Note 6 - Deferred Compensation and Long-term Incentive Plan

3 Months Ended

Mar. 31, 2016

Pension and Other Postretirement Benefits Disclosure [Text Block]

Note 6. Deferred Compensation and Long-Term Incentive Plan

We offer a deferred compensation and long-term incentive plan (the “LTIP”) to provide certain employees the ability to accumulate assets for retirement on a tax-deferred basis. We may make discretionary contributions to the LTIP. Discretionary contributions vest over one to seven years depending on the employee’s age and position. Additionally, a participant may defer a portion of his or her compensation and receive the deferred amount upon certain events, including termination or retirement. The following is a summary related to our LTIP (dollars in thousands):

	Three Months Ended March 31,
	2016			2015
Compensation expense	$	280		$	457
Discretionary contribution		1,382			2,096
Guaranteed annual return		5.25	%		5.25	%

As of March 31, 2016 and December 31, 2015, the balance due, comprised of both amounts participants elected to defer and discretionary contributions, was $18.3 million and $19.7 million, respectively, and was included as a component of accrued liabilities and other long-term liabilities in the Consolidated Balance Sheets.

Assets to fund the obligations of the LTIP are held in a Rabbi Trust and must be used only for purposes of providing benefits under the plan, other than in an event of insolvency. The assets held by the Rabbi Trust are invested in corporate-owned life insurance. As of March 31, 2016 and December 31, 2015, the value of the assets held by the Rabbi trust were $21.3 million and $15.4 million, respectively, and are recorded as a component of Other non-current assets in the Consolidated Balance Sheets.