Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Obligation and funded status of the pension and postretirement benefit plans

Following are the details of the obligation and funded status of the pension and postretirement benefit plans:

(in thousands)	Pension Benefits						Postretirement Benefits
Change in benefit obligation	2014			2013			2014			2013
Benefit obligation at beginning of year	$	103,612		$	117,890		$	33,383		$	36,054
Service cost	180			—			687			841
Interest cost	4,774			4,227			1,511			1,366
Actuarial (gains) losses	29,059			(15,393		)	7,341			(4,359		)
Participant contributions	—			—			532			514
Retiree drug subsidy received	—			—			107			61
Benefits paid	(3,641		)	(3,112		)	(1,261		)	(1,094		)
Benefit obligation at end of year	$	133,984		$	103,612		$	42,300		$	33,383

(in thousands)	Pension Benefits						Postretirement Benefits
Change in plan assets	2014			2013			2014			2013
Fair value of plan assets at beginning of year	$	110,862		$	99,857		$	—		$	—
Actual gains on plan assets	8,689			12,487			—			—
Company contributions	131			1,630			729			580
Participant contributions	—			—			532			514
Benefits paid	(3,641		)	(3,112		)	(1,261		)	(1,094		)
Fair value of plan assets at end of year	$	116,041		$	110,862		$	—		$	—
Over (under) funded status of plans at end of year	$	(17,943	)	$	7,250		$	(42,300	)	$	(33,383	)

Amounts recognized in the Consolidated Balance Sheets

Amounts recognized in the Consolidated Balance Sheets at December 31, 2014 and 2013 consist of:

	Pension Benefits						Postretirement Benefits
(in thousands)	2014			2013			2014			2013
Accrued expenses	$	(165	)	$	(254	)	$	(1,274	)	$	(1,244	)
Employee benefit plan assets	—			14,328			—			—
Employee benefit plan obligations	(17,778		)	(6,824		)	(41,012		)	(32,139		)
Net amount recognized	$	(17,943	)	$	7,250		$	(42,286	)	$	(33,383	)

Pre-tax amounts recognized in accumulated other comprehensive loss

Following are the details of the pre-tax amounts recognized in accumulated other comprehensive loss at December 31, 2014:

	Pension Benefits					Postretirement Benefits
(in thousands)	Unamortized Actuarial Net Losses			Unamortized Prior Service Costs		Unamortized Actuarial Net Losses			Unamortized Prior Service Costs
Balance at beginning of year	$	37,536		$	—	$	11,738		$	(1,441	)
Amounts arising during the period	27,986			—		7,341			—
Amounts recognized as a component of net periodic benefit cost	(934		)	—		(812		)	543
Balance at end of year	$	64,588		$	—	$	18,267		$	(898	)

Amounts in accumulated other comprehensive loss expected to be recognized as components of net periodic benefit cost

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year, excluding the impact of the pension termination, are as follows:

(in thousands)	Pension		Postretirement			Total
Prior service cost	$	—	$	(543	)	$	(543	)
Net actuarial loss	934		812			1,746

Amounts applicable to the Company's defined benefit plans with accumulated benefit obligations in excess of plan assets

Amounts applicable to the Company's defined benefit plans with accumulated benefit obligations in excess of plan assets are as follows:

	December 31,
(in thousands)	2014		2013
Projected benefit obligation	$	17,943	$	7,078
Accumulated benefit obligation	$	17,943	$	7,078

Defined benefit plan estimated future benefit payments

The combined benefits expected to be paid for all Company defined benefit plans over the next ten years (in thousands) are as follows:

Year	Expected Pension Benefit Payout		Expected Postretirement Benefit Payout		Medicare Part D Subsidy
2015	$	126,481	$	1,431	$	(157	)
2016	371		1,532		(180		)
2017	1,002		1,628		(203		)
2018	1,241		1,734		(233		)
2019	1,319		1,846		(263		)
2020-2024	3,686		10,918		(1,850		)

Components of the net periodic benefit cost

Following are components of the net periodic benefit cost for each year:

