XML 64 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Combined Activity in Corporations Defined Benefit Pension Plans

We use a December 31 measurement date for our defined benefit plans. Combined activity in our defined benefit pension plans was as follows:

	2018				2017				2016
Change in plan assets:
Fair value of plan assets at beginning of year	$	168,450			$	157,214			$	163,270
Actual return on plan assets	(7,739		)		23,518				5,174
Employer contributions	1,077				1,049				4,819
Benefits paid	(8,968		)		(13,331		)		(16,049		)
Fair value of plan assets at end of year	152,820				168,450				157,214
Change in benefit obligation:
Benefit obligation at beginning of year	182,607				176,751				194,140
Interest cost	5,898				6,189				6,958
Actuarial (gain) loss	(12,430		)		12,998				(8,298		)
Benefits paid	(8,968		)		(13,331		)		(16,049		)
Benefit obligation at end of year	167,107				182,607				176,751
Funded status of the plan at end of year and accrued benefit (liability) recognized	$	(14,287	)		$	(14,157	)		$	(19,537	)
Accumulated benefit obligation at end of year	$	167,107			$	182,607			$	176,751

Disaggregated Information Related to Corporations Defined Benefit Pension Plans

Certain disaggregated information related to our defined benefit pension plans as of year-end was as follows:

	Retirement Plan								Restoration Plan
	2018				2017				2018				2017
Projected benefit obligation	$	152,035			$	166,191			$	15,072			$	16,416
Accumulated benefit obligation	152,035				166,191				15,072				16,416
Fair value of plan assets	152,820				168,450				—				—
Funded status of the plan at end of year and accrued benefit (liability) recognized	785				2,259				(15,072		)		(16,416		)

Net Periodic Benefit Cost (Benefit)

The components of the combined net periodic cost (benefit) for our defined benefit pension plans are presented in the table below. Supplemental executive retirement plan (“SERP”) settlement costs were related to the retirement of a former executive officer.

	2018				2017				2016
Expected return on plan assets, net of expenses	$	(11,916	)		$	(11,117	)		$	(11,558	)
Interest cost on projected benefit obligation	5,898				6,189				6,958
Net amortization and deferral	5,002				5,429				6,247
SERP settlement costs	—				—				1,027
Net periodic expense (benefit)	$	(1,016	)		$	501			$	2,674

Defined Benefit Pension Plans Recognized as Component of Other Comprehensive Income

Amounts related to our defined benefit pension plans recognized as a component of other comprehensive income were as follows:

	2018				2017				2016
Net actuarial gain (loss)	$	(2,223	)		$	4,832			$	9,188
Deferred tax (expense) benefit	466				(1,774		)		(3,216		)
Other comprehensive income (loss), net of tax	$	(1,757	)		$	3,058			$	5,972

Defined Benefit Pension Plans Not Recognized as Component of Combined Net Period Benefit Cost

We expect to recognize approximately $5.6 million of the net actuarial loss reported in the following table as of December 31, 2018 as a component of net periodic benefit cost during 2019.

	2018				2017
Net actuarial loss	$	(60,123	)		$	(57,900	)
Deferred tax benefit	12,626				12,160
Amounts included in accumulated other comprehensive income/loss, net of tax	(47,497		)		(37,718		)

Weighted-Average Assumptions Used to Determine Benefit Obligations

The weighted-average assumptions used to determine the benefit obligations as of the end of the years indicated and the net periodic benefit cost for the years indicated are presented in the table below. Because the plans were frozen, increases in compensation are not considered after 2001.

	2018			2017			2016
Benefit obligations:
Discount rate	4.36	%		3.68	%		4.24	%
Net periodic benefit cost:
Discount rate	3.68	%		4.24	%		4.55	%
Expected return on plan assets	7.25			7.25			7.25

Fair Value of Plan Assets

The major categories of assets in our Retirement Plan as of year-end are presented in the following table. Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 “Fair Value Measurements and Disclosures,” utilized to measure fair value (see Note 17 - Fair Value Measurements). Our Restoration Plan is unfunded.

