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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2018
Defined Benefit Plan [Abstract]  
Schedule of Obligation and Funded Status of Pension and Postretirement Plans Following are the details of the obligation and funded status of the pension and postretirement benefit plans:
(in thousands)
Pension Benefits
 
Postretirement Benefits
Change in benefit obligation
2018
 
2017
 
2018
 
2017
Benefit obligation at beginning of year
$
5,832

 
$
7,112

 
$
22,602

 
$
29,757

Service cost

 

 
319

 
391

Interest cost
130

 
155

 
752

 
985

Actuarial (gains) losses
(282
)
 
(245
)
 
(1,623
)
 
(7,903
)
Participant contributions

 

 
145

 
463

Retiree drug subsidy received

 

 
125

 
184

Benefits paid
(1,318
)
 
(1,190
)
 
(1,682
)
 
(1,275
)
Benefit obligation at end of year
$
4,362

 
$
5,832

 
$
20,638

 
$
22,602

(in thousands)
Pension Benefits
 
Postretirement Benefits
Change in plan assets
2018
 
2017
 
2018
 
2017
Fair value of plan assets at beginning of year
$

 
$

 
$

 
$

Actual gains on plan assets

 

 

 

Company contributions
1,318

 
1,190

 
1,537

 
812

Participant contributions

 

 
145

 
463

Benefits paid
(1,318
)
 
(1,190
)
 
(1,682
)
 
(1,275
)
Fair value of plan assets at end of year
$

 
$

 
$

 
$

 
 
 
 
 
 
 
 
Under funded status of plans at end of year
$
(4,362
)
 
$
(5,832
)
 
$
(20,638
)
 
$
(22,602
)
Schedule of Amounts Recognized in the Consolidated Balance Sheets Amounts recognized in the Consolidated Balance Sheets at December 31, 2018 and 2017 consist of:
 
Pension Benefits
 
Postretirement Benefits
(in thousands)
2018
 
2017
 
2018
 
2017
Accrued expenses
$
(1,516
)
 
$
(1,232
)
 
$
(1,162
)
 
$
(1,098
)
Employee benefit plan obligations
(2,846
)
 
(4,600
)
 
(19,476
)
 
(21,504
)
Net amount recognized
$
(4,362
)
 
$
(5,832
)
 
$
(20,638
)
 
$
(22,602
)
Schedule of Pre-tax Amounts Recognized in Accumulated Other Comprehensive Loss Following are the details of the pre-tax amounts recognized in accumulated other comprehensive loss at December 31, 2018:
 
Pension Benefits
 
Postretirement Benefits
(in thousands)
Unamortized Actuarial Net Losses
 
Unamortized Prior Service Costs
 
Unamortized Actuarial Net Losses
 
Unamortized Prior Service Costs
Balance at beginning of year
$
3,747

 
$

 
$
(7,506
)
 


Amounts arising during the period
(282
)
 

 
(1,623
)
 

Amounts recognized as a component of net periodic benefit cost
(243
)
 

 

 
910

Balance at end of year
$
3,222

 
$

 
$
(9,129
)
 
$
910

Schedule of Amounts Applicable to the Company's Defined Benefit Plans with Accumulated Benefit Obligations in Excess of Plan Assets Amounts applicable to the Company's defined benefit plans with accumulated benefit obligations in excess of plan assets are as follows:
 
December 31,
(in thousands)
2018
 
2017
Projected benefit obligation
$
4,362

 
$
5,832

Accumulated benefit obligation
$
4,362

 
$
5,832

Schedule of Benefits Expected to be Paid for Company's Defined Benefit Plans The combined benefits expected to be paid for all Company defined benefit plans over the next ten years (in thousands) are as follows:
Year
 
Expected Pension Benefit Payout
 
Expected Postretirement Benefit Payout
2019
 
$
1,516

 
$
1,161

2020
 
1,262

 
1,185

2021
 
1,011

 
1,203

2022
 
210

 
1,225

2023
 
220

 
1,240

2024-2028
 
418

 
6,364

Schedule of Components of Net Periodic Benefit Costs Following are components of the net periodic benefit cost for each year:
 
Pension Benefits
 
Postretirement Benefits
 
December 31,
 
December 31,
(in thousands)
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Service cost
$

 
$

 
$

 
$
319

 
$
391

 
$
760

Interest cost
130

 
155

 
194

 
752

 
985

 
1,549

Expected return on plan assets

 

 

 
(910
)
 
(455
)
 
(355
)
Recognized net actuarial loss
243

 
252

 
146

 

 

 
768

Benefit cost (income)
$
373

 
$
407

 
$
340

 
$
161

 
$
921

 
$
2,722

Schedule of Weighted Average Assumptions of Pension and Postretirement Benefits Following are weighted average assumptions of pension and postretirement benefits for each year:
 
Pension Benefits
 
Postretirement Benefits
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Used to Determine Benefit Obligations at Measurement Date
 
 
 
 
 
 
 
 
 
 
 
Discount rate (a)
N/A
 
N/A
 
N/A
 
4.1
%
 
3.4
%
 
4.0
%
Used to Determine Net Periodic Benefit Cost for Years ended December 31
 
 
 
 
 
 
 
 
 
 
 
Discount rate (b)
N/A
 
N/A
 
N/A
 
3.4
%
 
3.7
%
 
4.2
%
Expected long-term return on plan assets
N/A
 
N/A
 
N/A
 

 

 

Rate of compensation increases
N/A
 
N/A
 
N/A
 

 

 

(a)
The calculated rate for the unfunded employee retirement plan was 3.20%, 2.50% and 2.40% in 2018, 2017 and 2016, respectively. Since it was terminated in 2015, the defined benefit pension plan did not have a discount rate during the three-year period presented above.
(b)
The calculated rate for the unfunded employee retirement plan was 2.50%, 2.40% and 2.60% in 2018, 2017 and 2016, respectively. Since it was terminated in 2015, the defined benefit pension plan did not have a discount rate during the three year period presented above.
Schedule of Assumed Health Care Cost Trend Rate at Beginning of Year
Assumed Health Care Cost Trend Rates at Beginning of Year
 
 
 
 
2018
 
2017
Health care cost trend rate assumed for next year
3.0
%
 
3.0
%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) (a)
N/A

 
N/A

Year that the rate reaches the ultimate trend rate (a)
N/A

 
N/A


(a)
In 2017, the Company's remaining uncapped participants were converted to a Medicare Exchange Health Reimbursement Arrangement, which put a 2% cap on the Company's share of the related costs.