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MULTI-EMPLOYER WITHDRAWAL LIABILITY | 12 Months Ended
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Dec. 31, 2016
MULTI-EMPLOYER WITHDRAWAL LIABILITY |
MULTI-EMPLOYER WITHDRAWAL LIABILITY | 12.MULTI-EMPLOYER WITHDRAWAL LIABILITY Horizon ceased all of its operations in Puerto Rico during the first quarter of 2015, which resulted in a mass withdrawal from its multi-employer ILA-PRSSA pension fund (see Note 3). The Company estimated the mass withdrawal liability based upon the expected future undiscounted payments to be paid by the Company, discounted using the Company’s incremental borrowing rate. Payments of approximately $1.0 million are made quarterly to the ILA-PRSSA over a remaining period ending in March 2040. Future estimated annual payments to the multi-employer pension plan as of December 31, 2016 were as follows (in millions):
Year |  | Total
2017 |  | $ | 4.1
2018 |  |  | 4.1
2019 |  |  | 4.1
2020 |  |  | 4.1
2021 |  |  | 4.1
Thereafter |  |  | 76.3
Total future payments |  |  | 96.8
Less: amount representing interest |  |  | (32.6)
Present value of remaining withdrawal liability |  |  | 64.2
Current portion of withdrawal liability |  |  | (4.1)
Long-term portion of withdrawal liability |  | $ | 60.1
The current portion of $4.1 million of the mass withdrawal liability is included in accruals and other liabilities in the Consolidated Balance Sheet (see Note 2).

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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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- References No definition available. + Details
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