XML 58 R40.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Other Postretirement Benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Changes in the Accumulated Postretirement Benefit Obligation | The following table presents the changes in the plan’s projected benefit obligation, fair value of plan assets, and funded status for the years ended December 31 (in thousands):
| 2017 |  | 2016
Projected benefit obligation at January 1 | $ | 1,377 |  |  | $ | 1,685 |
Interest cost | 46 |  |  | 59 |
Actuarial losses (gains) | 7 |  |  | 5 |
Benefits paid | (360 | ) |  | (372 | )
Projected benefit obligation at December 31 | 1,070 |  |  | 1,377 |
Fair value of plan assets | — |  |  | — |
Under funded status | (1,070 | ) |  | (1,377 | )
Unamortized prior service cost | 2 |  |  | 4 |
Unrecognized actuarial gain | (173 | ) |  | (200 | )
Net amount recognized | $ | (1,241 | ) |  | $ | (1,573 | )
Amounts Recognized in the Consolidated Financial Statements | Amounts recognized in the consolidated financial statements consisted of (in thousands):
| 2017 |  | 2016
Accrued postretirement benefit liability |  |  |
Current portion | $ | 314 |  |  | $ | 294 |
Long term portion | 6,706 |  |  | 6,908 |
Pre-tax accumulated other comprehensive loss – unamortized post-retirement healthcare costs | (2,809 | ) |  | (3,150 | )
Net amount recognized | $ | 4,211 |  |  | $ | 4,052 |
Schedule of Net Periodic Pension and Other Post-Retirement Benefit Costs | Components of net periodic pension cost for the years ended December 31 were as follows (in thousands):
| 2017 |  | 2016 |  | 2015
Interest cost | $ | 46 |  |  | $ | 59 |  |  | $ | 66 |
Amortization of unrecognized prior service cost | 2 |  |  | 6 |  |  | 14 |
Gain amortization | (19 | ) |  | (13 | ) |  | — |
Net periodic pension cost | $ | 29 |  |  | $ | 52 |  |  | $ | 80 |
Assumptions used to calculate the benefit obligation: |  |  |  |  |
Discount rate | 3.55 | % |  | 3.81 | % |  | 3.94 | %
Expected Benefit Payments from the Plan | Expected benefit payments from the plan for the years ended December 31 are as follows (in thousands):
|  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 - 2027
Expected benefit payments |  | $ | 327 |  |  | $ | 228 |  |  | $ | 137 |  |  | $ | 100 |  |  | $ | 100 |  |  | $ | 292 |
Other Postretirement Benefits |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Changes in the Accumulated Postretirement Benefit Obligation | The following table presents the changes in the accumulated postretirement benefit obligation related to the Company’s unfunded postretirement healthcare benefits at December 31 (in thousands):
| 2017 |  | 2016
Projected benefit obligation at January 1 | $ | 7,202 |  |  | $ | 8,149 |
Service cost | 17 |  |  | 22 |
Interest cost | 269 |  |  | 272 |
Actuarial gain | (150 | ) |  | (923 | )
Benefits paid, net of contributions | (318 | ) |  | (318 | )
Projected benefit obligation at December 31 | 7,020 |  |  | 7,202 |
Fair value of plan assets | — |  |  | — |
Under funded status | (7,020 | ) |  | (7,202 | )
Unamortized prior service cost | 427 |  |  | 471 |
Unrecognized actuarial loss | 2,382 |  |  | 2,679 |
Net amount recognized | $ | (4,211 | ) |  | $ | (4,052 | )
Schedule of Net Periodic Pension and Other Post-Retirement Benefit Costs | Components of net periodic postretirement benefit cost charged to expense for the years ended December 31 were as follows (in thousands):
| 2017 |  | 2016 |  | 2015
Service cost | $ | 17 |  |  | $ | 22 |  |  | $ | 26 |
Interest cost | 269 |  |  | 272 |  |  | 300 |
Amortization of unrecognized prior service cost | 44 |  |  | 44 |  |  | 44 |
Loss amortization (2) | 146 |  |  | 134 |  |  | 197 |
Net periodic benefit cost | $ | 476 |  |  | $ | 472 |  |  | $ | 567 |
Assumptions used to calculate the benefit obligation: |  |  |  |  |
Discount rate | 3.4 | % |  | 3.8 | % |  | 3.9 | %
Annual rate of increase in the per capita cost of: |  |  |  |  |
Medical costs before age 65 (1) | 7.3 | % |  | 7.5 | % |  | 7.8 | %
Medical costs after age 65 (1) | 6.3 | % |  | 6.5 | % |  | 6.8 | %
Prescription drug costs (1) | 10.5 | % |  | 10.5 | % |  | 11.0 | %
(1) It was assumed that these rates would gradually decline to 4% by 2075. (2) Actuarial (gains)/losses are amortized utilizing the corridor approach. Differences between actual experience and the actuarial assumptions are reflected in (gain)/loss. If the total net (gain) or loss exceeds 10 percent of the greater of the accumulated postretirement benefit obligation or plan asset, this excess must be amortized over the average remaining service period of the active plan participants. If most of the plan participants are inactive, the amortization period is the expected future lifetime of inactive plan participants.
Schedule of 1% Change in Annual Medical Inflation Rate Issued | A 1% change in the annual medical inflation rate issued would have the following impact on the amounts reported at December 31 as follows (in thousands):
| 2017 |  | 2016
Effect on accumulated postretirement benefit obligation |  |  |
1% increase | $ | 950 |  |  | $ | 975 |
1% decrease | $ | (803 | ) |  | $ | (824 | )
Effect on annual service and interest costs |  |  |
1% increase | $ | 41 |  |  | $ | 42 |
1% decrease | $ | (34 | ) |  | $ | (35 | )
Expected Benefit Payments from the Plan | Expected benefit payments from the plan for the years ended December 31 are as follows (in thousands):
|  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 - 2027
Expected benefit payments |  | $ | 314 |  |  | $ | 333 |  |  | $ | 353 |  |  | $ | 371 |  |  | $ | 389 |  |  | $ | 2,159 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs and the accumulated postretirement benefit obligation for health care benefits. + 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 (m) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock
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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=82843861&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + 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=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_DefinedBenefitPostretirementHealthCoverageMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |