Pension Plans (Tables)

12 Months Ended

Dec. 31, 2020

Pension Plans

Schedule of defined benefit plans' funded status and amounts recognized in the entity's consolidated balance sheets

	2020		2019
Change in benefit obligation:
Benefit obligation at beginning of year	$	15,455,000	$	13,359,000
Interest cost		436,000		516,000
Actuarial loss		1,569,000		1,998,000
Benefits paid		(432,000)		(418,000)
Benefit obligation at end of year		17,028,000		15,455,000
Change in plan assets:
Fair value of plan assets at beginning of year		13,134,000		11,440,000
Actual gain on plan assets		2,009,000		2,108,000
Contributions		—		—
Benefits paid		(432,000)		(418,000)
Other		4,000		4,000
Fair value of plan assets at end of year		14,715,000		13,134,000
Unfunded status	$	(2,313,000)	$	(2,321,000)

Schedule of amounts recognized in the entity's consolidated balance sheets

	2020		2019
Accrued liabilities	$	(1,442,000)	$	(1,305,000)
Liability for pension benefits		(871,000)		(1,016,000)
	$	(2,313,000)	$	(2,321,000)

Schedule of amounts expected to recognized as components of net periodic pension benefit, which are included in accumulated other comprehensive loss

	2020		2019
Net actuarial loss, pre-tax	$	6,306,000	$	6,176,000

Schedule of components of net periodic pension benefit for defined benefit pension plans

	2020		2019		2018
Interest cost	$	436,000	$	516,000	$	463,000
Expected return on plan assets		(740,000)		(727,000)		(699,000)
Recognized net actuarial loss		167,000		149,000		151,000
	$	(137,000)	$	(62,000)	$	(85,000)

Schedule of principal assumptions used to determine the net periodic pension benefit and the actuarial value of the benefit obligation

	Net Periodic Pension Cost						Benefit Obligation
	2020		2019		2018		2020		2019
Weighted-average discount rate	3.4	%	4.4	%	3.8	%	2.8	%	3.4	%
Weighted-average rate of compensation increase	n/a		n/a		n/a		n/a		n/a
Expected long-term rate of return on plan assets	5.75	%	6.5	%	6.5	%	n/a		n/a

Schedule of fair values of the entity's pension assets

The fair values of our pension assets as of December 31, 2020 by asset category are as follows (refer to NOTE 9 — Fair Value Measurements for a description of Level 1, Level 2 and Level 3 categories):

Asset Category	Total		Level 1		Level 2		Level 3
Mutual funds/ETFs:
Equity-large cap	$	1,108,000	$	1,108,000	$	—	$	—
Equity-mid cap		405,000		405,000		—		—
Equity-small cap		313,000		313,000		—		—
Equity-international		750,000		750,000		—		—
Fixed income		11,798,000		11,798,000		—		—
Money market		341,000		341,000		—		—
Total mutual funds/ETFs	$	14,715,000	$	14,715,000	$	—	$	—

The fair values of our pension assets as of December 31, 2019 by asset category are as follows (refer to NOTE 9 — Fair Value Measurements for a description of Level 1, Level 2 and Level 3 categories):

Asset Category	Total		Level 1		Level 2		Level 3
Mutual funds/ETFs:
Equity-large cap	$	995,000	$	995,000	$	—	$	—
Equity-mid cap		502,000		502,000		—		—
Equity-small cap		560,000		560,000		—		—
Equity-international		667,000		667,000		—		—
Fixed income		10,358,000		10,358,000		—		—
Money market		52,000		52,000		—		—
Total mutual funds/ETFs	$	13,134,000	$	13,134,000	$	—	$	—

Schedule of estimated future benefit payments

2021	$	1,989,000
2022	$	605,000
2023	$	665,000
2024	$	669,000
2025	$	722,000
2026-2030	$	3,643,000