XML 99 R41.htm IDEA: XBRL DOCUMENT v2.4.0.8
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]  
Schedule of Net Benefit Costs
The components of net periodic pension expense are as follows
 
Year Ended December 31,
 
2013
 
2012
 
2011
Interest cost
$
2,112

 
$
2,206

 
$
2,409

Expected return on plan assets
(2,705
)
 
(2,648
)
 
(2,575
)
Amortization of net loss
1,348

 
974

 
365

Total net periodic pension expense
$
755

 
$
532

 
$
199

Schedule of Changes in Projected Benefit Obligation and Plan Assets, Funded Status and Amounts Recognized on the Balance Sheet
The changes in the projected benefit obligation and plan assets, the funded status of the plans and the amounts recognized in the consolidated balance sheets are as follows:
 
 
December 31,
 
2013
 
2012
Change in projected benefit obligation:
 
 
 
Projected benefit obligation at beginning of year
$
57,268

 
$
49,925

Interest cost
2,112

 
2,206

Benefits paid
(1,813
)
 
(1,710
)
Actuarial (gains) losses
(6,883
)
 
6,847

Projected benefit obligation at year end
$
50,684

 
$
57,268

Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
$
37,941

 
$
34,020

Actual return (loss)
6,202

 
3,899

Employer contributions
635

 
1,732

Benefits paid
(1,813
)
 
(1,710
)
Fair value of plan assets at year end
$
42,965

 
$
37,941

Funded status (Accrued pension liabilities)
$
(7,719
)
 
$
(19,327
)
 
 
 
 
Unrecognized actuarial loss recognized in accumulated other comprehensive income
$
8,250

 
$
19,978

Schedule of Assumptions Used
The actuarial assumptions used in determining pension plan information are as follows: 
 
December 31,
 
2013
 
2012
 
2011
Assumptions used to determine benefit obligation at year end:
 
 
 
 
 
  Discount rate
4.75
%
 
3.75
%
 
4.50
%
Assumptions used to determine net periodic benefit cost:
 
 
 
 
 
  Discount rate
3.75
%
 
4.50
%
 
5.50
%
  Expected long-term weighted-average rate of return on plan assets
7.25
%
 
7.75
%
 
7.75
%
Schedule of Allocation of Plan Assets [Table Text Block]
The target asset allocations and fair values by asset category at December 31 are as follows: 
 
 
 
Fair Value
 
 
 
Total
 
Level 2
 
Level 3
Asset category:
Target
 
2013
 
2012
 
2013
 
2012
 
2013
Equity
55
%
 
$
26,668

 
$
21,265

 
$
26,668

 
$
21,265

 
$

Fixed income funds
43
%
 
12,527

 
16,650

 
12,527

 
16,650

 

Cash and cash equivalents
2
%
 

 
26

 

 
26

 

Other investments
%
 
3,770

 

 
1,609

 

 
2,161

Total
100
%
 
$
42,965

 
$
37,941

 
$
40,804

 
$
37,941

 
$
2,161

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
 
December 31, 2013
Balance at beginning of year
$

Return on plan assets
30

Purchases, sales and settlements, net
(1,925
)
Transfers, net
4,056

Balance at end of year
$
2,161

Schedule of Expected Benefit Payments
The Company’s funding policy is to contribute at least the minimum funding amounts required by law. Based upon current actuarial estimates, the Company expects to contribute $1,729 to its defined benefit pension plan in 2014. The following benefit payments are expected to be paid by the plan in each of the next five years and in the aggregate for the subsequent five years: 
2014
$
2,000

2015
2,100

2016
2,200

2017
2,400

2018
2,600

In aggregate during five years thereafter
15,000