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Note 7 - Pensions and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2017

Notes Tables

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

		Pension Plan								Postretirement Plan
		201 7				201 6				201 7				201 6
Accumulated benefit obligation at end of year		$	63,173			$	64,033			$	17,367			$	22,340
Change in projected benefit obligation:
Benefit obligation at beginning of year		$	77,107			$	77,600			$	22,340			$	22,430
Service cost			2,727				2,837				1,249				1,192
Interest cost			2,537				2,643				814				842
Plan Changes			-				-				(6,646	)			-
Settlement			1,398				-				-				-
Benefits paid			(12,066	)			(5,510	)			(2,278	)			(1,637	)
Effect of foreign exchange			-				-				24				7
Actuarial loss (gain)			4,786				(463	)			1,864				(494	)
Benefit obligation at end of year		$	76,489			$	77,107			$	17,367			$	22,340
Change in plan assets:
Plan assets at beginning of year		$	83,318			$	68,291			$	-			$	-
Actual return on plan assets			7,550				4,537				-				-
Emplo yer contributions			2,000				16,000				2,278				1,637
Benefits paid			(12,066	)			(5,510	)			(2,278	)			(1,637	)
Plan assets at end of year			80,802				83,318				-				-
Funded status at end of year		$	4,313			$	6,211			$	(17,367	)		$	(22,340	)

		Pension Plan								Postretirement Plan
		2017				2016				2017				2016
Amounts recognized in the Consolidated Balance Sheets consist of:
Noncurrent assets		$	4,313			$	6,211			$	-			$	-
Current liabilities			-				-				(1,630	)			(1,631	)
Noncurrent liabilities			-				-				(15,737	)			(20,709	)
Total assets (liabilities)		$	4,313			$	6,211			$	(17,367	)		$	(22,340	)
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss (gain)		$	24,571			$	27,041			$	(5,377	)		$	(7,890	)
Prior Service Cost			-				-				(6,646	)			-
Deferred tax (benefit) expense			(9,223	)			(10,506	)			3,683				2,978
After tax actuarial loss (gain)		$	15,348			$	16,535			$	(8,340	)		$	(4,912	)

Schedule of Costs of Retirement Plans [Table Text Block]

Components of net periodic benefit cost:
		2017				2016				2015
Pension Plan
Service cost		$	2,727			$	2,837			$	3,064
Interest cost			2,537				2,643				2,640
Expected return on plan assets			(4,697	)			(4,150	)			(4,060	)
Recognized actuarial loss			1,770				2,101				2,230
Settlement loss			4,031				-				3,783
Net periodic benefit cost		$	6,368			$	3,431			$	7,657
Other changes in pension plan assets and benefit obligations recognized in other comprehensive loss:
Net (gain) loss		$	(2,470	)		$	(2,952	)		$	1,156
Total expense (income) recognized in net periodic benefit cost and other comprehensive income		$	3,898			$	479			$	8,813
Postretirement Plan
Service cost		$	1,249			$	1,192			$	1,194
Interest cost			814				842				790
Recognized actuarial gain			(677	)			(699	)			(649	)
Net periodic benefit cost		$	1,386			$	1,335			$	1,335
Other changes in po stretirement plan assets and benefit obligations recognized in other comprehensive loss:
Net (gain) loss		$	(4,105	)		$	205			$	(529	)
Total (benefit) expense recognized in net periodic benefit cost and other comprehensive income		$	(2,719	)		$	1,540			$	806

Schedule of Assumptions Used [Table Text Block]

		Pension Plan								Postretirement Plan
		201 7				201 6				201 7				201 6
Weighted-average assumptions used to determine benefit obligations at December 31:
Discount rate			3.27	%			3.60	%			3.39	%			3.77	%
Rate of compensation inc rease			3.50	%			3.50	%			–				–
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31:
Discount rate			3.27	%			3.70	%			3.77	%			3.90	%
Expected long-term rate of return on plan assets			6.00	%			6.00	%			–				–
Rate of c ompensation Increase			3.50	%			3.50	%			–				–

Schedule of Allocation of Plan Assets [Table Text Block]

201 7							%
Level 1 :
Equity			$	14,637				18	%
Fixed income				12,573				16	%
Mutual funds				857				1	%
Money funds and cash				6,173				8	%
Total Level 1				34,240				43	%
Level 2 :
Fixed income				46,556				57	%
Money funds
Total Level 2				46,556				57	%
Level 3:
Equity				6				-
Total Level 3				6				-
Total fair value of Plan assets			$	80,802				100	%

2016						%
Level 1:
Equity		$	19,752				24	%
Fixed income			11,805				14	%
Mutual funds			-				-
Money f unds and cash			11,134				13	%
Total Level 1			42,691				51	%
Level 2:
Fixed income			40,597				49	%
Money fund s			-				-
Total Level 2			40,597				49	%
Level 3:
Equity			30				-
Total Level 3			30				-
Total fair value of Plan assets		$	83,318				100	%

Schedule of Expected Benefit Payments [Table Text Block]

		201 8				201 9				20 20				202 1				202 2				Thereafter
Pension		$	4,274			$	4,251			$	5,427			$	5,046			$	5,964			$	26,953
Postretirement			1,657				1,519				1,373				1,215				1,157				5,960

X

- Definition

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