Quarterly report pursuant to Section 13 or 15(d)

Multi-Employer and Defined Benefit Pension Plans

v3.20.2
Multi-Employer and Defined Benefit Pension Plans
6 Months Ended
Jun. 30, 2020
Retirement Benefits [Abstract]  
Multi-Employer and Defined Benefit Pension Plans
13. MULTI-EMPLOYER AND DEFINED BENEFIT PENSION PLANS
During the six months ended June 30, 2020, the Company received notification from the AMOPP that the Company’s withdrawal liability as of September 30, 2019, the latest period for which an actuarial valuation is available, would have been $25.5 million. That liability may change in future years based on various factors, primarily employee census. As of June 30, 2020, the Company has no intention to withdraw from the AMOPP and no deficit amounts have been invoiced. Depending upon the results of the future actuarial valuations, it is possible that the AMOPP may experience future funding deficits, requiring the Company to recognize additional payroll related operating expenses in the periods invoices are received or contribution levels are increased.