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Pensions, Other Post Retirement and Post Employment Benefits (Tables)
12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of the Funded Status and the Changes in Benefit Obligation and Plan Assets
A summary of the changes in benefit obligations and plan assets as of December 31, 2014 and 2013 is presented below.
 
 
 
Defined Benefit Plans
 
 
 
2014
 
2013
 
Change in benefit obligation
 
 
 
 
 
Benefit obligation at beginning of year
 
$
161,101

 
$
168,736

 
Service cost
 
3,532

 
3,633

 
Interest cost
 
6,483

 
6,221

 
Plan participants’ contributions
 
101

 
108

 
Actuarial loss (gain)
 
27,965

 
(9,534
)
 
Currency translation impact
 
(10,583
)
 
272

 
Administrative expenses paid
 
(511
)
 
(665
)
 
Settlement/curtailment
 
(694
)
 
(716
)
 
Benefits paid
 
(9,229
)
 
(6,954
)
 
Benefit obligation at end of year
 
178,165

 
161,101

 
Change in plan assets
 
 
 
 
 
Fair value of plan assets at beginning of year
 
93,550

 
84,212

 
Actual return on plan assets
 
10,493

 
10,288

 
Employer contributions
 
8,168

 
8,076

 
Plan participants’ contributions
 
101

 
108

 
Settlement/curtailment
 
(694
)
 
(716
)
 
Administrative expenses paid
 
(511
)
 
(665
)
 
Currency translation impact
 
(4,398
)
 
(799
)
 
Benefits paid
 
(9,229
)
 
(6,954
)
 
Fair value of plan assets at end of year
 
97,480

 
93,550

 
Funded status (1)
 
$
(80,685
)
 
$
(67,551
)
 
 
(1)
In accordance with Topic 715, $3,568 and $3,803 of this amount is recorded in accrued expenses as of December 31, 2014 and 2013, respectively.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
Information for pension plans with an accumulated benefit obligation in excess of plan assets is as follows:
 
 
 
December 31,
 
 
2014
 
2013
Projected benefit obligation
 
$
178,165

 
$
135,102

Accumulated benefit obligation
 
$
167,679

 
$
130,110

Fair value of plan assets
 
$
97,479

 
$
69,322

Components of Net Periodic Benefit Cost
Components of Net Periodic Benefit Cost
 
 
 
Defined Benefit Plan
 
 
 
2014
 
2013
 
2012
 
Service cost
 
$
3,532

 
$
3,633

 
$
3,867

 
Interest cost
 
6,483

 
6,221

 
6,708

 
Expected return on plan assets
 
(6,156
)
 
(5,555
)
 
(4,986
)
 
Amortization of prior service cost
 
—

 
11

 
13

 
Amortization of net loss
 
1,124

 
2,323

 
2,230

 
Net periodic benefit cost
 
$
4,983

 
$
6,633

 
$
7,832

 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Additional Information
 
Defined Benefit Plans
 
 
 
2014
 
2013
 
Change in funded status included in accumulated other comprehensive loss, net of tax
 
$
17,135

 
$
14,821

 
Schedule of Assumptions Used
Weighted-average assumptions used to determine benefit obligations at December 31 are as follows:
 
 
 
Defined Benefit Plans
 
 
 
2014
 
2013
 
Discount rate
 
3.40
%
 
4.25
%
 
Rate of compensation increase
 
3.64
%
 
3.75
%
 
 
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 are as follows:
 
 
 
Defined Benefit Plans
 
 
 
2014
 
2013
 
Discount rate
 
4.25
%
 
3.85
%
 
Expected long-term return on plan assets
 
6.63
%
 
6.71
%
 
Rate of compensation increase
 
3.75
%
 
3.56
%
 
Schedule of Allocation of Plan Assets
The percentage of fair value of total plan assets for funded plans are invested as follows:
 
 
 
Plan Assets at December 31,
Asset Category
 
2014
 
2013
Marketable equities
 
56
%
 
60
%
Fixed income securities
 
44
%
 
40
%
Total
 
100
%
 
100
%
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
 
 
 
Defined Benefit Plans
 
2015
 
$
7,049

 
2016
 
6,667

 
2017
 
6,892

 
2018
 
6,895

 
2019
 
7,172

 
Years 2020 and thereafter
 
41,289

 
Approximate Matching Contribution Expense
The following represents the approximate matching contribution expense for the years ended December 31, 2014, 2013 and 2012:
 
 
 
Year ended December 31,
 
 
2014
 
2013
 
2012
Matching contribution expense
 
$
1,209

 
$
1,604

 
$
1,684