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Retirement Plans and Postretirement Medical Benefits (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Schedule of Change in Benefit Obligation, Plan Assets and the Funded Status of Defined Benefit Pension Plans The benefit obligations and funded status of defined benefit pension plans are as follows:
United StatesForeign
2020201920202019
Accumulated benefit obligation$1,729,515 $1,612,551 $829,413 $745,658 
Projected benefit obligation
Benefit obligation - beginning of year$1,613,054 $1,501,140 $746,942 $662,644 
Service cost86 83 1,650 1,543 
Interest cost52,103 63,171 13,379 17,853 
Actuarial loss (gain) 185,306 160,390 76,006 68,385 
Foreign currency changes— — 29,128 25,452 
Settlements and curtailments(3,854)(6,684)(15,171)(2,682)
Benefits paid(116,736)(105,046)(21,260)(26,253)
Benefit obligation - end of year$1,729,959 $1,613,054 $830,674 $746,942 
Fair value of plan assets
Fair value of plan assets - beginning of year$1,487,018 $1,327,034 $668,308 $562,517 
Actual return on plan assets225,812 261,579 78,120 98,006 
Company contributions9,546 10,135 9,674 10,085 
Settlements and curtailments(3,854)(6,684)(15,171)(1,773)
Foreign currency changes— — 22,968 25,726 
Benefits paid(116,736)(105,046)(21,260)(26,253)
Fair value of plan assets - end of year$1,601,786 $1,487,018 $742,639 $668,308 
Amounts recognized in the Consolidated Balance Sheets
Noncurrent asset$465 $383 $26,053 $20,020 
Current liability(5,843)(9,019)(1,444)(1,313)
Noncurrent liability(122,795)(117,401)(112,644)(97,341)
Funded status$(128,173)$(126,037)$(88,035)$(78,634)
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Information provided in the table below is only for pension plans with an accumulated benefit obligation in excess of plan assets:
United StatesForeign
2020201920202019
Projected benefit obligation$1,729,638 $1,612,745 $691,909 $615,288 
Accumulated benefit obligation$1,729,194 $1,612,241 $690,887 $614,293 
Fair value of plan assets$1,601,000 $1,486,325 $577,821 $516,634 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Pretax amounts recognized in AOCI consist of:
United StatesForeign
2020201920202019
Net actuarial loss$783,211 $772,850 $334,520 $315,319 
Prior service (credit) cost(209)(270)8,072 8,317 
Transition asset— — (7)(11)
Total$783,002 $772,580 $342,585 $323,625 
Other changes in plan assets and benefit obligations for defined benefit pension plans recognized in other comprehensive income were as follows:
United StatesForeign
2020201920202019
Net actuarial (gain) loss$44,216 $(8,459)$32,103 $3,643 
Amortization of net actuarial loss(32,490)(26,146)(7,842)(6,337)
Amortization of prior service credit (cost)60 60 (245)(243)
Net transition asset— — 4 6 
Settlements and curtailments(1,364)(2,381)(5,060)(397)
Total recognized in other comprehensive income $10,422 $(36,926)$18,960 $(3,328)
Other changes in benefit obligation for postretirement medical benefit plans recognized in other comprehensive income were as follows:
20202019
Net actuarial loss (gain)$11,496 $6,931 
Amortization of net actuarial loss(3,198)(2,026)
Amortization of prior service cost(373)(321)
Total recognized in other comprehensive income$7,925 $4,584 
Schedule of Costs of Retirement Plans
The components of net periodic benefit cost (income) for defined benefit pension plans were as follows:
United StatesForeign
202020192018202020192018
Service cost$86 $83 $92 $1,650 $1,543 $2,159 
Interest cost52,103 63,171 61,490 13,379 17,853 18,089 
Expected return on plan assets(84,719)(92,726)(101,087)(34,391)(34,363)(35,687)
Amortization of net transition asset— — — (4)(6)(7)
Amortization of prior service (credit) cost(60)(60)(60)245 243 (71)
Amortization of net actuarial loss32,490 26,146 31,298 7,842 6,337 7,264 
Special termination benefits— — — — — 208 
Settlements and curtailments1,364 2,381 44,665 5,060 397 (13)
Net periodic benefit cost (income)$1,264 $(1,005)$36,398 $(6,219)$(7,996)$(8,058)
The components of net periodic benefit cost for postretirement medical benefit plans were as follows:
202020192018
Service cost$885 $967 $1,405 
Interest cost4,993 6,584 6,640 
Amortization of prior service cost 373 321 304 
Amortization of net actuarial loss3,198 2,026 3,048 
Curtailment— — 246 
Net periodic benefit cost$9,449 $9,898 $11,643 
Schedule of Weighted Average Assumptions Used to Determine Net Periodic Benefit Costs
Weighted-average actuarial assumptions used to determine end of year benefit obligations and net periodic benefit cost for defined benefit pension plans include:
202020192018
United States
Used to determine benefit obligations
     Discount rate2.54%3.34%4.34%
     Rate of compensation increaseN/AN/AN/A
Used to determine net periodic benefit cost
     Discount rate3.34%4.34%3.69%
     Expected return on plan assets6.25%6.75%7.00%
     Rate of compensation increaseN/AN/AN/A
Foreign
Used to determine benefit obligations
     Discount rate0.70 %-2.40%0.65 %-2.95%0.75 %-3.55%
     Rate of compensation increase1.50 %-2.50%1.50 %-2.50%1.50 %-2.50%
Used to determine net periodic benefit cost
     Discount rate0.65 %-2.95%0.75 %-3.55%0.65 %-3.35%
     Expected return on plan assets4.25 %-6.00%4.25 %-6.25%3.75 %-6.25%
     Rate of compensation increase1.50 %-2.50%1.50 %-2.50%1.50 %-3.25%
The weighted-average discount rates used to determine end of year benefit obligation and net periodic pension cost include:
202020192018
Discount rate used to determine benefit obligation
U.S.2.35 %3.20 %4.20 %
Canada2.50 %3.00 %3.60 %
Discount rate used to determine net period benefit cost
U.S.3.20 %4.20 %3.55 %
Canada3.00 %3.60 %3.35 %
Schedule of Target Allocation and Percentage of Plan Assets for Domestic Pension Plan Target and actual asset allocations for the U.S. pension plans were as follows:
Target allocationPercent of Plan Assets at December 31,
202120202019
Asset category
Equities27 %33 %30 %
Multi-asset credit4 %— %— %
Fixed income60 %62 %63 %
Real estate8 %4 %5 %
Private equity1 %1 %2 %
Total100 %100 %100 %
Schedule of Target Allocation and Percentage of Plan Assets for Foreign Pension Plan were as follows:
Target AllocationPercent of Plan Assets at December 31,
202120202019
Asset category
Equities5 %6 %35 %
Non-U.K. equities15 %16 %— %
Fixed income60 %60 %46 %
Real estate10 %8 %9 %
Diversified growth10 %9 %9 %
Cash— %1 %1 %
Total100 %100 %100 %
Schedule of Fair Value Measurement of Plan Assets
The following tables show the U.S. and foreign pension plans' assets, by level within the fair value hierarchy. The plan asset categories presented in the following tables are subsets of the broader asset allocation categories.

