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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Employee Benefit Plans [Abstract]  
Components of accumulated other comprehensive income (loss), net periodic benefit cost
The components of accumulated other comprehensive loss, which have not yet been recognized as components of net periodic benefit cost, related to pensions and other postretirement benefits at December 31, 2015 are summarized below. 

The Company expects that $2.3 million in net actuarial loss and nominal prior service costs will be recognized as components of net periodic benefit cost in 2016.
 
 
 
Pension Benefits
  
Other Benefits
 
(In thousands)
 
2015
  
2014
  
2015
  
2014
 
Net actuarial loss
 
$
33,070
  
$
28,767
  
$
2,333
  
$
2,929
 
Prior service cost
  
76
   
97
   
(95
)
  
(314
)
Total amounts recognized in accumulated other comprehensive loss (pre-tax)
 
$
33,146
  
$
28,864
  
$
2,238
  
$
2,615
 
 
Changes in benefit obligations, changes in plan assets, and the funded status of the pension plans and postretirement benefits
The following table sets forth changes in benefit obligations, changes in plan assets, and the funded status of the pension plans and other postretirement benefits:

 
 
Pension Benefits
  
Other Benefits
 
(In thousands)
 
2015
  
2014
  
2015
  
2014
 
Change in benefit obligation
 
  
  
  
 
Benefit obligation at beginning of year
 
$
98,556
  
$
85,667
  
$
8,710
  
$
7,428
 
Service cost
  
2,677
   
2,290
   
17
   
16
 
Interest cost
  
3,977
   
4,142
   
374
   
347
 
Plan participants' contributions
  
-
   
-
   
263
   
266
 
Actuarial(gain) loss
  
(5,225
)
  
12,501
   
(333
)
  
1,452
 
Settlement
  
(200
)
  
-
   
-
   
-
 
Benefits paid
  
(7,340
)
  
(6,044
)
  
(709
)
  
(799
)
Projected benefit obligation at end of year
  
92,445
   
98,556
   
8,322
   
8,710
 
Change in plan assets
                
Fair value of plan assets at beginning of year
  
117,232
   
118,574
   
-
   
-
 
Actual return on plan assets
  
(3,159
)
  
3,950
   
-
   
-
 
Employer contributions
  
796
   
752
   
446
   
533
 
Plan participants' contributions
  
-
   
-
   
263
   
266
 
Benefits paid
  
(7,340
)
  
(6,044
)
  
(709
)
  
(799
)
Fair value of plan assets at end of year
  
107,529
   
117,232
   
-
   
-
 
 
                
Funded status at year end
 
$
15,084
  
$
18,676
  
$
(8,322
)
 
$
(8,710
)
Amounts recognized in balance sheet
The funded status of the pension and other postretirement benefit plans has been recognized as follows in the consolidated balance sheets at December 31, 2015 and 2014. 

 
 
Pension Benefits
  
Other Benefits
 
(In thousands)
 
2015
  
2014
  
2015
  
2014
 
Other assets
 
$
34,965
  
$
39,044
  
$
-
  
$
-
 
Other liabilities
  
(19,881
)
  
(20,368
)
  
(8,322
)
  
(8,710
)
Funded status
 
$
15,084
  
$
18,676
  
$
(8,322
)
 
$
(8,710
)
 
Assumptions used to determine benefit obligations and net periodic pension cost
The following assumptions were used to determine the benefit obligation and the net periodic pension cost for the years indicated:

 
 
Years ended December 31,
 
 
2015
  
2014
  
2013
 
Weighted average assumptions:
 
  
  
 
The following assumptions were used to determine benefit obligations:
 
  
  
 
Discount rate
  
4.69%-4.71
%
  
4.19%-4.30
%
  
4.90%-5.05
%
Expected long-term return on plan assets
  
7.00
%
  
7.50
%
  
7.50
%
Rate of compensation increase
  
3.00
%
  
3.00%-3.75
%
  
3.00
%
 
            
The following assumptions were used to determine net periodic pension cost:
            
Discount rate
  
4.19%-4.30
%
  
4.90%-5.05
%
  
3.50
%
Expected long-term return on plan assets
  
7.50
%
  
7.50
%
  
7.50
%
Rate of compensation increase
  
3.00%-3.75
%
  
3.00%-3.75
%
  
3.00
%
Components of net periodic pension benefits and other benefit costs
Net periodic benefit cost and other amounts recognized in other comprehensive income (loss) for the years ended December 31 included the following components:

 
 
Pension Benefits
  
Other Benefits
 
(In thousands)
 
