Pension and Postretirement Plans (Tables)

12 Months Ended

Dec. 31, 2018

Defined Benefit Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Amounts Recognized in Balance Sheet

The amounts recognized in the Company’s Consolidated Balance Sheets for its defined benefit pension plans are as follows:

	Pension Plans				SERP
	As of December 31				As of December 31
(in thousands)	2018		2017		2018			2017
Noncurrent asset	$	1,003,558	$	1,056,777	$	—		$	—
Current liability	—		—		(6,321		)	(5,838		)
Noncurrent liability	—		—		(96,227		)	(104,244		)
Recognized Asset (Liability)	$	1,003,558	$	1,056,777	$	(102,548	)	$	(110,082	)

Schedule of Estimated Benefit Payments

At December 31, 2018, future estimated benefit payments, excluding charges for early retirement programs, are as follows:

(in thousands)	Pension Plans		SERP
2019	$	76,245	$	6,456
2020	$	76,715	$	6,743
2021	$	75,956	$	6,946
2022	$	75,909	$	7,078
2023	$	75,389	$	7,149
2024–2028	$	367,130	$	35,656

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (AOCI) includes the following components of unrecognized net periodic cost for the defined benefit plans:

	Pension Plans						SERP
	As of December 31						As of December 31
(in thousands)	2018			2017			2018			2017
Unrecognized actuarial (gain) loss	$	(313,809	)	$	(461,779	)	$	17,270		$	27,225
Unrecognized prior service cost	7,273			270			1,037			320
Gross Amount	(306,536		)	(461,509		)	18,307			27,545
Deferred tax liability (asset)	82,765			124,607			(4,943		)	(7,437		)
Net Amount	$	(223,771	)	$	(336,902	)	$	13,364		$	20,108

Defined Benefit Plans [Member] | Benefit Obligation [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used

Key assumptions utilized for determining the benefit obligation are as follows:

	Pension Plans		SERP
	As of December 31		As of December 31
	2018	2017	2018	2017
Discount rate	4.3%	3.6%	4.3%	3.6%
Rate of compensation increase – age graded	5.0%–1.0%	5.0%–1.0%	5.0%–1.0%	5.0%–1.0%
Cash balance interest crediting rate	3.50% with phase in to 4.30% in 2021	2.23% with phase in to 3.00% in 2020	—	—

Defined Benefit Plans [Member] | Periodic Cost [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used

The costs for the Company’s defined benefit pension plans are actuarially determined. Below are the key assumptions utilized to determine periodic cost:

	Pension Plans			SERP
	Year Ended December 31			Year Ended December 31
	2018	2017	2016	2018	2017	2016
Discount rate (1)	4.0%/3.6%	4.1%	4.3%	3.6%	4.1%	4.3%
Expected return on plan assets	6.25%	6.25%	6.5%	—	—	—
Rate of compensation increase	Age graded (5.0%–1.0%)	Age graded (5.0%–1.0%)	4.0%	Age graded (5.0%–1.0%)	Age graded (5.0%–1.0%)	4.0%
Cash balance interest crediting rate	2.23% with phase in to 3.00% in 2020	1.57% with phase in to 3.00% in 2020	1.41% with phase in to 3.00% in 2019	—	—	—

____________

(1) As a result of the Kaplan University transaction, the Company remeasured the accumulated and projected benefit obligation of the pension plan as of March 22, 2018. The remeasurement changed the discount rate from 3.6% for the period January 1 to March 23, 2018 to 4.0% for the period after March 23, 2018.

Pension Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Obligation, Asset and Funding Information

The following table sets forth obligation, asset and funding information for the Company’s defined benefit pension plans:

	Pension Plans
	As of December 31
(in thousands)	2018			2017
Change in Benefit Obligation
Benefit obligation at beginning of year	$	1,286,694		$	1,160,897
Service cost	18,221			18,687
Interest cost	46,787			47,925
Amendments	7,183			75
Actuarial (gain) loss	(81,851		)	73,191
Acquisitions	—			58,600
Benefits paid	(63,852		)	(74,506		)
Special termination benefits	—			1,825
Curtailment	(836		)	—
Settlement	(95,777		)	—
Benefit Obligation at End of Year	$	1,116,569		$	1,286,694
Change in Plan Assets
Fair value of assets at beginning of year	$	2,343,471		$	2,042,490
Actual return on plan assets	(63,715		)	375,487
Benefits paid	(63,852		)	(74,506		)
Settlement	(95,777		)	—
Fair Value of Assets at End of Year	$	2,120,127		$	2,343,471
Funded Status	$	1,003,558		$	1,056,777

Schedule of Net (Benefit) Costs

The total (benefit) cost arising from the Company’s defined benefit pension plans consists of the following components:

	Pension Plans
	Year Ended December 31
(in thousands)	2018			2017			2016
Service cost	$	18,221		$	18,687		$	20,461
Interest cost	46,787			47,925			51,608
Expected return on assets	(129,220		)	(121,411		)	(121,470		)
Amortization of prior service cost	150			170			297
Recognized actuarial gain	(9,969		)	(4,410		)	—
Net Periodic Benefit for the Year	(74,031		)	(59,039		)	(49,104		)
Curtailment	(806		)	—			—
Settlement	(26,917		)	—			(17,993		)
Early retirement programs and special separation benefit expense	—			1,825			—
Total Benefit for the Year	$	(101,754	)	$	(57,214	)	$	(67,097	)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Current year actuarial loss (gain)	$	111,084		$	(180,885	)	$	147,779
Current year prior service cost	7,183			75			—
Amortization of prior service cost	(150		)	(170		)	(297		)
Recognized net actuarial gain	9,969			4,410			—
Curtailment and settlement	26,887			—			17,993
Total Recognized in Other Comprehensive Income (Before Tax Effects)	$	154,973		$	(176,570	)	$	165,475
Total Recognized in Total Benefit and Other Comprehensive Income (Before Tax Effects)	$	53,219		$	(233,784	)	$	98,378

Allocation of the Assets of the Company's Pension Plans

The assets of the Company’s pension plans were allocated as follows:

	As of December 31
	2018		2017
U.S. equities	53	%	53	%
U.S. stock index fund	28	%	30	%
U.S. fixed income	13	%	11	%
International equities	6	%	6	%
	100	%	100	%

Fair Value, Assets Measured on Recurring Basis

The Company’s pension plan assets measured at fair value on a recurring basis were as follows:

	As of December 31, 2018
(in thousands)	Level 1		Level 2		Level 3		Total
Cash equivalents and other short-term investments	$	2,068	$	269,544	$	—	$	271,612
Equity securities
U.S. equities	1,115,323		—		—		1,115,323
International equities	131,912		—		—		131,912
U.S. stock index fund	—		—		601,395		601,395
Total Investments	$	1,249,303	$	269,544	$	601,395	$	2,120,242
Payable for settlement of investments purchased, net							(115		)
Total							$	2,120,127

	As of December 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Cash equivalents and other short-term investments	$	73,877	$	181,638	$	—	$	255,515
Equity securities
U.S. equities	1,242,139		—		—		1,242,139
International equities	138,640		—		—		138,640
U.S. stock index fund	—		—		706,202		706,202
Total Investments	$	1,454,656	$	181,638	$	706,202	$	2,342,496
Receivables							975
Total							$	2,343,471

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table provides a reconciliation of changes in pension assets measured at fair value on a recurring basis, using Level 3 inputs:

	U.S. Stock Index Fund
	Year Ended December 31
(in thousands)	2018			2017
Balance at Beginning of Year	$	706,202		$	622,865
Purchases, sales, and settlements, net	(80,000		)	(50,000		)
Actual return on plan assets:
Gains relating to assets sold	2,819			6,796
(Losses) gains relating to assets still held at year-end	(27,626		)	126,541
Balance at End of Year	$	601,395		$	706,202

Supplemental Executive Retirement Plan (SERP) [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Obligation, Asset and Funding Information

	SERP
	As of December 31
(in thousands)	2018			2017
Change in Benefit Obligation
Benefit obligation at beginning of year	$	110,082		$	106,526
Service cost	819			858
Interest cost	3,865			4,233
Amendments	1,028			—
Actuarial (gain) loss	(7,552		)	4,041
Benefits paid	(5,694		)	(5,576		)
Benefit Obligation at End of Year	$	102,548		$	110,082
Change in Plan Assets
Fair value of assets at beginning of year	$	—		$	—
Employer contributions	5,694			5,576
Benefits paid	(5,694		)	(5,576		)
Fair Value of Assets at End of Year	$	—		$	—
Funded Status	$	(102,548	)	$	(110,082	)

Schedule of Net (Benefit) Costs

	SERP
	Year Ended December 31
(in thousands)	2018			2017			2016
Service cost	$	819		$	858		$	985
Interest cost	3,865			4,233			4,384
Amortization of prior service cost	311			455			457
Recognized actuarial loss	2,403			1,774			2,659
Total Cost for the Year	$	7,398		$	7,320		$	8,485
Other Changes in Benefit Obligations Recognized in Other Comprehensive Income
Current year actuarial (gain) loss	$	(7,552	)	$	4,041		$	1,120
Current year prior service cost	1,028			—			—
Amortization of prior service cost	(311		)	(455		)	(457		)
Recognized net actuarial loss	(2,403		)	(1,774		)	(2,659		)
Total Recognized in Other Comprehensive Income (Before Tax Effects)	$	(9,238	)	$	1,812		$	(1,996	)
Total Recognized in Total Cost and Other Comprehensive Income (Before Tax Effects)	$	(1,840	)	$	9,132		$	6,489

Other Postretirement Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Obligation, Asset and Funding Information

The following table sets forth obligation, asset and funding information for the Company’s other postretirement plans:

	Postretirement Plans
	As of December 31
(in thousands)	2018			2017
Change in Benefit Obligation
Benefit obligation at beginning of year	$	22,785		$	24,171
Service cost	892			1,028
Interest cost	620			779
Amendments	(12,473		)	—
Actuarial gain	(2,519		)	(2,830		)
Acquisitions	—			516
Benefits paid, net of Medicare subsidy	(782		)	(879		)
Benefit Obligation at End of Year	$	8,523		$	22,785
Change in Plan Assets
Fair value of assets at beginning of year	$	—		$	—
Employer contributions	782			879
Benefits paid, net of Medicare subsidy	(782		)	(879		)
Fair Value of Assets at End of Year	$	—		$	—
Funded Status	$	(8,523	)	$	(22,785	)

Schedule of Amounts Recognized in Balance Sheet

The amounts recognized in the Company’s Consolidated Balance Sheets for its other postretirement plans are as follows:

	Postretirement Plans
	As of December 31
(in thousands)	2018			2017
Current liability	$	(1,399	)	$	(1,920	)
Noncurrent liability	(7,124		)	(20,865		)
Recognized Liability	$	(8,523	)	$	(22,785	)

Schedule of Estimated Benefit Payments

At December 31, 2018, future estimated benefit payments are as follows:

(in thousands)	Postretirement Plans
2019	$	1,399
2020	$	1,273
2021	$	1,083
2022	$	1,015
2023	$	856
2024–2028	$	2,308

Schedule of Net (Benefit) Costs

The total (benefit) cost arising from the Company’s other postretirement plans consists of the following components:

	Postretirement Plans
	Year Ended December 31
(in thousands)	2018			2017			2016
Service cost	$	892		$	1,028		$	1,386
Interest cost	620			779			1,230
Amortization of prior service credit	(1,408		)	(148		)	(335		)
Recognized actuarial gain	(3,783		)	(3,891		)	(1,502		)
Net Periodic (Benefit) Cost for the Year	(3,679		)	(2,232		)	779
Curtailment	(3,380		)	—			—
Total (Benefit) Cost for the Year	$	(7,059	)	$	(2,232	)	$	779
Other Changes in Benefit Obligations Recognized in Other Comprehensive Income
Current year actuarial gain	$	(2,519	)	$	(2,830	)	$	(14,984	)
Current year prior service credit	(12,473		)	—			—
Amortization of prior service credit	1,408			148			335
Recognized actuarial gain	3,783			3,891			1,502
Curtailment and settlement	3,380			—			—
Total Recognized in Other Comprehensive Income (Before Tax Effects)	$	(6,421	)	$	1,209		$	(13,147	)
Total Recognized in (Benefit) Cost and Other Comprehensive Income (Before Tax Effects)	$	(13,480	)	$	(1,023	)	$	(12,368	)

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

AOCI included the following components of unrecognized net periodic benefit for the postretirement plans:

	As of December 31
(in thousands)	2018			2017
Unrecognized actuarial gain	$	(22,861	)	$	(24,125	)
Unrecognized prior service credit	(7,863		)	(178		)
Gross Amount	(30,724		)	(24,303		)
Deferred tax liability	8,295			6,561
Net Amount	$	(22,429	)	$	(17,742	)