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Retirement Plans and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2021

Defined Benefit Plan Disclosure [Line Items]

Net Projected Benefit Obligation and Fair Value of Plan Assets for Funded and Unfunded Defined Benefit Plans

The following tables set forth the changes in net projected benefit obligation and the fair value of plan assets for the funded and unfunded defined benefit plans for the years ended December 31:

U.S. Defined Benefit Pension Plans:

			2021						2020
			(In thousands)
Change in projected benefit obligation:
Net projected benefit obligation at the beginning of the year			$	532,357					$	510,514
Service cost			2,767						3,015
Interest cost			14,074						17,235
Actuarial (gains) losses			(12,593)						32,963
Gross benefits paid			(31,832)						(31,370)
Net projected benefit obligation at the end of the year			$	504,773					$	532,357
Change in plan assets:
Fair value of plan assets at the beginning of the year			$	662,298					$	621,632
Actual return on plan assets			70,540						71,281
Employer contributions			621						755
Gross benefits paid			(31,832)						(31,370)
Fair value of plan assets at the end of the year			$	701,627					$	662,298

Foreign Defined Benefit Pension Plans:

			2021						2020
			(In thousands)
Change in projected benefit obligation:
Net projected benefit obligation at the beginning of the year			$	351,584					$	311,783
Service cost			4,218						4,246
Interest cost			4,458						5,376
Foreign currency translation adjustments			(6,580)						13,955
Employee contributions			76						92
Actuarial (gains) losses			(10,199)						27,055
Expenses paid from assets			(1,121)						(838)
Gross benefits paid			(10,426)						(10,615)
Curtailments			412						—
Plan amendments			—						530
Net projected benefit obligation at the end of the year			$	332,422					$	351,584
Change in plan assets:
Fair value of plan assets at the beginning of the year			$	250,735					$	224,347
Actual return on plan assets			20,184						20,966
Employer contributions			9,656						8,772
Employee contributions			76						92
Foreign currency translation adjustments			(2,816)						8,011
Expenses paid from assets			(1,121)						(838)
Gross benefits paid			(10,426)						(10,615)
Fair value of plan assets at the end of the year			$	266,288					$	250,735

Accumulated Benefit Obligation ("ABO")

The accumulated benefit obligation consisted of the following at December 31:

U.S. Defined Benefit Pension Plans:

			2021						2020
			(In thousands)
Funded plans			$	492,957					$	515,667
Unfunded plans			3,913						4,494
Total			$	496,870					$	520,161

Foreign Defined Benefit Pension Plans:

			2021						2020
			(In thousands)
Funded plans			$	284,013					$	295,998
Unfunded plans			47,761						53,090
Total			$	331,774					$	349,088

Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets

The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with a projected benefit obligation in excess of plan assets and pension plans with an accumulated benefit obligation in excess of plan assets were as follows at December 31:

U.S. Defined Benefit Pension Plans:

			Projected Benefit Obligation Exceeds Fair Value of Assets												Accumulated Benefit Obligation Exceeds Fair Value of Assets
			2021						2020						2021						2020
			(In thousands)
Benefit obligation			$	6,234					$	6,842					$	6,234					$	6,842
Fair value of plan assets			1,239						1,155						1,239						1,155

Foreign Defined Benefit Pension Plans:

			Projected Benefit Obligation Exceeds Fair Value of Assets												Accumulated Benefit Obligation Exceeds Fair Value of Assets
			2021						2020						2021						2020
			(In thousands)
Benefit obligation			$	272,245					$	349,762					$	271,596					$	347,267
Fair value of plan assets			200,862						248,914						200,862						248,914

Funded Status of Plan and Amounts Recognized in Balance Sheet

The following table provides the amounts recognized in the consolidated balance sheet at December 31:

			2021						2020
			(In thousands)
Funded status asset (liability):
Fair value of plan assets			$	967,915					$	913,034
Projected benefit obligation			(837,195)						(883,940)
Funded status at the end of the year			$	130,720					$	29,094
Amounts recognized in the consolidated balance sheet consisted of:
Non-current asset for pension benefits (other assets)			$	207,099					$	135,628
Current liabilities for pension benefits			(2,133)						(2,174)
Non-current liability for pension benefits			(74,246)						(104,360)
Net amount recognized at the end of the year			$	130,720					$	29,094

Amounts Recognized in Accumulated Other Comprehensive Income, Net of Taxes

The following table provides the amounts recognized in accumulated other comprehensive income, net of taxes, at December 31:

