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Pension and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Change in Benefit Obligation
The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of assets as well as a statement of the funded status and balance sheet reporting for these plans.
 Pension BenefitsOther Benefits
Years Ended December 31,2023202220232022
  (In thousands) 
Change in benefit obligation:
Benefit obligation, beginning of year$(317,424)$(471,834)$(19,944)$(27,625)
Service cost(2,632)(3,491)(11)(24)
Interest cost(15,237)(9,248)(1,012)(761)
Participant contributions(435)(350)(3)(5)
Actuarial gain (loss)(16,231)123,851 (1,179)5,690 
Acquisitions and divestitures— (9,257)— — 
Settlements2,987 6,567 — — 
Other— — — (21)
Foreign currency exchange rate changes(12,427)33,316 (491)1,409 
Benefits paid18,640 13,022 1,329 1,393 
Benefit obligation, end of year$(342,759)$(317,424)$(21,311)$(19,944)
Schedule of Change in Plan Assets
 Pension BenefitsOther Benefits
Years Ended December 31,2023202220232022
  (In thousands) 
Change in plan assets:
Fair value of plan assets, beginning of year$281,332 $394,026 $— $— 
Actual return on plan assets21,141 (84,595)— — 
Employer contributions8,432 12,080 1,326 1,388 
Plan participant contributions435 350 
Acquisitions and divestitures— 6,772 — — 
Settlements(2,987)(6,567)— — 
Foreign currency exchange rate changes11,665 (27,712)— — 
Benefits paid(18,640)(13,022)(1,329)(1,393)
Fair value of plan assets, end of year$301,378 $281,332 $— $— 
Schedule of Amounts Recognized in Balance Sheets
Funded status, end of year$(41,381)$(36,092)$(21,312)$(19,944)
Amounts recognized in the balance sheets:
Prepaid benefit cost$16,358 $16,251 $— $— 
Accrued benefit liability, current(3,051)(3,106)(1,427)(1,353)
Accrued benefit liability, noncurrent(54,688)(49,237)(19,885)(18,591)
Net funded status$(41,381)$(36,092)$(21,312)$(19,944)
Schedule of Components of Net Periodic Benefit Costs The following table provides the components of net periodic benefit costs for the plans.
 Pension BenefitsOther Benefits
Years Ended December 31,202320222021202320222021
   (In thousands)  
Components of net periodic benefit cost:
Service cost$2,632 $3,491 $3,953 $11 $24 $33 
Interest cost15,237 9,248 7,512 1,012 761 727 
Expected return on plan assets(16,512)(16,023)(16,337)— — — 
Amortization of prior service cost176 174 110 — — — 
Settlement loss (gain)(101)1,189 (18)— — — 
Other adjustments— — (191)— — — 
Net loss (gain) recognition(938)734 3,764 (737)(73)(43)
Net periodic benefit cost (income)$494 $(1,187)$(1,207)$286 $712 $717 
Schedule of Assumptions Used in Determining Benefit Obligations and Net Periodic Benefit Cost Amounts
The following table presents the assumptions used in determining the benefit obligations and the net periodic benefit cost amounts.
 Pension BenefitsOther Benefits
Years Ended December 31,Years Ended December 31,
2023202220232022
Weighted average assumptions for benefit obligations at year end:
Discount rate4.5 %4.9 %4.7 %5.2 %
Salary increase3.2 %3.2 %N/AN/A
Cash balance interest credit rate4.4 %4.5 %N/AN/A
Weighted average assumptions for net periodic cost for the year:
Discount rate4.9 %2.0 %5.2 %2.9 %
Salary increase3.2 %3.3 %N/AN/A
Cash balance interest credit rate4.5 %4.7 %N/AN/A
Expected return on assets5.2 %4.4 %N/AN/A
Assumed health care cost trend rates:
Health care cost trend rate assumed for next yearN/AN/A5.2 %5.3 %
Rate that the cost trend rate gradually declines toN/AN/A4.6 %5.0 %
Year that the rate reaches the rate it is assumed to remain atN/AN/A20282023
Schedule of Fair Values of Pension Plan Assets by Asset Category
The following table presents the fair values of the pension plan assets by asset category. 
