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Employee benefit plans (Tables)
12 Months Ended
Dec. 31, 2020
Employee benefit plans  
Summary of pension and postretirement life insurance plans

 

Pension Benefits 

 

December 31

2020

2019

 

Change in benefit obligation:

    

    

Benefit obligation, beginning

$

17,491

$

16,338

Interest cost

 

544

 

639

Change in experience gain

 

(291)

 

96

Change in actuarial assumptions loss

 

2,159

 

1,221

Benefits paid

 

(790)

 

(803)

Benefit obligation, ending

 

19,113

 

17,491

Change in plan assets:

Fair value of plan assets, beginning

 

16,930

 

14,919

Actual return on plan assets

 

1,488

 

2,814

Employer contributions

 

 

Benefits paid

 

(790)

 

(803)

Fair value of plan assets, ending

 

17,628

 

16,930

Funded status at end of year

$

(1,485)

$

(561)

Schedule of amounts recognized in balance sheet

 

Pension Benefits 

 

December 31

2020

2019

 

Liabilities

    

$

1,485

    

$

561

    

Amounts recognized in the accumulated other comprehensive loss consist of:

Net actuarial gain

 

(7,977)

 

(6,579)

Deferred taxes

 

1,675

 

1,382

Net amount recognized

$

(6,302)

$

(5,197)

Schedule of components of net periodic benefit cost

Pension Benefits

 

Years Ended December 31, 

2020

2019

2018

 

Net periodic pension income:

    

    

    

Interest cost

$

544

$

639

$

623

Expected return on plan assets

 

(1,236)

 

(1,084)

 

(960)

Amortization of unrecognized net loss

 

218

 

227

 

194

Net periodic pension income:

 

(474)

 

(218)

(143)

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

Net loss (gain)

 

544

 

639

 

(590)

Deferred tax

 

(114)

 

(134)

 

124

Total recognized in other comprehensive income (loss)

 

430

 

505

 

(466)

Total recognized in net period pension cost and other comprehensive income (loss)

$

(44)

$

287

$

(609)

Schedule of weighted-average assumptions used to determine benefit obligations and related expenses

 

Pension Benefits

 

December 31, 

2020

2019

2018

 

Discount rate:

    

    

    

Obligation

 

2.25

%

3.25

%  

4.00

%  

Expense

 

3.25

4.00

3.75

Expected long-term return on plan assets

 

7.50

%

7.50

%  

7.50

%  

Schedule of pension plan weighted-average asset allocations

December 31, 

    

2020

    

2019

 

Asset Category:

Cash and cash equivalents

 

6.8

%

6.2

%

Equity securities

 

63.3

61.9

Corporate bonds

 

20.7

20.6

U.S. government securities

 

9.2

11.3

 

100.0

%  

100.0

%

Schedule of fair value measurement of pension plan assets

    

    

Quoted Prices in

    

    

 

Active Markets

Significant

Significant

 

for Identical

Observable

Observable

 

Assets

Inputs

Inputs

 

December 31, 2020

Total 

(Level 1) 

(Level 2) 

(Level 3) 

 

Cash and cash equivalents

$

1,203

$

1,203

 

$

Equity securities:

U.S. large cap

 

10,266

 

10,266

International

 

888

 

888

Fixed income securities:

U.S. Treasuries

 

216

$

216

U.S. government agencies

 

1,400

 

1,400

Corporate bonds

 

3,655

 

3,655

Total

$

17,628

$

12,357

$

5,271

$

    

    

Quoted Prices in

    

    

 

Active Markets

Significant

Significant

 

for Identical

Observable

Observable

 

Assets

Inputs

Inputs

 

December 31, 2019

Total 

(Level 1) 

(Level 2) 

(Level 3) 

 

Cash and cash equivalents

$

1,053

$

1,053

$

Equity securities:

U.S. large cap

 

9,663

 

9,663

International

 

817

 

817

Fixed income securities:

U.S. Treasuries

 

202

$

202

U.S. government agencies

 

1,713

 

1,713

Corporate bonds

 

3,482

 

3,482

Total

$

16,930

$

11,533

$

5,397

$

Schedule of expected benefit payments

    

Pension Benefits

 

2021

$

840

2022

 

878

2023

 

896

2024

 

948

2025

 

970

Thereafter

5,019