XML 31 R18.htm IDEA: XBRL DOCUMENT v3.7.0.1
Employee Retirement and Postretirement Benefits
6 Months Ended
Jun. 30, 2017
Retirement Benefits [Abstract]  
Employee Retirement and Postretirement Benefits
Employee Retirement and Postretirement Benefits
We sponsor various defined benefit and defined contribution retirement plans, including various employee savings and profit sharing plans, and contribute to various multiemployer pension plans on behalf of our employees. All full-time union and non-union employees who have met requirements pursuant to the plans are eligible to participate in one or more of these plans.
Defined Benefit Plans — The benefits under our defined benefit plans are based on years of service and employee compensation. The following table sets forth the components of net periodic benefit cost for our defined benefit plans during the three and six months ended June 30, 2017 and 2016:
 
Three Months Ended June 30
 
Six Months Ended June 30
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
Components of net periodic benefit cost:
 
 
 
 
 
 
 
Service cost
$
752

 
$
793

 
$
1,504

 
$
1,586

Interest cost
2,927

 
3,043

 
5,854

 
6,086

Expected return on plan assets
(4,758
)
 
(4,633
)
 
(9,516
)
 
(9,266
)
Amortizations:
 
 
 
 
 
 
 
Prior service cost
176

 
214

 
352

 
428

Unrecognized net loss
2,581

 
2,206

 
5,162

 
4,412

Net periodic benefit cost
$
1,678

 
$
1,623

 
$
3,356

 
$
3,246


On April 3, 2017, we made a discretionary contribution of $38.5 million to our company-sponsored pension plans. We expect to contribute an additional $0.8 million to the company-sponsored pension plans during the remainder of 2017.
Postretirement Benefits — Certain of our subsidiaries provide health care benefits to certain retirees who are covered under specific group contracts. The following table sets forth the components of net periodic benefit cost for our postretirement benefit plans during the three and six months ended June 30, 2017 and 2016: 
 
Three Months Ended June 30
 
Six Months Ended June 30
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
Components of net periodic benefit cost:
 
 
 
 
 
 
 
Service cost
$
146

 
$
160

 
$
292

 
$
320

Interest cost
240

 
271

 
480

 
542

Amortizations:
 
 
 
 
 
 
 
Prior service cost
23

 
23

 
46

 
46

Unrecognized net gain
(114
)
 
(61
)
 
(228
)
 
(122
)
Net periodic benefit cost
$
295

 
$
393

 
$
590

 
$
786