XML 27 R51.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Retirement Benefits [Abstract] |
Schedule of Changes in Benefit Obligations, Plan Assets and Funded Status with Amounts Recognized in Consolidated Balance Sheet | The change in benefit obligations, plan assets and funded status along with amounts recognized in the Consolidated Balance Sheet are as follows:
| December 31,
| 2018 |  | 2017
Change in benefit obligation: |  |  |
Benefit Obligation, beginning of year | $ | 22,530 |  |  | $ | — |
Service Cost | 5,153 |  |  | 1,749 |
Interest Cost | 862 |  |  | 267 |
Actuarial (Gain) Loss | (3,816 | ) |  | 992 |
Benefits Paid | (218 | ) |  | (56 | )
Acquisition of Alkali Business | — |  |  | 19,578 |
Benefit Obligation, end of year | 24,511 |  |  | 22,530 |
Change in plan assets: |  |  |
Fair Value of Plan Assets, beginning of year | 13,306 |  |  | — |
Actual Return (loss) on Plan Assets | (1,300 | ) |  | 647 |
Employer Contributions | 3,928 |  |  | 2,250 |
Benefits Paid | (218 | ) |  | (56 | )
Acquisition of Alkali Business | — |  |  | 10,465 |
Fair Value of Plan assets, end of year | 15,716 |  |  | 13,306 |
Funded Status at end of period | $ | (8,795 | ) |  | $ | (9,224 | )
Amounts recognized in the Consolidated Balance Sheet: |  |  |
Non-current assets | $ | — |  |  | $ | — |
Current liabilities | — |  |  | — |
Non-current Liabilities | (8,795 | ) |  | (9,224 | )
Net Liability at end of year | $ | (8,795 | ) |  | $ | (9,224 | )
Amounts recognized in accumulated other comprehensive income (loss): |  |  |
Net actuarial (gain) loss | (939 | ) |  | 604 |
Amounts recognized in accumulated other comprehensive income ( loss:) | $ | (939 | ) |  | $ | 604 |
Schedule of Expected Employer Contributions and Future Benefits Payments | The following employer contributions and benefit payments, which reflect expected future service, are expected to be paid as follows:
Employer Contributions |
Expected 2019 Contributions by Employer | $ | 3,550 |
Future Expected Benefit Payments |
2019 | $ | 587 |
2020 | 816 |
2021 | 962 |
2022 | 1,109 |
2023 | 1,265 |
2024-2028 | 8,465 |
Schedule of Components of Net Periodic Costs | The components of net periodic pension costs for the Alkali benefit plan are as follows:
| December 31,
| 2018 |  | 2017
Service Cost | $ | 5,153 |  |  | $ | 1,749 |
Interest Cost | 862 |  |  | 267 |
Expected Return on Assets | (973 | ) |  | (259 | )
| $ | 5,042 |  |  | $ | 1,757 |
Schedule of Weighted Average Assumptions Used To Determine Benefit Obligation | The Alkali Business benefit plan is administered by a Board-appointed committee that has fiduciary responsibility for the plan's management. The committee is responsible for the oversight and management of the plan's investments. The committee maintains an investment policy that provides guidelines for selection and retention of investment managers or funds, allocation of plan assets and performance review procedures and updating of the policy. The objective of the committee's investment policy is to manage the plan assets in such a way that will allow for the on-going payment of the Company's obligation to the beneficiaries.
Weighted average assumptions used to determine benefit obligation: | December 31, 2018 |  | December 31, 2017
Discount Rate | 4.62 | % |  | 3.90 | %
Expected Long-term Rate of Return | 6.41 | % |  | 6.28 | %
Rate of Compensation Increase | N/A |  |  | N/A |
The discount rate used to determine the net periodic cost at the beginning of the period was 3.90%.
Schedule of Pension Plan Asset Allocations | Our Pension Plan asset allocations at December 31, 2018 by asset category are as follows:
December 31, 2018
| Target % | Actual %
Equity securities | 41-60% | 51 | %
Fixed income securities | 40-50% | 41 | %
Other | 0-10% | 8 | %
A summary of total investments for our pension plan assets measured at fair value is presented as of December 31 for the periods below:
| 2018 |  | 2017
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and cash equivalents | 506 |  |  | — |  |  | — |  |  | $ | 506 |  |  | 260 |  |  | — |  |  | — |  |  | $ | 260 |
Equity securities | 8,038 |  |  | — |  |  | — |  |  | $ | 8,038 |  |  | 2,518 |  |  | — |  |  | — |  |  | $ | 2,518 |
Mutual and other exchange traded funds | 7,172 |  |  | — |  |  | — |  |  | $ | 7,172 |  |  | 10,528 |  |  | — |  |  | — |  |  | $ | 10,528 |
| 15,716 |  |  | — |  |  | — |  |  | $ | 15,716 |  |  | 13,306 |  |  | — |  |  | — |  |  | $ | 13,306 |

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a)(b)(c) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration