Pensions and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2013

Defined Benefit Plan Disclosure [Line Items]

Retirement Plan amounts recorded on consolidated balance sheets

The following table summarizes amounts recorded on the consolidated balance sheets associated with these various retirement benefit plans:

	December 31,
	2013			2012
Included in "Other Assets":
U.S. pension plans	$	15,708		$	-
Non-U.S. pension plans		257			143
Total included in other assets	$	15,965		$	143
Included in "Accrued Payroll":
U.S. pension plans	$	(51	)	$	(83	)
Non-U.S. pension plans		(7,644	)		(6,997	)
U.S. other postretirement plans		(638	)		(637	)
Total included in accrued payroll	$	(8,333	)	$	(7,717	)
Accrued pension and other postretirement costs:
U.S. pension plans	$	(35,397	)	$	(89,116	)
Non-U.S. pension plans		(224,280	)		(229,014	)
U.S. other postretirement plans		(6,703	)		(7,520	)
Non-U.S. other postretirement plans		(7,504	)		(6,964	)
Other retirement obligations		(14,017	)		(12,347	)
Total accrued pension and other postretirement costs	$	(287,901	)	$	(344,961	)
Accumulated other comprehensive loss:
U.S. pension plans	$	84,384		$	146,525
Non-U.S. pension plans		61,652			71,459
U.S. other postretirement plans		(5,782	)		(5,937	)
Non-U.S. other postretirement plans		1,246			805
Total accumulated other comprehensive loss*	$	141,500		$	212,852

* - Amounts included in accumulated other comprehensive loss are presented in this table pre-tax.

Reconciliation of benefit obligation, plan assets, and funded status

Note 11 – Pensions and Other Postretirement Benefits (continued)

The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to U.S. and non-U.S. pension plans:

	December 31, 2013						December 31, 2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Change in benefit obligation:
Benefit obligation at beginning of year	$	355,065		$	282,448		$	322,527		$	243,966
Service cost		-			3,499			-			3,247
Interest cost		13,882			8,150			15,699			9,374
Plan amendments		-			23			-			67
Actuarial (gains) losses		(34,703	)		(5,134	)		35,467			29,957
Benefits paid		(18,871	)		(13,980	)		(18,628	)		(11,456	)
Currency translation		-			5,520			-			7,293
Benefit obligation at end of year	$	315,373		$	280,526		$	355,065		$	282,448
Change in plan assets:
Fair value of plan assets at beginning
of year	$	265,866		$	46,580		$	239,045			35,544
Actual return on plan assets		31,018			2,482			27,763			2,795
Company contributions		17,620			14,781			17,686			17,905
Benefits paid		(18,871	)		(13,980	)		(18,628	)		(11,456	)
Currency translation		-			(1,004	)		-			1,792
Fair value of plan assets at end of year	$	295,633		$	48,859		$	265,866		$	46,580
Funded status at end of year	$	(19,740	)	$	(231,667	)	$	(89,199	)	$	(235,868	)

The following table sets forth a reconciliation of the benefit obligation, plan assets, and accrued benefit cost related to U.S. and non-U.S. non-pension defined benefit postretirement plans:

	December 31, 2013						December 31, 2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Change in benefit obligation:
Benefit obligation at beginning of year	$	8,157		$	6,964		$	10,924		$	5,972
Service cost		111			299			106			253
Interest cost		314			257			366			286
Plan amendments		-			-			(3,297	)		-
Actuarial (gains) losses		(639	)		398			660			1,022
Benefits paid		(602	)		(740	)		(602	)		(704	)
Currency translation		-			326			-			135
Benefit obligation at end of year	$	7,341		$	7,504		$	8,157		$	6,964
Fair value of plan assets at end of year	$	-		$	-		$	-		$	-
Funded status at end of year	$	(7,341	)	$	(7,504	)	$	(8,157	)	$	(6,964	)

Amounts recognized in consolidated balance sheet

Amounts recognized in the consolidated balance sheet consist of the following:

	December 31, 2013						December 31, 2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Other assets	$	15,708		$	257		$	-		$	143
Accrued benefit liability - currrent		(51	)		(7,644	)		(83	)		(6,997	)
Accrued benefit liability - non-current		(35,397	)		(224,280	)		(89,116	)		(229,014	)
Accumulated other comprehensive loss		84,384			61,652			146,525			71,459
	$	64,644		$	(170,015	)	$	57,326		$	(164,409	)

Amounts recognized in the consolidated balance sheet consist of the following:

	December 31, 2013						December 31, 2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Accrued benefit liability - current	$	(638	)	$	-		$	(637	)	$	-
Accrued benefit liability - non-current		(6,703	)		(7,504	)		(7,520	)		(6,964	)
Accumulated other comprehensive income		(5,782	)		1,246			(5,937	)		805
	$	(13,123	)	$	(6,258	)	$	(14,094	)	$	(6,159	)

Components of actuarial items

Note 11 – Pensions and Other Postretirement Benefits (continued)

Actuarial items consist of the following:

	December 31, 2013				December 31, 2012
	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
Unrecognized net actuarial loss	$	83,161	$	61,652	$	144,324	$	71,459
Unamortized prior service cost		1,223		-		2,201		-
	$	84,384	$	61,652	$	146,525	$	71,459

Note 11 – Pensions and Other Postretirement Benefits (continued)

Actuarial items consist of the following:

	December 31, 2013					December 31, 2012
	U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans
Unrecognized net actuarial gain	$	(2,301	)	$	1,246	$	(1,657	)	$	805
Unamortized prior service (credit) cost		(3,481	)		-		(4,280	)		-
	$	(5,782	)	$	1,246	$	(5,937	)	$	805

Projected and accumulated benefit obligations

The following table sets forth additional information regarding the projected and accumulated benefit obligations:

	December 31, 2013				December 31, 2012
	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
Accumulated benefit obligation, all plans	$	315,373	$	260,558	$	355,065	$	261,557
Plans for which the accumulated benefit
obligation exceeds plan assets:
Projected benefit obligation	$	35,448	$	251,569	$	355,065	$	255,772
Accumulated benefit obligation		35,448		238,419		355,065		240,816
Fair value of plan assets		-		21,356		265,866		20,436

Components of the net periodic benefit costs

The following table sets forth the components of net periodic pension cost:

	Years ended December 31,
	2013						2012						2011
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Service cost net of employee contributions	$	-		$	3,499		$	-		$	3,247		$	-		$	3,197
Interest cost		13,882			8,150			15,699			9,374			16,332			10,366
Expected return on plan assets		(19,124	)		(2,084	)		(18,972	)		(1,667	)		(19,082	)		(1,651	)
Amortization of actuarial losses		14,566			3,407			12,960			1,681			9,006			993
Amortization of prior service cost		978			(12	)		2,200			60			2,361			531
Curtailment and settlement losses (gains)		-			959			-			-			148			-
Net periodic benefit cost	$	10,302		$	13,919		$	11,887		$	12,695		$	8,765		$	13,436

The following table sets forth the components of net periodic benefit cost:

	Years ended December 31,
	2013					2012					2011
	U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans
Service cost	$	111		$	299	$	106		$	253	$	77		$	275
Interest cost		314			257		366			286		547			282
Amortization of actuarial gains		4			8		(76	)		-		(315	)		-
Amortization of prior service credit		(798	)		-		(798	)		-		(431	)		-
Amortization of transition obligation		-			-		32			-		47			-
Net periodic benefit cost	$	(369	)	$	564	$	(370	)	$	539	$	(75	)	$	557

Weighted average assumptions used

The following weighted average assumptions were used to determine benefit obligations at December 31 of the respective years:

	2013						2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Discount rate		5.00	%		3.11	%		4.00	%		3.04	%
Rate of compensation increase		0.00	%		1.99	%		0.00	%		1.48	%

The following weighted average assumptions were used to determine the net periodic pension costs for the years ended December 31, 2013 and 2012:

	Years ended December 31,
	2013						2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Discount rate		4.00	%		3.04	%		5.00	%		3.96	%
Rate of compensation increase		0.00	%		1.48	%		0.00	%		2.31	%
Expected return on plan assets		7.25	%		4.44	%		8.00	%		4.47	%

The following weighted average assumptions were used to determine benefit obligations at December 31 of the respective years:

	2013						2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Discount rate		5.00	%		3.44	%		4.00	%		3.80	%
Rate of compensation increase		0.00	%		3.19	%		0.00	%		3.20	%

The following weighted average assumptions were used to determine the net periodic benefit costs for the years ended December 31, 2013 and 2012:

	Years ended December 31,
	2013						2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Discount rate		4.00	%		3.80	%		5.00	%		5.09	%
Rate of compensation increase		0.00	%		3.20	%		0.00	%		3.22	%

Estimated future benefit payments

Note 11 – Pensions and Other Postretirement Benefits (continued)

Estimated future benefit payments are as follows:

	U.S. Plans		Non-U.S. Plans
2014	$	19,128	$	14,249
2015		19,451		14,082
2016		19,780		14,501
2017		26,378		16,769
2018		21,926		15,292
2019-2023		109,815		90,491

Note 11 – Pensions and Other Postretirement Benefits (continued)

Estimated future benefit payments are as follows:

	U.S. Plans		Non-U.S. Plans
2014	$	638	$	420
2015		720		267
2016		704		329
2017		693		453
2018		678		551
2019-2023		2,940		3,650