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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The status of the Company’s plans at December 31, 2014 and 2013, was as follows:
 
Pension Benefit Plans
 
Post-Employment Benefit Plan
 
December 31,
 
December 31,
 
2014
 
2013
 
 
2014
 
2013
 
Change in benefit obligation:
 
 
 
 
 
 
 
 
 
Beginning of year
$
2,190

 
$
2,690

 
 
$
4,827

 
$
5,700

 
Service cost

 

 
 
72

 
127

 
Interest cost
87

 
83

 
 
149

 
165

 
Actuarial loss (gain)
35

 
(241
)
 
 
1,632

 
(558
)
 
Negative plan amendment benefit

 

 
 
(1,183
)
 

 
Benefits paid
(296
)
 
(342
)
 
 
(571
)
 
(607
)
 
Benefit obligation at end of year
$
2,016


$
2,190

 
 
$
4,926


$
4,827

 
Schedule of Changes in Fair Value of Plan Assets
The following table shows the change in plan assets:
 
 
Pension Benefit Plans
 
 
December 31,
 
 
2014
 
2013
 
Fair value of plan assets at beginning of year
$
1,550

 
$
1,720

 
Actual return on plan assets
46

 
172

 
Employer contributions

 

 
Benefits paid
(296
)
 
(342
)
 
Fair value of plan assets at end of year
$
1,300

 
$
1,550

 
Schedule of Assumptions Used
Assumptions used to determine accumulated benefit obligations as of the year-end were:
 
 
Pension Benefit Plans
 
Post-Employment Benefit Plan
 
Year Ended December 31,
 
 
Year Ended December 31,
 
 
2014
 
2013
 
 
2014
 
2013
 
Discount rate
3.58
%
 
4.11
%
 
 
2.99
%
 
3.95
%
 
Measurement date
December 31,
2014
 
December 31,
2013
 
 
December 31,
2014
 
December 31,
2013
 

Assumptions used to determine net benefit cost for the years ended December 31, 2014 and 2013 were:
 
Pension Benefit Plans
 
Post-Employment Benefit Plan
 
Year Ended December 31,
 
Year Ended December 31,
 
 
2014
 
2013
 
2014
 
2013
 
Expected return on Assets
7.00
%
 
7.00
%
 

 

 
Discount rate
4.11
%
 
3.19
%
 
3.95 / 3.39%

(a)
2.98
%
 
Average compensation increase
n/a

 
n/a

 
n/a

 
n/a

 


(a) 
The pension benefit plan was amended effective April 16, 2014 requiring a re-measurement valuation. The discount rate for 2014 was based on measurement dates of December 31, 2013 and April 16, 2014.
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss) are as follows:
 
Pension Benefit Plans
 
Post-Employment Benefit Plan
 
Year Ended December 31,
 
 
Year Ended December 31,
 
 
2014
 
2013
 
 
2014
 
2013
 
Net actuarial (loss) gain
$
(92
)
 
$
298

 
 
$
(1,632
)
 
$
558

 
Settlement losses
50

 
52

 
 

 

 
Plan amendment and curtailment

 

 
 
1,183

 

 
Recognized net actuarial loss
20

 
66

 
 
18

 
28

 
Amortization of prior service cost

 

 
 
(369
)
 
(647
)
 
Recognition of prior service cost due to curtailments

 

 
 
(52
)
 

 
Total other comprehensive income (loss), pre-tax
(22
)

416

 
 
(852
)

(61
)
 
    Income tax expense (benefit)
(155
)
 
166

 
 
(6
)
 
(22
)
 
Total other comprehensive income (loss), net of tax
$
133


$
250



$
(846
)

$
(39
)
 
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in the Consolidated Balance Sheets are as follows:
 
Pension Benefit Plans
 
Post-Employment Benefit Plan
 
As of December 31,
 
As of December 31,
 
2014
 
2013
 
2014
 
2013
Accrued expenses
$

 
$

 
$
(506
)
 
$
(405
)
Other non-current liabilities
(716
)
 
(640
)
 

 

Accrued retirement benefits

 

 
(4,420
)
 
(4,422
)
Net amount recognized
$
(716
)
 
$
(640
)
 
$
(4,926
)
 
$
(4,827
)
Schedule of Health Care Cost Trend Rates
The assumed average annual rate of increase in the per capita cost of covered benefits (health care cost trend rate) is as follows:
 
 
Post-Employment Benefit Plan
 
Year Ended December 31,
 
2014
 
2013
 
Pre-Age 65
 
Age 65 and older
 
Pre-Age 65
 
Age 65 and older
Health care cost trend rate
8.00
%
 
7.00
%
 
8.00
%
 
6.50
%
Ultimate trend rate
5.00
%
 
5.00
%
 
5.00
%
 
5.00
%
Year rate reaches ultimate trend rate
2028

 
2024

 
2027

 
2021

Schedule of Expected Benefit Payments
As of December 31, 2014, the following expected benefit payments (net of Medicare Part D subsidiary for Post-Employment Benefit Plan Payments), and the related expected subsidy receipts which reflect expected future service, as appropriate, are expected to be paid to plan participants:
 
 
Pension Benefit Plan
 
Post-Employment Benefit Plan
 
Expected Benefit
 Payments (a)
 
Expected Benefit
Payments
 
Expected Subsidy
Receipts
2015
$
2,016

 
$
534

 
$
28

2016

 
512

 
25

2017

 
498

 
24

2018

 
501

 
23

2019

 
518

 
22

2020-2024

 
2,194

 
88

Total
$
2,016

 
$
4,757

 
$
210



(a) 
This expected pay-out schedule anticipates the termination of the pension benefit plan during 2015.

Schedule of Allocation of Plan Assets
The weighted average asset allocation by asset category is as follows:
 
Pension Benefit Plan
 
As of December 31,
 
 
Asset Category
 
2014
 
2013
 
Cash and cash equivalents
 
58
%
 
36
%
 
Equity Securities
 
26
%
 
47
%
 
Debt Securities
 
12
%
 
11
%
 
Other
 
4
%
 
6
%
 
Total
 
100
%

100
%
 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table sets forth the Company’s pension benefit plan assets as of December 31, 2014, by level within the fair value hierarchy.
 
 
Fair Value Measurements at December 31, 2014
 
 
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents
 
$
753

 
$

 
$

 
$
753

Equity Securities:
 
 
 
 
 
 
 
 
Domestic equity securities
 
332

 

 

 
332

Fixed income securities:
 
 
 
 
 
 
 
 
Investment grade domestic bonds
 
162

 

 

 
162

Other
 
53

 

 

 
53

Total
 
$
1,300


$


$


$
1,300


The following table sets forth the Company’s pension benefit plan assets as of December 31, 2013, by level within the fair value hierarchy.
 
 
 
Fair Value Measurements at December 31, 2013
 
 
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents
 
$
556

 
$

 
$

 
$
556

Equity Securities:
 
 
 
 

 
 

 
 

Domestic equity securities
 
566

 

 

 
566

International equity securities
 
156

 

 

 
156

Fixed income securities:
 
 
 
 

 
 

 
 

Investment grade domestic bonds
 
167

 

 

 
167

Other
 
105

 

 

 
105

Total
 
$
1,550

 
$

 
$

 
$
1,550


Schedule of Share-based Compensation, Stock Options, Activity
A summary of the status of stock options awarded under the Company’s equity-based compensation plans as of December 31, 2014 and 2013 is presented below: 
 
Year Ended December 31,
 
 
2014
 
2013
 
 
 
Shares

Weighted
Average
Exercise
Price
 
 
Shares

Weighted
Average
Exercise
Price
 
Outstanding at beginning of year
10,000

 
$
9.91

 
20,000

 
$
9.30

 
Granted

 

 

 

 
Canceled/Forfeited

 

 
(10,000
)
 
8.69

 
Exercised
6,000

 
9.54

 

 

 
Outstanding at end of year
4,000

 
$
10.45

 
10,000

 
$
9.91

 
Schedule of Nonvested Restricted Stock Units Activity
A summary of the status of restricted stock awarded under the Company’s equity-based compensation plans at December 31, 2014 and 2013 and changes during the periods then ended is presented below:
 
Year Ended December 31,
 
 
2014
 
2013
 
 
 
 
 
Shares
 
Weighted
Average
Grant-Date
Fair Value
 
 
 
 
Shares
 
Weighted
Average
Grant-Date
Fair Value
 
Non vested balance at beginning of year
569,296

 
$
5.26

 
933,887

 
$
6.22

 
Granted
58,669

 
4.42

 
60,805

 
4.88

 
Forfeited
(206,282
)
 
4.59

 
(181,687
)
 
5.11

 
Vested
(142,783
)
 
3.87

 
(243,709
)
 
8.95

 
Non vested balance at end of year
278,900


$
6.28

 
569,296

 
$
5.26

 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
 A summary of the status of RSUs awarded under the Company’s equity-based compensation plans at December 31, 2014 and 2013 is presented below.  
 
Year Ended December 31,
 
2014
 
2013
 
 
 
Units

Weighted Average
 Grant-Date Fair
Value
 
 
 
Units

Weighted Average
 Grant-Date Fair
Value
Non vested balance at beginning of year
371,502

 
$
4.34

 
423,264

 
$
4.29

Granted
247,463

 
5.83

 
33,822

 
5.13

Forfeited
(135,104
)
 
4.60

 
(71,223
)
 
4.31

Vested
(70,573
)
 
3.22

 
(14,361
)
 
5.07

Non vested balance at end of year
413,288

 
$
5.09

 
371,502

 
$
4.34

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Benefit Costs
Components of net benefit cost are as follows:
 
Pension Benefit Plans
 
Post-Employment Benefit Plan
 
 
Year Ended December 31,
 
 
Year Ended December 31,
 
 
 
2014
 
2013
 
 
2014
 
2013
 
 
Service cost
$

 
$

 
 
$
72

 
$
127

 
 
Interest cost
87

 
83

 
 
149

 
165

 
 
Expected return on assets
(104
)
 
(114
)
 
 

 

 
 
Amortization of prior service cost

 

 
 
(369
)
 
(647
)
 
 
Recognized net actuarial loss
21

 
66

 
 
18

 
28

 
 
Settlement losses
50

 
52

 
 

 

 
 
Net benefit cost
$
54


$
87

 
 
$
(130
)

$
(327
)
 
 
Cost Recognized In Net Periodic Benefit Cost [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Benefit Costs
The estimated amount that will be recognized from accumulated other comprehensive income (loss) into net periodic benefit cost during the year ended December 31, 2015 is as follows:
 
 
Pension Benefit Plans
 
Post-Employment Benefit Plan
Actuarial net loss
$
(25
)
 
$
(278
)
Net prior service credits

 
339

Net amount recognized
$
(25
)
 
$
61