Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Schedule of Net Funded Status

The accompanying balance sheets reflect the funded status of the Company’s defined benefit pension plans at December 31, 2019 and 2018, respectively. Reconciliations of the obligations and funded status of the plans follow:

	2019									2018
	U.S.			Non-U.S.			Total			U.S.			Non-U.S.			Total
Benefit obligation, January 1	$	388,334		$	79,307		$	467,641		$	415,369		$	82,741		$	498,110
Service cost	3,715			1,710			5,425			4,290			1,671			5,961
Interest cost	16,628			1,611			18,239			15,875			1,508			17,383
Amendments	240			(934		)	(694		)	—			826			826
Actuarial loss (gain)	46,662			11,843			58,505			(22,193		)	(2,256		)	(24,449		)
Benefits paid	(24,954		)	(4,026		)	(28,980		)	(25,007		)	(6,607		)	(31,614		)
Transfers in	—			2,165			2,165			—			3,462			3,462
Plan settlements	—			(1,582		)	(1,582		)	—			—			—
Participant contributions	—			1,131			1,131			—			1,120			1,120
Foreign exchange rate changes	—			1,975			1,975			—			(3,158		)	(3,158		)
Reclassified to liabilities held for sale (see Note 3)	—			(6,169		)	(6,169		)	—			—			—
Benefit obligation, December 31	430,625			87,031			517,656			388,334			79,307			467,641
Fair value of plan assets, January 1	322,615			73,607			396,222			375,378			79,060			454,438
Actual return on plan assets	64,681			6,992			71,673			(30,681		)	(1,928		)	(32,609		)
Company contributions	17,900			1,808			19,708			2,925			1,807			4,732
Participant contributions	—			1,131			1,131			—			1,120			1,120
Benefits paid	(24,954		)	(4,026		)	(28,980		)	(25,007		)	(6,607		)	(31,614		)
Plan settlements	—			(1,582		)	(1,582		)	—			—			—
Transfers in	—			2,165			2,165			—			3,462			3,462
Foreign exchange rate changes	—			2,170			2,170			—			(3,307		)	(3,307		)
Fair value of plan assets, December 31	380,242			82,265			462,507			322,615			73,607			396,222
Underfunded status, December 31	$	(50,383	)	$	(4,766	)	$	(55,149	)	$	(65,719	)	$	(5,700	)	$	(71,419	)

The accompanying balance sheets reflect the underfunded status of the Company’s other postretirement benefit plans at December 31, 2019 and 2018. Reconciliations of the obligations and underfunded status of the plans follow:

	2019			2018
Benefit obligation, January 1	$	33,076		$	37,570
Service cost	70			85
Interest cost	1,345			1,358
Actuarial loss (gain)	380			(3,791		)
Benefits paid	(2,917		)	(3,435		)
Participant contributions	1,246			1,280
Foreign exchange rate changes	39			9
Benefit obligation, December 31	33,239			33,076
Fair value of plan assets, January 1	—			—
Company contributions	1,671			2,155
Participant contributions	1,246			1,280
Benefits paid	(2,917		)	(3,435		)
Fair value of plan assets, December 31	—			—
Underfunded status, December 31	$	33,239		$	33,076

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

Projected benefit obligations related to pension plans with benefit obligations in excess of plan assets follow:

	2019						2018
	U.S.		Non-U.S.		Total		U.S.		Non-U.S.		Total
Projected benefit obligation	$	334,808	$	46,256	$	381,064	$	388,334	$	42,000	$	430,334
Fair value of plan assets	282,213		31,248		313,461		322,615		28,595		351,210

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Information related to pension plans with accumulated benefit obligations in excess of plan assets follows:

	2019						2018
	U.S.		Non-U.S.		Total		U.S.		Non-U.S.		Total
Projected benefit obligation	$	334,808	$	46,256	$	381,064	$	388,334	$	42,000	$	430,334
Accumulated benefit obligation	322,999		52,202		375,201		378,285		41,946		420,231
Fair value of plan assets	282,213		31,248		313,461		322,615		28,595		351,210

Schedule of Amounts Recognized in Balance Sheet

Amounts related to other postretirement benefits recognized in the accompanying balance sheets consist of:

	2019			2018
Accrued liabilities	$	5,067		$	5,414
Accrued retirement benefits	28,172			27,662
Accumulated other non-owner changes to equity, net	(3,079		)	(2,716		)

Amounts related to pensions recognized in the accompanying balance sheets consist of:

	2019									2018
	U.S.			Non-U.S.			Total			U.S.			Non-U.S.			Total
Other assets	$	2,212		$	10,242		$	12,454		$	—		$	7,705		$	7,705
Accrued liabilities	2,977			—			2,977			2,826			378			3,204
Accrued retirement benefits	49,618			15,008			64,626			62,893			13,027			75,920
Accumulated other non-owner changes to equity, net	(122,109		)	(18,859		)	(140,968		)	(121,927		)	(14,047		)	(135,974		)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The sources of changes in accumulated other non-owner changes to equity, net, during 2019 were: 

