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Pension plan and 401(k) Program Pension plan and 401(k) Program (Tables)
12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Schedule of Net Funded Status
The following table sets forth a summary of the defined benefit pension plan funded status:
Consolidated Financial Statement Position:
($ in thousands)
 
December 31,
 
2018

2017

Fair value of plan assets
$
23,610

$
24,281

Less: Benefit obligation
30,772

30,185

Funded status - Benefit obligation in excess of plan assets
$
(7,162
)
$
(5,904
)
Schedule of Changes in Projected Benefit Obligations
The following table sets forth the change in benefit obligation:
Change in benefit obligation:
($ in thousands)
 
2018

2017

Benefit obligation, beginning of year
$
30,185

$
32,594

Service cost
2,166

1,982

Interest cost
197

253

Actuarial losses (gains)
771

(1,129
)
Benefits paid
(2,446
)
(4,767
)
Translation adjustments and other
(101
)
1,252

Benefit obligation, end of year
$
30,772

$
30,185

Schedule of Changes in Fair Value of Plan Assets
The following table sets forth the change in plan assets:
Change in plan assets:
($ in thousands)
 
2018

2017

Fair value of plan assets, beginning of year
$
24,281

$
24,906

Actual return on plan assets
(409
)
1,245

Participant contributions
753

646

Employer contributions
1,503

1,292

Benefits paid
(2,446
)
(4,767
)
Translation adjustments and other
(72
)
959

Fair value of plan assets, end of year
$
23,610

$
24,281


Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table sets forth the changes in items not yet recognized as a component of net periodic cost:
Changes in Unrecognized pension cost, pre-tax
($ in thousands)
 
2018

2017

Unrecognized pension cost, pre-tax, beginning of year
$
(2,561
)
$
(4,546
)
Amortization during year
(19
)
120

Actuarial (losses) gains
(771
)
1,129

Asset (losses) gains
(1,140
)
472

Translation adjustments and other
$
12

$
264

Unrecognized pension cost, pre-tax, end of year
$
(4,479
)
$
(2,561
)

The following table sets forth the estimated amounts that will be amortized from accumulated other comprehensive (loss) into net periodic benefit cost in 2019:
Estimated amortization from Other Comprehensive Income into net periodic benefit cost in 2019:
($ in thousands)

Amortization of actuarial (losses)
$
(197
)
Amortization of prior service credit
19

Estimated net (loss)
$
(178
)
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The following table sets forth the aggregated information for the pension plan:
 
($ in thousands)
 
December 31,
 
2018

2017

Projected benefit obligation
$
30,772

$
30,185

Accumulated benefit obligation
30,583

29,985

Fair value of plan assets
$
23,610

$
24,281

Schedule of Net Benefit Costs
The following table sets forth the components of net periodic cost for our pension plan:
Components of net periodic benefit cost
($ in thousands)
 
2018

2017

2016

Service cost
$
2,166

$
1,982

$
2,087

Interest cost
197

253

238

Expected return on plan assets
(731
)
(773
)
(741
)
Amortization of:
 
 
 
Prior service cost (benefit)
(19
)
(19
)

Net actuarial loss

139

212

Participant contributions
(753
)
(625
)
(598
)
Net periodic benefit cost
$
860

$
957

$
1,198

Schedule of Assumptions Used
The following tables set forth the key assumptions used to determine the net periodic cost for each fiscal year and the benefit obligation at fiscal year-end:

Key assumptions used to determine the net periodic cost:
2018

2017

2016

Discount rate
0.80
%
0.65
%
0.75
%
Expected rate of return on plan assets
3.00
%
3.00
%
3.00
%
Rate of increase in compensation levels
0.75
%
0.75
%
0.75
%

Key assumptions used to determine the benefit obligation:
2018

2017

Discount rate
0.80
%
0.65
%
Rate of increase in compensation levels
0.75
%
0.75
%
Schedule of Allocation of Plan Assets
The following table sets forth the asset allocation of our pension plan assets, by category:
Plan assets by category:
December 31,
 
2018

2017

Debt securities
37.9
%
34.0
%
Equity securities
33.2
%
32.4
%
Real estate
15.4
%
4.3
%
Other
12.9
%
27.3
%
Cash and cash equivalents
0.6
%
2.0
%
Total Plan Assets
100.0
%
100.0
%
Schedule of Expected Benefit Payments
The following table sets forth the Company's estimated future benefit payments:
Year
($ in thousands)

2019
$
1,477

2020
1,451

2021
1,316

2022
1,328

2023
1,278

Years 2024 - 2028
$
7,317