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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2013
Employee Benefit Plans |
Summary of Net Periodic Benefit Cost and Actuarial Assumptions Used to Determine Net Cost |
|  | Year ended December 31, |
|  | 2013 |  | 2012 |  | 2011 |
|  | (dollars in thousands) |
Interest cost on projected benefit obligation |  | $ | 3,710 |  | $ | 4,011 |  | $ | 4,526 |
Return on plan assets |  | (4,509 | ) | (4,783 | ) | (5,046 | )
Recognized net actuarial losses |  | 6,330 |  | 5,487 |  | 4,050 |
Net periodic benefit cost |  | $ | 5,531 |  | $ | 4,715 |  | $ | 3,530 |
Actuarial assumptions used to determine net cost: |  |  |  |  |  |  |
Discount rate |  | 3.58 | % | 4.10 | % | 5.18 | %
Expected return on assets |  | 6.75 | % | 7.00 | % | 7.50 | %
Rate of increase in compensation |  | n.a. |  | n.a. |  | n.a. |
Target and Actual Asset Allocation for Pension Plan by Asset Category |
|  | Percentage of Plan Assets at December 31, |
|  | Target |  |  |  |  |
|  | Allocation |  |  |  |  |
Asset Category |  | 2014 |  | 2013 |  | 2012 |
Cash |  | 5.0 | % | 5.2 | % | 6.6 | %
Equity securities: |  |  |  |  |  |  |
Domestic |  | 65.0 | % | 63.4 | % | 67.5 | %
International |  | 25.0 | % | 25.9 | % | 20.8 | %
Fixed income securities |  | 5.0 | % | 5.5 | % | 5.1 | %
Total |  | 100.0 | % | 100.0 | % | 100.0 | %
Future Benefit Payments Under Defined Benefit Pension Plan |
Year ended December 31, |  | (in thousands) |
2014 |  | $ | 6,046 |
2015 |  | 6,158 |
2016 |  | 6,174 |
2017 |  | 6,178 |
2018 |  | 6,293 |
Thereafter |  | 31,554 |
|  | $ | 62,403 |
Changes in Fair Value of Plan Assets and Plan Benefit Obligations and Funded Status of Plan |
|  | Year ended December 31, |
|  | 2013 |  | 2012 |
|  | (in thousands) |
Change in Fair Value of Plan Assets |  |  |  |  |
Balance at beginning of year |  | $ | 66,137 |  | $ | 62,105 |
Actual return on plan assets |  | 8,545 |  | 3,621 |
Company contribution |  | 3,478 |  | 5,780 |
Benefit payments |  | (5,543 | ) | (5,369 | )
Balance at end of year |  | $ | 72,617 |  | $ | 66,137 |
|  | Year ended December 31, |
|  | 2013 |  | 2012 |
|  | (in thousands) |
Change in Benefit Obligations |  |  |  |  |
Balance at beginning of year |  | $ | 105,320 |  | $ | 100,656 |
Interest cost |  | 3,710 |  | 4,011 |
Assumption change loss |  | (9,627 | ) | 6,031 |
Actuarial (gain) loss |  | 1,318 |  | (9 | )
Benefit payments |  | (5,543 | ) | (5,369 | )
Balance at end of year |  | $ | 95,178 |  | $ | 105,320 |
Amounts Recognized in Consolidated Balance Sheets |
|  | At December 31, |
|  | 2013 |  | 2012 |
|  | (in thousands) |
Funded Status |  |  |  |  |
Funded status at December 31, |  | $ | (22,561 | ) | $ | (39,183 | )
Amounts recognized in Consolidated Balance Sheets consist of: |  |  |  |  |
Current liabilities |  | $ | (194 | ) | $ | (187 | )
Long-term liabilities |  | (22,367 | ) | (38,996 | )
Net amount recognized in Consolidated Balance Sheets |  | $ | (22,561 | ) | $ | (39,183 | )
Amounts Not Yet Reflected in Net Periodic Benefit Cost and Included in Accumulated Other Comprehensive Loss |
|  | Year ended December 31, |
|  | 2013 |  | 2012 |
|  | (in thousands) |
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss: |  |  |  |  |
Net actuarial loss |  | $ | (42,261 | ) | $ | (60,935 | )
Accumulated other comprehensive loss |  | (42,261 | ) | (60,935 | )
Cumulative Company contributions in excess of net periodic benefit cost |  | 19,700 |  | 21,752 |
Net amount recognized in Consolidated Balance Sheets |  | $ | (22,561 | ) | $ | (39,183 | )
Actuarial Assumptions Used to Determine Benefit Obligation |
|  | Year ended December 31, |
|  | 2013 |  | 2012 |
Actuarial assumptions used to determine benefit obligation: |  |  |  |  |
Discount rate |  | 4.47% |  | 3.58% |
Rate of increase in compensation |  | n.a. |  | n.a. |
Measurement date |  | December 31 |  | December 31 |
Plan Assets at Fair Value |
|  | Quoted Prices |  |  |  |  |  |  |
|  | in Active |  |  |  |  |  |  |
|  | Markets for |  | Significant |  | Significant |  |  |
|  | Identical |  | Observable |  | Unobservable |  |  |
|  | Assets |  | Inputs |  | Inputs |  |  |
At December 31, 2013 |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total Value |
|  | (in thousands) |
Cash and cash equivalents |  | $ | 3,762 |  | $ | — |  | $ | — |  | $ | 3,762 |
Fixed Income |  | 4,000 |  | — |  | — |  | 4,000 |
Mutual Funds |  | 13,234 |  | — |  | — |  | 13,234 |
Equity Partnerships |  | — |  | 6,876 |  | — |  | 6,876 |
Hedge Fund Investments: |  | — |  |  |  |  |  |  |
Cash |  | 527 |  | — |  | — |  | 527 |
Long-Short Equity Fund |  | — |  | 14,566 |  | 11,655 |  | 26,221 |
Event Driven Fund |  | — |  | 5,928 |  | 8,752 |  | 14,680 |
Distressed Credit |  | — |  | — |  | 1,429 |  | 1,429 |
Multi-Strategy Fund |  | — |  | — |  | 1,888 |  | 1,888 |
Total |  | $ | 21,523 |  | $ | 27,370 |  | $ | 23,724 |  | $ | 72,617 |
|  | Quoted Prices |  |  |  |  |  |  |
|  | in Active |  |  |  |  |  |  |
|  | Markets for |  | Significant |  | Significant |  |  |
|  | Identical |  | Observable |  | Unobservable |  |  |
|  | Assets |  | Inputs |  | Inputs |  |  |
At December 31, 2012 |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total Value |
|  | (in thousands) |
Cash and cash equivalents |  | $ | 4,386 |  | $ | — |  | $ | — |  | $ | 4,386 |
Fixed Income |  | 3,368 |  | — |  | — |  | 3,368 |
Mutual Funds |  | 8,230 |  | — |  | — |  | 8,230 |
Equity Partnerships |  | — |  | 5,823 |  | — |  | 5,823 |
Hedge Fund Investments: |  |  |  |  |  |  |  |  |
Cash |  | 2,591 |  | — |  | — |  | 2,591 |
Long-Short Equity Fund |  | — |  | 9,826 |  | 9,992 |  | 19,818 |
Event Driven Fund |  | — |  | 6,542 |  | 7,152 |  | 13,694 |
Distressed Credit |  | — |  | 2,829 |  | 2,559 |  | 5,388 |
Multi-Strategy Fund |  | — |  | 889 |  | 1,950 |  | 2,839 |
Total |  | $ | 18,575 |  | $ | 25,909 |  | $ | 21,653 |  | $ | 66,137 |
Summary of Changes in the Fair Value of the Level 3 Plan Assets |
|  | Changes in Fair Value of Level 3 Assets |
|  | Long- |  |  |  |  |  |  |  |  |
|  | Short |  | Event |  |  |  | Multi- |  |  |
|  | Equity |  | Driven |  | Distressed |  | Strategy |  |  |
|  | Fund |  | Fund |  | Credit |  | Fund |  | Total |
|  | (in thousands) |
Balance, December 31, 2012 |  | $ | 9,992 |  | $ | 7,152 |  | $ | 2,559 |  | $ | 1,950 |  | $ | 21,653 |
Realized gains |  | — |  | — |  | (7 | ) | (5 | ) | (12 | )
Unrealized gains |  | 2,971 |  | 1,252 |  | 158 |  | 223 |  | 4,604 |
Purchases |  | 1,343 |  | 459 |  | 6 |  | 9 |  | 1,817 |
Sales |  | — |  | — |  | (517 | ) | (378 | ) | (895 | )
Transfer to Level 2 (1) |  | (3,443 | ) | — |  | — |  | — |  | (3,443 | )
Balance, December 31, 2013 |  | $ | 10,863 |  | $ | 8,863 |  | $ | 2,199 |  | $ | 1,799 |  | $ | 23,724 |
(1) The transfer of $3.4 million from Level 3 to Level 2 was comprised of certain hedge funds that became redeemable within 90 days from December 31, 2013.
|  | Changes in Fair Value of Level 3 Assets |
|  | Long- |  |  |  |  |  |  |  |  |
|  | Short |  | Event |  |  |  | Multi- |  |  |
|  | Equity |  | Driven |  | Distressed |  | Strategy |  |  |
|  | Fund |  | Fund |  | Credit |  | Fund |  | Total |
|  | (in thousands) |
Balance, December 31, 2011 |  | $ | 12,821 |  | $ | 7,126 |  | $ | 6,252 |  | $ | 3,530 |  | $ | 29,729 |
Realized gains |  | — |  | — |  | 5 |  | 2 |  | 7 |
Unrealized gains |  | 1,624 |  | 522 |  | 365 |  | 173 |  | 2,684 |
Purchases |  | 5,555 |  | 3,798 |  | 20 |  | 19 |  | 9,392 |
Sales |  | — |  | — |  | (894 | ) | (773 | ) | (1,667 | )
Transfer to Level 2 (2) |  | (10,008 | ) | (4,294 | ) | (3,189 | ) | (1,001 | ) | (18,492 | )
Balance, December 31, 2012 |  | $ | 9,992 |  | $ | 7,152 |  | $ | 2,559 |  | $ | 1,950 |  | $ | 21,653 |
(2) The transfer of $18.5 million from Level 3 to Level 2 was comprised of certain hedge funds that became redeemable within 90 days from December 31, 2012.
Benefit Obligations in Excess of the Fair Value of Plan Assets |
|  | At December 31, 2013 |  | At December 31, 2012 |
|  |  |  | Benefit |  |  |  |  |  | Benefit |  |  |
|  | Pension |  | Equalization |  |  |  | Pension |  | Equalization |  |  |
|  | Plan |  | Plan |  | Total |  | Plan |  | Plan |  | Total |
|  | (in thousands) |
Projected benefit obligation |  | $ | 91,946 |  | $ | 3,232 |  | $ | 95,178 |  | $ | 101,796 |  | $ | 3,524 |  | $ | 105,320 |
Accumulated benefit obligation |  | $ | 91,946 |  | $ | 3,232 |  | $ | 95,178 |  | $ | 101,796 |  | $ | 3,524 |  | $ | 105,320 |
Fair value of plan assets |  | $ | 72,617 |  | $ | — |  | $ | 72,617 |  | $ | 66,137 |  | $ | — |  | $ | 66,137 |
Projected benefit obligation greater than fair value of plan assets |  | $ | 19,329 |  | $ | 3,232 |  | $ | 22,561 |  | $ | 35,659 |  | $ | 3,524 |  | $ | 39,183 |
Accumulated benefit obligation greater than fair value of plan assets |  | $ | 19,329 |  | $ | 3,232 |  | $ | 22,561 |  | $ | 35,659 |  | $ | 3,524 |  | $ | 39,183 |
Multiemployer Plans |
|  |  |  | Pension Protections Act |  | FIP/RP Status |  | Company Contributions |  |  |  | Expiration Date of Collective |
|  | EIN/Pension |  | Zone Status |  | Pending Or |  | (amounts in millions) |  | Surcharge |  | Bargaining |
Pension Fund |  | Plan Number |  | 2013 |  | 2012 |  | Implemented |  | 2013 |  | 2012 |  | 2011 |  | Imposed |  | Agreement |
Pension, Hospitalization and Benefit Plan of the Electrical Industry - Pension Trust Account |  | 13-6123601/001 |  | Green |  | Green |  | No |  | 13.4 | (b) | 12.9 | (b) | 6.3 | (a) | No |  | 5/8/2016 |
Steamfitters Industry Pension Fund |  | 13-6149680/001 |  | Yellow |  | Yellow |  | Implemented |  | 4.3 | (b) | 3.5 | (b) | 3.5 | (a) | No |  | 6/30/2014 |
Excavators Union Local 731 Pension Fund |  | 13-1809825/002 |  | Green |  | Green |  | No |  | 3.2 |  | 3.3 |  | 2.9 |  | No |  | 6/30/2016 |
Carpenters Pension Trust Fund for Northern California |  | 94-6050970/001 |  | Red |  | Red |  | Implemented |  | 2.1 |  | 2.3 |  | 1.4 |  | No |  | 6/30/2015 |
(a) Amounts pertaining to plans from one of the Company’s newly acquired entities during 2011. (b) These amounts exceeded 5% of the respective total plan contributions.

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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References No definition available. + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans and the assumptions used to determine net benefit costs. Components of net benefit costs include 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. Assumptions include assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References No definition available. + Details
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- Definition Tabular disclosure of 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 of pension plans and/or other employee benefit plans. + References No definition available. + Details
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- Definition Tabular disclosure of the target and actual allocation of plan assets by major categories of plan assets of pension plans and/or other employee benefit plans. + References No definition available. + Details
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- 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=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the quantitative and qualitative information related to multiemployer plans in which the employer participates. A multiemployer plan is a pension or postretirement benefit plan to which two or more unrelated employers contribute where assets contributed by one participating employer may be used to provide benefits to employees of other participating employers. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -URI http://asc.fasb.org/subtopic&trid=2235144 + Details
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