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Pension, Postretirement and Postemployment Benefits (Tables) | 12 Months Ended
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Dec. 31, 2014
Pension, Postretirement and Postemployment Benefits |
Pool pension plan |
|  | Pension Benefits |
|  | 2014 |  | 2013 |
|  | (In thousands) |
Change in benefit obligation: |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 26,193 |  | $ | 29,205 |
Interest cost |  |  | 1,219 |  |  | 1,078 |
Actuarial loss (gain) |  |  | 5,974 |  |  | (3,360 | )
Benefit payments |  |  | (791 | ) |  | (730 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Benefit obligation at end of year(1) |  | $ | 32,595 |  | $ | 26,193 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 21,384 |  | $ | 18,780 |
Actual (loss) returns on plan assets |  |  | 1,690 |  |  | 2,736 |
Employer contributions |  |  | 1,251 |  |  | 598 |
Benefit payments |  |  | (791 | ) |  | (730 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value of plan assets at end of year |  | $ | 23,534 |  | $ | 21,384 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Funded status: |  |  |  |  |  |  |
Underfunded status at end of year |  | $ | (9,061 | ) | $ | (4,809 | )
Amounts recognized in consolidated balance sheets: |  |  |  |  |  |  |
Other long-term liabilities |  | $ | (9,061 | ) | $ | (4,809 | )
(1) | As of December 31, 2014 and 2013, the accumulated benefit obligation was the same as the projected benefit obligation.
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
Components of net periodic benefit cost (recognized in our consolidated statements of income (loss)): |  |  |  |  |  |  |  |  |  |
Interest cost |  | $ | 1,219 |  | $ | 1,078 |  | $ | 1,116 |
Expected return on plan assets |  |  | (1,401 | ) |  | (1,210 | ) |  | (1,086 | )
Recognized net actuarial loss |  |  | 485 |  |  | 1,123 |  |  | 1,034 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net periodic benefit cost |  | $ | 303 |  | $ | 991 |  | $ | 1,064 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average assumptions: |  |  |  |  |  |  |  |  |  |
Weighted-average discount rates |  |  | 4.00 | % |  | 4.75 | % |  | 3.75 | %
Expected long-term rate of return on plan assets |  |  | 6.00 | % |  | 6.50 | % |  | 6.50 | %
Investments within the fair value of Pool Pension Plan |
|  | Fair Value as of December 31, 2014 |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
|  | (In thousands) |
Assets:(1) |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | — |  | $ | 745 |  | $ | — |  | $ | 745 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale equity securities(2) |  |  | — |  |  | 13,056 |  |  | — |  |  | 13,056 |
Available-for-sale debt securities(3) |  |  | — |  |  | 9,733 |  |  | — |  |  | 9,733 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total investments |  |  | — |  |  | 22,789 |  |  | — |  |  | 22,789 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | — |  | $ | 23,534 |  | $ | — |  | $ | 23,534 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Includes investments in collective trust funds that are valued based on the fair value of the underlying investments using quoted prices in active markets or other significant inputs that are deemed observable.
(2) | Includes funds that invest primarily in U.S. common stocks and foreign equity securities.
(3) | Includes funds that invest primarily in investment grade debt.
Weighted-average asset allocations of Pool Pension Plan |
|  | Pension Benefits |
|  | 2014 |  | 2013 |
Cash |  |  | 3 | % |  | 3 | %
Equity securities |  |  | 56 | % |  | 56 | %
Debt securities |  |  | 41 | % |  | 41 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  |  | 100 | % |  | 100 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Benefits paid for five years thereafter | As of December 31, 2014, we expect that benefits to be paid in each of the next five years after 2014 and in the aggregate for the five years thereafter will be as follows:
|  | (In thousands) |
2015 |  | $ | 1,286 |
2016 |  |  | 1,369 |
2017 |  |  | 1,495 |
2018 |  |  | 1,603 |
2019 |  |  | 1,680 |
2020 - 2024 |  |  | 9,712 |
​ | ​ | ​ | ​ | ​
|  | $ | 17,145 |
​ | ​ | ​ | ​ | ​

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