XML 36 R20.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Pension, Savings, And Other Employee Benefits | 3 Months Ended
--- | ---
Mar. 31, 2017
Pension, Savings, And Other Employee Benefits [Abstract] |
Pension, Savings, And Other Employee Benefits | Note 11 – Pension, Savings, and Other Employee Benefits Pension plan. FHN sponsors a noncontributory, qualified defined benefit pension plan to employees hired or re-hired on or before September 1, 2007. Pension benefits are based on years of service, average compensation near retirement or other termination, and estimated social security benefits at age 65. Benefits under the plan are “frozen” so that years of service and compens ation changes after 2012 do not affect the benefit owed. Minimum contributions are based upon actuarially determined amounts nece ssary to fund the total benefit obligation. Decisions to contribute to the plan are based upon pension funding requirements und er the Pension Protection Act, the maximum amount deductible under the Internal Revenue Code, the actual performance of plan assets, and trends in the regulatory environment. FHN contributed $165 million to the qualified pension plan in third quarter 2016. The contribution had no effect on FHN’s 2016 Consolidated Statements of Income. FHN did not make any contributions to the qualified pension plan in the first quarter of 2017. Management does not currently anticipate that FHN will make a contribution to the qualified pension plan for the remainder of 2017. FHN also maintains non-qualified plans including a supplemental retirement plan that covers certain employees whose benefits under the qualified pension plan have been limited by tax rules. These o ther non-qualified plans are unfunded, and contributions to these plans cover all benefits paid under the non-qualified plans. Payments made under the non-qualified plans were $5.1 million for 2016. FHN anticipates making benefit payments under the non-qualified plans of $5.0 million in 2017. Savings plan. FHN provides all qualifying full-time employees with t he opportunity to participate in the FHN tax qualified 401(k) savings plan. The qualified plan allows employees to defer receipt of earned salary, up to tax law limits, on a tax-advantaged basis. Accounts, which are held in trust, may be invested in a wide range of mutual funds and in FHN common stock. Up to tax law limits, FHN provides a 100 percent match for the first 6 percent of salary deferred, with company matching contributions invested according to a participant’s current investment elections. Throu gh a non-qualified savings restoration plan, FHN provides a restorative benefit to certain highly-compensated employees who participate in the savings plan and whose contribution elections are capped by tax limitations. Other employee benefits. FHN provid es postretirement life insurance benefits to certain employees and also provides postretirement medical insurance benefits to retirement-eligible employees. The postretirement medical plan is contributory with FHN contributing a fixed amount for certain pa rticipants. FHN’s postretirement benefits include certain prescription drug benefits.
The components of net periodic benefit cost for the three months ended March 31 are as follows:
|  |  |  | Pension Benefits |  | Other Benefits |
(Dollars in thousands) | 2017 |  | 2016 |  | 2017 |  | 2016 |
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 9 |  | $ | 10 |  | $ | 27 |  | $ | 28 |
Interest cost |  | 7,379 |  |  | 7,882 |  |  | 326 |  |  | 317 |
Expected return on plan assets |  | (8,891) |  |  | (9,773) |  |  | (237) |  |  | (229) |
Amortization of unrecognized: |  |  |  |  |  |  |  |  |  |  |  |
| Prior service cost/(credit) |  | 13 |  |  | 49 |  |  | 24 |  |  | 43 |
| Actuarial (gain)/loss |  | 2,380 |  |  | 2,068 |  |  | (142) |  |  | (233) |
Net periodic benefit cost/(credit) | $ | 890 |  | $ | 236 |  | $ | (2) |  | $ | (74) |

X
- References No definition available. + Details
Name: | us-gaap_GeneralDiscussionOfPensionAndOtherPostretirementBenefitsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450702-114947 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2410-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39675-114964 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66047640&loc=d3e39622-114963 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration