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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2017
Employee Benefit Plans [Abstract] |
Change in Plan Assets and Funded Status |
﻿ |  |  |  |  |  |  |  |
﻿ |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2017 |  | 2016 |  | 2017 |  | 2016
﻿Change in benefit obligation |  |  |  |  |  |  |  |
﻿Benefit obligation – Beginning of year |  | $ 53,293 |  | $ 53,440 |  | $ 6,172 |  | $ 72,902
﻿Service cost |  | - |  | - |  | 48 |  | 60
﻿Interest cost |  | 1,786 |  | 2,329 |  | 199 |  | 934
﻿Actuarial loss (gain) |  | 2,599 |  | 1,222 |  | (74) |  | 1,586
﻿Benefits paid |  | (3,629) |  | (3,778) |  | (539) |  | (488)
﻿Lump-sum settlement payment |  | - |  | - |  | - |  | (31,616)
﻿Settlement gain |  | - |  | - |  | - |  | (37,190)
﻿Plan curtailment |  | - |  | (51) |  | - |  | (32)
﻿Special termination benefits |  | 270 |  | 131 |  | 150 |  | 16
﻿Benefit obligation – End of year |  | 54,319 |  | 53,293 |  | 5,956 |  | 6,172
﻿Change in plan assets |  |  |  |  |  |  |  |
﻿Plan assets – Beginning of year |  | 46,472 |  | 46,767 |  | - |  | -
﻿Return on plan assets |  | 5,713 |  | 3,483 |  | - |  | -
﻿Employer contributions |  | - |  | - |  | 539 |  | 32,104
﻿Benefits paid |  | (3,629) |  | (3,778) |  | (539) |  | (488)
﻿Lump-sum settlement payment |  | - |  | - |  | - |  | (31,616)
﻿Plan assets at fair value – End of year |  | 48,556 |  | 46,472 |  | - |  | -
﻿Funded status of plans – End of year |  | $ (5,763) |  | $ (6,821) |  | $ (5,956) |  | $ (6,172)
﻿
Schedule of Amounts Recognized in Balance Sheet |
﻿ |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2017 |  | 2016 |  | 2017 |  | 2016
﻿Amounts recognized in the Consolidated Balance Sheets |  |  |  |  |  |  |  |
﻿Current liabilities |  | $ - |  | $ - |  | $ (400) |  | $ (403)
﻿Noncurrent liabilities |  | (5,763) |  | (6,821) |  | (5,556) |  | (5,769)
﻿Net amount recognized at December 31 |  | $ (5,763) |  | $ (6,821) |  | $ (5,956) |  | $ (6,172)
﻿
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) |
﻿ |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2017 |  | 2016 |  | 2017 |  | 2016
﻿ |  |  |  |  |  |  |  |
﻿Net actuarial loss (gain) |  | $ 15,827 |  | $ 16,847 |  | $ (2,846) |  | $ (3,089)
﻿Prior service cost |  | - |  | - |  | 173 |  | 187
﻿ |  | $ 15,827 |  | $ 16,847 |  | $ (2,673) |  | $ (2,902)
﻿ |  |  |  |  |  |  |  |
﻿
Components of Net Periodic Benefit Cost |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015
﻿Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |  |
﻿Service cost |  | $ - |  | $ - |  | $ - |  | $ 48 |  | $ 60 |  | $ 70
﻿Interest cost |  | 1,786 |  | 2,329 |  | 2,319 |  | 199 |  | 934 |  | 2,970
﻿Expected return on plan assets |  | (2,569) |  | (2,745) |  | (3,046) |  | - |  | - |  | -
﻿Amortization of unrecognized prior service cost |  | - |  | - |  | - |  | 14 |  | 18 |  | 42
﻿Amortization of unrecognized net loss (gain) |  | 475 |  | 499 |  | 440 |  | (317) |  | (97) |  | 647
﻿Lump-sum settlement cost |  | - |  | - |  | - |  | - |  | (15,606) |  | -
﻿Curtailment recognition |  | - |  | - |  | - |  | - |  | 6 |  | -
﻿Contractual benefit charge |  | 270 |  | 131 |  | - |  | 150 |  | 16 |  | -
﻿Total net periodic benefit cost |  | $ (38) |  | $ 214 |  | $ (287) |  | $ 94 |  | $ (14,669) |  | $ 3,729
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) |
﻿ |  |  |  |  |  |  |  |
﻿ |  | 2017 |  | 2016
﻿ |  | Pension Benefits |  | Postretirement Benefits |  | Pension Benefits |  | Postretirement Benefits
﻿Net actuarial loss (gain) |  | $ (545) |  | $ (74) |  | $ 433 |  | $ 1,586
﻿Settlement gain |  | - |  | - |  | - |  | (37,190)
﻿Curtailment - prior service cost |  | - |  | - |  | - |  | (38)
﻿Net actuarial loss settlement expense |  | - |  | - |  | - |  | 15,606
﻿Amortization of net actuarial loss (gain) |  | (475) |  | 317 |  | (499) |  | 97
﻿Amortization of prior service cost |  | - |  | (14) |  | - |  | (18)
﻿Total recognized in accumulated other comprehensive loss (gain) |  | $ (1,020) |  | $ 229 |  | $ (66) |  | $ (19,957)
﻿
Schedule of Expected Benefit Payments |
﻿ |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  |  |  |
﻿2018 |  | $ 3,437 |  | $ 400
﻿2019 |  | 3,334 |  | 383
﻿2020 |  | 3,307 |  | 374
﻿2021 |  | 3,281 |  | 370
﻿2022 |  | 3,282 |  | 370
﻿2023 through 2027 |  | 16,032 |  | 1,814
﻿
Schedule of Assumptions Used | The assumptions used to determine end of year benefit obligations are shown in the following table: ﻿
﻿ |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2017 |  | 2016 |  | 2017 |  | 2016
﻿Discount rates |  | 3.68% |  | 4.21% |  | 3.65% |  | 4.21%
﻿ |  |  |  |  |  |  |  |
﻿ ﻿ The discount rate is determined using a yield curve model that uses yields on high quality corporate bonds (AA rated or better) to produce a single equivalent rate. The yield curve model excludes callable bonds except those with make-whole provisions, private placements and bonds with variable rates. ﻿ In October 2017, the Society of Actuaries published updated mortality improvement assumptions for U.S. plans, scale (MP-2017), which reflects additional data that the Social Security Administration has released since prior assumptions (MP-2016) were developed. Scale (MP-2017) results in lower projected mortality improvement than scale (MP-2016). The Company has historically utilized the Society of Actuaries’ published mortality data in its plan assumptions. Accordingly, the Company adopted MP-2017 for purposes of measuring its pension and postretirement obligations at December 31, 2017. ﻿ The assumptions used in the measurement of net periodic cost are shown in the following table: ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2017 |  | 2016 | 2015 |  | 2017 |  | 2016 | 2015
﻿Discount rate for benefit obligations |  | 4.22% |  | 4.47% |  | 4.15% |  | 4.18% |  | 4.39% |  | 4.03%
﻿Expected return on plan assets |  | 5.75% |  | 6.11% |  | 6.24% |  | N/A |  | N/A |  | N/A
﻿Rate for interest on benefit obligations |  | 3.51% |  | N/A |  | N/A |  | 3.48% |  | N/A |  | N/A
﻿Discount rate for service cost |  | N/A |  | N/A |  | N/A |  | 4.55% |  | N/A |  | N/A
﻿
Schedule of Allocation of Plan Assets | The Company’s pension plan’s weighted average asset allocations at December 31, 2017 and 2016, and target allocations for 2018, by asset category, are as follows: ﻿
﻿ |  |  |  |  |  |
﻿ |  | Plan Assets at December 31, |  | Target Allocation
﻿ |  | 2017 |  | 2016 |  | 2018
﻿Asset Category |  |  |  |  |  |
﻿Cash and cash equivalents |  | 1% |  | 1% |  | 0% - 5%
﻿Equity securities |  | 57% |  | 55% |  | 45% - 65%
﻿Fixed income securities |  | 37% |  | 39% |  | 30% - 50%
﻿Real estate |  | 5% |  | 5% |  | 4%-6%
﻿ |  | 100% |  | 100% |  | 100%
﻿ |  |  |  |  |  |
The basic goal underlying the pension plan investment policy is to ensure that the assets of the plans, along with expected plan sponsor contributions, will be invested in a prudent manner to meet the obligations of the plans as those obligations come due under a broad range of potential economic and financial scenarios, maximize the long-term investment return with an acceptable level of risk based on such obligations, and broadly diversify investments across and within the capital markets to protect asset values against adverse movements in any one market. The Company’s investment strategy balances the