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Retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]  
Fair Value Of Plan Assets

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using:

 

December 31, 2013

 

Quoted Prices in Active Markets for Identical Assets (Level 1)

 

Significant Other Observable Inputs        (Level 2)

 

Significant Unobservable Inputs        (Level 3)

 

(in thousands)

Assets measured on a recurring basis:

 

Common / Collective Trusts - Fixed Income

 

 

 

 

 

 

 

Market Duration Fixed (h)

$                      1,166

 

$                            -

 

$                    1,166

 

$                   -

Mutual Funds - Fixed Income

 

 

 

 

 

 

 

Intermediate Duration (k)

2,354 

 

2,354 

 

 -

 

 -

Cash Equivalents - Money market

$                      3,242

 

$                    3,242

 

$                            -

 

$                   -

Total

$                      6,762

 

$                    5,596

 

$                    1,166

 

$                   -

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using:

 

December 31, 2012

 

Quoted Prices in Active Markets for Identical Assets (Level 1)

 

Significant Other Observable Inputs        (Level 2)

 

Significant Unobservable Inputs        (Level 3)

 

(in thousands)

Assets measured on a recurring basis:

 

Mutual Funds - Equity

 

 

 

 

 

 

 

Large-Cap Value (a)

$                         664

 

$                        664

 

$                           -

 

$                   -

Small-Cap Core (b)

869 

 

869 

 

$                           -

 

$                   -

Large-Cap Growth (c)

490 

 

490 

 

$                           -

 

$                   -

International Core (d)

809 

 

809 

 

$                           -

 

$                   -

Common / Collective Trusts - Equity

 

 

 

 

 

 

 

Large-Cap Core (e)

778 

 

 -

 

778 

 

 -

Large-Cap Value (f)

389 

 

 -

 

389 

 

 -

Large-Cap Growth (g)

517 

 

 -

 

517 

 

 -

Common / Collective Trusts - Fixed Income

 

 

 

 

 

 

 

Market Duration Fixed (h)

2,514 

 

 -

 

2,514 

 

 -

Total

$                      7,030

 

$                     2,832

 

$                   4,198

 

$                   -

 

(a)

This category consists of investments whose sector and industry exposures are maintained within a narrow band around Russell 1000 index.  The portfolio holds approximately 150 stocks.

 

(b)

This category contains stocks whose sector weightings are maintained within a narrow band around those of the Russell 2000 index.  The portfolio will typically hold more than 150 stocks.

 

(c)

This category consists of a mutual fund that seeks fast growth large-cap companies with sustainable franchises and positive price momentum.  The portfolio holds 60- 90 stocks.

 

(d)

This category has investments in medium to large non-U.S. companies, including high quality, durable growth companies and companies based in countries with stable economic and political systems.

 

(e)

This fund tracks the performance of the S&P 500 Index by purchasing the securities represented in the Index in approximately the same weightings as the Index.

 

(f)

This category contains large-cap stocks with above-average yield. The portfolio typically holds between 60 and 70 stocks.

 

(g)

This category consists of a portfolio of between 35 and 55 stocks of fast-growing, predictable and cyclical large cap growth companies.

 

(h)

This category consists of an index fund that tracks the Barclays Capital U.S. Aggregate Bond Index. The fund invests in Treasury, agency, corporate, mortgage-backed and asset-backed securities.

