Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Employee Benefits

Schedule of Plans' assets measured at estimated fair value

	Balance
	December 31,
(Thousands of dollars)	2014	Level 1	Level 2		Level 3
Assets:
Domestic equity securities	$     66,618	$  66,618	$	-	$	-
Foreign equity securities	27,945	27,945	-		-
Real estate mutual fund	8,977	8,977	-		-
Fixed income mutual funds	4,683	4,683	-		-
Commodity mutual funds	3,831	3,831	-		-
International fixed income mutual funds	2,808	2,808	-		-
Money market funds	2,205	2,205	-		-
Other	5,037	174	4,863		-
Total Assets	$    122,104	$  117,241	$	4,863	$	-
	Balance
	December 31,
(Thousands of dollars)	2013	Level 1	Level 2		Level 3
Assets:
Domestic equity securities	$    65,998	$  65,998	$	-	$	-
Foreign equity securities	30,348	30,348	-		-
Real estate mutual fund	8,866	8,866	-		-
Commodity mutual funds	2,756	2,756	-		-
International fixed income mutual funds	2,485	2,485	-		-
Money market funds	1,938	1,938	-		-
Fixed income mutual funds	1,786	1,786	-		-
Corporate bonds	1,528	-	1,528		-
Other	3,850	-	3,850		-
Total Assets	$   119,555	$ 114,177	$	5,378	$	-

Schedule of assumptions used in determining pension information for plans

	Years ended December 31,
	2014	2013	2012
Weighted-average assumptions
Discount rate used to determine obligations	3.15-4.40%	3.55-5.20%	2.50-4.15%
Discount rate used to determine net periodic benefit cost	3.55-5.20%	2.50-4.15%	3.75-4.70%
Expected return on plan assets	7.00-8.00%	6.50-7.25%	6.50-7.25%
Long-term rate of increase in compensation levels	4.00%	4.00%	4.00%

Schedule of the funded status

	December 31,
(Thousands of dollars)	2014			2013
Reconciliation of benefit obligation:
Benefit obligation at beginning of year	$	203,263		$	226,725
Service cost	7,701			9,427
Interest cost	9,627			8,199
Actuarial losses (gains)	44,322			(30,968		)
Benefits paid	(6,699		)	(6,916		)
Plan settlement	(638		)	-
Agreement termination gain	-			(3,204		)
Benefit obligation at end of year	$	257,576		$	203,263
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year	$	119,555		$	97,586
Actual return on plan assets	6,473			15,494
Employer contributions	3,413			13,391
Benefits paid	(6,699		)	(6,916		)
Plan settlement	(638		)	-
Fair value of plan assets at end of year	$	122,104		$	119,555
Funded status	$	(135,472	)	$	(83,708	)

Schedule of net periodic benefits cost of plans

	Years ended December 31,
(Thousands of dollars)	2014			2013			2012
Components of net periodic benefit cost:
Service cost	$	7,701		$	9,427		$	8,843
Interest cost	9,627			8,199			8,918
Expected return on plan assets	(8,695		)	(6,458		)	(6,431		)
Amortization and other	2,075			6,303			6,748
Agreement termination gain	-			(3,204		)	-
Settlement	156			-			1,796
Curtailment	-			-			1,134
Net periodic benefit cost	$	10,864		$	14,267		$	21,008