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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Summary Of Contributions To Defined Benefit Pension Plans |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Company contributions | $ | 6,825 |  | $ | 4,750 |  | $ | 77,743
Summary Of Accumulated Benefit Obligation |
| At December 31,
(Dollars in thousands) | 2020 |  | 2019
Qualified Plan | $ | 336,027 |  | $ | 288,328
Non-qualified Plan |  | 16,258 |  |  | 21,642
Total | $ | 352,285 |  | $ | 309,970
(Some amounts may not reconcile due to rounding.)
Projected Benefit Obligations In Excess Of Plan Assets |
| At December 31,
(Dollars in thousands) | 2020 |  | 2019
Qualified Plan |  |  |  |  |
Projected benefit obligation | $ | 388,213 |  | $ | 333,715
Fair value of plan assets |  | 354,464 |  |  | 301,467
Non-qualified Plan |  |  |  |  |
Projected benefit obligation | $ | 16,258 |  | $ | 21,642
Fair value of plan assets |  | - |  |  | -
Accumulated Benefit Obligations In Excess Of Plan Assets |
| At December 31,
(Dollars in thousands) | 2020 |  | 2019
Qualified Plan |  |  |
Accumulated benefit obligation | $ | - |  | $ | -
Fair value of plan assets |  | - |  |  | -
Non-qualified Plan |  |  |  |  |
Accumulated benefit obligation | $ | 16,258 |  | $ | 21,642
Fair value of plan assets |  | - |  |  | -
Incurred Expenses Related To Defined Contribution Plans For U.S. Employees |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Incurred expenses | $ | 14,386 |  | $ | 10,794 |  | $ | 9,301
Incurred Expenses Related To Defined Contribution Plans For Non-U.S. Employees |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Incurred expenses | $ | 3,039 |  | $ | 2,216 |  | $ | 2,057
Defined Benefit Pension Plan [Member] |
Summary Of Pension Expenses |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Pension expense | $ | 8,429 |  | $ | 10,042 |  | $ | 9,728
Summary Of Status Of Plan |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019
Change in projected benefit obligation: |  |  |  |  |
Benefit obligation at beginning of year | $ | 355,356 |  | $ | 300,244
Service cost |  | 9,522 |  |  | 8,255
Interest cost |  | 10,112 |  |  | 11,712
Actuarial (gain)/loss |  | 43,595 |  |  | 46,206
Curtailment |  | - |  |  | -
Benefits paid |  | (14,115) |  |  | (11,062)
Projected benefit obligation at end of year |  | 404,471 |  |  | 355,356
Change in plan assets: |  |  |  |  |
Fair value of plan assets at beginning of year |  | 301,467 |  |  | 260,531
Actual return on plan assets |  | 60,286 |  |  | 47,247
Actual contributions during the year |  | 6,825 |  |  | 4,750
Administrative expenses paid |  | - |  |  | -
Benefits paid |  | (14,115) |  |  | (11,062)
Fair value of plan assets at end of year |  | 354,464 |  |  | 301,467
Funded status at end of year | $ | (50,007) |  | $ | (53,889)
(Some amounts may not reconcile due to rounding.)
Amounts Recognized In The Consolidated Balance Sheets |
| At December 31,
(Dollars in thousands) | 2020 |  | 2019
Other assets (due beyond one year) | $ | - |  | $ | -
Other liabilities (due within one year) |  | (2,197) |  |  | (7,362)
Other liabilities (due beyond one year) |  | (47,810) |  |  | (46,527)
Net amount recognized in the consolidated balance sheets | $ | (50,007) |  | $ | (53,889)
(Some amounts may not reconcile due to rounding.)
Amounts Not Yet Reflected In Net Periodic Benefit Cost And Included In Accumulated Other Comprehensive Income (Loss) |
| At December 31,
(Dollars in thousands) | 2020 |  | 2019
Accumulated income (loss) | $ | (91,979) |  | $ | (97,466)
Accumulated other comprehensive income (loss) | $ | (91,979) |  | $ | (97,466)
(Some amounts may not reconcile due to rounding.)
Other Changes In Other Comprehensive Income (Loss) |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019
Other comprehensive income (loss) at December 31, prior year | $ | (97,466) |  | $ | (88,580)
Net gain (loss) arising during period |  | (4,090) |  |  | (16,927)
Recognition of amortizations in net periodic benefit cost: |  |  |  |  |
Actuarial loss |  | 9,576 |  |  | 8,042
Curtailment loss recognized |  | - |  |  | -
Other comprehensive income (loss) at December 31, current year | $ | (91,979) |  | $ | (97,466)
(Some amounts may not reconcile due to rounding.)
Net Periodic Benefit Cost For U.S. Employees |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Service cost | $ | 9,522 |  | $ | 8,255 |  | $ | 9,801
Interest cost |  | 10,112 |  |  | 11,712 |  |  | 10,290
Expected return on assets |  | (20,781) |  |  | (17,968) |  |  | (17,202)
Amortization of actuarial loss from earlier periods |  | 8,551 |  |  | 7,635 |  |  | 6,839
Settlement |  | 1,025 |  |  | 408 |  |  | -
Net periodic benefit cost | $ | 8,429 |  | $ | 10,042 |  | $ | 9,728
Other changes recognized in other comprehensive income (loss): |  |  |  |  |  |  |  |
Other comprehensive income (loss) attributable to change from prior year |  | (5,486) |  |  | 8,885 |  |  |
Total recognized in net periodic benefit cost and other |  |  |  |  |  |  |  |
comprehensive income (loss) | $ | 2,943 |  | $ | 18,927 |  |  |
(Some amounts may not reconcile due to rounding.)
Expected Benefit Payments |
(Dollars in thousands) |  |
2021 | $ | 11,757
2022 |  | 12,220
2023 |  | 13,064
2024 |  | 14,100
2025 |  | 15,190
Next 5 years |  | 90,808
Fair Value Measurement Levels For Qualified Plan Assets |
|  |  | Fair Value Measurement Using:
|  |  | Quoted Prices |  |  |  |
|  |  | in Active |  | Significant |  |
|  |  | Markets for |  | Other |  | Significant
|  |  | Identical |  | Observable |  | Unobservable
|  |  | Assets |  | Inputs |  | Inputs
(Dollars in thousands) | December 31, 2020 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  |  |  |  |  |  |  |  |  |  |
Short-term investments, which approximates fair value (a) | $ | 1,204 |  | $ | 1,204 |  | $ | - |  | $ | -
Mutual funds, fair value |  |  |  |  |  |  |  |  |  |  |
Fixed income (b) |  | 93,609 |  |  | 93,609 |  |  | - |  |  | -
Equities (c) |  | 255,054 |  |  | 255,054 |  |  | - |  |  | -
Total | $ | 349,867 |  | $ | 349,867 |  | $ | - |  | $ | -
(Some amounts may not reconcile due to rounding.)
(a) This category includes high quality, short-term money market instruments, which are issued and payable in U.S. dollars. (b) This category includes fixed income funds, which invest in investment grade securities of corporations, governments and government agencies with approximately 70% in U.S. securities and 30% in international securities. (c) This category includes funds, which invest in small, mid and multi-cap equity securities including common stocks, securities convertible into common stock and securities with common stock characteristics, such as rights and warrants, with approximately 50% in U.S. equities and 50% in international equities.
|  |  | Fair Value Measurement Using:
|  |  | Quoted Prices |  |  |  |
|  |  | in Active |  | Significant |  |
|  |  | Markets for |  | Other |  | Significant
|  |  | Identical |  | Observable |  | Unobservable
|  |  | Assets |  | Inputs |  | Inputs
(Dollars in thousands) | December 31, 2019 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  |  |  |  |  |  |  |  |  |  |
Short-term investments, which approximates fair value (a) | $ | 1,749 |  | $ | 1,749 |  | $ | - |  | $ | -
Mutual funds, fair value |  |  |  |  |  |  |  |  |  |  |
Fixed income (b) |  | 90,483 |  |  | 90,483 |  |  | - |  |  | -
Equities (c) |  | 188,884 |  |  | 188,884 |  |  | - |  |  | -
Total | $ | 281,116 |  | $ | 281,116 |  | $ | - |  | $ | -
(Some amounts may not reconcile due to rounding.)
