XML 97 R82.htm IDEA: XBRL DOCUMENT v3.3.1.900
Pension and Postretirement Benefits (Plan Assets) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
U.S Defined Benefit Plans      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance $ 426,784 $ 410,462  
Return on plan assets (5,160) 29,058  
Company contributions 21,031 20,746  
Benefits paid (34,437) (33,482)  
Ending balance 408,218 426,784 $ 410,462
Fair value of plan assets 426,784 410,462 410,462
U.S Defined Benefit Plans | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 40    
Ending balance 31 40  
Fair value of plan assets 40 40  
U.S Defined Benefit Plans | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 426,744    
Ending balance 408,187 426,744  
Fair value of plan assets 426,744 426,744  
U.S Defined Benefit Plans | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 0    
Ending balance 0 0  
Fair value of plan assets 0 0  
U.S Defined Benefit Plans | Cash      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 40    
Ending balance 31 40  
Fair value of plan assets 40 40  
U.S Defined Benefit Plans | Cash | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 40    
Ending balance 31 40  
Fair value of plan assets 40 40  
U.S Defined Benefit Plans | Cash | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 0    
Ending balance 0 0  
Fair value of plan assets 0 0  
U.S Defined Benefit Plans | Cash | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 0    
Ending balance 0 0  
Fair value of plan assets 0 0  
U.S Defined Benefit Plans | U.S. Large Cap      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [1] 82,355    
Ending balance [1] 77,765 82,355  
Fair value of plan assets [1] 82,355 82,355  
U.S Defined Benefit Plans | U.S. Large Cap | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [1] 0    
Ending balance [1] 0 0  
Fair value of plan assets [1] 0 0  
U.S Defined Benefit Plans | U.S. Large Cap | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [1] 82,355    
Ending balance [1] 77,765 82,355  
Fair value of plan assets [1] 82,355 82,355  
U.S Defined Benefit Plans | U.S. Large Cap | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [1] 0    
Ending balance [1] 0 0  
Fair value of plan assets [1] 0 0  
U.S Defined Benefit Plans | U.S. Small Cap      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [2] 17,422    
Ending balance [2] 16,160 17,422  
Fair value of plan assets [2] 17,422 17,422  
U.S Defined Benefit Plans | U.S. Small Cap | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [2] 0    
Ending balance [2] 0 0  
Fair value of plan assets [2] 0 0  
U.S Defined Benefit Plans | U.S. Small Cap | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [2] 17,422    
Ending balance [2] 16,160 17,422  
Fair value of plan assets [2] 17,422 17,422  
U.S Defined Benefit Plans | U.S. Small Cap | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [2] 0    
Ending balance [2] 0 0  
Fair value of plan assets [2] 0 0  
U.S Defined Benefit Plans | International Large Cap      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [3] 56,716    
Ending balance [3] 57,174 56,716  
Fair value of plan assets [3] 56,716 56,716  
U.S Defined Benefit Plans | International Large Cap | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [3] 0    
Ending balance [3] 0 0  
Fair value of plan assets [3] 0 0  
U.S Defined Benefit Plans | International Large Cap | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [3] 56,716    
Ending balance [3] 57,174 56,716  
Fair value of plan assets [3] 56,716 56,716  
U.S Defined Benefit Plans | International Large Cap | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [3] 0    
Ending balance [3] 0 0  
Fair value of plan assets [3] 0 0  
U.S Defined Benefit Plans | Emerging Markets      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [4] 19,175    
Ending balance [4] 19,888 19,175  
Fair value of plan assets [4] 19,175 19,175  
U.S Defined Benefit Plans | Emerging Markets | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [4] 0    
Ending balance [4] 0 0  
Fair value of plan assets [4] 0 0  
U.S Defined Benefit Plans | Emerging Markets | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [4] 19,175    
Ending balance [4] 19,888 19,175  
Fair value of plan assets [4] 19,175 19,175  
U.S Defined Benefit Plans | Emerging Markets | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [4] 0    
Ending balance [4] 0 0  
Fair value of plan assets [4] 0 0  
U.S Defined Benefit Plans | World Equity      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [5] 34,384    
Ending balance [5] 32,680 34,384  
Fair value of plan assets [5] 34,384 34,384  
U.S Defined Benefit Plans | World Equity | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [5] 0    
Ending balance [5] 0 0  
Fair value of plan assets [5] 0 0  
U.S Defined Benefit Plans | World Equity | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [5] 34,384    
Ending balance [5] 32,680 34,384  
Fair value of plan assets [5] 34,384 34,384  
U.S Defined Benefit Plans | World Equity | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [5] 0    
Ending balance [5] 0 0  
Fair value of plan assets [5] 0 0  
U.S Defined Benefit Plans | Liability Driven Investment      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [6] 172,758    
Ending balance [6] 159,900 172,758  
Fair value of plan assets [6] 172,758 172,758  
U.S Defined Benefit Plans | Liability Driven Investment | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [6] 0    
Ending balance [6] 0 0  
Fair value of plan assets [6] 0 0  
U.S Defined Benefit Plans | Liability Driven Investment | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [6] 172,758    
Ending balance [6] 159,900 172,758  
Fair value of plan assets [6] 172,758 172,758  
U.S Defined Benefit Plans | Liability Driven Investment | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [6] 0    
Ending balance [6] 0 0  
Fair value of plan assets [6] 0 0  
U.S Defined Benefit Plans | Long-Term Government/Credit      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [7] 43,934    
Ending balance [7] 44,620 43,934  
Fair value of plan assets [7] 43,934 43,934  
U.S Defined Benefit Plans | Long-Term Government/Credit | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [7] 0    
Ending balance [7] 0 0  
Fair value of plan assets [7] 0 0  
U.S Defined Benefit Plans | Long-Term Government/Credit | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [7] 43,934    
Ending balance [7] 44,620 43,934  
Fair value of plan assets [7] 43,934 43,934  
U.S Defined Benefit Plans | Long-Term Government/Credit | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [7] 0    
Ending balance [7] 0 0  
Fair value of plan assets [7] 0 0  
Non-U.S Defined Benefit Plans      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 215,360 195,042  
Acquisition 23,333 0  
Return on plan assets 3,017 30,246  
Employee contributions 312 272  
Company contributions 22,785 22,740  
Settlements (1,485) 0  
Currency translation impact and other (16,019) (14,955)  
Benefits paid (16,476) (17,985)  
Ending balance 230,827 215,360 195,042
Fair value of plan assets 215,360 195,042 195,042
Non-U.S Defined Benefit Plans | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 24    
Ending balance 5,641 24  
Fair value of plan assets 24 24  
Non-U.S Defined Benefit Plans | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 210,153    
Ending balance 210,855 210,153  
Fair value of plan assets 210,153 210,153  
Non-U.S Defined Benefit Plans | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 5,183    
Ending balance 14,331 5,183  
Fair value of plan assets 5,183 5,183  
Non-U.S Defined Benefit Plans | Cash      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 24    
Ending balance 5,641 24  
Fair value of plan assets 24 24  
Non-U.S Defined Benefit Plans | Cash | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 24    
Ending balance 5,641 24  
Fair value of plan assets 24 24  
Non-U.S Defined Benefit Plans | Cash | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 0    
Ending balance 0 0  
Fair value of plan assets 0 0  
Non-U.S Defined Benefit Plans | Cash | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 0    
Ending balance 0 0  
Fair value of plan assets 0 0  
Non-U.S Defined Benefit Plans | North American Companies      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [8] 7,155    
Ending balance [8] 13,737 7,155  
Fair value of plan assets [8] 7,155 7,155  
Non-U.S Defined Benefit Plans | North American Companies | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [8] 0    
Ending balance [8] 0 0  
Fair value of plan assets [8] 0 0  
Non-U.S Defined Benefit Plans | North American Companies | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [8] 7,155    
Ending balance [8] 13,737 7,155  
Fair value of plan assets [8] 7,155 7,155  
Non-U.S Defined Benefit Plans | North American Companies | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [8] 0    
Ending balance [8] 0 0  
Fair value of plan assets [8] 0 0  
Non-U.S Defined Benefit Plans | U.K. Companies      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [9] 18,829    
Ending balance [9] 18,003 18,829  
Fair value of plan assets [9] 18,829 18,829  
Non-U.S Defined Benefit Plans | U.K. Companies | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [9] 0    
Ending balance [9] 0 0  
Fair value of plan assets [9] 0 0  
Non-U.S Defined Benefit Plans | U.K. Companies | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [9] 18,829    
Ending balance [9] 18,003 18,829  
Fair value of plan assets [9] 18,829 18,829  
Non-U.S Defined Benefit Plans | U.K. Companies | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [9] 0    
Ending balance [9] 0 0  
Fair value of plan assets [9] 0 0  
Non-U.S Defined Benefit Plans | European Companies      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [10] 8,018    
Ending balance [10] 8,035 8,018  
Fair value of plan assets [10] 8,018 8,018  
Non-U.S Defined Benefit Plans | European Companies | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [10] 0    
Ending balance [10] 0 0  
Fair value of plan assets [10] 0 0  
Non-U.S Defined Benefit Plans | European Companies | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [10] 8,018    
Ending balance [10] 8,035 8,018  
Fair value of plan assets [10] 8,018 8,018  
Non-U.S Defined Benefit Plans | European Companies | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [10] 0    
Ending balance [10] 0 0  
Fair value of plan assets [10] 0 0  
Non-U.S Defined Benefit Plans | Asia Pacific Companies      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [11] 5,367    
Ending balance [11] 5,378 5,367  
Fair value of plan assets [11] 5,367 5,367  
Non-U.S Defined Benefit Plans | Asia Pacific Companies | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [11] 0    
Ending balance [11] 0 0  
Fair value of plan assets [11] 0 0  
Non-U.S Defined Benefit Plans | Asia Pacific Companies | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [11] 5,367    
Ending balance [11] 5,378 5,367  
Fair value of plan assets [11] 5,367 5,367  
Non-U.S Defined Benefit Plans | Asia Pacific Companies | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [11] 0    
Ending balance [11] 0 0  
Fair value of plan assets [11] 0 0  
Non-U.S Defined Benefit Plans | Global Equity      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [12] 17,120    
Ending balance [12] 19,581 17,120  
Fair value of plan assets [12] 17,120 17,120  
Non-U.S Defined Benefit Plans | Global Equity | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [12] 0    
Ending balance [12] 0 0  
Fair value of plan assets [12] 0 0  
Non-U.S Defined Benefit Plans | Global Equity | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [12] 17,120    
Ending balance [12] 19,581 17,120  
Fair value of plan assets [12] 17,120 17,120  
Non-U.S Defined Benefit Plans | Global Equity | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [12] 0    
Ending balance [12] 0 0  
Fair value of plan assets [12] 0 0  
Non-U.S Defined Benefit Plans | U.K. Government Gilt Index      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [13] 65,161    
Ending balance [13] 60,478 65,161  
Fair value of plan assets [13] 65,161 65,161  
Non-U.S Defined Benefit Plans | U.K. Government Gilt Index | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [13] 0    
Ending balance [13] 0 0  
Fair value of plan assets [13] 0 0  
Non-U.S Defined Benefit Plans | U.K. Government Gilt Index | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [13] 65,161    
Ending balance [13] 60,478 65,161  
Fair value of plan assets [13] 65,161 65,161  
Non-U.S Defined Benefit Plans | U.K. Government Gilt Index | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [13] 0    
Ending balance [13] 0 0  
Fair value of plan assets [13] 0 0  
Non-U.S Defined Benefit Plans | U.K. Corporate Bond Index      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [14] 47,683    
Ending balance [14] 44,318 47,683  
Fair value of plan assets [14] 47,683 47,683  
Non-U.S Defined Benefit Plans | U.K. Corporate Bond Index | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [14] 0    
Ending balance [14] 0 0  
Fair value of plan assets [14] 0 0  
Non-U.S Defined Benefit Plans | U.K. Corporate Bond Index | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [14] 47,683    
Ending balance [14] 44,318 47,683  
Fair value of plan assets [14] 47,683 47,683  
Non-U.S Defined Benefit Plans | U.K. Corporate Bond Index | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [14] 0    
Ending balance [14] 0 0  
Fair value of plan assets [14] 0 0  
Non-U.S Defined Benefit Plans | Global Index Income Bond      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [15] 40,820    
Ending balance [15] 41,325 40,820  
Fair value of plan assets [15] 40,820 40,820  
Non-U.S Defined Benefit Plans | Global Index Income Bond | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [15] 0    
Ending balance [15] 0 0  
Fair value of plan assets [15] 0 0  
Non-U.S Defined Benefit Plans | Global Index Income Bond | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [15] 40,820    
Ending balance [15] 41,325 40,820  
Fair value of plan assets [15] 40,820 40,820  
