Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Defined Benefit Plan Disclosure [Line Items]

Schedule of Defined Benefit Plans Disclosures

The following tables set forth the change in plan assets, change in projected benefit obligation, rate assumptions and components of net periodic benefit cost as of December 31 with respect to these plans. The measurement dates of the assets and liabilities of both plans were December 31 of the respective years presented.

	Year Ended December 31, 2013
(in thousands)	Hourly   Employees’ Pension Plan				Employees’ Retirement Plan				Total
Change in projected benefit obligation
Benefit obligation at beginning of year		$	10,786			$	20,923		$	31,709
Service cost		11				5			16
Interest cost		371				760			1,131
Liability actuarial (gain)/loss		(1,060		)		(2,620		)	(3,680		)
Benefits paid		(631		)		(733		)	(1,364		)
Benefit obligation at end of year		9,477				18,335			27,812
Change in fair value of plan assets
Fair value of plan assets at beginning of year		7,690				14,148			21,838
Return on plan assets		1,136				2,090			3,226
Employer contributions		678				896			1,574
Benefits paid		(631		)		(733		)	(1,364		)
Fair value of plan assets at end of year		8,873				16,401			25,274
Underfunded status – December 31, 2012		$	(604	)		$	(1,934	)	$	(2,538	)
Accumulated benefit obligation – December 31, 2013		$	9,477			$	18,335		$	27,812

	Year Ended December 31, 2012
(in thousands)	Hourly   Employees’ Pension Plan				Employees’ Retirement Plan				Total
Change in projected benefit obligation
Benefit obligation at beginning of year		$	10,454			$	19,238		$	29,692
Service cost		10				4			14
Interest cost		411				788			1,199
Liability actuarial (gain)/loss		549				1,619			2,168
Benefits paid		(638		)		(726		)	(1,364		)
Benefit obligation at end of year		10,786				20,923			31,709
Change in fair value of plan assets
Fair value of plan assets at beginning of year		6,663				12,237			18,900
Return on plan assets		937				1,722			2,659
Employer contributions		728				915			1,643
Benefits paid		(638		)		(726		)	(1,364		)
Fair value of plan assets at end of year		7,690				14,148			21,838
Underfunded status – December 31, 2011		$	(3,096	)		$	(6,775	)	$	(9,871	)
Accumulated benefit obligation – December 31, 2012		$	10,786			$	20,923		$	31,709

Schedule of Assumptions Used

Assumptions used to determine benefit obligations at December 31:

	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2013	2012	2013	2012
Discount rate	4.60%	3.55%	4.75%	3.70%
Composite rate of compensation increase	N/A	N/A	N/A	N/A

Assumptions used to determine net periodic benefit cost for the years ended December 31:

	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2013	2012	2013	2012
Discount rate	3.55%	4.06%	3.70%	4.18%
Long-term rate of return on plan assets	7.25%	7.75%	7.25%	7.75%
Composite rate of compensation increase	N/A	N/A	N/A	N/A

Schedule of Net Benefit Costs

The following tables present the components of net periodic benefit cost (gains are denoted with parentheses and losses are not):

	Year Ended December 31, 2013
(in thousands)	Hourly Employees’ Pension Plan				Employees’ Retirement Plan				Total
Service cost		$	11			$	5		$	16
Interest cost		371				760			1,131
Expected return on plan assets		(549		)		(1,018		)	(1,567		)
Amortization of prior service cost		—				—			—
Amortization of net (gain)/loss		285				418			703
Net periodic benefit cost		$	118			$	165		$	283

	Year Ended December 31, 2012
(in thousands)	Hourly Employees’ Pension Plan				Employees’ Retirement Plan				Total
Service cost		$	10			$	4		$	14
Interest cost		411				788			1,199
Expected return on plan assets		(520		)		(951		)	(1,471		)
Amortization of prior service cost		—				—			—
Amortization of net (gain)/loss		280				379			659
Net periodic benefit cost		$	181			$	220		$	401

Schedule of Allocation of Plan Assets

The pension plans' weighted-average asset allocations as a percentage of plan assets at December 31 are as follows:

	Hourly Employees’ Pension Plan		Employees’ Retirement Plan
	2013	2012	2013	2012
Equity securities	55%	55%	55%	55%
Debt securities	38%	38%	38%	38%
Short-term investments	2%	2%	2%	2%
Other	5%	5%	5%	5%
Total	100%	100%	100%	100%

Fair Value, Assets Measured on Recurring Basis

The following table presents the hierarchy levels for our postretirement benefit plan investments as of December 31:

(in thousands)	December 31, 2013			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mutual Funds:
Small Cap		$	—		$	—		$	—	$	—
Mid Cap		1,577			1,577
Large Cap		6,826			6,826
International		2,531			2,531
Common/Collective:
Wells Fargo Liability Driven Solution		3,521						3,521
Wells Fargo International Equity Index Fund		1,286						1,286
Wells Fargo Thornburg International		1,273						1,273
Wells Fargo Large Cap Growth Index Fund		1,423						1,423
Wells Fargo Large Cap Value Index Fund		1,427						1,427
Wells Fargo Multi-Manager Small Cap		1,683						1,683
Wells Fargo Russell 2000 Index Fund		841						841
Wells Fargo S&P Mid Cap Index Fund		950						950
T Rowe Price Equity Income		1,424						1,424
Cash & Short-term Investments		512			512
Total		$	25,274		$	11,446		$	13,828	$	—

(in thousands)	December 31, 2012			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mutual Funds:
Small Cap		$	—		$	—		$	—	$	—
Mid Cap		1,376			1,376
Large Cap		7,126			7,126
International		2,201			2,201
Common/Collective:
Wells Fargo Liability Driven Solution Fund		3,074			—			3,074		—
Wells Fargo International Equity Index Fund		1,097						1,097
Wells Fargo Thornburg International		1,103						1,103
Wells Fargo Large Cap Growth Index Fund		1,216						1,216
Wells Fargo Large Cap Value Index Fund		1,210						1,210
Wells Fargo Multi-Manager Small Cap		1,481						1,481
Wells Fargo Russell 2000 Index Fund		708						708
Wells Fargo S&P Mid Cap Index Fund		825						825
Cash & Short-term Investments		421			421
Total		$	21,838		$	11,124		$	10,714	$	—

Schedule of Expected Benefit Payments

The following table illustrates the estimated pension benefit payments which reflect expected future service, as appropriate, that are projected to be paid:

(in thousands)	Hourly Employees’ Pension Plan			Employees’ Retirement Plan			Total
2014		$	643		$	862	$	1,505
2015		634			896		1,530
2016		635			932		1,567
2017		644			1,021		1,665
2018		651			1,112		1,763
Years 2019 through 2023		$	3,231		$	6,096	$	9,327

Supplemental Employee Retirement Plans, Defined Benefit

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used

Assumptions used to determine benefit obligations at December 31:

	2013	2012
Discount rate	4.60%	3.37%
Composite rate of compensation increase	3.00%	3.00%

Assumptions used to determine net periodic benefit cost for the years ended December 31:

	2013	2012
Discount rate	3.37%	4.04%
Composite rate of compensation increase	3.00%	3.00%
Long-term rate of return on plan assets	N/A	N/A

Schedule of Net Benefit Costs

The components of net periodic pension expense were as follows in thousands:

	Year Ended December 31,
(in thousands)	2013		2012
Service Cost	$	114	$	101
Interest Cost	102		104
Amortization of Prior Service Cost	327		287
Net Periodic Benefit Cost	$	543	$	492

Schedule of Expected Benefit Payments

Future estimated benefits expected to be paid from the plan over the next ten years as follows in thousands:

2014	$	44
2015	51
2016	101
2017	140
2018	241
Years 2019 through 2023	$	1,305

Schedule of Defined Benefit Plans Disclosures

The change in the Projected Benefit Obligation (PBO) as of December 31, 2013 and 2012, is shown below in thousands:

	Year Ended December 31,
(in thousands)	2013			2012
Benefit obligation at January 1,	$	3,057		$	2,584
Service cost	114			101
Interest cost	102			104
Liability actuarial (gain)/loss	(252		)	268
Plan Amendments	—			—
Benefit obligation at December 31,	$	3,021		$	3,057