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Benefit Plans And Obligations For Termination Indemnity (Tables)
 12 Months Ended
Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]  
Plans' Funded Status And Amounts Recognized In The Consolidated Financial Statements
The following table sets forth the Plans’ funded status and amounts recognized in the consolidated financial statements for the years ended December 31, 2019 and 2018:
 
December 31,
 
2019
 
2018
Changes in benefit obligation:
 
 
 
Benefit obligation at beginning of year
$
628,424

 
$
267,141

Benefit obligation related to acquired companies
111,654

 
378,055

Service cost
18,305

 
8,391

Interest cost
19,723

 
9,631

Exchange rate differences
29,778

 
43

Amendments
3,689

 
—

Actuarial loss (gain)
90,847

 
(20,337
)
Benefits paid
(75,684
)
 
(7,560
)
Effect of curtailment
—

 
(6,940
)
Other adjustments
4,375

 
—

Benefit obligation at end of year
$
831,111

 
$
628,424

Changes in the Plans’ assets:
 
 
 

Fair value of Plans’ assets at beginning of year
164,282

 
167,961

Benefit assets related to acquired companies
91,724

 
—

Actual return on Plans’ assets (net of expenses)
37,901

 
(11,121
)
Employer contribution
3,716

 
15,002

Benefits paid
(8,130
)
 
(7,560
)
Fair value of Plans’ assets at end of year
$
289,493

 
$
164,282

Accrued benefit cost, end of year:
 
 
 

Funded status
(541,623
)
 
(464,142
)
Unrecognized net actuarial loss
123,736

 
60,141

Unrecognized prior service cost
8

 
24

 
$
(417,879
)
 
$
(403,977
)
Amount recognized in the statement of financial position:
 
 
 

Accrued benefit liability, current
(37,158
)
 
(6,040
)
Accrued benefit liability, non-current
(504,465
)
 
(458,102
)
Accumulated other comprehensive income, pre-tax
123,744

 
60,165

Net amount recognized
$
(417,879
)
 
$
(403,977
)
Components Of Net Periodic Pension Cost
 
Year ended December 31,
 
2019
 
2018
 
2017
Components of the Plans’ net periodic pension cost:
 
 
 
 
 
Service cost
$
18,305

 
$
8,391

 
$
7,655

Interest cost
19,723

 
9,631

 
9,108

Expected return on  Plans’ assets
(13,507
)
 
(12,080
)
 
(10,203
)
Amortization of prior service cost
16

 
64

 
64

Amortization of net actuarial loss
4,809

 
5,884

 
6,161

Total net periodic benefit cost
$
29,346

 
$
11,890

 
$
12,785

Additional information
 

 
 

 
 

Accumulated benefit obligation
$
781,749

 
$
628,017

 
$
259,242
Weighted Average Assumptions
 
December 31,
 
2019
 
2018
Weighted average assumptions:
 
 
 

Discount rate as of December 31
1.9
%
 
3.1
%
Expected long-term rate of return on Plans’ assets
7.2
%
 
7.1
%
Rate of compensation increase
0.6
%
 
3.0
%
Asset Allocation By Category
Asset allocation by category as of December 31:
 
2019
 
2018
Asset Category:
 
 
 
Equity Securities
67.2
%
 
61.3
%
Debt Securities
32.1
%
 
38.2
%
Other
0.7
%
 
0.5
%
Total
100.0
%
 
100.0
%
Target Asset Allocation For The Plan
The investment policy of ESA is directed toward a broad range of securities. The diversified portfolio seeks to maximize investment return while minimizing the risk levels associated with investing. The investment policy is structured to consider the Plans' obligations and the expected timing of benefit payments. The target asset allocation for the Plans' years presented is as follows:
 
2019
 
2018
Asset Category:
 
 
 
Equity Securities
63.0
%
 
63.0
%
Debt Securities
36.0
%
 
36.0
%
Other
1.0
%
 
1.0
%
Total
100.0
%
 
100.0
%
Fair Value Of The Asset Values By Category
The fair value of the asset values by category at December 31, 2019, was as follows:
 
 
 
Quoted Prices in Active Markets for Identical Assets
 
Significant Observable Inputs
 
Significant Unobservable Inputs
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
Asset Category
 
 
 
 
 
 
 
Cash
$
18

 
$
18

 
$
—

 
$
—

Cash Equivalents:
 

 
 

 
 

 
 

Money Market Funds (a)
1,899

 
1,899

 
—

 
—

Fixed Income Securities:
 
 
 
 
 
 
 
Mutual Funds (b)
93,149

 
93,149

 
—

 
—

Equity Securities:
 
 
 
 
 
 
 

International Companies (c)
6,016

 
6,016

 
—

 
—

Mutual Funds (d)
188,411

 
188,411

 
—

 
—

Total
$
289,493

 
$
289,493

 
$
—

 
$
—


a.
This category includes highly liquid daily traded cash-like vehicles.
b.
This category invests in highly liquid mutual funds representing a diverse offering of debt issuance.
c.
This category represents common stocks of companies domiciled outside of the U.S.; they can be represented by ordinary shares or ADRs.
d.
This category represents highly liquid diverse equity mutual funds of varying asset classes and styles.
Effect Of A 1% Change In The Health Care Cost Trend Rate
The effect of a 1% change in the health care cost trend rate at December 31, 2019 was as follows:
 
1% increase
 
1% decrease
Net periodic benefit cost
$
17

 
$
(14
)
Benefit obligation
$
111

 
$
(99
)
Retiree Medical Plan  
Defined Benefit Plan Disclosure [Line Items]  
Plans' Funded Status And Amounts Recognized In The Consolidated Financial Statements The measurement date for ESA's benefit obligation is December 31. The following table sets forth the retiree medical plans’ funded status and amounts recognized in the consolidated financial statements for the years ended December 31, 2019 and 2018:
 
December 31,
 
2019
 
2018
Change in Benefit Obligation:
 
 
 
Benefit obligation at beginning of period
$
1,359

 
$
1,641

Service cost
81

 
71

Interest cost
51

 
50

Actuarial (gain) loss
(34
)
 
(353
)
Employee contribution
17

 
19

Benefits paid
(61
)
 
(69
)
Benefit obligation at end of period
$
1,413

 
$
1,359

Change in Plan Assets:
 
 
 

Employer contribution
$
45

 
$
50

Employee contribution
16

 
19

Benefits paid
(61
)
 
(69
)
Fair value of Plan assets at end of period
$
—

 
$
—



 
Year ended December 31,
 
2019
 
2018
Accrued benefit cost, end of period:
 
 
 
Funded status
$
(1,412
)
 
$
(1,359
)
Unrecognized net actuarial (gain) loss
(1,479
)
 
(1,610
)
Accrued benefit cost, end of period
$
(2,891
)
 
$
(2,969
)
Amounts recognized in the statement of financial position:
 

 
 

Accrued benefit liability, current
$
(86
)
 
$
(112
)
Accrued benefit liability, non-current
(1,326
)
 
(1,247
)
Accumulated other comprehensive gain, pretax
(1,479
)
 
(1,610
)
Net amount recognized
$
(2,891
)
 
$
(2,969
)

Components of net periodic pension cost (for period):
 
 
 
Service cost
$
81

 
$
71

Interest cost
51

 
50

Amortization of net actuarial gain
(165
)
 
(164
)
Total net periodic benefit cost
$
(33
)
 
$
(43
)

Assumptions as of end of period:
 
 

Discount rate
2.84
%
 
3.91
%
Health care cost trend rate assumed for next year
5.50
%
 
5.40
%
Ultimate health care cost trend rate
3.84
%
 
3.84
%