Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Amounts included in accumulated other comprehensive loss, net of tax, that have not yet been recognized in net periodic benefit cost are as follows

Amounts included in accumulated other comprehensive loss, net of tax, at December 31, 2014 that have not yet been recognized in net periodic benefit cost are as follows:

	Pension plans		Other postretirement benefits
	(In thousands)
Prior service cost	$	—	$	6
Net actuarial loss	$	11,156	$	314

Amounts included in accumulated other comprehensive loss, net of tax, expected to be recognized in net periodic benefit cost during the following fiscal year

Amounts included in accumulated other comprehensive loss, net of tax, at December 31, 2014 expected to be recognized in net periodic benefit cost during the fiscal year ending December 31, 2015 are as follows:

	Pension plans		Other postretirement benefits
	(In thousands)
Prior service credit	$	—	$	33
Net actuarial loss	$	471	$	—

Components of net periodic benefit cost

The following table sets forth the components of net periodic postretirement benefit cost for the years ended December 31, 2014, 2013 and 2012:

	2014		2013		2012
	(In thousands)
Service cost, benefits attributed for service of active employees for the period	$	130	$	154	$	143
Interest cost on the accumulated postretirement benefit obligation	269		255		295
Amortization of prior service cost	161		161		161
Net periodic postretirement benefit cost	$	560	$	570	$	599

The following table sets forth the components of net periodic pension cost for the years ended December 31, 2014, 2013 and 2012 based on a December 31 measurement date:

	2014			2013			2012
	(In thousands)
Service cost — benefits earned during the year	$	4		$	5		$	6
Interest cost on projected benefit obligations	1,888			1,842			2,205
Expected return on plan assets	(2,806		)	(2,744		)	(3,190		)
Amortization of net loss	606			719			645
Settlement expense	858			806			1,075
Net periodic pension cost	$	550		$	628		$	741

Actuarial assumptions used in the determination of the net period pension cost

Actuarial assumptions used in the determination of the net periodic pension cost are:

	2014		2013		2012
Discount rate	4.47	%	3.68	%	4.69	%
Expected long-term return on plan assets	6.50	%	6.50	%	7.00	%
Rate of compensation increase	n/a		n/a		n/a

The actuarial assumption used in the determination of the benefit obligation of the above data is:

	2014		2013
Discount rate	3.81	%	4.47	%

Schedule of Changes in Benefit Obligations, Plan Assets and Funded Status

The following table provides a reconciliation of benefit obligations, plan assets and funded status based on a December 31 measurement date:

	2014			2013
	(In thousands)
Change in benefit obligation:
Benefit obligation at beginning of plan year	$	45,561		$	50,700
Service cost	4			5
Interest cost	1,888			1,842
Actuarial (gain)/loss	4,989			(3,208		)
Benefits paid	(4,242		)	(3,778		)
Projected benefit obligation at measurement date	$	48,200		$	45,561
Change in plan assets:
Fair value of plan assets at beginning of plan year	$	49,873		$	46,547
Actual return on plan assets	3,025			7,104
Benefits paid	(4,242		)	(3,778		)
Fair value of plan assets at measurement date	$	48,656		$	49,873
Funded status of the plan:
Benefit plan assets of benefit obligation	456			4,312
Prepaid pension asset (accrued pension liability)	$	456		$	4,312

Fair value of the Company's qualified pension plan assets by category

The fair value of the Company's qualified pension plan assets by category at December 31, 2014 are as follows:

	Market value		Quoted prices in active markets for identical assets (Level 1)		Significant observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Equity securities (a)	$	6,356	$	—	$	6,356	$	—
Fixed income funds (b)	41,351		—		41,351		—
Cash/cash equivalents (c)	949		949		—		—
Total	$	48,656	$	949	$	47,707	$	—

(a) The Equity funds in aggregate are well diversified by market capitalization, investment style and geography. The funds seek to provide investment results approximating the aggregate price and dividend performance of securities included in the S&P 500 Index, Russell 2000 Index and MSCI All Country World ex-US Index.

(b) The Fixed Income funds consist of bonds.  In aggregate, the funds seek to provide investment return approximating the return of the Plan’s obligations.  The funds consist of Long Credit bonds, Intermediate Credit bonds, Short Duration Government Credit bonds and Bank Loans.

(c) This category comprises the cash held to pay beneficiaries. The fair value of cash equals its book value.    

The fair value of the Company’s qualified pension plan assets by category at December 31, 2013 are as follows:

	Market value		Quoted prices in active markets for identical assets (Level  1)		Significant observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Equity securities (a)	$	27,049	$	27,049	$	—	$	—
Fixed income funds (b)	18,990		18,990		—		—
Cash/cash equivalents (c)	3,834		3,834		—		—
Total	$	49,873	$	49,873	$	—	$	—

(a) This category includes investments in equity securities of large, small and medium sized companies, equity securities of foreign companies and equity funds, or 52.8%, 11.1%, 12.1%, 17.2% and 6.8% of total assets, respectively. Of the total equity amount, 11.1% was invested in common stocks in a wide variety of industries and 88.9% was invested in mutual funds. The funds are valued using the closing market prices at December 31, 2013.

(b) This category includes investments in investment-grade fixed-income instruments and corporate bonds. Government instruments were 33.4% of the total. The funds are valued using the closing market prices at December 31, 2013.

(c) This category comprises the cash held to pay beneficiaries. The fair value of cash equals its book value.

Schedule of Changes in Projected Benefit Obligations

The following table provides a reconciliation of the projected benefit obligation at the Company's December 31 measurement date:

	2014			2013
	(In thousands)
Benefit obligation at beginning of year	$	6,376		$	6,940
Service cost	130			154
Interest cost	269			255
Actuarial loss (gain)	462			(746		)
Plan participants' contributions	708			716
Benefits paid	(1,178		)	(943		)
Benefit obligation and funded status at end of year	$	6,767		$	6,376

Schedule of Amounts Recognized in Balance Sheet

The amounts recognized in the Consolidated Balance Sheets at December 31 are:

	2014		2013
	(In thousands)
Accrued compensation and employee benefits	$	425	$	442
Accrued non-pension postretirement benefits	6,342		5,934
Amounts recognized at December 31	$	6,767	$	6,376