 December 31, 2023December 31, 2022
 Fair Market Value at December 31, 2023Quoted  Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Investments Measured at Net Asset ValueFair Market Value at December 31, 2022Quoted  Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Investments Measured at Net Asset Value
 (In thousands)(In thousands)
Asset Category:
Equity securities(a)
U.S. equities fund$34,966 $— $— $34,966 $49,153 $4,384 $— $44,769 
Non-U.S. equities fund35,939 — — 35,939 51,227 5,393 — 45,834 
Debt securities(b)
Government bond fund77,480 — — 77,480 56,318 — 2,011 54,307 
Corporate bond fund62,456 — — 62,456 67,406 — 7,175 60,231 
Fixed income fund(c)22,673 — — 22,673 22,680 — — 22,680 
Liability driven investment fund(d)51,412 — — 51,412 14,629 — — 14,629 
Other investments(e)9,565 — — 9,565 10,531 — — 10,531 
Cash and equivalents6,887 2,662 — 4,225 9,388 3,242 — 6,146 
Total$301,378 $2,662 $— $298,716 $281,332 $13,019 $9,186 $259,127 
 
(a)This category includes investments in actively managed and indexed investment funds that invest in a diversified pool of equity securities of companies located in the U.S., Canada, Western Europe and other developed countries throughout the world. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. Equity securities held in separate accounts are valued based on observable quoted prices on active exchanges.
(b)This category includes investments in investment funds that invest in U.S. treasuries; other national, state and local government bonds; and corporate bonds of highly rated companies from diversified industries. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
(c)This category includes guaranteed insurance contracts and annuity policies.
(d)This category includes investments in funds that are designed to provide leveraged exposure to changes in interest rates. The fund purchases shares of funds that invest in government bonds, debt repurchase agreements, total return swaps and interest rate swaps.
(e)This category includes investments in hedge funds that pursue multiple strategies in order to provide diversification and balance risk/return objectives, real estate funds, and private equity funds.
Schedule of Benefits Expected to be Paid in Subsequent Years from Our Pension and Other Postretirement as Well as Medicare Subsidy Receipts
The following table reflects the benefits as of December 31, 2023 expected to be paid in each of the next five years and in the aggregate for the five years thereafter from our pension and other postretirement plans. Because our other postretirement plans are unfunded, the anticipated benefits with respect to these plans will come from our own assets. Because our pension plans are primarily funded plans, the anticipated benefits with respect to these plans will come primarily from the trusts established for these plans. 
Pension
Plans
Other
Plans
 (In thousands)
2024$22,915 $1,460 
202520,919 1,466 
202620,542 1,464 
202721,908 1,467 
202823,476 1,483 
2029-2033100,988 7,392 
Total$210,748 $14,732 
Summary of Accumulated Other Comprehensive Loss and Changes in these Amounts
The pre-tax amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at December 31, 2023 and the changes in these amounts during the year ended December 31, 2023 are as follows. 
Pension
Benefits
Other
Benefits
 (In thousands)
Components of accumulated other comprehensive loss:
Net actuarial loss (gain)$24,298 $(5,322)
Net prior service cost2,148 — 
$26,446 $(5,322)
Pension
Benefits
Other
Benefits
 (In thousands)
Changes in accumulated other comprehensive loss:
Net actuarial loss (gain), beginning of year$11,695 $(7,117)
Amortization of actuarial gain938 737 
Actuarial loss16,231 1,179 
Asset gain(4,629)— 
Settlement loss recognized101 — 
Currency impact(38)(121)
Net actuarial loss (gain), end of year$24,298 $(5,322)
Prior service cost, beginning of year$2,197 $— 
Amortization of prior service cost(176)— 
Currency impact127 — 
Prior service cost, end of year$2,148 $—