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Pensions and Other Post-Employment Benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Obligation and funded status of the company's pension and other post-retirement benefit plans
The obligation and funded status of the Company’s pension and other post-employment benefit plans are shown below. The Pension Benefits column aggregates defined benefit pension plans in the U.S., Germany, Liechtenstein, England, and the U.S. supplemental retirement plans. The Other Benefits column includes the domestic retiree medical and life insurance plan.
  Pension BenefitsOther Benefits
(Thousands)2021202020212020
Change in benefit obligation
Benefit obligation at beginning of year$246,107 $186,760 $8,190 $8,681 
Service cost1,722 1,403 80 59 
Interest cost4,186 5,234 116 213 
Net pension curtailments and settlements— (609)— — 
Acquisition— 30,360 — — 
Plan amendments— (799)— — 
Actuarial (gain) loss(8,448)24,259 (112)224 
Benefit payments(4,927)(4,612)(742)(989)
Foreign currency exchange rate changes and other(2,861)4,111 (18)2 
Benefit obligation at end of year235,779 246,107 7,514 8,190 
Change in plan assets
Fair value of plan assets at beginning of year226,176 174,046 — — 
Plan settlements— — — — 
Acquisition— 23,774 — — 
Actual return on plan assets6,082 30,330 — — 
Employer contributions955 614 — — 
Employee contributions878 498 — — 
Benefit payments from fund(5,399)(4,720)— — 
Expenses paid from assets(313)(234)— — 
Foreign currency exchange rate changes and other(1,039)1,868 — — 
Fair value of plan assets at end of year227,340 226,176 — — 
Funded status at end of year$(8,439)$(19,931)$(7,514)$(8,190)
Amounts recognized in the Consolidated
Balance Sheets consist of:
Other assets$18,566 $13,074 $— $— 
Other liabilities and accrued items(1,662)(470)(754)(866)
Retirement and post-employment benefits(25,343)(32,535)(6,760)(7,324)
Net amount recognized$(8,439)$(19,931)$(7,514)$(8,190)
Schedule of amounts in accumulated other comprehensive income (loss)
The following amounts are included within accumulated other comprehensive loss at December 31, 2021:
  Pension BenefitsOther Benefits
(Thousands)2021202020212020
Amounts recognized in other comprehensive income (before tax) consist of:
Net actuarial loss (gain)$42,440 $49,472 $(4,044)$(3,973)
Net prior service cost (credit)(695)(799)(2,054)(3,552)
Net transition obligation/(asset)637 — — — 
Net amount recognized$42,382 $48,673 $(6,098)$(7,525)
Schedule of accumulated and projected benefit obligations
The following table provides information regarding the accumulated benefit obligation:
  Pension BenefitsOther Benefits
(Thousands)2021202020212020
Additional information
Accumulated benefit obligation for all defined benefit pension plans$233,717 $243,953 $— $— 
For defined benefit pension plans with benefit obligations in excess of plan assets:
Aggregate benefit obligation58,052 62,012 — — 
Aggregate fair value of plan assets33,148 29,938 — — 
For defined benefit pension plans with accumulated benefit obligations in excess of plan assets:
Aggregate accumulated benefit obligation56,043 59,858 — — 
Aggregate fair value of plan assets33,148 29,938 — — 
Schedule of net benefit costs
The following table summarizes components of net benefit cost:
  
Pension BenefitsOther Benefits
(Thousands)202120202019202120202019
Net benefit cost
Service cost$1,722 $1,403 $5,918 $80 $59 $67 
Interest cost4,186 5,234 6,292 116 213 399 
Expected return on plan assets(9,881)(9,333)(8,777)— — — 
Amortization of prior service credit(82)— 483 (1,497)(1,497)(1,497)
Recognized net actuarial loss (gain)2,344 1,678 3,304 (275)(332)(93)
Net periodic benefit (credit) cost(1,711)(1,018)7,220 (1,576)(1,557)(1,124)
Net pension curtailments and settlements— 94 3,328 — — — 
Total net benefit (credit) cost$(1,711)$(924)$10,548 $(1,576)$(1,557)$(1,124)
Summary of cumulative net gain (loss) by component, net of tax, within other comprehensive income
The following table summarizes amounts recognized in other comprehensive income (OCI):
  
Pension BenefitsOther Benefits
(Thousands)202120202019202120202019
Change in other comprehensive income
OCI at beginning of year$48,673 $48,073 $65,409 $(7,525)$(9,578)$(8,976)
Increase (decrease) in OCI:
Recognized during year — prior service cost (credit)82 — (3,811)1,497 1,497 1,497 
Recognized during year — net actuarial (losses) gains(2,344)(1,678)(3,304)275 332 93 
Occurring during year — prior service cost— (799)— — — — 
Occurring during year — net actuarial losses (gains)(4,553)3,146 2,062 (345)224 (2,192)
Other adjustments— (94)(12,212)— — — 
Foreign currency exchange rate changes524 25 (71)— — — 
OCI at end of year$42,382 $48,673 $48,073 $(6,098)$(7,525)$(9,578)
Changes in the components of accumulated other comprehensive (loss) income, including amounts reclassified out, for 2021, 2020, and 2019, and the balances in accumulated other comprehensive (loss) income as of December 31, 2021, 2020, and 2019 are as follows:
Gains and Losses
On Cash Flow Hedges		Pension and Post- Employment BenefitsForeign Currency Translation
(Thousands)Foreign CurrencyPrecious MetalsCopper TotalTotal
Balance at December 31, 2018$1,263 $79 $(441)$901 $(54,543)$(4,592)$(58,234)
Other comprehensive income (loss) before reclassifications108 (1,285)209 (968)9,085 (421)7,696 
Amounts reclassified from accumulated other comprehensive income(29)595 393 959 8,853 — 9,812 
Other comprehensive income (loss) before tax79 (690)602 (9)17,938 (421)17,508 
Deferred taxes on current period activity18 (159)136 (5)4,741 — 4,736 
Other comprehensive income (loss) after tax61 (531)466 (4)13,197 (421)12,772 
Balance at December 31, 2019$1,324 $(452)$25 $897 $(41,346)$(5,013)$(45,462)
Balance at December 31, 2019$1,324 $(452)$25 $897 $(41,346)$(5,013)$(45,462)
Other comprehensive income (loss) before reclassifications(1,268)(1,675)218 (2,725)(2,721)9,030 3,584 
Amounts reclassified from accumulated other comprehensive income222 2,041 354 2,617 (57)— 2,560 
Other comprehensive income (loss) before tax(1,046)366 572 (108)(2,778)9,030 6,144 
Deferred taxes on current period activity(241)84 129 (28)(651)— (679)
Other comprehensive income (loss) after tax(805)282 443 (80)(2,127)9,030 6,823 
Balance at December 31, 2020$519 $(170)$468 $817 $(43,473)$4,017 $(38,639)
Balance at December 31, 2020$519 $(170)$468 $817 $(43,473)$4,017 $(38,639)
Other comprehensive income (loss) before reclassifications2,252 508 2,444 5,204 4,428 (6,904)2,728 
Amounts reclassified from accumulated other comprehensive income123 (193)(3,049)(3,119)437 — (2,682)
Other comprehensive income (loss) before tax2,375 315 (605)2,085 4,865 (6,904)46 
Deferred taxes on current period activity546 73 (137)482 1,094 — 1,576 
Other comprehensive income (loss) after tax1,829 242 (468)1,603 3,771 (6,904)(1,530)
Balance at December 31, 2021$2,348 $72 $— $2,420 $(39,702)$(2,887)$(40,169)
Summary of key valuation assumptions
In determining the projected benefit obligation and the net benefit cost, as of a December 31 measurement date, the Company used the following weighted-average assumptions:
 Pension BenefitsOther Benefits
 202120202019202120202019
Weighted-average assumptions used to determine benefit obligations at fiscal year end
Discount rate2.42 %2.14 %3.12 %2.90 %2.45 %3.20 %
Rate of compensation increase2.19 %2.22 %3.00 %3.00 %3.00 %3.00 %
Weighted-average assumptions used to determine net cost for the fiscal year
Discount rate4.69 %8.37 %4.16 %2.45 %3.20 %4.11 %
Expected long-term return on plan assets5.44 %5.70 %6.06 %N/AN/AN/A
Rate of compensation increase2.87 %2.87 %2.99 %3.00 %3.00 %4.00 %
Assumed health care trend rates
Assumed health care trend rates at fiscal year end20212020
Health care trend rate assumed for next year6.00%6.00%
Rate that the trend rate gradually declines to (ultimate trend rate)5.00%5.00%
Year that the rate reaches the ultimate trend rate20282025
Summary of fair values of the company's defined benefit pension plan assets
The following tables present the fair values of the Company’s defined benefit pension plan assets as of December 31, 2021 and 2020 by asset category. The Company has some investments that are valued using net asset value (NAV) as the practical expedient and have not been classified in the fair value hierarchy. Refer to Note S for definitions of the fair value hierarchy.
 December 31, 2021
(Thousands)TotalLevel 1Level 2Level 3
Cash$4,777 $4,777 $— $— 
Equity securities (a)49,618 49,618 — — 
Fixed-income securities (b)14,344 14,344 — — 
Other types of investments:
Real estate fund (c)3,258 3,258 — — 
Total71,997 71,997 — — 
Investments measured at NAV: (d)
Pooled investment fund (e)147,832 
Multi-strategy hedge funds (f)7,438 
Private equity funds73 
Total assets at fair value$227,340 
 December 31, 2020
(Thousands)TotalLevel 1Level 2Level 3
Cash$2,204 $2,204 $— $— 
Equity securities (a)49,293 49,293 — — 
Fixed-income securities (b)20,375 20,375 — — 
Other types of investments:
Real estate fund (c)6,105 6,105 — — 
Total77,977 77,977 — — 
Investments measured at NAV: (d)
Pooled investment fund (e)143,503 
Multi-strategy hedge funds (f)4,624 
Private equity funds72 
Total assets at fair value$226,176 
(a)Equity securities are primarily comprised of corporate stock and mutual funds directly held by the plans. Equity securities are valued using the closing price reported on the active market on which the individual securities are traded.
(b)Fixed income securities are primarily comprised of governmental and corporate bonds directly held by the plans. Governmental and corporate bonds are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded.
(c)Includes a mutual fund that typically invests at least 80% of its assets in equity and debt securities of companies in the real estate industry or related industries or in companies which own significant real estate assets at the time of investment.
(d)Certain assets that are measured at fair value using the NAV practical expedient have not been classified in the fair value hierarchy.
(e)Pooled investment fund consists of various investment types including equity investments covering a range of geographies and including investment managers that hold long and short positions, property investments, and other
multi-strategy funds which combine a range of different credit, equity, and macro-orientated ideas and dynamically allocate funds across asset classes.
(f)Includes a fund that invests in a broad portfolio of hedge funds.
Estimated future benefits payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
 Other Benefits
(Thousands)Pension BenefitsGross Benefit
Payment		Net of
Medicare
Part D
Subsidy
20226,286 756 756 
20237,713 708 708 
20248,778 634 634 
20258,932 567 567 
20269,768 504 504 
2027 through 203154,751 1,925 1,925