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Retirement Plan (Tables)
 12 Months Ended
Dec. 31, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The following table sets forth the changes in the benefit obligation and plan assets of our post-retirement healthcare plans for the years ended December 31, 2016 and 2015:
 
 
Years Ended December 31,
 
 
2016
 
2015
 
 
(In thousands)
Change in plans' benefit obligation
 
 
 


Post-retirement plans' benefit obligation - beginning of year
 
$
21,201

 
$
23,633

Service cost
 
1,294

 
1,694

Interest cost
 
787

 
819

Participant contributions
 
244

 
593

Amendments
 
21

 
—

Benefits paid
 
(2,171
)
 
(2,260
)
Actuarial loss (gain)
 
(2,384
)
 
(3,278
)
Post-retirement plans' benefit obligation - end of year
 
$
18,992

 
$
21,201

 
 
 
 
 
Change in plan assets
 
 
 
 
Fair value of plan assets - beginning of year
 
$
—

 
$
—

Employer contributions
 
1,927

 
1,667

Participant contributions
 
244

 
593

Benefits paid
 
(2,171
)
 
(2,260
)
Fair value of plan assets - end of year
 
$
—

 
$
—

 
 
 
 
 
Funded status
 
 
 
 
Under-funded balance
 
$
(18,992
)
 
$
(21,201
)
 
 
 
 
 
Amounts recognized in consolidated balance sheets
 
 
 
 
Accrued post-retirement liability
 
$
(18,992
)
 
$
(21,201
)
 
 
 
 
 
Amounts recognized in accumulated other comprehensive income (loss)
 
 
 
 
Cumulative actuarial loss
 
$
771

 
$
(1,613
)
Prior service credit
 
32,434

 
35,937

Total
 
$
33,205

 
$
34,324
Weighted Average Assumptions Used

The weighted average assumptions used to determine end of period benefit obligations:
 
 
December 31,
 
 
2016
 
2015
 
 
 
 
 
Discount rate
 
3.75
%
 
3.90
%
Current health care trend rate
 
7.00
%
 
8.00
%
Ultimate health care trend rate
 
5.00
%
 
5.00
%
Year rate reaches ultimate trend rate
 
2030

 
2041
Net Periodic Pension Expense
Net periodic post-retirement credit consisted of the following components:
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
 
(In thousands)
Service cost – benefit earned during the year
 
$
1,294

 
$
1,694

 
$
895

Interest cost on projected benefit obligations
 
787

 
819

 
638

Amortization of prior service credit
 
(3,482
)
 
(3,482
)
 
(4,296
)
Amortization of net loss
 
—

 
183

 
—

Net periodic post-retirement credit
 
$
(1,401
)
 
$
(786
)
 
$
(2,763
)
Weighted Average Assumptions Used to Health Care Cost Trend Rates
Assumed health care cost trend rates have an effect on the amounts reported for the post-retirement health care benefit plans. The weighted average assumptions used to determine net periodic benefit expense follow:
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
 
 
 
 
 
 
Discount rate
 
3.90
%
 
3.60
%
 
4.25
%
Current health care trend rate
 
8.00
%
 
8.00
%
 
8.00
%
Ultimate health care trend rate
 
5.00
%
 
5.00
%
 
5.00
%
Year rate reaches ultimate trend rate
 
2041

 
2042

 
2045
Effect of One Percent Change in Health Care Cost Trend Rates
The effect of a 1% change in health care cost trend rates is as follows:
 
 
1% Point Increase
 
1% Point Decrease
 
 
(In thousands)
Service cost
 
$
187

 
$
(156
)
Interest cost
 
$
56

 
$
(49
)
Year-end accumulated post-retirement benefit obligation
 
$
1,286

 
$
(1,118
)