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Pensions and Other Post-Employment Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
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)2022202120222021
Change in benefit obligation
Benefit obligation at beginning of year$235,779 $246,107 $7,514 $8,190 
Service cost1,231 1,722 78 80 
Interest cost4,874 4,186 156 116 
Net pension curtailments and settlements(3,104)— — — 
Acquisition— — — — 
Plan amendments— — — — 
Actuarial (gain) loss(61,819)(8,448)(1,800)(112)
Benefit payments(5,821)(4,927)(443)(742)
Foreign currency exchange rate changes and other(3,108)(2,861)— (18)
Benefit obligation at end of year168,032 235,779 5,505 7,514 
Change in plan assets
Fair value of plan assets at beginning of year227,340 226,176 — — 
Plan settlements(3,104)— — — 
Acquisition— — — — 
Actual return on plan assets(53,283)5,769 — — 
Employer contributions831 955 — — 
Employee contributions786 878 — — 
Benefit payments from fund(6,175)(5,399)— — 
Foreign currency exchange rate changes and other(1,799)(1,039)— — 
Fair value of plan assets at end of year164,596 227,340 — — 
Funded status at end of year$(3,436)$(8,439)$(5,505)$(7,514)
Amounts recognized in the Consolidated
Balance Sheets consist of:
Other assets$11,761 $18,566 $— $— 
Other liabilities and accrued items(536)(1,662)(754)(754)
Retirement and post-employment benefits(14,661)(25,343)(4,751)(6,760)
Net amount recognized$(3,436)$(8,439)$(5,505)$(7,514)
Schedule of amounts recognized in other comprehensive income (loss)
The following amounts are included within accumulated other comprehensive loss at December 31, 2022:
  Pension BenefitsOther Benefits
(Thousands)2022202120222021
Amounts recognized in other comprehensive income (before tax) consist of:
Net actuarial loss (gain)$43,039 $42,440 $(5,573)$(4,044)
Net prior service cost (credit)(617)(695)(556)(2,054)
Net transition obligation/(asset)— 637 — — 
Net amount recognized$42,422 $42,382 $(6,129)$(6,098)
Schedule of accumulated and projected benefit obligations
The following table provides information regarding the accumulated benefit obligation:
  Pension BenefitsOther Benefits
(Thousands)2022202120222021
Additional information
Accumulated benefit obligation for all defined benefit pension plans$167,366 $233,717 $— $— 
For defined benefit pension plans with benefit obligations in excess of plan assets:
Aggregate benefit obligation18,490 58,052 — — 
Aggregate fair value of plan assets3,279 33,148 — — 
For defined benefit pension plans with accumulated benefit obligations in excess of plan assets:
Aggregate accumulated benefit obligation17,833 56,043 — — 
Aggregate fair value of plan assets3,279 33,148 — — 
Schedule of net benefit costs
The following table summarizes components of net benefit cost:
  
Pension BenefitsOther Benefits
(Thousands)202220212020202220212020
Net benefit cost
Service cost$1,231 $1,722 $1,403 $78 $80 $59 
Interest cost4,874 4,186 5,234 156 116 213 
Expected return on plan assets(9,570)(9,881)(9,333)— — — 
Amortization of prior service credit(78)(82)— (1,497)(1,497)(1,497)
Recognized net actuarial loss (gain)1,701 2,344 1,678 (272)(275)(332)
Net periodic benefit (credit) cost(1,842)(1,711)(1,018)(1,535)(1,576)(1,557)
Net pension curtailments and settlements(551)— 94 — — — 
Total net benefit (credit) cost$(2,393)$(1,711)$(924)$(1,535)$(1,576)$(1,557)
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)202220212020202220212020
Change in other comprehensive income
OCI at beginning of year$42,382 $48,673 $48,073 $(6,098)$(7,525)$(9,578)
Increase (decrease) in OCI:
Recognized during year — prior service cost (credit)78 82 — 1,497 1,497 1,497 
Recognized during year — net actuarial (losses) gains(1,701)(2,344)(1,678)272 275 332 
Occurring during year — prior service cost— — (799)— — — 
Occurring during year — net actuarial losses (gains)1,112 (4,553)3,146 (1,800)(345)224 
Other adjustments551 — (94)— — — 
Foreign currency exchange rate changes524 25 — — — 
OCI at end of year$42,422 $42,382 $48,673 $(6,129)$(6,098)$(7,525)
Changes in the components of accumulated other comprehensive (loss) income, including amounts reclassified out, for 2022, 2021, and 2020, and the balances in accumulated other comprehensive (loss) income as of December 31, 2022, 2021, and 2020 are as follows:
Gains and Losses
On Cash Flow Hedges		Pension and Post- Employment BenefitsForeign Currency Translation
(Thousands)Foreign CurrencyInterest RatePrecious MetalsCopper TotalTotal
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)
Balance at December 31, 2021$2,348 $— $72 $— $2,420 $(39,702)$(2,887)$(40,169)
Other comprehensive income (loss) before reclassifications(1,260)8,113 (259)— 6,594 (394)(5,869)331 
Amounts reclassified from accumulated other comprehensive income(176)(250)(126)— (552)386 — (166)
Other comprehensive income (loss) before tax(1,436)7,863 (385)— 6,042 (8)(5,869)165 
Deferred taxes on current period activity(331)1,808 (90)— 1,387 518 — 1,905 
Other comprehensive income (loss) after tax(1,105)6,055 (295)— 4,655 (526)(5,869)(1,740)
Balance at December 31, 2022$1,243 $6,055 $(223)$— $7,075 $(40,228)$(8,756)$(41,909)
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 assumptions:
 Pension BenefitsOther Benefits
 202220212020202220212020
Assumptions used to determine benefit obligations at fiscal year end
Discount rate
2.16% - 5.54%
0.22% - 3.02%
0.03% - 2.76%
5.52 %2.90 %2.45 %
Rate of compensation increase
1.75% - 3.00%
1.50% - 3.00%
1.50% - 3.00%
3.50 %3.00 %3.00 %
Assumptions used to determine net cost for the fiscal year
Discount rate
0.22% - 3.02%
0.03% - 2.76%
0.21% - 3.48%
2.90 %2.45 %3.20 %
Expected long-term return on plan assets
1.20% - 5.25%
1.20% - 5.75%
1.80% - 6.00%
N/AN/AN/A
Rate of compensation increase
1.50% - 3.00%
1.50% - 3.00%
1.50% - 3.00%
3.00 %3.00 %3.00 %
Assumed health care trend rates
Assumed health care trend rates at fiscal year end20222021
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 rate20322028
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, 2022 and 2021 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 R for definitions of the fair value hierarchy.
 December 31, 2022
(Thousands)TotalLevel 1Level 2Level 3
Cash$1,058 $1,058 $— $— 
Equity securities (a)37,083 37,083 — — 
Fixed-income securities (b)13,314 13,314 — — 
Other types of investments:
Real estate fund (c)3,115 3,115 — — 
Total54,570 54,570 — — 
Investments measured at NAV: (d)
Pooled investment fund (e)103,142 
Multi-strategy hedge funds (f)6,812 
Private equity funds72 
Total assets at fair value$164,596 
 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 
(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
20237,565 767 767 
20248,174 679 679 
20258,880 608 608 
20269,773 518 518 
202710,638 478 478 
2028 through 203256,634 1,815 1,815