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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2016
Employee Benefit Plans |
Schedule of funded status of the retirement income plan |
December 31, |  | 2016 |  |  | 2015 |
(in thousands) |  |  |  |  |  |  |  |
Accumulated benefit obligation at end of year |  | $ | 44,315 |  |  | $ | 42,894 |
CHANGE IN PROJECTED BENEFIT OBLIGATION: |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 42,894 |  |  | $ | 47,410 |
Service cost |  |  | — |  |  |  | — |
Interest cost |  |  | 2,006 |  |  |  | 1,898 |
Amendments |  |  | — |  |  |  | — |
Actuarial loss (gain) |  |  | 1,371 |  |  |  | (4,593 | )
Benefits paid |  |  | (1,956 | ) |  |  | (1,821 | )
Projected benefit obligation at end of year |  | $ | 44,315 |  |  | $ | 42,894 |
CHANGE IN PLAN ASSETS: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 30,937 |  |  | $ | 32,622 |
Actual return on plan assets |  |  | 1,464 |  |  |  | (714 | )
Employer contribution |  |  | 4,300 |  |  |  | 850 |
Benefits paid |  |  | (1,956 | ) |  |  | (1,821 | )
Fair value of plan assets at end of year |  | $ | 34,745 |  |  | $ | 30,937 |
Funded status at end of year |  | $ | (9,570 | ) |  | $ | (11,957 | )
December 31, |  | 2016 |  |  | 2015 |
(in thousands) |  |  |  |  |  |  |  |
AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) CONSIST OF: |  |  |  |  |  |  |  |
Net loss (gain) |  | $ | 24,412 |  |  | $ | 23,172 |
Prior service cost (credit) |  |  | — |  |  |  | — |
Net transition obligation (asset) |  |  | — |  |  |  | — |
|  | $ | 24,412 |  |  | $ | 23,172 |
Schedule of amounts recognized in balance sheet |
December 31, |  | 2016 |  |  | 2015 |
(in thousands) |  |  |  |  |  |  |  |
Funded status of the Retirement Income Plan |  | $ | (9,570 | ) |  | $ | (11,957 | )
SERP liability |  |  | (23,294 | ) |  |  | (21,052 | )
Long-term pension liabilities |  | $ | (32,864 | ) |  | $ | (33,009 | )
Schedule of net periodic benefit cost |
Years ended December 31, |  | 2016 |  |  | 2015 |  |  | 2014 |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Service cost for benefits earned during the period |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost on projected benefit obligation |  |  | 2,006 |  |  |  | 1,898 |  |  |  | 1,946 |
Expected return on plan assets |  |  | (2,131 | ) |  |  | (2,259 | ) |  |  | (2,240 | )
Amortization of net loss |  |  | 799 |  |  |  | 790 |  |  |  | 531 |
Net periodic benefit plan cost |  | $ | 674 |  |  | $ | 429 |  |  | $ | 237 |
Schedule of amounts recognized in other comprehensive loss |
(in thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Net loss (gain) |  | $ | 2,039 |  |  | $ | (1,621 | ) |  | $ | 10,745 |
Amortization of net loss |  |  | (799 | ) |  |  | (790 | ) |  |  | (531 | )
Net transition obligation (asset) |  |  | — |  |  |  | — |  |  |  | — |
Amount recognized in accumulated other comprehensive loss |  | $ | 1,240 |  |  | $ | (2,411 | ) |  | $ | 10,214 |
Schedule of components of net periodic benefit |
(in thousands) |  | 2017 |
Amortization of net loss |  | $ | 825 |
Prior service cost (credit) |  |  | — |
Net transition obligation (asset) |  |  | — |
Estimated net periodic benefit plan cost |  | $ | 825 |
Schedule of weighted average assumptions |
December 31, |  | 2016 |  |  | 2015 |  |  | 2014 |
Projected Benefit Obligation: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.45 | % |  |  | 4.70 | % |  |  | 4.15 | %
Rate of compensation increase |  |  | N/A |  |  |  | N/A |  |  |  | N/A |
Net Benefit Cost: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.70 | % |  |  | 4.15 | % |  |  | 5.20 | %
Expected return on plan assets |  |  | 7.00 | % |  |  | 7.00 | % |  |  | 7.00 | %
Rate of compensation increase |  |  | N/A |  |  |  | N/A |  |  |  | N/A |
Schedule of allocation of plan assets |
