ASSOCIATE BENEFIT PLANS (Tables)

9 Months Ended

Sep. 30, 2019

Postemployment Benefits [Abstract]

Schedule of Net Periodic Benefit Cost Components of Postretirement Benefits

The following table presents the components of net periodic benefit cost related to our postretirement medical benefits plan measured at January 1, 2019 and 2018.

	Three months ended September 30,				Nine months ended September 30,
(Dollars in thousands)	2019		2018		2019		2018
Service cost	$	13	$	15	$	40	$	45
Interest cost	20		18		58		53
Prior service cost amortization	(19)		(19)		(57)		(57)
Net gain recognition	(16)		(11)		(47)		(34)
Net periodic (benefit) cost	$	(2)	$	3	$	(6)	$	7

Alliance Associate Pension Plan

During the fourth quarter of 2015, we completed the acquisition of Alliance. At the time of the acquisition, we assumed the Alliance pension plan offered to its current Associates.

The following table presents the components of net periodic benefit cost related to the Alliance Associate Pension Plan measured at January 1, 2019 and 2018.

	Three months ended September 30,				Nine months ended September 30,
(Dollars in thousands)	2019		2018		2019		2018
Service cost	$	10	$	10	$	30	$	30
Interest cost	70		75		208		222
Expected return on plan assets	(150)		(138)		(445)		(410)
Prior service cost amortization	—		—		—		—
Net gain recognition	—		—		—		—
Net periodic benefit	$	(70)	$	(53)	$	(207)	$	(158)

During the fourth quarter of 2018, the Company notified the Alliance pension plan participants, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation of its intention to terminate the plan. The Company currently anticipates completing the pension plan termination during the first quarter of 2020. As of September 30, 2019, the valuation of the benefit obligations and estimated future benefit payments did not include termination assumptions.

Beneficial Associate Pension and other postretirement benefits plans

On March 1, 2019, we closed our acquisition of Beneficial. At the time of the acquisition, we assumed the pension plan covering certain eligible Beneficial Associates. The plan was frozen in 2008.

The following table presents the components of net periodic benefit cost related to the Beneficial pension benefits and other postretirement benefit plans.

	Three months ended September 30, 2019		Nine months ended September 30, 2019		Three months ended September 30, 2019		Nine months ended September 30, 2019
(Dollars in thousands)	Pension Benefits				Other Postretirement Benefits
Service cost	$	—	$	—	$	23	$	53
Interest cost	857		1,999		177		413
Expected return on plan assets	(1,442)		(3,365)		—		—
Prior service cost amortization	—		—		—		—
Net gain recognition	—		—		—		—
Net periodic (benefit) cost	$	(585)	$	(1,366)	$	200	$	466