Quarterly report pursuant to Section 13 or 15(d)

BENEFIT PLANS (Tables)

v3.7.0.1
BENEFIT PLANS (Tables)
 6 Months Ended
Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]  
Schedule of Net Benefit Costs
The following table shows the components of net periodic (benefit) cost for all plans:
 
Pension Benefits
 
Post-Retirement Benefits
 
Three Months Ended June 30,
 
Three Months Ended June 30,
(dollar amounts in thousands)
2017
 
 
2016
 
2017
 
 
2016
Service cost
$
640

 
 
$
1,025

 
$
21

 
 
$
—

Interest cost
7,478

 
 
6,748

 
99

 
 
54

Expected return on plan assets
(13,803
)
 
 
(10,224
)
 
—

 
 
—

Amortization of prior service cost
—

 
 
—

 
(492
)
 
 
(492
)
Amortization of (gain) loss
1,747

 
 
1,865

 
(54
)
 
 
(72
)
Settlements
2,500

 
 
3,400

 
—

 
 
—

Net periodic (benefit) cost
$
(1,438
)
(1
)
 
$
2,814

 
$
(426
)
(1
)
 
$
(510
)

(1)
Includes expense associated with FirstMerit plans.
 
Pension Benefits
 
Post-Retirement Benefits
 
Six Months Ended June 30,
 
Six Months Ended June 30,
(dollar amounts in thousands)
2017
 
 
2016
 
2017
 
 
2016
Service cost
$
1,280

 
 
$
2,050

 
$
43

 
 
$
—

Interest cost
14,955

 
 
13,496

 
198

 
 
109

Expected return on plan assets
(27,606
)
 
 
(20,447
)
 
—

 
 
—

Amortization of prior service cost
—

 
 
—

 
(984
)
 
 
(984
)
Amortization of (gain) loss
3,494

 
 
3,729

 
(109
)
 
 
(144
)
Settlements
5,000

 
 
6,800

 
—

 
 
—

Net periodic (benefit) cost
$
(2,877
)
(1
)
 
$
5,628

 
$
(852
)
(1
)
 
$
(1,019
)

(1)
Includes expense associated with FirstMerit plans.
Schedule of Costs of Retirement Plans
defined contribution plans during the second quarter 2017 and 2016 was $11 million and $8 million, respectively. For the six-month periods ended June 30, 2017 and 2016, expense related to the defined contribution plans were $22 million and $16 million, respectively.