Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Schedule of Defined Benefit Plans Disclosures

The following tables set forth the change in plan assets, change in projected benefit obligation, rate assumptions and components of net periodic benefit cost as of December 31 with respect to these plans. The measurement dates of the assets and liabilities of both plans were December 31 of the respective years presented.

	Year Ended December 31, 2014
(in thousands)	Hourly   Employees’ Pension Plan				Employees’ Retirement Plan				Total
Change in projected benefit obligation
Benefit obligation at beginning of year		$	9,477			$	18,335		$	27,812
Service cost		8				4			12
Interest cost		422				852			1,274
Liability actuarial loss (gain)		1,189				3,163			4,352
Benefits paid		(640		)		(759		)	(1,399		)
Benefit obligation at end of year		10,456				21,595			32,051
Change in fair value of plan assets
Fair value of plan assets at beginning of year		8,873				16,401			25,274
Return on plan assets		442				820			1,262
Employer contributions		548				652			1,200
Benefits paid		(640		)		(759		)	(1,399		)
Fair value of plan assets at end of year		9,223				17,114			26,337
Underfunded status – December 31, 2014		$	(1,233	)		$	(4,481	)	$	(5,714	)

	Year Ended December 31, 2013
(in thousands)	Hourly   Employees’ Pension Plan				Employees’ Retirement Plan				Total
Change in projected benefit obligation
Benefit obligation at beginning of year		$	10,786			$	20,923		$	31,709
Service cost		11				5			16
Interest cost		371				760			1,131
Liability actuarial (gain) loss		(1,060		)		(2,620		)	(3,680		)
Benefits paid		(631		)		(733		)	(1,364		)
Benefit obligation at end of year		9,477				18,335			27,812
Change in fair value of plan assets
Fair value of plan assets at beginning of year		7,690				14,148			21,838
Return on plan assets		1,136				2,090			3,226
Employer contributions		678				896			1,574
Benefits paid		(631		)		(733		)	(1,364		)
Fair value of plan assets at end of year		8,873				16,401			25,274
Underfunded status – December 31, 2013		$	(604	)		$	(1,934	)	$	(2,538	)

Schedule of Assumptions Used

Assumptions used to determine benefit obligations at December 31:

	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2014	2013	2014	2013
Discount rate	4.00%	4.60%	4.10%	4.75%
Composite rate of compensation increase	N/A	N/A	N/A	N/A

Assumptions used to determine net periodic benefit cost for the years ended December 31:

	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2014	2013	2014	2013
Discount rate	4.60%	3.55%	4.75%	3.70%
Long-term rate of return on plan assets	7.25%	7.25%	7.25%	7.25%
Composite rate of compensation increase	N/A	N/A	N/A	N/A

Schedule of Net Benefit Costs

The following tables present the components of net periodic benefit cost (gains are denoted with parentheses and losses are not):

	Year Ended December 31, 2014
(in thousands)	Hourly Employees’ Pension Plan				Employees’ Retirement Plan				Total
Service cost		$	8			$	4		$	12
Interest cost		422				852			1,274
Expected return on plan assets		(637		)		(1,180		)	(1,817		)
Amortization of net loss (gain)		72				60			132
Net periodic benefit cost		$	(135	)		$	(264	)	$	(399	)

	Year Ended December 31, 2013
(in thousands)	Hourly Employees’ Pension Plan				Employees’ Retirement Plan				Total
Service cost		$	11			$	5		$	16
Interest cost		371				760			1,131
Expected return on plan assets		(549		)		(1,018		)	(1,567		)
Amortization of net loss (gain)		285				418			703
Net periodic benefit cost		$	118			$	165		$	283

Schedule of Allocation of Plan Assets

The pension plans' weighted-average asset allocations as a percentage of plan assets at December 31 are as follows:

	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2014	2013	2014	2013
Equity securities	53%	55%	55%	55%
Debt securities	38%	38%	38%	38%
Short-term investments	5%	2%	3%	2%
Other	4%	5%	4%	5%
Total	100%	100%	100%	100%

