Retirement Plans Retirement Plans Level 3 (Tables)

12 Months Ended

Dec. 31, 2017

The components of the Plans’ net periodic benefit cost for the years ended December 31 were as follows:



	2017		2016		2015
	(In thousands)
Interest cost on projected benefit obligation	$	1,067	$	1,179	$	1,198
Recognized net actuarial losses (gains)	879		259		(1,327		)
Total net periodic benefit cost	$	1,946	$	1,438	$	(129	)

The Plans’ funded status at December 31 was as follows:



	2017			2016
	(In thousands)
Change in Benefit Obligation:
Benefit obligation at beginning of year	$	30,078		$	32,305
Interest cost	1,067			1,179
Actuarial gain	879			259
Benefits paid	(3,343		)	(3,665		)
Benefit obligation at end of year	$	28,681		$	30,078
Change in Plan Assets:
Fair value of plan assets at beginning of year	$	—		$	—
Employer contributions	3,343			3,665
Benefits paid, including expenses	(3,343		)	(3,665		)
Fair value of plan assets at end of year	$	—		$	—
Funded status of plan	$	(28,681	)	$	(30,078	)

Funding Summary:
Projected benefit obligations	$	28,681		$	30,078
Accumulated benefit obligation	$	28,681		$	30,078
Amounts Recognized in the Consolidated Balance Sheet:
Accounts payable and accrued liabilities	$	(3,265	)	$	(3,448	)
Accrued benefit costs - included in Other liabilities	(25,416		)	(26,630		)
Total accrued benefit liability	$	(28,681	)	$	(30,078	)

The Plans’ weighted-average assumptions used to determine the benefit obligation and net benefit cost are as follows:



	2017		2016		2015
Weighted-average discount rate used to determine obligations	3.41	%	3.76	%	3.86	%
Weighted-average discount rate used to determine net periodic pension cost	3.86	%	3.96	%	2.47	%

The following benefit payments are expected to be paid in future years related to our Plans (in thousands):



2018	$	3,265
2019	3,192
2020	2,760
2021	2,447
2022	2,369
Years 2023 through 2027	9,379
Total expected benefit payments	$	23,412