XML 66 R40.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract] |
Amounts included in Accumulated other comprehensive income, before tax |
December 31, | 2014 |  | 2013
(Dollars in thousands) |  |  |  |  |
Net prior service costs | $ | 17,246 |  | $ | 18,833
Net actuarial loss |  | (8,436) |  |  | (20,713)
| $ | 8,810 |  | $ | (1,880)
Funded status of post-retirement benefit plans |
December 31, | 2014 |  | 2013
(Dollars in thousands) |  |  |  |  |
Change in benefit obligation |  |  |  |  |
| Benefit obligation at beginning of year | $ | 46,142 |  | $ | 54,568
| Service cost |  | 1,018 |  |  | 1,348
| Interest cost |  | 2,255 |  |  | 2,137
| Plan amendments |  | (2,057) |  |  | -
| Actuarial (gain) loss |  | (10,897) |  |  | (9,437)
| Prescription drug subsidy |  | 264 |  |  | -
| Employee contribution |  | 2,216 |  |  | 2,230
| Benefits paid |  | (4,296) |  |  | (4,704)
| Benefit obligation at end of year |  | 34,645 |  |  | 46,142
Change in plan assets |  |  |  |  |
| Fair value of plan assets at beginning of year |  | 49,743 |  |  | 45,047
| Actual return (loss) on plan assets |  | 3,495 |  |  | 6,973
| Employee contribution |  | 2,216 |  |  | 2,230
| Employer contribution |  | 166 |  |  | 197
| Benefits paid |  | (4,296) |  |  | (4,704)
| Fair value of plan assets at end of year |  | 51,324 |  |  | 49,743
Funded status | $ | 16,679 |  | $ | 3,601
Fair value of plan assets |
December 31, 2014 |  |  |  |  |  |  |  |
(Dollars in thousands) | Level 1 |  | Level 2 |  | Total
Mutual funds |  |  |  |  |  |  |  |
| Bond (1) | $ | 12,842 |  | $ | - |  | $ | 12,842
| International equity (2) |  | 12,003 |  |  | - |  |  | 12,003
| Money market (3) |  | 2,053 |  |  | - |  |  | 2,053
| US large cap (4) |  | 20,191 |  |  | - |  |  | 20,191
| US small cap (5) |  | 4,234 |  |  | - |  |  | 4,234
Other |  | - |  |  | 1 |  |  | 1
Total plan assets at fair value | $ | 51,323 |  | $ | 1 |  | $ | 51,324
December 31, 2013 |  |  |  |  |  |  |  |
(Dollars in thousands) |  | Level 1 |  |  | Level 2 |  |  | Total
Mutual funds |  |  |  |  |  |  |  |
| Bond (1) | $ | 12,697 |  | $ | - |  | $ | 12,697
| International equity (2) |  | 9,876 |  |  | - |  |  | 9,876
| Money market (3) |  | 1,798 |  |  | - |  |  | 1,798
| US large cap (4) |  | 20,861 |  |  | - |  |  | 20,861
| US small cap (5) |  | 4,500 |  |  | - |  |  | 4,500
Other |  | - |  |  | 11 |  |  | 11
Total plan assets at fair value | $ | 49,732 |  | $ | 11 |  | $ | 49,743
B ond - The funds seek to achieve a maximum total return, consistent with preservation of capital and prudent investment management by investing in a wide spectrum of fixed income instruments including bonds, debt securities and other similar instruments issued by government and private-sector entities. International equity - The funds seek to provide long-term capital appreciation by investing in the stocks of companies located outside the United States that are considered to have the potential for above-average capital appreciation. Money market - The fund seeks as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity by investing in a diversified portfolio of high-quality, dollar-denominated short-term debt securities. US large cap - The funds seek to track the performance of several benchmark indices that measure the investment return of large-capitalization stocks. The funds attempt to replicate the indices by investing substantially all of their assets in the stocks that make up the various indices in approximately the same proportion as the weighting in the indices. US small cap - The fund seeks to track the performance of a benchmark index that measures the investment return of small-capitalization stocks. The fund attempts to replicate the index by investing substantially all of its assets in the stocks that make up the index in approximately the same proportion as the weighting in the index.
Plan asset investment allocation |
|  |  |  |  | Allocation of Plan Assets
|  |  |  |  | at December 31,
Investment |  | Target Asset |  |  |  |  |  |
Category |  | Allocation |  | 2014 |  | 2013
U.S. equities |  | 46 | % |  | 47.6 | % |  | 51.0 | %
International equities |  | 24 | % |  | 23.4 | % |  | 19.9 | %
Debt securities |  | 30 | % |  | 29.0 | % |  | 29.1 | %
Net periodic benefit cost |
Net periodic benefit cost recorded in the Consolidated Statement of Operations includes the following components:
Year Ended December 31, | 2014 |  | 2013 |  | 2012
(Dollars in thousands) |  |  |  |  |  |  |  |
Service cost | $ | 1,018 |  | $ | 1,348 |  | $ | 1,197
Interest cost |  | 2,255 |  |  | 2,137 |  |  | 2,297
Expected return on plan assets |  | (3,402) |  |  | (3,065) |  |  | (2,995)
Amortization of prior service costs (1) |  | (3,644) |  |  | (3,605) |  |  | (3,735)
Amortization of actuarial losses (2) |  | 1,287 |  |  | 2,452 |  |  | 2,517
Net post-retirement cost (benefit) | $ | (2,486) |  | $ | (733) |  | $ | (719)
(1) | Based on straight-line amortization over the average time remaining before active employees become fully eligible for plan benefits.
(2) | Based on straight-line amortization over the average time remaining before active employees retire.
Assumptions used to calculate net periodic benefit cost |
The following assumptions were used to determine benefit obligations and net periodic benefit cost:
December 31, | 2014 |  | 2013
Benefit obligations |  |  |  |  |
Discount rate | 4.20 | % |  | 5.00 | %
Net periodic benefit cost |  |  |  |  |
Discount rate | 5.00 | % |  | 4.00 | %
Expected return on plan assets | 7.00 | % |  | 7.00 | %
Change in health care cost trend rate |
| One Percent
| Increase |  | Decrease
(Dollars in thousands) |  |  |  |  |
Effect on total service and interest cost components | $ | 25 |  | $ | (23)
Effect on post-retirement benefit obligation | $ | 423 |  | $ | (393)
Estimated future post-retirement benefit payments |
Year |
(Dollars in thousands) |  |
2015 | $ | 1,687
2016 |  | 1,719
2017 |  | 1,662
2018 |  | 1,652
2019 |  | 1,667
2020-2024 |  | 9,442

X
- 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 major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=35743120&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35743120&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 effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs and the accumulated postretirement benefit obligation for health care benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (m) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock
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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=35743120&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=35743120&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 net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration