Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS. (Tables)

v3.19.1
FAIR VALUE MEASUREMENTS. (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements

The following table summarizes recurring fair value measurements by level at December 31, 2018 (in thousands):

 

                            Benefit Plan  
    Fair                       Percentage  
    Value     Level 1     Level 2     Level 3     Allocation  
Assets:                                        
Derivative financial instruments   $ 1,765     $ 1,765     $     $          
Defined benefit plan assets(1)                                        
(pooled separate accounts):                                        
Large U.S. Equity(2)     3,621             3,621             27 %
Small/Mid U.S. Equity(3)     1,844             1,844             14 %
International Equity(4)     2,106             2,106             16 %
Fixed Income(5)     5,686             5,686             43 %
    $ 15,022     $ 1,765     $ 13,257     $          
Liabilities:                                        
Derivative financial instruments   $ (6,309 )   $ (6,309 )   $     $          

  

                            Benefit Plan  
    Fair                       Percentage  
    Value     Level 1     Level 2     Level 3     Allocation  
Assets:                                        
Derivative financial instruments   $ 998     $ 998     $     $          
Defined benefit plan assets(1)                                        
(pooled separate accounts):                                        
Large U.S. Equity(2)     3,748             3,748             27 %
Small/Mid U.S. Equity(3)     2,018             2,018             14 %
International Equity(4)     2,528             2,528             18 %
Fixed Income(5)     5,664             5,664             41 %
    $ 14,956     $ 998     $ 13,958     $          
Liabilities:                                        
Derivative financial instruments   $ (2,307 )   $ (2,307 )   $     $          

 

  (1) See Note 9 for accounting discussion.

  

  (2) This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

  

  (3) This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

  

  (4) This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

  

  (5) This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.