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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of changes in benefit obligations, fair value of plan assets, and funded status of plan
The changes in the benefit obligation, the changes in fair value of plan assets, and the funded status of the Company’s Pension and Post Retirement Medical Plans as of and for the years ended December 31, 2014 and 2013 were as follows:
 
 
 
Pension Plans
 
Post Retirement
Medical Plan
 
 
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
 
$
53,350

 
$
30,215

 
$
8,225

 
$
9,730

Service cost
 
19,407

 
14,794

 
1,099

 
726

Interest cost
 
2,404

 
992

 
520

 
334

Plan amendments
 
529

 
—

 
3,911

 
(860
)
Benefit payments
 
(2,634
)
 
(663
)
 
(215
)
 
(51
)
Actuarial loss (gain)
 
8,042

 
8,012

 
1,200

 
(1,654
)
Projected benefit obligation at end of year
 
$
81,098

 
$
53,350

 
$
14,740

 
$
8,225

Change in plan assets:
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
 
$
25,050

 
$
10,232

 
$
—

 
$
—

Actual return on plan assets
 
1,822

 
33

 
—

 
—

Benefits paid
 
(2,634
)
 
(663
)
 
(215
)
 
(51
)
Employer contributions
 
16,718

 
15,448

 
215

 
51

Fair value of plan assets at end of year
 
$
40,956

 
$
25,050

 
$
—

 
$
—

Reconciliation of funded status:
 
 
 
 
 
 
 
 
Fair value of plan assets at end of year
 
$
40,956

 
$
25,050

 
$
—

 
$
—

Less benefit obligations at end of year
 
81,098

 
53,350

 
14,740

 
8,225

Funded status at end of year
 
$
(40,142
)
 
$
(28,300
)
 
$
(14,740
)
 
$
(8,225
)
Schedule of expected benefit payments
Benefit payments, which reflect expected future services, that the Company expects to pay are as follows for the years ended December 31:
 
 
 
Pension Benefits
 
Post Retirement
Medical Plan
2015
 
$
8,982

 
$
436

2016
 
5,388

 
632

2017
 
7,562

 
925

2018
 
9,261

 
1,089

2019
 
9,827

 
1,358

Years 2020-2024
 
70,380

 
7,335
Schedule of net periodic benefit cost
The components of net periodic benefit cost were as follows for the years ended December 31, 2014, 2013 and 2012:
 
 
 
Pension Benefits
 
Post Retirement
Medical Plan
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Components of net period benefit cost:
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
$
19,407

 
$
14,794

 
$
11,437

 
$
1,099

 
$
726

 
$
633

Interest cost
 
2,404

 
992

 
502

 
520

 
334

 
395

Expected return on plan assets
 
(2,156
)
 
(550
)
 
(323
)
 
—

 
—

 
—

Amortization of prior service cost
 
39

 
11

 
11

 
258

 
—

 
—

Amortization of actuarial loss (gain)
 
1,033

 
421

 
30

 
(4
)
 
—

 
—

Net periodic benefit cost
 
$
20,727

 
$
15,668

 
$
11,657

 
$
1,873

 
$
1,060

 
$
1,028
Schedule of pre-tax amounts recognized in other comprehensive income (loss)
The pre-tax amounts recognized in other comprehensive income (loss) for the years ended December 31, 2014, 2013 and 2012 were as follows:
 
 
 
Pension Benefits
 
Post Retirement
Medical Plan
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Prior service costs (credits)
 
$
529

 
$
—

 
$
—

 
$
3,911

 
$
(860
)
 
$
—

Net actuarial loss (gain)
 
8,151

 
8,235

 
6,817

 
1,201

 
(1,654
)
 
(189
)
Amortization of losses and prior service cost
 
(1,072
)
 
(432
)
 
(41
)
 
(255
)
 
—

 
—

Total changes in other comprehensive loss (income)
 
$
7,608

 
$
7,803

 
$
6,776

 
$
4,857

 
$
(2,514
)
 
$
(189
)
Schedule of pre-tax amounts in accumulated other comprehensive loss not yet recognized as components of net periodic costs
The pre-tax amounts in accumulated other comprehensive loss as of December 31, 2014 and 2013 that have not yet been recognized as components of net periodic costs were as follows:
 
 
 
Pension Benefits
 
Post Retirement
Medical Plan
 
 
2014
 
2013
 
2014
 
2013
Prior service (costs) credits
 
$
(582
)
 
$
(92
)
 
$
(2,793
)
 
$
860

Net actuarial (loss) gain
 
(23,762
)
 
(16,419
)
 
(78
)
 
1,126

Total
 
$
(24,344
)
 
$
(16,511
)
 
$
(2,871
)
 
$
1,986
Schedule of pre-tax amounts in accumulated other comprehensive loss to be recognized over next fiscal year
The following pre-tax amounts included in accumulated other comprehensive loss as of December 31, 2014 are expected to be recognized as components of net period benefit cost during the year ended December 31, 2015:
 
 
 
Pension Benefits
 
Post Retirement
Medical Plan
Amortization of prior service costs (credits)
 
$
(53
)
 
$
(305
)
Amortization of net actuarial loss (gain)
 
(1,245
)
 
—

Total
 
$
(1,298
)
 
$
(305
)
Schedule of assumptions used
The weighted average assumptions used to determine the benefit obligations as of December 31, 2014 and 2013 were as follows:
 
 
 
Pension Benefits
 
Post Retirement Medical Plan
 
 
2014
 
2013
 
2014
 
2013
Discount rate
 
3.70
%
 
4.55
%
 
3.70
%
 
4.55
%
Rate of compensation increase
 
4.96
%
 
4.64
%
 
—

 
—

The weighted average assumptions used to determine the net periodic benefit costs for the years ended December 31, 2014, 2013 and 2012 were as follows:
 
 
 
Pension Benefits
 
Post Retirement Medical Plan
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate
 
4.55
%
 
3.45
%
 
4.45
%
 
4.55
%
 
3.45
%
 
4.45
%
Expected long-term rate of return on plan assets
 
6.70
%
 
3.50
%
 
4.25
%
 
—

 
—

 
—

Rate of compensation increase
 
4.64
%
 
4.00
%
 
4.00
%
 
—

 
—

 
—
Schedule of assumed health care cost trend rates
The assumed health care cost trend rates as of December 31, 2014 and 2013 were as follows:
 
 
 
Post Retirement
Medical Plan
 
 
2014
 
2013
Health care cost trend rate assumed for next year
 
6.7
%
 
6.8
%
Rate to which the cost trend rate was assumed to decline (the ultimate trend rate)
 
4.5
%
 
4.5
%
Year that the rate reached the ultimate trend rate
 
2027

 
2027
Schedule of effect of one-percentage-point change in assumed health care cost trend rates
Assumed health care costs trend rates have a significant effect on the amounts reported for retiree health care plans. A one percentage-point change in assumed health care costs trend rates would have the following effects on the medical postretirement benefits:
 
 
 
1%
Increase
 
1%
Decrease
Effect on total of service and interest cost components
 
$
205

 
$
(177
)
Effect on accumulated postretirement benefit obligation
 
1,411

 
(1,254
)
Schedule of fair value of assets of the Company's Qualified Plan
The tables below present the fair values of the assets of the Company’s Qualified Plan as of December 31, 2014 and 2013 by level of fair value hierarchy. Assets categorized in Level 1 of the hierarchy are measured at fair value using a market approach based on published net asset values of mutual funds. As noted above, the Company’s post retirement medical plan is funded on a pay-as-you-go basis and has no assets.
 
 
 
Fair Value Measurements Using
Quoted Prices in Active Markets
(Level 1)
 
 
December 31,
 
 
2014
 
2013
Equities:
 
 
 
 
Domestic equities
 
$
12,682

 
$
7,603

Developed international equities
 
5,600

 
3,685

Emerging market equities
 
2,629

 
1,775

Global low volatility equities
 
3,478

 
2,132

Fixed-income
 
16,517

 
9,855

Cash and cash equivalents
 
50

 
—

Total
 
$
40,956

 
$
25,050