Quarterly report pursuant to Section 13 or 15(d)

Employee Retirement Plans

v3.5.0.2
Employee Retirement Plans
 9 Months Ended
Sep. 30, 2016
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,

 

 

2016

 

2015

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Component of net periodic pension cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$
80

 

$
64

 

$
241

 

$
192

Interest cost

 

 
410

 

 
372

 

 
1,229

 

 
1,116

Expected return on plan assets

 

 
(456)

 

 
(407)

 

 
(1,368)

 

 
(1,221)

Amortization of net loss

 

 
181

 

 
255

 

 
543

 

 
765

Net periodic pension cost

 

$
215

 

$
284

 

$
645

 

$
852

 

 

The Company estimates its total required minimum contributions to its pension plans in 2016 will be $967.  Through September 30, 2016, the Company has made $711 of cash contributions to the pension plans versus $572 through the same period in 2015.

 

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,

 

 

2016

 

2015

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Component of periodic other postretirement benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$
52

 

$
57

 

$
158

 

$
171

Interest cost

 

 
69

 

 
64

 

 
209

 

 
192

Amortization of net gain

 

 
(31)

 

 
(17)

 

 
(95)

 

 
(51)

Net periodic other postretirement benefit  cost

 

$
90

 

$
104

 

$
272

 

$
312