Non-U.S Defined Benefit Plans | Global Index Income Bond | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [15] 0    
Ending balance [15] 0 0  
Fair value of plan assets [15] 0 0  
Non-U.S Defined Benefit Plans | Other      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [16] 5,183    
Ending balance [16] 14,331 5,183  
Fair value of plan assets [16] 5,183 5,183  
Non-U.S Defined Benefit Plans | Other | Hierarchial Level 1      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [16] 0    
Ending balance [16] 0 0  
Fair value of plan assets [16] 0 0  
Non-U.S Defined Benefit Plans | Other | Hierarchial Level 2      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [16] 0    
Ending balance [16] 0 0  
Fair value of plan assets [16] 0 0  
Non-U.S Defined Benefit Plans | Other | Hierarchial Level 3      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance [16] 5,183    
Ending balance [16] 14,331 5,183  
Fair value of plan assets [16] 5,183 5,183  
Postretirement Medical Benefits      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Employee contributions 789 901  
Company contributions 5,100 3,800 $ 3,700
Benefits paid $ (5,924) $ (5,133)  
[1] U.S. Large Cap funds seek to outperform the Russell 1000 (R) Index with investments in large and medium capitalization U.S. companies represented in the Russell 1000 (R) Index, which is composed of the largest 1,000 U.S. equities as determined by market capitalization.
[2] U.S. Small Cap funds seek to outperform the Russell 2000 (R) Index with investments in medium and small capitalization U.S. companies represented in the Russell 2000 (R) Index, which is composed of the smallest 2,000 U.S. equities as determined by market capitalization.
[3] International Large Cap funds seek to outperform the MSCI Europe, Australia, and Far East Index with investments in most of the developed nations of the world so as to maintain a high degree of diversification among countries and currencies.
[4] Emerging Markets funds represent a diversified portfolio that seeks high, long-term returns comparable to investments in emerging markets by investing in stocks from newly developed emerging market economies.
[5] World Equity funds seek to outperform the Russell Developed Large Cap Index Net over a full market cycle. The fund's goal is to provide a favorable total return relative to the benchmark, primarily through long-term capital appreciation.
[6] LDI funds seek to outperform the Barclays-Russell LDI Index by investing in high quality, mostly corporate bonds and fixed income securities that closely match those found in discount curves used to value the plan's liabilities.
[7] Long-Term Government/Credit funds seek to outperform the Barclays Capital U.S. Long-Term Government/Credit Index by generating excess return through a variety of diversified strategies in securities with longer durations, such as sector rotation, security selection and tactical use of high-yield bonds.
[8] North American Companies represents U.S. and Canadian large cap equity index funds, which are passively managed and track their respective benchmarks (FTSE All-World USA Index and FTSE All-World Canada Index).
[9] U.K. Companies represents a U.K. equity index fund, which is passively managed and tracks the FTSE All-Share Index.
[10] European companies represents a European equity index fund, which is passively managed and tracks the FTSE All-World Developed Europe Ex-U.K. Index.
[11] Asian Pacific Companies represents Japanese and Pacific Rim equity index funds, which are passively managed and track their respective benchmarks (FTSE All-World Japan Index and FTSE All-World Developed Asia Pacific Ex-Japan Index).
[12] Global Equity represents actively managed, global equity funds taking a top-down strategic view on the different regions by analyzing companies based on fundamentals, market-driven, thematic and quantitative factors to generate alpha.
[13] U.K. Government Gilt Index represents U.K. government issued fixed income investments which are passively managed and track the respective benchmarks (FTSE U.K. Gilt Index-Linked Over 5 Years Index, FTSE U.K. Gilt Over 15 Years Index and FTSE U.K. Gilt Index-Linked Over 25 Years Index).
[14] U.K. Corporate Bond Index represents U.K. corporate bond investments, which are passively managed and track the iBoxx Over 15 years £ Non-Gilt Index.
[15] Global Fixed Income Bond represents investment funds that are actively managed, diversified and invested in traditional government bonds, high-quality corporate bonds, asset backed securities, emerging market debt.
[16] Includes assets held by plans outside the U.K. and The Netherlands. Details, including Level III rollforward details, have not been provided due to immateriality.