XML 85 R51.htm IDEA: XBRL DOCUMENT v3.10.0.1
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Defined Benefit Plan [Abstract]  
Funded Status Of The Terra Nova Pension Plan
The following table summarizes the funded status of the Terra Nova Pension Plan and the amounts recognized on the accompanying consolidated balance sheets of the Company.

 
Years Ended December 31,
(dollars in thousands)
2018
 
2017
Change in projected benefit obligation:
 
 
 
Projected benefit obligation at beginning of period
$
199,117

 
$
178,618

Interest cost
4,815

 
5,016

Benefits paid
(8,045
)
 
(5,644
)
Actuarial gain (loss)
(15,853
)
 
4,985

Effect of foreign currency rate changes
(8,537
)
 
16,142

Projected benefit obligation at end of year
$
171,497

 
$
199,117

Change in plan assets:
 
 
 
Fair value of plan assets at beginning of period
$
206,570

 
$
175,644

Actual gain (loss) on plan assets
(5,683
)
 
16,902

Employer contributions
3,368

 
3,393

Benefits paid
(8,045
)
 
(5,644
)
Effect of foreign currency rate changes
(9,246
)
 
16,275

Fair value of plan assets at end of year
$
186,964

 
$
206,570

Funded status of the plan
$
15,467

 
$
7,453

Net actuarial pension loss
$
74,604

 
$
77,567
Schedule of Defined Benefit Plan Amounts Recognized in Accumulated Other Comprehensive Income
The following table presents the changes in plan assets and projected benefit obligation recognized in accumulated other comprehensive income.

 
Years Ended December 31,
(dollars in thousands)
2018
 
2017
 
2016
Net actuarial gain (loss)
$
—

 
$
3,728

 
$
(25,243
)
Amortization of net actuarial loss
2,963

 
3,815

 
1,951

Tax benefit (expense)
(622
)
 
(1,284
)
 
4,192

Total other comprehensive income (loss)
$
2,341

 
$
6,259

 
$
(19,100
)
Schedule Of Net Periodic Benefit Income And Weighted Average Assumptions
The following table summarizes the components of net periodic benefit income (loss) and the weighted average assumptions for the Terra Nova Pension Plan.

 
Years Ended December 31,
(dollars in thousands)
2018
 
2017
 
2016
Components of net periodic benefit income (loss):
 
 
 
 
 
Interest cost
$
4,815

 
$
5,016

 
$
6,113

Expected return on plan assets
(8,782
)
 
(8,189
)
 
(9,124
)
Amortization of net actuarial pension loss
2,963

 
3,815

 
1,951

Net periodic benefit income (loss)
$
(1,004
)
 
$
642

 
$
(1,060
)
Weighted average assumptions as of December 31:
 
 
 
 
 
Discount rate
3.0
%
 
2.6
%
 
2.7
%
Expected return on plan assets
4.5
%
 
4.5
%
 
4.5
%
Rate of compensation increase
3.0
%
 
3.0
%
 
3.0
%
Summary Of Fair Value Of Plan Assets
The following table summarizes the fair value of plan assets as of December 31, 2018 and 2017.

 
December 31,
(dollars in thousands)
2018
 
2017
Plan assets:
 
 
 
Fixed maturity index funds
$
102,047

 
$
110,936

Equity security index funds
84,909

 
95,452

Cash and cash equivalents
8

 
182

Total
$
186,964

 
$
206,570