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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Multiemployer Plans [Line Items]  
Summary Of Stock Option Activity
A summary of the Company’s stock option activity and related information is presented below: 
 
2017
2016
2015
 
Options
Weighted-Average Exercise Price
Options
Weighted-Average Exercise Price
Options
Weighted-Average Exercise Price
Outstanding at January 1
86,613

$
41.08

95,015

$
38.38

167,554

$
36.74

     Granted
17,631

66.32

24,348

43.73

12,961

46.41

     Exercised
(16,639
)
35.91

(32,750
)
35.28

(81,500
)
36.63

     Forfeited
—

—

—

—

(4,000
)
31.66

Outstanding at December 31
87,605

$
47.15

86,613

$
41.08

95,015

$
38.38

 
 
 
 
 
 
 
Exercisable at end of year
7,887

$
37.37

3,000

$
29.45

19,750

$
34.54

 
 
 
 
 
 
 
Nonvested at beginning of year
83,613

41.47

75,265

39.38

77,804

36.76

Granted during the year
17,631

66.32

24,348

43.73

12,961

46.41

Vested during the year
(21,526
)
37.31

(16,000
)
35.09

(15,500
)
32.09

Forfeited during the year
—

—

—

—

—

—

Nonvested at end of year
79,718

$
48.08

83,613

$
41.47

75,265

$
39.38



Information regarding stock option exercises and stock-based compensation expense associated with stock options is provided in the following table (in millions):
 
For the year ended December 31,
 
2017
2016
2015
Proceeds from stock option exercises
$
0.6

$
1.2

$
3.0

Intrinsic value of stock options exercised
0.5

0.6

0.9

 
 
 
 
Stock-based compensation expense associated with stock options
$
0.2

$
0.2

$
0.2

Income tax benefit recognized related to stock-based compensation
0.1

0.1

0.1

 
 
 
 
At period-end:
2017
 
 
Unrecognized stock-based compensation expense
$
0.4

 
 
Weighted average period in which the above amount is expected to be recognized
2.6

years
 
Stock Options Outstanding And Exercisable
Additional information regarding the Company's stock options outstanding and exercisable at December 31, 2017, is provided in the following table:  
Ranges of Exercise Prices
No. of Options Outstanding
Weighted-Average Exercise Price
Weighted-Average Remaining Contractual Life (Months)
Aggregate Intrinsic Value
(in thousands)
No. of Options Currently Exercisable
Weighted-Average Exercise Price of Options Currently Exercisable
Weighted-Average Remaining Contractual Life (Months)
Aggregate Intrinsic Value of Options Currently Exercisable 
(in thousands)
 $ 30.00 - 34.99
500

$
30.38

0.9
$
19

500

$
30.38

0.9

$
19

     35.00 - 39.99
20,854

37.13

4.9
633

5,379

35.39

4.2

173

     40.00 - 44.99
35,659

43.95

7.6
839

2,008

44.43

6.2

46

     45.00 - 49.99
12,961

46.61

7.2
270

—

—

—

—

     50.00 - 69.99
17,631

66.32

9.2
$
20

—

—

—

—

 
87,605

 
 
$
1,781

7,887

 
 
$
238
Weighted Average Assumptions Estimate The Fair Value Of Options Granted
The following weighted average assumptions were used to estimate the fair value of options granted by the Company:
 
Year ended December 31,
 
2017
2016
2015
 
 
 
 
Risk-free interest rate
2.12
%
1.43
%
1.95
%
Expected dividend yield
2.60
%
3.86
%
3.50
%
Volatility factor
25.80
%
30.76
%
45.40
%
Expected life of option
7.0 years

7.0 years

7.0 years
Restricted Shares Activity And Related Information
A summary of the Company’s restricted shares activity and related information is presented below:
 
 
2017
2016
2015
 
Restricted Awards
Average Market Price at Grant
Restricted Awards
Average Market Price at Grant
Restricted Awards
Average Market Price at Grant
 
 
 
 
 
 
 
Outstanding at January 1
180,622

 
172,921

 
163,431

 
     Granted
28,839

$
64.42

30,601

$
46.39

26,840

$
46.45

     Forfeited/Vested
(39,428
)
 
(22,900
)
 
(17,350
)
 
Outstanding at December 31
170,033

 
180,622

 
172,921

 
Summary Of Activity Within The Defined Benefit Plan
The following table summarizes activity within the Company's Defined Benefit Plans (dollars in thousands):

 
Pension Benefits
 
2017
2016
 
 
 
Change in fair value of plan assets:
 
 
Fair value at beginning of measurement period
$
17,117

$
17,435

Actual gain (loss) on plan assets
1,890

669

Contributions
—

—

Benefits paid
(2,647
)
(987
)
Fair value at end of measurement period
16,360

17,117

 
 
 
Change in benefit obligation:
 
