XML 49 R14.htm IDEA: XBRL DOCUMENT v3.3.0.814
Post Retirement Benefits
 9 Months Ended
Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
Post Retirement Benefits
Post Retirement Benefits
The components of expense for Core Molding Technologies’ post retirement benefit plans for the three and nine months ended September 30, 2015 and 2014 are as follows:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
Pension expense:
 
 
 
 
 
 
 
Multi-employer plan
$
218,000

 
$
178,000

 
$
646,000

 
$
514,000

Defined contribution plan
222,000

 
169,000

 
629,000

 
530,000

Total pension expense
440,000

 
347,000

 
1,275,000

 
1,044,000

 
 
 
 
 
 
 
 
Health and life insurance:
 
 
 
 
 
 
 
Interest cost
79,000

 
69,000

 
237,000

 
207,000

Amortization of prior service costs
(124,000
)
 
(124,000
)
 
(372,000
)
 
(372,000
)
Amortization of net loss
42,000

 
12,000

 
126,000

 
36,000

Net periodic benefit cost
(3,000
)
 
(43,000
)
 
(9,000
)
 
(129,000
)
 
 
 
 
 
 
 
 
Total post retirement benefits expense
$
437,000

 
$
304,000

 
$
1,266,000

 
$
915,000



The Company made payments of $1,322,000 to pension plans and $350,000 for post retirement healthcare and life insurance during the nine months ended September 30, 2015. For the remainder of 2015, the Company expects to make approximately $252,000 of pension plan payments, of which $67,000 was accrued at September 30, 2015. The Company also expects to make approximately $150,000 of post retirement healthcare and life insurance payments for the remainder of 2015, all of which were accrued at September 30, 2015.