XML 54 R43.htm IDEA: XBRL DOCUMENT v2.4.0.8
Employee benefit plans (Tables)
12 Months Ended
Dec. 31, 2013
Compensation And Retirement Disclosure [Abstract]  
Schedule of Change in Projected Benefit Obligation and Change in Plan Assets
     Pension Benefits     Postretirement Life
Insurance Benefits
 

December 31,

   2013     2012     2013     2012  

Change in benefit obligation:

        

Benefit obligation, beginning

   $ 15,506      $ 14,450      $ 3,193      $ 3,004   

Service cost

         35        48   

Interest cost

     646        673        111        139   

Plan curtailment

         (2,764  

Change in experience

     99        88          4   

Change in assumptions

     (1,324     978          145   

Benefits paid

     (716     (683     (575     (147
  

 

 

   

 

 

   

 

 

   

 

 

 

Benefit obligation, ending

     14,211        15,506          3,193   
  

 

 

   

 

 

   

 

 

   

 

 

 

Change in plan assets:

        

Fair value of plan assets, beginning

     11,343        11,026       

Actual return on plan assets

     1,623        637       

Employer contributions

     167        363       

Benefits paid

     (716     (683    
  

 

 

   

 

 

   

 

 

   

 

 

 

Fair value of plan assets, ending

     12,417        11,343       
  

 

 

   

 

 

   

 

 

   

 

 

 

Funded status at end of year

   $ (1,794   $ (4,163   $        $ (3,193
  

 

 

   

 

 

   

 

 

   

 

 

 
Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the balance sheet are as follows:

 

     Pension Benefits     Postretirement Life
Insurance Benefits
 

December 31,

   2013     2012     2013      2012  

Liabilities

   $ 1,794      $ 4,163      $         $ 3,193   

Amounts recognized in the accumulated other comprehensive loss consist of:

         

Net actuarial loss (gain)

     (3,883     (6,252        (1,273

Deferred taxes

     1,359        2,091           620   
  

 

 

   

 

 

   

 

 

    

 

 

 

Net amount recognized

   $ (2,524   $ (4,161   $                $ (653
  

 

 

   

 

 

   

 

 

    

 

 

 
Components of Net Periodic Pension Cost and Other Amounts Recognized in Other Comprehensive Income

Components of net periodic pension cost and other amounts recognized in other comprehensive income are as follows:

 

     Pension Benefits  

Years Ended December 31,

   2013     2012     2011  

Net periodic pension cost:

      

Service cost

      

Interest cost

   $ 646      $ 673      $ 700   

Expected return on plan assets

     (825     (809     (903

Amortization of prior service cost

      

Amortization of unrecognized net loss

     180        136        82   

Curtailment loss

      
  

 

 

   

 

 

   

 

 

 

Net periodic pension cost

   $ 1      $        $ (121
  

 

 

   

 

 

   

 

 

 

Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):

      

Net loss (gain)

     (2,369     739        1,351   

Prior service cost

      

Deferred tax

     805        (251     (459
  

 

 

   

 

 

   

 

 

 

Total recognized in other comprehensive income

     (1,564     488        892   
  

 

 

   

 

 

   

 

 

 

Total recognized in net period pension cost and other comprehensive income

   $ (1,563   $ 488      $ 771   
  

 

 

   

 

 

   

 

 

 
     Postretirement Life
Insurance Benefits
 

Years Ended December 31,

   2013     2012     2011  

Components of net periodic pension cost:

      

Service cost

   $ 35      $ 48      $ 43   

Interest cost

     111        139        147   

Amortization of prior service cost

         7   

Amortization of unrecognized net gain

     96        111        105   
  

 

 

   

 

 

   

 

 

 

Net periodic other benefit cost

   $ 242      $ 298      $ 302   
  

 

 

   

 

 

   

 

 

 

Changes in plan assets and benefit obligations recognized in other comprehensive income:

      

Net loss (gain)

     (1,273     185        148   

Prior service cost

         8   

Amortization of prior service cost

         (7

Deferred tax

     620        (63     (53
  

 

 

   

 

 

   

 

 

 

Total recognized in other comprehensive income

     (653     122        96   
  

 

 

   

 

 

   

 

 

 

Total recognized in net period pension cost and other comprehensive income

   $ (411   $ 420      $ 398   
  

 

 

   

 

 

   

 

 

 
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations

Weighted-average assumptions used to determine benefit obligations were as follows:

 

     Pension Benefits     Postretirement Life
Insurance Benefits
 

December 31,

     2013         2012         2013        2012    

Discount rate

     5.00     4.25        4.25

Expected long-term return on plan assets

     7.50     7.50     

Rate of compensation increase

            3.00
Schedule of Pension Plan Weighted-Average Asset Allocations

The Company’s pension plan weighted-average asset allocations at December 31, 2013 and 2012, by asset category are as follows:

 

December 31,

   2013     2012  

Asset Category:

    

Equity securities

     59.9     56.2

Corporate bonds

     16.8        18.9   

U.S. Government securities

     20.8        21.2   

Cash and cash equivalents

     2.5        3.7   
  

 

 

   

 

 

 
     100.0     100.0
  

 

 

   

 

 

 
Fair Value Measurement of Pension Plan Assets

Fair Value Measurement of pension plan assets at December 31, 2013 and 2012 is as follows:

 

December 31, 2013

   Total      Quoted Prices in
Active Markets
for Identical
Assets

(Level 1)
     Significant
Observable
Inputs
(Level 2)
     Significant
Observable
Inputs

(Level 3)

Cash

   $ 316       $ 316         

Equity securities:

           

U.S. large cap

     6,993         6,993         

International

     442         442         

Fixed income securities:

           

U.S. Treasuries

     995          $ 995      

U.S. Government agencies

     1,579            1,579      

Corporate bonds

     2,092            2,092      
  

 

 

    

 

 

    

 

 

    

Total

   $ 12,417       $ 7,751       $ 4,666      
  

 

 

    

 

 

    

 

 

    

 

December 31, 2012

   Total      Quoted Prices in
Active Markets
for Identical
Assets

(Level 1)
     Significant
Observable
Inputs
(Level 2)
     Significant
Observable
Inputs

(Level 3)

Cash

   $ 419       $ 419         

Equity securities:

           

U.S. large cap

     6,068         6,068         

International

     307         307         

Fixed income securities:

           

U.S. Treasuries

     1,024          $ 1,024      

U.S. Government agencies

     1,380            1,380      

Corporate bonds

     2,145            2,145      
  

 

 

    

 

 

    

 

 

    

Total

   $ 11,343       $ 6,794       $ 4,549      
  

 

 

    

 

 

    

 

 

    
Schedule of Estimated Future Benefit Payments Expected to be Paid

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the next five years and in the aggregate for the five years thereafter:

 

     Pension Benefits  

2014

   $ 729   

2015

     781   

2016

     793   

2017

     811   

2018

     863   

Thereafter

   $ 4,484