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Employee Benefits | 9 Months Ended
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Sep. 30, 2014
Postemployment Benefits [Abstract] |
Employee Benefits | NOTE 7 – EMPLOYEE BENEFITS Our healthcare benefit expense (net of employee contributions) was approximately $2,143 and $1,998 for the three months ended September 30, 2014 and 2013, respectively, for all plans, and $6,737 and $5,822 for the nine months ended September 30, 2014 and 2013, respectively. An accrual for estimated healthcare claims incurred but not reported (“IBNR”) is included within accrued compensation on the Condensed Consolidated Balance Sheets and was $1,089 and $913 as of September 30, 2014 and December 31, 2013, respectively. Workers’ compensation expense totaled $2,335 and $948 for the three months ended September 30, 2014 and 2013, respectively, and $5,955 and $4,041 for the nine months ended September 30, 2014 and 2013. Workers’ compensation known claims and IBNR reserves included in other current liabilities on the Condensed Consolidated Balance Sheet totaled $2,071 and $1,660 as of September 30, 2014 and December 31, 2013, respectively. Workers’ compensation known claims and IBNR reserves included in other long-term liabilities on the Condensed Consolidated Balance Sheet totaled $4,825 and $4,260 as of September 30, 2014 and December 31, 2013, respectively. Accrued insurance reserves included in other current liabilities on the Condensed Consolidated Balance Sheet totaled $1,453 and $1,012 as of September 30, 2014 and December 31, 2013, respectively. Accrued insurance reserves included in other long-term liabilities on the Condensed Consolidated Balance Sheet totaled $4,447 and $3,266 as of September 30, 2014 and December 31, 2013, respectively. We also had an insurance receivable for claims that exceeded the stop loss limit and are included in other non-current assets on the face of the Condensed Consolidated Balance Sheet. That receivable offsets an equal liability included within the reserve amounts noted above and totaled $2,771 and $2,055 as of September 30, 2014 and December 31, 2013, respectively. Share-Based Compensation On June 18, 2014, we granted 23,490 shares of restricted stock at a price of $12.77 per share (which represents market price on the grant date) to non-employee members of our Board of Directors. These shares effectively vested on the grant date since there is no service period associated with these awards. The lack of a vesting or service period may not apply to any future share grants under our 2014 Omnibus Incentive Plan. Accordingly, for the nine months ended September 30, 2014, we recorded $300 in compensation expense within administrative expenses on the Condensed Consolidated Statements of Operations. Since all shares vested immediately, there is no unearned compensation expense related to non-vested share-based compensation recorded on our Condensed Consolidated Balance Sheet as of September 30, 2014. No restricted stock had been granted prior to this date and accordingly, no shares were granted and no compensation expense was recorded during the nine months ended September 30, 2013, and no vested or nonvested restricted stock awards existed as of that date. The weighted-average grant-date fair value is the same as the issue price for all shares since all of the shares vested at the grant date. All shares are fully vested and no shares expired or were forfeited during the nine months ended September 30, 2014. As of September 30, 2014, 2,976,510 of the 100,000,000 shares of common stock authorized for issuance were available for issuance under the 2014 Omnibus Incentive Plan.

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- Definition The entire disclosure of an entity's employee compensation and benefit plans, excluding share-based compensation and including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, life insurance, severance, health care, unemployment and other benefit plans. + References No definition available. + Details
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- Details
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