| Compensation And Retirement Disclosure [Abstract] | Period [Axis] |
|---|
2015-04-01 - 2016-03-31 |
|---|
Compensation And Retirement Disclosure [Abstract] | |
Schedule of Reconciliation of Obligations and Fair Values of Plan Assets |
The following table provides a reconciliation of the obligations and fair values of plan assets for all of our defined benefit plans over the two year period ended March 31, 2016 and a statement of the funded status as of March 31, 2016 and 2015:
|
|
|
For the Years Ended March 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
|
|
(dollars in thousands) |
|
|
Reconciliation of Benefit Obligations - |
|
|
|
|
|
|
|
|
|
Benefit Obligation at April 1, |
$ |
|
41,791 |
|
|
$ |
29,892 |
|
|
Service Cost - Benefits Earned During the Period |
|
|
1,039 |
|
|
|
874 |
|
|
Interest Cost on Projected Benefit Obligation |
|
|
1,525 |
|
|
|
1,278 |
|
|
Amendments |
|
|
— |
|
|
|
805 |
|
|
Actuarial (Gain) Loss |
|
|
(1,146 |
) |
|
|
9,823 |
|
|
Benefits Paid |
|
|
(928 |
) |
|
|
(881 |
) |
|
Benefit Obligation at March 31, |
|
$ |
42,281 |
|
|
$ |
41,791 |
|
|
Reconciliation of Fair Value of Plan Assets - |
|
|
|
|
|
|
|
|
|
Fair Value of Plan Assets at April 1, |
|
$ |
22,055 |
|
|
$ |
21,189 |
|
|
Actual Return on Plan Assets |
|
|
(537 |
) |
|
|
937 |
|
|
Employer Contributions |
|
|
834 |
|
|
|
810 |
|
|
Benefits Paid |
|
|
(928 |
) |
|
|
(881 |
) |
|
Fair Value of Plans at March 31, |
|
|
21,424 |
|
|
|
22,055 |
|
|
Funded Status - |
|
|
|
|
|
|
|
|
|
Unfunded Status at March 31, |
|
$ |
(20,857 |
) |
|
$ |
(19,736 |
) |
|
Amounts Recognized in the Balance Sheet Consist of - |
|
|
|
|
|
|
|
|
|
Accrued Benefit Liability |
|
$ |
(20,857 |
) |
|
$ |
(19,736 |
) |
|
Accumulated Other Comprehensive Losses: |
|
|
|
|
|
|
|
|
|
Net Actuarial Loss |
|
|
17,746 |
|
|
|
18,376 |
|
|
Prior Service Cost |
|
|
509 |
|
|
|
809 |
|
|
Accumulated Other Comprehensive Losses |
|
$ |
18,255 |
|
|
$ |
19,185 |
|
|
Tax impact |
|
|
(6,846 |
) |
|
|
(7,118 |
) |
|
Accumulated Other Comprehensive Losses, net of tax |
|
$ |
11,409 |
|
|
$ |
12,067 |
|
|
Schedule of Accumulated Benefit Obligation in Excess of Plan Assets |
Information for pension plans with an accumulated benefit obligation in excess of plan assets:
|
|
|
March 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
|
|
(dollars in thousands) |
|
|
Projected Benefit Obligation |
|
$ |
42,281 |
|
|
$ |
41,791 |
|
|
Accumulated Benefit Obligation |
|
$ |
42,236 |
|
|
$ |
41,790 |
|
|
Fair Value of Plan Assets |
|
$ |
21,424 |
|
|
$ |
22,055 |
|
|
Components of Net Periodic Cost |
Net periodic pension cost for the fiscal years ended March 31, 2016, 2015 and 2014, included the following components:
|
|
|
For the Years Ended March 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
|
|
(dollars in thousands) |
|
|
Service Cost - Benefits Earned During the Period |
|
$ |
1,039 |
|
|
$ |
874 |
|
|
$ |
1,129 |
|
|
Interest Cost of Projected Benefit Obligation |
|
|
1,525 |
|
|
|
1,278 |
|
|
|
1,222 |
|
|
Expected Return on Plan Assets |
|
|
(1,751 |
) |
|
|
(1,680 |
) |
|
|
(1,506 |
) |
|
Recognized Net Actuarial Loss |
|
|
300 |
|
|
|
609 |
|
|
|
921 |
|
|
Amortization of Prior-Service Cost |
|
|
1,773 |
|
|
|
11 |
|
|
|
11 |
|
|
Net Periodic Pension Cost |
|
$ |
2,886 |
|
|
$ |
1,092 |
|
|
$ |
1,777 |
|
|
Schedule of Expected Benefit Payments |
Expected benefit payments over the next five years, and the following five years under the pension plans are expected to be as follows (in thousands):
|
Fiscal Years |
|
Total |
|
|
2017 |
|
$ |
1,320 |
|
|
2018 |
|
$ |
1,396 |
|
|
2019 |
|
$ |
1,488 |
|
|
2020 |
|
$ |
1,611 |
|
|
2021 |
|
$ |
1,737 |
|
|
2022-2026 |
|
$ |
10,524 |
|
|
Schedule of Assumptions Used in Net Periodic Benefit Cost and Benefit Obligations |
The following table sets forth the assumptions used in the actuarial calculations of the present value of net periodic benefit cost and benefit obligations:
|
|
|
March 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Net Periodic Benefit Costs - |
|
|
|
|
|
|
|
|
|
|
|
|
|
Discount Rate |
|
|
3.70 |
|
% |
|
4.41 |
% |
|
|
4.20 |
% |
|
Expected Return on Plan Assets |
|
|
8.00 |
|
% |
|
8.00 |
% |
|
|
8.00 |
% |
|
Rate of Compensation Increase |
|
|
3.50 |
|
% |
|
3.50 |
% |
|
|
3.50 |
% |
|
|
|
March 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
Benefit Obligations - |
|
|
|
|
|
|
|
|
|
Discount Rate |
|
|
3.83% |
|
|
|
3.70 |
% |
|
Rate of Compensation Increase |
|
|
3.50% |
|
|
|
3.50 |
% |
|
Schedule of Pension Plans Weighted-Average Asset Allocation and Range of Target Allocation |
The pension plans’ approximate weighted-average asset allocation at March 31, 2016 and 2015 and the range of target allocation are as follows:
|
|
|
Range of
Target
Allocation |
|
|
Percentage of Plan
Assets at March 31, |
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
|
2015 |
|
|
Asset Category - |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Securities |
|
|
40 – 60 |
% |
|
|
66% |
|
|
|
61% |
|
|
Debt Securities |
|
|
35 – 60 |
% |
|
|
33% |
|
|
|
36% |
|
|
Other |
|
|
0 – 5 |
% |
|
|
1% |
|
|
|
3% |
|
|
Total |
|
|
|
|
|
|
100% |
|
|
|
100% |
|
|
Schedule of Fair Values of Defined Benefit Plans |
The fair values of our defined benefit plans’ consolidated assets by category as of March 31, 2016 and 2015 were as follows:
|
|
|
March 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
|
|
(dollars in thousands) |
|
|
Equity Securities |
|
$ |
14,083 |
|
|
$ |
13,510 |
|
|
Fixed Income Securities |
|
|
7,047 |
|
|
|
7,985 |
|
|
Real Estate Funds |
|
|
129 |
|
|
|
133 |
|
|
Commodity Linked Funds |
|
|
50 |
|
|
|
124 |
|
|
Cash Equivalents |
|
|
115 |
|
|
|
303 |
|
|
Total |
|
$ |
21,424 |
|
|
$ |
22,055 |
|
|
Schedule of Fair Values of Defined Benefit Plans Determined Using Fair Value Hierarchy of Inputs |
The fair values by category of inputs as of March 31, 2016 were as follows:
|
Asset Categories |
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Total |
|
|
|
|
(dollars in thousands) |
|
|
Equity Securities |
|
$ |
— |
|
|
$ |
14,083 |
|
|
$ |
— |
|
|
$ |
14,083 |
|
|
Fixed Income Securities |
|
|
— |
|
|
|
7,047 |
|
|
|
— |
|
|
|
7,047 |
|
|
Real Estate Funds |
|
|
— |
|
|
|
129 |
|
|
|
— |
|
|
|
129 |
|
|
Commodity Linked Funds |
|
|
— |
|
|
|
50 |
|
|
|
— |
|
|
|
50 |
|
|
Cash Equivalents |
|
|
115 |
|
|
|
— |
|
|
|
— |
|
|
|
115 |
|
|
|
|
$ |
115 |
|
|
$ |
21,309 |
|
|
$ |
— |
|
|
$ |
21,424 |
|
The fair values by category of inputs as of March 31, 2015 were as follows:
|
Asset Categories |
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) |
|
|
Significant Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
|
Total |
|
|
|
|
(dollars in thousands) |
|
|
Equity Securities |
|
$ |
— |
|
|
$ |
13,510 |
|
|
$ |
— |
|
|
$ |
13,510 |
|
|
Fixed Income Securities |
|
|
— |
|
|
|
7,985 |
|
|
|
— |
|
|
|
7,985 |
|
|
Real Estate Funds |
|
|
— |
|
|
|
133 |
|
|
|
— |
|
|
|
133 |
|
|
Commodity Linked Funds |
|
|
— |
|
|
|
124 |
|
|
|
— |
|
|
|
124 |
|
|
Cash Equivalents |
|
|
303 |
|
|
|
— |
|
|
|
— |
|
|
|
303 |
|
|
|
|
$ |
303 |
|
|
$ |
21,752 |
|
|
$ |
— |
|
|
$ |
22,055 |
|
|