XML 100 R25.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]  
Schedule of Amounts Not Yet Recognized In Net Periodic Benefit Cost

Amounts included in accumulated other comprehensive income (loss), net of tax, at December 31, 2019 that have not yet been recognized in net periodic benefit cost are as follows:

 

 

 

Pension

plans

 

 

Other

postretirement

benefits

 

 

 

(In thousands)

 

Net actuarial loss (gain)

 

$

28

 

 

$

(289

)

 

Components of Net Periodic Pension/Postretirement Benefit Cost

The following table sets forth the components of net periodic pension cost for the years ended December 31, 2018 and 2017 based on a December 31 measurement date:

 

 

 

2018

 

 

2017

 

 

 

(In thousands)

 

Service cost - benefits earned during the year

 

$

 

 

$

2

 

Interest cost on projected benefit obligations

 

 

305

 

 

 

1,228

 

Expected return on plan assets

 

 

(835

)

 

 

(1,596

)

Amortization of net loss

 

 

262

 

 

 

525

 

Settlement expense

 

 

19,900

 

 

 

641

 

Net periodic pension cost

 

$

19,632

 

 

$

800

 

The following table sets forth the components of net periodic postretirement benefit cost for the years ended December 31, 2019, 2018 and 2017:

 

 

 

2019

 

 

2018

 

 

2017

 

 

 

(In thousands)

 

Service cost, benefits attributed for service of active

   employees for the period

 

$

103

 

 

$

124

 

 

$

121

 

Interest cost on the accumulated postretirement benefit obligation

 

 

210

 

 

 

189

 

 

 

195

 

Amortization of actuarial gain

 

 

(117

)

 

 

(30

)

 

 

(49

)

Amortization of prior service credit

 

 

 

 

 

(13

)

 

 

(25

)

Net periodic postretirement benefit cost

 

$

196

 

 

$

270

 

 

$

242

 

 

Schedule of Actuarial Assumptions

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

 

 

 

2018

 

 

2017

 

Discount rate

 

 

2.00

%

 

 

3.90

%

Expected long-term return on plan assets

 

 

3.00

%

 

 

4.00

%

Rate of compensation increase

 

n/a

 

 

n/a

 

Reconciliation of 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:

 

 

 

2018

 

 

(In thousands)

 

Change in benefit obligation:

 

 

 

 

Benefit obligation at beginning of plan year

 

$

42,898

 

Service cost

 

 

 

Interest cost

 

 

305

 

Actuarial loss

 

 

(198

)

Benefits paid

 

 

(43,005

)

Projected benefit obligation at measurement date

 

$

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

Fair value of plan assets at beginning of plan year

 

$

41,517

 

Actual return on plan assets

 

 

(1,375

)

Company contribution

 

 

2,860

 

Benefits paid

 

 

(43,002

)

Fair value of plan assets at measurement date

 

$

 

 

 

 

 

 

Funded status of the plan:

 

 

 

 

Benefit obligation in excess of plan assets

 

$

 

Benefit plan assets in excess of benefit obligation

 

 

 

Pension liability

 

$

 

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

 

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Benefit obligation at beginning of year

 

$

5,551

 

 

$

6,073

 

Service cost

 

 

103

 

 

 

124

 

Interest cost

 

 

210

 

 

 

189

 

Actuarial gain

 

 

657

 

 

 

(511

)

Plan participants' contributions

 

 

532

 

 

 

547

 

Benefits paid

 

 

(978

)

 

 

(871

)

Benefit obligation and funded status at end of year

 

$

6,075

 

 

$

5,551

 

 

Schedule of Amounts Recognized in Consolidated Balance Sheets

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

 

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Accrued compensation and employee benefits

 

$

364

 

 

$

367

 

Accrued non-pension postretirement benefits

 

 

5,711

 

 

 

5,184

 

Amounts recognized at December 31

 

$

6,075

 

 

$

5,551