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Pension Plans and Other Postretirement Benefits Reconciliation of Benefit Obligations, Plan Assets and Funded Status of Plans, as well as Summary of Significant Assumptions for Benefit Plans (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
U.S. Pension Plans      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation, beginning balance $ 729,652 $ 629,337  
Service cost 1,233 7,029 $ 12,177
Interest cost 31,231 30,491 28,406
Plan amendments 0 0  
Actuarial (gain) loss (55,851) 130,887  
Benefits paid (38,300) (37,866)  
Acquisitions 39,125 0  
Divestitures [1] 0 (30,226)  
Reclass to liabilities held for sale 0 0  
Employee contributions 0 0  
Foreign exchange gain 0 0  
Settlements/curtailments 0 0  
Other 0 0  
Benefit obligation, ending balance 707,090 729,652 629,337
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets, beginning balance 598,250 605,604  
Actual return on plan assets (16,789) 53,696  
Employer contributions 1,606 7,042  
Benefits paid (38,300) (37,866)  
Acquisitions 29,314 0  
Divestitures [1] 0 (30,226)  
Employee contributions 0 0  
Foreign exchange loss 0 0  
Settlements/curtailments 0 0  
Other 0 0  
Fair value of plan assets, Ending Balance 574,081 598,250 605,604
Funded status (133,009) (131,402)  
Current liabilities (accrued expenses) (1,110) (3,219)  
Noncurrent liabilities (pension benefits) (131,899) (128,183)  
Net pension liability (133,009) (131,402)  
Prior service benefit (211) (286)  
Net amount recognized $ (211) $ (286)  
Weighted-average assumptions used to determine benefit obligations at December 31:      
Discount Rate 4.67% 4.19%  
Rate of compensation increase 0.00% 0.00%  
Foreign Pension Plans      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation, beginning balance $ 53,112 $ 49,245  
Service cost 6,034 1,746 1,785
Interest cost 9,875 1,571 1,477
Plan amendments 870 0  
Actuarial (gain) loss (42,977) 10,341  
Benefits paid (16,118) (3,913)  
Acquisitions 416,150 0  
Divestitures [1] 0 0  
Reclass to liabilities held for sale (26,608) 0  
Employee contributions 478 283  
Foreign exchange gain (26,708) (6,161)  
Settlements/curtailments (582) 0  
Other 331 0  
Benefit obligation, ending balance 373,857 53,112 49,245
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets, beginning balance 9,444 10,941  
Actual return on plan assets 140 499  
Employer contributions 16,392 2,940  
Benefits paid (16,118) (3,913)  
Acquisitions 109,875 0  
Divestitures [1] 0 0  
Employee contributions 478 283  
Foreign exchange loss (3,237) (1,306)  
Settlements/curtailments (582) 0  
Other 314 0  
Fair value of plan assets, Ending Balance 116,706 9,444 10,941
Funded status (257,151) (43,668)  
Current liabilities (accrued expenses) (7,498) (1,316)  
Noncurrent liabilities (pension benefits) (249,653) (42,352)  
Net pension liability (257,151) (43,668)  
Prior service benefit (1,052) (321)  
Net amount recognized $ (1,052) $ (321)  
Weighted-average assumptions used to determine benefit obligations at December 31:      
Discount Rate 2.89% 1.85%  
Rate of compensation increase 3.17% 3.40%  
Other Postretirement Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation, beginning balance $ 64,500 $ 62,832  
Service cost 137 216 309
Interest cost 2,573 3,040 2,764
Actuarial (gain) loss (5,682) 3,741  
Benefits paid (5,042) (5,329)  
Acquisitions 2,607 0  
Settlements/curtailments [2] (2,594) 0  
Benefit obligation, ending balance 56,499 64,500 62,832
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets, beginning balance 4,439 [3] 5,620  
Actual return on plan assets 280 214  
Employer contributions 3,615 3,934  
Benefits paid (5,042) (5,329)  
Fair value of plan assets, Ending Balance 3,292 [4] 4,439 [3] $ 5,620
Funded status (53,207) (60,061)  
Current liabilities (accrued expenses) (3,560) (3,637)  
Noncurrent liabilities (pension benefits) (49,647) (56,424)  
Net pension liability (53,207) (60,061)  
Prior service benefit 239 334  
Net amount recognized $ 239 $ 334  
Weighted-average assumptions used to determine benefit obligations at December 31:      
Discount Rate 4.59% 4.15%  
Rate of compensation increase 3.50% 3.50%  
[1] Reduction in benefit obligations and plan assets in 2014 is in connection with the sale of our antioxidant, ibuprofen and propofol businesses and assets which closed on September 1, 2014. See Note 3 “Divestitures” for additional information about this transaction.
[2] We assumed responsibility for one domestic OPEB plan in connection with the acquisition of Rockwood which covered a small number of active employees and retirees. This plan was terminated in the first quarter of 2015 and provisions were made for the affected employees and retirees to receive benefits under an existing plan.
[3] As a result of our global operating and financing activities, we are exposed to market risks from changes in foreign currency exchange rates, which may adversely affect our operating results and financial position. When deemed appropriate, we minimize our risks from foreign currency exchange rate fluctuations through the use of foreign currency forward contracts. Unless otherwise noted, these derivative financial instruments are not designated as hedging instruments under ASC 815, Derivatives and Hedging. The foreign currency forward contracts are valued using broker quotations or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are classified within Level 2.
[4] See Note 15 “Pension Plans and Other Postretirement Benefits” for further information about fair value measurements of our pension and postretirement plan assets, including the reconciliations of the plans’ Level 3 assets.