Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2014

Retirement Plans

Schedule of projected benefit obligation

        Following is the plan's projected benefit obligation for the years ended December 31, 2014 and 2013. (amounts in thousands):

	2014			2013
Projected benefit obligation:
Balance, beginning of the year	$	2,114		$	2,127
Service cost		82			83
Interest cost		105			84
Actuarial gain (loss)		457			(157	)
Benefits paid to participants		(76	)		(23	)
Balance, end of year	$	2,682		$	2,114

Schedule of funded status of the plan

        At December 31, 2014, 2013 and 2012, the funded status of the plan was as follows (amounts in thousands):

	2014			2013			2012
Excess of benefit obligation over the value of plan assets	$	(2,682	)	$	(2,114	)	$	(2,127	)
Unrecognized net actuarial loss		904			473			666
Unrecognized prior service cost		86			103			122
Accrued benefit cost	$	(1,692	)	$	(1,538	)	$	(1,339	)

Schedule of amounts recognized in the consolidated balance sheets

        At December 31, 2014 and 2013, the amounts recognized in the consolidated balance sheets were classified as follows (amounts in thousands):

	2014			2013
Accrued benefit cost	$	(2,682	)	$	(2,114	)
Accumulated other comprehensive loss		990			576
Net amount recognized	$	(1,692	)	$	(1,538	)

Schedule of benefits expected to be paid in each of the next five years and thereafter

        The benefits expected to be paid in each of the next five years and thereafter are as follows (amounts in thousands):

Years Ending December 31,	Amount
2015	$	52
2016		106
2017		125
2018		216
2019 through 2024		998
	$	1,497

Schedule of weighted-average rates used

        For the years ended December 31, 2014 and 2013, the following weighted-average rates were used:

	2014			2013
Discount rate on the benefit obligation		3.80	%		4.95	%
Rate of employee compensation increase		4.00	%		4.00	%

Schedule of pension expenses

        Pension expense for the years ended December 31, 2014, 2013 and 2012, consists of the following (amounts in thousands):

	2014		2013		2012
Service cost	$	82	$	83	$	60
Interest cost		105		84		90
Expected return on plan assets		—		—		—
Recognized actuarial loss (gain)		—		—		—
Amortization of prior service cost		17		19		21
Net loss amortization		27		36		21
	$	231	$	222	$	192

Schedule of further information about the Plan

        Further information about the Plan is presented in the table below (amounts in thousands):

		Pension Protection Act Zone Status	Funding Improvement Plan/Rehabilitation Plan	WAPA's Contribution							Expiration Date of Collective Bargaining Agreements
										Surcharge Imposed
Pension Fund	EIN	2013	Status	2014		2013		2012
TNGIPP (Plan No. 001)	52-1082662	Red	Implemented	$	144	$	144	$	113	Yes	July 21, 2015 June 27, 2016