United States Pension Plans
December 31, 2020
Level 1Level 2Level 3Total
Money market funds$— $14,442 $— $14,442 
Equity securities— 323,311 — 323,311 
Commingled fixed income securities— 264,896 — 264,896 
Government and related securities
322,851 22,549 — 345,400 
Corporate debt securities— 586,998 — 586,998 
Mortgage-backed /asset-backed securities— 45,861 — 45,861 
Real estate— — 69,347 69,347 
Securities lending collateral— 151,049 — 151,049 
Total plan assets at fair value $322,851 $1,409,106 $69,347 $1,801,304 
Securities lending payable(151,049)
Investments valued at NAV17,132 
Cash15,449 
Other(81,050)
Fair value of plan assets $1,601,786 

December 31, 2019
Level 1Level 2Level 3Total
Money market funds$— $4,917 $— $4,917 
Equity securities— 265,832 — 265,832 
Commingled fixed income securities— 275,335 — 275,335 
Government and related securities
292,506 15,764 — 308,270 
Corporate debt securities— 528,425 — 528,425 
Mortgage-backed /asset-backed securities— 51,770 — 51,770 
Real estate— — 71,337 71,337 
Securities lending collateral— 106,886 — 106,886 
Total plan assets at fair value $292,506 $1,248,929 $71,337 $1,612,772 
Securities lending payable(106,886)
Investments valued at NAV23,608 
Cash9,409 
Other(51,885)
Fair value of plan assets $1,487,018 
Foreign Plans
December 31, 2020
Level 1Level 2Level 3Total
Money market funds$— $10,072 $— $10,072 
Equity securities— 166,683 — 166,683 
Commingled fixed income securities— 379,656 — 379,656 
Government and related securities
— 46,268 — 46,268 
Corporate debt securities— 37,002 — 37,002 
Real estate— — 45,275 45,275 
Diversified growth funds— — 50,750 50,750 
Total plan assets at fair value $— $639,681 $96,025 $735,706 
Cash6,448 
Other485 
Fair value of plan assets $742,639 

December 31, 2019
Level 1Level 2Level 3Total
Money market funds$— $8,734 $— $8,734 
Equity securities— 222,554 — 222,554 
Commingled fixed income securities— 264,131 — 264,131 
Government and related securities
— 43,405 — 43,405 
Corporate debt securities— 34,528 — 34,528 
Real estate— — 45,335 45,335 
Diversified growth funds— — 47,621 47,621 
Total plan assets at fair value $— $573,352 $92,956 $666,308 
Cash 1,516 
Other484 
Fair value of plan assets$668,308 
Schedule of Changes in Fair Value of Level 3 Assets Domestic
The following table summarizes the changes in the fair value of Level 3 assets:
U.S. PlansForeign Plans
Real estateReal estateDiversified Growth Funds
Balance at December 31, 2018$96,877 $42,143 $40,766 
Realized gains14,876 — — 
Unrealized losses(12,517)(799)4,954 
Net purchases, sales and settlements(27,899)1,618 107 
Foreign currency and other— 2,373 1,794 
Balance at December 31, 201971,337 45,335 47,621 
Realized gains1,554 — — 
Unrealized (losses) gains(3,360)(2,134)1,493 
Net purchases, sales and settlements(184)1,221 56 
Foreign currency and other— 853 1,580 
Balance at December 31, 2020$69,347 $45,275 $50,750 
Schedule of Change in Benefit Obligation, Plan Assets and the Funded Status of Nonpension Benefit Plans The benefit obligation and funded status for postretirement medical benefit plans are as follows:
20202019
Benefit obligation
Benefit obligation - beginning of year$164,104 $166,476 
Service cost885 967 
Interest cost4,993 6,584 
Actuarial loss11,496 6,930 
Foreign currency changes340 674 
Benefits paid, net(12,608)(17,527)
Benefit obligation - end of year (1)
$169,210 $164,104 
Fair value of plan assets
Fair value of plan assets - beginning of year$— $— 
Company contribution12,608 17,527 
Benefits paid, net(12,608)(17,527)
Fair value of plan assets - end of year$— $— 
Amounts recognized in the Consolidated Balance Sheets
Current liability$(15,372)$(16,132)
Non-current liability(153,838)(147,972)
Funded status$(169,210)$(164,104)
(1)    The benefit obligation for U.S. postretirement medical benefits plan was $153 million and $150 million at December 31, 2020 and 2019, respectively.

Pretax amounts recognized in AOCI consist of:
20202019
Net actuarial loss$41,570 $33,272 
Prior service cost129 502 
Total$41,699 $33,774 
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, are expected to be paid.
Pension BenefitsPostretirement Medical Benefits
2021$133,588 $15,332 
2022131,658 14,730 
2023130,138 14,077 
2024125,913 12,995 
2025126,921 11,948 
Thereafter611,769 50,774 
$1,259,987 $119,856