	Pension Benefits									Postretirement Benefits
	December 31,									December 31,
(in thousands)	2014			2013			2012			2014			2013			2012
Service cost	$	180		$	—		$	—		$	687		$	841		$	752
Interest cost	4,774			4,227			4,496			1,511			1,366			1,319
Expected return on plan assets	(7,615		)	(7,005		)	(6,145		)	(543		)	(543		)	(543		)
Recognized net actuarial loss	934			1,530			1,497			812			1,473			1,280
Benefit cost (income)	$	(1,727	)	$	(1,248	)	$	(152	)	$	2,467		$	3,137		$	2,808

Schedule of assumptions used

Following are weighted average assumptions of pension and postretirement benefits for each year:

	Pension Benefits						Postretirement Benefits
	2014		2013		2012		2014		2013		2012
Used to Determine Benefit Obligations at Measurement Date
Discount rate (a)	0.65	%	4.7	%	3.8	%	3.9	%	4.8	%	3.9	%
Used to Determine Net Periodic Benefit Cost for Years ended December 31
Discount rate (b)	4.7	%	3.8	%	4.3	%	4.8	%	3.9	%	4.3	%
Expected long-term return on plan assets	7	%	7.25	%	7.25	%	—		—		—
Rate of compensation increases	N/A		N/A		N/A		—		—		—

(a) In 2014, 2013 and 2012, the calculated discount rate for the unfunded pension plan was different than the defined benefit pension plan. The calculated rate for the supplemental employee retirement plan was 2.40%, 2.90% and 2.10% in 2014, 2013 and 2012, respectively.

(b) In 2014, 2013 and 2012, the calculated discount rate for the unfunded pension plan was different than the defined benefit pension plan. The calculated rate for the supplemental employee retirement plan was 2.90%, 2.10% and 3.20% in 2014, 2013 and 2012, respectively.

Assumed health care cost trend rates at beginning of year

The plan strives to have assets sufficiently diversified so that adverse or unexpected results from one security class will not have an unduly detrimental impact on the entire portfolio.

Assumed Health Care Cost Trend Rates at Beginning of Year
	2014		2013
Health care cost trend rate assumed for next year	6.0	%	6.5	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.0	%	5.0	%
Year that the rate reaches the ultimate trend rate	2017		2017

Assumed health care cost trend rate has an effect on the amounts reported for postretirement benefits

The assumed health care cost trend rate has an effect on the amounts reported for postretirement benefits. A one-percentage-point change in the assumed health care cost trend rate would have the following effects:

	One-Percentage-Point
(in thousands)	Increase			Decrease
Effect on total service and interest cost components in 2014	$	(3	)	$	2
Effect on postretirement benefit obligation as of December 31, 2014	(173		)	149

Company's pension plan weighted average asset allocations

The Company's pension plan weighted average asset allocations at December 31 by asset category, are as follows:

Asset Category	2014		2013
Equity securities	—	%	51	%
Fixed income securities	98	%	48	%
Cash and equivalents	2	%	1	%
	100	%	100	%

Defined benefit plan assets target allocations

The overall expected long-term rate of return is determined by using long-term historical returns for equity and fixed income securities in proportion to their weight in the investment portfolio.

	Percentage of Total Portfolio Market Value
	Minimum		Maximum		Single Security
Equity based	—	%	70	%	<5%
Fixed income based	20	%	100	%	<5%
Cash and equivalents	1	%	100	%	<5%
Alternative investments	—	%	20	%	<5%

Fair value of the assets (by asset category) in the Company's defined benefit pension plan

The following tables present the fair value of the assets (by asset category) in the Company's defined benefit pension plan at December 31, 2014 and 2013:

(in thousands)	December 31, 2014
Assets	Level 1		Level 2		Level 3		Total
Money market fund	—		2,478		—		2,478
Fixed income funds	—		113,544		—		113,544
Total	$	—	$	116,022	$	—	$	116,022

(in thousands)	December 31, 2013
Assets	Level 1		Level 2		Level 3		Total
Mutual funds	$	15,898	$	—	$	—	$	15,898
Money market fund	—		987		—		987
Equity funds	—		40,702		—		40,702
Fixed income funds	—		53,275		—		53,275
Total	$	15,898	$	94,964	$	—	$	110,862