XML 36 R22.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Multiemployer Plans | 12 Months Ended
--- | ---
Dec. 31, 2017
Multiemployer Plans |
Multiemployer Plans | Note 16 — Multiemployer Plans Union Plans—Various subsidiaries are signatories to collective bargaining agreements. These agreements require that we participate in and contribute to a number of multiemployer benefit plans for our union employees at rates determined by the agreements. The trustees for each multiemployer plan determine the eligibility and allocations of contributions and benefit amounts, determine the types of benefits and administer the plan. We contributed $46.9 million, $34.2 million, and $34.3 million, to multiemployer pension plans for the years ended December 31, 2017, 2016 and 2015, respectively. These costs were charged to the related construction contracts in process. Contributions during 2017 increased from the prior years as a result of an increase in the number of man-hours worked by our union labor. The financial risks of participating in multiemployer plans are different from single-employer plans in the following respects:
| · |  | Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.
| · |  | If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers.
| · |  | If a participating employer chooses to stop participating in the plan, a withdrawal liability may be created based on the unfunded vested benefits for all employees in the plan.
Under U.S. legislation regarding multiemployer pension plans, an employer is required to pay an amount that represents its proportionate share of a plan’s unfunded vested benefits in the event of withdrawal from a plan or upon plan termination. We participate in a number of multiemployer pension plans, and our potential withdrawal obligation may be significant. Any withdrawal liability would be recorded when it is probable that a liability exists and can be reasonably estimated, in accordance with GAAP. As discussed in Note 13—“Commitments and Contingencies,” in 2011 we withdrew from the Central States Southeast and Southwest Areas Pension Fund multiemployer pension plan. We have no plans to withdraw from any other labor agreements. During the last three years, we made annual contributions to 78 pension plans. None of the pension plans that we contributed to in 2017 and 2016 listed us in the plan’s Form 5500 as providing more than 5% of the plan’s total contributions. Two of the pension plans that we contributed to in 2015 listed us in the plan’s Form 5500 as providing more than 5% of the plan’s total contributions. The contribution to one plan was $2.2 million and $0.5 million for the second plan. Our participation in significant plans for the years ended December 31, 2017, 2016 and 2015 is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employer Identification Number (“EIN”) and the three digit plan number. The “Zone Status” is based on the latest information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented. The “Surcharge Imposed” column includes plans in a red zone status that require a payment of a surcharge in excess of regular contributions. The next column lists the expiration date of our collective bargaining agreement related to the plan. The table follows:
|  |  |  |  |  |  |  |  |  |  |  | Collective |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | FIP/RP |  |  |  | Bargaining |  |  |  |  |  |  |  |  |  |
|  | EIN / |  | Pension Protection Act |  | Status |  |  |  | Agreement |  |  |  |  |  |  |  |  |  |
|  | Pension Plan |  | Zone Status |  | Pending / |  | Surcharge |  | Expiration |  | Contributions of the Company |
Pension Fund Name |  | Number |  | 2017 |  | 2016 |  | Implemented |  | Imposed |  | Date |  | 2017 |  | 2016 |  | 2015 |
Central Pension Fund of the International Union of Operating Engineers and Participating Employers |  | 36-6052390/001 |  | Green as of February 1, 2016 |  | Green as of February 1, 2015 |  | No |  | No |  | 5/31/2020 |  | $ | 7,562 |  | $ | 5,373 |  | $ | 5,659 |
Pipeline Industry Benefit Fund |  | 73-6146433/001 |  | Green as of January 1, 2016 |  | Green as of January 1, 2015 |  | No |  | No |  | 5/31/2020 |  |  | 6,050 |  |  | 2,740 |  |  | 3,783 |
Laborers International Union of North America National (Industrial) Pension Fund |  | 52-6074345/001 |  | Red as of January 1, 2016 |  | Red as of January 1, 2015 |  | No |  | No |  | 5/31/2020 |  |  | 4,658 |  |  | 2,415 |  |  | 3,287 |
Southern California Pipetrades Trust Funds |  | 51-6108443/001 |  | Green as of January 1, 2016 |  | Green as of January 1, 2015 |  | No |  | No |  | 9/30/2022 |  |  | 3,219 |  |  | 2,614 |  |  | 2,180 |
Laborers Pension Trust Fund for Northern California |  | 94-6277608/001 |  | Yellow as of June 1, 2016 |  | Yellow as of June 1, 2015 |  | No |  | No |  | 6/30/2019 |  |  | 2,945 |  |  | 3,598 |  |  | 3,150 |
National Pension Fund |  | 52-6152779 |  | Yellow as of July 1 2017 |  | Yellow as of July 1 2016 |  | No |  | No |  | 9/30/2022 |  |  | 2,548 |  |  | 2,161 |  |  | 2,106 |
Operating Engineer Trust Funds |  | 95-6032478/001 |  | Yellow as of July 1, 2016 |  | Yellow as of July 1, 2016 |  | No |  | No |  | 6/30/2019 |  |  | 2,448 |  |  | 1,643 |  |  | 1,401 |
|  |  |  |  |  |  |  | Contributions to significant plans |  |  | 29,430 |  |  | 20,544 |  |  | 21,566 |
|  |  |  |  |  |  |  | Contributions to other multiemployer plans |  |  | 17,505 |  |  | 13,639 |  |  | 12,730 |
|  |  |  |  |  |  |  | Total contributions made |  | $ | 46,935 |  | $ | 34,183 |  | $ | 34,296 |

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

X
- Definition The entire disclosure for postemployment benefits, which may include supplemental unemployment benefits, obligations recognized for all types of benefits provided to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement. Disclosure may also include discussion that an obligation for postemployment benefits is not accrued in accordance with regulation only because the amount cannot be reasonably estimated. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 + Details
Name: | us-gaap_PostemploymentBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration