PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2017

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
	2017		2016		2017		2016		2017		2016
	(in thousands)
Service cost	$	—	$	—	$	—	$	—	$	122	$	107
Interest cost		1,240		1,305		26		32		265		254
Expected return on plan assets		(2,167)		(1,946)		—		—		—		—
Amortization of prior service credit		—		—		—		—		(47)		(47)
Pension settlement expense		1,957		900		—		—		—		—
Amortization of net actuarial loss(1)		886		955		20		38		173		176
Net periodic benefit cost	$	1,916	$	1,214	$	46	$	70	$	513	$	490

⁽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, 2016	$	152,006
Interest cost		1,240
Actuarial loss(1)		4,290
Benefits paid		(12,532)
Benefit obligations at March 31, 2017		145,004
Change in plan assets
Fair value of plan assets at December 31, 2016		144,805
Actual return on plan assets		4,050
Benefits paid		(12,532)
Fair value of plan assets at March 31, 2017		136,323
Funded status at March 31, 2017(2)	$	(8,681)
Accumulated benefit obligation	$	145,004

⁽¹⁾ Primarily impacted by actuarial increases in the valuation of participant data as of January 1, 2017. The actuarial loss from remeasurement upon settlement was also impacted by a decrease in the discount rate at March 31, 2017 compared to the previous remeasurement at December 31, 2016.

⁽²⁾ Noncurrent liability recognized within pension and postretirement liabilities in the accompanying consolidated balance sheet at March 31, 2017.