EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Employee Benefit Plans

The funded status of the Plans and the net amount recognized in the statement of financial position

The Company currently uses December 31 as the measurement date for its defined benefit post-retirement plans. The funded status of the Plans and the net amount recognized in the statement of financial position are summarized as follows as of:

EMPLOYEE BENEFIT PLANS

December 31,	2019			2018
(in thousands)
CHANGE IN ACCUMULATED BENEFIT OBLIGATION
Accumulated benefit obligation at beginning of year	$	208,425		$	202,310
Service cost		—			37
Interest cost		4,804			7,926
Actuarial (gain)/loss		(4,156	)		11,175
Benefits paid		(8,000	)		(13,023	)
Settlement		(198,255	)		—
Accumulated Benefit obligation at end of year		2,818			208,425
CHANGE IN PLAN ASSETS
Fair value of assets at beginning of year		213,699			219,905
Settlement		(198,255	)		—
Actual return on assets		27,064			6,817
Employer contributions		144			—
Rollins 401(k) funding		(11,049	)		—
Benefits paid		(8,000	)		(13,023	)
Fair value of plan assets at end of year		23,603			213,699
Funded status	$	20,785		$	5,274

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

Amounts Recognized in the Statement of Financial Position consist of:

Amounts Recognized in the Statement of Financial Position consist of:
December 31,	2019		2018
(in thousands)
Assets:
Benefit plan assets	$	21,565	$	—
Prepaid pension		—		5,274
Liabilities:
Long-term accrued liabilities	$	780	$	—

Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block]

Amounts Recognized in the Accumulated Other Comprehensive Income consist of:

Amounts Recognized in the Accumulated Other Comprehensive Income consist of:
December 31,	2019		2018
(in thousands)
Net Actuarial Loss	$	912	$	76,362

weighted-average assumptions were used to determine the accumulated benefit obligation and net benefit cost

The following weighted-average assumptions were used to determine the accumulated benefit obligation and net benefit cost:

EMPLOYEE BENEFIT PLANS (Details 4)

December 31,	2019			2018			2017
ACCUMULATED BENEFIT OBLIGATION
Discount rate		3.65	%		4.00	%*		4.00	%
Rate of compensation increase		N/A			N/A			N/A
NET BENEFIT COST
Discount rate		4.70	%		4.05	%		4.45	%
Expected return on plan assets		7.00	%		7.00	%		7.00	%
Rate of compensation increase		N/A			N/A			N/A

components of net periodic benefit cost

The components of net periodic benefit cost are summarized as follows:

EMPLOYEE BENEFIT PLANS (Details 5)

Years ended December 31,	2019			2018			2017
(in thousands)
Service cost	$	—		$	37		$	58
Interest cost		4,805			7,926			8,493
Expected return on plan assets		(6,149	)		(13,775	)		(13,368	)
Amortization of net loss		2,396			3,292			3,322
Preliminary net periodic benefit cost/(income)		1,052			(2,520	)		(1,495	)
Settlement expense		46,419			—			53
Net periodic benefit cost/(income)		47,471			(2,520	)		(1,442	)

benefit obligations recognized in other comprehensive income

The benefit obligations recognized in other comprehensive income for the years ended December 31, 2019, 2018, and 2017 are summarized as follows :

EMPLOYEE BENEFIT PLANS (Details 6)

Years ended December 31,	2019			2018			2017
(in thousands)
Pretax (income)/loss	$	(26,634	)	$	18,056		$	(15,597	)
Amortization of net loss		(2,396	)		(3,292	)		(3,322	)
Settlement expense		(46,419	)		—			(53	)
Total recognized in other comprehensive income	$	(75,449	)	$	14,764		$	(18,972	)

Plans' weighted average asset allocation

The Plans' weighted average asset allocation at December 31, 2019 and 2018 by asset category, along with the target allocation for 2018, are as follows:

EMPLOYEE BENEFIT PLANS (Details 7)

	Target Allocations for				Percentage of plan assets as of December 31,
Asset category	2020				2019		2018
Cash and cash equivalents	0.0%	-	100.0	%	72.3	%	3.5	%
Equity securities - Rollins stock	0.0%	-	40.0	%	0.0	%	0.4	%
Domestic equity - all other	0.0%	-	40.0	%	3.8	%	0.7	%
International equity	0.0%	-	30.0	%	1.9	%	0.2	%
Debt securities - core fixed income	0.0%	-	100.0	%	2.1	%	91.1	%
Real estate	0.0%	-	20.0	%	9.5	%	2.0	%
Alternative/Opportunistic/Special	0.0%	-	20.0	%	10.4	%	2.1	%
Total	0.0%	-	100.0	%	100.0	%	100.0	%

assets using the fair value hierarchy

The following table presents our plan assets using the fair value hierarchy as of December 31, 2019. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. See Note 8 for a brief description of the three levels under the fair value hierarchy.

EMPLOYEE BENEFIT PLANS (Details 8)

(in thousands)	Level 1		Level 2		NAV		Total
(1) Cash and cash equivalents	$	17,071	$	—	$	—	$	17,071
(2) Fixed income securities		—		499		—		499
Domestic equity securities		—		899		—		899
(3) International equity securities		—		437		—		437
(4) Real estate		—		—		2,235		2,235
(5) Alternative/opportunistic/special		—		—		2,462		2,462
Total	$	17,071	$	1,835	$	4,697	$	23,603

estimated future benefit payments

The estimated future benefit payments over the next five years are as follows:

EMPLOYEE BENEFIT PLANS (Details 9)

(in thousands)
2020	$	69
2021		76
2022		84
2023		90
2024		110
Thereafter		694
Total	$	1,123

estimated life insurance premium payments

The estimated life insurance premium payments over the next five years are as follows:

EMPLOYEE BENEFIT PLANS (Details 10)

(in thousands)
2020	$	108
2021		1,550
2022		1,665
2023		1,906
2024		2,417
Total	$	7,646

non-qualified deferred compensation plan assets using the fair value hierarchy

The following table presents our non-qualified deferred compensation plan assets using the fair value hierarchy as of December 31, 2019 and 2018.

EMPLOYEE BENEFIT PLANS (Details 11)

(in thousands)	Level 1		Level 2		Level 3		Total
December 31, 2019	$	71	$	—	$	22,158	$	22,229
December 31, 2018	$	148	$	—	$	18,267	$	18,415