XML 59 R41.htm IDEA: XBRL DOCUMENT v3.8.0.1
Pension Plan and 401(k) Plan (Tables)
 12 Months Ended
Dec. 31, 2017
Pension Plan and 401(k) Plan [Abstract]  
Schedule of Net Funded Status
Information pertaining to the activity in the plan, using a measurement date of December 31, is as follows:

  
Years ended December 31,
 
  
2017
  
2016
 
  
(in thousands)
 
Change in benefit obligation
      
Benefit obligation at beginning of year
 
$
7,062
  
$
7,039
 
Service cost
  
-
   
-
 
Interest cost
  
268
   
279
 
Benefits paid
  
(6,977
)
  
(461
)
Actuarial (gain) loss
  
(353
)
  
205
 
Benefit obligation at end of year
 
$
-
  
$
7,062
 
         
Change in plan assets
        
Fair value of plan assets at beginning of year
 
$
5,499
  
$
5,691
 
Actual return on plan assets
  
(76
)
  
269
 
Employer contribution
  
1,554
   
-
 
Benefits paid
  
(6,977
)
  
(461
)
Fair value of plan assets at end of year
 
$
-
  
$
5,499
 
         
Funded Status at end of year
 
$
-
  
$
(1,563
)
Schedule of Amounts Recognized in Consolidated Balance Sheet and Other Comprehensive Income
  
December 31,
 
  
2017
  
2016
 
  
(in thousands)
 
Amounts recognized in the consolidated balance sheets
      
Accrued pension liability
 
$
-
  
$
(1,563
)
         
Amounts recognized in accumulated other comprehensive (income) loss
        
Loss
 
$
-
  
$
3,741
 
Deferred taxes
  
-
   
(1,272
)
Net loss
 
$
-
  
$
2,469
 
         
Accumulated benefit obligation
 
$
-
  
$
7,062
 
Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost
Assumptions used to determine the benefit obligations at December 31,
 
2017
  
2016
 
Discount rate
  
0.00
%
  
3.86
%
 
  
During the years ending December 31,
 
Weighted-average assumptions used to determine net periodic pension cost
 
2017
  
2016
 
Discount rate
  
3.86
%
  
4.03
%
Expected long-term rate of return on plan assets
  
7.00
%
  
7.00
%
Schedule of Net Periodic Pension Cost and Other Amounts Recognized in Other Comprehensive Income
  
Years ended December 31,
 
  
2017
  
2016
  
2015
 
Components of net periodic pension cost
 
(in thousands)
    
Interest cost
 
$
268
  
$
279
  
$
260
 
Expected return on plan assets
  
(376
)
  
(391
)
  
(376
)
Amortization of unrecognized loss
  
490
   
504
   
390
 
Preliminary net periodic pension cost
  
382
   
392
   
274
 
Settlement/curtailment expense
  
3,350
   
-
   
-
 
Net periodic pension cost
 
$
3,732
  
$
392
  
$
274
 
             
Components of other amounts recognized in other comprehensive income (loss)
            
Net actuarial (gain) loss
 
$
99
  
$
327
  
$
627
 
Settlement loss
  
(3,350
)
  
-
     
Amortization of actuarial loss
  
(490
)
  
(504
)
  
(390
)
Total recognized in other comprehensive income (loss)
 
$
(3,741
)
 
$
(177
)
 
$
237
 
             
Total recognized in net periodic benefit cost and other comprehensive income (loss)
 
$
(9
)
 
$
215
  
$
511
 
Fair Value of Pension Plan Assets
The fair value of the pension plan assets by asset category were as follows at December 31, 2016:

Assets at Fair Value as of December 31, 2016
 
Asset Category
 
Level 1
  
Level 2
  
Level 3
  
Total
 
  
(in thousands)
 
Money market funds
 
$
2,839
  
$
-
  
$
-
  
$
2,839
 
Mutual funds
  
-
   
-
   
-
   
-
 
Common stock
  
1,129
   
-
   
-
   
1,129
 
Corporate bonds
  
-
   
1,472
   
-
   
1,472
 
Partnerships
  
-
   
59
   
-
   
59
 
Total assets at fair value
 
$
3,968
  
$
1,531
  
$
-
  
$
5,499