XML 52 R38.htm IDEA: XBRL DOCUMENT
v3.20.2

Note 10 - Retirement Plans (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2020
Notes Tables |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] |
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Change in Benefit Obligation |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 250,461 |  |  | $ | 236,134 |
Service cost |  |  | 9,244 |  |  |  | 8,954 |
Interest cost |  |  | 9,064 |  |  |  | 9,131 |
Liability gain due to curtailment |  |  | (1,114 | ) |  |  | - |
Actuarial loss |  |  | 20,146 |  |  |  | 4,113 |
Benefit payments and expenses |  |  | (9,574 | ) |  |  | (7,871 | )
Benefit obligation at end of year |  | $ | 278,227 |  |  | $ | 250,461 |
Change in Plan Assets |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 233,112 |  |  | $ | 212,844 |
Actual (loss) gain on plan assets |  |  | (46,325 | ) |  |  | 26,731 |
Employer contributions |  |  | 26,000 |  |  |  | 2,100 |
Benefit payments and expenses |  |  | (10,302 | ) |  |  | (8,563 | )
Fair value of plan assets at end of year |  | $ | 202,485 |  |  | $ | 233,112 |
Unfunded Status |  | $ | (75,742 | ) |  | $ | (17,349 | )
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] |
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Amounts Recognized in Accumulated Other Comprehensive Pre-Tax Loss |  |  |  |  |  |  |  |
Prior service cost |  | $ | (349 | ) |  | $ | (587 | )
Net loss |  |  | (105,866 | ) |  |  | (24,305 | )
Accumulated other comprehensive pre-tax loss |  | $ | (106,215 | ) |  | $ | (24,892 | )
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] |
|  | Pension and |
|  | post retirement plan |
|  | adjustments, net |
|  | of tax |
|  | (In thousands) |
Accumulated Other Comprehensive Loss |  |  |  |
Balance at March 31, 2019 |  | $ | (18,285 | )
Other comprehensive loss |  |  | (60,935 | )
Balance at March 31, 2020 |  | $ | (79,220 | )
Schedule of Defined Benefit Plans Disclosures [Table Text Block] |
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Service cost including administration |  | $ | 9,935 |  |  | $ | 9,646 |
Interest cost |  |  | 9,064 |  |  |  | 9,131 |
Expected return on plan assets |  |  | (16,746 | ) |  |  | (15,104 | )
Amortization of net loss |  |  | 579 |  |  |  | 1,597 |
Prior service cost |  |  | 120 |  |  |  | 119 |
Net periodic benefit cost |  | $ | 2,952 |  |  | $ | 5,389 |
Settlement/curtailment expense |  |  | 118 |  |  |  | - |
Net periodic benefit cost with curtailment |  | $ | 3,070 |  |  | $ | 5,389 |
Defined Benefit Plan, Assumptions [Table Text Block] |
|  | 2020 |  |  | 2019 |
Weighted Average Assumptions for Balance Sheet Liability at End of Year: |  |  |  |  |  |  |  |
Discount rate - projected benefit obligation |  |  | 3.69 | % |  |  | 4.14 | %
Expected return on plan assets |  |  | 7.25 | % |  |  | 7.25 | %
Rate of compensation increase |  |  | 3.00 | % |  |  | 3.00 | %
Weighted Average Assumptions for Benefit Cost at Beginning of Year: |  |  |  |  |  |  |  |
Discount rate - benefit obligations |  |  | 4.14 | % |  |  | 4.15 | %
Discount rate - interest cost |  |  | 3.74 | % |  |  | 3.87 | %
Discount rate - service cost |  |  | 4.34 | % |  |  | 4.25 | %
Discount rate - interest on service cost |  |  | 3.69 | % |  |  | 4.14 | %
Expected return on plan assets |  |  | 7.25 | % |  |  | 7.25 | %
Rate of compensation increase |  |  | 3.00 | % |  |  | 3.00 | %
Schedule of Allocation of Plan Assets [Table Text Block] |
|  | Target |  |  | Percentage of Plan
|  | Allocation |  |  | Assets at March 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Plan Assets |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  |  | 99 | % |  |  | 97 | % |  |  | 99 | %
Debt securities |  |  | - |  |  |  | - |  |  |  | - |
Real estate |  |  | - |  |  |  | - |  |  |  | - |
Cash |  |  | 1 | % |  |  | 3 | % |  |  | 1 | %
Total |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
|  | 2020 |  |  | 2019 |
|  | Market Value |  |  | Market Value |
|  | (In thousands) |
Assets by Industry Type |  |  |  |  |  |  |  |
Asset Category |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 7,058 |  |  | $ | 1,387 |
Total cash and cash equivalents |  |  | 7,058 |  |  |  | 1,387 |
Common equity securities: |  |  |  |  |  |  |  |
Materials |  |  | 8,772 |  |  |  | 5,331 |
Industrials |  |  | 15,440 |  |  |  | 16,080 |
Telecommunication services |  |  | 25,093 |  |  |  | 24,370 |
Consumer staples |  |  | 42,522 |  |  |  | 43,486 |
Energy |  |  | 28,538 |  |  |  | 38,230 |
Financials |  |  | 22,275 |  |  |  | 34,521 |
Health care |  |  | - |  |  |  | 4,247 |
Information technology |  |  | 20,657 |  |  |  | 28,750 |
Utilities |  |  | 32,130 |  |  |  | 36,710 |
Total common equity securities |  |  | 195,427 |  |  |  | 231,725 |
Total assets |  | $ | 202,485 |  |  | $ | 233,112 |
Schedule of Expected Contributions [Table Text Block] |
Expected Employer Contributions |  | $ | - |
Expected Employee Contributions |  |  | - |
Schedule of Expected Benefit Payments [Table Text Block] |
2021 |  |  | $ | 10,102 |
2022 |  |  |  | 10,785 |
2023 |  |  |  | 11,490 |
2024 |  |  |  | 12,259 |
2025 |  |  |  | 13,022 |
2026-2030 |  |  |  | 75,047 |

X
- Definition Tabular disclosure of expected contributions. + References No definition available. + Details
Name: | senea_ScheduleOfExpectedContributionsTableTextBlock
Namespace Prefix: | senea_
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 amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including 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/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (s) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
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://www.xbrl.org/2003/role/disclosureRef -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 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. + 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 (a) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
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
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration