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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2013
EMPLOYEE BENEFIT PLANS  
Schedule of changes in benefit obligations, plan assets, funded status of the plan and assumptions used to determine benefit information

 

 

 
  Pension Benefits  
 
  2013   2012  
 
  (in thousands)
 

Change in benefit obligations:

             

Benefit obligations at beginning of year

  $ 72,824   $ 66,645  

Service cost

         

Interest cost

    2,880     3,189  

Actuarial (gain) loss

    (5,193 )   7,218  

Benefits paid

    (4,420 )   (4,228 )
           

Benefit obligations at end of year

    66,091     72,824  
           

Change in plan assets:

             

Fair value of plan assets at beginning of year

    42,518     39,053  

Actual return on plan assets

    4,691     5,336  

Employer contributions

    2,389     2,357  

Benefits paid

    (4,420 )   (4,228 )
           

Fair value of plan assets at end of year

    45,178     42,518  
           

Funded status

  $ (20,913 ) $ (30,306 )
           
           

Accumulated Benefit Obligations

  $ 66,091   $ 72,824  
           
           

Weighted average assumption used to determine benefit obligations at December 31:

             

Discount rate

     4.68% - 4.92%      3.87% - 4.16%  

Expected long-term return on plan assets

    7.00%     7.50%  

Rate of compensation increase

    n/a     n/a  
Schedule of amounts recognized for pension benefits in consolidated balance sheets

 

 

 
  2013   2012  
 
  (in thousands)
 

Current Liability

  $ 306   $ 306  

Noncurrent Liability

    20,607     30,000  
           

Net amounts recognized

  $ 20,913   $ 30,306  
           
           
Schedule of amounts recognized for pension benefits in accumulated other comprehensive loss

 

 

 
  2013   2012  
 
  (in thousands)
 

Net loss

  $ 19,692   $ 27,579  
           

Net amounts recognized

  $ 19,692   $ 27,579  
           
           
Components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss)

 

 

 
  Pension Benefits  
 
  2013   2012  
 
  (in thousands)
 

Pension and other benefits:

             

Interest cost

  $ 2,880   $ 3,189  

Expected return on plan assets

    (2,906 )   (2,864 )

Recognized net actuarial loss

    914     739  
           

Net expense

  $ 888   $ 1,064  
           
           

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):

             

Net loss

  $ (6,973 ) $ 4,749  

Recognized loss

    (914 )   (739 )
           

Total recognized (gain) loss in other comprehensive income (loss)

  $ (7,887 ) $ 4,010  
           
           
Schedule of weighted average assumptions used to determine net periodic cost


 

 
  2013   2012

Weighted average assumptions used to determine net periodic cost:

       

Pension benefits:

       

Discount rate

  3.87% - 4.16%   4.79% - 4.98%

Expected long-term return on plan assets

  7.00%   7.50%

Rate of compensation increase

  n/a   n/a
Schedule of fair value of pension plan assets

 

 

 
  2013 Fair Value Measurements (in thousands)  
 
  Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
  Significant Other
Observable
Inputs (Level 2)
  Total  

AHGT Pooled equity funds

  $   $ 25,061   $ 25,061  

AHGT Pooled fixed income funds

        19,160     19,160  

Cash management funds

        957     957  
               

 

  $   $ 45,178   $ 45,178  
               
               


 

 
  2012 Fair Value Measurements (in thousands)  
 
  Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
  Significant Other
Observable
Inputs (Level 2)
  Total  

AHGT Pooled equity funds

  $   $ 23,706   $ 23,706  

AHGT Pooled fixed income funds

        17,671     17,671  

Cash management funds

        1,141     1,141  
               

 

  $   $ 42,518   $ 42,518  
               
               
Schedule of estimated future benefit payments

Estimated future benefit payments are as follows (in thousands):

2014

  $ 4,465  

2015

    4,430  

2016

    4,433  

2017

    4,463  

2018

    4,498  

2019 - 2023

    22,493