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Note 9 - Pensions and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

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

		Pension Plan								Postretirement Plan
		2020				2019				2020				2019
Accumulated benefit obligation at end of year		$	69,554			$	66,900			$	29,848			$	26,055
Change in projected benefit obligation:
Benefit obligation at beginning of year		$	81,325			$	67,578			$	26,055			$	23,679
Service cost			2,709				2,204				1,372				1,083
Interest cost			1,937				2,454				778				941
Settlement			1,854				-				-				-
Benefits paid			(12,872	)			(3,735	)			(1,305	)			(2,311	)
Effect of foreign exchange							-				9				16
Actual expenses			(150	)			-				-				-
Actuarial loss			11,496				12,824				2,939				2,647
Benefit obligation at end of year		$	86,299			$	81,325			$	29,848			$	26,055
Change in plan assets:
Plan assets at beginning of year		$	80,285			$	72,395			$	-			$	-
Actual return on plan assets			7,804				11,625				-				-
Employer contributions			2,000				-				1,305				2,311
Benefits paid			(12,872	)			(3,735	)			(1,305	)			(2,311	)
Actual expenses			(150	)			-				-				-
Plan assets at end of year		$	77,067			$	80,285			$	-			$	-
Funded status at end of year		$	(9,232	)		$	(1,040	)		$	(29,848	)		$	(26,055	)

		Pension Plan								Postretirement Plan
		2020				2019				2020				2019
Amounts recognized in the Consolidated Balance Sheets consist of:
Current liabilities		$	-			$	-			$	(1,598	)		$	(1,602	)
Noncurrent liabilities			(9,232	)			(1,040	)			(28,250	)			(24,453	)
Total assets (liabilities)		$	(9,232	)		$	(1,040	)		$	(29,848	)		$	(26,055	)
Amounts recognized in Accumulated other comprehensive loss consist of:
Net actuarial loss		$	28,896			$	26,192			$	7,834			$	5,205
Prior Service Cost			-				-				(3,255	)			(4,383	)
Deferred tax (benefit) expense			(7,130	)			(6,499	)			(1,012	)			(132	)
After tax actuarial loss (gain)		$	21,766			$	19,693			$	3,567			$	690

Schedule of Costs of Retirement Plans [Table Text Block]

Components of net periodic benefit cost:
		2020				2019				2018
Pension Plan
Service cost		$	2,709			$	2,204			$	2,408
Interest cost			1,937				2,454				2,552
Expected return on plan assets			(3,900	)			(3,561	)			(4,481	)
Recognized actuarial loss			2,160				1,726				1,577
Settlement loss			4,583				-				2,852
Net periodic benefit cost		$	7,489			$	2,823			$	4,908
Other changes in pension plan assets and benefit obligations recognized in other comprehensive loss:
Net loss (gain)			2,704			$	3,034			$	(1,413	)
Total expense recognized in net periodic benefit cost and other comprehensive income		$	10,193			$	5,857			$	3,495
Postretirement Plan
Service cost		$	1,372			$	1,083			$	775
Interest cost			778				941				561
Prior service cost recognition			(1,129	)			(1,129	)			(1,128	)
Recognized actuarial loss (gain)			306				27				(413	)
Net periodic benefit (credit) cost		$	1,327			$	922			$	(205	)
Other changes in postretirement plan assets and benefit obligations recognized in other comprehensive loss:
Net loss (gain)		$	3,762			$	3,749			$	9,096
Total expense (benefit) recognized in net periodic benefit cost and other comprehensive income		$	5,089			$	4,671			$	8,891

Defined Benefit Plan, Assumptions [Table Text Block]

		Pension Plan								Postretirement Plan
		2020				2019				2020				2019
Weighted-average assumptions used to determine benefit obligations at December 31:
Discount rate			1.97	%			2.83	%			2.25	%			3.08	%
Rate of compensation increase			3.50	%			3.50	%			–				–
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31:
Discount rate			2.40	%			3.94	%			3.08	%			4.13	%
Expected long-term rate of return on plan assets			5.36	%			5.37	%			–				–
Rate of compensation increase			3.50	%			3.50	%			–				–

Schedule of Allocation of Plan Assets [Table Text Block]

		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Plan Assets at December 31, 2020
Equity		$	12,619			$	-			$	20			$	12,639
Fixed income			9,582				45,463				-				55,045
Mutual funds			2,108				-				-				2,108
Money funds and cash			2,089				5,186				-				7,275
Total fair value of Plan assets		$	26,398			$	50,649			$	20			$	77,067

		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Plan Assets at December 31, 2019
Equity		$	12,986			$	-			$	-			$	12,986
Fixed income			11,671				46,145				-				57,816
Mutual funds			1,992				-				-				1,992
Money funds and cash			3,103				4,388				-				7,491
Total fair value of Plan assets		$	29,752			$	50,533			$	-			$	80,285

Schedule of Expected Benefit Payments [Table Text Block]

		2021				2022				2023				2024				2025				Thereafter
Pension		$	12,540			$	5,233			$	3,829			$	4,942			$	5,059			$	27,198
Postretirement			1,616				1,548				1,495				1,525				1,510				8,898

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