EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2015

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

NOTE 9—EMPLOYEE BENEFIT PLANS

        The Company sponsors frozen non-contributory qualified and non-qualified defined benefit pension plans generally covering all employees who, prior to the freeze, were age 21 or older and had completed at least 1,000 hours of service in their first twelve months of employment, or in a calendar year ending thereafter, and who were not covered by a collective bargaining agreement. The Company also offered eligible retirees the opportunity to participate in a health plan. Certain employees were eligible for subsidized postretirement medical benefits. The eligibility for these benefits was based upon a participant's age and service as of January 1, 2009. The Company also sponsors a postretirement deferred compensation plan.

        On January 12, 2015, the Compensation Committee and the Board of Directors of Holdings, adopted resolutions to terminate the AMC Postretirement Medical Plan with an effective date of March 31, 2015. During the three months ended March 31, 2015, the Company notified eligible associates that their retiree medical coverage under the plan will terminate after March 31, 2015. Payments to eligible associates were approximately $4,300,000 during the nine months ended September 30, 2015. The Company recorded net periodic benefit credits of $18,118,000, including curtailment gains, settlement gains, amortization of unrecognized prior service credits and amortization of actuarial gains recorded in accumulated other comprehensive income related to the termination and settlement of the plan during the nine months ended September 30, 2015.

        The net periodic benefit credit recognized for the plans in general and administrative: other during the three months ended September 30, 2015 and the three months ended September 30, 2014 consisted of the following:

	Pension Benefits						Other Benefits
(In thousands)	September 30, 2015			September 30, 2014			September 30, 2015		September 30, 2014
Components of net periodic benefit cost:
Service cost	$	—		$	—		$	—	$	9
Interest cost		1,069			1,153			—		54
Expected return on plan assets		(1,167	)		(1,308	)		—		—
Amortization of net (gain) loss		12			(259	)		—		(87	)
Amortization of prior service credit		—			—			—		(417	)
Net periodic benefit credit	$	(86	)	$	(414	)	$	—	$	(441	)

        The net periodic benefit cost (credit) recognized for the plans in general and administrative: other during the nine months ended September 30, 2015 and the nine months ended September 30, 2014 consisted of the following:

	Pension Benefits						Other Benefits
(In thousands)	September 30, 2015			September 30, 2014			September 30, 2015			September 30, 2014
Components of net periodic benefit cost:
Service cost	$	—		$	—		$	2		$	27
Interest cost		3,208			3,457			7			160
Expected return on plan assets		(3,500	)		(3,922	)		—			—
Amortization of net (gain) loss		34			(776	)		(2,797	)		(261	)
Amortization of prior service credit		—			—			(2,888	)		(1,249	)
Curtailment gain		—			—			(11,867	)		—
Settlement (gain) loss		287			—			(575	)		—
Net periodic benefit cost (credit)	$	29		$	(1,241	)	$	(18,118	)	$	(1,323	)