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Pension, Health Care and Postretirement Benefits Other Than Pensions (Tables)
 12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Health care, pension and other benefits
The following table summarizes the components of the net pension costs and Cumulative other comprehensive loss related to the defined benefit pension plans:
 
Domestic
Defined Benefit Pension Plans
 
Foreign
Defined Benefit Pension Plans
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Net pension costs:
 
 
 
 
 
 
 
 
 
 
 
Service costs
$
21,342

 
$
23,176

 
$
19,061

 
$
5,261

 
$
5,039

 
$
3,654

Interest costs
26,266

 
18,444

 
17,442

 
10,422

 
7,940

 
6,927

Expected returns on plan assets
(51,293
)
 
(42,937
)
 
(44,841
)
 
(10,836
)
 
(7,487
)
 
(6,799
)
Amortization of prior service costs
1,837

 
1,823

 
1,591

 
 
 
 
 
 
Amortization of actuarial losses
 
 
13,147

 
22,205

 
1,413

 
1,716

 
1,022

Ongoing pension (credits) costs
(1,848
)
 
13,653

 
15,458

 
6,260

 
7,208

 
4,804

Settlement (credits) costs
 
 
 
 
 
 
(3,422
)
 
(220
)
 
47

Net pension (credits) costs
(1,848
)
 
13,653

 
15,458

 
2,838

 
6,988

 
4,851

Other changes in plan assets and projected benefit
obligation recognized in Cumulative other comprehensive loss (before taxes):
 
 
 
 
 
 
 
 
 
 
 
Net actuarial losses (gains) arising during the year
47,785

 
(90,669
)
 
(26,459
)
 
21,792

 
(5,487
)
 
14,131

Prior service costs during the year
2,242

 
1,756

 
2,495

 
 
 
 
 
 
Amortization of prior service costs
(1,837
)
 
(1,823
)
 
(1,591
)
 
 
 
 
 
 
Amortization of actuarial losses
 
 
(13,147
)
 
(22,205
)
 
(1,413
)
 
(1,716
)
 
(1,022
)
Exchange rate (loss) gain recognized during year
 
 
 
 
 
 
(7,988
)
 
819

 
1,464

Total recognized in Cumulative other
comprehensive loss
48,190

 
(103,883
)
 
(47,760
)
 
12,391

 
(6,384
)
 
14,573

Total recognized in net pension costs (credits)
and Cumulative other comprehensive loss
$
46,342

 
$
(90,230
)
 
$
(32,302
)
 
$
15,229

 
$
604

 
$
19,424
Fair value of the defined benefit pension plan assets
The following tables summarize the fair value of the defined benefit pension plan assets at December 31, 2014, 2013 and 2012:
 
Fair Value at
December 31,
2014
 
Quoted Prices in 
Active Markets for Identical
Assets
(Level 1)
 
Significant Other
Observable 
Inputs
(Level 2)
 
Significant
Unobservable 
Inputs
(Level 3)
Investments at fair value:
 
 
 
 
 
 
 
Short-term investments (a)
$
14,846

 
 
 
$
14,846

 
 
Equity investments (b)
739,358

 
$
404,542

 
334,816

 
 
Fixed income investments (c)
285,042

 
141,529

 
143,513

 
 
Other assets (d)
44,469

 
 
 
28,435

 
$
16,034

 
$
1,083,715

 
$
546,071

 
$
521,610

 
$
16,034

 
 
 
 
 
 
 
 
 
Fair Value at
December 31,
2013
 
Quoted Prices in
Active Markets for Identical
Assets
(Level 1)
 
Significant Other
Observable 
Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
Investments at fair value:
 
 
 
 
 
 
 
Short-term investments (a)
$
15,055

 
$
1,941

 
$
13,114

 
 
Equity investments (b)
736,873

 
419,779

 
317,094

 
 
Fixed income investments (c)
255,927

 
125,377

 
130,550

 
 
Other assets (d)
47,494

 
 
 
29,553

 
$
17,941

 
$
1,055,349

 
$
547,097

 
$
490,311

 
$
17,941

 
 
 
 
 
 
 
 
 
Fair Value at
December 31,
2012
 
Quoted Prices in
Active Markets for Identical
Assets
(Level 1)
 
Significant Other
Observable 
Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
Investments at fair value:
 
 
 
 
 
 
 
Short-term investments (a)
$
68,795

 
 
 
$
68,795

 
 
Equity investments (b)
490,993

 
$
243,553

 
247,440

 
 
Fixed income investments (c)
239,558

 
131,276

 
108,282

 


Other assets (d)
37,230

 
 
 
18,380

 
$
18,850

 
$
836,576

 
$
374,829

 
$
442,897

 
$
18,850


(a)
This category includes a full range of high quality, short-term money market securities.
(b)
This category includes actively managed equity assets that track primarily to the S&P 500.
(c)
This category includes government and corporate bonds that track primarily to the Barclays Capital Aggregate Bond Index.
(d)
This category consists of venture capital funds.
Changes in the fair value of the defined benefit pension plan assets classified as level 3
The following tables summarize the changes in the fair value of the defined benefit pension plan assets classified as level 3 at December 31, 2014, 2013 and 2012: 
 
Balance at
December 31,
2013
 
Dispositions
 
Realized and Unrealized Gains
 
Balance at
December 31,
2014
Other assets
$
17,941

 
$
(4,320
)
 
$
2,413

 
$
16,034

 
 
 
 
 
 
 
 
 
Balance at
December 31,
2012
 
Dispositions
 
Realized and Unrealized Gains
 
Balance at
December 31,
2013
Other assets
$
18,850

 
$
(4,068
)
 
$
3,159

 
$
17,941

 
 
 
 
 
 
 
 
 
Balance at
January 1, 
2012
 
Dispositions
 
Realized and Unrealized Gains
 
Balance at
December 31,
2012
Other assets
$
20,900

 
$
(3,827
)
 
$
1,777

 
$
18,850
Obligations, plan assets and assumption used for defined benefit pension plan
The following table summarizes the obligations, plan assets and assumptions used for the defined benefit pension plans, which are all measured as of December 31:
 
Domestic
Defined Benefit Pension Plans
 
Foreign
Defined Benefit Pension Plans
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Accumulated benefit obligations
at end of year
$
648,480

 
$
577,736

 
$
460,591

 
$
203,610

 
$
187,670

 
$
142,769

Projected benefit obligations:
 
 
 
 
 
 
 
 
 
 
 
Balances at beginning of year
$
582,036

 
$
466,827

 
$
410,029

 
$
222,996

 
$
168,758

 
$
141,465

Service costs
21,342

 
23,176

 
19,061

 
5,261

 
5,039

 
3,654

Interest costs
26,266

 
18,444

 
17,442

 
10,422

 
7,940

 
6,927

Actuarial losses (gains)
68,748

 
(5,488
)
 
48,346

 
32,551

 
5,939

 
17,532

Acquisitions of businesses and other
2,242

 
113,174

 
2,496

 
(10,062
)
 
39,622

 
(975
)
Effect of foreign exchange
 
 
 
 
 
 
(18,987
)
 
1,549

 
6,633

Benefits paid
(47,296
)
 
(34,097
)
 
(30,547
)
 
(7,657
)
 
(5,851
)
 
(6,478
)
Balances at end of year
653,338

 
582,036

 
466,827

 
234,524

 
222,996

 
168,758

Plan assets:
 
 
 
 
 
 
 
 
 
 
 
Balances at beginning of year
870,386

 
703,563

 
614,463

 
184,963

 
133,013

 
118,060

Actual returns on plan assets
72,256

 
128,117

 
119,647

 
20,240

 
20,316

 
10,201

Acquisitions of businesses and other
725

 
72,803

 
 
 
3,958

 
36,106

 
6,205

Effect of foreign exchange
 
 
 
 
 
 
(13,859
)
 
1,379

 
5,025

Benefits paid
(47,296
)
 
(34,097
)
 
(30,547
)
 
(7,657
)
 
(5,851
)
 
(6,478
)
Balances at end of year
896,071

 
870,386

 
703,563

 
187,645

 
184,963

 
133,013

Excess (deficient) plan assets over
projected benefit obligations
$
242,733

 
$
288,350

 
$
236,736

 
$
(46,879
)
 
$
(38,033
)
 
$
(35,745
)
Assets and liabilities recognized in the
Consolidated Balance Sheets:
 
 
 
 
 
 
 
 
 
 
 
Deferred pension assets
$
242,733

 
$
288,350

 
$
245,588

 
$
7,411

 
$
14,096

 
$
4,323

Other accruals
 
 
 
 
 
 
(810
)
 
(1,126
)
 
(869
)
Other long-term liabilities
 
 

 
(8,852
)
 
(53,480
)
 
(51,003
)
 
(39,199
)
 
$
242,733

 
$
288,350

 
$
236,736

 
$
(46,879
)
 
$
(38,033
)
 
$
(35,745
)
Amounts recognized in Cumulative other
comprehensive loss:
 
 
 
 
 
 
 
 
 
 
 
Net actuarial losses
$
(107,057
)
 
$
(59,272
)
 
$
(163,088
)
 
$
(47,574
)
 
$
(35,183
)
 
$
(41,567
)
Prior service costs
(6,448
)
 
(6,043
)
 
(6,110
)
 
 
 
 
 
 
 
$
(113,505
)
 
$
(65,315
)
 
$
(169,198
)
 
$
(47,574
)
 
$
(35,183
)
 
$
(41,567
)
Weighted-average assumptions used to
determine projected benefit obligations:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.95
%
 
4.65
%
 
3.73
%
 
3.92
%
 
4.89
%
 
4.58
%
Rate of compensation increase
4.00
%
 
4.00
%
 
4.00
%
 
3.70
%
 
4.31
%
 
4.08
%
Weighted-average assumptions used to
determine net pension costs:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.65
%
 
