Quarterly report pursuant to Section 13 or 15(d)

Employee Retirement Plans

v3.8.0.1
Employee Retirement Plans
 9 Months Ended
Sep. 30, 2017
Employee Retirement Plans  
Employee Retirement Plans

9.                  Employee Retirement Plans

 

The components of net periodic pension cost consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

September 30,

 

September 30,

 

 

2017

 

2016

 

2017

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Component of net periodic pension cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

89

 

$

80

 

$

267

 

$

241

Interest cost

 

 

403

 

 

410

 

 

1,209

 

 

1,229

Expected return on plan assets

 

 

(448)

 

 

(456)

 

 

(1,344)

 

 

(1,368)

Amortization of net loss

 

 

181

 

 

181

 

 

543

 

 

543

Net periodic pension cost

 

$

225

 

$

215

 

$

675

 

$

645

 

 

The Company estimates its total required minimum contributions to its pension plans in 2017 will be $216.  Through September 30, 2017, the Company has made $655 of cash contributions to the pension plans versus $711 through the same period in 2016.

Components of net periodic other postretirement benefit cost consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

September 30,

 

September 30,

 

 

2017

 

2016

 

2017

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Component of periodic other postretirement benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

51

 

$

52

 

$

153

 

$

158

Interest cost

 

 

70

 

 

69

 

 

210

 

 

209

Amortization of net gain

 

 

(27)

 

 

(31)

 

 

(81)

 

 

(95)

Net periodic other postretirement benefit  cost

 

$

94

 

$

90

 

$

282

 

$

272