XML 108 R30.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Employee Benefit Plans | 12 Months Ended
--- | ---
Dec. 31, 2017
Compensation Related Costs [Abstract] |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS Profit Sharing Plan. The Company has a noncontributory profit sharing plan. All employees, other than temporary employees, working 20 hours or more per week are eligible to participate in the profit sharing plan. The Company’s Board of Directors authorizes all contributions to the profit sharing plan. Participants become 100% vested upon the completion of three years of vesting service. Accrued contribution expense for this plan of $1.6 million, $2.7 million and $0.7 million in 2017, 2016 and 2015, respectively, is included in employee benefits expense in the Company’s consolidated statements of income. Savings Plan. In addition, the Company has a contributory employee savings plan. Eligibility requirements for this plan are the same as those for the profit sharing plan discussed in the preceding paragraph. Employee participation in the plan is at the option of the employee. The Company contributes $1.25 for each $1.00 of employee contributions up to 4% of the participating employee’s compensation. Contribution expense for this plan of $5.5 million, $4.8 million and $4.7 million in 2017, 2016 and 2015, respectively, is included in employee benefits expense in the Company’s consolidated statements of income. Post-Retirement Healthcare Plan. The Company sponsors a contributory defined benefit healthcare plan (the “Plan”) for active employees and employees and directors retiring from the Company at the age of at least 55 years and with at least 15 years of continuous service. Retired Plan participants contribute the full cost of benefits based on the average per capita cost of benefit coverage for both active employees and retired Plan participants. In 2016, the Company amended the Plan to discontinue offering healthcare benefits to future retirees beginning July 1, 2016, with current retirees as of July 1, 2016 continuing in the Plan. The Company recorded a $2.8 million gain in conjunction with the Plan amendment, which was recorded in other comprehensive income and is being amortized as a reduction in net periodic benefit cost over the weighted average remaining service period of active employees expected to receive post-retirement healthcare benefits under the Plan of approximately four years. The Plan amendment triggered a curtailment, which immediately reduced the Company's accumulated post-retirement benefit obligation and net periodic benefit cost by $2.8 million and $0.3 million, respectively. The Plan’s unfunded benefit obligation of $0.7 million and $0.7 million as of December 31, 2017 and 2016, respectively, is included in accounts payable and accrued expenses in the Company’s consolidated balance sheets. Net periodic benefit costs of $0.4 million, $0.2 million and $0.4 million for the years ended December 31, 2017, 2016 and 2015, respectively, are included in employee benefits expense in the Company’s consolidated statements of income. Weighted average actuarial assumptions used to determine the post-retirement benefit obligation at December 31, 2017, and the net periodic benefit costs for the year then ended, included a discount rate of 2.4% and a 6.0% annual increase in the per capita cost of covered healthcare benefits. Weighted average actuarial assumptions used to determine the post-retirement benefit obligation at December 31, 2016, and the net periodic benefit costs for the year then ended, included a discount rate of 2.4% and a 6.0% annual increase in the per capita cost of covered healthcare benefits. The estimated effect of a one percent increase or a one percent decrease in the assumed healthcare cost trend rate would not significantly impact the service and interest cost components of the net periodic benefit cost or the accumulated post-retirement benefit obligation. Future benefit payments are expected to be $0.13 million, $0.13 million, $0.10 million, $0.07 million, $0.05 million and $0.10 million for 2018, 2019, 2020, 2021, 2022, and 2023 through 2027, respectively. At December 31, 2017, the Company had accumulated other comprehensive gain related to the plan of $2.2 million, or $1.3 million net of related income tax benefit, comprised of net actuarial gains of $2.1 million and an unamortized transition asset of $0.1 million. The Company estimates $0.8 million will be amortized from accumulated other comprehensive gain into net period benefit costs in 2018.

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

X
- Definition The entire disclosure for compensation costs, including compensated absences accruals, compensated absences liability, deferred compensation arrangements and income statement compensation items. Deferred compensation arrangements may include a description of an arrangement with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares (units) issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 + Details
Name: | us-gaap_CompensationRelatedCostsGeneralTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration