XML 57 R41.htm IDEA: XBRL DOCUMENT v3.20.4

Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Total Expense for All Retirement Plans

Total expense for all retirement plans for the years ended December 31 was (in thousands):

						2020						2019						2018
401(k) plan						$	2,403					$	2,031					$	1,876
Multiemployer and other defined benefit and pension plans						70						195						239
Postretirement healthcare plan						351						346						427
Total retirement plan expense						$	2,824					$	2,572					$	2,542

Amounts Recognized in the Consolidated Financial Statements

Amounts recognized in the consolidated financial statements consisted of (in thousands):

			2020						2019
Accrued postretirement benefit liability
Current portion			$	335					$	330
Long term portion			6,108						5,694
Pre-tax accumulated other comprehensive loss – unamortized post-retirement healthcare costs			(2,137)						(1,666)
Net amount recognized			$	4,306					$	4,358

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):

			2020						2019
Projected benefit obligation at January 1			$	6,024					$	6,135
Service cost			10						17
Interest cost			172						234
Actuarial gain			580						(52)
Benefits paid, net of contributions			(343)						(310)
Projected benefit obligation at December 31			6,443						6,024
Fair value of plan assets			—						—
Under funded status			(6,443)						(6,024)
Unamortized prior service cost			294						338
Unrecognized actuarial loss			1,843						1,328
Net amount recognized			$	(4,306)					$	(4,358)

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):

			2020						2019						2018
Service cost			$	10					$	17					$	18
Interest cost			172						234						233
Amortization of unrecognized prior service cost			44						44						44
Loss amortization (2)			64						51						132
Net periodic benefit cost			$	290					$	346					$	427
Assumptions used to calculate the benefit obligation:
Discount rate			2.0		%				2.9		%				4.1		%
Annual rate of increase in the per capita cost of:
Medical costs before age 65 (1)			7.0		%				6.8		%				7.0		%
Medical costs after age 65 (1)			4.5		%				4.5		%				5.0		%
Prescription drug costs (1)			7.0		%				7.0		%				9.5		%

(1)    It was assumed that these rates would gradually decline to 3.8% 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 assets, 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.

Expected Benefit Payments from the Plan

Expected benefit payments from the plan for the years ended December 31 are as follows (in thousands):

						2021						2022						2023						2024						2025						Years 2026 - 2030
Expected benefit payments						$	335					$	349					$	358					$	366					$	376					$	1,910

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=118255775&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 costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost.

+ 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
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
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=118255775&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=118255775&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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=118255775&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: