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BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2016

BENEFIT PLANS [Abstract]

Schedule of Information about our SERP

The following table summarizes information about our SERP.

(In  thousands)		2016			2015
Change in benefit obligation:
Benefit obligation at beginning of the year		$	7,719		$	7,270
Service cost			—			129
Interest cost			341			314
Plan curtailments			—			(87	)
Actuarial losses (gains)			(72	)		317
Benefits paid			(314	)		(224	)
Benefit obligation at end of year			7,674			7,719
Change in plan assets:
Employer contribution			314			224
Benefits paid			(314	)		(224	)
Fair value of plan assets at end of year			—			—
Funded status of the plan – (underfunded)		$	(7,674	)	$	(7,719	)
Accumulated benefit obligations		$	7,674		$	7,719

Schedule of Amounts Recognized in Consolidated Balance Sheets

Amounts recognized in the consolidated balance sheets consist of:

(In thousands)		2016			2015
Current liabilities		$	(369	)	$	(287	)
Noncurrent liabilities			(7,305	)		(7,432	)
		$	(7,674	)	$	(7,719	)

Schedule of Net Pension Costs

Net pension cost included the following components:

		Pension Plan					SERP
(In thousands)		2014					2016			2015			2014
Service cost-benefits earned during the period			$	—		$		—		$	129			$	117
Interest cost on projected benefit obligation				3,232				341			314				289
Expected return on plan assets				(4,475	)			—			—				—
Amortization of prior service cost				—				—			210				210
Amortization of actuarial loss				244				102			169				—
Settlement loss recognized				20,810				—			—				—
Curtailment loss recognized				—				—			222				—
Special termination benefit recognized				813				—			—				—
Net pension costs			$	20,624		$		443		$	1,044			$	616

Schedule of Assumptions Used

We use a measurement date of December 31 for our pension and SERP plan.  Assumptions used to determine net periodic benefit cost for years ended December 31 are as follows:

		Pension Plan			SERP
		2014			2016			2015			2014
Discount rate			4.93%			4.58%			4.09%			4.96%
Expected long-term return on plan assets			6.00%			n/a			n/a			n/a
Rate of compensation increase			n/a			n/a			3.50%			3.50%

Assumptions used to determine benefit obligations at December 31 for the SERP are as follows:

		2016			2015
Discount rate			4.30%			4.58%
Rate of compensation increase			n/a			3.50%

Schedule of Expected Future Benefit Payments

These expected benefits were estimated based on the same actuarial assumptions used to determine benefit obligations at December 31, 2016.

(In thousands)
	2017		2018		2019		2020		2021		2022-2026
Benefit Payments	$369		$372		$383		$411		$439		$2,343

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Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-Subparagraph (b)
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Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

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-Publisher FASB
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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
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