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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Components of Net Periodic Benefit Cost
The components of net periodic benefit cost include the following:
 
2013
 
2012
 
2011
Retirement Plans
 
 
 
 
 
Service cost
$
25,198

 
$
23,551

 
$
20,796

Interest cost
67,235

 
69,928

 
70,869

Expected return on plan assets
(86,545
)
 
(83,758
)
 
(84,015
)
Amortization of net transition obligation
438

 
483

 
464

Amortization of prior service cost
569

 
409

 
335

Amortization of net actuarial loss
43,776

 
37,904

 
24,911

Effect of settlement loss
1,947

 
70

 
—

Other
—

 
—

 
92

Net periodic benefit cost
$
52,618

 
$
48,587

 
$
33,452

Retiree Health and Life Insurance Plans
 
 
 
 
 
Service cost
$
891

 
$
820

 
$
1,016

Interest cost
942

 
1,120

 
1,583

Expected return on plan assets
(1,510
)
 
(1,526
)
 
(1,446
)
Amortization of prior service credit
(2,969
)
 
(6,491
)
 
(7,882
)
Amortization of net actuarial loss
—

 
(2
)
 
927

Net periodic benefit income
$
(2,646
)
 
$
(6,079
)
 
$
(5,802
)
Plans' Obligations and Assets
The following tables set forth the Plans’ obligations and assets at December 31:
 
Retirement Plans
 
Retiree Health
and
Life Insurance Plans
  
2013
 
2012
 
2013
 
2012
Change in Benefit Obligation
 
 
 
 
 
 
 
Benefit obligation at January 1
$
1,734,556

 
$
1,544,730

 
$
32,581

 
$
38,097

Service cost
25,198

 
23,551

 
891

 
820

Interest cost
67,235

 
69,928

 
942

 
1,120

Plan participant contributions
528

 
609

 
1,040

 
1,229

Plan amendments
1,927

 
648

 
—

 
—

Actuarial loss/(gain)
(137,365
)
 
163,194

 
(4,349
)
 
(4,540
)
Benefits paid
(90,403
)
 
(84,150
)
 
(3,542
)
 
(4,158
)
Impact of foreign exchange rates
(836
)
 
11,854

 
(42
)
 
13

Effect of settlements
(4,382
)
 
—

 
—

 
—

Other
—

 
4,192

 
—

 
—

Benefit obligation at December 31
$
1,596,458

 
$
1,734,556

 
$
27,521

 
$
32,581
Fair Value of Plan Assets
 
Retirement Plans
 
Retiree Health and
Life Insurance Plans
  
2013
 
2012
 
2013
 
2012
Change in Plan Assets
 
 
 
 
 
 
 
Fair value of plan assets at January 1
$
1,267,386

 
$
1,129,042

 
$
21,183

 
$
20,716

Actual return on plan assets
134,229

 
152,907

 
2,795

 
2,704

Company contributions
31,591

 
65,362

 
1,126

 
777

Plan participant contributions
528

 
609

 
1,040

 
1,229

Benefits paid
(90,403
)
 
(84,150
)
 
(3,542
)
 
(4,158
)
Impact of foreign exchange rates
(952
)
 
9,453

 
—

 
—

Effect of settlements
(4,382
)
 
—

 
—

 
—

Expenses paid
(6,063
)
 
(5,837
)
 
(105
)
 
(85
)
Fair value of plan assets at December 31
$
1,331,934

 
$
1,267,386

 
$
22,497

 
$
21,183

Funded Status of the Plans
$
(264,524
)
 
$
(467,170
)
 
$
(5,024
)
 
$
(11,398
)
Recognized Amounts in Consolidated Balance Sheets
 
Retirement Plans
 
Retiree Health and
Life Insurance Plans
  
2013
 
2012
 
2013
 
2012
Total Recognized Amounts in the Consolidated Balance Sheets
 
 
 
 
 
 
 
Noncurrent assets
$
7,374

 
$
—

 
$
—

 
$
—

Current liabilities
(13,034
)
 
(16,068
)
 
(801
)
 
(1,250
)
Noncurrent liabilities
(258,864
)
 
(451,102
)
 
(4,223
)
 
(10,148
)
Net liability
$
(264,524
)
 
$
(467,170
)
 
$
(5,024
)
 
$
(11,398
)
Component of Net Periodic Pension Cost that are Included in Accumulated Other Comprehensive Loss (Income)
Items not yet recognized as a component of net periodic pension cost that are included in Accumulated Other Comprehensive Loss (Income) as of December 31, 2013 and 2012, are as follows:
 
Retirement Plans
 
Retiree Health and
Life Insurance Plans
  
2013
 
2012
 
2013
 
2012
Net actuarial loss
$
518,275

 
$
742,579

 
$
(3,178
)
 
$
2,349

Prior service cost/(credit)
3,991

 
2,658

 
(1,438
)
 
(4,407
)
Net transition obligation
470

 
975

 
—

 
—

 
$
522,736

 
$
746,212

 
$
(4,616
)
 
$
(2,058
)
Amounts Recognized in Other Comprehensive Loss/(Income)
The amounts recognized in Other Comprehensive Loss/(Income) during December 31, 2013 and 2012 include the following:
 
Retirement Plans
 
Retiree Health and
Life Insurance Plans
  
2013
 
2012
 
2013
 
2012
Adjustments arising during the period:
 
 
 
 
 
 
 
Net actuarial loss/(gain)
$
(178,648
)
 
$
100,349

 
$
(5,527
)
 
