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Retirement plans (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
Pension costs, which primarily include costs for our qualified TRP and non-qualified SERP, are presented in the following table (in thousands):
 
2019
2018
2017
Service cost-benefits earned during the period
$
8

$
12

$
872

Interest cost on benefit obligation
23,066

21,337

23,985

Expected return on plan assets
(26,320
)
(30,935
)
(26,322
)
Amortization of prior service cost
90

168

635

Amortization of actuarial loss
6,123

5,124

8,357

Pension payment timing related charge
686

7,498

26

Expense for company-sponsored retirement plans
$
3,653

$
3,204

$
7,553
Schedule of Changes in Projected Benefit Obligations
The following table provides a reconciliation of pension benefit obligations (on a projected benefit obligation measurement basis), plan assets and funded status of company-sponsored retirement plans, along with the related amounts that are recognized in the Consolidated Balance Sheets (in thousands).
 
Dec. 31,
 
2019
2018
Change in benefit obligations
 
 
Benefit obligations as of beginning of year
$
554,795

$
614,111

Service cost
8

12

Interest cost
23,066

21,337

Actuarial loss (gain)
73,906

(40,135
)
Benefits paid
(34,771
)
(36,222
)
Acquisition of KFMB
—

25,966

Settlements (1)
(3,309
)
(30,274
)
Benefit obligations as of end of year
$
613,695

$
554,795

Change in plan assets
 
 
Fair value of plan assets as of beginning of year
$
407,550

$
439,149

Actual gain (loss) return on plan assets
87,165

(29,016
)
Employer contributions
23,100

45,219

Benefits paid
(34,771
)
(36,222
)
Acquisition of KFMB
—

18,694

Settlements (1)
(3,309
)
(30,274
)
Fair value of plan assets as of end of year
$
479,735

$
407,550

Funded status as of end of year
$
(133,960
)
$
(147,245
)
Amounts recognized in Consolidated Balance Sheets
Accrued liabilities other—current
$
(6,814
)
$
(7,870
)
Pension liabilities—non-current
$
(127,146
)
$
(139,375
)
(1) Settlements represent lump sum benefit payments to certain SERP plan participants. When aggregate lump sums exceed the settlement threshold, pension payment timing related charges are incurred, and the lump sum payments prompting the charge are shown on a separate line from other benefit payments.
Schedule of Net Funded Status
The funded status (on a projected benefit obligation basis of our principal retirement plans as of December 31, 2019, is as follows (in thousands):
 
Fair Value of Plan Assets
Benefit Obligation
Funded Status
TRP
$
479,735

$
547,140

$
(67,405
)
SERP (1)
—

66,085

(66,085
)
All other
—

470

(470
)
Total
$
479,735

$
613,695

$
(133,960
)
(1) The SERP is an unfunded, unsecured liability
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The following table presents information for our retirement plans for which accumulated benefit obligation exceed assets (in thousands):
 
Dec. 31,
 
2019
2018
Accumulated benefit obligation
$
613,655

$
554,768

Fair value of plan assets
$
479,735

$
407,550
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The following table presents information for our retirement plans for which projected benefit obligations exceed assets (in thousands):
 
Dec. 31,
 
2019
2018
Projected benefit obligation
$
613,695

$
554,795

Fair value of plan assets
$
479,735

$
407,550
Schedule of Net Periodic Benefit Cost Not yet Recognized
The following table summarizes the pre-tax amounts recorded in accumulated other comprehensive loss that have not yet been recognized as a component of pension expense (in thousands):
 
Dec. 31,
 
2019
2018
Net actuarial losses
$
(188,862
)
$
(182,610
)
Prior service cost
(1,797
)
(1,888
)
Amounts in accumulated other comprehensive loss
$
(190,659
)
$
(184,498
)
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss), pre-tax, consist of the following (in thousands):
 
2019
2018
2017
Current year net actuarial loss
$
(13,060
)
$
(19,817
)
$
16,272

Amortization of previously deferred actuarial loss
6,123

5,124

8,357

Amortization of previously deferred prior service costs
90

168

635

Pension payment timing related charges
686

7,498

—

Curtailment gain
—

—

4,716

Prior service cost recognized in curtailment
—

—

26

Total
$
(6,161
)
$
(7,027
)
$
30,006
Schedule of Assumptions Used
Pension costs: The following assumptions were used to determine net pension costs:
 
2019

2018
 
2017
Discount rate
4.34%
 
3.64%
 
4.12%
Expected return on plan assets
6.75%
 
7.00%
 
7.00%
Schedule Of Assumptions Used In Calculating Pension Benefit Obligations Table The following assumptions were used to determine the year-end benefit obligations:
 
Dec. 31,
 
2019

2018
Discount rate
3.29%
 
4.34%
Schedule of Allocation of Plan Assets The asset allocation for the TRP as of the end of 2019 and 2018, and target allocations for 2020, by asset category, are presented in the table below: 
Target Allocation
 
 
Allocation of Plan Assets
 
2020
 
2019
 
2018
Equity securities
57
%
 
58
%
 
57
%
Debt securities
38
%
 
38
%
 
39
%
Other (including hedge funds and private real estate)
5
%
 
4
%
 
4
%
Total
100
%
 
100
%
 
100
%
Schedule of Expected Benefit Payments We estimate we will make the following benefit payments from either retirement plan assets or directly from our funds (in thousands):
2020
$
47,741

2021
$
39,094

2022
$
40,183

2023
$
39,883

2024
$
40,025

2025-2029
$
192,826