XML 64 R44.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Employee Retirement Plans (Tables)
12 Months Ended
Dec. 31, 2019
Pension plan  
Employee retirement plans  
Schedule of reconciliation of the beginning and ending balances of the projected benefit obligation, fair value of plan assets, funded status of plans, and amounts recognized in the consolidated balance sheets.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31

​

​

2019

​

2018

​

​

​

​

​

​

​

Benefit obligation at beginning of year

​

$

40,182

​

$

43,664

Service cost

​

​

-

​

​

409

Interest cost

​

​

1,642

​

​

1,555

Actuarial (gain) loss

​

​

166

​

​

(3,296)

Benefits paid

​

​

(1,451)

​

​

(1,391)

Pension settlement

​

​

(40,539)

​

​

-

Curtailment

​

​

-

​

​

(759)

Benefit obligation at end of year

​

​

-

​

​

40,182

Fair value of plan assets at beginning of year

​

​

38,053

​

​

33,903

Actual return on plan assets

​

​

3,477

​

​

(1,506)

Employer contributions through December 31

​

​

460

​

​

7,047

Pension settlement

​

​

(40,539)

​

​

-

Benefits paid

​

​

(1,451)

​

​

(1,391)

Fair value of plan assets at end of year

​

​

-

​

​

38,053

Funded status at end of year

​

$

-

​

$

(2,129)

Schedule of components of net periodic pension or other postretirement benefit cost

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2019

​

​

2018

​

​

2017

Components of net periodic pension cost:

​

​

​

​

​

​

​

Service cost

​

$

-

​

$

409

​

$

356

Interest cost

​

​

1,642

​

​

1,555

​

​

1,613

Expected return on plan assets

​

​

(1,175)

​

​

(1,901)

​

​

(1,790)

Amortization of net loss

​

​

595

​

​

706

​

​

723

Effect of settlement for termination

​

​

6,380

​

​

-

​

​

-

Net periodic pension cost

​

$

7,442

​

$

769

​

$

902

Schedule of assumptions used in determining net periodic costs and summary of healthcare cost trend rates

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year ended December 31

​

​

2019

​

2018

​

​

2017

​

Discount rates

​

N/A

​

​

3.6

%

​

4.2

%

Rates of increase in compensation levels:

​

​

​

​

​

​

​

​

​

Salaried

​

N/A

​

​

3.5

​

​

3.5

​

Hourly

​

N/A

​

​

N/A

​

​

N/A

​

Expected long-term rate of return on assets

​

​

​

​

​

​

​

​

​

Salaried

​

N/A

​

​

5.8

​

​

6.5

​

Hourly

​

N/A

​

​

6.5

​

​

6.5

​

Schedule of weighted-average asset allocation and actual allocation for the qualified pension plans by asset category

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Target

​

​

2018

Large Cap Equity

​

5

%

​

$

-

​

0

%

Mid Cap Equity

​

0

%

​

​

-

​

0

%

Small Cap Equity

​

0

%

​

​

-

​

0

%

International Equity

​

2

%

​

​

-

​

0

%

Emerging Markets Equity

​

0

%

​

​

-

​

0

%

Fixed Income and Cash Equivalents

​

90

%

​

​

7,388

​

99

%

Real Estate

​

3

%

​

​

107

​

1

%

​

​

​

​

​

​

​

Total

​

100

%

​

$

7,495

​

100

%

Schedule of fair values of the Company's pension plan assets

​

The fair values of the Company’s pension plan assets as of December 31, 2018 are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance as of December 31, 2018

​

Quoted Prices in Active Markets for Identical Assets (Level 1)

​

Significant Other Observable Inputs (Level 2)

​

Significant Unobservable Inputs (Level 3)

Assets:

​

​

​

​

​

​

​

​

​

​

​

Fixed-income holdings

​

37,397

​

​

—

​

​

37,397

​

​

—

Alternative investments

​

656

​

​

—

​

​

—

​

​

656

​

​

​

​

​

​

​

​

Total pension plan assets

$

38,053

​

$

—

​

$

37,397

​

$

656

Schedule of reconciliation of the fair value measurements using significant unobservable inputs (Level 3)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31,

​

​

2019

​

​

2018

Balance, beginning of year

$

656

​

$

2,026

Deposits

​

-

​

​

213

Actual return on plan assets held at reporting date

​

30

​

​

136

Withdrawals and transfers

​

(686)

​

​

(1,719)

Balance, end of year

$

-

​

$

656

Salaried Pension Plan  
Employee retirement plans  
Schedule of weighted-average asset allocation and actual allocation for the qualified pension plans by asset category

​

​

​

​

​

​

​

​

​

​

​

​

Target

​

​

2018

Large Cap Equity

​

5

%

​

$

-

​

1

%

Mid Cap Equity

​

0

%

​

​

-

​

0

%

Small Cap Equity

​

0

%

​

​

-

​

0

%

International Equity

​

2

%

​

​

-

​

0

%

Emerging Markets Equity

​

0

%

​

​

-

​

0

%

Fixed Income and Cash Equivalents

​

90

%

​

​

30,009

​

98

%

Real Estate

​

3

%

​

​

549

​

2

%

​

​

​

​

​

​

​

Total

​

100

%

​

$

30,558

​

100

%

Other postretirement benefit cost  
Employee retirement plans  
Schedule of reconciliation of the beginning and ending balances of the projected benefit obligation, fair value of plan assets, funded status of plans, and amounts recognized in the consolidated balance sheets.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31

​

2019

​

2018

Change in projected benefit obligation:

​

​

​

​

​

Benefit obligation at beginning of year

$

6,420

​

$

6,949

Service cost

​

149

​

​

189

Interest cost

​

252

​

​

233

Participant contributions

​

38

​

​

25

Changes in actuarial assumptions

​

(266)

​

​

(926)

Benefits paid

​

(55)

​

​

(50)

Projected benefit obligation at end of year

$

6,538

​

$

6,420

Amounts recognized in the consolidated balance sheets consisted of:

​

​

​

​

​

Accrued expenses and other current liabilities

$

200

​

$

180

Retiree health benefit obligation

​

6,338

​

​

6,240

​

$

6,538

​

$

6,420

​

​

​

​

​

​

Schedule of components of net periodic pension or other postretirement benefit cost

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2019

​

​

2018

​

​

2017

Components of net postretirement health benefit cost:

​

​

​

​

​

​

Service cost

$

149

​

$

189

​

$

205

Interest cost

​

252

​

​

233

​

​

278

Amortization of net gain

​

(312)

​

​

(211)

​

​

(107)

Net postretirement healthcare benefit cost

$

89

​

$

211

​

$

376

Schedule of assumptions used in determining net periodic costs and summary of healthcare cost trend rates

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31

​

​

2019

​

2018

​

​

2017

​

Discount rate

​

4.0

%

​

3.4

%

​

3.8

%

Immediate healthcare cost trend rate

​

*

​

​

**

​

​

***

​

Ultimate healthcare cost trend rate

​

4.5

​

​

4.5

​

​

4.5

​

Assumed annual reduction in trend rate

​

*

​

​

**

​

​

***

​

Participation

​

60

​

​

60

​

​

60

​

*

Health Care Cost Trend rate is assumed to be 6.8%  beginning in 2019 gradually reducing to an ultimate rate of 4.5% in 2028.

**

Health Care Cost Trend rate is assumed to be 6.8%  beginning in 2018 gradually reducing to an ultimate rate of 4.5% in 2027.

***

Health Care Cost Trend rate is assumed to be 7.0%  beginning in 2017 gradually reducing to an ultimate rate of 4.5% in 2026.

Schedule of effect of one percentage point change in the healthcare cost trend rate

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1%

​

1%

​

Increase

​

Decrease

Effect on total service and interest cost

$

42

​

$

(36)

Effect on postretirement benefit obligation

​

672

​

​

(592)