Postemployment Benefits [Abstract] | Period [Axis] |
---|
2015-01-01 - 2015-12-31 |
---|
Postemployment Benefits [Abstract] | |
Defined Contribution Plan Disclosures | The table below reflects the total expected employer contributions to the plan in 2016. | | | | | Year ended December 31, (in thousands) | | 2016 | $ | 1,309 |
|
|
Schedule of Expected Benefit Payments | The table below reflects the total Pension Benefits expected to be paid from the plan, which is funded from contributions by participants and the Company. | | | | | Year ended December 31, (in thousands) | | 2016 | $ | 2,041 |
| 2017 | 1,856 |
| 2018 | 2,098 |
| 2019 | 1,929 |
| 2020 | 1,736 |
| Thereafter (next 5 years) | $ | 8,415 |
|
|
Schedule of Net Benefit Costs | | | | | | Components of Net Periodic Benefit Cost | | (In thousands): | 2015 | Service cost | $ | 2,055 |
| Interest cost | 616 |
| Expected return on assets | (1,267 | ) | Net periodic benefit cost | $ | 1,404 |
|
|
Schedule of Assumptions Used | | | | | | | | Actuarial Assumptions as of the Fiscal Year End | | | 2015 | | 2014 | Discount rate | 1.10 | % | | 1.30 | % | Expected rate of return on plan assets | 3.00 | % | | 3.25 | % | Rate of compensation increase | 0.70 | % | | 0.70 | % |
|
Schedule of Amounts Recognized in Balance Sheet | The amounts recognized on the Company's Balance Sheets represents the plan's funded status at December 31: | | | | | (In thousands): | 2015 | Noncurrent assets | $ | — |
| Current liabilities | 29 |
| Noncurrent liabilities | 7,688 |
| Net amount recognized on the balance sheet | $ | 7,717 |
|
|
Schedule of Changes in Projected Benefit Obligations | | | | | | Change in Projected Benefit Obligation | | (In thousands): | 2015 | Projected benefit obligation at beginning of year | $ | 47,357 |
| Service cost | 2,055 |
| Interest cost | 616 |
| Plan participants' contributions | 1,730 |
| Actuarial (gain) loss | 1,454 |
| Benefits paid | (4,753 | ) | Projected benefit obligation at end of year | $ | 48,459 |
|
|
Schedule of Changes in Fair Value of Plan Assets | | | | | | Change in Plan Assets | | (In thousands): | 2015 | Fair value of plan assets at beginning of year | $ | 39,088 |
| Actual return on plan asset | 3,377 |
| Company contributions | 1,300 |
| Plan participants' contributions | 1,730 |
| Benefits paid | (4,753 | ) | Fair value of plan assets at end of year | $ | 40,742 |
|
|
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | | | | | | Other Changes in AOCI | | (In thousands): | 2015 | Beginning of the year accumulated other comprehensive income | $ | — |
| Net (gain) loss | (656 | ) | End of the year accumulated other comprehensive income | $ | (656 | ) |
|
Schedule of Net Funded Status | | | | | | Reconciliation of Funded Status | | (In thousands): | 2015 | Projected benefit obligation at end of year | $ | 48,459 |
| Fair value of plan assets at end of year | 40,742 |
| Funded status | $ | (7,717 | ) |
|