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Savings Plans, Pension Plans and Other Postretirement Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations
The change in benefit obligation, change in plan assets and funded status for company-sponsored benefit plans and obligations are as follows: 
 
PENSION PLANS
 
OTHER POSTRETIREMENT
EMPLOYEE BENEFITS
(Dollars in thousands)
2015
 
2014
 
2015
 
2014
Benefit obligation at beginning of year
$
(417,694
)
 
$
(393,565
)
 
$
(41,561
)
 
$
(47,343
)
Service cost
(6,159
)
 
(5,081
)
 
(22
)
 
(25
)
Interest cost
(17,012
)
 
(19,184
)
 
(1,456
)
 
(1,741
)
Actuarial gain (loss)
27,094

 
(49,990
)
 
3,778

 
3,229

Benefits paid
31,700

 
50,126

 
3,790

 
4,319

Benefit obligation at end of year
$
(382,071
)
 
$
(417,694
)
 
$
(35,471
)
 
$
(41,561
)
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
337,059

 
$
350,588

 
$
—

 
$
—

Actual return on plan assets
(14,970
)
 
31,280

 
—

 
—

Employer contributions and benefit payments
1,811

 
5,317

 
3,790

 
4,319

Benefits paid
(31,700
)
 
(50,126
)
 
(3,790
)
 
(4,319
)
Fair value of plan assets at end of year
$
292,200

 
$
337,059

 
$
—

 
$
—

 


 


 


 


Amounts recognized in the consolidated balance sheets:
 
 
 
 
 
 
 
Current liabilities
$
(1,791
)
 
$
(1,774
)
 
$
(4,182
)
 
$
(4,486
)
Noncurrent liabilities
(88,080
)
 
(78,861
)
 
(31,289
)
 
(37,075
)
Funded status
$
(89,871
)
 
$
(80,635
)
 
$
(35,471
)
 
$
(41,561
)
Schedule of Weighted Average Asset Allocations of the Pension Benefit Plans' Assets
The asset allocations of the pension benefit plans’ assets at December 31 by asset category are as follows:
  
PENSION PLANS
ASSET CATEGORY
2015
 
2014
Domestic and international equities
35
%
 
36
%
Fixed income securities
48

 
48

Other (includes alternatives not classified as equities and fixed income securities)
17

 
16

Total
100
%
 
100
%
Schedule of Allocation of Plan Assets
Fair value measurements are as follows: 
(Dollars in thousands)
DECEMBER 31, 2015
Asset Category
Level 1
 
Level 2
 
Total
Cash and equivalents
$
5,591

 
$
—

 
$
5,591

Domestic equity securities1
26,253

 
25,619

 
51,872

International equity securities2
411

 
25,733

 
26,144

Emerging markets3
1,831

 
23,681

 
25,512

Fixed income securities4
138,906

 
—

 
138,906

Alternatives5
—

 
44,175

 
44,175

Total
$
172,992

 
$
119,208

 
$
292,200


(Dollars in thousands)
DECEMBER 31, 2014
Asset Category
Level 1
 
Level 2
 
Total
Cash and equivalents
$
6,586

 
$
—

 
$
6,586

Equity securities:
 
 
 
 
 
U.S. small/mid cap6
1,136

 
—

 
1,136

     International companies
13,782

 
—

 
13,782

Mutual funds7
226,710

 
—

 
226,710

Collective investments:
 
 
 
 
 
U.S. large cap8
—

 
30,005

 
30,005

Developed markets9
—

 
29,879

 
29,879

Emerging markets10
—

 
28,961

 
28,961

Total
$
248,214

 
$
88,845

 
$
337,059


1 
Level 1 assets are managed investments in U.S. small/mid-cap equities that track the Russell 2500 Growth index or Russell 2500 Value index. Level 2 assets are collective investments, which are invested in U.S. large-cap equities that track the S&P 500.
2 
These collective investments are invested in equity funds of developed markets outside of the U.S. and Canada that track the MSCI EAFE Value index or MSCI EAFE Growth index.
3 
Level 1 assets are mutual funds which are invested in the common stock of companies located (or with primary operations) in emerging markets that track the MSCI Emerging Markets index. Level 2 assets are collective investments in the common stock of companies located (or with primary operations) in emerging markets that track the MSCI Emerging Markets index.
4 
These are mutual funds and investments in a diversified portfolio of fixed income instruments of varying maturities representing corporates, sovereign debt, U.S. treasuries, and municipals that track the Barclay's Long Term Credit index.
5 
These are collective investments in inflation-indexed bonds, securities of real estate companies, commodity index-linked notes, fixed income securities, foreign currencies, securities of natural resource companies, master limited partnerships, publicly listed infrastructure companies, floating-rate debt, securities of global agriculture companies and securities of global timber companies.
6 
These are managed investments in U.S. small/mid cap equities that track the Russell 2500 Growth index.
7 
The mutual funds were 72% invested in high-quality intermediate and long-term investment grade securities, 22% invested in a diversified portfolio of fixed-income instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements and debt securities, and 6% invested in U.S. small/mid-cap equities that track the Russell 2500 Growth index.
8 
These collective investments are invested in U.S. large cap equities that track the S&P 500.
9 
These collective investments are invested in equity funds of developed markets outside of the United States & Canada, which track the MSCI EAFE Value or MSCI EAFE Growth index.
10 
These collective investments are invested in equity funds of emerging markets outside of the United States & Canada, which track the MSCI Emerging Markets index.
Schedule of Net Benefit Costs
Pre-tax components of net periodic cost (benefit) recognized in our Consolidated Statements of Income were as follows:
 
PENSION PLANS
 
OTHER POSTRETIREMENT
EMPLOYEE BENEFITS
(Dollars in thousands)
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Service cost
$
6,159

 
$
5,081

 
$
5,318

 
$
22

 
$
25

 
$
94

Interest cost
17,012

 
19,184

 
17,826

 
1,456

 
1,741

 
1,810

Expected return on plan assets
(20,804
)
 
(24,512
)
 
(26,092
)
 
—

 
—

 
—

Amortization of prior service cost (credit)
605

 
748

 
779

 
(9,312
)
 
(9,641
)
 
(9,708
)
Amortization of actuarial loss
17,937

 
14,451

 
19,929

 
2,047

 
2,186

 
3,209

Net periodic cost (benefit)
$
20,909

 
$
14,952

 
$
17,760

 
$
(5,787
)
 
$
(5,689
)
 
$
(4,595
)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Other amounts recognized in our Consolidated Statements of Comprehensive Income were as follows: 
 
PENSION PLANS
 
OTHER POSTRETIREMENT
EMPLOYEE BENEFITS
(Dollars in thousands)
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Net amount at beginning of year
$
134,261

 
$
117,167

 
$
161,667

 
$
(15,869
)
 
$
(18,447
)
 
$
(20,769
)
Amounts arising during the period:
 
 
 
 
 
 
 
 
 
 
 
Net loss (gain)
8,680

 
43,223

 
(52,242
)
 
(3,777
)
 
(3,229
)
 
(2,692
)
Taxes
(3,386
)
 
(16,857
)
 
20,374

 
1,473

 
1,259

 
1,050

Net amount arising during the period
5,294

 
26,366

 
(31,868
)
 
(2,304
)
 
(1,970
)
 
(1,642
)
 
 
 
 
 
 
 
 
 
 
 
 
Amounts reclassified during the period:
 
 
 
 
 
 
 
 
 
 
 
Amortization of prior service (cost) credit
(605
)
 
(748
)
 
(779
)
 
9,312

 
9,641

 
9,708

Amortization of actuarial loss
(17,937
)
 
(14,451
)
 
(19,929
)
 
(2,047
)
 
(2,186
)
 
(3,209
)
Taxes
7,231

 
5,927

 
8,076

 
(2,833
)
 
(2,907
)
 
(2,535
)
Net reclassifications during the period
(11,311
)
 
(9,272
)
 
(12,632
)
 
4,432

 
4,548

 
3,964

Net amount at end of year
$
128,244

 
$
134,261

 
$
117,167

 
$
(13,741
)
 
$
(15,869
)
 
$
(18,447
)
Schedule of Accumulated Other Comprehensive Income (Loss)
Amounts recognized in accumulated other comprehensive loss on our Consolidated Balance Sheets, net of tax, consist of:
 
PENSION PLANS
 
OTHER POSTRETIREMENT
EMPLOYEE BENEFITS
(Dollars in thousands)
2015
 
2014
 
2015
 
2014
Net loss
$
127,307

 
$
134,717

 
$
9,634

 
$
(21,750
)
Prior service cost (credit)
937

 
(456
)
 
(23,375
)
 
5,881

Net amount recognized
$
128,244

 
$
134,261

 
$
(13,741
)
 
$
(15,869
)
Schedule of Expected Future Benefit Payments
Estimated future benefit payments, which reflect expected future service are as follows for the years indicated:
(Dollars in thousands)
PENSION PLANS
 
OTHER POSTRETIREMENT
EMPLOYEE BENEFITS
2016
$
28,602

 
$
4,182

2017
28,250

 
3,917

2018
27,926

 
3,634

2019
27,673

 
3,380

2020
27,478

 
3,176

2021– 2025
132,612

 
12,584
Weighted Average Assumptions Used to Determine the Benefit Obligation
The weighted average assumptions used to determine the benefit obligation as of December 31 were:
  
 PENSION PLANS
 
OTHER POSTRETIREMENT
EMPLOYEE BENEFITS
  
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Discount rate
4.65
%
 
4.25
%
 
5.10
%
 
4.25
%
 
3.90
%
 
4.45
%
Rate of salaried compensation increase
3.00
%
 
3.00
%
 
3.00
%
 
—

 
—

 
—
Schedule of Weighted Average Assumptions Used to Determine the Net Periodic Benefit (Cost)
The weighted average assumptions used to determine the net periodic benefit (cost) for the years ended December 31 were:
  
PENSION PLANS
 
OTHER POSTRETIREMENT
EMPLOYEE BENEFITS
  
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Discount rate
4.25
%
 
5.10
%
 
4.15
%
 
3.90
%
 
4.45
%
 
3.70
%
Expected return on plan assets
6.75
%
 
7.50
%
 
8.00
%
 
—

 
—

 
—

Rate of salaried compensation increase
3.00
%
 
3.00
%
 
3.50
%
 
—

 
—

 
—
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one percentage point change in the health care cost trend rates would have the following effects on our December 31, 2015 Consolidated Financial Statements:
(Dollars in thousands)
1% INCREASE

 
1% DECREASE

Effect on total service cost plus interest cost
$
3,397

 
$
(3,262
)
Effect on accumulated postretirement benefit obligation
63,216

 
(63,216
)