PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2016

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

Summary of the components of net periodic benefit cost

	Three Months Ended March 31
	Nonunion Defined				Supplemental				Postretirement
	Benefit Pension Plan				Benefit Plan				Health Benefit Plan
	2016		2015		2016		2015		2016		2015
	(in thousands)
Service cost	$	—	$	—	$	—	$	—	$	107	$	101
Interest cost		1,305		1,320		32		31		254		228
Expected return on plan assets		(1,946)		(2,402)		—		—		—		—
Amortization of prior service credit		—		—		—		—		(47)		(47)
Pension settlement expense		900		1,119		—		—		—		—
Amortization of net actuarial loss(1)		955		821		38		40		176		213
Net periodic benefit cost	$	1,214	$	858	$	70	$	71	$	490	$	495

⁽¹⁾ The Company amortizes actuarial losses over the average remaining active service period of the plan participants and does not use a corridor approach.

Schedule of changes in the projected benefit obligation and plan assets of the nonunion defined benefit pension plan

	Nonunion Defined
	Benefit Pension Plan
	(in thousands)
Change in benefit obligations
Benefit obligations at December 31, 2015	$	159,607
Interest cost		1,305
Actuarial loss(1)		5,723
Benefits paid		(4,590)
Benefit obligations at March 31, 2016		162,045
Change in plan assets
Fair value of plan assets at December 31, 2015		136,917
Actual return on plan assets		1,935
Benefits paid		(4,590)
Fair value of plan assets at March 31, 2016		134,262
Funded status at March 31, 2016(2)	$	(27,783)
Accumulated benefit obligation	$	162,045

⁽¹⁾ Actuarial loss from remeasurement upon settlement was primarily impacted by the change in the discount rate since the previous remeasurement date. The discount rate used to remeasure the PBO upon settlement at March 31, 2016 was 3.0% compared to a rate of 3.5% as of December 31, 2015 measurement date.

⁽²⁾ Noncurrent liability recognized within pension and postretirement liabilities in the accompanying consolidated balance sheet at March 31, 2016.