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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Change in Postretirement Benefit Obligation
The change in the Company's postretirement benefit obligation is as follows:
 
Year Ended December 31,
(In thousands)
2019
 
2018
 
2017
Change in Benefit Obligation
 

 
 

 
 

Benefit obligation at beginning of year
$
29,777

 
$
31,050

 
$
37,482

Service cost
1,533

 
1,776

 
1,508

Interest cost
1,283

 
1,172

 
1,097

Actuarial (gain) loss
3,279

 
(3,165
)
 
5,156

Benefits paid
(1,434
)
 
(1,056
)
 
(1,204
)
Curtailments(1)
—

 
—

 
(4,346
)
Plan amendments
—

 
—

 
(8,643
)
Benefit obligation at end of year
$
34,438

 
$
29,777

 
$
31,050

Change in Plan Assets
 

 
 

 
 

Fair value of plan assets at end of year
—

 
—

 
—

Funded status at end of year
$
(34,438
)
 
$
(29,777
)
 
$
(31,050
)
_______________________________________________________________________________
(1)
During 2017, the Company terminated approximately 100 employees in connection with the sale of oil and gas properties located in West Virginia, Virginia and Ohio. As a result, the employees’ participation in the postretirement plan also terminated, which resulted in a remeasurement and curtailment of the postretirement benefit obligation.
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in the balance sheet consist of the following:
 
December 31,
(In thousands)
2019
 
2018
 
2017
Current liabilities
$
1,725

 
$
1,865

 
$
1,654

Non-current liabilities
32,713

 
27,912

 
29,396

 
$
34,438

 
$
29,777

 
$
31,050
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss)
 
Year Ended December 31,
(In thousands)
2019
 
2018
 
2017
Components of Net Periodic Postretirement Benefit Cost
 

 
 

 
 

Service cost
$
1,533

 
$
1,776

 
$
1,508

Interest cost
1,283

 
1,172

 
1,097

Amortization of prior service cost
(709
)
 
(709
)
 
(1,183
)
Net periodic postretirement cost
2,107

 
2,239

 
1,422

Recognized curtailment gain
—

 
—

 
(4,917
)
Total post retirement cost (income)
$
2,107

 
$
2,239

 
$
(3,495
)
Other Changes in Benefit Obligations Recognized in Other Comprehensive Income (Loss)
 

 
 

 
 

Net (gain) loss
$
3,279

 
$
(3,165
)
 
$
4,178

Prior service cost
—

 
—

 
(8,643
)
Amortization of prior service cost
709

 
709

 
2,733

Total recognized in other comprehensive income
3,988

 
(2,456
)
 
(1,732
)
Total recognized in net periodic benefit cost (income) and other comprehensive income
$
6,095

 
$
(217
)
 
$
(5,227
)

Amounts recognized in accumulated other comprehensive income (loss) consist of the following:
 
December 31,
(In thousands)
2019
 
2018
 
2017
Net actuarial (gain) loss
$
(3,787
)
 
$
(1,253
)
 
$
1,912

Prior service cost
2,025

 
(4,497
)
 
(5,206
)
 
$
(1,762
)
 
$
(5,750
)
 
$
(3,294
)
Assumptions Used to Determine Projected Postretirement Benefit Obligations and Postretirement Costs
Assumptions used to determine projected postretirement benefit obligations and postretirement costs are as follows:
 
December 31,
 
2019
 
2018
 
2017
Discount rate(1)
3.50
%
 
4.45
%
 
3.85
%
Health care cost trend rate for medical benefits assumed for next year (pre-65)
7.00
%
 
7.25
%
 
7.50
%
Health care cost trend rate for medical benefits assumed for next year (post-65)
5.25
%
 
5.50
%
 
5.75
%
Ultimate trend rate (pre-65)
4.50
%
 
4.50
%
 
4.50
%
Ultimate trend rate (post-65)
4.50
%
 
4.50
%
 
4.50
%
Year that the rate reaches the ultimate trend rate (pre-65)
2030

 
2030

 
2030

Year that the rate reaches the ultimate trend rate (post-65)
2023

 
2023

 
2023

_______________________________________________________________________________
(1)
Represents the year end rates used to determine the projected benefit obligation. To compute postretirement cost in 2019, 2018 and 2017, respectively, the beginning of year discount rates of 4.45 percent, 3.85 percent and 3.85 percent were used.
Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates may have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects:
(In thousands)
1-Percentage-Point Increase
 
1-Percentage-Point Decrease
Effect on total of service and interest cost
$
639

 
$
(483
)
Effect on postretirement benefit obligation
5,765

 
(4,508
)
Schedule of Estimated Benefit Payments The following estimated benefit payments under the Company's postretirement plans, which reflect expected future service, are expected to be paid as follows:
(In thousands)
 
2020
$
1,755

2021
1,726

2022
1,768

2023
1,798

2024
1,765

Years 2025 - 2029
8,559