XML 25 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Post Retirement Benefits
 6 Months Ended
Jun. 30, 2017
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 six months ended June 30, 2017 and 2016 are as follows:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2017
 
2016
 
2017
 
2016
Pension expense:
 
 
 
 
 
 
 
Multi-employer plan
$
169,000

 
$
183,000

 
$
326,000

 
$
370,000

Defined contribution plan
188,000

 
195,000

 
395,000

 
413,000

Total pension expense
357,000

 
378,000

 
721,000

 
783,000

 
 
 
 
 
 
 
 
Health and life insurance:
 
 
 
 
 
 
 
Interest cost
74,000

 
81,000

 
149,000

 
162,000

Amortization of prior service costs
(124,000
)
 
(124,000
)
 
(248,000
)
 
(248,000
)
Amortization of net loss
38,000

 
39,000

 
75,000

 
78,000

Net periodic benefit cost
(12,000
)
 
(4,000
)
 
(24,000
)
 
(8,000
)
 
 
 
 
 
 
 
 
Total post retirement benefits expense
$
345,000

 
$
374,000

 
$
697,000

 
$
775,000



The Company made payments of $999,000 to pension plans and $208,000 for post-retirement healthcare and life insurance during the six months ended June 30, 2017. For the remainder of 2017, the Company expects to make approximately $439,000 of pension plan payments, of which $65,000 was accrued at June 30, 2017. The Company also expects to make approximately $176,000 of post-retirement healthcare and life insurance payments for the remainder of 2017, all of which were accrued at June 30, 2017.