Pension Plans (Tables)

12 Months Ended

Dec. 31, 2018

Defined Benefit Plan Disclosure [Line Items]

Funded Status and Accrued Pension Cost

The following table sets forth the funded status at December 31 (amounts in thousands):

	2018		2017
CHANGE IN BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$	85,695	$	85,360
Interest cost		2,829		3,019
Actuarial (gain) loss		(4,459)		3,624
Benefits paid		(6,218)		(6,308)
Benefit obligation at end of year		77,847		85,695
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year		69,245		65,446
Actual return on plan assets		(4,937)		10,107
Employer contributions		1,563		—
Benefits paid		(6,218)		(6,308)
Fair value of plan assets at end of year		59,653		69,245
Funded status and accrued pension cost	$	(18,194)	$	(16,450)

Assumptions Used to Determine Benefit Obligations

The weighted-average assumptions used to determine the benefit obligation at December 31 are as follows:

	2018		2017		2016
Discount rate	3.95	%	3.30	%	3.72	%
Rate of compensation increase	N/A		N/A		N/A

The weighted-average assumptions used to determine the net periodic pension expense for years ended December 31 are as follows:

	2018		2017		2016
Discount rate	3.47	%	3.59	%	3.70	%
Rate of compensation increase	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.50	%	6.50	%	6.50	%

Allocation of Defined Benefit Pension Plans Assets

The allocation of the defined benefit pension plan’s assets at December 31 are as follows (amounts in thousands):

Asset Class	2018		2017
Cash	$	162	$	642
Mutual funds		59,491		68,603
Total	$	59,653	$	69,245

Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Net Periodic Pension and Postretirement Benefit (Income) Expense

Net periodic pension expense reflected in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands):

	2018		2017		2016
Interest cost	$	2,829	$	3,019	$	3,173
Expected return on plan assets		(4,363)		(4,202)		(4,131)
Amortization of net actuarial loss		750		919		1,047
Net settlement loss		1,559		1,734		1,715
Total net periodic pension expense	$	775	$	1,470	$	1,804

Expected Future Benefit Payments

The Company expects to contribute approximately $1.5 million to its defined benefit pension plan in 2019. Based on the Company’s assumptions discussed above, the Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands):

2019	$	4,073
2020		4,694
2021		4,930
2022		5,882
2023		5,066
2024 - 2028		30,061