 
Benefit obligation at beginning of measurement period
(19,742
)
(19,700
)
Interest cost
(772
)
(820
)
Actuarial (loss) gain
(392
)
(263
)
Assumption changes
(614
)
54

Benefits paid
2,647

987

Settlement loss
385

—

Benefit obligation at end of measurement period
(18,488
)
(19,742
)
 
 
 
Funded status
$
(2,128
)
$
(2,625
)
 
 
 
Weighted-average assumptions for benefit obligation:
 
 
Discount rate
3.38
%
4.01
%
Expected long-term rate of return
6.56
%
5.83
%
 
 
 
Weighted-average assumptions for net periodic pension cost:
 
 
Discount rate
4.02
%
4.26
%
Expected long-term rate of return
5.83
%
5.75
%
Net Periodic Pension Cost Of The Defined Benefit Plan
The following table presents the components of the net periodic pension cost of the Company's Defined Benefit Plans (in thousands):
 
2017
2016
2015
 
 
 
 
Components of net periodic benefit:
 
 
 
Interest cost
$
772

$
820

$
813

Expected return on plan assets
(1,219
)
(1,154
)
(937
)
Settlement
(104
)
—

—

Net amortization and deferral
849

849

960

Net Periodic Pension Cost
$
298

$
515

$
836
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Amounts related to the Company's Defined Benefit Pension Plans recognized as a component of other comprehensive income were as follows (in thousands):
 
2017
2016
2015
Net actuarial gain (loss)
$
838

$
157

$
935

Deferred tax (expense) benefit
(1,211
)
(58
)
(345
)
   Other comprehensive income (loss), net of tax
$
(373
)
$
99

$
590


Amounts recognized as a component of accumulated other comprehensive loss as of December 31, 2017 and 2016 were as follows (in thousands):
 
2017
2016
Net actuarial loss
$
6,560

$
7,399

Deferred tax benefit
(1,527
)
(2,739
)
   Amounts included in accumulated other comprehensive loss, net of tax
$
5,033

$
4,660
Summary Of Expected Benefit Payments
The following table summarizes the expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter (in thousands):
Plan Year Ending December 31,
Expected Benefits to be Paid
 
 
2018
$
1,057

2019
4,658

2020
931

2021
936

2022
938

2023 through 2026
4,721
Summary Of Assets Segregated By Level Of Valuation Inputs Within The Fair Value Hierarchy
The major categories of assets in the Company’s Defined Benefit Plans as of year-end are presented in the following table (in thousands).  Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (See Note Eighteen).

 
Total
Level 1
Level 2
Level 3
2017
 
 
 
 
Cash and cash equivalents
$
1,202

$
1,202

$
—

$
—

Mutual funds/Investment funds
5,421

5,206

215

—

Common stocks
5,575

3,763

1,812

—

Mortgage-backed securities
301

—

301

—

U.S. Treasuries
1,277

—

1,277

—

Corporate bonds
1,223

—

1,223

—

Alternative investments**
1,361

759

—

—

Total
$
16,360

$
10,930

$
4,828

$
—

 
 
 
 
 
2016
 
 
 
 
Cash and cash equivalents
$
2,101

$
2,101

$
—

$
—

Mutual funds/Investment funds
6,063

5,797

266

—

Common stocks
4,284

3,103

1,181

—

Mortgage-backed securities
514

—

514

—

U.S. Treasuries
971

—

971

—

Corporate bonds
1,597

—

1,597

—

Alternative investments**
1,587

972

—

—

Total
$
17,117

$
11,973

$
4,529

$
—

** Includes an investment of $602 and $615 at December 31, 2017 and 2016, respectively, that has not been categorized in the fair value hierarchy, as permitted by ASU No. 2015-07.
Horizon Defined Benefit Plan  
Multiemployer Plans [Line Items]  
Schedule of Allocation of Plan Assets
The target, allowable, and current allocation percentages of plan assets are as follows:
 
Target Allocation 2017
Allowable- Allocation Range
Percentage of Plan Assets
At December 31
 
2017
2016
 
 
 
 
 
Equity securities
60.0
%
35-88%
55
%
48
%
Fixed income securities
20.0
%
10-40%
23
%
25
%
Cash and cash equivalents
5.0
%
2-20%
9
%
15
%
Alternative investments
15.0
%
0-25%
13
%
12
%
Total
100.0
%
 
100
%
100
%
Community Defined Benefit Plan  
Multiemployer Plans [Line Items]  
Schedule of Allocation of Plan Assets
The target, allowable, and current allocation percentages of plan assets are as follows:

 
Target Allocation 2017
Allowable- Allocation Range
Percentage of Plan Assets
At December 31
 
2017
2016
 
 
 
 
 
Equity securities
40
%
29%-51%
39
%
41
%
Fixed income securities
60
%
49%-71%
61
%
59
%
 
100
%
 
100
%
100
%