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v3.19.3.a.u2

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Employee Benefit Plans [Abstract] |
Change in Plan Assets and Funded Status |
﻿ |  |  |  |  |  |  |  |
﻿ |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2019 |  | 2018 |  | 2019 |  | 2018
﻿Change in benefit obligation |  |  |  |  |  |  |  |
﻿Benefit obligation – Beginning of year |  | $ 48,590 |  | $ 54,319 |  | $ 5,370 |  | $ 5,956
﻿Service cost |  | - |  | - |  | 18 |  | 33
﻿Interest cost |  | 1,863 |  | 1,712 |  | 183 |  | 186
﻿Actuarial loss (gain) |  | 6,157 |  | (4,037) |  | - |  | (237)
﻿Benefits paid |  | (3,316) |  | (3,404) |  | (601) |  | (568)
﻿Liability gain due to termination |  | - |  | - |  | (4,369) |  | -
﻿Benefit obligation – End of year |  | 53,294 |  | 48,590 |  | 601 |  | 5,370
﻿Change in plan assets |  |  |  |  |  |  |  |
﻿Plan assets – Beginning of year |  | 42,749 |  | 48,556 |  | - |  | -
﻿Return on plan assets |  | 7,351 |  | (2,403) |  | - |  | -
﻿Employer contributions |  | - |  | - |  | 601 |  | 568
﻿Benefits paid |  | (3,316) |  | (3,404) |  | (601) |  | (568)
﻿Plan assets at fair value – End of year |  | 46,784 |  | 42,749 |  | - |  | -
﻿Funded status of plans – End of year |  | $ (6,510) |  | $ (5,841) |  | $ (601) |  | $ (5,370)
﻿
Schedule of Amounts Recognized in Balance Sheet |
﻿ |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2019 |  | 2018 |  | 2019 |  | 2018
﻿Amounts recognized in the Consolidated Balance Sheets |  |  |  |  |  |  |  |
﻿Current liabilities |  | $ - |  | $ - |  | $ (181) |  | $ (395)
﻿Noncurrent liabilities |  | (6,510) |  | (5,841) |  | (420) |  | (4,975)
﻿Net amount recognized at December 31 |  | $ (6,510) |  | $ (5,841) |  | $ (601) |  | $ (5,370)
﻿
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) |
﻿ |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2019 |  | 2018 |  | 2019 |  | 2018
﻿ |  |  |  |  |  |  |  |
﻿Net actuarial loss (gain) |  | $ 17,062 |  | $ 16,586 |  | $ - |  | $ (2,801)
﻿Prior service cost |  | - |  | - |  | - |  | 158
﻿ |  | $ 17,062 |  | $ 16,586 |  | $ - |  | $ (2,643)
﻿
Components of Net Periodic Benefit Cost |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  |  | Postretirement Benefits
﻿ |  | 2019 |  | 2018 |  |  | 2019 |  | 2018
﻿Components of net periodic benefit cost |  |  |  |  |  |  |  |  |
﻿Service cost |  | $ - |  | $ - |  |  | $ 18 |  | $ 33
﻿Interest cost |  | 1,863 |  | 1,712 |  |  | 183 |  | 186
﻿Expected return on plan assets |  | (2,218) |  | (2,845) |  |  | - |  | -
﻿Amortization of unrecognized prior service cost |  | - |  | - |  |  | 14 |  | 14
﻿Amortization of unrecognized net loss (gain) |  | 549 |  | 451 |  |  | (389) |  | (282)
﻿Termination gain |  | - |  | - |  |  | (6,637) |  | -
﻿Contractual benefit charge |  | - |  | - |  |  | - |  | -
﻿Total net periodic benefit cost |  | $ 194 |  | $ (682) |  |  | $ (6,811) |  | $ (49)
﻿ |  |  |  |  |  |  |  |  |
﻿
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss |
﻿ |  |  |  |  |  |  |  |
﻿ |  | 2019 |  | 2018
﻿ |  | Pension Benefits |  | Postretirement Benefits |  | Pension Benefits |  | Postretirement Benefits
﻿Net actuarial loss (gain) |  | $ 1,025 |  | $ - |  | $ 1,210 |  | $ (237)
﻿Liability gain due to termination |  | - |  | (4,369) |  | - |  | -
﻿Termination gain |  | - |  | 6,637 |  | - |  | -
﻿Amortization of net actuarial loss (gain) |  | (549) |  | 389 |  | (451) |  | 282
﻿Amortization of prior service cost |  | - |  | (14) |  | - |  | (14)
﻿Total recognized in accumulated other comprehensive loss (gain) |  | $ 476 |  | $ 2,643 |  | $ 759 |  | $ 31
﻿
Schedule of Expected Benefit Payments |
﻿ |  |
﻿ |  | Pension Benefits
﻿ |  |
﻿2020 |  | $ 3,338
﻿2021 |  | 3,304
﻿2022 |  | 3,294
﻿2023 |  | 3,278
﻿2024 |  | 3,245
﻿2025 through 2029 |  | 15,633
﻿
Schedule of Assumptions Used | The assumptions used to determine end of year benefit obligations are shown in the following table: ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2019 |  | 2018 |  | 2019 |  | 2018
﻿Discount rates |  | 3.22% |  | 4.35% |  | N/A |  | 4.32%
﻿ ﻿ ﻿ 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 2019, the Society of Actuaries issued base mortality table Pri-2012 which is split by retiree and contingent survivor tables and includes mortality improvement assumptions for U.S. plans, scale (MP-2019), which reflects additional data that the Social Security Administration has released since prior assumptions (MP-2018) were developed. The Company has historically utilized the Society of Actuaries’ published mortality data in its plan assumptions. Accordingly, the Company adopted Pri-2012 with MP-2019 for purposes of measuring its pension obligations at December 31, 2019. ﻿ The assumptions used in the measurement of net periodic cost are shown in the following table: ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Pension Benefits |  | Postretirement Benefits
﻿ |  | 2019 |  | 2018 |  | 2019 |  | 2018
﻿Discount rate for benefit obligations |  | 4.36% |  | 3.68% |  |  | 4.34% |  | 3.65%
﻿Expected return on plan assets |  | 5.40% |  | 6.07% |  |  | N/A |  | N/A
﻿Rate for interest on benefit obligations |  | 3.96% |  | 3.28% |  |  | 3.94% |  | 3.24%
﻿Discount rate for service cost |  | N/A |  | N/A |  |  | 4.60% |  | 3.89%
﻿
Schedule of Allocation of Plan Assets |
﻿ |  |  |  |  |  |
﻿ |  | Plan Assets at December 31, |  | Target Allocation
﻿ |  | 2019 |  | 2018 |  | 2019
﻿Asset Category |  |  |  |  |  |
﻿Cash and cash equivalents |  | 1% |  | 1% |  | 0% - 5%
﻿Equity securities |  | 54% |  | 51% |  | 45% - 65%
﻿Fixed income securities |  | 40% |  | 43% |  | 30% - 50%
﻿Real estate |  | 5% |  | 5% |  | 4%-6%
﻿ |  | 100% |  | 100% |  | 100%
﻿ |  |  |  |  |  |
﻿
Schedule of Changes in Fair Value of Plan Assets | ﻿
﻿ |  |  |  |  |  |  |  |
﻿ Pension Plan Assets |  | As of December 31, 2019
﻿ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Mutual funds: |  |  |  |  |  |  |  |
﻿Fixed income funds |  | $ 18,720 |  | - |  | - |  | $ 18,720
﻿Large cap funds |  | 15,546 |  | - |  | - |  | 15,546
﻿Small cap funds |  | 3,567 |  | - |  | - |  | 3,567
﻿International funds |  | 6,369 |  | - |  | - |  | 6,369
﻿Real estate funds |  | 2,339 |  | - |  | - |  | 2,339
﻿Cash and equivalents |  | 243 |  | - |  | - |  | 243
﻿Total |  | $ 46,784 |  | $ - |  | $ - |  | $ 46,784
﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |
﻿ Pension Plan Assets |  | As of December 31, 2018
﻿ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Mutual funds: |  |  |  |  |  |  |  |
﻿Fixed income funds |  | $ 18,210 |  | - |  | - |  | $ 18,210
﻿Large cap funds |  | 12,671 |  | - |  | - |  | 12,671
﻿Small cap funds |  | 3,562 |  | - |  | - |  | 3,562
﻿International funds |  | 5,799 |  | - |  | - |  | 5,799
﻿Real estate funds |  | 2,195 |  | - |  | - |  | 2,195
﻿Cash and equivalents |  | 312 |  | - |  | - |  | 312
﻿Total |  | $ 42,749 |  | $ - |  | $ - |  | $ 42,749
﻿

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- 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=118255775&loc=d3e1928-114920 + Details
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