Net amounts recognized:			2021						2020
			(In thousands)
Net actuarial loss			$	193,220					$	249,468
Prior service costs			1,855						4,247
Transition asset			4						5
Total recognized			$	195,079					$	253,720

Components of Net Periodic Pension Benefit Expense (Income)

The following table provides the components of net periodic pension benefit expense (income) for the years ended December 31:

			2021						2020						2019
			(In thousands)
Defined benefit plans:
Service cost			$	6,985					$	7,261					$	6,556
Interest cost			18,532						22,611						26,979
Expected return on plan assets			(56,752)						(54,629)						(52,402)
Curtailment			3,151						—						—
Settlement			—						—						739
Amortization of:
Net actuarial loss			16,353						15,479						15,685
Prior service costs			456						486						484
Transition asset			1						1						1
Total net periodic benefit income			(11,274)						(8,791)						(1,958)
Other plans:
Defined contribution plans			31,149						30,829						32,508
Foreign plans and other			8,454						7,902						9,406
Total other plans			39,603						38,731						41,914
Total net pension expense			$	28,329					$	29,940					$	39,956

U.S. Defined Benefit Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted average assumptions used to determine benefit obligations at December 31:

			2021						2020
U.S. Defined Benefit Pension Plans:
Discount rate			3.02		%				2.69		%
Rate of compensation increase (where applicable)			3.75		%				3.75		%
Foreign Defined Benefit Pension Plans:
Discount rate			1.78		%				1.27		%
Rate of compensation increase (where applicable)			2.50		%				2.50		%

Fair Value of Plan Assets

The following is a summary of the fair value of plan assets for U.S. plans at December 31:

			2021																		2020
Asset Class			Total						Level 1						Level 2						Total						Level 1						Level 2
			(In thousands)
Corporate debt instruments			$	4,053					$	—					$	4,053					$	3,442					$	—					$	3,442
Corporate debt instruments – Preferred			11,265						—						11,265						12,196						—						12,196
Corporate stocks – Common			67,975						67,975						—						62,897						62,897						—
Municipal bonds			676						—						676						876						—						876
Registered investment companies			150,535						150,535						—						236,530						236,530						—
U.S. Government securities			663						—						663						526						—						526
Total investments			235,167						218,510						16,657						316,467						299,427						17,040
Investments measured at net asset value			466,460						—						—						345,831						—						—
Total investments			$	701,627					$	218,510					$	16,657					$	662,298					$	299,427					$	17,040

Foreign Defined Benefit Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Plan Assets

The following is a summary of the fair value of plan assets for foreign defined benefit pension plans at December 31:

			2021												2020
Asset Class			Total						Level 3						Total						Level 3
			(In thousands)
Life insurance			$	18,806					$	18,806					$	20,908					$	20,908
Total investments			18,806						18,806						20,908						20,908
Investments measured at net asset value			247,482						—						229,827						—
Total investments			$	266,288					$	18,806					$	250,735					$	20,908

Summary of Changes in Fair Value of U.S. Plans' Investments Using Significant Unobservable Inputs

The following is a summary of the changes in the fair value of the foreign plans’ level 3 investments (fair value determined using significant unobservable inputs):

			Life Insurance
			(In thousands)
Balance, December 31, 2019			$	19,298
Actual return on assets:
Unrealized losses relating to instruments still held at the end of the year			$	1,610
Realized gains (losses) relating to assets sold during the year			$	—
Purchases, sales, issuances and settlements, net			$	—
Balance, December 31, 2020			$	20,908
Actual return on assets:
Unrealized gains (losses) relating to instruments still held at the end of the year			$	(2,102)
Realized gains (losses) relating to assets sold during the year			$	—
Purchases, sales, issuances and settlements, net			$	—
Balance, December 31, 2021			$	18,806

Net Periodic Pension Benefit Expense

Defined Benefit Plan Disclosure [Line Items]

Weighted Average Assumptions Used to Determine Benefit Obligations

The following weighted average assumptions were used to determine the above net periodic pension benefit income for the years ended December 31:

			2021						2020						2019
U.S. Defined Benefit Pension Plans:
Discount rate			2.69		%				3.45		%				4.40		%
Expected return on plan assets			6.75		%				7.00		%				7.50		%
Rate of compensation increase (where applicable)			3.75		%				3.75		%				3.75		%
Foreign Defined Benefit Pension Plans:
Discount rate			1.27		%				1.83		%				2.59		%
Expected return on plan assets			5.47		%				5.97		%				6.52		%
Rate of compensation increase (where applicable)			2.50		%				2.50		%				2.50		%

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