 

Other Pension Plans, Defined Benefit [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Funded Status And Components Of Postretirement Benefit Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

Accumulated postretirement benefit obligation beginning of year

$      1,778

 

$      1,697

 

$      1,668

Service cost

 

 

Interest cost

56 

 

66 

 

80 

Actuarial (gain) loss

(455)

 

115 

 

47 

Benefits paid

(94)

 

(107)

 

(104)

Accumulated postretirement benefit obligation end of year

1,294 

 

1,778 

 

1,697 

Accrued liability (included in accrued expenses and other liabilities)

$      1,294

 

$      1,778

 

$      1,697

 

Amounts Recognized In Accumulated Other Comprehensive Income (Loss)

 

 

 

 

 

 

 

 

 

December 31,

 

2013

 

2012

Net (gain) loss

$        (116)

 

$         376

Transition obligation

33 

 

50 

Prior service cost

74 

 

90 

(Gain) Loss recognized in accumulated other comprehensive income

$            (9)

 

$         516

 

Components Of Net Periodic Postretirement Benefit Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

2013

 

2012

 

2011

Service cost

$          9

 

$          7

 

$          6

Interest cost

56 

 

66 

 

80 

Amortization of transition obligation

17 

 

17 

 

17 

Amortization of prior service costs

16 

 

15 

 

15 

Amortization of unrecognized loss

36 

 

28 

 

25 

Net postretirement benefit cost included in compensation and employee benefits

$      134

 

$      133

 

$      143

 

Defined Benefit Plan, Assumptions Used In Accounting For The Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

Assumptions used to determine benefit obligation at period end:

 

 

 

 

 

Discount rate

4.25% 

 

3.25% 

 

4.00% 

Rate of increase in compensation

4.00 

 

4.00 

 

4.00 

Assumptions used to determine net periodic benefit cost for the year:

 

 

 

 

 

Discount rate

3.25 

 

4.00 

 

5.00 

Rate of increase in compensation

4.00 

 

4.00 

 

4.00 

 

Summary Of Percentage Point Change In Assumed Heath Care Cost Trends

A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

One Percentage Point Increase

 

One Percentage Point Decrease

 

2013 

 

2012 

 

2013 

 

2012 

Effect on benefits earned and interest cost

$        5

 

$        6

 

$        (4)

 

$        (5)

Effect on accumulated postretirement benefit obligation

89 

 

136 

 

(80)

 

(122)

 

A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

One Percentage Point Increase

 

One Percentage Point Decrease

 

2013 

 

2012 

 

2011 

 

2013 

 

2012 

 

2011 

Aggregate of service and interest

 

 

 

 

 

 

 

 

 

 

 

components of net periodic cost (benefit)

$      5

 

$      6

 

$     7

 

$     (4)

 

$     (5)

 

$    (5)

 

United States Pension Plans of US Entity, Defined Benefit [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Funded Status And Components Of Postretirement Benefit Costs

 

 

 

 

 

2013

 

2012

Accumulated postretirement benefit obligation beginning of year

$      7,646

 

$              -

Service cost

 -

 

 -

Interest cost

225 

 

38 

Actuarial (gain)

(1,261)

 

 -

Benefits paid

(247)

 

(38)

Acquisition

 -

 

7,646 

Accumulated postretirement benefit obligation end of year

6,363 

 

7,646 

Plan assets at fair value

6,763 

 

7,030 

Net asset (liability)

$         400

 

$        (616)

 

Amounts Recognized In Accumulated Other Comprehensive Income (Loss)

 

 

 

 

 

December 31,

 

2013

 

2012

Net (gain) recognized in accumulated other comprehensive income

$     (1,143)

 

$        (109)

 

Components Of Net Periodic Postretirement Benefit Cost

 

 

 

 

 

December 31,

 

2013

 

2012

Service cost

$           -

 

$           -

Interest cost

225 

 

38 

Expected return on assets

(207)

 

$        (35)

Net postretirement benefit cost included in compensation and employee benefits

$        18

 

$          3

 

Defined Benefit Plan, Assumptions Used In Accounting For The Plan

 

 

 

 

 

2013

 

2012

Assumptions used to determine benefit obligation at period end:

 

 

 

Discount rate

3.75% 

 

3.00% 

Assumptions used to determine net periodic benefit cost for the year:

 

 

 

Discount rate

3.00 

 

3.00 

Long term rate of return on plan assets

3.00 

 

3.00 

Amortization period

8.09 

 

8.09