Pensions and Postretirement Benefits Other than Pensions (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Defined Benefit Pension and Other Postretirement Benefits Plans

The following table reflects changes in the projected obligations and fair market values of assets in all defined benefit pension and other postretirement benefit plans of the Company:

	2015 Pension Benefits									2014 Pension Benefits									Other Postretirement Benefits
	Domestic			International			Total			Domestic			International			Total			2015			2014
Change in benefit obligation:
Projected Benefit Obligation at January 1	$	1,105,100		$	457,233		$	1,562,333		$	973,276		$	431,146		$	1,404,422		$	278,867		$	252,866
Service cost - employer		11,037			9			11,046			9,760			8			9,768			2,513			2,404
Interest cost		40,202			15,853			56,055			42,842			19,620			62,462			10,320			11,305
Actuarial (gain)/loss		(52,663	)		(27,763	)		(80,426	)		137,217			47,015			184,232			(13,726	)		24,294
Benefits paid		(58,209	)		(14,321	)		(72,530	)		(57,995	)		(14,631	)		(72,626	)		(12,395	)		(12,002	)
Foreign currency translation effect		—			(25,127	)		(25,127	)		—			(25,925	)		(25,925	)		—			—
Projected Benefit Obligation at December 31	$	1,045,467		$	405,884		$	1,451,351		$	1,105,100		$	457,233		$	1,562,333		$	265,579		$	278,867
Change in plans’ assets:
Fair value of plans’ assets at January 1	$	857,825		$	330,848		$	1,188,673		$	823,790		$	288,524		$	1,112,314		$	—		$	—
Actual return on plans’ assets		1,095			(746	)		349			56,284			65,128			121,412			—			—
Employer contribution		35,803			12,027			47,830			35,746			12,454			48,200			—			—
Benefits paid		(58,209	)		(14,321	)		(72,530	)		(57,995	)		(14,631	)		(72,626	)		—			—
Foreign currency translation effect		—			(17,892	)		(17,892	)		—			(20,627	)		(20,627	)		—			—
Fair value of plans’ assets at December 31	$	836,514		$	309,916		$	1,146,430		$	857,825		$	330,848		$	1,188,673		$	—		$	—
Funded status	$	(208,953	)	$	(95,968	)	$	(304,921	)	$	(247,275	)	$	(126,385	)	$	(373,660	)	$	(265,579	)	$	(278,867	)
Amounts recognized in the balance sheets:
Accrued liabilities	$	(300	)	$	—		$	(300	)	$	(300	)	$	—		$	(300	)	$	(15,929	)	$	(14,562	)
Postretirement benefits other than pensions		—			—			—			—			—			—			(249,650	)		(264,305	)
Pension benefits		(208,653	)		(95,968	)	$	(304,621	)		(246,975	)		(126,385	)	$	(373,360	)		—			—

Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted average assumptions used to determine benefit obligations at December 31:

	Pension Benefits						Other Postretirement Benefits
	2015			2014			2015			2014
All plans
Discount rate		4.10	%		3.70	%		4.20	%		3.80	%
Domestic plans
Discount rate		4.20	%		3.75	%		4.20	%		3.80	%
Foreign plans
Discount rate		3.84	%		3.59	%		—			—

Components of Net Periodic Benefit Costs

At December 31, 2015, the weighted average assumed annual rate of increase in the cost of medical benefits was 7.00 percent for 2016 trending linearly to 4.50 percent per annum in 2023.

	Pension Benefits - Domestic									Pension Benefits - International
	2015			2014			2013			2015			2014			2013
Components of net periodic benefit cost:
Service cost	$	11,037		$	9,760		$	11,879		$	9		$	8		$	8
Interest cost		40,202			42,842			38,751			15,853			19,620			15,661
Expected return on plan assets		(55,299	)		(52,543	)		(47,555	)		(12,421	)		(19,977	)		(14,981	)
Amortization of actuarial loss		39,514			28,021			44,370			7,222			8,452			6,564
Net periodic benefit cost	$	35,454		$	28,080		$	47,445		$	10,663		$	8,103		$	7,252

	Other Post Retirement Benefits
	2015			2014			2013
Components of net periodic benefit cost:
Service cost	$	2,513		$	2,404		$	3,813
Interest cost		10,320			11,305			10,791
Amortization of prior service cost		(566	)		(566	)		(566	)
Amortization of actuarial loss		—			—			1,915
Net periodic benefit cost	$	12,267		$	13,143		$	15,953

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31:

	Pension Benefits									Other Postretirement Benefits
	2015			2014			2013			2015			2014			2013
All plans
Discount rate		3.70	%		4.53	%		3.92	%		3.80	%		4.60	%		3.60	%
Expected return on plan assets		6.12	%		6.91	%		6.75	%		—			—			—
Rate of compensation increase		0.00	%		0.00	%		0.00	%		—			—			—
Domestic plans
Discount rate		3.75	%		4.55	%		3.75	%		3.80	%		4.60	%		3.60	%
Expected return on plan assets		7.00	%		7.00	%		7.00	%		—			—			—
Foreign plans
Discount rate		3.59	%		4.49	%		4.39	%		—			—			—
Expected return on plan assets		3.84	%		6.66	%		6.01	%		—			—			—
Rate of compensation increase		0.00	%		0.00	%		0.00	%		—			—			—

Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Pension Plans

The following table lists the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets at December 31, 2015 and 2014:

	2015				2014
	Projected benefit obligation exceeds plan assets		Accumulated benefit obligation exceeds plan assets		Projected benefit obligation exceeds plan assets		Accumulated benefit obligation exceeds plan assets
Projected benefit obligation	$	1,451,351	$	1,451,351	$	1,562,333	$	1,562,333
Accumulated benefit obligation		1,448,277		1,448,277		1,558,908		1,558,908
Fair value of plan assets		1,146,430		1,146,430		1,188,673		1,188,673

One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage-point change in assumed health care cost trend rates would have the following effects:

	Percentage Point
	Increase		Decrease
Increase (decrease) in total service and interest cost components	$	67	$	(60	)
Increase (decrease) in the postretirement benefit obligation		1,602		(1,426	)

Weighted Average Asset Allocations for Domestic and U.K. Pension Plans' Assets

The table below presents the Company’s weighted average asset allocations for its domestic and U.K. pension plans’ assets at December 31, 2015 and December 31, 2014 by asset category.

	U.S. Plans						U.K. Plan
Asset Category	2015			2014			2015			2014
Equity securities		59	%		53	%		21	%		20	%
Debt securities		41			47			70			72
Other investments		0			0			9			8
Cash		0			0			0			0
Total		100	%		100	%		100	%		100	%

Assets of U.S and U.K Plans Using Fair Value Hierarchy

The table below classifies the assets of the U.S. and U.K. plans using the Fair Value Hierarchy described in Note 10 – Fair Value of Financial Instruments. Certain amounts for 2014 have been reclassified to conform to the current year presentation including reclassifying $12,775 from Level 2 Other investments to Level 3 Other investments in the United Kingdom plan.

			Fair Value Hierarchy
	Total		Level 1		Level 2		Level 3
December 31, 2015
United States plans
Cash & Cash Equivalents	$	724	$	724	$	—	$	—
Equity securities		495,933		149,894		346,039		—
Fixed income securities		339,857		133,420		206,437		—
	$	836,514	$	284,038	$	552,476	$	—
United Kingdom plan
Cash & Cash Equivalents	$	917	$	917	$	—	$	—
Equity securities		65,391		65,391		—		—
Fixed income securities		214,762		214,762		—		—
Other investments		27,062		—		—		27,062
	$	308,132	$	281,070	$	—	$	27,062
December 31, 2014
United States plans
Cash & Cash Equivalents	$	770	$	770	$	—	$	—
Equity securities		451,893		153,129		298,764		—
Fixed income securities		405,162		137,693		267,469		—
	$	857,825	$	291,592	$	566,233	$	—
United Kingdom plan
Cash & Cash Equivalents	$	935	$	935	$	—	$	—
Equity securities		67,280		67,280		—		—
Fixed income securities		234,775		234,775		—		—
Other investments		25,812		—		—		25,812
	$	328,802	$	302,990	$	—	$	25,812

Details of Activity in Investment in European Infrastructure and Property Funds

The following table details the activity in this investment for the years ended December 31, 2014 and 2015:

	Infrastructure and Property Funds
Balance at December 31, 2013	$	13,915
Transfer into level 3 - property fund		12,719
Disbursements		—
Change in fair value		—
Foreign currency translation effect		(822	)
Balance at December 31, 2014		25,812
Transfer into level 3		—
Disbursements		—
Change in fair value		2,798
Foreign currency translation effect		(1,548	)
Balance at December 31, 2015	$	27,062

Estimated Benefit Payments for Domestic and Foreign Pension Plans and Other Postretirement Benefit Plans

The Company estimates its benefit payments for its domestic and foreign pension plans and other postretirement benefit plans during the next ten years to be as follows:

	Pension Benefits		Other Postretirement Benefits
2016	$	82,900	$	15,929
2017		78,612		16,233
2018		80,936		16,492
2019		81,072		16,773
2020		82,220		17,198