XML 58 R45.htm IDEA: XBRL DOCUMENT
v3.19.1

Retirement Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Defined Benefit Plan Disclosure |
Schedule of Costs of Retirement Plans | The Company sponsors six defined contribution plans for hourly and salaried employees across our domestic and international facilities. The following table summarizes the expense associated with the contributions made to these plans.
|  | Year Ended December 31, |  |  |  |
|  | 2018 |  | 2017 |  |
United States |  | $ | 2,762 |  | $ | 2,641 |  |
Canada |  | 193 |  | 223 |  |
United Kingdom |  | 451 |  | 450 |  |
|  | $ | 3,406 |  | $ | 3,314 |  |
Pension Plan | United States |
Defined Benefit Plan Disclosure |
Schedule of Changes in Accumulated Postemployment Benefit Obligations | The following tables present a reconciliation of the changes in the benefit obligation, the fair market value of the assets, and the funded status of the plan, as of December 31, 2018 and 2017:
|  | December 31, |  |
|  | 2018 |  | 2017
Changes in benefit obligation: |  |  |  |
Benefit obligation at beginning of year |  | $ | 18,783 |  | $ | 18,241
Interest cost |  | 622 |  | 684
Actuarial (gain) loss |  | (1,249) |  | 775
Benefits paid |  | (1,439) |  | (917)
Benefit obligation at end of year |  | $ | 16,717 |  | $ | 18,783
Change to plan assets: |  |  |  |
Fair value of assets at beginning of year |  | $ | 14,892 |  | $ | 14,180
Actual (loss) gain on plan assets |  | (985) |  | 1,629
Benefits paid |  | (1,439) |  | (917)
Fair value of assets at end of year |  | 12,468 |  | 14,892
Funded status at end of year |  | $ | (4,249) |  | $ | (3,891)
Amounts recognized in the consolidated balance sheet consist of: |  |  |  |
Other long-term liabilities |  | $ | (4,249) |  | $ | (3,891)
Amounts recognized in accumulated other comprehensive loss consist of: |  |  |  |
Net loss |  | $ | 4,406 |  | $ | 3,913
Schedule of Changes in Fair Value of Plan Assets | The following tables present a reconciliation of the changes in the benefit obligation, the fair market value of the assets, and the funded status of the plan, as of December 31, 2018 and 2017:
|  | December 31, |  |
|  | 2018 |  | 2017
Changes in benefit obligation: |  |  |  |
Benefit obligation at beginning of year |  | $ | 18,783 |  | $ | 18,241
Interest cost |  | 622 |  | 684
Actuarial (gain) loss |  | (1,249) |  | 775
Benefits paid |  | (1,439) |  | (917)
Benefit obligation at end of year |  | $ | 16,717 |  | $ | 18,783
Change to plan assets: |  |  |  |
Fair value of assets at beginning of year |  | $ | 14,892 |  | $ | 14,180
Actual (loss) gain on plan assets |  | (985) |  | 1,629
Benefits paid |  | (1,439) |  | (917)
Fair value of assets at end of year |  | 12,468 |  | 14,892
Funded status at end of year |  | $ | (4,249) |  | $ | (3,891)
Amounts recognized in the consolidated balance sheet consist of: |  |  |  |
Other long-term liabilities |  | $ | (4,249) |  | $ | (3,891)
Amounts recognized in accumulated other comprehensive loss consist of: |  |  |  |
Net loss |  | $ | 4,406 |  | $ | 3,913
Schedule of Net Benefit Costs | Net periodic pension costs for the years ended December 31, 2018 and 2017 are as follows:
|  | Year Ended December 31, |  |  |  |
|  | 2018 |  | 2017 |  |
Components of net periodic benefit cost: |  |  |  |  |  |
Interest cost |  | 622 |  | 684 |  |
Expected return on plan assets |  | (853) |  | (710) |  |
Recognized net actuarial loss |  | 96 |  | 130 |  |
Net periodic pension (income) cost |  | $ | (135) |  | $ | 104 |  |
Schedule of Weighted Average Assumptions Used | The weighted average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed and also the net periodic benefit cost for the following year.
|  | Year Ended December 31, |  |  |  |
|  | 2018 |  | 2017 |  |
Discount rate |  | 3.4 | % |  | 3.9 | % |  |
Expected rate of return on plan assets |  | 5.9 | % |  | 5.9 | % |  |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | Amounts applicable to the Company’s pension plan with accumulated benefit obligations in excess of plan assets were as follows as of December 31:
|  | December 31, |  |
|  | 2018 |  | 2017
Projected benefit obligation |  | $ | 16,717 |  | $ | 18,783
Accumulated benefit obligation |  | 16,717 |  | 18,783
Fair value of plan assets |  | 12,468 |  | 14,892
Schedule of Investment Allocation and Target Allocation | The investment target ranges and actual allocation of pension plan assets by major category as of December 31, 2018 and 2017 are as follows:
|  |  |  | December 31, |  |
|  | Target |  | 2018 |  | 2017
Asset Category |  |  |  |  |  |
Cash and cash equivalents |  | 0 - 10% |  |  | 3 | % |  | 2 | %
Total fixed income funds |  | 25 - 50% |  |  | 28 |  |  | 32 |
Total mutual funds and equities |  | 50 - 70% |  |  | 69 |  |  | 66 |
Total |  |  |  | 100 | % |  | 100 | %
In accordance with the fair value disclosure requirements of ASC 820, “Fair Value Measurements and Disclosures,” the following assets were measured at fair value on a recurring basis as of December 31, 2018 and 2017. Additional information regarding ASC 820 and the fair value hierarchy can be found in Note 18.
|  | December 31, |  |
|  | 2018 |  | 2017
Asset Category |  |  |  |
Cash and cash equivalents |  | $ | 355 |  | $ | 284
Fixed income funds |  |  |  |
Corporate bonds |  | 3,521 |  | 4,755
Total fixed income funds |  | 3,521 |  | 4,755
Equity funds and equities |  |  |  |
Mutual funds |  | 1,881 |  | 712
Exchange-traded funds |  | 6,711 |  | 9,141
Total mutual funds and equities |  | 8,592 |  | 9,853
Total |  | $ | 12,468 |  | $ | 14,892
Schedule of Expected Benefit Payments | The following benefit payments are expected to be paid:
|  | Pension
Year Ending December 31, |  | Benefits
2019 |  | $ | 940
2020 |  | 946
2021 |  | 1,004
2022 |  | 1,021
2023 |  | 1,080
Years 2024-2028 |  | 5,396
Pension Plan | United Kingdom |
Defined Benefit Plan Disclosure |
Schedule of Changes in Accumulated Postemployment Benefit Obligations | The funded status of the United Kingdom defined benefit plan as of December 31, 2018 and 2017 was as follows:
|  | December 31, |  |
|  | 2018 |  | 2017
Changes in benefit obligation: |  |  |  |
Benefit obligation at beginning of year |  | $ | 8,335 |  | $ | 8,104
Interest cost |  | 194 |  | 236
Actuarial gain |  | (201) |  | (451)
Benefits paid |  | (292) |  | (322)
Foreign currency exchange rate changes |  | (475) |  | 768
Benefit obligation at end of year |  | $ | 7,750 |  | $ | 8,335
Change to plan assets: |  |  |  |
Fair value of assets at beginning of year |  | $ | 6,904 |  | $ | 5,826
Actual (loss) gain on plan assets |  | (144) |  | 573
Employer contribution |  | 271 |  | 276
Benefits paid |  | (292) |  | (322)
Foreign currency exchange rate changes |  | (392) |  | 551
Fair value of assets at end of year |  | 6,347 |  | 6,904
Funded status at end of year |  | $ | (1,403) |  | $ | (1,431)
Amounts recognized in the consolidated balance sheet consist of: |  |  |  |
Other long-term liabilities |  | $ | (1,403) |  | $ | (1,431)
Amounts recognized in accumulated other comprehensive income consist of: |  |  |  |
Net loss |  | $ | 1,116 |  | $ | 1,161
Prior service cost |  | 208 |  | 39
|  | $ | 1,324 |  | $ | 1,200
Schedule of Net Benefit Costs | Net periodic pension costs for the years ended December 31 were as follows:
|  | Year Ended December 31, |  |  |  |
|  | 2018 |  | 2017 |  |
Components of net periodic benefit cost: |  |  |  |  |  |
Interest cost |  | $ | 194 |  | $ | 236 |  |
Expected return on plan assets |  | (260) |  | (280) |  |
Amortization of prior service cost |  | 42 |  | 19 |  |
Recognized net actuarial loss |  | 208 |  | 192 |  |
Net periodic pension cost |  | $ | 184 |  | $ | 167 |  |
Schedule of Weighted Average Assumptions Used | The weighted average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed and also the net periodic benefit cost for the following year.
|  | Year Ended December 31, |  |  |  |
|  | 2018 |  | 2017 |  |
Discount rate |  | 2.8 | % |  | 2.5 | % |  |
Expected rate of return on plan assets |  | 3.8 | % |  | 4.1 | % |  |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | Amounts applicable to the Company’s pension plans with accumulated benefit obligations in excess of plan assets were as follows as of December 31:
|  | December 31, |  |
|  | 2018 |  | 2017
Projected benefit obligation |  | $ | 7,750 |  | $ | 8,335
Accumulated benefit obligation |  | 7,750 |  | 8,335
Fair value of plan assets |  | 6,347 |  | 6,904
Schedule of Investment Allocation and Target Allocation | The target asset allocation percentages for 2018 were as follows:
|  | Portec Rail
|  | Plan
Equity securities |  | Up to 100%
Commercial property |  | Not to exceed 50%
U.K. Government securities |  | Not to exceed 50%
Cash |  | Up to 100%
Plan assets held within the United Kingdom defined benefit plan consist of cash and equity securities that have been classified as Level 1 of the fair value hierarchy. All other plan assets have been classified as Level 2 of the fair value hierarchy. The plan assets by category for the years ended December 31, 2018 and 2017 are as follows:
|  | December 31, |  |
|  | 2018 |  | 2017
Asset Category |  |  |  |
Cash and cash equivalents |  | $ | 685 |  | $ | 695
Equity securities |  | 2,001 |  | 2,707
Bonds |  | 2,866 |  | 2,276
Other |  | 795 |  | 1,226
Total |  | $ | 6,347 |  | $ | 6,904
Schedule of Expected Benefit Payments | The following estimated future benefits payments are expected to be paid under the United Kingdom defined benefit plan:
|  | Pension
Year Ending December 31, |  | Benefits
2019 |  | $ | 261
2020 |  | 276
2021 |  | 283
2022 |  | 301
2023 |  | 325
Years 2024-2028 |  | 2,044
Other Postretirement Benefits Plan |
Defined Benefit Plan Disclosure |
Schedule of Weighted Average Assumptions Used | The weighted average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed and also the net periodic benefit cost for the following year.
|  | Year Ended December 31, |  |
|  | 2018 |  | 2017
Discount rate |  | 3.8 | % |  | 3.6 | %
Weighted average health care trend rate |  | 4.9 | % |  | 5.1 | %

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlanDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of 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 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
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=82843861&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 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=82843861&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 change in the accumulated postemployment benefit obligation from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + 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 (a) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInAccumulatedPostemploymentBenefitObligationsTableTextBlock
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=82843861&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 the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and 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 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
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=82843861&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=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanSponsorLocationAxis=country_US
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanSponsorLocationAxis=country_GB
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |