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Other Liabilities | 3 Months Ended
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Mar. 31, 2018
Other Liabilities [Abstract] |
Other Liabilities | Note 11 – Other Liabilities Other liabilities are summarized as follows:
﻿ |  |  |  |  |  |
﻿(Dollars in thousands) |  | March 31, 2018 |  | December 31, 2017
﻿Current liabilities |  |  |  |  |  |
﻿Lease liability |  | $ | 5,900 |  | $ | 5,900
﻿Liability for demolition costs |  |  | 2,836 |  |  | 2,781
﻿Accrued pension |  |  | 684 |  |  | 2,907
﻿Security deposit payable |  |  | 76 |  |  | 91
﻿Other |  |  | 19 |  |  | --
﻿ Other current liabilities |  | $ | 9,515 |  | $ | 11,679
﻿Other liabilities |  |  |  |  |  |
﻿Straight-line rent liability |  | $ | 15,529 |  | $ | 13,444
﻿Lease make-good provision |  |  | 5,687 |  |  | 5,648
﻿Accrued pension |  |  | 5,047 |  |  | 5,228
﻿Environmental reserve |  |  | 1,656 |  |  | 1,656
﻿Deferred revenue - real estate |  |  | 16 |  |  | 18
﻿Acquired leases |  |  | 163 |  |  | 186
﻿Other |  |  | 455 |  |  | 469
﻿ Other liabilities |  | $ | 28,553 |  | $ | 26,649
﻿ On August 29, 2014, the Supplemental Executive Retirement Plan (“SERP”) that has been effective since March 1, 2007, was ended and replaced in accordance with the terms of a 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 this 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. 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. ﻿ In February 2018 we made a payment of $2.4 million relating to the annuity representing payments for the 42 months outstanding at the time. Monthly ongoing payments of $57,000 are now being made. ﻿ As a result of the above, included in our current and non-current liabilities are accrued pension costs of $5.7 million at March 31, 2018. The benefits of our pension plans are fully vested and therefore no service costs were recognized for the quarter ended March 31, 2018 and 2017. Our pension plans are unfunded. ﻿ During the quarter ended March 31, 2018, the interest cost was $45,000 and actuarial loss was $52,000. During the quarter ended March 31, 2017, the interest cost was $45,000, and actuarial loss was $52,000.

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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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