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Savings Plans, Pension Plans and Other Postretirement Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2017

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						OPEB
(Dollars in thousands)	2017			2016			2017			2016
Benefit obligation at beginning of year	$	(385,461	)	$	(382,071	)	$	(33,337	)	$	(35,471	)
Service cost		(6,753	)		(6,508	)		(14	)		(14	)
Interest cost		(16,096	)		(17,020	)		(1,262	)		(1,421	)
Actuarial (loss) gain		(15,876	)		(13,997	)		471			(313	)
Benefits paid		31,815			34,135			3,793			3,882
Benefit obligation at end of year	$	(392,371	)	$	(385,461	)	$	(30,349	)	$	(33,337	)

Fair value of plan assets at beginning of year	$	289,675		$	292,200		$	—		$	—
Actual return on plan assets		49,158			28,626			—			—
Employer contributions and benefit payments		6,844			2,984			3,794			3,882
Benefits paid		(31,815	)		(34,135	)		(3,794	)		(3,882	)
Fair value of plan assets at end of year	$	313,862		$	289,675		$	—		$	—

Amounts recognized in the consolidated balance sheets:
Current liabilities	$	(1,629	)	$	(1,824	)	$	(3,705	)	$	(4,015	)
Noncurrent liabilities		(76,880	)		(93,962	)		(26,644	)		(29,322	)
Funded status	$	(78,509	)	$	(95,786	)	$	(30,349	)	$	(33,337	)

Schedule of Actual 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		2017		2016
Domestic and international equities		37	%	36	%
Fixed income securities		47		48
Other (includes cash and cash equivalents and alternatives)		16		16
Total		100	%	100	%

Schedule of Allocation of Plan Assets

Fair value measurements are as follows:

(Dollars in thousands)	December 31, 2017
Asset Category	Level 1		Level 2		Total
Cash and cash equivalents	$	3,004	$	—	$	3,004
Domestic equity securities¹		29,178		28,382		57,560
International equity securities²		—		28,413		28,413
Emerging markets³		12		29,245		29,257
Fixed income securities⁴		148,833		—		148,833
Alternatives⁵		—		46,795		46,795
Total	$	181,027	$	132,835	$	313,862

(Dollars in thousands)	December 31, 2016
Asset Category	Level 1		Level 2		Total
Cash and cash equivalents	$	2,845	$	—	$	2,845
Domestic equity securities¹		25,409		26,279		51,688
International equity securities²		—		26,555		26,555
Emerging markets³		12		26,391		26,403
Fixed income securities⁴		138,897		—		138,897
Alternatives⁵		—		43,287		43,287
Total	$	167,163	$	122,512	$	289,675

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	Level 2 assets are collective investments in equity funds of developed markets outside of the United States and Canada that track the MSCI EAFE Value index or MSCI EAFE Growth index.

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	Level 1 assets 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

Level 2 assets 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.

Pre-tax Components of Net Periodic Cost (Benefit)

Pre-tax components of net periodic cost (benefit) recognized in our Consolidated Statements of Income were as follows:

	Pension Plans									OPEB
(Dollars in thousands)		2017			2016			2015			2017			2016			2015
Service cost	$	6,753		$	6,508		$	6,159		$	14		$	14		$	22
Interest cost		16,096			17,020			17,012			1,262			1,421			1,456
Expected return on plan assets		(18,406	)		(18,999	)		(20,804	)		—			—			—
Amortization of prior service cost (credit)		288			518			605			(8,877	)		(8,877	)		(9,312	)
Amortization of actuarial loss		14,484			16,339			17,937			1,537			1,717			2,047
Net periodic cost (benefit)	$	19,215		$	21,386		$	20,909		$	(6,064	)	$	(5,725	)	$	(5,787	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Other amounts recognized in our Consolidated Statements of Comprehensive Income were as follows:

	Pension Plans									OPEB
(Dollars in thousands)		2017			2016			2015			2017			2016			2015
Net amount at beginning of year	$	120,627		$	128,244		$	134,261		$	(9,182	)	$	(13,741	)	$	(15,869	)
Amounts arising during the period:
Net (gain) loss		(14,874	)		4,370			8,680			(471	)		313			(3,777	)
Taxes		3,869			(1,704	)		(3,386	)		121			(122	)		1,473
Net amount arising during the period		(11,005	)		2,666			5,294			(350	)		191			(2,304	)

Amounts reclassified during the period:
Amortization of prior service (cost) credit		(288	)		(518	)		(605	)		8,877			8,877			9,312
Amortization of actuarial loss		(14,484	)		(16,339	)		(17,937	)		(1,537	)		(1,717	)		(2,047	)
Taxes		5,761			6,574			7,231			(2,863	)		(2,792	)		(2,833	)
Net reclassifications during the period		(9,011	)		(10,283	)		(11,311	)		4,477			4,368			4,432
Net amount at end of year	$	100,611		$	120,627		$	128,244		$	(5,055	)	$	(9,182	)	$	(13,741	)

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				OPEB
(Dollars in thousands)	2017		2016			2017			2016
Net loss	$	100,070	$	120,006	$	10,165		$	8,778
Prior service cost (credit)		541		621		(15,220	)		(17,960	)
Net amount recognized	$	100,611	$	120,627	$	(5,055	)	$	(9,182	)

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		OPEB
2018	$	28,536	$	3,704
2019	$	28,264	$	3,454
2020	$	27,951	$	3,231
2021	$	27,588	$	2,944
2022	$	27,255	$	2,760
2022–2026	$	128,115	$	10,557

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							OPEB
		2017		2016		2015			2017		2016		2015
Discount rate		3.85	%	4.40	%	4.65	%		3.65	%	4.10	%	4.25	%
Rate of salaried compensation increase		3.00	%	3.00	%	3.00	%		—		—		—

Schedule of Weighted Average Assumptions Used to Determine the Net Periodic Cost (Benefit)

The weighted average assumptions used to determine the net periodic cost (benefit) for the years ended December 31 were:

	Pension Plans							OPEB
		2017		2016		2015			2017		2016		2015
Discount rate		4.40	%	4.65	%	4.25	%		4.10	%	4.25	%	3.90	%
Expected return on plan assets		6.50	%	6.50	%	6.75	%		—		—		—
Rate of salaried compensation increase		3.00	%	3.00	%	3.00	%		—		—		—

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, 2017 Consolidated Financial Statements:

(Dollars in thousands)	1% Increase		1% Decrease
Effect on total service cost plus interest cost	$	28	$	(24	)
Effect on accumulated postretirement benefit obligation	$	443	$	(373	)