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Pensions and Other Post-retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Schedule Of Defined Benefit Pension Plans And Other Postretirement Benefits Plan
Information pertaining to defined benefit pension plans and other post-retirement benefits plans is provided in the following table:
 
Pension Benefits
 
Other Benefits
(In thousands)
2015
 
2014
 
2015
 
2014
Change in Benefit Obligations
 
 
 
 
 
 
 
Benefit obligations at January 1
$
519,194

 
$
440,359

 
$
26,851

 
$
26,732

Service cost
11,517

 
9,425

 
444

 
538

Interest cost
18,314

 
19,340

 
863

 
1,107

Participant contributions
105

 
130

 
255

 
259

Plan amendments
604

 
(302
)
 

 

Actuarial (gains) losses
(21,073
)
 
88,069

 
(3,998
)
 
(200
)
Benefits paid
(19,261
)
 
(19,193
)
 
(1,441
)
 
(1,585
)
Settlements
(2,094
)
 
(717
)
 

 

Currency translation
(16,126
)
 
(17,917
)
 

 

Benefit obligations at December 31
491,180

 
519,194

 
22,974

 
26,851

Change in Plan Assets
 
 
 
 
 
 
 
Fair value of plan assets at January 1
445,299

 
434,569

 

 

Actual return on plan assets
(4,754
)
 
30,209

 

 

Employer contributions
4,058

 
4,077

 
1,186

 
1,326

Participant contributions
105

 
130

 
255

 
259

Settlements
(2,094
)
 
(717
)
 

 

Benefits paid
(16,979
)
 
(16,507
)
 
(1,441
)
 
(1,585
)
Reimbursement of German benefits
(2,282
)
 
(2,686
)
 

 

Administrative Expenses Paid
6

 

 

 

Currency translation
(4,271
)
 
(3,776
)
 

 

Fair value of plan assets at December 31
419,088

 
445,299

 

 

Funded Status
 
 
 
 
 
 
 
Funded status at December 31
(72,092
)
 
(73,895
)
 
(22,974
)
 
(26,851
)
Unrecognized transition losses
12

 
16

 

 

Unrecognized prior service cost (credit)
525

 
10

 
(1,524
)
 
(1,858
)
Unrecognized net actuarial losses
188,531

 
192,692

 
2,117

 
6,450

Net amount recognized
116,976

 
118,823

 
(22,381
)
 
(22,259
)
Amounts Recognized in the Balance Sheet
 
 
 
 
 
 
 
Noncurrent assets
62,072

 
75,017

 

 

Current liabilities
(5,033
)
 
(5,380
)
 
(1,382
)
 
(1,457
)
Noncurrent liabilities
(129,131
)
 
(143,532
)
 
(21,592
)
 
(25,394
)
Net amount recognized
(72,092
)
 
(73,895
)
 
(22,974
)
 
(26,851
)
Amounts Recognized in Accumulated Other Comprehensive Loss
 
 
 
 
 
 
 
Net actuarial losses
188,531

 
192,692

 
2,425

 
6,450

Prior service cost (credit)
525

 
10

 
(1,523
)
 
(1,858
)
Unrecognized net initial obligation
12

 
16

 

 

Total (before tax effects)
189,068

 
192,718

 
902

 
4,592

Accumulated Benefit Obligations for all Defined Benefit Plans
453,382

 
479,764

 

 

Components Of Net Periodic Benefit (Credit) Cost
 
Pension Benefits
 
Other Benefits
(In thousands)
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Components of Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
11,517

 
$
9,425

 
$
11,132

 
$
444

 
$
538

 
$
687

Interest cost
18,314

 
19,340

 
17,934

 
863

 
1,107

 
1,050

Expected return on plan assets
(34,130
)
 
(32,944
)
 
(30,884
)
 

 

 

Amortization of transition amounts
2

 
2

 
3

 

 

 

Amortization of prior service cost (credit)
66

 
84

 
102

 
(335
)
 
(335
)
 
(424
)
Recognized net actuarial losses
15,545

 
8,639

 
13,323

 
27

 
182

 
552

Settlement loss
641

 
290

 
658

 

 

 

Termination benefits

 

 

 

 

 

Net periodic benefit cost
11,955

 
4,836

 
12,268

 
999

 
1,492

 
1,865

Schedule Of Amounts Included In Accumulated Other Comprehensive Income Expected To Be Recognized In Net Periodic Benefit Costs
Amounts included in accumulated other comprehensive income expected to be recognized in 2016 net periodic benefit costs.
(In thousands)
Pension Benefits
 
Other Benefits
Loss recognition
$
12,254

 
$
11

Prior service cost (credit) recognition
61

 
(335
)
Transition obligation recognition
2

 

Schedule Of Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Cost
 
Pension Benefits
 
Other Benefits
 
2015
 
2014
 
2015
 
2014
Assumptions used to determine benefit obligations
 
 
 
 
 
 
 
Average discount rate
3.92
%
 
3.63
%
 
4.20
%
 
3.85
%
Rate of compensation increase
3.06
%
 
3.03
%
 

 

Assumptions used to determine net periodic benefit cost
 
 
 
 
 
 
 
Average discount rate
3.63
%
 
4.54
%
 
3.85
%
 
4.62
%
Expected return on plan assets
8.17
%
 
8.20
%
 

 

Rate of compensation increase
3.03
%
 
3.06
%
 

 

Schedule Of Expected Return On Assets For Net Periodic Pension Cost
 
Pension Plan Assets at
December 31,
 
2015
 
2014
Equity securities
67
%
 
65
%
Fixed income securities
24

 
26

Pooled investment funds
5

 
5

Insurance contracts
3

 
3

Cash and cash equivalents
1

 
1

Total
100
%
 
100
%
Summary Of Pension Plan Assets Measured At Fair Value On A Recurring Basis By Fair Value Hierarchy
The following table summarizes our pension plan assets measured at fair value on a recurring basis by fair value hierarchy level (See Note 17):
 
December 31, 2015
(In thousands)
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Fair
Value
Equity securities
$
225,191

 
$
55,428

 
$

 
$
280,619

Fixed income securities
29,903

 
70,164

 

 
100,067

Pooled investment funds

 
19,345

 

 
19,345

Insurance contracts

 

 
13,681

 
13,681

Cash and cash equivalents
5,376

 

 

 
5,376

Total
260,470

 
144,937

 
13,681

 
419,088

 
December 31, 2014
(In thousands)
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Fair
Value
Equity securities
$
233,156

 
$
54,614

 
$
248

 
$
288,018

Fixed income securities
41,447

 
72,412

 
505

 
114,364

Pooled investment funds

 
22,623

 

 
22,623

Insurance contracts

 

 
15,069

 
15,069

Cash and cash equivalents
5,225

 

 

 
5,225

Total
279,828

 
149,649

 
15,822

 
445,299

Schedule Of Reconciliation Of Level 3 Assets
The following table presents a reconciliation of Level 3 assets:
(In thousands)
Insurance
Contracts
 
Other
Balance January 1, 2014
$
13,512

 
$
780

Net realized and unrealized gains included in earnings
1,345

 
(180
)
Net purchases, issuances and settlements
212

 
505

Transfers into Level 3

 
(352
)
Balance December 31, 2014
15,069

 
753

Net realized and unrealized gains included in earnings
(1,526
)
 
(64
)
Net purchases, issuances and settlements
138

 
(184
)
Transfers out of Level 3

 
(505
)
Balance December 31, 2015
13,681