3.73
%
 
4.40
%
 
4.89
%
 
4.58
%
 
4.94
%
Expected long-term rate of
return on assets
6.00
%
 
6.00
%
 
7.50
%
 
5.58
%
 
5.67
%
 
6.04
%
Rate of compensation increase
4.00
%
 
4.00
%
 
4.00
%
 
4.31
%
 
4.08
%
 
4.04
%
Obligation and the assumptions used for postretirement benefits other than pensions
The following table summarizes the obligation and the assumptions used for postretirement benefits other than pensions:
 
Postretirement Benefits Other than Pensions
 
2014
 
2013
 
2012
Benefit obligation:
 
 
 
 
 
Balance at beginning of year - unfunded
$
286,651

 
$
338,134

 
$
316,795

Service cost
2,434

 
3,061

 
2,943

Interest cost
12,782

 
12,183

 
13,520

Actuarial loss (gain)
27,757

 
(50,593
)
 
18,961

Plan amendments
(19,043
)
 
(2,503
)
 
 
Benefits paid
(15,432
)
 
(13,631
)
 
(14,085
)
Balance at end of year - unfunded
$
295,149

 
$
286,651

 
$
338,134

Liabilities recognized in the Consolidated Balance Sheets:
 
 
 
 
 
Postretirement benefits other than pensions
$
(277,892
)
 
$
(268,874
)
 
$
(320,223
)
Other accruals
(17,257
)
 
(17,777
)
 
(17,911
)
 
$
(295,149
)
 
$
(286,651
)
 
$
(338,134
)
Amounts recognized in Cumulative other comprehensive loss:
 
 
 
 
 
Net actuarial losses
$
(36,044
)
 
$
(8,287
)
 
$
(62,814
)
Prior service costs
21,043

 
2,503

 
328

 
$
(15,001
)
 
$
(5,784
)
 
$
(62,486
)
Weighted-average assumptions used to determine benefit obligation:
 
 
 
 
 
Discount rate
3.90
%
 
4.60
%
 
3.70
%
Health care cost trend rate - pre-65
7.00
%
 
7.50
%
 
8.00
%
Health care cost trend rate - post-65
6.50
%
 
6.50
%
 
8.00
%
Prescription drug cost increases
6.50
%
 
7.00
%
 
8.00
%
Employer Group Waiver Plan (EGWP) trend rate
8.00
%
 
 
 
 
Weighted-average assumptions used to determine net periodic benefit cost:
 
 
 
 
 
Discount rate
4.60
%
 
3.70
%
 
4.40
%
Health care cost trend rate - pre-65
7.50
%
 
8.00
%
 
8.00
%
Health care cost trend rate - post-65
6.50
%
 
8.00
%
 
8.00
%
Prescription drug cost increases
7.00
%
 
8.00
%
 
8.00
%
Components of the net periodic benefit cost and cumulative other comprehensive loss related to postretirement benefits other than pensions
The following table summarizes the components of the net periodic benefit cost and cumulative other comprehensive loss related to postretirement benefits other than pensions:
 
Postretirement Benefits Other than Pensions
 
2014
 
2013
 
2012
Net periodic benefit cost:
 
 
 
 
 
Service cost
$
2,434

 
$
3,061

 
$
2,943

Interest cost
12,782

 
12,183

 
13,520

Amortization of actuarial losses
 
 
3,934

 
1,715

Amortization of prior service credit
(503
)
 
(328
)
 
(656
)
Net periodic benefit cost
14,713

 
18,850

 
17,522

Other changes in projected benefit obligation recognized in
Cumulative other comprehensive loss (before taxes):
 
 
 
 
 
Net actuarial loss (gain)
27,757

 
(50,593
)
 
18,961

Prior service credit arising during the year
(19,043
)
 
(2,503
)
 
 
Amortization of actuarial losses
 
 
(3,934
)
 
(1,715
)
Amortization of prior service credit
503

 
328

 
656

Total recognized in Cumulative other comprehensive loss
9,217

 
(56,702
)
 
17,902

Total recognized in net periodic benefit cost and
Cumulative other comprehensive loss
$
23,930

 
$
(37,852
)
 
$
35,424
Significant effect on amounts reported for service and interest rate component and postretirement health care benefit obligation
A one-percentage-point change in assumed health care and prescription drug cost trend rates would have had the following effects at December 31, 2014:
 
One-Percentage Point
 
Increase
 
(Decrease)
Effect on total of service and interest cost components
$
23

 
$
(66
)
Effect on the postretirement benefit obligation
$
734

 
$
(1,697
)
Retiree health care benefit cash payments
The Company expects to make retiree health care benefit cash payments and to receive government reimbursements as follows:
 
Retiree Health
Care Benefits
 
Government Reimbursement
 
Expected Cash
Payments - Net
2015
$
19,563

 
$
(2,305
)
 
$
17,258

2016
20,759

 
(2,474
)
 
18,285

2017
22,000

 
(2,667
)
 
19,333

2018
22,884

 
(2,888
)
 
19,996

2019
23,486

 
(3,107
)
 
20,379

2020 through 2024
115,694

 
(16,779
)
 
98,915

Total expected benefit cash payments
$
224,386

 
$
(30,220
)
 
$
194,166