XML 44 R89.htm IDEA: XBRL DOCUMENT v2.4.1.9
EMPLOYEE BENEFIT PLANS (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2015
Dec. 31, 2014
EMPLOYEE BENEFIT PLANS    
Net periodic benefit cost recognized for the plans

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

(In thousands)

 

March 31,
2015

 

March 31,
2014

 

March 31,
2015

 

March 31,
2014

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

 

$

 

$

2

 

$

9

 

Interest cost

 

 

1,069

 

 

1,152

 

 

7

 

 

53

 

Expected return on plan assets

 

 

(1,166

)

 

(1,307

)

 

 

 

 

Amortization of net (gain) loss

 

 

11

 

 

(259

)

 

(2,797

)

 

(87

)

Amortization of prior service credit

 

 

 

 

 

 

(2,888

)

 

(416

)

Curtailment gain

 

 

 

 

 

 

(11,867

)

 

 

Settlement (gain) loss

 

 

287

 

 

 

 

(575

)

 

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

Net periodic benefit cost (credit)

 

$

201

 

$

(414

)

$

(18,118

)

$

(441

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

(In thousands)

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

From
Inception
August 31,
2012
through
December 31,
2012

 

 

 

March 30,
2012
through
August 30,
2012

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

From
Inception
August 31,
2012
through
December 31,
2012

 

 

 

March 30,
2012
through
August 30,
2012

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

 

 

(Predecessor)

 

(Successor)

 

(Successor)

 

(Successor)

 

 

 

(Predecessor)

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

 

$

180

 

$

59

 

 

 

$

76

 

$

36

 

$

195

 

$

61

 

 

 

$

74

 

Interest cost

 

 

4,609

 

 

4,513

 

 

1,484

 

 

 

 

1,962

 

 

214

 

 

870

 

 

306

 

 

 

 

435

 

Expected return on plan assets

 

 

(5,230

)

 

(4,707

)

 

(1,442

)

 

 

 

(1,811

)

 

 

 

 

 

 

 

 

 

 

Amortization of net (gain) loss

 

 

(1,034

)

 

 

 

 

 

 

 

899

 

 

(348

)

 

(78

)

 

 

 

 

 

88

 

Amortization of prior service credit

 

 

 

 

 

 

 

 

 

 

 

 

(1,665

)

 

 

 

 

 

 

 

(448

)

Settlement

 

 

 

 

 

 

(15

)

 

 

 

 

 

 

 

 

 

 

 

 

 

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net periodic benefit cost (credit)

 

$

(1,655

)

$

(14

)

$

86

 

 

 

$

1,126

 

$

(1,763

)

$

987

 

$

367

 

 

 

$

149

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Summary of changes in other comprehensive income:  

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

(In thousands)

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

Net (gain) loss

 

$

21,641

 

$

(12,537

)

$

561

 

$

(1,271

)

Net prior service credit

 

 

 

 

 

 

 

 

(15,197

)

Amortization of net gain

 

 

1,034

 

 

 

 

348

 

 

78

 

Amortization of prior service credit

 

 

 

 

 

 

1,665

 

 

 

Allocated tax expense (benefit)

 

 

(8,843

)

 

8,442

 

 

(1,003

)

 

6,782

 

​  

​  

​  

​  

​  

​  

​  

​  

Total recognized in other comprehensive (income) loss

 

$

13,832

 

$

(4,095

)

$

1,571

 

$

(9,608

)

Net periodic benefit cost (credit)

 

 

(1,655

)

 

(14

)

 

(1,763

)

 

987

 

​  

​  

​  

​  

​  

​  

​  

​  

Total recognized in net periodic benefit cost (credit) and other comprehensive (income) loss

 

$

12,177

 

$

(4,109

)

$

(192

)

$

(8,621

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of plan's change in benefit obligations and plan assets and the accrued liability for benefit costs included in the Consolidated Balance Sheets  

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

(In thousands)

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

Change in benefit obligation:

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit obligation at beginning of period

 

$

98,883

 

$

109,718

 

$

5,718

 

$

22,765

 

Service cost

 

 

 

 

180

 

 

36

 

 

195

 

Interest cost

 

 

4,609

 

 

4,513

 

 

214

 

 

870

 

Plan participants' contributions

 

 

 

 

 

 

419

 

 

562

 

Actuarial (gain) loss

 

 

23,532

 

 

(10,022

)

 

561

 

 

(1,271

)

Plan amendment

 

 

 

 

 

 

 

 

(15,197

)

Benefits paid

 

 

(2,247

)

 

(5,408

)

 

(1,262

)

 

(2,206

)

Administrative expenses

 

 

(81

)

 

(98

)

 

 

 

 

Settlement paid

 

 

(7,166

)

 

 

 

 

 

 

Settlement gain

 

 

(3,575

)

 

 

 

 

 

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

Benefit obligation at end of period              

 

$

113,955

 

$

98,883

 

$

5,686

 

$

5,718

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

(In thousands)

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

Change in plan assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets at beginning of period

 

$

73,658

 

$

68,219

 

$

 

$

 

Actual return on plan assets gain

 

 

3,546

 

 

7,223

 

 

 

 

 

Employer contribution

 

 

2,714

 

 

3,722

 

 

843

 

 

1,644

 

Plan participants' contributions

 

 

 

 

 

 

419

 

 

562

 

Benefits paid

 

 

(2,247

)

 

(5,408

)

 

(1,262

)

 

(2,206

)

Administrative expense

 

 

(81

)

 

(98

)

 

 

 

 

Settlement paid

 

 

(7,166

)

 

 

 

 

 

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

Fair value of plan assets at end of period

 

$

70,424

 

$

73,658

 

$

 

$

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net liability for benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

Funded status

 

$

(43,531

)

$

(25,225

)

$

(5,686

)

$

(5,718

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

(In thousands)

 

December 31,
2014

 

December 31,
2013

 

December 31,
2014

 

December 31,
2013

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

Amounts recognized in the Balance Sheet:

 

 

 

 

 

 

 

 

 

 

 

 

 

Accrued expenses and other liabilities

 

$

(152

)

$

(154

)

$

(629

)

$

(612

)

Other long-term liabilities

 

 

(43,379

)

 

(25,071

)

 

(5,057

)

 

(5,106

)

​  

​  

​  

​  

​  

​  

​  

​  

Net liability recognized

 

$

(43,531

)

$

(25,225

)

$

(5,686

)

$

(5,718

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Aggregate accumulated benefit obligation

 

$

(113,955

)

$

(98,883

)

$

(5,686

)

$

(5,718

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Summary of pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets  

                                                                                                                                                                                    

 

 

Pension Benefits

 

(In thousands)

 

December 31,
2014

 

December 31,
2013

 

 

 

(Successor)

 

(Successor)

 

Aggregated accumulated benefit obligation

 

$

(113,955

)

$

(98,883

)

Aggregated projected benefit obligation

 

 

(113,955

)

 

(98,883

)

Aggregated fair value of plan assets

 

 

70,424

 

 

73,658

 

 

Schedule of components of amounts recognized in accumulated other comprehensive income  

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

(In thousands)

 

December 31,
2014

 

December 31,
2013

 

December 31,
2014

 

December 31,
2013

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

Net actuarial (gain) loss

 

$

21,641

 

$

(12,537

)

$

561

 

$

(1,271

)

Prior service credit

 

 

 

 

 

 

 

 

(15,197

)

 

Schedule of amounts in accumulated other comprehensive income expected to be recognized in components of net periodic pension cost  

                                                                                                                                                                                    

(In thousands)

 

Pension
Benefits

 

Other
Benefits

 

Net actuarial (gain) loss

 

$

45

 

$

(284

)

Net prior service credit

 

 

 

 

(1,665

)

 

Schedule of weighted-average assumptions used to determine benefit obligations  

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

 

 

December 31,
2014

 

December 31,
2013

 

December 31,
2014

 

December 31,
2013

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

Discount rate

 

 

3.80 

%

 

4.73 

%

 

3.37 

%

 

4.00 

%

Rate of compensation increase

 

 

N/A

 

 

N/A

 

 

N/A

 

 

N/A

 

 

Schedule of weighted-average assumptions used to determine net periodic benefit cost  

                                                                                                                                                                                    

 

 

Pension Benefits

 

Other Benefits

 

 

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

From Inception
August 31,
2012 through
December 31,
2012

 

 

 

March 30,
2012
through
August 30,
2012

 

12 Months
Ended
December 31,
2014

 

12 Months
Ended
December 31,
2013

 

From Inception
August 31,
2012 through
December 31,
2012

 

 

 

March 30,
2012
through
August 30,
2012

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

 

 

(Predecessor)

 

(Successor)

 

(Successor)

 

(Successor)

 

 

 

(Predecessor)

 

Discount rate

 

 

4.73 

%

 

4.17 

%

 

3.99 

%

 

 

 

4.86 

%

 

4.00 

%

 

3.90 

%

 

3.65 

%

 

 

 

4.42 

%

Weighted average expected long-term return on plan assets

 

 

7.81 

%

 

7.27 

%

 

7.27 

%

 

 

 

7.27 

%

 

N/A

 

 

N/A

 

 

N/A

 

 

 

 

N/A

 

Rate of compensation increase

 

 

N/A

 

 

N/A

 

 

N/A

 

 

 

 

N/A

 

 

N/A

 

 

N/A

 

 

N/A

 

 

 

 

N/A

 

 

Schedule of benefits expected to be paid  

                                                                                                                                                                                    

(In thousands)

 

Pension Benefits

 

Other Benefits

 

2015

 

$

2,583 

 

$

639 

 

2016

 

 

2,720 

 

 

633 

 

2017

 

 

3,973 

 

 

614 

 

2018

 

 

3,664 

 

 

545 

 

2019

 

 

4,493 

 

 

490 

 

Years 2020-2024

 

 

29,648 

 

 

1,745 

 

 

Schedule of target allocations for plan assets  

                                                                                                                                                                                    

Asset Category

 

Target
Allocation

 

Fixed(1)

 

 

15 

%

Equity Securities—U.S. 

 

 

26 

%

Equity Securities—International

 

 

14 

%

Collective trust fund

 

 

25 

%

Private Real Estate

 

 

15 

%

Commodities broad basket

 

 

%  

​  

​  

 

 

 

100 

%  

​  

​  

​  

​  

​  


(1)

Includes U.S. Treasury Securities and Bond market fund.

 

Schedule of fair value of the pension plan assets  

                                                                                                                                                                                    

 

 

 

 

Fair Value Measurements at December 31, 2014 Using

 

 

 

Total Carrying
Value at
December 31,
2014

 

(In thousands)

 

Quoted prices
in active market
(Level 1)

 

Significant other
observable inputs
(Level 2)

 

Significant
unobservable inputs
(Level 3)

 

Cash and cash equivalents

 

$

300 

 

$

300 

 

$

 

$

 

U.S. treasury securities

 

 

1,615 

 

 

1,615 

 

 

 

 

 

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. companies

 

 

18,513 

 

 

18,513 

 

 

 

 

 

International companies

 

 

10,109 

 

 

10,109 

 

 

 

 

 

Bond market fund

 

 

9,173 

 

 

9,173 

 

 

 

 

 

Collective trust fund

 

 

17,485 

 

 

 

 

17,485 

 

 

 

Commodities broad basket fund

 

 

2,918 

 

 

2,918 

 

 

 

 

 

Private real estate

 

 

10,311 

 

 

 

 

10,311 

 

 

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

Total assets at fair value

 

$

70,424 

 

$

42,628 

 

$

27,796 

 

$

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

        The fair value of the pension plan assets at December 31, 2013, by asset class is as follows:

                                                                                                                                                                                    

 

 

 

 

Fair Value Measurements at December 31, 2013 Using

 

 

 

Total Carrying
Value at
December 31,
2013

 

(In thousands)

 

Quoted prices
in active market
(Level 1)

 

Significant other
observable inputs
(Level 2)

 

Significant
unobservable inputs
(Level 3)

 

Cash and cash equivalents

 

$

265 

 

$

265 

 

$

 

$

 

U.S. treasury securities

 

 

1,557 

 

 

1,557 

 

 

 

 

 

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. companies

 

 

19,654 

 

 

19,654 

 

 

 

 

 

International companies

 

 

11,281 

 

 

11,281 

 

 

 

 

 

Bond market fund

 

 

9,655 

 

 

9,655 

 

 

 

 

 

Collective trust fund

 

 

17,958 

 

 

 

 

17,958 

 

 

 

Commodities broad basket fund

 

 

3,459 

 

 

3,459 

 

 

 

 

 

Private real estate

 

 

9,829 

 

 

 

 

9,829 

 

 

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

Total assets at fair value

 

$

73,658 

 

$

45,871 

 

$

27,787 

 

$

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​