(a) This category includes high quality, short-term money market instruments, which are issued and payable in U.S. dollars. (b) This category includes fixed income funds, which invest in investment grade securities of corporations, governments and government agencies with approximately 70% in U.S. securities and 30% in international securities. (c) This category includes funds, which invest in small, mid and multi-cap equity securities including common stocks, securities convertible into common stock and securities with common stock characteristics, such as rights and warrants, with approximately 50% in U.S. equities and 50% in international equities.
Post-Retirement Plan [Member] |
Summary Of Status Of Plan |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Post-retirement benefit expenses | $ | 1,334 |  | $ | 1,231 |  | $ | 1,829
Amounts Recognized In The Consolidated Balance Sheets |
| At December 31,
(Dollars in thousands) | 2020 |  | 2019
Other liabilities (due within one year) | $ | (613) |  | $ | (611)
Other liabilities (due beyond one year) |  | (34,484) |  |  | (28,764)
Net amount recognized in the consolidated balance sheets | $ | (35,098) |  | $ | (29,376)
(Some amounts may not reconcile due to rounding.)
Amounts Not Yet Reflected In Net Periodic Benefit Cost And Included In Accumulated Other Comprehensive Income (Loss) |
| At December 31,
(Dollars in thousands) | 2020 |  | 2019
Accumulated income (loss) | $ | (3,854) |  | $ | 188
Accumulated prior service credit (cost) |  | 2,327 |  |  | 2,904
Accumulated other comprehensive income (loss) | $ | (1,527) |  | $ | 3,092
Other Changes In Other Comprehensive Income (Loss) |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019
Other comprehensive income (loss) at December 31, prior year | $ | 3,092 |  | $ | 3,242
Net gain (loss) arising during period |  | (4,042) |  |  | 582
Prior Service credit (cost) arising during period |  | - |  |  | -
Recognition of amortizations in net periodic benefit cost: |  |  |  |  |
Actuarial loss (gain) |  | - |  |  | (155)
Prior service cost |  | (577) |  |  | (577)
Other comprehensive income (loss) at December 31, current year | $ | (1,527) |  | $ | 3,092
Net Periodic Benefit Cost For U.S. Employees |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Service cost | $ | 1,066 |  | $ | 983 |  | $ | 1,312
Interest cost |  | 845 |  |  | 980 |  |  | 999
Prior service credit recognition |  | (577) |  |  | (577) |  |  | (577)
Net gain recognition |  | - |  |  | (155) |  |  | 94
Net periodic cost | $ | 1,334 |  | $ | 1,231 |  | $ | 1,829
Other changes recognized in other comprehensive income (loss): |  |  |  |  |  |  |  |
Other comprehensive gain (loss) attributable to change from prior year |  | 4,619 |  |  | 150 |  |  |
Total recognized in net periodic benefit cost and |  |  |  |  |  |  |  |
other comprehensive income (loss) | $ | 5,953 |  | $ | 1,381 |  |  |
(Some amounts may not reconcile due to rounding.)
Expected Benefit Payments |
(Dollars in thousands) |
2021 | $ | 613
2022 |  | 715
2023 |  | 806
2024 |  | 851
2025 |  | 989
Next 5 years |  | 6,955
Post-Retirement Benefit Expenses |
| At December 31,
(Dollars in thousands) | 2020 |  | 2019
Change in projected benefit obligation: |  |  |  |  |
Benefit obligation at beginning of year | $ | 29,376 |  | $ | 28,483
Service cost |  | 1,066 |  |  | 983
Interest cost |  | 845 |  |  | 980
Amendments |  | - |  |  | -
Actuarial (gain)/loss |  | 4,042 |  |  | (582)
Benefits paid |  | (232) |  |  | (488)
Benefit obligation at end of year |  | 35,098 |  |  | 29,376
Change in plan assets: |  |  |  |  |
Fair value of plan assets at beginning of year |  | - |  |  | -
Employer contributions |  | 232 |  |  | 488
Benefits paid |  | (232) |  |  | (488)
Fair value of plan assets at end of year |  | - |  |  | -
Funded status at end of year | $ | (35,098) |  | $ | (29,376)

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