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PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits, Description [Abstract]  
Schedule of Net Benefit Costs [Table Text Block] The net pension and net postretirement benefit costs consisted of the following:
Pension Benefits
(In thousands)202220212020
Service cost$23,217 $26,735 $26,013 
Interest cost20,923 17,419 23,847 
Expected return on plan assets(54,855)(60,286)(67,217)
Amortization of prior service cost(318)(251)(269)
Recognized net actuarial loss17,198 28,905 23,062 
Cost of settlements/curtailments4,499 3,310 2,395 
Special termination benefits— 52 — 
Net periodic benefit cost$10,664 $15,884 $7,831 
ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock The following table outlines the Corporation's consolidated disclosure of the pension benefits information described previously. The Corporation had no foreign postretirement plans. All plans were valued using a December 31, 2022 measurement date.
Pension Benefits
(In thousands)20222021
Change in benefit obligation:
Beginning of year$979,070 $1,044,035 
Service cost23,217 26,735 
Interest cost20,923 17,419 
Plan participants’ contributions1,229 1,304 
Actuarial (gain) loss(201,592)(37,825)
Benefits paid(75,770)(68,965)
Actual expenses(1,681)(1,491)
Acquisitions496 — 
Divestitures(4,341)— 
Amendments— (477)
Special termination benefits— 52 
Currency translation adjustments(8,117)(1,717)
End of year$733,434 $979,070 
Change in plan assets:
Beginning of year$1,156,616 $1,050,509 
Actual return on plan assets(182,519)163,881 
Employer contribution24,865 12,766 
Plan participants’ contributions1,229 1,304 
Benefits paid(75,770)(68,965)
Actual expenses(1,681)(1,491)
Currency translation adjustments(10,038)(1,388)
End of year$912,702 $1,156,616 
Funded status$179,268 $177,546 
Pension Benefits
(In thousands)20222021
Amounts recognized on the balance sheet
Noncurrent assets$222,627 $256,422 
Current liabilities(3,272)(6,257)
Noncurrent liabilities(1)
(40,087)(72,619)
Total$179,268 $177,546 
Amounts recognized in accumulated other comprehensive income (AOCI)
Net actuarial loss (gain)$133,813 $120,676 
Prior service cost(239)(544)
Total$133,574 $120,132 
Information for plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation$64,669 $101,667 
Accumulated benefit obligation61,368 95,755 
Fair value of plan assets21,311 22,792 
(1) As of December 31, 2021, this caption includes accrued pension and other postretirement benefit costs of $4.4 million, reflected in the "Liabilities held for sale" caption within the Consolidated Balance Sheet.
ScheduleOfAssumptionsUsedTableTextBlock Plan Assumptions
Pension Benefits
20222021
Weighted-average assumptions in determination of benefit obligation:
Discount rate4.95 %2.72 %
Rate of compensation increase3.34 %3.40 %
Health care cost trends:
Rate assumed for subsequent yearN/AN/A
Ultimate rate reached in 2032
N/AN/A
Weighted-average assumptions in determination of net periodic benefit cost:
Discount rate2.72 %2.36 %
Expected return on plan assets5.47 %6.18 %
Rate of compensation increase3.40 %3.41 %
Health care cost trends:
Rate assumed for subsequent yearN/AN/A
Ultimate rate reached in 2032
N/AN/A
ScheduleOfAllocationOfPlanAssetsTableTextBlock Below are the Corporation’s actual and current target allocations for the CW Pension Plan, representing 91% of consolidated assets:
As of December 31,TargetExpected
20222021ExposureRange
Asset class
Domestic equities33%56%32%
27%-37%
International equities11%15%13%
9%-17%
Total equity44%71%45%
35%-55%
Fixed income56%29%55%
45%-65%
ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
The following table presents consolidated plan assets (in thousands) using the fair value hierarchy as of December 31, 2022.
Asset CategoryTotalQuoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents$36,788 $3,632 $33,156 $— 
Equity securities- Mutual funds (1)
771,655 655,995 115,660 — 
Bond funds (2)
343,630 229,973 113,657 — 
Other (3)
4,543 — — 4,543 
December 31, 2021$1,156,616 $889,600 $262,473 $4,543 
Cash and cash equivalents$33,272 $730 $32,542 $— 
Equity securities - Mutual funds (1)
388,343 370,028 18,315 — 
Bond funds (2)
481,169 373,963 107,206 — 
Other (3)
9,918 4,167 — 5,751 
December 31, 2022$912,702 $748,888 $158,063 $5,751 

(1)This category consists of domestic and international equity securities. It is comprised of U.S. securities benchmarked against the S&P 500 index and Russell Mid Cap and Russell 2000 indices, international mutual funds benchmarked against the MSCI EAFE and EM indices, global equity index mutual funds associated with our U.K. based pension plans, and balanced funds associated with the U.K. and Canadian based pension plans.

(2)This category consists of This category consists of domestic and international bonds. The domestic fixed income securities consist of a portfolio of investment grade corporate debt, below investment-grade issues, fixed income exchange traded funds, and U.S. Treasury securities of intermediate and long-term duration for liability matching fixed income. International bonds consist of bond mutual funds for institutional investors associated with the Switzerland and U.K. based pension plans.

(3)This category consists of a domestic real estate fund and real estate investment trusts in Switzerland.
ScheduleOfExpectedBenefitPaymentsTableTextBlock The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid from the plans:
(In thousands)Pension
Plans
2023$49,927 
202452,943 
202554,251 
202656,270 
202755,995 
2028 — 2032281,544