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Other Liabilities | 9 Months Ended
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Sep. 30, 2016
Other Liabilities [Abstract] |
Other Liabilities | Note 11 – Other Liabilities Other liabilities are summarized as follows: ﻿
﻿ |  |  |  |  |  |
﻿(Dollars in thousands) |  | September 30, 2016 |  | December 31, 2015
﻿Current liabilities |  |  |  |  |  |
﻿Lease liability |  | $ | 5,900 |  | $ | 5,900
﻿Security deposit payable |  |  | 126 |  |  | 180
﻿Accrued pension |  |  | 2,052 |  |  | 1,539
﻿Other |  |  | -- |  |  | 21
﻿ Other current liabilities |  | $ | 8,078 |  | $ | 7,640
﻿Other liabilities |  |  |  |  |  |
﻿Straight-line rent liability |  | $ | 12,385 |  | $ | 10,823
﻿Accrued pension |  |  | 5,858 |  |  | 6,236
﻿Lease make-good provision |  |  | 5,224 |  |  | 5,228
﻿Deferred revenue - real estate |  |  | 4,662 |  |  | 4,596
﻿Environmental reserve |  |  | 1,656 |  |  | 1,656
﻿Interest rate swap |  |  | 200 |  |  | 156
﻿Acquired leases |  |  | 296 |  |  | 866
﻿Other |  |  | 475 |  |  | 501
﻿ Other liabilities |  | $ | 30,756 |  | $ | 30,062
﻿ ﻿ On August 29, 2014, the Supplemental Executive Retirement Plan (“SERP”) that was effective since March 1, 2007, was ended and replaced with a new pension annuity. As a result of the termination of the SERP program, the accrued pension liability of $7.6 million was reversed and replaced with a new pension annuity liability of $7.5 million. The valuation of the liability is based on the present value of $10.2 million discounted at a rate of 4.25% over a 15- year term, resulting in a monthly payment of $57,000 payable to the Cotter Estate or Cotter Trust (as defined herein). The discount rate of 4.25% has been applied since 2014 to determine the net periodic benefit cost and plan benefit obligation and is expected to be used in future years. The discounted value of $2.7 million (which is the difference between the estimated payout of $10.2 million and the present value of $7.5 million) as of August 29, 2014 will be amortized and expensed based on the 15-year term. In addition, the accumulated actuarial loss of $3.1 million recorded, as part of other comprehensive income will also be amortized based on the 15-year term. ﻿ As a result of the above, included in our current and non-current liabilities are accrued pension costs of $7.9 million at September 30, 2016. The benefits of our pension plans are fully vested and therefore no service costs were recognized for the quarter and nine months ended September 30, 2016 and 2015. Our pension plans are unfunded. During the quarter and nine months ended September 30, 2016, the interest cost was $45,000 and $135,000, respectively, and actuarial loss was $52,000 and $116,000, respectively. During the quarter and nine months ended September 30, 2015, the interest cost was $45,000 and $135,000, respectively, and actuarial loss was $51,000 and $155,000, respectively.

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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