XML 24 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
Retirement Agreements And Other Postretirement Benefits
 9 Months Ended
Sep. 30, 2017
Retirement Benefits [Abstract]  
Retirement Agreements And Other Postretirement Benefits
Retirement Agreements and Other Postretirement Benefits

The Company’s subsidiary, Investors Title Insurance Company ("ITIC"), is a party to employment agreements with key executives that provide for the continuation of certain employee benefits and other payments due under the agreements upon retirement, estimated to total $9,538,000 and $8,487,000 as of September 30, 2017 and December 31, 2016, respectively. The executive employee benefits include health insurance, dental, vision and life insurance and are unfunded. These amounts are classified as accounts payable and accrued liabilities in the Consolidated Balance Sheets. The following sets forth the net periodic benefits cost for the executive benefits for the periods ended September 30, 2017 and 2016:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Service cost – benefits earned during the year
$
—

 
$
2,545

 
$
—

 
$
7,635

Interest cost on the projected benefit obligation
9,217

 
8,781

 
27,651

 
26,343

Amortization of unrecognized losses
2,153

 
2,235

 
6,459

 
6,705

Net periodic benefits costs
$
11,370

 
$
13,561

 
$
34,110

 
$
40,683