XML 25 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
Post Retirement Benefits
 9 Months Ended
Sep. 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 nine months ended September 30, 2017 and 2016 are as follows:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2017
 
2016
 
2017
 
2016
Pension expense:
 
 
 
 
 
 
 
Multi-employer plan
$
153,000

 
$
168,000

 
$
479,000

 
$
538,000

Defined contribution plan
162,000

 
165,000

 
557,000

 
578,000

Total pension expense
315,000

 
333,000

 
1,036,000

 
1,116,000

 
 
 
 
 
 
 
 
Health and life insurance:
 
 
 
 
 
 
 
Interest cost
75,000

 
81,000

 
224,000

 
243,000

Amortization of prior service costs
(124,000
)
 
(124,000
)
 
(372,000
)
 
(372,000
)
Amortization of net loss
37,000

 
38,000

 
112,000

 
116,000

Net periodic benefit cost
(12,000
)
 
(5,000
)
 
(36,000
)
 
(13,000
)
 
 
 
 
 
 
 
 
Total post retirement benefits expense
$
303,000

 
$
328,000

 
$
1,000,000

 
$
1,103,000



The Company made payments of $1,209,000 to pension plans and $252,000 for post-retirement healthcare and life insurance during the nine months ended September 30, 2017. For the remainder of 2017, the Company expects to make approximately $203,000 of pension plan payments, of which $53,000 was accrued at September 30, 2017. The Company also expects to make approximately $132,000 of post-retirement healthcare and life insurance payments for the remainder of 2017, all of which were accrued at September 30, 2017.