XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Employee Benefits | 9 Months Ended
--- | ---
Sep. 30, 2017
Retirement Benefits [Abstract] |
EMPLOYEE BENEFITS | Effective March 31, 2016, our qualified and nonqualified defined benefit plans were amended to freeze benefit accruals for all persons entitled to benefits under the plan. We recorded a curtailment gain for the three months ended March 31, 2016 resulting from the amendment. The curtailment gain was $1.0 million and represented the unrecognized benefits associated with prior plan amendments that would have been amortized into income over the next seven years. The qualified plan was previously closed to new participants effective December 31, 2007. We will continue recording pension expense related to this plan, primarily representing interest costs on the accumulated benefit obligation and amortization of actuarial losses accumulated in the plan, as well as income from expected investment returns on pension assets. Prior to March 31, 2016, the accrued benefits were based on years of service and the employee’s compensation for the highest five consecutive years in the last ten years. Contributions were intended to provide for benefits attributed to employee service to date and for those benefits expected to be earned in the future. The expected long-term rate of return on plan assets is 7.50 percent. The following table summarizes the components of net periodic pension cost for the periods presented:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(dollars in thousands) | 2017 |  | 2016 |  | 2017 |  | 2016
Components of Net Periodic Pension Cost |  |  |  |  |  |  |
Service cost—benefits earned during the period | $ | — |  |  | $ | (6 | ) |  | $ | — |  |  | $ | 469 |
Interest cost on projected benefit obligation | 1,025 |  |  | 1,099 |  |  | 3,075 |  |  | 3,200 |
Expected return on plan assets | (1,582 | ) |  | (1,444 | ) |  | (4,746 | ) |  | (4,337 | )
Amortization of prior service credit | 475 |  |  | 29 |  |  | 1,424 |  |  | (41 | )
Recognized net actuarial loss | — |  |  | 638 |  |  | — |  |  | 1,708 |
Net Periodic Pension Expense | $ | (82 | ) |  | $ | 316 |  |  | $ | (247 | ) |  | $ | 999 |

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 The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration