XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Other Liabilities | 3 Months Ended
--- | ---
Mar. 31, 2017
Other Liabilities [Abstract] |
Other Liabilities | Note 11 – Other Liabilities Other liabilities are summarized as follows: ﻿
﻿ |  |  |  |  |  |
﻿(Dollars in thousands) |  | March 31, 2017 |  | December 31, 2016
﻿Current liabilities |  |  |  |  |  |
﻿Liability for demolition costs |  | $ | 3,534 |  | $ | 5,914
﻿Lease liability |  | $ | 5,900 |  | $ | 5,900
﻿Accrued pension |  |  | 2,394 |  |  | 2,223
﻿Security deposit payable |  |  | 87 |  |  | 77
﻿Other |  |  | 63 |  |  | 17
﻿ Other current liabilities |  | $ | 11,978 |  | $ | 14,131
﻿Other liabilities |  |  |  |  |  |
﻿Straight-line rent liability |  | $ | 12,556 |  | $ | 12,413
﻿Accrued pension |  |  | 5,606 |  |  | 5,732
﻿Lease make-good provision |  |  | 5,363 |  |  | 5,146
﻿Deferred revenue - real estate |  |  | 4,716 |  |  | 4,398
﻿Environmental reserve |  |  | 1,656 |  |  | 1,656
﻿Interest rate swap |  |  | 4 |  |  | 58
﻿Acquired leases |  |  | 250 |  |  | 267
﻿Other |  |  | 497 |  |  | 495
﻿ Other liabilities |  | $ | 30,648 |  | $ | 30,165
﻿ 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 $8.0 million at March 31, 2017. The benefits of our pension plans are fully vested and therefore no service costs were recognized for the three months ended March 31, 2017 and 2016. Our pension plans are unfunded. During the three months ended March 31, 2017, the interest cost was $45,000, and actuarial loss was $52,000. During the three months ended March 31, 2016, the interest cost was $45,000, and actuarial loss was $32,000.

X
- References No definition available. + Details
Name: | us-gaap_OtherLiabilitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_OtherLiabilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration