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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of reconciliation of the projected benefit obligation, plan assets and funded status of the pension plan

The following table provides a reconciliation of the projected benefit obligation, plan assets and funded status of the pension plan at December 31:

	2015				2014
Accumulated Benefit Obligation	$	78,437			$	91,107
Change in benefit obligation
Projected benefit obligation at beginning of year	$	91,107			$	75,946
Service cost	240				271
Interest cost	3,394				3,465
Actuarial (gain) loss	(11,806		)		16,546
Benefits paid	(1,620		)		(1,414		)
Settlement	(2,878		)		(3,707		)
Projected benefit obligation at end of year	$	78,437			$	91,107
Change in plan assets
Fair value of plan assets at beginning of year	$	73,431			$	76,442
Actual gain on plan assets	(1,765		)		2,110
Benefits paid	(1,620		)		(1,414		)
Settlement	(2,878		)		(3,707		)
Fair value of plan assets at end of year	$	67,168			$	73,431
Funded status	$	(11,269	)		$	(17,676	)

Schedule of amounts recognized in the consolidated balance sheets

Amounts recognized in the consolidated balance sheets consist of the following at December 31,:

	2015				2014
Other long-term liabilities	$	(11,269	)		$	(17,676	)
Accumulated other comprehensive loss	(41,205		)		(48,782		)

Schedule of actuarial assumptions used

The following actuarial assumptions were used to determine our net periodic pension benefit cost for the years ended December 31,:

	2015			2014			2013
Discount rate	3.81	%		4.75	%		3.90	%
Expected return on plan assets	8.00	%		8.00	%		8.00	%

The following actuarial assumptions were used to determine our accumulated and projected benefit obligations as of December 31,:

	2015			2014
Discount rate	4.54	%		3.81	%
Expected return on plan assets	8.00	%		8.00	%

Schedule of plan assets and benefit obligations recognized in other comprehensive income

Other changes in plan assets and benefit obligations recognized in other comprehensive income in 2015 are as follows:

Current year actuarial gain	$	4,344
Amortization of actuarial loss	3,233
Total recognized in other comprehensive loss	$	7,577

Schedule of net benefit cost

Net periodic pension cost for the years ended December 31, consists of the following:

	2015				2014				2013
Service cost	$	240			$	271			$	253
Interest cost on projected benefit obligation	3,394				3,465				3,315
Expected return on plan assets	(5,697		)		(2,297		)		(5,491		)
Amortization of loss	3,233				(2,048		)		3,059
Settlement expense	—				—				1,443
Net periodic pension (income) cost	$	1,170			$	(609	)		$	2,579

Schedule of allocation of plan assets

The following table sets forth by level, within the fair value hierarchy, the pension plan's assets at fair value as of December 31, 2015 and December 31, 2014:

December 31, 2015	Level 1				Level 2				Total
Common Stock	$	34,466			$	—			$	34,466
Money Market Fund	—				1,302				1,302
Mutual Funds	23,576				—				23,576
Fixed Income Securities	7,824				—				7,824
	$	65,866			$	1,302			$	67,168

December 31, 2014	Level 1				Level 2				Total
Common Stock	$	35,337			$	—			$	35,337
Money Market Fund	—				3,320				3,320
Mutual Funds	26,671				—				26,671
Fixed Income Securities	8,103				—				8,103
	$	70,111			$	3,320			$	73,431

The following table sets forth the fair value of pension plan assets as of December 31:

	2015				2014
Common Stock	$	34,466			$	35,337
Money Market Fund	1,302				3,320
Mutual Funds	23,576				26,671
Fixed Income Securities	7,824				8,103
Total Assets at Fair Value	$	67,168			$	73,431

The allocation of pension plan assets by category is as follows at December 31,:

	Percentage of Pension Plan Assets						Target Allocation
	2015			2014			2016
Equity securities	86	%		84	%		75	%
Debt securities	14			16			25
Total	100	%		100	%		100	%

Schedule of expected benefit payments

The following table summarizes the benefits expected to be paid by our pension plan in each of the next five years and in aggregate for the following five years. The expected benefit payments are estimated based on the same assumptions used to measure the Company’s projected benefit obligation at December 31, 2015 and reflect the impact of expected future employee service.

2016		$4,164
2017	4,210
2018	4,304
2019	4,741
2020	4,982
2021-2025	24,828

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(5)
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Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
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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
-SubTopic 20
-Section 50
-Paragraph 1
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Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

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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.

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

+ References

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-Publisher FASB
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-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
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Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

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