XML 29 R34.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Employee Benefit Plans |
Schedule of funded status of retirement income plan | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2019 |  | 2018
(in thousands) | ​ |  | ​ | ​ |  | ​
Accumulated benefit obligation at end of year | ​ | $ | 48,519 | ​ | $ | 43,417
​ | ​ | ​ | ​ | ​ | ​ | ​
CHANGE IN PROJECTED BENEFIT OBLIGATION: | ​ |  |  | ​ |  |
Benefit obligation at beginning of year | ​ | $ | 43,417 | ​ | $ | 46,397
Service cost | ​ |  | — | ​ |  | —
Interest cost | ​ |  | 1,960 | ​ |  | 1,832
Amendments | ​ |  | — | ​ |  | —
Actuarial loss (gain) | ​ |  | 5,521 | ​ |  | (2,658)
Benefits paid | ​ |  | (2,379) | ​ |  | (2,154)
Projected benefit obligation at end of year | ​ | $ | 48,519 | ​ | $ | 43,417
CHANGE IN PLAN ASSETS: | ​ |  | ​ | ​ |  |
Fair value of plan assets at beginning of year | ​ | $ | 38,364 | ​ | $ | 38,050
Actual return (loss) on plan assets | ​ |  | 4,157 | ​ |  | (2,532)
Employer contribution | ​ |  | — | ​ |  | 5,000
Benefits paid | ​ |  | (2,379) | ​ |  | (2,154)
Fair value of plan assets at end of year | ​ | $ | 40,142 | ​ | $ | 38,364
Funded status at end of year | ​ | $ | (8,377) | ​ | $ | (5,053)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2019 |  | 2018
(in thousands) | ​ |  | ​ | ​ |  | ​
AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) CONSIST OF: |  | ​ |  |  | ​ |
Net loss | ​ | $ | 27,693 | ​ | $ | 24,650
Prior service cost (credit) | ​ |  | — | ​ |  | —
Net transition obligation (asset) | ​ |  | — | ​ |  | —
​ | ​ | $ | 27,693 | ​ | $ | 24,650
Schedule of amounts recognized in balance sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2019 |  | 2018
(in thousands) | ​ |  | ​ | ​ |  | ​
Funded status of the Retirement Income Plan | ​ | $ | (8,377) | ​ | $ | (5,053)
SERP liability | ​ |  | (30,877) | ​ |  | (24,585)
Long-term pension liabilities | ​ | $ | (39,254) | ​ | $ | (29,638)
Schedule of net periodic benefit cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Years ended December 31, |  | 2019 |  | 2018 |  | 2017
(in thousands) | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Service cost for benefits earned during the period | ​ | $ | — | ​ | $ | — | ​ | $ | —
Interest cost on projected benefit obligation |  | ​ | 1,960 |  | ​ | 1,832 |  | ​ | 1,932
Expected return on plan assets |  | ​ | (2,598) |  | ​ | (2,837) |  | ​ | (2,356)
Amortization of net loss |  | ​ | 919 |  | ​ | 824 |  | ​ | 851
Net periodic benefit plan cost | ​ | $ | 281 | ​ | $ | (181) | ​ | $ | 427
Schedule of amounts recognized in other comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2019 |  | 2018 |  | 2017
Net (gain) loss | ​ | $ | 3,962 | ​ | $ | 2,712 | ​ | $ | (799)
Amortization of net loss | ​ | ​ | (919) | ​ | ​ | (824) | ​ | ​ | (851)
Net transition obligation (asset) |  | ​ | — |  | ​ | — |  | ​ | —
Amount recognized in accumulated other comprehensive loss | ​ | $ | 3,043 | ​ | $ | 1,888 | ​ | $ | (1,650)
Schedule of components of net periodic benefit | ​
​ | ​ | ​ | ​
(in thousands) |  | 2020
Amortization of net loss | ​ | $ | 1,002
Prior service cost (credit) |  | ​ | —
Net transition obligation (asset) |  | ​ | —
Estimated net periodic benefit plan cost | ​ | $ | 1,002
Schedule of weighted average assumptions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2019 |  | 2018 |  | 2017 |
Projected Benefit Obligation: | ​ |  | ​ |  | ​ |  |
Discount rate | ​ | 3.60 | % | 4.65 | % | 4.00 | %
Rate of compensation increase |  | N/A |  | N/A |  | N/A | ​
Net Benefit Cost: |  |  |  |  |  |  | ​
Discount rate |  | 4.65 | % | 4.00 | % | 4.45 | %
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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Target Allocation |  | Percentage of Plan Assets |
December 31, | ​ | 2020 | ​ | 2019 | ​ | 2018 |
Asset Category | ​ |  | ​ |  | ​ |  |
Cash and cash equivalents |  | 0% - 5% | ​ | 1.3 | % | 3.0 | %
Fixed income securities |  | 15% - 100% | ​ | 91.7 | % | 29.1 | %
Domestic equity securities |  | 0% - 40% | ​ | — | % | 39.5 | %
International equity securities |  | 0% - 20% | ​ | — | % | 19.0 | %
Investments measured at net asset value |  | 0% - 12% | ​ | 7.0 | % | 9.4 | %
Total |  | ​ | ​ | 100.0 | % | 100.0 | %
Schedule of level three defined benefit plan assets | Fair Value Hierarchy as of December 31, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments (in thousands) |  | ​ |  | Total |  | Level 1 |  | Level 2
Cash and Cash Equivalents | ​ | (1) | ​ | $ | 505 | ​ | $ | 505 | ​ | $ | —
Fixed Income Securities | ​ | (2) | ​ | ​ | 36,813 | ​ | ​ | — | ​ | ​ | 36,813
Domestic Equity Securities |  | (3) |  | ​ | 3 |  | ​ | 3 | ​ |  | —
Total Assets in the Fair Value Hierarchy | ​ | ​ | ​ | $ | 37,321 | ​ | $ | 508 | ​ | $ | 36,813
Investments measured at Net Asset Value | ​ |  | ​ |  | 2,821 | ​ | ​ |  |  |  |
Investments at Fair Value | ​ | ​ | ​ | $ | 40,142 | ​ | ​ |  |  |  |
​ Fair Value Hierarchy as of December 31, 2018: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments (in thousands) |  | ​ |  | Total |  | Level 1 | ​ | Level 2
Cash and Cash Equivalents | ​ | (1) | ​ | $ | 1,140 | ​ | $ | 1,140 | ​ | $ | —
Fixed Income Securities | ​ | (2) | ​ | ​ | 11,163 | ​ | ​ | — | ​ | ​ | 11,163
Domestic Equity Securities | ​ | (3) | ​ | ​ | 15,182 | ​ | ​ | 5,602 | ​ | ​ | 9,581
International Equity Securities |  | (4) | ​ |  | 7,279 | ​ |  | — | ​ |  | 7,279
Total Assets in the Fair Value Hierarchy | ​ | ​ | ​ | $ | 34,764 | ​ | $ | 6,742 | ​ | $ | 28,023
Investments measured at Net Asset Value | ​ | ​ | ​ |  | 3,600 |  | ​ |  |  |  |
Investments at Fair Value | ​ | ​ | ​ | $ | 38,364 |  | ​ |  |  |  |
​
| (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) |  | ​ | ​
2020 | ​ | $ | 2,764
2021 |  | ​ | 2,858
2022 |  | ​ | 2,899
2023 |  | ​ | 2,919
2024 |  | ​ | 2,987
2025‑2029 | ​ | $ | 15,211
Schedule of summary of the changes in non-vested restricted shares | The following is a summary of the changes in non-vested restricted shares for the year ended December 31, 2019: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted Average Grant-
​ |  | Shares |  | Date Fair Value
Non-vested shares at January 1, 2019 | ​ | 2,352,150 | ​ | $ | 17.15
Granted |  | 858,150 |  | ​ | 11.39
Vested |  | (625,465) |  | ​ | 14.73
Forfeited |  | (191,278) |  | ​ | 15.90
Non-vested shares at December 31, 2019 |  | 2,393,557 | ​ | $ | 13.23
​ The following is a summary of the changes in non-vested restricted shares for the year ended December 31, 2018: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted Average Grant-
​ |  | Shares |  | Date Fair Value
Non-vested shares at January 1, 2018 | ​ | 2,736,365 | ​ | $ | 14.50
Granted |  | 522,800 |  | ​ | 25.13
Vested |  | (750,880) |  | ​ | 13.06
Forfeited |  | (156,135) |  | ​ | 17.10
Non-vested shares at December 31, 2018 |  | 2,352,150 | ​ | $ | 17.15

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (j) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration