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Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Benefit Plans [Abstract]

Information about our SERP

The following table summarizes information about our SERP.

(In thousands)		2018				2017
Change in benefit obligation:
Benefit obligation at beginning of the year		$	8,199			$	7,674
Interest cost			290				321
Actuarial losses (gains)			(769	)			509
Benefits paid			(326	)			(305	)
Benefit obligation at end of year			7,394				8,199
Change in plan assets:
Employer contribution			326				305
Benefits paid			(326	)			(305	)
Fair value of plan assets at end of year			—				—
Funded status of the plan – (underfunded)		$	(7,394	)		$	(8,199	)
Accumulated benefit obligations		$	7,394			$	8,199

Amounts Recognized in Consolidated Balance Sheets

Amounts recognized in the consolidated balance sheets consist of:

(In thousands)		2018				2017
Current liabilities		$	(366	)		$	(365	)
Noncurrent liabilities			(7,028	)			(7,834	)
		$	(7,394	)		$	(8,199	)

Net Pension Costs

Net pension cost included the following components:

	SERP
(In thousands)	2018				2017				2016
Interest cost on projected benefit obligation		$	290			$	321			$	341
Amortization of actuarial loss			136				90				102
Net pension costs		$	426			$	411			$	443

Assumptions Used to Determine Net Periodic Benefit Cost and Benefit Obligation

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

	SERP
	2018				2017				2016
Discount rate			3.68	%			4.30	%			4.58	%
Rate of compensation increase			n/a				n/a				n/a

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

		2018				2017
Discount rate			4.36	%			3.68	%
Rate of compensation increase			n/a				n/a

Expected Future Benefit Payments

These expected benefits were estimated based on the same actuarial assumptions used to determine benefit obligations at December 31, 2018.

(In thousands)		2019				2020				2021				2022				2023					2024-2028
Benefit Payments		$	366			$	397			$	425			$	425			$	419			$	2,537

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- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e2417-114920

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- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
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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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
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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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
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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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
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