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EMPLOYEE BENEFIT PLANS (Tables)
6 Months Ended
Sep. 30, 2016
Compensation And Retirement Disclosure [Abstract]  
Schedule of Carrying Value of Trust Assets, Including Unrealized Gains or Losses

The following table summarizes the carrying value of the trust assets, including unrealized gains or losses at September 30, 2016 and March 31, 2016:

 

 

 

September 30,

 

March 31,

(In thousands)

 

2016

 

2016

Investments held in Rabbi Trust

 

$

8,896

 

 

 

 

8,811

 

 

Unrealized losses in fair value of trust assets

 

 

72

 

 

 

 

(208

)

 

Unrealized losses in fair value of trust assets

    are net of income tax expense of

 

 

 

 

 

 

(168

)

 

Obligations under the supplemental plan

 

 

25,739

 

 

 

 

25,072

 

 

 

Schedule of Net Periodic Benefit Cost

The net periodic benefit cost for the company’s defined benefit pension plans and supplemental plan (referred to collectively as “Pension Benefits”) and the postretirement health care and life insurance plan (referred to collectively as “Other Benefits”) is comprised of the following components:

 

 

 

Quarter Ended

 

 

Six Months Ended

 

 

 

September 30,

 

 

September 30,

 

(In thousands)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Pension Benefits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

254

 

 

 

234

 

 

 

506

 

 

 

468

 

Interest cost

 

 

941

 

 

 

935

 

 

 

1,882

 

 

 

1,870

 

Expected return on plan assets

 

 

(548

)

 

 

(530

)

 

 

(1,097

)

 

 

(1,060

)

Administrative expenses

 

 

2

 

 

 

 

 

 

4

 

 

 

 

Amortization of prior service cost

 

 

 

 

 

9

 

 

 

 

 

 

18

 

Recognized actuarial loss

 

 

446

 

 

 

567

 

 

 

892

 

 

 

1,134

 

Net periodic benefit cost

 

$

1,095

 

 

 

1,215

 

 

 

2,187

 

 

 

2,430

 

Other Benefits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

20

 

 

 

75

 

 

 

40

 

 

 

150

 

Interest cost

 

 

50

 

 

 

211

 

 

 

100

 

 

 

421

 

Amortization of prior service cost

 

 

(1,086

)

 

 

(510

)

 

 

(2,172

)

 

 

(1,021

)

Recognized actuarial benefit

 

 

(285

)

 

 

(245

)

 

 

(570

)

 

 

(489

)

Net periodic benefit cost

 

$

(1,301

)

 

 

(469

)

 

 

(2,602

)

 

 

(939

)