Fair Value, Assets Measured on Recurring Basis

The following table presents the hierarchy levels for our postretirement benefit plan investments as of December 31:

(in thousands)	December 31, 2014			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mutual Funds:
Mid Cap		$	1,642		$	1,642		$	—	$	—
Large Cap		5,162			5,162
International		2,985			2,985
Common/Collective:
Liability Driven Solution		3,702						3,702
Wells Fargo International Equity Index Fund		1,098						1,098
Wells Fargo Core Bond		1,810						1,810
Wells Fargo/Causeway		1,118						1,118
Wells Fargo Large Cap Growth Index Fund		1,473						1,473
Wells Fargo Large Cap Value Index Fund		1,476						1,476
Wells Fargo Multi-Manager Small Cap		1,783						1,783
Wells Fargo Russell 2000 Index Fund		860						860
Wells Fargo S&P Mid Cap Index Fund		990						990
T. Rowe Price Equity Income		1,310						1,310
Cash & Short-term Investments		928			928
Total		$	26,337		$	10,717		$	15,620	$	—

(in thousands)	December 31, 2013			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mutual Funds:
Mid Cap		$	1,577		$	1,577		$	—	$	—
Large Cap		6,826			6,826
International		2,531			2,531
Common/Collective:
Wells Fargo Liability Driven Solution Fund		3,521						3,521
Wells Fargo International Equity Index Fund		1,286						1,286
Wells Fargo Thornburg International		1,273						1,273
Wells Fargo Large Cap Growth Index Fund		1,423						1,423
Wells Fargo Large Cap Value Index Fund		1,427						1,427
Wells Fargo Multi-Manager Small Cap		1,683						1,683
Wells Fargo Russell 2000 Index Fund		841						841
Wells Fargo S&P Mid Cap Index Fund		950						950
T Rowe Price Equity Income		1,424						1,424
Cash & Short-term Investments		512			512
Total		$	25,274		$	11,446		$	13,828	$	—

Schedule of Expected Benefit Payments

The following table illustrates the estimated pension benefit payments which reflect expected future service, as appropriate, that are projected to be paid:

(in thousands)	Hourly Employees’ Pension Plan			Employees’ Retirement Plan			Total
2015		$	639		$	887	$	1,526
2016		641			933		1,574
2017		648			1,026		1,674
2018		656			1,120		1,776
2019		665			1,153		1,818
Years 2020 through 2024		$	3,269		$	6,368	$	9,637

Supplemental Employee Retirement Plans, Defined Benefit

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used

Assumptions used to determine benefit obligations at December 31:

	2014	2013
Discount rate	3.70%	4.60%
Composite rate of compensation increase	3.00%	3.00%

Assumptions used to determine net periodic benefit cost for the years ended December 31:

	2014	2013
Discount rate	4.60%	3.37%
Composite rate of compensation increase	3.00%	3.00%
Long-term rate of return on plan assets	N/A	N/A

Schedule of Net Benefit Costs

The components of net periodic pension expense were as follows, in thousands:

	Year Ended December 31,
(in thousands)	2014		2013
Service cost	$	152	$	114
Interest cost	138		102
Amortization of prior service cost	270		327
Net periodic benefit cost	$	560	$	543

Schedule of Expected Benefit Payments

Future estimated benefits expected to be paid from the plan over the next ten years as follows in thousands:

2015	$	62
2016	110
2017	149
2018	251
2019	252
Years 2020 through 2024	$	1,411

Schedule of Defined Benefit Plans Disclosures

The change in the Projected Benefit Obligation (PBO) as of December 31, 2014 and 2013, is shown below, in thousands:

	Year Ended December 31,
(in thousands)	2014		2013
Benefit obligation at January 1,	$	3,021	$	3,057
Service cost	152		114
Interest cost	138		102
Liability actuarial loss (gain)	421		(252		)
Plan amendments	—		—
Benefit obligation at December 31,	$	3,732	$	3,021