Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation And Retirement Disclosure [Abstract]

Principal Components of Employee Benefit Plan Expenses

The principal components of employee benefit plan expenses are as follows:

	Year ended December 31,
	2015		2014		2013
	(in thousands)
Expense:
Savings plan	$	37,326	$	16,333	$	10,458
Defined benefit pension plans		18,611		13,465		20,975
Unfunded supplemental benefit plans		17,373		14,614		16,673
Other plans, net		3,812		9,259		15,479
	$	77,122	$	53,671	$	63,585

Company's Benefit Obligations, Assets and Funded Status

The following table summarizes the benefit obligations, assets and funded status associated with the Company’s defined benefit pension and supplemental benefit plans:

	December 31,
	2015						2014
	Defined benefit pension plans			Unfunded supplemental benefit plans			Defined benefit pension plans			Unfunded supplemental benefit plans
	(in thousands)
Change in projected benefit obligation:
Benefit obligation at beginning of year	$	450,667		$	262,137		$	382,035		$	226,458
Service costs		—			1,560			—			1,315
Interest costs		17,537			10,207			18,644			10,536
Plan amendment		(4,775	)		—			—			—
Actuarial (gains) losses		(25,583	)		(11,835	)		76,164			37,281
Benefits paid		(21,430	)		(13,409	)		(26,176	)		(13,453	)
Projected benefit obligation at end of year		416,416			248,660			450,667			262,137
Change in plan assets:
Fair value of plan assets at beginning of year		339,365			—			313,469			—
Actual (losses) returns on plan assets		(9,620	)		—			24,400			—
Contributions		21,672			13,409			27,672			13,453
Benefits paid		(21,430	)		(13,409	)		(26,176	)		(13,453	)
Fair value of plan assets at end of year		329,987			—			339,365			—
Reconciliation of funded status:
Unfunded status of the plans	$	(86,429	)	$	(248,660	)	$	(111,302	)	$	(262,137	)
Amounts recognized in the consolidated balance sheet:
Accrued benefit liability	$	(86,429	)	$	(248,660	)	$	(111,302	)	$	(262,137	)
Amounts recognized in accumulated other comprehensive loss:
Unrecognized net actuarial loss	$	202,087		$	99,023		$	219,081		$	120,642
Unrecognized prior service (credit) cost		(4,775	)		(20,785	)		15			(24,964	)
	$	197,312		$	78,238		$	219,096		$	95,678
Accumulated benefit obligation at end of year	$	416,416		$	248,660		$	450,667		$	262,137

Net Periodic Cost

Net periodic cost related to the Company’s defined benefit pension and supplemental benefit plans includes the following components:

	Year ended December 31,
	2015			2014			2013
	(in thousands)
Expense:
Service costs	$	1,560		$	1,315		$	1,915
Interest costs		27,744			29,180			26,861
Expected return on plan assets		(21,802	)		(20,850	)		(18,776	)
Amortization of net actuarial loss		32,645			22,587			32,033
Amortization of prior service credit		(4,163	)		(4,153	)		(4,385	)
	$	35,984		$	28,079		$	37,648

Weighted-Average Actuarial Assumptions Used to Determine Costs and Benefit Obligations

Weighted-average actuarial assumptions used to determine costs for the plans for the years ended December 31, 2015 and 2014, were as follows:

	December 31,
	2015			2014
Defined benefit pension plans
Discount rate		4.07	%		4.97	%
Rate of return on plan assets		6.50	%		6.50	%
Unfunded supplemental benefit plans
Discount rate		4.00	%		4.80	%

Weighted-average actuarial assumptions used to determine benefit obligations for the plans at December 31, 2015 and 2014, were as follows:

	December 31,
	2015			2014
Defined benefit pension plans
Discount rate		4.31	%		4.07	%
Unfunded supplemental benefit plans
Discount rate		4.33	%		4.00	%

Target Asset Allocation Based On Funded Status

Asset allocation targets, based on settlement funded status, are as follows:

Settlement funded status		Return seeking assets		Liability tracking assets
100.0	%	0	%	100	%
97.5	%	15	%	85	%
95.0	%	30	%	70	%
92.5	%	40	%	60	%
90.0	%	50	%	50	%
87.5	%	60	%	40	%
85.0	%	70	%	30	%
Below 85.0%		85	%	15	%

Defined Benefit Pension Plan Asset Allocation

A summary of the defined benefit pension plan’s asset allocations are as follows:

	December 31,
	2015			2014
Asset category
Cash and cash equivalents		1.1	%		0.3	%
Equities		57.2	%		45.5	%
Fixed income funds		39.3	%		32.5	%
Balanced funds		—			19.4	%
Other		2.4	%		2.3	%

Benefit Payments

Benefit payments for all plans, which reflect expected future service, as appropriate, are expected to be made as follows:

Year	(in thousands)
2016	$	42,890
2017	$	43,985
2018	$	44,920
2019	$	44,935
2020	$	44,701
Five years thereafter	$	223,753

Defined Benefit Pension Plan Assets at Fair Value

The following table presents the fair value of the Company’s defined benefit pension plan assets as of December 31, 2015 and 2014:

December 31, 2015	Estimated fair value		Level 1		Level 2		Level 3
December 31, 2015	(in thousands)
Cash and cash equivalents	$	3,621	$	3,621	$	—	$	—
Equities (a)		129,633		83,675		45,958		—
Fixed income funds (b)		188,801		116,204		72,597		—
Other (d)		7,932		—		—		7,932
	$	329,987	$	203,500	$	118,555	$	7,932

December 31, 2014	Estimated fair value		Level 1		Level 2		Level 3
December 31, 2014	(in thousands)
Cash and cash equivalents	$	1,101	$	1,101	$	—	$	—
Equities (a)		154,279		101,304		52,975		—
Fixed income funds (b)		110,405		59,507		50,898		—
Balanced funds (c)		65,856		—		65,856		—
Other (d)		7,724		—		—		7,724
	$	339,365	$	161,912	$	169,729	$	7,724

(a) Investments in passively managed index funds, actively managed mutual funds with holdings in domestic and international equities, and investments in domestic equities. These investments are valued at the closing price reported on the major market on which the individual securities are traded or the Net Asset Value (“NAV”) provided by the administrator of the fund.

(b) Investments in passively managed index funds and actively managed mutual funds with holdings in domestic and foreign corporate bonds, foreign government bonds, mortgage-backed securities, and other fixed income instruments. These investments are valued using matrix pricing models and quoted prices of the securities in active markets.

(c) Investments in global multi-asset risk parity strategy funds with holdings in domestic and international debt and equity securities, commodities, real estate, and derivative investments. These investments are valued using the NAV provided by the administrator of the fund.

(d) Investments in a guaranteed deposit fund with holdings in insurance contracts. These investments are valued at contract value of the fund including contributions and earnings, less applicable costs and liabilities, as provided by the administrator of the fund.