XML 51 R34.htm IDEA: XBRL DOCUMENT
v3.22.4

Pension and Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Retirement Benefits [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, |
(table only in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 35,035 |  |  | $ | 38,272 |  |  | $ | 35,985 |
Interest cost |  |  | 877 |  |  |  | 775 |  |  |  | 1,034 |
Actuarial (gain) loss |  |  | (6,540 | ) |  |  | (1,936 | ) |  |  | 3,323 |
Benefits paid |  |  | (2,022 | ) |  |  | (2,076 | ) |  |  | (2,070 | )
Projected benefit obligation at end of year |  |  | 27,350 |  |  |  | 35,035 |  |  |  | 38,272 |
Change in plan assets: |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 29,474 |  |  |  | 28,545 |  |  |  | 27,099 |
Actual return on plan assets |  |  | (5,631 | ) |  |  | 3,005 |  |  |  | 1,629 |
Employer contribution |  |  | — |  |  |  | — |  |  |  | 1,887 |
Benefits paid |  |  | (2,022 | ) |  |  | (2,076 | ) |  |  | (2,070 | )
Fair value of plan assets at end of year |  |  | 21,821 |  |  |  | 29,474 |  |  |  | 28,545 |
Funded status at end of year |  | $ | (5,529 | ) |  | $ | (5,561 | ) |  | $ | (9,727 | )
Weighted-average assumptions used to determine benefit obligations for the year ended December 31: |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.90 | % |  |  | 2.55 | % |  |  | 2.10 | %
The funded status as of December 31, 2022, 2021 and 2020, was $5.5 m illion, $5.6 million and $9.7 million, respectively and is recognized in the accompanying Consolidated Balance Sheets within other long-term liabilities.
Schedule of Net Periodic Benefit Cost For Pension Benefits Included in the Accompanying Consolidated Statements of Operations | The details of net periodic benefit cost for pension benefits included in the accompanying Consolidated Statements of Income are as follows:
|  | December 31, |
(table only in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Interest cost |  | $ | 877 |  |  | $ | 775 |  |  | $ | 1,034 |
Expected return on plan assets |  |  | (1,560 | ) |  |  | (1,510 | ) |  |  | (1,594 | )
Amortization of net loss |  |  | 263 |  |  |  | 411 |  |  |  | 266 |
Net periodic benefit income |  | $ | (420 | ) |  | $ | (324 | ) |  | $ | (294 | )
Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income | Other changes in plan assets and benefit obligations recognized in other comprehensive income:
|  | December 31, |
(table only in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Net loss (gain) |  | $ | 651 |  |  | $ | (3,432 | ) |  | $ | 3,287 |
Amortization of net actuarial loss |  |  | (263 | ) |  |  | (411 | ) |  |  | (266 | )
Total recognized in other comprehensive income (loss) |  | $ | 388 |  |  | $ | (3,843 | ) |  | $ | 3,021 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) |  | $ | (32 | ) |  | $ | (4,167 | ) |  | $ | 2,727 |
Weighted-average Assumptions Used to Determine Net Periodic Benefit Cost | Weighted-average assumptions used to determine net periodic benefit costs
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
Discount Rate |  | 2.55% |  | 2.10% |  | 2.95%
Expected return on assets |  | 5.50% |  | 5.50% |  | 6.00%
Details of Defined Benefit Pension Plan Asset Allocation by Asset Category | defined benefit pension plan asset allocation by asset category is as follows:
|  | Target Allocation |  | Percentage of Plan Assets
|  | 2022 |  | 2022 |  | 2021
Asset Category: |  |  |  |  |  |
Cash and cash equivalents |  | 0% |  | 2% |  | 1%
Equity securities |  | 70% |  | 73% |  | 77%
Debt securities |  | 30% |  | 25% |  | 22%
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, 2022, 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 |  | $ | 354 |  |  | $ | — |  |  | $ | — |  |  | $ | 354 |
Equity securities |  |  | 15,984 |  |  |  | — |  |  |  | — |  |  |  | 15,984 |
Debt securities |  |  | 5,483 |  |  |  | — |  |  |  | — |  |  |  | 5,483 |
Total assets |  | $ | 21,821 |  |  | $ | — |  |  | $ | — |  |  | $ | 21,821 |
The levels assigned to the defined benefit plan assets as of December 31, 2021, 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 |  | $ | 208 |  |  | $ | — |  |  | $ | — |  |  | $ | 208 |
Equity securities |  |  | 22,687 |  |  |  | — |  |  |  | — |  |  |  | 22,687 |
Debt securities |  |  | 6,579 |  |  |  | — |  |  |  | — |  |  |  | 6,579 |
Total assets |  | $ | 29,474 |  |  | $ | — |  |  | $ | — |  |  | $ | 29,474 |
Summary of Pension Fund General Information | The Company’s participation in these plans for the year ended December 31, 2022, is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employer Identification Number and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2022 is for the plan’s year-end at December 31, 2021. The zone status is based on information that the Company received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded, and plans in the green zone are at least 80% funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject.
Pension Fund |  | EIN/Pension Plan Number |  | Pension Protection Act Zone Status 2012 |  | FIF/RP Status Pending/Implemented |  | Surcharge Imposed |  | Expiration of Collective Bargaining Agreement
Sheet Metal Workers’ National Pension Fund |  | 52-6112463/001 |  | Green |  | FIF: Yes - Implemented RP: Yes - Implemented |  | No |  | Various
Sheet Metal Workers Local 224 Pension Plan |  | 31-6171353/001 |  | Yellow |  | FIF: Yes - Implemented |  | No |  | n/a
Sheet Metal Workers Local No. 177 Pension Fund |  | 62-6093256/001 |  | Green |  | Is not subject |  | No |  | April 30, 2023

X
- Definition Tabular disclosure showing net periodic benefit cost for pension benefits included in the accompanying consolidated statements of operations. + References No definition available. + Details
Name: | ceco_ScheduleOfNetPeriodicBenefitCostForPensionBenefitsIncludedInAccompanyingConsolidatedStatementsOfOperationsTableTextBlock
Namespace Prefix: | ceco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about multiemployer plan. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (e)(1) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=35742348&loc=SL14450788-114948 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 9 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450691-114947 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (e)(2) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 9 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450691-114947 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (f)(1) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 + Details
Name: | us-gaap_ScheduleOfMultiemployerPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration