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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2016
Compensation And Retirement Disclosure [Abstract]  
Summary of Components of Net Periodic Benefit Costs

A summary of the components of net periodic benefit costs follows (in thousands):

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

1,270

 

 

$

 

 

$

 

Interest cost

 

 

237

 

 

 

 

 

 

 

Amortizations:

 

 

 

 

 

 

 

 

 

 

 

 

Plan service cost (credit)

 

 

268

 

 

 

 

 

 

 

Net loss (gain)

 

 

12

 

 

 

 

 

 

 

Total net periodic benefit cost

 

$

1,787

 

 

$

 

 

$

 

 

Summary of Weighted-Average Assumptions Used

A summary of the weighted-average assumptions used by the Company to determine net periodic benefit costs follows:

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount rate

 

 

3.2

%

 

 

%

 

 

%

Rate of compensation increase

 

 

3.0

%

 

 

%

 

 

%

A summary of the weighted-average assumptions used by the Company to determine its benefit obligation follows:

 

 

December 31,

 

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

 

Discount rate

 

 

3.6

%

 

 

%

Rate of compensation increase

 

 

2.0

%

 

 

%

 

Summary of Changes Recognized in Other Comprehensive Income (Loss)

A summary of changes recognized in other comprehensive income (loss) follows (in thousands):

 

 

December 31,

 

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

 

Prior service cost (credit)

 

$

2,949

 

 

$

 

Net loss (gain) arising during period

 

 

14

 

 

 

 

Amounts recognized as a component of net periodic benefit cost:

 

 

 

 

 

 

 

 

Amortization or curtailment recognition of prior service (cost) credit

 

 

(264

)

 

 

 

Amortization or settlement recognition of net gain (loss)

 

 

(3

)

 

 

 

Total recognized in other comprehensive loss (income)

 

$

2,696

 

 

$

 

 

Summary of Changes in Benefit Obligation

A summary of changes in the benefit obligation follows (in thousands):

 

 

December 31,

 

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

 

Change in benefit obligation

 

 

 

 

 

 

 

 

Benefit obligation transferred from the Spin-off

 

$

5,964

 

 

$

 

Service cost

 

 

1,270

 

 

 

 

Interest cost

 

 

190

 

 

 

 

Plan amendments

 

 

2,921

 

 

 

 

Actuarial (gain) loss

 

 

(911

)

 

 

 

Benefit obligation at end of year

 

$

9,434

 

 

$

 

 

Summary of Expected Future Benefit Payments

A summary of expected future benefit payments for the next five years and the five years thereafter follows (in thousands):

2017

 

$

2,275

 

2018

 

 

 

2019

 

 

 

2020

 

 

 

2021

 

 

1,288

 

Five years thereafter

 

 

10,780

 

Total

 

$

14,343