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BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Funded Status for All Qualified and Non-Qualified Defined Benefit Plans
Summarized below is the funded status and the amounts recorded on the Company's consolidated balance sheets for all of the Company's Defined Benefit Plans at December 31, 2015 and 2014:
 
December 31,
 
2015
 
2014
Change in projected benefit obligation:
 
 
 
Projected benefit obligation at beginning of year
$
430,846

 
$
433,916

Service cost
344

 
774

Interest cost
15,523

 
18,040

Actuarial (gain) loss
(14,912
)
 
9,006

Benefits paid
(27,838
)
 
(30,890
)
Projected benefit obligation at end of year
403,963

 
430,846

 
 
 
 
Change in plan assets:
 

 
 

Fair value of plan assets at beginning of year
303,676

 
268,610

Actual return (loss) on plan assets, net
(3,921
)
 
11,687

Employer contributions
25,929

 
54,269

Benefits paid
(27,838
)
 
(30,890
)
Fair value of plan assets at end of year
297,846

 
303,676

 
 
 
 
Unfunded status at end of year
$
(106,117
)
 
$
(127,170
)
Net Funded Status Relating to Defined Benefit Plans
The Company's net funded status relating to its Defined Benefit Plans at December 31, 2015 and 2014 are as follows:
 
2015
 
2014
Defined Benefit Plans
$
(106,117
)
 
$
(127,170
)
Less:  Current portion related to nonqualified plans
6,889

 
6,526

Long-term defined benefit plan obligations
$
(99,228
)
 
$
(120,644
)
 
Components of Net Periodic Benefit Cost for Defined Benefit Plans
Components of the net periodic benefit cost, recorded primarily in selling, general and administrative expenses, for the Defined Benefit Plans for the years ended December 31, 2015, 2014 and 2013, are as follows:
 
Years Ended December 31,
 
2015
 
2014
 
2013
 
 
 
 
 
 
Service cost
$
344

 
$
774

 
$
45,346

Interest cost
15,523

 
18,040

 
14,128

Expected return on plan assets, net
(8,297
)
 
(9,548
)
 
(7,866
)
Recognized actuarial loss (reclassified from accumulated other comprehensive loss)
1,294

 
2,364

 
1,645

Settlement loss (reclassified from accumulated other comprehensive loss) (a)
3,822

 
5,348

 
—

Net periodic benefit cost
$
12,686

 
$
16,978

 
$
53,253

 

(a)
As a result of benefit payments to terminated or retired individuals exceeding the service and interest costs for the Pension Plan and the Excess Cash Balance Pension Plan during 2015 and 2014, the Company recognized a non-cash settlement loss that represented the acceleration of the recognition of a portion of the previously unrecognized actuarial losses recorded in accumulated other comprehensive loss on the Company’s consolidated balance sheets relating to these plans.
Plan Assumptions for Defined Benefit Plans
Weighted-average assumptions used to determine net periodic cost (made at the beginning of the year) and benefit obligations (made at the end of the year) for the Defined Benefit Plans are as follows:
 
Weighted-Average Assumptions
 
Net Periodic Benefit Cost for the
Years Ended December 31,
 
Benefit Obligations
at December 31,
 
2015
 
2014
 
2013
 
2015
 
2014
Discount rate (a)
3.83
%
 
4.24
%
 
3.67
%
 
3.94
%
 
3.70
%
Rate of increase in future compensation levels
—
%
 
3.50
%
 
3.50
%
 
—
%
 
3.50
%
Expected rate of return on plan assets (Pension Plan only)
4.03
%
 
4.53
%
 
3.60
%
 
N/A

 
N/A


 
(a)
The discount rates of 3.83% and 4.24% in 2015 and 2014, respectively, represent the average of the quarterly discount rates used to remeasure the Company's projected benefit obligation and net periodic benefit cost in connection with the recognition of settlement losses discussed above.
Weighted Average Asset Allocations of Pension Plan
The weighted average asset allocations of the Pension Plan at December 31, 2015 and 2014 were as follows:
 
Plan Assets at
December 31,
 
2015
 
2014
Asset Class:
 
 
 
Mutual funds
39
%
 
39
%
Fixed income securities
61

 
58

Cash equivalents and other
—

 
3

 
100
%
 
100
%
Fair Values of the Pension Plan Assets by Asset Category
The fair values of the assets of the Pension Plan at December 31, 2015 by asset class are as follows:
Asset Class
Level I
 
Level II
 
Level III
 
Total
 
 
 
 
 
 
 
 
Mutual funds
$
117,174

 
$
—

 
$
—

 
$
117,174

Fixed income securities held in a portfolio:
 
 
 
 
 
 
 
Foreign issued corporate debt
—

 
12,825

 
—

 
12,825

U.S. corporate debt
—

 
54,005

 
—

 
54,005

Government debt
—

 
8,273

 
—

 
8,273

U.S. Treasury securities
—

 
90,414

 
—

 
90,414

Asset-backed securities
—

 
18,563

 
—

 
18,563

Cash equivalents (a)
893

 
—

 
—

 
893

Total (b)
$
118,067

 
$
184,080

 
$
—

 
$
302,147

 
(a)
Represents an investment in a money market fund.
(b)
Excludes cash and net payables relating to the purchase of securities that were not settled as of December 31, 2015.
The fair values of the assets of the Pension Plan at December 31, 2014 by asset class are as follows:
Asset Class
Level I
 
Level II
 
Level III
 
Total
 
 
 
 
 
 
 
 
Mutual funds
$
119,543

 
$
—


$
—

 
$
119,543

Fixed income securities held in a portfolio:
 
 
 
 
 
 
 
Foreign issued corporate debt
—

 
17,778

 
—

 
17,778

U.S. corporate debt
—

 
50,155

 
—

 
50,155

Government debt
—

 
10,239

 
—

 
10,239

U.S. Treasury securities
—

 
81,552

 
—

 
81,552

Asset-backed securities
—

 
17,610

 
—

 
17,610

Cash equivalents (a)
3,580

 
—

 
—

 
3,580

Total (b)
$
123,123

 
$
177,334

 
$
—

 
$
300,457

 
(a)
Represents an investment in a money market fund.
(b)
Excludes cash and net receivables relating to the sale of securities that were not settled as of December 31, 2014.
Projected Future Benefit Payments for Qualified and Non-Qualified Defined Benefit Plans
The following benefit payments are expected to be paid:
2016
$
40,666

2017
31,132

2018
29,219

2019
28,374

2020
28,942

2021-2025
124,043