2015
  
2014
  
2013
  
2015
  
2014
  
2013
 
Components of net periodic benefit cost
                  
Service cost
 
$
2,677
  
$
2,290
  
$
2,493
  
$
17
  
$
16
  
$
23
 
Interest cost
  
3,977
   
4,142
   
3,223
   
374
   
347
   
286
 
Expected return on plan assets
  
(8,589
)
  
(8,681
)
  
(7,804
)
  
-
   
-
   
-
 
Amortization of gain due to settlement
  
(154
)
  
-
   
-
   
-
   
-
   
-
 
Amortization of prior service cost
  
21
   
23
   
23
   
(219
)
  
(206
)
  
(205
)
Amortization of unrecognized net loss
  
2,174
   
79
   
2,692
   
263
   
151
   
280
 
Net periodic pension cost
 
$
106
  
$
(2,147
)
 
$
627
  
$
435
  
$
308
  
$
384
 
 
                        
Other changes in plan assets and benefit obligations recognized in other comprehensive income (pre-tax)
                        
Net loss (gain)
 
$
6,523
  
$
17,233
  
$
(21,500
)
 
$
(333
)
 
$
1,452
  
$
(369
)
Prior service cost
  
-
   
-
   
-
   
-
   
-
   
(54
)
Amortization of gain due to settlement
  
(46
)
  
-
   
-
   
-
   
-
   
-
 
Amortization of prior service cost
  
(21
)
  
(23
)
  
(23
)
  
219
   
206
   
205
 
Amortization of unrecognized net gain
  
(2,174
)
  
(79
)
  
(2,692
)
  
(263
)
  
(151
)
  
(280
)
Total recognized in other comprehensive loss (income)
  
4,282
   
17,131
   
(24,215
)
  
(377
)
  
1,507
   
(498
)
 
                        
Total recognized in net periodic benefit cost and other comprehensive income (loss), pre-tax
 
$
4,388
  
$
14,984
  
$
(23,588
)
 
$
58
  
$
1,815
  
$
(114
)
 
Estimated future benefit payments for the pension plans and other postretirement benefit plans
The following table sets forth estimated future benefit payments for the pension plans and other postretirement benefit plans:
 
 (In thousands)
 
Pension
Benefits
  
Other
Benefits
 
2016
 
$
6,165
  
$
621
 
2017
  
7,649
   
647
 
2018
  
7,123
   
671
 
2019
  
7,024
   
661
 
2020
  
6,881
   
676
 
2021 - 2025
 
$
36,842
  
$
3,259
 
 
Effect of one-percentage point change in assumed health care cost trend rates
A one-percentage point change in the health care trend rates would have the following effects as of and for the year ended December 31, 2015:
 
(In thousands)
 
One Percentage point increase
  
One Percentage point decrease
 
Increase (decrease) on total service and interest cost components
 
$
38
  
$
(33
)
Increase (decrease) on postretirement accumulated benefit obligation
  
778
   
(670
)
Target and actual allocations of defined benefit pension plan's assets
The target and actual allocations expressed as a percentage of the defined benefit pension plan's assets are as follows:

 
 
Target 2015
  
2015
  
2014
 
Cash and cash equivalents
  
0 - 20
%
  
2
%
  
4
%
Fixed income securities
  
20 - 40
%
  
42
%
  
38
%
Equities
  
40 - 80
%
  
56
%
  
58
%
Total
      
100
%
  
100
%
Financial instruments recorded at fair value on a recurring basis by the Plan
The following table presents the financial instruments recorded at fair value on a recurring basis by the Plan as of December 31, 2015 and 2014:

(In thousands)
 
Quoted Prices in Active Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable Inputs
(Level 2)
  
Balance
as of
December 31, 2015
 
Cash and cash equivalents
 
$
2,513
  
$
-
  
$
2,513
 
Foreign equity mutual funds
  
33,342
   
-
   
33,342
 
Equity mutual funds
  
26,993
   
-
   
26,993
 
U.S. government bonds
  
-
   
3,410
   
3,410
 
Corporate bonds
  
-
   
41,271
   
41,271
 
Totals
 
$
62,848
  
$
44,681
  
$
107,529
 
 
(In thousands)
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
  
Significant
Other
Observable Inputs
(Level 2)
  
Balance
as of
December 31, 2014
 
Cash and cash equivalents
 
$
4,423
  
$
-
  
$
4,423
 
Foreign equity mutual funds
  
38,581
   
-
   
38,581
 
Equity mutual funds
  
29,718
   
-
   
29,718
 
U.S. government bonds
  
-
   
4,420
   
4,420
 
Corporate bonds
  
-
   
40,090
   
40,090
 
Totals
 
$
72,722
  
$
44,510
  
$
117,232