Postretirement Benefits Other Than Pensions (Tables)

12 Months Ended

Dec. 31, 2017

The reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets for the years ended December 31, 2017 and 2016, and the funded status of the plans at December 31, 2017 and 2016 are as follows:



	December 31
	2017			2016
	(In thousands)
Change in benefit obligation:
Benefit obligation at beginning of year	$	338,733		$	333,975
Service cost	3,007			3,173
Interest cost	11,709			12,171
Plan amendments	1,233			—
Actuarial (gain) loss	19,921			11,578
Benefits paid	(24,819		)	(21,407		)
Plan settlements	—			(757		)
Benefit obligation at end of year	349,784			338,733
Change in plan assets:
Fair value of plan assets at beginning of year	282,183			282,753
Actual return on plan assets	48,038			16,105
Employer contributions	39,358			5,489
Benefits paid	(24,819		)	(21,407		)
Plan settlements	—			(757		)
Fair value of plan assets at end of year	344,760			282,183
Funded status at end of year	$	(5,024	)	$	(56,550	)

The following table sets forth the funded status of these plans:



	December 31
	2017			2016
	(In thousands)
Change in benefit obligation:
Benefit obligation at beginning of year	$	30,122		$	32,132
Service cost	586			640
Interest cost	960			1,085
Employee contributions	256			338
Actuarial (gain) loss	1,622			(1,916		)
Benefits paid	(1,680		)	(2,157		)
Benefit obligation at end of year	31,866			30,122
Fair value of plan assets at end of year	—			—
Funded status	$	(31,866	)	$	(30,122	)

Schedule of Actuarial Assumptions Used to Determine Benefit Obligations

A summary of our key actuarial assumptions used to determine net periodic benefit cost follows:



	Year Ended December 31
	2017		2016		2015
Healthcare inflation:
Healthcare cost trend rate assumed for next year	7.00	%	7.27	%	7.70	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	4.50	%	4.50	%	4.50	%
Year of ultimate rate achievement	2038		2038		2029
Effective discount rate for benefit obligations	3.97	%	4.27	%	3.85	%
Effective rate for interest on benefit obligations	3.32	%	3.52	%	3.85	%
Effective discount rate for service cost	4.44	%	4.68	%	3.85	%
Effective rate for interest on service cost	4.08	%	4.37	%	3.85	%

A summary of our key actuarial assumptions used to determine the benefit obligation as of December 31, 2017 and 2016 follows:



	December 31
	2017		2016
Healthcare inflation:
Healthcare cost trend rate assumed for next year	6.72	%	7.00	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	4.50	%	4.50	%
Year of ultimate rate achievement	2038		2038
Weighted average discount rate	3.53	%	3.97	%

Schedule of Net Periodic Benefit Cost



	Year Ended December 31
	2017			2016			2015
	(In thousands)
Components of net periodic benefit cost:
Service cost	$	3,007		$	3,173		$	3,631
Interest cost	11,709			12,171			13,736
Expected return on plan assets	(19,030		)	(18,531		)	(20,026		)
Amortizations:
Prior service cost	706			857			856
Unrecognized net loss	10,325			8,822			8,544
Effect of settlement	—			313			—
Other	—			—			(147		)
Net periodic benefit cost	$	6,717		$	6,805		$	6,594



	Year Ended December 31
	2017			2016			2015
	(In thousands)
Components of net periodic benefit cost:
Service and interest cost	$	1,545		$	1,725		$	2,276
Amortizations:
Prior service cost	92			92			92
Unrecognized net (gain) loss	(457		)	(245		)	63
Net periodic benefit cost	$	1,180		$	1,572		$	2,431

Schedule of Effects of One Percent Change in Assumed Health Care Cost Trend Rates

A one percent change in assumed health care cost trend rates would have the following effects:



	1-Percentage- Point Increase		1-Percentage- Point Decrease
	(In thousands)
Effect on total of service and interest cost components	$	214	$	(177	)
Effect on postretirement obligation	1,982		(3,489		)

Schedule of Estimated Pension Plan Benefit Payments to Participants for Next Ten Years

Estimated pension plan benefit payments to participants for the next ten years are as follows:



2018	$	18.3	million
2019	18.6		million
2020	19.1		million
2021	19.9		million
2022	20.4		million
Next five years	104.8		million

Estimated postretirement health care plan benefit payments for the next ten years are as follows:



2018	$	2.2	million
2019	2.3		million
2020	2.4		million
2021	2.3		million
2022	2.4		million
Next five years	11.3		million