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Pension and Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2017
Compensation And Retirement Disclosure [Abstract] |
Schedule of Changes in Projected Benefit Obligations | The following tables set forth the plans’ changes in benefit obligations, plan assets and funded status on the measurement dates, December 31, 2017, 2016 and 2015, and amounts recognized in our Consolidated Balance Sheets within other long-term liabilities as of those dates.
|  | Pension Benefits |  |  | Other Benefits |
(Table only in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 35,012 |  |  | $ | 36,140 |  |  | $ | 38,208 |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Accumulated postretirement benefit obligation |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | 131 |  |  | $ | 159 |  |  | $ | 155 |
Service cost |  |  | 415 |  |  |  | 447 |  |  |  | 233 |  |  |  | — |  |  |  | — |  |  |  | — |
Interest cost |  |  | 1,314 |  |  |  | 1,426 |  |  |  | 1,412 |  |  |  | 4 |  |  |  | 4 |  |  |  | 5 |
Amendments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |
Actuarial loss/(gain) |  |  | 1,787 |  |  |  | 301 |  |  |  | (1,744 | ) |  |  | 3 |  |  |  | (8 | ) |  |  | 18 |
Administrative expenses |  |  | (402 | ) |  |  | (606 | ) |  |  | (214 | ) |  |  | — |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (1,799 | ) |  |  | (2,696 | ) |  |  | (1,755 | ) |  |  | (26 | ) |  |  | (24 | ) |  |  | (28 | )
Projected benefit obligation at end of year |  |  | 36,327 |  |  |  | 35,012 |  |  |  | 36,140 |  |  |  | 112 |  |  |  | 131 |  |  |  | 159 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 24,063 |  |  |  | 25,296 |  |  |  | 27,302 |  |  |  | — |  |  |  | — |  |  |  | — |
Actual return (loss) on plan assets |  |  | 3,152 |  |  |  | 2,040 |  |  |  | (443 | ) |  |  | — |  |  |  | — |  |  |  | — |
Employer contribution |  |  | 1,822 |  |  |  | 29 |  |  |  | 406 |  |  |  | 26 |  |  |  | 24 |  |  |  | 28 |
Administrative expenses |  |  | (402 | ) |  |  | (606 | ) |  |  | (214 | ) |  |  | — |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (1,799 | ) |  |  | (2,696 | ) |  |  | (1,755 | ) |  |  | (26 | ) |  |  | (24 | ) |  |  | (28 | )
Fair value of plan assets at end of year |  |  | 26,836 |  |  |  | 24,063 |  |  |  | 25,296 |  |  |  | — |  |  |  | — |  |  |  | — |
Unfunded status |  | $ | (9,491 | ) |  | $ | (10,949 | ) |  | $ | (10,844 | ) |  | $ | (112 | ) |  | $ | (131 | ) |  | $ | (159 | )
Defined benefit liabilities included in accounts payable and accrued expenses |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (24 | ) |  | $ | (25 | ) |  | $ | (26 | )
Defined benefit liabilities included in other liabilities |  |  | (9,491 | ) |  |  | (10,949 | ) |  |  | (10,844 | ) |  |  | (88 | ) |  |  | (106 | ) |  |  | (133 | )
Deferred tax benefit associated with accumulated other comprehensive loss |  |  | 3,153 |  |  |  | 3,107 |  |  |  | 3,154 |  |  |  | 12 |  |  |  | 15 |  |  |  | 15 |
Accumulated other comprehensive loss, net of tax |  |  | 5,154 |  |  |  | 5,074 |  |  |  | 5,144 |  |  |  | 7 |  |  |  | 9 |  |  |  | 27 |
Net amount recognized |  | $ | (1,184 | ) |  | $ | (2,768 | ) |  | $ | (2,546 | ) |  | $ | (93 | ) |  | $ | (107 | ) |  | $ | (117 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss (gain) |  | $ | 358 |  |  | $ | 90 |  |  | $ | 708 |  |  | $ | 3 |  |  | $ | (9 | ) |  | $ | 17 |
Prior service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |
Amortization of prior service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (11 | ) |  |  | (10 | ) |  |  | (9 | )
Amortization of net actuarial (gain)/loss |  |  | (227 | ) |  |  | (212 | ) |  |  | (258 | ) |  |  | 3 |  |  |  | 1 |  |  |  | 3 |
Total recognized in other comprehensive income (loss) |  | $ | 131 |  |  | $ | (122 | ) |  | $ | 450 |  |  | $ | (5 | ) |  | $ | (18 | ) |  | $ | 20 |
Accumulated other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss (gain) |  | $ | 8,307 |  |  | $ | 8,181 |  |  | $ | 8,298 |  |  | $ | (22 | ) |  | $ | (28 | ) |  | $ | (20 | )
Prior service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 41 |  |  |  | 52 |  |  |  | 62 |
Amount recognized in accumulated other comprehensive income |  | $ | 8,307 |  |  | $ | 8,181 |  |  | $ | 8,298 |  |  | $ | 19 |  |  | $ | 24 |  |  | $ | 42 |
Weighted-average assumptions used to determine benefit obligations for the year ended December 31: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 3.35 | % |  |  | 3.85 | % |  |  | 4.00 | % |  |  | 2.65 | % |  |  | 2.75 | % |  |  | 3.00 | %
