Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Defined Benefit Plans Disclosures

The changes in the projected benefit obligation and the fair value of plan assets of our Benefit Plan for the years ended December 31, 2018 and 2017 were as follows (in thousands):



	2018			2017
Changes in projected benefit obligation:
Projected benefit obligation as of the beginning of the period	$	30,877		$	28,914
Service cost	548			614
Interest cost	1,107			1,192
Actuarial (gain) loss	(2,917		)	1,091
Benefits paid	(2,076		)	(934		)
Projected benefit obligation as of December 31	$	27,539		$	30,877

Changes in fair value of plan assets:
Fair value of plan assets as of the beginning of the period	$	23,461		$	21,345
Actual return on plan assets	(1,131		)	3,050
Benefits paid	(2,076		)	(934		)
Fair value of plan assets as of December 31	$	20,254		$	23,461

Schedule of Accumulated and Projected Benefit Obligations

The reconciliation of the underfunded status of our Benefit Plans of December 31, 2018 and 2017 was as follows:



	2018		2017
Projected benefit obligation	$	27,539	$	30,877
Fair value of plan assets	20,254		23,461
Underfunded status	$	7,285	$	7,416

Gross amounts recognized in accumulated other comprehensive income: (1)
Net actuarial gain	$	3,494	$	2,965

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(1)	As of December 31, 2018, we had $0.1 million in accumulated other comprehensive income that is expected to be amortized into net periodic benefit cost in 2019.

Schedule of Assumptions Used

Weighted-average assumptions used to measure our projected benefit obligation as of December 31, 2018 and 2017 and net periodic benefit costs for the years ended December 31, 2018 and 2017 and the period from July 14, 2016, the date of acquisition, to December 31, 2016 are as follows:



	2018		2017		2016
Projected benefit obligation:
Discount rate (1)	4.20	%	3.65	%	4.20	%
Rate of compensation increase	3.00	%	3.00	%	4.30	%

Net periodic benefit costs:
Discount rate (1)	3.65	%	4.20	%	3.80	%
Expected long-term rate of return (2)	6.50	%	6.25	%	7.00	%
Rate of compensation increase	3.00	%	4.30	%	4.03	%

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(1)	In determining the discount rate, we use yields on high-quality fixed income investments with payments matched to the estimated distributions of benefits from our plans.


(2)	The expected long-term rate of return is based on a blend of historic returns of equity and debt securities.

Schedule of Net Benefit Costs

The net periodic benefit cost (credit) for the years ended December 31, 2018 and 2017 and the period from July 14, 2016 to December 31, 2016 includes the following components:



	2018			2017			2016
Components of net periodic benefit cost (credit):
Service cost	$	548		$	614		$	668
Interest cost	1,107			1,192			598
Expected return on plan assets	(1,258		)	(1,189		)	(686		)
Plan amendment effect	—			—			(3,067		)
Net periodic benefit cost (credit)	$	397		$	617		$	(2,487	)

Schedule of Allocation of Plan Assets

The weighted-average asset allocation at December 31, 2018 is as follows:



	Target		Actual
Asset category:
Equity securities	54	%	54	%
Debt securities	35	%	33	%
Real estate	11	%	13	%
Total	100	%	100	%

Schedule of Expected Benefit Payments

Based on current data and assumptions, the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next 10 years:



Year Ended
2019	$	1,140
2020	1,260
2021	1,130
2022	1,200
2023	1,270
Thereafter	7,460
	$	13,460