Pension, Savings and Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2013

Pension, savings and postretirement benefits

Schedule of disclosures related to the pension plans and the postretirement health care coverage

							Postretirement
	Pension Plans						Healthcare Coverage
	2013			2012			2013			2012
Projected benefit obligation (“PBO”) at beginning of year	$	29,168		$	25,590		$	14,091		$	12,524
New Colt plans PBO at Merger Date	9,131			—			8,077			—
Service cost	315			455			549			256
Interest cost	1,296			1,141			658			527
Plan amendments	—			951			—			—
Actuarial (gain) loss	(2,175		)	1,766			(1,583		)	1,286
Benefits paid and expenses	(1,540		)	(735		)	(717		)	(502		)
Projected benefit obligation at end of year	36,195			29,168			21,075			14,091
Fair value of plan assets at beginning of year	22,372			19,609			—			—
Fair value of plan assets at Merger Date	7,841			—			—			—
Employer contributions	1,740			1,500			717			502
Actual return on plan assets	4,102			1,998			—			—
Benefits paid and expenses	(1,540		)	(735		)	(717		)	(502		)
Fair value of plan assets at end of year	34,515			22,372			—			—
Funded status at end of year	$	(1,680	)	$	(6,796	)	$	(21,075	)	$	(14,091	)

Schedule of the components of the unfunded benefit obligations of the hourly and salaried defined benefit plans

	2013								2012
	Hourly			Salaried					Hourly			Salaried
	Plans			Plans		Total			Plan			Plan			Total
Projected benefit obligation	$	26,328		$	9,867	$	36,195		$	20,474		$	8,694		$	29,168
Fair value of plan assets	24,607			9,908		34,515			15,602			6,770			22,372
Funded status	$	(1,721	)	$	41	$	(1,680	)	$	(4,872	)	$	(1,924	)	$	(6,796	)

Schedule of the components of cost recognized in other comprehensive loss

				Post
	Pension			Retirement
	Plans			Health			Total
Balance at December 31, 2011	$	(13,095	)	$	(2,250	)	$	(15,345	)
Recognized in other comprehensive loss	22			(1,251		)	(1,229		)
Balance at December 31, 2012	(13,073		)	(3,501		)	(16,574		)
Recognized in other comprehensive loss	4,736			1,655			6,391
Balance at December 31, 2013	$	(8,337	)	$	(1,846	)	$	(10,183	)

Schedule of the estimated amount that will be amortized from accumulated other comprehensive loss into net periodic cost in 2014

			Post
	Pension		Retirement
	Plans		Health
Prior service cost/(gain)	$	—	$	(172	)
Actuarial loss	264		97
Total	$	264	$	(75	)

Schedule of weighted average assumptions used in determining the year-end benefit obligation

	Hourly				Salaried				Postretirement
	Pension Plans (a)(b)				Pension Plans (a)(c)				Healthcare
	2013		2012		2013		2012		2013		2012
Discount rate	4.50	%	3.75	%	4.75	%	4.00	%	4.50	%	3.50	%
Expected return on plan assets	7.00	%	7.50	%	7.00	%	7.50	%	N/A		N/A

(a) After the Merger in 2013, and through December 31, 2013, there were two hourly pension plans and two salaried pension plans.

(b) Effective January 1, 2014, the Colt Defense LLC Bargaining Unit Employees’ Pension Plan merged with the Colt’s Manufacturing Company LLC Bargaining Unit Employees’ Pension Plan. The merged plan retained the name of “Colt’s Manufacturing Company LLC Bargaining Unit Employees’ Pension Plan.”

(c) Effective January 1, 2014, the Colt Defense LLC Salaried Retirement Income Plan merged with the Colt’s Manufacturing Company LLC Salaried Retirement Income Plan. The merged plan was renamed “Colt Retirement Defined Benefit Plan.”

Schedule of weighted average assumptions used to determine net periodic cost

	Hourly Pension Plans (a)						Salaried Pension Plans (a)
	2013		2012		2011		2013		2012		2011
Discount rate	3.75	%	4.25	%	5.50	%	4.00	%	4.50	%	5.50	%
Expected return on plan assets	7.50	%	8.00	%	8.00	%	7.50	%	8.00	%	8.00	%

	Postretirement Health
	2013		2012		2011
Discount rate	3.50	%	4.25	%	5.50	%
Expected return on plan assets	N/A		N/A		N/A

(a) After the Merger in 2013, and through December 31, 2013, there were two hourly pension plans and two salaried pension plans.

Schedule of allocation by asset category

	Fair Value Measurements at
	December 31, 2013
			Allocation
	Total		Percent		Level 1		Level 2		Level 3
Equity mutual funds	$	19,903	58	%	$	19,903	$	—	$	—
Fixed income mutual funds	9,431		27	%	9,431		—		—
Money market funds	446		1	%	446		—		—
Stable value	4,735		14	%	—		4,735		—
	$	34,515	100	%	$	29,780	$	4,735	$	—

	Fair Value Measurements at
	December 31, 2012
			Allocation
	Total		Percent		Level 1		Level 2		Level 3
Equity mutual funds	$	11,344	51	%	$	11,344	$	—	$	—
Fixed income mutual funds	7,193		32	%	7,193		—		—
Money market funds	644		3	%	644		—		—
Stable value	3,191		14	%	—		3,191		—
	$	22,372	100	%	$	19,181	$	3,191	$	—

Schedule of benefit payments, which reflect future service as appropriate, which are expected to be paid

			Post
	Pension		Retirement
Years ending	Plans		Health
2014	$	1,931	$	1,085
2015	1,937		1,147
2016	1,994		1,208
2017	2,039		1,264
2018	2,077		1,310
2019-2023	11,164		7,031

Pension plans

Pension, savings and postretirement benefits

Schedule of the components of cost recognized in the statement of operations

	December 31,
	2013			2012			2011
Service cost	$	549		$	256		$	179
Interest cost	658			527			573
Amortization of unrecognized prior service costs	(172		)	(172		)	(172		)
Amortization of unrecognized loss	244			208			70
Net periodic cost	$	1,279		$	819		$	650

Postretirement Healthcare Coverage

Pension, savings and postretirement benefits

Schedule of the components of cost recognized in the statement of operations

	December 31,
	2013			2012			2011
Service cost	$	315		$	455		$	287
Interest cost	1,296			1,141			1,090
Expected return on assets	(1,970		)	(1,641		)	(1,549		)
Curtailment of hourly plan	—			1,325			—
Amortization of unrecognized prior service costs	—			244			170
Amortization of unrecognized loss	429			813			495
Net periodic cost	$	70		$	2,337		$	493