$
(5,633
)
Prior service cost/(credit)
1,902

 
649

 
—

 
—

Net settlements/curtailments
(1,947
)
 
—

 
—

 
—

Reversal of amortization:
 
 
 
 
 
 
 
Net actuarial loss
(43,776
)
 
(37,904
)
 
—

 
2

Prior service cost/(credit)
(569
)
 
(409
)
 
2,969

 
6,491

Net transition obligation
(438
)
 
(483
)
 
—

 
—

Total recognized in other comprehensive loss/(income)
$
(223,476
)
 
$
62,202

 
$
(2,558
)
 
$
860

Total recognized in net periodic benefit cost and other comprehensive loss/(income)
$
(170,858
)
 
$
110,789

 
$
(5,204
)
 
$
(5,219
)
Accumulated Other Comprehensive Loss/(Income) Expects to Recognize as Components of Net Periodic Benefit Cost
Of the amounts included in Accumulated Other Comprehensive Loss/(Income) as of December 31, 2013, the portions the Company expects to recognize as components of net periodic benefit cost in 2013 are as follows:
 
Retirement
Plans
 
Retiree Health and
Life Insurance Plans
Net actuarial loss
$
25,726

 
$
(100
)
Prior service cost/(credit)
673

 
(1,384
)
Net transition obligation
424

 
—

 
$
26,823

 
$
(1,484
)
Company's Projected Benefit Payments
The following table sets forth the Company’s projected benefit payments for the next ten years:
Year
Retirement Plans
 
Retiree Health and
Life Insurance Plans
2014
$
85,789

 
$
2,845

2015
$
86,449

 
$
3,014

2016
$
84,736

 
$
2,987

2017
$
87,218

 
$
2,885

2018
$
89,752

 
$
2,759

2019-2023
$
484,517

 
$
10,858
Major Actuarial Assumptions Used in Determining PBO, ABO and Net Periodic Cost
The following tables set forth the major actuarial assumptions used in determining the PBO, ABO and net periodic cost:
Weighted-average assumptions
used to determine benefit
obligations at December 31
U.S.
Retirement
Plans
 
U.S. Retiree
Health and
Life Insurance
Plans
 
Foreign Plans
Discount Rate
 
 
 
 
 
2013
4.78
%
 
4.03
%
 
3.25-4.97%
2012
3.90
%
 
3.16
%
 
3.50-4.40%
Rate of Compensation Increase
 
 
 
 
 
2013
3.99
%
 
3.44
%
 
2.50-4.00%
2012
4.29
%
 
3.51
%
 
2.50-3.50%
 
Weighted-average assumptions
used to determine net periodic benefit
cost for years ended December 31
U.S.
Retirement
Plans
 
U.S. Retiree
Health and
Life Insurance
Plans
 
Foreign
Plans
Discount Rate
 
 
 
 
 
2013
3.90
%
 
3.16
%
 
3.50-4.40%
2012
4.45
%
 
3.76
%
 
4.36-5.31%
2011
5.21
%
 
4.37
%
 
4.40-6.00%
Expected Long-term Rate of Return
 
 
 
 
 
2013
7.65
%
 
7.42
%
 
3.50-5.75%
2012
7.79
%
 
7.52
%
 
3.75-6.25%
2011
7.79
%
 
8.00
%
 
3.75-7.40%
Rate of Compensation Increase
 
 
 
 
 
2013
4.29
%
 
3.51
%
 
2.50-3.50%
2012
4.63
%
 
4.15
%
 
2.50-3.50%
2011
4.49
%
 
4.29
%
 
2.50-4.50%
Health Care Cost Trend Rates Related to U.S. Plan
Health liability. Therefore, the following information relates to the U.S. plan only.
Healthcare Cost Trend Rate
Pre-age 65
 
Post-age 65
2013
8.00
%
 
8.00
%
2012
8.00
%
 
8.30
%
Ultimate Trend Rate
Pre-age 65
 
Post-age 65
2013
5.60
%
 
5.60
%
2012
6.15
%
 
6.16
%
Year at which the Rate Reaches
the Ultimate Trend Rate
Pre-age 65
 
Post-age 65
2013
2045

 
2045

2012
2045

 
2045
Retirement Plans [Member]
  
Weighted-Average Asset Allocations
The following table sets forth the weighted-average asset allocations of the Company’s retirement plans at December 31, 2013 and 2012, by asset category.
Asset Category
  
 
U.S.
 
U.K.
 
Canada
Equity securities
2013
 
53.2
%
 
53.9
%
 
64.0
%
2012
 
52.1
%
 
67.3
%
 
66.0
%
Debt securities
2013
 
34.5
%
 
44.8
%
 
35.4
%
2012
 
36.0
%
 
31.9
%
 
32.7
%
Alternative
2013
 
12.0
%
 
—
%
 
—
%
2012
 
11.8
%
 
—
%
 
—
%
Cash and short-term investments
2013
 
0.3
%
 
1.3
%
 
0.6
%
2012
 
0.1
%
 
0.8
%
 
1.3
%
Total
2013
 
100.0
%
 
100.0
%
 
100.0
%
2012
 
100.0
%
 
100.0
%
 
100.0
%
Retiree Health and Life Insurance Plans [Member]
  
Weighted-Average Asset Allocations
Asset Category
December 31, 2013
 
December 31, 2012
Equity securities
59.1%
 
54.6%
Debt securities
34.0%
 
37.9%
Alternative
6.6%
 
7.1%
Cash
0.3%
 
0.4%
Total
100.0%
 
100.0%