requirement to maximize returns using potentially higher return generating assets, such as equity securities, with the need to manage the risk of such investments with less volatile assets, such as fixed-income securities. Investment practices must comply with the requirements of ERISA and any other applicable laws and regulations. The Company, in consultation with its investment advisors, has determined a targeted allocation of invested assets by category and it works with its advisors to reasonably maintain the actual allocation of assets near the target. The long term return on assets was estimated based upon historical market performance, expectations of future market performance for debt and equity securities and the related risks of various allocations between debt and equity securities. Numerous asset classes with differing expected rates of return, return volatility and correlations are utilized to reduce risk through diversification. ﻿ The Company’s pension plan assets are invested in one mutual fund for each fund classification. The following table presents the fair value of pension plan assets classified under the appropriate level of the ASC 820 fair value hierarchy (see Note 2 for a description of the fair value hierarchy) as of December 31, 2017 and 2016: ﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |
﻿ Pension Plan Assets |  | As of December 31, 2017
﻿ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Mutual funds: |  |  |  |  |  |  |  |
﻿Fixed income funds |  | $ 18,250 |  | - |  | - |  | $ 18,250
﻿Large cap funds |  | 15,356 |  | - |  | - |  | 15,356
﻿Small cap funds |  | 4,589 |  | - |  | - |  | 4,589
﻿International funds |  | 7,755 |  | - |  | - |  | 7,755
﻿Real estate funds |  | 2,385 |  | - |  | - |  | 2,385
﻿Cash and equivalents |  | 221 |  | - |  | - |  | 221
﻿Total |  | $ 48,556 |  | $ - |  | $ - |  | $ 48,556
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |
﻿ Pension Plan Assets |  | As of December 31, 2016
﻿ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Mutual funds: |  |  |  |  |  |  |  |
﻿Fixed income funds |  | $ 18,051 |  | - |  | - |  | $ 18,051
﻿Large cap funds |  | 14,864 |  | - |  | - |  | 14,864
﻿Small cap funds |  | 3,970 |  | - |  | - |  | 3,970
﻿International funds |  | 6,554 |  | - |  | - |  | 6,554
﻿Real estate funds |  | 2,273 |  | - |  | - |  | 2,273
﻿Cash and equivalents |  | 760 |  | - |  | - |  | 760
﻿Total |  | $ 46,472 |  | $ - |  | $ - |  | $ 46,472
﻿
Schedule of Changes in Fair Value of Plan Assets |
Pension Plan Assets |  | As of December 31, 2017
﻿ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Mutual funds: |  |  |  |  |  |  |  |
﻿Fixed income funds |  | $ 18,250 |  | - |  | - |  | $ 18,250
﻿Large cap funds |  | 15,356 |  | - |  | - |  | 15,356
﻿Small cap funds |  | 4,589 |  | - |  | - |  | 4,589
﻿International funds |  | 7,755 |  | - |  | - |  | 7,755
﻿Real estate funds |  | 2,385 |  | - |  | - |  | 2,385
﻿Cash and equivalents |  | 221 |  | - |  | - |  | 221
﻿Total |  | $ 48,556 |  | $ - |  | $ - |  | $ 48,556
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |
﻿ Pension Plan Assets |  | As of December 31, 2016
﻿ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Mutual funds: |  |  |  |  |  |  |  |
﻿Fixed income funds |  | $ 18,051 |  | - |  | - |  | $ 18,051
﻿Large cap funds |  | 14,864 |  | - |  | - |  | 14,864
﻿Small cap funds |  | 3,970 |  | - |  | - |  | 3,970
﻿International funds |  | 6,554 |  | - |  | - |  | 6,554
﻿Real estate funds |  | 2,273 |  | - |  | - |  | 2,273
﻿Cash and equivalents |  | 760 |  | - |  | - |  | 760
﻿Total |  | $ 46,472 |  | $ - |  | $ - |  | $ 46,472
﻿

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