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Pensions and Other Post-retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2019
Retirement Benefits [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 tables:
 
Pension Benefits
 
Other Benefits
(In thousands)
2019
 
2018
 
2019
 
2018
Change in Benefit Obligations
 
 
 
 
 
 
 
Benefit obligations at January 1
$
525,520

 
$
560,385

 
$
28,477

 
$
22,027

Service cost
10,342

 
11,125

 
354

 
369

Interest cost
18,803

 
17,214

 
996

 
793

Participant contributions
470

 
97

 
380

 
302

Actuarial losses (gains)
81,132

 
(29,181
)
 
1,319

 
7,841

Benefits paid
(24,452
)
 
(23,724
)
 
(3,375
)
 
(2,855
)
Curtailments

 
(2,151
)
 

 

Settlements
(7,265
)
 
(726
)
 

 

Currency translation
(999
)
 
(7,519
)
 

 

Benefit obligations at December 31
603,551

 
525,520

 
28,151

 
28,477

Change in Plan Assets
 
 
 
 
 
 
 
Fair value of plan assets at January 1
443,112

 
492,677

 

 

Actual return on plan assets
98,210

 
(26,804
)
 

 

Employer contributions
5,537

 
4,718

 
2,995

 
2,553

Participant contributions
470

 
97

 
380

 
302

Settlements
(7,265
)
 
(726
)
 

 

Benefits paid
(24,452
)
 
(23,724
)
 
(3,375
)
 
(2,855
)
Administrative Expenses Paid
(297
)
 
(704
)
 

 

Currency translation
543

 
(2,422
)
 

 

Fair value of plan assets at December 31
515,858

 
443,112

 

 

Funded Status
 
 
 
 
 
 
 
Funded status at December 31
(87,693
)
 
(82,408
)
 
(28,151
)
 
(28,477
)
Unrecognized transition losses
4

 
5

 

 

Unrecognized prior service credit
1,572

 
(687
)
 
(1,519
)
 
(1,924
)
Unrecognized net actuarial losses
183,733

 
178,640

 
12,547

 
12,096

Net amount recognized
97,616

 
95,550

 
(17,123
)
 
(18,305
)
Amounts Recognized in the Balance Sheet
 
 
 
 
 
 
 
Noncurrent assets
75,066

 
57,568

 

 

Current liabilities
(5,944
)
 
(5,741
)
 
(2,406
)
 
(2,736
)
Noncurrent liabilities
(156,815
)
 
(134,231
)
 
(25,745
)
 
(25,741
)
Net amount recognized
(87,693
)
 
(82,404
)
 
(28,151
)
 
(28,477
)
Amounts Recognized in Accumulated Other Comprehensive Loss
 
 
 
 
 
 
 
Net actuarial losses
183,733

 
178,640

 
12,547

 
12,096

Prior service credit
1,572

 
(687
)
 
(1,519
)
 
(1,924
)
Unrecognized net initial obligation
4

 
5

 

 

Total (before tax effects)
185,309

 
177,958

 
11,028

 
10,172

Accumulated Benefit Obligations for all Defined Benefit Plans
558,183

 
489,159

 

 


Components Of Net Periodic Benefit (Credit) Cost
 
Pension Benefits
 
Other Benefits
(In thousands)
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Components of Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
10,342

 
$
11,125

 
$
11,023

 
$
354

 
$
369

 
$
403

Interest cost
18,803

 
17,214

 
18,450

 
996

 
793

 
882

Expected return on plan assets
(38,644
)
 
(36,352
)
 
(35,417
)
 

 

 

Amortization of transition amounts
2

 
1

 
2

 

 

 

Amortization of prior service cost (credit)
223

 
(21
)
 
(19
)
 
(405
)
 
(405
)
 
(307
)
Recognized net actuarial losses
10,159

 
13,755

 
12,955

 
869

 
752

 
100

Settlement/curtailment loss (credit)
2,497

(c) 
179

 
148

 

 

 
(562
)
Special termination charge

 

 
11,384

(b) 

 

 

Net periodic benefit cost(a)
$
3,382

 
$
5,901

 
$
18,526

 
$
1,814

 
$
1,509

 
$
516


Schedule Of Amounts Included In Accumulated Other Comprehensive Income Expected To Be Recognized In Net Periodic Benefit Costs
Amounts included in accumulated other comprehensive loss expected to be recognized in 2020 net periodic benefit costs:
(In thousands)
Pension Benefits
 
Other Benefits
Loss recognition
$
15,740

 
$
1,145

Prior service cost (credit) recognition
184

 
(394
)
Transition obligation recognition

 


Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
Information for pension plans with an accumulated benefit obligation in excess of plan assets:
(In thousands)
2019
 
2018
Aggregate accumulated benefit obligations (ABO)
$
185,747

 
$
159,545

Aggregate projected benefit obligations (PBO)
198,633

 
168,819

Aggregate fair value of plan assets
35,882

 
28,876


Schedule Of Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Cost
 
Pension Benefits
 
Other Benefits
 
2019
 
2018
 
2019
 
2018
Assumptions used to determine benefit obligations
 
 
 
 
 
 
 
Average discount rate
2.86
%
 
3.79
%
 
3.05
%
 
4.21
%
Rate of compensation increase
2.93
%
 
3.00
%
 

 

Assumptions used to determine net periodic benefit cost
 
 
 
 
 
 
 
Average discount rate - Service cost
3.10
%
 
3.34
%
 
3.15
%
 
3.57
%
Average discount rate - Interest cost
2.52
%
 
3.34
%
 
2.61
%
 
3.57
%
Expected return on plan assets
7.09
%
 
7.99
%
 

 

Rate of compensation increase
2.93
%
 
3.00
%
 

 


Schedule Of Expected Return On Assets For Net Periodic Pension Cost
 
Pension Plan Assets at
December 31,
 
2019
 
2018
Equity securities
46
%
 
58
%
Fixed income securities
30

 
25

Pooled investment funds
19

 
11

Insurance contracts
4

 
4

Cash and cash equivalents
1

 
2

Total
100
%
 
100
%

Summary Of Pension Plan Assets Measured At Fair Value On A Recurring Basis By Fair Value Hierarchy The fair values at December 31, 2019, were as follows:
 
 
 
 
 
Fair Value
(In thousands)
Total
 
NAV
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Equity securities
$
235,491

 
$
56,449

 
$
179,042

 
$

 
$

Fixed income securities
154,640

 

 
73,874

 
80,766

 

Pooled investment funds
97,373

 
97,373

 

 

 

Insurance contracts
21,502

 

 

 

 
21,502

Cash and cash equivalents
6,852

 
5,792

 
1,060

 

 

Total
$
515,858

 
$
159,614

 
$
253,976

 
$
80,766

 
$
21,502

The fair values of the Company's pension plan assets at December 31, 2018, were as follows:
 
 
 
 
 
Fair Value
(In thousands)
Total
 
NAV
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Equity securities
$
259,014

 
$
62,027

 
$
196,987

 
$

 
$

Fixed income securities
109,876

 

 
28,312

 
81,564

 

Pooled investment funds
49,823

 
49,823

 

 

 

Insurance contracts
17,033

 

 

 

 
17,033

Cash and cash equivalents
7,366

 
6,259

 
1,107

 

 

Total
$
443,112

 
$
118,109

 
$
226,406

 
$
81,564

 
$
17,033


Schedule Of Reconciliation Of Level 3 Assets
The following table presents a reconciliation of Level 3 assets:
(In thousands)
Insurance
Contracts
Balance January 1, 2018
$
17,834

Net realized and unrealized losses
(957
)
Net purchases, issuances and settlements
156

Balance December 31, 2018
17,033

Net realized and unrealized gains
5,602

Net purchases, issuances and settlements
(1,133
)
Balance December 31, 2019
$
21,502