Retirement Plans And Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2017

Reconciliation Of Changes In Benefit Obligations And Plan Assets

The following tables reconcile the changes in benefit obligations and plan assets in 2017 and 2016, and reconcile the funded status to prepaid or accrued cost at December 31, 2017 and 2016:



	Pension Benefits						Other Post- Retirement Benefits
(In thousands)	2017			2016			2017			2016
Change in benefit obligation:
Benefit obligation, beginning of year	$	303,126		$	303,852		$	7,436		$	7,745
Service cost	194			231			33			38
Interest cost	12,575			13,323			301			337
Effect of actuarial (gains) losses related to the following:
Discount rate change	21,055			9,296			471			210
Retirement rate assumptions and mortality table adjustments	(2,145		)	(5,537		)	15			(433		)
Other	(1,921		)	(3,025		)	(245		)	(131		)
Plan participant contributions	—			—			646			634
Benefits paid	(14,761		)	(15,014		)	(953		)	(964		)
Benefit obligation, end of year	$	318,123		$	303,126		$	7,704		$	7,436
Change in plan assets:
Plan assets at fair value, beginning of year	$	214,559		$	210,642		$	—		$	—
Actual return on plan assets	21,034			11,199			—			—
Employer contributions	5,522			7,732			307			330
Plan participant contributions	—			—			646			634
Benefits paid	(14,761		)	(15,014		)	(953		)	(964		)
Plan assets at fair value, end of year	$	226,354		$	214,559		$	—		$	—
Funded status of the plans	$	(91,769	)	$	(88,567	)	$	(7,704	)	$	(7,436	)
Amounts recognized in the consolidated balance sheets:
Accrued expenses (current)	$	182		$	182		$	457		$	453
Pension and other postretirement benefit obligations, net	91,587			88,385			7,247			6,983
Net amount recognized	$	91,769		$	88,567		$	7,704		$	7,436

Components Of Net Periodic Benefit Income Or Cost For Continuing Operations

Assumptions used for financial reporting purposes to compute net benefit income or cost and benefit obligations for continuing operations, and the components of net periodic benefit income or cost for continuing operations, are as follows:



	Pension Benefits									Other Post- Retirement Benefits
(In thousands, except percentages)	2017			2016			2015			2017			2016			2015
Weighted-average assumptions used to determine benefit obligations:
Discount rate	3.72		%	4.29		%	4.55		%	3.69		%	4.24		%	4.49		%
Expected long-term return on plan assets	6.50		%	6.50		%	7.00		%	n/a			n/a			n/a
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate	4.29		%	4.55		%	4.17		%	4.24		%	4.49		%	4.11		%
Expected long-term return on plan assets	6.50		%	7.00		%	7.50		%	n/a			n/a			n/a
Components of net periodic benefit cost:
Service cost	$	194		$	231		$	530		$	33		$	38		$	44
Interest cost	12,575			13,323			13,217			301			337			325
Expected return on plan assets	(14,955		)	(15,980		)	(17,636		)	—			—			—
Amortization of prior service costs and gains or losses	12,320			13,312			16,190			(275		)	(214		)	(194		)
Settlement/curtailment	—			—			45			—			—			—
Net periodic benefit cost	$	10,134		$	10,886		$	12,346		$	59		$	161		$	175

Schedule Of Expected Benefit Payments For Continuing Operations

Expected benefit payments for continuing operations over the next five years and in the aggregate for 2023-2027 are as follows:



(In thousands)	Pension Benefits		Other Post- Retirement Benefits
2018	$	16,378	$	457
2019	16,916		461
2020	17,403		462
2021	17,762		466
2022	18,075		469
2023—2027	92,799		2,299

Schedule Of Amounts Recognized Before Related Deferred Income Taxes In Accumulated Other Comprehensive Income

Amounts recorded in 2017, 2016 and 2015 in accumulated other comprehensive income, before related deferred income taxes, consist of:



	Pension						Other Post-Retirement
(In thousands)	2017		2016		2015		2017			2016			2015
Prior service cost (benefit)	$	5	$	10	$	18	$	—		$	—		$	—
Net actuarial (gain) loss	144,377		145,782		153,570		(1,238		)	(1,756		)	(1,616		)

Schedule Of Amounts Before Related Deferred Income Taxes In Accumulated Other Comprehensive Income That Are Expected To Be Recognized As Components Of Net Periodic Benefit Or Cost

The amounts in accumulated other comprehensive income, before related deferred income taxes, that are expected to be recognized as components of net periodic benefit or cost during 2018 are as follows:



(In thousands)	Pension		Other Post- Retirement
Prior service cost (benefit)	$	5	$	—
Net actuarial (gain) loss	13,706		(218		)

Schedule Of Percentage Composition Of Assets Held By Pension Plans

The percentage composition of assets held by pension plans for continuing operations at December 31, 2017, 2016 and 2015 are as follows:



	% Composition of Plan Assets at December 31,
	2017		2016		2015
Pension plans related to continuing operations:
Fixed income securities	7.7	%	8.0	%	12.8	%
Large/mid-capitalization equity securities	19.0		14.7		13.8
Small-capitalization equity securities	6.4		5.3		4.0
International and emerging market equity securities	15.1		11.5		10.9
Total equity securities	40.5		31.5		28.7
Private equity and hedge funds	44.6		48.4		52.4
Other assets	7.2		12.1		6.1
Total for continuing operations	100.0	%	100.0	%	100.0	%

Schedule Of Targeted Allocation Percentage For Pension Plan Assets And Expected Long-Term Rate Of Return On Assets

targeted allocation percentage for pension plan assets and the expected long-term rate of return on assets used to determine its benefit obligation at December 31, 2017, are as follows:



	Target % Composition of Plan Assets *		Expected Long-term Return %
Pension plans related to continuing operations:
Fixed income securities	12.0	%	2.1	%
Large/mid-capitalization equity securities	19.0		8.3
Small-capitalization equity securities	6.0		9.6
International and emerging market equity securities	15.0		8.6
Total equity securities	40.0		8.6
Private equity and hedge funds	48.0		5.9
Total for continuing operations	100.0	%	6.5	%
* Target percentages for the composition of plan assets represents a neutral position within the approved range of allocations for such assets.

Schedule Of Pension Plan Assets Categorized By Level Within Fair Value Measurement Hierarchy

At December 31, 2017 and 2016, the pension plan assets are categorized by level within the fair value measurement hierarchy as follows:



(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Balances at December 31, 2017
Large/mid-capitalization equity securities	$	42,920	$	42,920	$	—	$	—
Small-capitalization equity securities	14,477		14,477		—		—
International and emerging market equity securities	34,153		16,409		17,744		—
Fixed income securities	17,513		5,374		12,139		—
Other assets	5,822		5,822		—		—
Total plan assets at fair value	$	114,885	$	85,002	$	29,883	$	—
Private equity and hedge funds	100,974
Contracts with insurance companies	10,495
Total plan assets, December 31, 2017	$	226,354
Balances at December 31, 2016
Large/mid-capitalization equity securities	$	31,549	$	31,549	$	—	$	—
Small-capitalization equity securities	11,389		11,389		—		—
International and emerging market equity securities	24,710		11,410		13,300		—
Fixed income securities	17,213		4,441		12,772		—
Other assets	15,853		15,853		—		—
Total plan assets at fair value	$	100,714	$	74,642	$	26,072	$	—
Private equity and hedge funds	103,686
Contracts with insurance companies	10,158
Total plan assets, December 31, 2016	$	214,558

Schedule Of Fair Value Measurements Of Plan Assets Using Significant Unobservable Inputs (Level 3), Reconciliation Of Balances