Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Defined Benefit Plan Disclosure [Line Items]

Schedule of Defined Benefit Plans Disclosures

The following tables set forth the change in plan assets, change in projected benefit obligation, rate assumptions and components of net periodic benefit cost as of December 31 with respect to these plans. The measurement dates of the assets and liabilities of both plans were December 31 of the respective years presented.



	Year Ended December 31, 2016
(in thousands)	Hourly Employees’ Pension Plan				Employees’ Retirement Plan				Total
Change in projected benefit obligation
Benefit obligation at beginning of year		$	9,649			$	20,561		$	30,210
Service cost		8				4			12
Interest cost		401				886			1,287
Liability actuarial (gain) loss		(148		)		204			56
Benefits paid		(575		)		(868		)	(1,443		)
Settlements		(9,335		)		—			(9,335		)
Benefit obligation at end of year		—				20,787			20,787
Change in fair value of plan assets
Fair value of plan assets at beginning of year		9,019				16,692			25,711
Return on plan assets		119				1,284			1,403
Employer contributions		772				750			1,522
Benefits paid		(575		)		(868		)	(1,443		)
Settlements		(9,335		)		—			(9,335		)
Fair value of plan assets at end of year		—				17,858			17,858
Underfunded status – December 31, 2016		$	—			$	(2,929	)	$	(2,929	)



	Year Ended December 31, 2015
(in thousands)	Hourly Employees’ Pension Plan				Employees’ Retirement Plan				Total
Change in projected benefit obligation
Benefit obligation at beginning of year		$	10,456			$	21,595		$	32,051
Service cost		9				4			13
Interest cost		405				868			1,273
Liability actuarial (gain)		(574		)		(1,125		)	(1,699		)
Benefits paid		(647		)		(781		)	(1,428		)
Benefit obligation at end of year		9,649				20,561			30,210
Change in fair value of plan assets
Fair value of plan assets at beginning of year		9,223				17,114			26,337
Return on plan assets		(149		)		(273		)	(422		)
Employer contributions		592				632			1,224
Benefits paid		(647		)		(781		)	(1,428		)
Fair value of plan assets at end of year		9,019				16,692			25,711
Underfunded status – December 31, 2015		$	(630	)		$	(3,869	)	$	(4,499	)

Schedule of Assumptions Used

Assumptions used to determine benefit obligations at December 31:



	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2016	2015	2016	2015
Discount rate	N/A	4.30%	4.10%	4.40%
Composite rate of compensation increase	N/A	N/A	N/A	N/A

Assumptions used to determine net periodic benefit cost for the years ended December 31:



	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2016	2015	2016	2015
Discount rate	4.30%	4.00%	4.40%	4.10%
Long-term rate of return on plan assets	7.25%	7.25%	7.25%	7.25%
Composite rate of compensation increase	N/A	N/A	N/A	N/A

Schedule of Net Benefit Costs

The following tables present the components of net periodic benefit cost (gains are denoted with parentheses and losses are not):



	Year Ended December 31, 2016
(in thousands)	Hourly Employees’ Pension Plan				Employees’ Retirement Plan				Total
Service cost		$	8			$	4		$	12
Interest cost		401				886			1,287
Expected return on plan assets		(648		)		(1,196		)	(1,844		)
Amortization of net loss		284				440			724
Recognition of Settlement		2,889				—			2,889
Net periodic benefit cost		$	2,934			$	134		$	3,068



	Year Ended December 31, 2015
(in thousands)	Hourly Employees’ Pension Plan				Employees’ Retirement Plan				Total
Service cost		$	9			$	4		$	13
Interest cost		405				868			1,273
Expected return on plan assets		(661		)		(1,229		)	(1,890		)
Amortization of net loss		248				401			649
Net periodic benefit cost		$	1			$	44		$	45

Schedule of Allocation of Plan Assets

The pension plans' weighted-average asset allocations as a percentage of plan assets at December 31 are as follows:



	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2016	2015	2016	2015
Equity securities	—%	55%	54%	55%
Debt securities	—%	37%	38%	37%
Short-term investments	—%	3%	3%	3%
Other	—%	5%	5%	5%
Total	—%	100%	100%	100%

Fair Value, Assets Measured on Recurring Basis

The following table presents the hierarchy levels for our postretirement benefit plan investments as of December 31 as described in Note 1 to the Consolidated Financial Statements:



(in thousands)		December 31, 2016			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mutual Funds:
	Mid Cap		$	680		$	680		$	—	$	—
	Large Cap		3,553			3,553			—		—
	International		2,010			2,010			—		—

Common/Collective:
	Liability Driven Solution		2,522			—			2,522		—
	Wells Fargo BlackRock International Equity		727			—			727		—
	Wells Fargo Core Bond		1,254			—			1,254		—
	Wells Fargo/Causeway		741			—			741		—
	Wells Fargo BlackRock Large Cap Growth Index Fund		1,009			—			1,009		—
	Wells Fargo BlackRock Large Cap Value Index Fund		1,006			—			1,006		—
	Wells Fargo Multi-Manager Small Cap		1,189			—			1,189		—
	Wells Fargo Russell 2000 Index Fund		560			—			560		—
	Wells Fargo S&P Mid Cap Index Fund		630			—			630		—
	Wells Fargo/MFS Value CIT F		501			—			501		—
	Wells Fargo/T. Rowe Price I Large-Cap Growth Managed CIT		505			—			505		—
	T. Rowe Price Equity Income		504			—			504		—

Cash & Short-term Investments			467			467			—		—
	Total		$	17,858		$	6,710		$	11,148	$	—



(in thousands)		December 31, 2015			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mutual Funds:
	Mid Cap		$	1,623		$	1,623		$	—	$	—
	Large Cap		4,411			4,411			—		—
	International		2,915			2,915			—		—

Common/Collective:
	Liability Driven Solution		3,543			—			3,543		—
	Wells Fargo International Equity Index Fund		1,080			—			1,080		—
	Wells Fargo Core Bond		1,774			—			1,774		—
	Wells Fargo/Causeway		1,112			—			1,112		—
	Wells Fargo Large Cap Growth Index Fund		1,429			—			1,429		—
	Wells Fargo Large Cap Value Index Fund		1,415			—			1,415		—
	Wells Fargo Multi-Manager Small Cap		1,707			—			1,707		—
	Wells Fargo Russell 2000 Index Fund		800			—			800		—
	Wells Fargo S&P Mid Cap Index Fund		942			—			942		—
	Wells Fargo/MFS Value CIT F		736			—			736		—
	Wells Fargo/T. Rowe Price I Large-Cap Growth Managed CIT		749			—			749		—
	T. Rowe Price Equity Income		738			—			738		—

Cash & Short-term Investments			737			737			—		—
	Total		$	25,711		$	9,686		$	16,025	$	—

Schedule of Expected Benefit Payments

The following table illustrates the estimated pension benefit payments that are projected to be paid:



(in thousands)	Employees’ Retirement Plan
2017		$	1,033
2018		1,130
2019		1,149
2020		1,192
2021		1,249
Years 2022 through 2026		6,473

Supplemental Employee Retirement Plans, Defined Benefit