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Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Accumulated and Projected Benefit Obligations

The components of the underfunded status of the Benefit Plan as of the WRC Acquisition date of July 14, 2016 are as follows:

Projected benefit obligation	$	34,319
Fair value of plan assets	22,067
Underfunded status (1)	$	(12,252	)

_________________________________________________________ 

(1) The underfunded liability of $12.3 million was recognized in Other liabilities in connection with the WRC Acquisition purchase price allocation as of July 14, 2016. Please read Note 4—Acquisitions for further information.

Schedule of Assumptions Used

Weighted-average assumptions used to measure our projected benefit obligation as of July 14, 2016 and net periodic benefit costs for the year ending December 31, 2016 are as follows:

Projected benefit obligation:
Discount rate	3.80	%
Rate of compensation increase	4.03	%
Net periodic benefit costs:
Discount rate	3.80	%
Expected long-term rate of return (1)	7.00	%
Rate of compensation increase	4.03	%

_________________________________________________________

(1) The expected long-term rate of return is based on a blend of historic returns of equity and debt securities.

Schedule of Net Benefit Costs

The net periodic benefit cost for the period from July 14, 2016 to September 30, 2016 includes the following components:

Components of net periodic benefit cost:
Service cost	$	334
Interest cost	299
Expected return on plan assets	(343		)
Net periodic benefit cost	$	290

Schedule of Allocation of Plan Assets

The weighted-average asset allocation at July 14, 2016 is as follows:

	Target			Actual
Asset category:
Equity securities	60	%		52.5	%
Debt securities	30	%		39.4	%
Real estate	10	%		8.1	%
Total	100	%		100	%

Schedule of Expected Benefit Payments

Based on current data and assumptions, the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next 10 years:

Year Ended
2016		$	550
2017		1,120
2018		1,240
2019		1,190
2020		1,450
2021–2025		7,680
		$	13,230

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Tabular disclosure of benefit obligations including accumulated benefit obligation and projected benefit obligation.

+ 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 (e)
-URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920

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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.

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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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

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
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