	Pension			Other Postretirement Benefits
Prior service cost	$	560		$	—
Net loss	(12,607		)	(289		)
Amortization of prior service costs	308			19
Amortization of actuarial loss	7,050			9
Foreign exchange rate changes	(305		)	(102		)
	$	(4,994	)	$	(363	)

Amounts related to other postretirement benefits recognized in accumulated other non-owner changes to equity, net of tax, at December 31, 2019 and 2018 consist of:

	2019			2018
Net actuarial loss	$	(2,981	)	$	(2,618	)
Prior service loss	(98		)	(98		)
	$	(3,079	)	$	(2,716	)

Amounts related to pensions recognized in accumulated other non-owner changes to equity, net of tax, at December 31, 2019 and 2018, respectively, consist of:

	2019									2018
	U.S.			Non-U.S.			Total			U.S.			Non-U.S.			Total
Net actuarial loss	$	(119,908	)	$	(19,190	)	$	(139,098	)	$	(119,601	)	$	(13,637	)	$	(133,238	)
Prior service costs	(2,201		)	331			(1,870		)	(2,326		)	(410		)	(2,736		)
	$	(122,109	)	$	(18,859	)	$	(140,968	)	$	(121,927	)	$	(14,047	)	$	(135,974	)

Schedule of Assumptions Used, Benefit Obligation

Weighted-average assumptions used to determine benefit obligations as of December 31, are:

	2019		2018
U.S. plans:
Discount rate	3.40	%	4.40	%
Increase in compensation	2.56	%	2.56	%
Non-U.S. plans:
Discount rate	1.26	%	2.07	%
Increase in compensation	2.72	%	2.72	%

Schedule of Allocation of Plan Assets

The fair values of the Company’s pension plan assets at December 31, 2019 and 2018, by asset category are as follows:

			Fair Value Measurements Using
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2019
Cash and short-term investments	$	3,737	$	3,737	$	—	$	—
Equity securities:
U.S. large-cap	40,538		—		40,538		—
U.S. mid-cap	17,744		17,744		—		—
U.S. small-cap	16,116		16,116		—		—
International equities	146,013		—		146,013		—
Global equity	51,037		51,037		—		—
Fixed income securities:
U.S. bond funds	124,429		—		124,429		—
International bonds	60,050		—		60,050		—
Other	2,843		—		—		2,843
	$	462,507	$	88,634	$	371,030	$	2,843
December 31, 2018
Cash and short-term investments	3,750		3,750		—		—
Equity securities:
U.S. large-cap	36,821		—		36,821		—
U.S. mid-cap	13,337		13,337		—		—
U.S. small-cap	13,244		13,244		—		—
International equities	123,084		—		123,084		—
Global equity	43,337		43,337		—		—
Fixed income securities:
U.S. bond funds	117,249		—		117,249		—
International bonds	42,920		—		42,920		—
Other	2,480		—		—		2,480
	$	396,222	$	73,668	$	320,074	$	2,480

Schedule of Expected Benefit Payments

The following are the estimated future net benefit payments, which include future service, over the next 10 years:

	Pensions		Other Postretirement Benefits
2020	$	29,543	$	3,336
2021	29,523		3,154
2022	29,558		2,918
2023	29,123		2,704
2024	29,382		2,520
Years 2025-2029	145,516		10,336
Total	$	292,645	$	24,968

Schedule of Net Benefit Costs

Pension and other postretirement benefit costs consist of the following:

	Pensions									Other Postretirement Benefits
	2019			2018			2017			2019		2018		2017
Service cost	$	5,425		$	5,961		$	6,055		$	70	$	85	$	83
Interest cost	18,239			17,383			18,819			1,345		1,358		1,561
Expected return on plan assets	(29,425		)	(29,900		)	(28,082		)	—		—		—
Amortization of prior service cost (credit)	404			560			446			25		20		(68		)
Recognized losses	8,889			11,628			10,557			13		561		276
Curtailment gain	—			—			(7,217		)	—		—		—
Settlement loss (gain)	340			—			(119		)	—		—		—
Net periodic benefit cost	$	3,872		$	5,632		$	459		$	1,453	$	2,024	$	1,852

Schedule of Assumptions Used, Net Benefit Expense

Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, are:

	2019		2018		2017
U.S. plans:
Discount rate	4.40	%	3.90	%	4.50	%
Long-term rate of return	7.75	%	7.75	%	7.75	%
Increase in compensation	2.56	%	2.56	%	2.56	%
Non-U.S. plans:
Discount rate	2.07	%	1.90	%	1.60	%
Long-term rate of return	3.90	%	4.09	%	3.59	%
Increase in compensation	2.72	%	2.17	%	2.29	%

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one percentage point change in the assumed health care cost trend rate would have the following effects:

	One Percentage Point Increase		One Percentage Point Decrease
Effect on postretirement benefit obligation	$	171	$	(160	)
Effect on postretirement benefit cost	7		(7		)

Schedule of Multiemployer Plans

Contributions related to the individually insignificant multi-employer plans, as disclosure is required pursuant to the applicable accounting standards, are as follows:

	Contributions by the Company
Pension Fund:	2019		2018		2017
Swedish Pension Plan	754		$	792	$	739
Total Contributions	$	754	$	792	$	739