XML 40 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2013

EMPLOYEE BENEFIT PLANS

Schedule of funded status of the retirement income plan

December 31,		2013				2012
(in thousands)
ACCUMULATED BENEFIT OBLIGATION, END OF YEAR		$	4,873			$	5,695
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year		$	5,695			$	5,292
Service cost			—				—
Interest cost			235				253
Actuarial (gain) loss			(828	)			379
Benefits paid			(229	)			(229	)
Projected benefit obligation at end of year		$	4,873			$	5,695
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year		$	5,282			$	4,313
Actual return on plan assets			684				484
Employer contributions			150				714
Benefits paid			(229	)			(229	)
Fair value of plan assets at end of year		$	5,887			$	5,282
Funded status at end of year		$	1,014			$	(413	)

December 31,		2013				2012
(in thousands)
AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS CONSIST OF:
Noncurrent assets		$	1,014			$	—
Current liabilities			—				—
Noncurrent liabilities			—				(413	)
		$	1,014			$	(413	)

December 31,		2013				2012
(in thousands)
AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS CONSIST OF:
Net loss		$	1,537			$	2,748
Prior service cost (credit)			—				—
Net transition obligation (asset)			—				—
		$	1,537			$	2,748

Schedule of amounts recorded in the consolidated balance sheet

December 31,		2013				2012
(in thousands)
SERP liability		$	(6,420	)		$	(5,819	)
Funded status			—				(413	)
Pension liabilities		$	(6,420	)		$	(6,232	)

Schedule of net periodic benefit cost

Years ended December 31,		2013				2012				2011
(in thousands)
Service cost for benefits earned during the period		$	—			$	—			$	—
Interest cost on projected benefit obligation			235				253				267
Expected return on plan assets			(369	)			(328	)			(324	)
Amortization of net loss			68				61				38
		$	(66	)		$	(14	)		$	(19	)

Schedule of amounts recognized in other comprehensive loss

(in thousands)		2013				2012				2011
Net (gain) loss		$	(1,143	)		$	224			$	820
Amortization of net loss			(68	)			(61	)			(38	)
Net transition obligation (asset)			—				—				—
Amount recognized in accumulated other comprehensive income		$	(1,211	)		$	163			$	782

Schedule of components of net periodic benefit

(in thousands)		2013
Amortization of net loss		$	32
Prior service cost (credit)			—
Net transition obligation (asset)			—
Estimated net periodic cost		$	32

Schedule of weighted average assumptions

December 31,		2013				2012				2011
PROJECTED BENEFIT OBLIGATION:
Discount rate			5.35	%			4.34	%			5.09	%
Rate of compensation increase			N/A				N/A				N/A
NET BENEFIT COST:
Discount rate			4.34	%			5.09	%			5.58	%
Expected return on plan assets			7.00	%			7.00	%			7.00	%
Rate of compensation increase			N/A				N/A				N/A

Schedule of allocation of plan assets

Asset Category		Target Allocation for 2014				Percentage of Plan Assets as of December 31, 2013				Percentage of Plan Assets as of December 31, 2012
Cash and Cash Equivalents			0% - 5	%			0.6	%			0.2	%
Debt Securities – Core Fixed Income			15% - 50	%			25.3				20.2
Tactical – Fund of Equity and Debt Securities			—				—				15.1
Domestic Equity Securities			0% - 30	%			26.6				15.2
Global Equity Securities			—				—				16.0
International Equity Securities			0% - 30	%			31.4				15.1
Real Estate			0% - 20	%			8.3				9.2
Real Return			0% - 20	%			7.8				9.0
Total			100.0	%			100.00	%			100.0	%

Schedule of plan assets using the fair value hierarchy

Fair Value Hierarchy as of December 31, 2013:
Investments (in thousands)					Total				Level 1				Level 2				Level 3
Cash and Cash Equivalents			(1	)		$	38			$	38			$	—			$	—
Fixed Income Securities			(2	)			1,490				—				1,490				—
Domestic Equity Securities							1,559				1,559				—				—
Global Equity Securities			(3	)			—				—				—				—
International Equity Securities			(3	)			1,850				—				1,850				—
Real Estate			(4	)			491				—				—				491
Real Return			(5	)			459				—				459				—
Tactical Composite			(6	)			—				—				—				—
						$	5,887			$	1,597			$	3,799			$	491
Fair Value Hierarchy as of December 31, 2012:
Investments (in thousands)					Total				Level 1				Level 2				Level 3
Cash and Cash Equivalents			(1	)		$	11			$	11			$	—			$	—
Fixed Income Securities			(2	)			1,065				—				1,065				—
Domestic Equity Securities							801				801				—				—
Global Equity Securities			(3	)			796				796				—				—
International Equity Securities			(3	)			848				395				453				—
Real Estate			(4	)			489				—				—				489
Real Return			(5	)			475				—				475				—
Tactical Composite			(6	)			797				—				797				—
						$	5,282			$	2,003			$	2,790			$	489

(1) Cash and cash equivalents, which are used to pay benefits and plan administrative expenses, are held in Rule 2a-7 money market funds.

(2) Fixed income securities are primarily valued using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades.

(3) Global equity securities and certain international securities are valued using a market approach based on the quoted market prices of similar instruments in their respective markets.

(4) Real estate fund values are primarily reported by the fund manager and are based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data.

(5) Real return funds invest in global equities, commodities and inflation protected core bonds that are valued primarily using a market approach based on the quoted market prices of identical instruments in their respective markets.

(6) Tactical composite funds invest in stocks, bonds and cash, both domestic and international. These assets are valued primarily using a market approach based on the quoted market prices of identical instruments in their respective markets.

Schedule of reconciliation of level 3 assets

The following table presents a reconciliation of Level 3 assets held during the year ended December 31, 2013:

Investments	Balance at December 31, 2012				Net Realized and Unrealized  Gains/(Losses)				Net Purchases, Issuances and Settlements				Net Transfers In to (Out of) Level 3				Balance at December 31, 2013
(in thousands)
Real Estate		$	489			$	39			$	(37	)		$	—			$	491
		$	489			$	39			$	(37	)		$	—			$	491

The following table presents a reconciliation of Level 3 assets held during the year ended December 31, 2012:

Investments	Balance at December 31, 2011				Net Realized and Unrealized  Gains/(Losses)				Net Purchases, Issuances and Settlements				Net Transfers In to (Out of) Level 3				Balance at December 31, 2012
(in thousands)
Real Estate		$	238			$	65			$	186			$	—			$	489
		$	238			$	65			$	186			$	—			$	489

Schedule of future benefits payable for the retirement income plan over the next ten years

(in thousands)
2014		$	243
2015			255
2016			266
2017			246
2018			234
2019-2023			1,352

Schedule of stock option

		Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life				Aggregate Intrinsic Value
Outstanding at January 1, 2013			144,615			$	6.82			0.44 years
Granted			—				—				N/A
Exercised			—				—				N/A
Forfeited			—				—				N/A
Expired			(103,015	)			4.54				N/A
Outstanding and exercisable at December 31, 2013			41,600			$	12.47			0.33 years			$	N/A

Schedule of summary of the changes in non-vested restricted shares

		Shares				Weighted Average Grant-Date Fair Value
Non-vested shares at January 1, 2013			1,132,500			$	5.92
Granted			371,000				6.40
Vested			(229,000	)			6.20
Forfeited			(6,300	)			6.33
Non-vested shares at December 31, 2013			1,268,200			$	6.01

X

- Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (d)(5)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (i)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (k)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (f)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (h)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (j)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock units.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(2)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in stock options.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfStockOptionsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration