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Pension Plan (Tables)
12 Months Ended
Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]  
Schedule of Allocation of Plan Assets [Table Text Block]

 

 

 

2013

 

 

2012

Guaranteed investment contracts

 

 

22.90%

 

 

31.80%

Mutual stock funds

 

 

19.4

 

 

17.2

Equity and index funds

 

 

57.7

 

 

51

Total pension plan assets

 

 

100.00%

 

 

100.00%

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

In thousands

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

Guaranteed investment contracts

 

$

-

 

$

1,620

 

$

-

 

$

1,620

Mutual stock funds

 

 

1,371

 

 

-

 

 

-

 

 

1,371

Equity and index funds

 

 

-

 

 

4,086

 

 

-

 

 

4,086

Fair Value, Pension plan assets, Total

 

$

1,371

 

$

5,706

 

$

-

 

$

7,077

Schedule of Net Funded Status [Table Text Block]

 

 

 

 

 

 

 

In thousands

 

 

2013

 

 

2012

Change in benefit obligation:

 

 

 

 

 

 

Projected benefit obligation at beginning of year

 

$

12,450

 

$

11,276

 

 

 

 

 

 

 

Interest cost

 

 

495

 

 

520

Actuarial (gain) loss

 

 

(567)

 

 

1,086

Benefits paid

 

 

(495)

 

 

(433)

Projected benefit obligation at end of year

 

 

11,883

 

 

12,449

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

 

Fair value of plan assets at beginning of year

 

 

6,019

 

 

5,361

Actual return on plan assets

 

 

884

 

 

532

Company contributions

 

 

669

 

 

559

Benefits paid

 

 

(495)

 

 

(433)

Fair value of plan assets at end of year

 

 

7,077

 

 

6,019

 

 

 

 

 

 

 

Funded status (underfunded)

 

$

(4,806)

 

$

(6,430)

 

 

 

 

 

 

 

Amounts recognized in other accumulated comprehensive loss:

 

 

 

 

 

 

Net actuarial loss

 

$

4,886

 

$

6,361

 

 

 

 

 

 

 

Weighted average assumptions as of December 31:

 

 

 

 

 

 

Discount rate:

 

 

 

 

 

 

Components of cost

 

 

4.80%

 

 

4.08%

Benefit obligations

 

 

4.80%

 

 

4.80%

Expected return on plan assets

 

 

8.00%

 

 

8.00%

Rate of compensation increase

 

 

N/A

 

 

N/A

Schedule of Expected Benefit Payments [Table Text Block]

 

 

 

 

 

 

 

In thousands

2014

2015

2016

2017

2018

2019 - 2023

 

$503

$670

$745

$593

$676

$4,182

Schedule of Net Benefit Costs [Table Text Block]

 

 

 

 

 

 

 

In thousands

 

 

2013

 

 

2012

Interest cost

 

$

495

 

$

520

Expected return on plan assets

 

 

(498)

 

 

(438)

Amortization of net actuarial loss

 

 

523

 

 

484

Net periodic pension cost

 

$

520

 

$

566

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

 

 

 

 

 

 

 

In thousands

 

 

2013

 

 

2012

Balance at beginning of year

 

$

6,361

 

$

5,852

Net actuarial (gain) loss

 

 

(952)

 

 

993

Recognized loss

 

 

(523)

 

 

(484)

Balance at end of year

 

$

4,886

 

$

6,361