	2018				2017
Level 1:
Mutual funds	$	152,477			$	165,322
Cash and cash equivalents	343				3,128
Total fair value of plan assets	$	152,820			$	168,450

Expected Future Benefit Payments Related to Defined Benefit Plans

As of December 31, 2018, expected future benefit payments related to our defined benefit plans were as follows:

2019	$	9,753
2020	10,208
2021	10,519
2022	10,779
2023	11,077
2024 through 2028	56,225
	$	108,561

Options Outstanding and Exercisable

Other information regarding options outstanding and exercisable as of December 31, 2018 is as follows:

										Options Outstanding									Options Exercisable
Range of Exercise Prices										Number of Shares			Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Life in Years		Number of Shares			Weighted- Average Exercise Price
$	45.01			to		$	50.00			260,855			$	48.00			2.97		260,855			$	48.00
50.01				to		55.00				676,059			52.98				2.62		676,059			52.98
65.01				to		70.00				608,336			65.11				6.68		417,227			65.11
70.01				to		75.00				287,506			71.38				4.95		287,506			71.38
75.01				to		80.00				519,252			78.95				5.87		519,252			78.95
						Total				2,352,008			63.55				4.71		2,160,899			63.41

Shares Issued in Connection With Stock Compensation Awards

A combined summary of activity in our active stock plans is presented in the table. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. The target award level for performance stock units granted in 2018, 2017 and 2016 was 30,466, 24,162 and 29,240, respectively. As of December 31, 2018, there were 1,264,277 shares remaining available for grant for future awards.

		Director Deferred Stock Units Outstanding							Non-Vested Stock Awards/Stock Units Outstanding							Performance Stock Units Outstanding							Stock Options Outstanding
		Number of Units			Weighted- Average Fair Value at Grant				Number of Shares/Units			Weighted- Average Fair Value at Grant				Number of Units			Weighted- Average Fair Value at Grant				Number of Shares			Weighted- Average Exercise Price
January 1, 2016		45,443			$	61.35			173,180			$	66.05			—			$	—			5,612,240			$	60.30
Authorized		—			—				—			—				—			—				—			—
Granted		8,216			63.25				132,800			76.07				43,860			69.70				—			—
Exercised/vested		—			—				(49,130	)		54.56				—			—				(1,476,841	)		53.40
Forfeited/expired		—			—				—			—				—			—				(46,371	)		71.04
December 31, 2016		53,659			61.48				256,850			73.43				43,860			69.70				4,089,028			62.67
Authorized		—			—				—			—				—			—				—			—
Granted		5,447			95.37				99,833			98.90				36,246			92.27				—			—
Exercised/vested		(6,098	)		62.29				(39,740	)		71.59				—			—				(1,118,122	)		60.59
Forfeited/expired		—			—				(4,287	)		79.52				—			—				(53,764	)		69.78
December 31, 2017		53,008			64.87				312,656			81.71				80,106			79.91				2,917,142			63.34
Authorized		—			—				—			—				—			—				—			—
Granted		6,576			109.58				109,847			94.81				45,703			87.18				—			—
Exercised/vested		(10,674	)		63.68				(32,050	)		78.92				—			—				(513,134	)		61.68
Forfeited/expired		—			—				(6,656	)		87.60				—			—				(52,000	)		70.42
December 31, 2018		48,910			$	71.14			383,797			$	85.59			125,809			$	82.55			2,352,008			$	63.55

Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:

	2018				2017				2016
New shares issued from available authorized shares	—				603,842				—
Issued from available treasury stock	548,238				547,078				1,509,121
Total	548,238				1,150,920				1,509,121
Proceeds from stock option exercises	$	31,647			$	67,746			$	78,866
Intrinsic value of stock options exercised	23,292				38,275				30,935
Fair value of stock awards/units vested	4,212				4,578				3,679

Stock-Based Compensation Expense

Stock-based compensation expense and the related income tax benefit is presented in the following table. The service period for performance stock units granted each year begins on January 1 of the following year.

	2018				2017				2016
Stock options	$	3,652			$	6,230			$	8,235
Non-vested stock awards/stock units	6,983				4,992				3,044
Deferred stock-units	721				519				520
Performance stock units	2,587				1,272				—
Total	$	13,943			$	13,013			$	11,799
Income tax benefit	$	2,831			$	4,555			$	4,130

Unrecognized Stock-Based Compensation Expense

Unrecognized stock-based compensation expense and the weighted-average period over which the expense is expected to be recognized at December 31, 2018 is presented in the table below. Unrecognized stock-based compensation expense related to performance stock units is presented assuming attainment of the maximum payout rate as set forth by the performance criteria.

	Unrecognized Expense				Weighted-Average Number of Years for Expense Recognition
Stock options	$	1,290			0.80
Non-vested stock awards/stock units	17,802				2.74
Performance stock units	6,527				1.77
Total	$	25,619

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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
-Subparagraph (k)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

+ 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 (b)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost.

+ 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
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=112275985&loc=d3e4179-114921

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e2439-114920

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e2410-114920

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e2417-114920

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ 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 (j)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for share-based compensation plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration