XML 29 R31.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Pension Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract] |
Components of Net Periodic Pension Cost | Net periodic pension cost for the Plan consists of the following components for the year ended December 31:
|  |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Service cost |  |  |  | $ | 299 |  |  | $ | 250 |  |  | $ | 255 |
Interest cost |  |  |  |  | 1,411 |  |  |  | 1,349 |  |  |  | 1,456 |
Expected return on plan assets |  |  |  |  | (1,946 | ) |  |  | (1,985 | ) |  |  | (1,903 | )
Recognized net actuarial loss |  |  |  |  | 520 |  |  |  | 525 |  |  |  | 468 |
Net periodic pension cost |  |  |  | $ | 284 |  |  | $ | 139 |  |  | $ | 276 |
Projected Benefit Obligation and Fair Value of Plan Assets | The following tables set forth benefit obligations, plan assets and the accrued benefit cost of the Plan at December 31:
|  |  |  | 2019 |  |  | 2018 |
Projected benefit obligation at beginning of the year |  |  |  | $ | 33,931 |  |  | $ | 36,031 |
Service cost |  |  |  |  | 299 |  |  |  | 250 |
Interest cost |  |  |  |  | 1,411 |  |  |  | 1,349 |
Actuarial loss (gain) |  |  |  |  | 3,528 |  |  |  | (2,409 | )
Benefits paid |  |  |  |  | (1,233 | ) |  |  | (1,290 | )
Projected benefit obligation at end of year |  |  |  | $ | 37,936 |  |  | $ | 33,931 |
Fair value of plan assets at beginning of the year |  |  |  | $ | 28,672 |  |  | $ | 25,367 |
Actual return on plan assets |  |  |  |  | 5,219 |  |  |  | (745 | )
Employer contributions |  |  |  |  | 0 |  |  |  | 5,340 |
Benefits paid |  |  |  |  | (1,233 | ) |  |  | (1,290 | )
Fair value of plan assets at end of the year |  |  |  | $ | 32,658 |  |  | $ | 28,672 |
Unfunded pension obligation |  |  |  | $ | 5,278 |  |  | $ | 5,259 |
Amount Recognized in Accumulated Other Comprehensive Loss Related to Pension Plan | In accordance with ASC 715-20, the Company recognizes the underfunded status of the Plan as a liability. The amount recognized in Accumulated other comprehensive loss related to the Plan at December 31 is comprised of the following:
|  |  |  | 2019 |  |  | 2018 |
Balance at January 1 |  |  |  | $ | (5,873 | ) |  | $ | (6,015 | )
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |
Pre-tax amortized net actuarial loss |  |  |  |  | 520 |  |  |  | 525 |
Tax provision |  |  |  |  | (123 | ) |  |  | (139 | )
|  |  |  |  | 397 |  |  |  | 386 |
Adjustment to recognize gain (loss) on unfunded pension obligations: |  |  |  |  |  |  |  |  |  |
Pre-tax loss |  |  |  |  | (255 | ) |  |  | (321 | )
Tax provision |  |  |  |  | 60 |  |  |  | 77 |
|  |  |  |  | (195 | ) |  |  | (244 | )
Balance at December 31 |  |  |  | $ | (5,671 | ) |  | $ | (5,873 | )
Accumulated Benefit Obligations in Excess of Plan Assets | The Plan had accumulated benefit obligations in excess of Plan assets as follows:
|  |  |  | 2019 |  |  | 2018 |
Accumulated benefit obligation |  |  |  | $ | 37,936 |  |  | $ | 33,931 |
Fair market value of assets |  |  |  |  | 32,658 |  |  |  | 28,672 |
Weighted-Average Assumptions Used to Determine Benefit Obligations & Net Periodic Benefit Cost |
|  |  |  | 2019 |  |  | 2018 |
Discount rate |  |  |  | 3.50% |  |  | 4.25% |
Rate of compensation increase |  |  |  | n/a |  |  | n/a |
Weighted-average assumptions used to determine net periodic benefit cost for the year ended December 31 are as follows:
|  |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Discount rate |  |  |  | 3.50% |  |  |  | 4.25% |  |  | 4.25% |
Rate of compensation increase |  |  |  | n/a |  |  | n/a |  |  | n/a |
Expected long-term return on plan assets |  |  |  |  | 7.00 |  |  |  | 8.00 |  |  |  | 8.00 |
Fair Value of the Plan Assets | The fair value of the Plan assets as of December 31, 2019 and 2018, by category, are as follows:
|  | At December 31, 2019 |  |  |  |  |  |  |
Assets measured at net asset value |  |  |  |  |  |  |  |  |  |
Pooled investment fund |  | $ | 32,658 |  |  |  |  |  |  |
Total |  |  | 32,658 |  |  |  |  |  |  |
|  | At December 31, 2018 |
|  | Total Assets at Fair Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets measured at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 462 |  |  | $ | 462 |  |  | $ | 0 |  |  | $ | 0 |
Equity Securities |  |  | 10,470 |  |  |  | 10,470 |  |  |  | 0 |  |  |  | 0 |
U.S. Treasury Bonds |  |  | 13,109 |  |  |  | 13,109 |  |  |  | 0 |  |  |  | 0 |
Corporate Bonds |  |  | 4,631 |  |  | 0 |  |  |  | 4,631 |  |  |  | 0 |
Total |  | $ | 28,672 |  |  | $ | 24,041 |  |  | $ | 4,631 |  |  | $ | 0 |
Weighted-Average Asset Allocations of Plan Assets | The Plan weighted-average asset allocations at December 31, 2019 and 2018, by asset category, are as follows:
|  |  |  | Plan assets |  |
|  |  |  | at December 31 |  |
|  |  |  | 2019 |  |  |  | 2018 |  |
Asset category |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  |  |  |  | 48 |  | % |  |  | 37 |  | %
Debt securities |  |  |  |  | 51 |  |  |  |  | 61 |  |
Cash and equivalents |  |  |  |  | 1 |  |  |  |  | 2 |  |
|  |  |  |  | 100 |  | % |  |  | 100 |  | %
Weighted-Average Target Allocations of Plan Assets | In recognition of the expected returns and volatility from financial assets, Plan assets are invested in the following ranges with the target allocation noted:
|  | Range |  | Target |
Equities |  | 40-60% |  | 50% |
Fixed Income |  | 40-60% |  | 50% |
Cash Equivalents |  | 0-10% |  | 0.0% |
Aggregate Benefits Expected to be Paid Out of Plan Assets | The benefits expected to be paid out of the Plan assets in each of the next five years and the aggregate benefits expected to be paid for the subsequent five years are as follows:
Year |  | Pension Benefits |
2020 |  | $ | 1,225 |
2021 |  |  | 1,292 |
2022 |  |  | 1,382 |
2023 |  |  | 1,469 |
2024 |  |  | 1,566 |
2025-2029 |  |  | 9,077 |

X
- Definition Schedule of actual allocation of plan assets by asset category. + References No definition available. + Details
Name: | plpc_ScheduleOfActualAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | plpc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits and tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References No definition available. + Details
Name: | plpc_ScheduleOfChangesInProjectedBenefitObligationsAndFairValueOfAssetsTableTextBlock
Namespace Prefix: | plpc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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 benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2417-114920 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
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 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