XML 39 R24.htm IDEA: XBRL DOCUMENT v3.20.4
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]  
Schedule of Amounts Not Yet Recognized In Net Periodic Benefit Cost

Amounts included in accumulated other comprehensive income, net of tax, at December 31, 2020 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)

 

$

68

 

 

$

(123

)

 

 

Components of Net Periodic Pension/Postretirement Benefit Cost

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

 

  

 

2018

 

 

 

(In thousands)

 

Service cost - benefits earned during the year

 

$

 

Interest cost on projected benefit obligations

 

 

305

 

Expected return on plan assets

 

 

(835

)

Amortization of net loss

 

 

262

 

Settlement expense

 

 

19,900

 

Net periodic pension cost

 

$

19,632

 

The following table sets forth the components of net periodic postretirement benefit cost for the years ended December 31, 2020, 2019 and 2018:

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Service cost, benefits attributed for service of active

   employees for the period

 

$

103

 

 

$

103

 

 

$

124

 

Interest cost on the accumulated postretirement benefit obligation

 

 

154

 

 

 

210

 

 

 

189

 

Amortization of actuarial gain

 

 

(22

)

 

 

(117

)

 

 

(30

)

Amortization of prior service credit

 

 

 

 

 

 

 

 

(13

)

Net periodic postretirement benefit cost

 

$

235

 

 

$

196

 

 

$

270

 

 

 

Schedule of Actuarial Assumptions

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

 

 

 

2018

 

Discount rate

 

 

2.00

%

Expected long-term return on plan assets

 

 

3.00

%

Rate of compensation increase

 

n/a

 

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

 

 

 

2020

 

 

2019

 

 

 

(In thousands)

 

Benefit obligation at beginning of year

 

$

6,075

 

 

$

5,551

 

Service cost

 

 

103

 

 

 

103

 

Interest cost

 

 

154

 

 

 

210

 

Actuarial gain

 

 

202

 

 

 

657

 

Plan participants' contributions

 

 

474

 

 

 

532

 

Benefits paid

 

 

(863

)

 

 

(978

)

Benefit obligation and funded status at end of year

 

$

6,145

 

 

$

6,075

 

 

Schedule of Amounts Recognized in Consolidated Balance Sheets

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

 

 

 

2020

 

 

2019

 

 

 

(In thousands)

 

Accrued compensation and employee benefits

 

$

356

 

 

$

364

 

Accrued non-pension postretirement benefits

 

 

5,789

 

 

 

5,711

 

Amounts recognized at December 31

 

$

6,145

 

 

$

6,075