RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2015

General Discussion of Pension and Other Postretirement Benefits [Abstract]



	December 31,
	2015			2014
Change in benefit obligations
Benefit obligations at beginning of year	$	1,045,471		$	941,442
Service cost	19,933			19,062
Interest cost	36,002			42,485
Plan participants' contributions	185			215
Plan amendments	—			45
Acquisitions	6,170			—
Actuarial (gain) loss	(42,640		)	117,881
Benefits paid	(32,217		)	(60,582		)
Settlements/curtailments	(463,943		)	(7,172		)
Currency translation	(10,792		)	(7,905		)
Benefit obligations at end of year	558,169			1,045,471

Change in plan assets
Fair value of plan assets at beginning of year	1,010,937			939,995
Actual return on plan assets	9,298			108,060
Employer contributions	50,468			27,550
Plan participants' contributions	185			215
Acquisitions	5,995			—
Benefits paid	(30,358		)	(59,196		)
Settlement	(462,601		)	—
Currency translation	(7,823		)	(5,687		)
Fair value of plan assets at end of year	576,101			1,010,937

Funded status at end of year	17,932			(34,534		)
Unrecognized actuarial net loss	156,019			316,296
Unrecognized prior service cost	(1,304		)	(1,930		)
Unrecognized transition assets, net	41			45
Net amount recognized	$	172,688		$	279,877

Amounts Recognized in Consolidated Balance Sheets



	December 31,
	2015			2014
Prepaid pensions	$	38,201		$	1,240
Accrued pension liability, current	(5,026		)	(2,971		)
Accrued pension liability, long-term	(15,243		)	(32,803		)
Accumulated other comprehensive loss, excluding tax effects	154,756			314,411
Net amount recognized in the balance sheets	$	172,688		$	279,877

Components of Pension Cost for Defined Benefit Plans



	Year Ended December 31,
	2015			2014			2013
Service cost	$	19,933		$	19,062		$	23,188
Interest cost	36,002			42,485			37,225
Expected return on plan assets	(54,638		)	(67,953		)	(61,244		)
Amortization of prior service cost	(626		)	(616		)	(613		)
Amortization of net loss	19,406			17,644			30,929
Settlement/curtailment loss	142,738			1,773			423
Pension cost for defined benefit plans	$	162,815		$	12,395		$	29,908

Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets



	December 31,
	2015		2014
U.S. pension plans
Projected benefit obligation	$	16,822	$	34,066
Accumulated benefit obligation	15,223		30,202
Fair value of plan assets	—		11,638
Non-U.S. pension plans
Projected benefit obligation	$	3,393	$	5,573
Accumulated benefit obligation	2,831		3,372

Benefits expected to be paid for the U.S. Plans

Benefit Payments for Plans

Benefits expected to be paid for the U.S. plans are as follows:



Estimated Payments
2016	$	31,461
2017	31,195
2018	25,629
2019	30,671
2020	27,385
2021 through 2025	164,307

Weighted average assumptions used to measure the net periodic benefit cost for the Company's significant defined benefit plans

Assumptions

Weighted average assumptions used to measure the benefit obligation for the Company's significant defined benefit plans as of December 31, 2015 and 2014 were as follows:



	December 31,
	2015		2014
Discount Rate	4.5	%	4.1	%
Rate of increase in compensation	2.7	%	2.8	%

Weighted average assumptions used to measure the net periodic benefit cost for the Company's significant defined benefit plans for each of the three years ended December 31, 2015 were as follows:



	December 31,
	2015		2014		2013
Discount rate	4.0	%	4.7	%	3.8	%
Rate of increase in compensation	2.7	%	4.1	%	4.1	%
Expected return on plan assets	6.3	%	7.3	%	7.4	%

Pension plans' assets by level within the fair value hierarchy

The following table sets forth, by level within the fair value hierarchy, the pension plans' assets as of December 31, 2015:



	Pension Plans' Assets at Fair Value as of December 31, 2015
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and cash equivalents	$	5,740	$	—	$	—	$	5,740
Equity securities (1)	3,569		—		—		3,569
Fixed income securities (2)
U.S. government bonds	11,603		—		—		11,603
Corporate debt and other obligations	—		120,470		—		120,470
Common trusts and 103-12 investments (3)
Cash and cash equivalents	—		5,841		—		5,841
Common trusts and 103-12 investments	—		388,477		—		388,477
Private equity funds (4)	—		—		40,401		40,401
Total assets at fair value	$	20,912	$	514,788	$	40,401	$	576,101

The following table sets forth, by level within the fair value hierarchy, the pension plans' assets as of December 31, 2014:



	Pension Plans' Assets at Fair Value as of December 31, 2014
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and cash equivalents	$	4,873	$	—	$	—	$	4,873
Fixed income securities (2)
U.S. government bonds	27,305		—		—		27,305
Corporate debt and other obligations	—		212,326		—		212,326
Common trusts and 103-12 investments (3)
Cash and cash equivalents	—		7,499		—		7,499
Common trusts and 103-12 investments	—		720,919		—		720,919
Private equity funds (4)	—		—		38,015		38,015
Total assets at fair value	$	32,178	$	940,744	$	38,015	$	1,010,937

_______________________________________________________________________________


(1)	Equity securities are primarily comprised of corporate stock and mutual funds directly held by the plans. Equity securities are valued using the closing price reported on the active market on which the individual securities are traded.


(2)	Fixed income securities are primarily comprised of governmental and corporate bonds directly held by the plans. Governmental and corporate bonds are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded.

(3)

Common trusts and 103-12 investments (collectively "Trusts") are comprised of a number of investment funds that invest in a diverse portfolio of assets including equity securities, corporate and governmental bonds, equity and credit indexes, and money markets. Trusts are valued at the net asset value ("NAV") as determined by their custodian. NAV represents the accumulation of the unadjusted quoted close prices on the reporting date for the underlying investments divided by the total shares outstanding at the reporting dates.

(4)

Private equity funds consist of four funds seeking capital appreciation by investing in private equity investment partnerships and venture capital companies. Funds are comprised of unrestricted and restricted publicly traded securities and privately held securities. Unrestricted securities are valued at the closing market price on the reporting date. Restricted securities may be valued at a discount from such closing public market price, depending on facts and circumstances. Privately held securities are valued at fair value as determined by the fund directors and general partners.

Summary of changes in the fair value of the Level 3 pension plans' assets

The table below sets forth a summary of changes in the fair value of the Level 3 pension plans' assets for the year ended December 31, 2015:



	Private Equity Funds
Balance at the beginning of year	$	38,015
Purchases, sales, issuances and settlements	(2,253		)
Realized and unrealized gains	4,639
Balance at the end of year	$	40,401
The amount of total gains during the period attributable to the change in unrealized gains relating to Level 3 net assets still held at the reporting date	$	1,111