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Pension and other post-retirement benefits (Tables)
 12 Months Ended
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Benefit Obligations Fair Value of Plan Assets and Funded Status
The following table sets forth the projected benefit obligations, fair value of plan assets, and funded status of the Company’s plans as of December 31:
 
Pension benefits
 
OPEB
 
2015
 
2014
 
2015
 
2014
Change in projected benefit obligation
 
 
 
 
 
 
 
Projected benefit obligation, beginning of year
$
241,963

 
$
178,113

 
$
68,257

 
$
45,399

Projected benefit obligation assumed from business combination
—

 
1,022

 
—

 
—

Modifications to pension plan
(4,995
)
 
(560
)
 
—

 
—

Service cost
6,663

 
4,828

 
3,093

 
2,022

Interest cost
9,642

 
8,549

 
2,914

 
2,186

Actuarial loss (gain)
(16,098
)
 
39,704

 
(8,466
)
 
14,893

Contributions from retirees
—

 
—

 
412

 
331

Benefits paid
(13,024
)
 
(8,125
)
 
(2,447
)
 
(1,586
)
Loss on foreign exchange
45,231

 
18,432

 
12,802

 
5,012

Projected benefit obligation, end of year
$
269,382

 
$
241,963

 
$
76,565

 
$
68,257

Change in plan assets
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
156,990

 
139,280

 
14,295

 
13,395

Actual return (loss) on plan assets
(5,657
)
 
6,568

 
20

 
1,176

Employer contributions
7,975

 
5,676

 
3,028

 
(222
)
Benefits paid
(12,589
)
 
(7,414
)
 
(2,036
)
 
(1,255
)
Gain on foreign exchange
29,453

 
12,880

 
2,842

 
1,201

Fair value of plan assets, end of year
$
176,172

 
$
156,990

 
$
18,149

 
$
14,295

Unfunded status
$
(93,210
)
 
$
(84,973
)
 
$
(58,416
)
 
$
(53,962
)
Amounts recognized in the consolidated balance sheets consists of:
 
 
 
 
 
 
 
Current liabilities
(470
)
 
—

 
(1,062
)
 
(333
)
Non-current liabilities
(92,740
)
 
(84,973
)
 
(57,354
)
 
(53,629
)
Net amount recognized
$
(93,210
)
 
$
(84,973
)
 
$
(58,416
)
 
$
(53,962
)
Amounts Recognized in Accumulated Other Comprehensive loss
The amounts recognized in OCI before tax were as follows: 
 
AOCI
 
Pension
 
OPEB
Balance, January 1, 2014
$
(14,385
)
 
$
(9,083
)
Current year net actuarial gain
43,350

 
14,338

Current year prior service loss
(563
)
 
—

Amortization of net actuarial loss
349

 
641

Balance at December 31, 2014
$
28,751

 
$
5,896

Current year net actuarial loss
1,505

 
(7,554
)
Current year prior service credits
(4,864
)
 
—

Amortization of net actuarial gain
(1,358
)
 
(680
)
Amortization of prior service credits
457

 
—

Balance at December 31, 2015
$
24,491

 
$
(2,338
)
Weighted Average Assumptions Used to Determine Net Benefit Obligation
Weighted average assumptions used to determine net benefit obligation for 2015 and 2014 were as follows: 
 
Pension benefits
 
OPEB
 
2015
 
2014
 
2015
 
2014
Discount rate
4.16
%
 
3.71
%
 
4.23
%
 
3.80
%
Rate of compensation increase
3.00
%
 
3.01
%
 
N/A

 
N/A

Health care cost trend rate
 
 
 
 
 
 
 
Before Age 65
 
 
 
 
6.50
%
 
7.00
%
Age 65 and after
 
 
 
 
6.50
%
 
7.00
%
Assumed Ultimate Medical Inflation Rate
 
 
 
 
4.75
%
 
5.00
%
Year in which Ultimate Rate is reached
 
 
 
 
2023

 
2019

Weighted average assumptions used to determine net benefit cost for 2015 and 2014 were as follows: 
 
Pension benefits
 
OPEB
 
2015
 
2014
 
2015
 
2014
Discount rate
3.71
%
 
4.55
%
 
3.82
%
 
4.60
%
Expected return on assets
6.44
%
 
7.00
%
 
5.50
%
 
5.53
%
Rate of compensation increase
3.01
%
 
2.97
%
 
N/A

 
N/A

Health care cost trend rate
 
 
 
 
 
 
 
Before Age 65
 
 
 
 
7.00
%
 
7.63
%
Age 65 and after
 
 
 
 
7.00
%
 
7.63
%
Assumed Ultimate Medical Inflation Rate
 
 
 
 
5.00
%
 
5.00
%
Year in which Ultimate Rate is reached
 
 
 
 
2019

 
2019
Effect of One Percent Change in Assumed Health Care Cost Trend Rate (HCCTR)
The effect of a one percent change in the assumed health care cost trend rate (“HCCTR”) for 2015 is as follows: 
 
2015
Effect of a 1 percentage point increase in the HCCTR on:
 
Year-end benefit obligation
$
10,763

Total service and interest cost
1,111

Effect of a 1 percentage point decrease in the HCCTR on:
 
Year-end benefit obligation
$
(8,687
)
Total service and interest cost
(871
)
Components of Net Benefit Costs For Pension Plans and OPEB Recorded as Part of Administrative Expenses
The following table lists the components of net benefit costs for the pension plans and OPEB recorded as part of operating expenses in the consolidated statements of operations. The employee benefit costs related to businesses acquired are recorded in the consolidated statements of operations from the date of acquisition.
 
Pension benefits
 
OPEB
 
2015
 
2014
 
2015
 
2014
Service cost
$
6,663

 
$
4,828

 
$
3,093

 
$
2,022

Interest cost
9,642

 
8,549

 
2,914

 
2,186

Expected return on plan assets
(11,989
)
 
(10,018
)
 
(713
)
 
(628
)
Amortization of net actuarial loss (gain)
1,398

 
(346
)
 
510

 
(641
)
Amortization of prior service credits
(471
)
 
—

 
—

 
—

Net benefit cost
$
5,243

 
$
3,013

 
$
5,804

 
$
2,939
Target Asset Allocation
The Company’s target asset allocation is as follows:
Asset Class
 
Target (%)
 
Range (%)
Equity securities
 
74
%
 
49% - 78%
Debt securities
 
26
%
 
22% - 51%
Other
 
—
%
 
0% - 1%
10.
Pension and other post-employment benefits (continued)
(d)
Plan assets (continued)
The fair values of investments as of December 31, 2015, by asset category, are as follows:
Asset Class
 
Level 1
 
Percentage
Equity securities
 
138,993

 
72
%
Debt securities
 
54,542

 
28
%
Other
 
787

 
—
%
Expected Benefit Payments
The expected benefit payments over the next ten years are as follows: 
 
2016
 
2017
 
2018
 
2019
 
2020
 
2021-2025
Pension plan
$
15,037

 
$
13,829

 
$
14,474

 
$
15,120

 
$
15,692

 
$
88,692

OPEB
3,113

 
3,375

 
3,584

 
3,804

 
4,396

 
25,720