Asset Category |  | Target Allocation for 2017 |  |  | Percentage of Plan Assets as of December 31, 2016 |  |  | Percentage of Plan Assets as of December 31, 2015 |
Cash and cash equivalents |  |  | 0% - 5 % |  |  |  | 3.3 | % |  |  | 0.7 | %
Fixed income securities |  |  | 15% - 50 % |  |  |  | 25.3 | % |  |  | 25.8 | %
Domestic equity securities |  |  | 0% - 40 % |  |  |  | 25.5 | % |  |  | 27.6 | %
International equity securities |  |  | 0% - 40 % |  |  |  | 20.8 | % |  |  | 19.1 | %
Investments measured at net asset value |  |  | 0% - 20 % |  |  |  | 25.1 | % |  |  | 26.8 | %
Total |  |  |  |  |  |  | 100.0 | % |  |  | 100.0 | %
Schedule of level three defined benefit plan assets |
Fair Value Hierarchy as of December 31, 2016: |  |  |  |  |  |  |  |  |  |  |  |
Investments (in thousands) |  |  |  |  | Total |  |  | Level 1 |  |  | Level 2 |
Cash and Cash Equivalents |  |  | (1 | ) |  | $ | 1,154 |  |  | $ | 1,154 |  |  | $ | — |
Fixed Income Securities |  |  | (2 | ) |  |  | 8,804 |  |  |  | — |  |  |  | 8,804 |
Domestic Equity Securities |  |  | (3 | ) |  |  | 8,865 |  |  |  | 4,469 |  |  |  | 4,396 |
International Equity Securities |  |  | (4 | ) |  |  | 7,215 |  |  |  | — |  |  |  | 7,215 |
Total Assets in the Fair Value Hierarchy |  |  |  |  |  | $ | 26,038 |  |  | $ | 5,623 |  |  | $ | 20,415 |
Investments measured at Net Asset Value |  |  |  |  |  |  | 8,707 |  |  |  |  |  |  |  |  |
Investments at Fair Value |  |  |  |  |  | $ | 34,745 |  |  |  |  |  |  |  |  |
Fair Value Hierarchy as of December 31, 2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments (in thousands) |  |  |  |  |  |  | Total |  |  |  | Level 1 |  |  |  | Level 2 |
Cash and Cash Equivalents |  |  | (1 | ) |  | $ | 210 |  |  | $ | 210 |  |  | $ | — |
Fixed Income Securities |  |  | (2 | ) |  |  | 7,987 |  |  |  | — |  |  |  | 7,987 |
Domestic Equity Securities |  |  | (3 | ) |  |  | 8,527 |  |  |  | 4,285 |  |  |  | 4,242 |
International Equity Securities |  |  | (4 | ) |  |  | 5,911 |  |  |  | — |  |  |  | 5,911 |
Total Assets in the Fair Value Hierarchy |  |  |  |  |  | $ | 22,635 |  |  | $ | 4,495 |  |  | $ | 18,140 |
Investments measured at Net Asset Value |  |  |  |  |  |  | 8,302 |  |  |  |  |  |  |  |  |
Investments at Fair Value |  |  |  |  |  | $ | 30,937 |  |  |  |  |  |  |  |  |
| (1) | Cash and cash equivalents, which are used to pay benefits and plan administrative expenses, are held in Rule 2a-7 money market funds.
| (2) | Fixed income securities are primarily valued using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades.
| (3) | Domestic equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets.
| (4) | International equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets.
Schedule of future benefits payable for the retirement income plan over the next ten years |
(in thousands) |  |  |
2017 |  | $ | 2,432 |
2018 |  |  | 2,530 |
2019 |  |  | 2,589 |
2020 |  |  | 2,626 |
2021 |  |  | 2,710 |
2022-2026 |  |  | 14,194 |
Schedule of summary of the changes in non-vested restricted shares |
|  | Shares |  |  | Weighted Average Grant- Date Fair Value |
Non-vested shares at January 1, 2016 |  |  | 3,312,175 |  |  | $ | 13.17 |
Granted |  |  | 920,100 |  |  |  | 10.77 |
Vested |  |  | (891,245 | ) |  |  | 11.58 |
Forfeited |  |  | (123,955 | ) |  |  | 13.41 |
Non-vested shares at December 31, 2016 |  |  | 3,217,075 |  |  | $ | 12.91 |
|  | Shares |  |  | Weighted Average Grant- Date Fair Value |
Non-vested shares at January 1, 2015 |  |  | 3,575,150 |  |  | $ | 12.04 |
Granted |  |  | 895,725 |  |  |  | 12.30 |
Vested |  |  | (1,054,625 | ) |  |  | 8.66 |
Forfeited |  |  | (104,075 | ) |  |  | 12.78 |
Non-vested shares at December 31, 2015 |  |  | 3,312,175 |  |  | $ | 13.17 |

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