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Pension and Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Compensation And Retirement Disclosure [Abstract]

Schedule of Changes in Projected Benefit Obligations

The following tables set forth the plan changes in benefit obligations, plan assets and funded status on the measurement dates, December 31, 2019, 2018 and 2017, and amounts recognized in our Consolidated Balance Sheets within other long-term liabilities.

(table only in thousands)		2019				2018				2017
Change in projected benefit obligation:
Projected benefit obligation at beginning of year		$	32,998			$	36,327			$	35,012
Service cost			—				—				415
Interest cost			1,303				1,190				1,314
Actuarial loss (gain)			3,704				(2,629	)			1,787
Administrative expenses			—				—				(402	)
Benefits paid			(2,020	)			(1,890	)			(1,799	)
Projected benefit obligation at end of year			35,985				32,998				36,327
Change in plan assets:
Fair value of plan assets at beginning of year			24,197				26,836				24,063
Actual return (loss) on plan assets			4,431				(1,388	)			3,152
Employer contribution			491				639				1,822
Administrative expenses			—				—				(402	)
Benefits paid			(2,020	)			(1,890	)			(1,799	)
Fair value of plan assets at end of year			27,099				24,197				26,836
Unfunded status		$	(8,886	)		$	(8,801	)		$	(9,491	)
Defined benefit liability included in other liabilities		$	(8,886	)		$	(8,801	)		$	(9,491	)
Deferred tax benefit associated with accumulated other comprehensive loss			2,183				2,116				3,153
Accumulated other comprehensive loss, net of tax			6,420				6,224				5,154
Other comprehensive income (loss):
Net loss		$	527			$	271			$	358
Amortization of net actuarial gain			(263	)			(238	)			(227	)
Total recognized in other comprehensive income (loss)		$	264			$	33			$	131
Amount recognized in accumulated other    comprehensive income (loss) - Prior service cost		$	8,603			$	8,340			$	8,307
Weighted-average assumptions used to determine    benefit obligations for the year ended December 31:
Discount rate			2.95	%			4.05	%			3.35	%

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, 2019, 2018 and 2017 are as follows:

(table only in thousands)		2019				2018				2017
Service cost		$	—			$	—			$	415
Interest cost			1,303				1,190				1,314
Expected return on plan assets			(1,254	)			(1,511	)			(1,723	)
Net amortization and deferral			263				238				227
Net periodic benefit cost (income)		$	312			$	(83	)		$	233
Weighted-average assumptions used to determine net    periodic benefit costs for the years ended December 31:
Discount rate			4.05	%			3.35	%			3.85	%
Expected return on assets			5.35	%			5.75	%			7.25	%

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
		2019				2019				2018
Asset Category:
Cash and cash equivalents			0	%			2	%			3	%
Equity securities			70	%			73	%			70	%
Debt securities			30	%			25	%			27	%
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, 2019, 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		$	578			$	—			$	—			$	578
Equity securities			19,702				—				—				19,702
Debt securities			6,819				—				—				6,819
Total assets		$	27,099			$	—			$	—			$	27,099

The levels assigned to the defined benefit plan assets as of December 31, 2018, 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		$	685			$	—			$	—			$	685
Equity securities			16,994				—				—				16,994
Debt securities			6,518				—				—				6,518
Total assets		$	24,197			$	—			$	—			$	24,197

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, 2022
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		April 30, 2023

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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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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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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.

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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.

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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.

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