Compensation and Retirement Disclosure [Abstract] | Period [Axis] |
---|
2016-01-01 - 2016-12-31 |
---|
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The following tables summarize the balance sheet impact, including the benefit obligations, assets and funded status associated with the AdvanSix Retirement Earnings Plan.
Change in benefit obligation: | |
| | |
Benefit obligation at October 1, 2016 (Spin-Off) | |
$ | 34,935 | |
Service Cost | |
| 1,796 | |
Interest Cost | |
| 315 | |
Actuarial (gains) losses | |
| (3,159 | ) |
Benefit obligation at December 31, 2016 | |
$ | 33,887 | |
| |
| | |
Change in plan assets: | |
| | |
Fair value of plan assets at October 1, 2016 (Spin-Off) | |
$ | – | |
Company contributions | |
| – | |
Fair value of plan assets at end of year | |
| – | |
Funded status of plans | |
$ | (33,887 | ) |
| |
| | |
Amounts recognized in Balance Sheet consists of: | |
| | |
Accrued pension liabilities-current (1) | |
$ | (343 | ) |
Accrued pension liabilities-noncurrent (2) | |
| (33,544 | ) |
Net amount recognized | |
$ | (33,887 | ) |
| (1) | Included in accrued liabilities on Balance Sheet |
| (2) | Included in postretirement benefit obligations on Balance Sheet | |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | Amounts recognized in accumulated other comprehensive income (loss) associated with our pension plan at December 31, 2016 are as follows:
Transition obligation | |
$ | – | |
Prior service (credit) cost | |
| – | |
Net actuarial gain | |
| (3,159 | ) |
Net amount recognized | |
$ | (3,159 | ) |
|
Schedule of Net Benefit Costs [Table Text Block] | The components of net periodic benefit cost and other amounts recognized in other comprehensive income for our pension plan include the following components:
|
| |
Years ended December 31, |
|
| |
2016 | |
2015 | |
2014 |
|
| |
| |
| |
|
Service cost |
| |
$ | 1,796 | | |
$ | – | | |
$ | – | |
Interest cost |
| |
| 315 | | |
| – | | |
| – | |
Expected return on plan assets |
| |
| – | | |
| – | | |
| – | |
Recognition of actuarial losses |
| |
| – | | |
| – | | |
| – | |
Net periodic benefit cost |
| |
$ | 2,111 | | |
$ | – | | |
$ | – | |
|
| |
| | | |
| | | |
| | |
Other Changes in Benefits Obligations Recognized in Other Comprehensive
Income (loss) |
| |
| | | |
| | | |
| | |
Actuarial gains |
| |
| (3,159 | ) | |
| – | | |
| – | |
Total recognized in other comprehensive income |
| |
$ | (3,159 | ) | |
$ | – | | |
$ | – | |
|
| |
| | | |
| | | |
| | |
Total recognized in net periodic benefit cost and other comprehensive income |
| |
$ | (1,048 | ) | |
$ | – | | |
$ | – | |
|
Schedule of Assumptions Used [Table Text Block] | Significant actuarial assumptions used in determining the benefit obligations and net periodic benefit cost for our pension plan were as follows:
|
2016 |
Actuarial assumptions used to determine benefit obligations as of December 31,: |
|
Discount rate |
4.48% |
Expected annual rate of compensation increase |
2.75% |
Actuarial assumptions used to determine the net periodic benefit cost for the year ended December 31,: |
|
Discount rate |
3.93% |
Expected annual rate of compensation increase |
3.75% |
|
Schedule of Expected Benefit Payments [Table Text Block] | Benefit payments, including amounts to be paid from Company assets, and reflecting expected future service, as appropriate, are expected to be paid during the following years:
2017 | |
$ | 343 | |
2018 | |
| 879 | |
2019 | |
| 1,481 | |
2020 | |
| 2,106 | |
2021 | |
| 2,778 | |
2022–2026 | |
| 24,379 | |
|