Rendering

Component: (Network and Table)
Network
2328301 - Disclosure - Employee Benefit Plans (Tables)
(http://www.conmed.com/role/EmployeeBenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Schedule of reconciliation of the projected benefit obligation, plan assets and funded status of the pension plan
The following table provides a reconciliation of the projected benefit obligation, plan assets and funded status of the pension plan at December 31:

 
2016
 
2015
 
 
 
 
Accumulated Benefit Obligation
$
82,005

 
$
78,437

 
 
 
 
Change in benefit obligation
 

 
 

Projected benefit obligation at beginning of year
$
78,437

 
$
91,107

Service cost
452

 
240

Interest cost
2,878

 
3,394

Actuarial (gain) loss
4,844

 
(11,806
)
Benefits paid
(1,814
)
 
(1,620
)
Settlement
(2,792
)
 
(2,878
)
Projected benefit obligation at end of year
$
82,005

 
$
78,437

 
 
 
 
Change in plan assets
 

 
 

Fair value of plan assets at beginning of year
$
67,168

 
$
73,431

Actual gain (loss) on plan assets
6,499

 
(1,765
)
Benefits paid
(1,814
)
 
(1,620
)
Settlement
(2,792
)
 
(2,878
)
Fair value of plan assets at end of year
$
69,061

 
$
67,168

 
 
 
 
Funded status
$
(12,944
)
 
$
(11,269
)
 
 
Schedule of amounts recognized in the consolidated balance sheets
Amounts recognized in the consolidated balance sheets consist of the following at December 31,:

 
2016
 
2015
 
 
 
 
Other long-term liabilities
$
(12,944
)
 
$
(11,269
)
Accumulated other comprehensive loss
(41,960
)
 
(41,205
)
 
 
Schedule of actuarial assumptions used
The following actuarial assumptions were used to determine our net periodic pension benefit cost for the years ended December 31,:

 
2016
 
2015
 
2014
 
 
 
 
 
 
Discount rate on benefit obligation
4.54
%
 
3.81
%
 
4.75
%
Effective rate for interest on benefit obligation
3.77
%
 
3.81
%
 
4.75
%
Expected return on plan assets
8.00
%
 
8.00
%
 
8.00
%
The following actuarial assumptions were used to determine our accumulated and projected benefit obligations as of December 31,:

 
2016
 
2015
 
 
 
 
Discount rate
4.28
%
 
4.54
%
 
 
Schedule of plan assets and benefit obligations recognized in other comprehensive income
Other changes in plan assets and benefit obligations recognized in other comprehensive income in 2016 are as follows:
 
Current year actuarial loss
$
(3,535
)
Amortization of actuarial loss
2,780

Total recognized in other comprehensive loss
$
(755
)
 
 
Schedule of net benefit cost
Net periodic pension cost for the years ended December 31, consists of the following:

 
2016
 
2015
 
2014
 
 
 
 
 
 
Service cost
$
452

 
$
240

 
$
271

Interest cost on projected benefit obligation
2,878

 
3,394

 
3,465

Expected return on plan assets
(5,189
)
 
(5,697
)
 
(2,297
)
Amortization of loss
2,780

 
3,233

 
(2,048
)
Net periodic pension (income) cost
$
921

 
$
1,170

 
$
(609
)
 
 
Schedule of allocation of plan assets
The following table sets forth by level, within the fair value hierarchy, the pension plan's assets at fair value as of December 31, 2016 and December 31, 2015:
December 31, 2016
Level 1
 
Level 2
 
Total
 
 
 
 
 
 
Common Stock
$
34,856

 
$

 
$
34,856

Money Market Fund

 
1,710

 
1,710

Mutual Funds
24,626

 

 
24,626

Fixed Income Securities
7,869

 

 
7,869

 
$
67,351

 
$
1,710

 
$
69,061


December 31, 2015
Level 1
 
Level 2
 
Total
 
 
 
 
 
 
Common Stock
$
34,466

 
$

 
$
34,466

Money Market Fund

 
1,302

 
1,302

Mutual Funds
23,576

 

 
23,576

Fixed Income Securities
7,824

 

 
7,824

 
$
65,866

 
$
1,302

 
$
67,168

The allocation of pension plan assets by category is as follows at December 31,:

 
Percentage of Pension
Plan Assets
 
Target
Allocation
 
2016
 
2015
 
2017
 
 
 
 
 
 
Equity securities
86
%
 
86
%
 
75
%
Debt securities
14

 
14

 
25

Total
100
%
 
100
%
 
100
%
 
 
Schedule of expected benefit payments
The following table summarizes the benefits and settlements expected to be paid by our pension plan in each of the next five years and in aggregate for the following five years. The expected payments are estimated based on the same assumptions used to measure the Company’s projected benefit obligation at December 31, 2016 and reflect the impact of expected future employee service.
 
2017

$5,033

2018
5,368

2019
5,465

2020
5,696

2021
5,545

2022-2026
25,194