Compensation increase rate |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Weighted-average Assumptions Used to Determine Net Periodic Benefit Cost | The details of net periodic benefit cost for pension benefits included in the accompanying Consolidated Statements of Operations for the years ended December 31, 2017, 2016 and 2015 are as follows:
(Table only in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Service cost |  | $ | 415 |  |  | $ | 447 |  |  | $ | 233 |
Interest cost |  |  | 1,314 |  |  |  | 1,426 |  |  |  | 1,412 |
Expected return on plan assets |  |  | (1,723 | ) |  |  | (1,829 | ) |  |  | (2,009 | )
Net amortization and deferral |  |  | 227 |  |  |  | 212 |  |  |  | 258 |
Net periodic benefit cost (income) |  | $ | 233 |  |  | $ | 256 |  |  | $ | (106 | )
Weighted-average assumptions used to determine net periodic benefit costs for the years ended December 31: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 3.85 | % |  |  | 4.00 | % |  |  | 3.75 | %
Expected return on assets |  |  | 7.25 | % |  |  | 7.50 | % |  |  | 7.50 | %
Compensation increase rate |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Details of Defined Benefit Pension Plan Asset Allocation by Asset Category | Our defined benefit pension plan asset allocation by asset category is as follows:
|  | Target Allocation |  |  | Percentage of Plan Assets |
|  | 2017 |  |  | 2017 |  |  | 2016 |
Asset Category: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 0 | % |  |  | 4 | % |  |  | 4 | %
Equity securities |  |  | 70 | % |  |  | 70 | % |  |  | 67 | %
Debt securities |  |  | 30 | % |  |  | 26 | % |  |  | 29 | %
Total |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Disclosure of Fair Value Measurements of Pension Plan Assets | The levels assigned to the defined benefit plan assets as of December 31, 2017, are summarized in the tables below:
(Table only in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Pension assets, at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,147 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,147 |
Equity securities |  |  | 18,723 |  |  |  | — |  |  |  | — |  |  |  | 18,723 |
Debt securities |  |  | 6,967 |  |  |  | — |  |  |  | — |  |  |  | 6,967 |
Total assets |  | $ | 26,836 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,836 |
The levels assigned to the defined benefit plan assets as of December 31, 2016, are summarized in the tables below:
(Table only in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Pension assets, at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 894 |  |  | $ | — |  |  | $ | — |  |  | $ | 894 |
Equity securities |  |  | 16,153 |  |  |  | — |  |  |  | — |  |  |  | 16,153 |
Debt securities |  |  | 7,016 |  |  |  | — |  |  |  | — |  |  |  | 7,016 |
Total assets |  | $ | 24,063 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,063 |
Summary of Pension Fund General Information |
Pension Fund |  | EIN/Pension Plan Number |  | Pension Protection Act Zone Status |  | FIP/RP Status Pending/ Implemented |  | Surcharge Imposed |  | Expiration of Collective Bargaining Agreement
Sheet Metal Workers’ National Pension Fund |  | 52-6112463/001 |  | Yellow |  | FIP: Yes - Implemented RP: Yes - Implemented |  | No |  | various
Sheet Metal Workers Local 224 Pension Plan |  | 31-6171353/001 |  | Yellow |  | FIP: Yes - Implemented |  | No |  | May 31, 2018
Sheet Metal Workers Local No. 20, Indianapolis Area Pension fund |  | 51-0168516/001 |  | Green |  | Is not subject |  | No |  | May 31, 2020
Sheet Metal Workers Local No. 177 Pension Fund |  | 62-6093256/001 |  | Green |  | Is not subject |  | No |  | May 1, 2018

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + 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 (b) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination 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 (a) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the quantitative and qualitative information related to multiemployer plans in which the employer participates. A multiemployer plan is a pension or postretirement benefit plan to which two or more unrelated employers contribute where assets contributed by one participating employer may be used to provide benefits to employees of other participating employers. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 + Details
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