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Retirement Plans (Tables) | 12 Months Ended
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Dec. 31, 2018
Retirement Benefits [Abstract] |
Schedule of Changes in Benefit Obligations and Assets | The change in benefit obligations and assets of the UK Plan for the years ended December 31, 2018 and 2017 consisted of the following components (in thousands):
| 2018 |  | 2017
Change in pension benefit obligation |  |  |
Benefit obligation at beginning of year | $ | 332,618 |  |  | $ | 306,731 |
Interest cost | 8,085 |  |  | 8,622 |
Actuarial (gain) loss | (27,755 | ) |  | 2,058 |
Benefits paid | (14,318 | ) |  | (13,709 | )
Foreign currency exchange rate changes | (16,854 | ) |  | 28,916 |
Benefit obligation at end of year | 281,776 |  |  | 332,618 |
Change in pension plan assets |  |  |  |  |
Fair value of plan assets at beginning of year | 295,968 |  |  | 257,236 |
Actual return on plan assets | (6,489 | ) |  | 22,899 |
Employer contributions | 4,742 |  |  | 4,727 |
Benefits paid | (14,318 | ) |  | (13,709 | )
Foreign currency exchange rate changes | (15,709 | ) |  | 24,815 |
Fair value of plan assets at end of year | 264,194 |  |  | 295,968 |
Funded status at end of year | $ | (17,582 | ) |  | $ | (36,650 | )
Schedule of Net Periodic Benefit Cost Not yet Recognized | Amounts not yet reflected in net periodic pension cost and included in accumulated other comprehensive loss were as follows (in thousands):
| 2018 |  | 2017
Unrecognized losses | $ | 86,768 |  |  | $ | 102,054 |
Schedule of Weighted Average Assumptions Used Calculating Benefit Obligation | The weighted average assumptions used to determine benefit obligations as of December 31, 2018 and 2017 were as follows:
| 2018 |  | 2017
Discount rate | 2.9 | % |  | 2.5 | %
Schedule of Weighted Average Assumptions Used Calculate Net Periodic Pension Cost | The weighted average assumptions used to determine net periodic pension cost for the years ended December 31, 2018, 2017 and 2016 were as follows:
| 2018 |  | 2017 |  | 2016
Discount rate | 2.5 | % |  | 2.7 | % |  | 3.8 | %
Annual rate of return on plan assets | 5.0 | % |  | 5.3 | % |  | 6.2 | %
Components Of Net Periodic Pension Cost | The components of net periodic pension cost of the UK Plan for the years ended December 31, 2018, 2017 and 2016 were as follows (in thousands):
| 2018 |  | 2017 |  | 2016
Interest cost | $ | 8,085 |  |  | $ | 8,622 |  |  | $ | 10,320 |
Expected return on plan assets | (13,797 | ) |  | (13,508 | ) |  | (14,227 | )
Amortization of unrecognized loss | 2,630 |  |  | 2,942 |  |  | 2,047 |
Net periodic pension cost (income) | $ | (3,082 | ) |  | $ | (1,944 | ) |  | $ | (1,860 | )
Schedule of Weighted Average Asset Allocations and Weighted Average Target Allocations | The weighted average asset allocations and weighted average target allocations at December 31, 2018 and 2017 were as follows:
Asset Category | Target Asset Allocation |  | December 31, 2018 |  | December 31, 2017
Equity securities | 15.0 | % |  | 13.4 | % |  | 14.1 | %
Debt securities | 65.0 | % |  | 71.2 | % |  | 77.3 | %
Cash | 10.0 | % |  | 6.1 | % |  | 8.6 | %
Real estate | 10.0 | % |  | 9.3 | % |  | — | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
Schedule of Plan Assets Fair Value Hierarchy | The following tables set forth by level, within the fair value hierarchy discussed in Note 11 - Fair Value Measurements, the fair value of assets of the UK Plan as of December 31, 2018 and 2017 (in thousands):
| Assets at Fair Value as of December 31, 2018
Asset Category | Level 1 |  | Level 2 |  | Level 3 |  | Total
Equity and equity like investments | $ | — |  |  | $ | 35,425 |  |  | $ | — |  |  | $ | 35,425 |
Corporate debt securities | — |  |  | 37,703 |  |  | 98,077 |  |  | 135,780 |
Government bonds | — |  |  | 52,445 |  |  | — |  |  | 52,445 |
Cash | 16,097 |  |  | — |  |  | — |  |  | 16,097 |
Real estate | — |  |  | — |  |  | 24,447 |  |  | 24,447 |
Total | $ | 16,097 |  |  | $ | 125,573 |  |  | $ | 122,524 |  |  | $ | 264,194 |
| Assets at Fair Value as of December 31, 2017
Asset Category | Level 1 |  | Level 2 |  | Level 3 |  | Total
Equity and equity like investments | $ | — |  |  | $ | 41,684 |  |  | $ | — |  |  | $ | 41,684 |
Corporate debt securities | — |  |  | 69,630 |  |  | 103,945 |  |  | 173,575 |
Government bonds | — |  |  | 55,207 |  |  | — |  |  | 55,207 |
Cash | 25,502 |  |  | — |  |  | — |  |  | 25,502 |
Total | $ | 25,502 |  |  | $ | 166,521 |  |  | $ | 103,945 |  |  | $ | 295,968 |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | The table below sets forth a summary of changes in the fair value of the UK Plan’s Level 3 assets for the year ended December 31, 2018 (in thousands):
Level 3 Assets | 2018 |  | 2017
Start of year balance | $ | 103,945 |  |  | $ | — |
Actual return on plan assets, relating to assets still held at reporting date | (71 | ) |  | 1,858 |
Actual return on plan assets, relating to assets sold during the period | 216 |  |  | — |
Purchases, sales and settlements, net | 25,523 |  |  | 98,633 |
Change due to exchange rate changes | (7,089 | ) |  | 3,454 |
End of year balance | $ | 122,524 |  |  | $ | 103,945 |
Schedule of Expected Benefit Payments | The following estimated benefit payments are expected to be paid in the following years (in thousands):
| Pension Benefits
2019 | $ | 14,007 |
2020 | $ | 14,425 |
2021 | $ | 14,857 |
2022 | $ | 15,301 |
2023 | $ | 15,757 |
Succeeding five years | $ | 86,141 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The following table shows certain information for the UK Plan where the accumulated benefit obligation is in excess of plan assets as of December 31, 2018 and 2017 (in thousands):
| 2018 |  | 2017
Projected benefit obligation | $ | 281,776 |  |  | $ | 332,618 |
Accumulated benefit obligation | $ | 281,776 |  |  | $ | 332,618 |
Fair value of plan assets | $ | 264,194 |  |  | $ | 295,968 |
Schedule of Multiemployer Plans | The following table lists all domestic MEPPs to which our contributions exceeded $2.0 million in 2018. Additionally, this table also lists all domestic MEPPs to which we contributed in 2018 in excess of $0.5 million for MEPPs in the critical status, “red zone”, and $1.0 million for MEPPs in the endangered status, “orange or yellow zones”, as defined by the PPA (in thousands):
Pension Fund |  | EIN/Pension Plan Number |  | PPA Zone Status (1) |  | FIP/RP Status |  | Contributions |  | Contributions greater than 5% of total plan contributions (2) |  | Expiration date of CBA
| 2018 |  | 2017 |  |  | 2018 |  | 2017 |  | 2016 |
National Automatic Sprinkler Industry Pension Fund |  | 52-6054620 | 001 |  | Red |  | Red |  | Implemented |  | $ | 14,888 |  |  | $ | 14,228 |  |  | $ | 11,075 |  |  | No |  | March 2019 to June 2022
Plumbers & Pipefitters National Pension Fund |  | 52-6152779 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 11,868 |  |  | 12,550 |  |  | 12,034 |  |  | No |  | January 2019 to August 2026
Sheet Metal Workers National Pension Fund |  | 52-6112463 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 10,895 |  |  | 12,895 |  |  | 11,280 |  |  | No |  | April 2019 to May 2023
National Electrical Benefit Fund |  | 53-0181657 | 001 |  | Green |  | Green |  | N/A |  | 10,700 |  |  | 11,572 |  |  | 10,328 |  |  | No |  | February 2019 to May 2022
Pension, Hospitalization & Benefit Plan of the Electrical Industry-Pension Trust Account |  | 13-6123601 | 001 |  | Green |  | Green |  | N/A |  | 10,469 |  |  | 9,489 |  |  | 9,687 |  |  | No |  | April 2019 to November 2021
Central Pension Fund of the IUOE & Participating Employers |  | 36-6052390 | 001 |  | Green |  | Green |  | N/A |  | 6,384 |  |  | 6,070 |  |  | 6,211 |  |  | No |  | January 2019 to September 2023
Plumbers Pipefitters & Mechanical Equipment Service Local Union 392 Pension Plan |  | 31-0655223 | 001 |  | Red |  | Red |  | Implemented |  | 6,047 |  |  | 6,084 |  |  | 5,202 |  |  | Yes |  | June 2019
Pipefitters Union Local 537 Pension Fund |  | 51-6030859 | 001 |  | Green |  | Green |  | N/A |  | 6,038 |  |  | 4,057 |  |  | 3,970 |  |  | No |  | September 2020 to August 2021
Southern California IBEW-NECA Pension Trust Fund |  | 95-6392774 | 001 |  | Yellow |  | Red |  | Implemented |  | 5,754 |  |  | 3,669 |  |  | 3,289 |  |  | No |  | June 2019 to May 2020
Sheet Metal Workers Pension Plan of Northern California |  | 51-6115939 | 001 |  | Red |  | Red |  | Implemented |  | 5,488 |  |  | 6,023 |  |  | 5,164 |  |  | No |  | June 2019 to June 2021
Electrical Workers Local No. 26 Pension Trust Fund |  | 52-6117919 | 001 |  | Green |  | Green |  | N/A |  | 5,485 |  |  | 4,441 |  |  | 3,390 |  |  | Yes |  | May 2019 to July 2021
Electrical Contractors Association of the City of Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Pension Plan 2 |  | 51-6030753 | 002 |  | Green |  | Green |  | N/A |  | 4,308 |  |  | 5,537 |  |  | 5,518 |  |  | No |  | June 2019
Pension Fund |  | EIN/Pension Plan Number |  | PPA Zone Status (1) |  | FIP/RP Status |  | Contributions |  | Contributions greater than 5% of total plan contributions (2) |  | Expiration date of CBA
| 2018 |  | 2017 |  |  | 2018 |  | 2017 |  | 2016 |
U.A. Local 393 Pension Trust Fund Defined Benefit |  | 94-6359772 | 002 |  | Green |  | Green |  | N/A |  | 4,298 |  |  | 1,540 |  |  | 2,490 |  |  | Yes |  | June 2019 to June 2021
Eighth District Electrical Pension Fund |  | 84-6100393 | 001 |  | Green |  | Green |  | N/A |  | 3,486 |  |  | 3,786 |  |  | 3,444 |  |  | Yes |  | February 2019 to May 2022
U.A. Plumbers Local 24 Pension Fund |  | 22-6042823 | 001 |  | Green |  | Green |  | N/A |  | 3,461 |  |  | 3,092 |  |  | 3,147 |  |  | Yes |  | April 2020
Edison Pension Plan |  | 93-6061681 | 001 |  | Green |  | Green |  | N/A |  | 3,140 |  |  | 1,628 |  |  | 1,400 |  |  | No |  | December 2020
Northern California Pipe Trades Pension Plan |  | 94-3190386 | 001 |  | Green |  | Green |  | N/A |  | 3,104 |  |  | 2,963 |  |  | 6,495 |  |  | No |  | June 2019 to June 2021
Southern California Pipe Trades Retirement Fund |  | 51-6108443 | 001 |  | Green |  | Green |  | N/A |  | 3,095 |  |  | 3,907 |  |  | 4,371 |  |  | No |  | June 2019 to August 2026
San Diego Electrical Pension Plan |  | 95-6101801 | 001 |  | Green |  | Green |  | N/A |  | 3,008 |  |  | 2,862 |  |  | 2,216 |  |  | Yes |  | May 2019 to May 2020
Plumbers & Steamfitters Local 486 Pension Fund |  | 52-6124449 | 001 |  | Green |  | Green |  | N/A |  | 2,720 |  |  | 1,830 |  |  | 1,155 |  |  | Yes |  | March 2019 to December 2019
NECA-IBEW Pension Trust Fund |  | 51-6029903 | 001 |  | Green |  | Green |  | N/A |  | 2,650 |  |  | 3,060 |  |  | 3,752 |  |  | Yes |  | March 2019 to May 2020
Arizona Pipe Trades Pension Trust Fund |  | 86-6025734 | 001 |  | Green |  | Green |  | N/A |  | 2,640 |  |  | 1,662 |  |  | 681 |  |  | No |  | June 2020
Heating, Piping & Refrigeration Pension Fund |  | 52-1058013 | 001 |  | Green |  | Green |  | N/A |  | 2,619 |  |  | 2,437 |  |  | 2,402 |  |  | No |  | July 2019
Plumbing & Pipe Fitting Local 219 Pension Fund |  | 34-6682376 | 001 |  | Red |  | Red |  | Implemented |  | 2,197 |  |  | 1,335 |  |  | 838 |  |  | Yes |  | May 2019
Connecticut Plumbers & Pipefitters Pension Fund |  | 06-6050353 | 001 |  | Green |  | Green |  | N/A |  | 2,104 |  |  | 1,988 |  |  | 1,631 |  |  | Yes |  | June 2021
Sheet Metal Workers Pension Plan of Southern California, Arizona & Nevada |  | 95-6052257 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 1,934 |  |  | 3,268 |  |  | 2,946 |  |  | No |  | June 2019 to June 2021
Boilermaker-Blacksmith National Pension Trust |  | 48-6168020 | 001 |  | Red |  | Red |  | Implemented |  | 1,446 |  |  | 1,083 |  |  | 1,710 |  |  | No |  | April 2019 to September 2021
Plumbers & Pipefitters Local 162 Pension Fund |  | 31-6125999 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 1,273 |  |  | 801 |  |  | 781 |  |  | Yes |  | May 2019
Plumbers & Pipefitters Local Union No. 502 & 633 Pension Fund |  | 61-6078145 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 1,167 |  |  | 801 |  |  | 713 |  |  | No |  | July 2019
South Florida Electrical Workers Pension Plan and Trust |  | 59-6230530 | 001 |  | Red |  | Red |  | Implemented |  | 821 |  |  | 503 |  |  | 263 |  |  | Yes |  | February 2019 to August 2021
Steamfitters Local Union No. 420 Pension Plan |  | 23-2004424 | 001 |  | Red |  | Red |  | Implemented |  | 706 |  |  | 687 |  |  | 709 |  |  | No |  | May 2020
Other Multiemployer Pension Plans |  |  |  |  |  |  |  |  |  |  | 46,036 |  |  | 43,368 |  |  | 39,005 |  |  |  |  | Various
Total Contributions |  |  |  |  |  |  |  |  |  |  | $ | 190,229 |  |  | $ | 179,216 |  |  | $ | 167,297 |  |  |  |  |
_________________
(1) | The zone status represents the most recent available information for the respective MEPP, which may be 2017 or earlier for the 2018 year and 2016 or earlier for the 2017 year.
(2) | This information was obtained from the respective plan’s Form 5500 (“Forms”) for the most current available filing. These dates may not correspond with our fiscal year contributions. The above noted percentages of contributions are based upon disclosures contained in the plans’ Forms. Those Forms, among other things, disclose the names of individual participating employers whose annual contributions account for more than 5% of the aggregate annual amount contributed by all participating employers for a plan year. Accordingly, if the annual contribution of two or more of our subsidiaries each accounted for less than 5% of such contributions, but in the aggregate accounted for in excess of 5% of such contributions, that greater percentage is not available and accordingly is not disclosed.

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