| Retirement Plans and Employee Benefits | Period [Axis] |
|---|
2015-01-01 - 2015-12-31 |
|---|
Retirement Plans and Employee Benefits | |
Schedule of reconciliation of changes in the Pension Plan's benefit obligation and plan assets |
|
|
|
|
|
|
Change in benefit obligation:
|
|
|
|
|
Benefit obligation as of acquisition date of Rural/ Metro of October 28, 2015
|
|
$
|
40,318
|
|
Service costs
|
|
|
556
|
|
Interest costs
|
|
|
315
|
|
Plan participants' contributions
|
|
|
1
|
|
Benefits paid
|
|
|
(16)
|
|
Actuarial (gain) loss
|
|
|
(1,106)
|
|
Benefit obligation at December 31, 2015
|
|
$
|
40,068
|
|
Change in plan assets:
|
|
|
|
|
Fair value of plan assets as of acquisition date of Rural/ Metro of October 28, 2015
|
|
|
18,669
|
|
Actual return on plan assets
|
|
|
(272)
|
|
Employer contributions
|
|
|
—
|
|
Benefits paid
|
|
|
(16)
|
|
Plan participants' contributions
|
|
|
1
|
|
Fair value of plan assets at December 31, 2015
|
|
$
|
18,382
|
|
Funded status at December 31, 2015
|
|
$
|
(21,686)
|
|
Schedule of components of net periodic benefit cost and other amounts recognized as comprehensive (loss) income |
|
|
|
|
|
|
Net periodic benefit cost:
|
|
|
|
|
Service cost
|
|
$
|
556
|
|
Interest cost
|
|
|
315
|
|
Expected return on plan assets
|
|
|
(233)
|
|
Net periodic benefit cost
|
|
$
|
638
|
|
Other changes in plan assets and benefit obligations recognized as other comprehensive loss (income)
|
|
|
|
|
Net gain
|
|
|
(601)
|
|
Net gain recognized during the period
|
|
|
—
|
|
Total recognized in other comprehensive loss (income)
|
|
$
|
(601)
|
|
Total recognized as net periodic benefit cost and other comprehensive loss (income)
|
|
$
|
37
|
|
Schedule of assumptions used to determine the Company's benefit obligation and net periodic benefit cost |
The assumptions used to determine the Company’s benefit obligation were as of December 31, 2015:
|
|
|
|
|
Discount rate
|
|
4.80%
|
|
Rate of increase in compensation levels
|
|
2.00%
|
The assumptions used to determine the Company’s net periodic benefit cost for the period from October 28, 2015, to December 31, 2015, were:
|
|
|
|
|
Discount rate
|
|
4.69%
|
|
Rate of increase in compensation levels
|
|
2.00%
|
|
Expected long-term rate of return on assets
|
|
7.50%
|
|
Schedule of the Company's Pension Plan target and asset allocations and fair values |
The Company’s Pension Plan target and actual asset allocation as of December 31, 2015, by asset category are shown below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Target
|
|
Actual
|
|
|
|
Allocation
|
|
Allocation
|
|
Asset allocation:
|
|
|
|
|
|
|
|
|
|
|
Equity securities
|
|
60
|
%
|
-
|
70
|
%
|
|
57.8
|
%
|
|
Debt securities
|
|
25
|
%
|
-
|
40
|
%
|
|
33.9
|
%
|
|
Real estate
|
|
5
|
%
|
-
|
15
|
%
|
|
8.3
|
%
|
|
Total
|
|
100.0%
|
|
100.0
|
%
|
The fair values of the Pension Plan assets as December 31, 2015, by asset class were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity securities
|
|
$
|
10,350
|
|
$
|
277
|
|
$
|
—
|
|
$
|
10,627
|
|
Debt securities
|
|
|
1,560
|
|
|
4,679
|
|
|
—
|
|
|
6,239
|
|
Real estate
|
|
|
402
|
|
|
—
|
|
|
1,114
|
|
|
1,516
|
|
Total equity securities
|
|
$
|
12,312
|
|
$
|
4,956
|
|
$
|
1,114
|
|
$
|
18,382
|
|
Schedule of future expected benefit payments |
|
|
|
|
|
|
Expected benefit payments:
|
|
|
|
|
2016
|
|
$
|
210
|
|
2017
|
|
|
289
|
|
2018
|
|
|
395
|
|
2019
|
|
|
512
|
|
2020
|
|
|
611
|
|
2021-2025
|
|
|
5,883
|
|