XML 79 R47.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Retirement Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Retirement Benefits [Abstract] |
Information about Pension Plan | Information about the pension plan is as follows:
|  | 2021 |  |  | 2020 |
Change in benefit obligation: |  |  |  |  |  |  |  |
Beginning benefit obligation |  | $ | 16,656 |  |  | $ | 15,570 |
Service cost |  |  | — |  |  |  | — |
Interest cost |  |  | 378 |  |  |  | 484 |
Curtailment gain |  |  | — |  |  |  | — |
Settlement loss |  |  | — |  |  |  | — |
Actuarial (gain)/loss |  |  | (921 | ) |  |  | 1,898 |
Benefits paid |  |  | (711 | ) |  |  | (1,296 | )
Settlement payments |  |  | (18 | ) |  |  | — |
Ending benefit obligation |  |  | 15,384 |  |  |  | 16,656 |
Change in plan assets, at fair value: |  |  |  |  |  |  |  |
Beginning plan assets |  |  | 15,257 |  |  |  | 15,183 |
Actual return |  |  | 574 |  |  |  | 1,370 |
Employer contribution |  |  | — |  |  |  | — |
Benefits paid |  |  | (711 | ) |  |  | (1,296 | )
Settlement payments |  |  | — |  |  |  | — |
Administrative expenses |  |  | — |  |  |  | — |
Ending plan assets |  |  | 15,120 |  |  |  | 15,257 |
Funded status at end of year |  | $ | (264 | ) |  | $ | (1,399 | )
Components of Net Periodic Pension Expense | The components of net periodic pension expense were as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 378 |  |  |  | 484 |  |  |  | 479 |
Expected return on plan assets |  |  | (574 | ) |  |  | (748 | ) |  |  | (811 | )
Net amortization and deferral |  |  | 240 |  |  |  | 289 |  |  |  | 156 |
Net periodic pension cost (benefit) |  |  | 44 |  |  |  | 25 |  |  |  | (176 | )
Additional loss due to settlement |  |  | — |  |  |  | — |  |  |  | 0 |
Total pension cost (benefit) |  | $ | 44 |  |  | $ | 25 |  |  | $ | (176 | )
Net loss (gain) recognized in other comprehensive income |  | $ | (854 | ) |  | $ | 986 |  |  | $ | 2,798 |
Total recognized in net periodic benefit cost and other comprehensive loss (before tax) |  | $ | (810 | ) |  | $ | 1,011 |  |  | $ | 2,622 |
Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost | The weighted average assumptions used to determine benefit obligations at year-end were as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Discount rate on benefit obligation |  |  | 2.74 | % |  |  | 2.39 | % |  |  | 3.13 | %
Long-term rate of return on plan assets |  |  | 3.84 | % |  |  | 4.44 | % |  |  | 4.96 | %
Rate of compensation increase |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
The weighted average assumptions used to determine net periodic pension cost were as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Discount rate on benefit obligation |  |  | 2.39 | % |  |  | 3.13 | % |  |  | 4.14 | %
Long-term rate of return on plan assets |  |  | 4.44 | % |  |  | 4.96 | % |  |  | 7.00 | %
Rate of compensation increase |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
Schedule of Pension Plan Asset Allocation and Target Allocation by Asset Category | The Company’s pension plan asset allocation at year-end 2021 and 2020 and target allocation for 2022 by asset category are as follows:
|  | Target Allocation |  |  | Percentage of Plan Assets at Year-end |
Asset Category |  | 2022 |  |  | 2021 |  |  | 2020 |
Equity securities |  |  | 0-30 | % |  |  | 20.0 | % |  |  | 20.0 | %
Debt securities |  |  | 70-100 |  |  |  | 80.0 |  |  |  | 80.0 |
Total |  |  |  |  |  |  | 100.0 | % |  |  | 100.0 | %
Summary of Investments Measured at Fair Value Based on NAV Per Share | The following table summarizes investments measured at fair value based on NAV per share as of December 31, 2021 and 2020, respectively:
December 31, 2021 |  | Fair Value |  |  | Unfunded Commitments |  |  | Redemption Frequency (if currently eligible) |  |  | Redemption Notice Period |
Common/collective trust funds |  | $ | 15,120 |  |  |  | N/A |  |  |  | Daily |  |  |  | Daily |
December 31, 2020 |  | Fair Value |  |  | Unfunded Commitments |  |  | Redemption Frequency (if currently eligible) |  |  | Redemption Notice Period |
Common/collective trust funds |  | $ | 15,257 |  |  |  | N/A |  |  |  | Daily |  |  |  | Daily |
Summary of Expected Benefit Payments | Expected benefit payments, which reflect expected future service, are as follows:
2022 |  | $ | 246 |
2023 |  |  | 288 |
2024 |  |  | 327 |
2025 |  |  | 391 |
2026 |  |  | 491 |
2027 through 2031 |  |  | 3,100 |
Total |  | $ | 4,843 |

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a)(b)(c) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investments in certain entities that calculate net asset value per share or equivalent measured at fair value on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 6A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=SL6742756-110258 + Details
Name: | us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration