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Retirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2012
Reconciliation of Changes in Benefit Obligations and Fair Value of Plan Assets | The following table provides a reconciliation of the changes in the benefit obligations and fair value of plan assets over the two-year period ended December 31, 2012, and a statement of the funded status at December 31 for both years.
|  | Pension Benefits |  |  | Other Benefits |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
|  | U.S. |  |  | Non-U.S. |  |  | U.S. |  |  | Non-U.S. |  |  |  |  |  |  |
|  | (In thousands) |
CHANGE IN BENEFIT OBLIGATION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligation at January 1 |  | $ | 101,511 |  |  | $ | 47,763 |  |  | $ | 90,102 |  |  | $ | 42,245 |  |  | $ | 21,073 |  |  | $ | 20,068 |
Service cost |  |  | 1,756 |  |  |  | 1,300 |  |  |  | 1,759 |  |  |  | 1,078 |  |  |  | 763 |  |  |  | 691 |
Interest cost |  |  | 4,247 |  |  |  | 2,206 |  |  |  | 4,506 |  |  |  | 2,320 |  |  |  | 922 |  |  |  | 1,035 |
Plan amendments |  |  | 59 |  |  |  | 410 |  |  |  | — |  |  |  | 9 |  |  |  | 159 |  |  |  | — |
Benefits paid |  |  | (4,097 | ) |  |  | (3,536 | ) |  |  | (4,224 | ) |  |  | (1,703 | ) |  |  | (704 | ) |  |  | (734 | )
Actuarial loss |  |  | 13,202 |  |  |  | 6,700 |  |  |  | 10,159 |  |  |  | 18 |  |  |  | 3,313 |  |  |  | 60 |
Currency translation |  |  | — |  |  |  | 1,712 |  |  |  | — |  |  |  | (906 | ) |  |  | 61 |  |  |  | (47 | )
Curtailments/settlements |  |  | (5,490 | ) |  |  | — |  |  |  | (791 | ) |  |  | — |  |  |  | — |  |  |  | — |
Acquisition |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,702 |  |  |  | — |  |  |  | — |
Obligation at December 31 |  | $ | 111,188 |  |  | $ | 56,555 |  |  | $ | 101,511 |  |  | $ | 47,763 |  |  | $ | 25,587 |  |  | $ | 21,073 |
CHANGE IN PLAN ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at January 1 |  | $ | 59,619 |  |  | $ | 16,914 |  |  | $ | 58,147 |  |  | $ | 17,400 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets |  |  | 6,177 |  |  |  | 1,944 |  |  |  | (459 | ) |  |  | (720 | ) |  |  | — |  |  |  | — |
Employer contributions(1) |  |  | 17,287 |  |  |  | 3,514 |  |  |  | 6,946 |  |  |  | 1,569 |  |  |  | 704 |  |  |  | 734 |
Benefits paid |  |  | (4,097 | ) |  |  | (3,536 | ) |  |  | (4,224 | ) |  |  | (1,703 | ) |  |  | (704 | ) |  |  | (734 | )
Currency translation |  |  | — |  |  |  | 810 |  |  |  | — |  |  |  | (57 | ) |  |  | — |  |  |  | — |
Settlements |  |  | (4,408 | ) |  |  | — |  |  |  | (791 | ) |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | 14 |  |  |  | — |  |  |  | 425 |  |  |  | — |  |  |  | — |
Fair value of plan assets at December 31 |  | $ | 74,578 |  |  | $ | 19,660 |  |  | $ | 59,619 |  |  | $ | 16,914 |  |  | $ | — |  |  | $ | — |
Funded status at December 31 |  | $ | (36,610 | ) |  | $ | (36,894 | ) |  | $ | (41,892 | ) |  | $ | (30,849 | ) |  | $ | (25,587 | ) |  | $ | (21,073 | )
COMPONENTS ON THE CONSOLIDATED BALANCE SHEETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | (588 | ) |  | $ | (743 | ) |  | $ | (602 | ) |  | $ | (733 | ) |  | $ | (907 | ) |  | $ | (937 | )
Noncurrent liabilities |  |  | (36,022 | ) |  |  | (36,151 | ) |  |  | (41,290 | ) |  |  | (30,116 | ) |  |  | (24,680 | ) |  |  | (20,136 | )
Net liability at December 31 |  | $ | (36,610 | ) |  | $ | (36,894 | ) |  | $ | (41,892 | ) |  | $ | (30,849 | ) |  | $ | (25,587 | ) |  | $ | (21,073 | )
(1) | Includes $10.0 million discretionary contribution to U.S. plan in 2012.
Weighted Average Assumptions Used in Measurement of Benefit Obligation | The weighted average assumptions used in the measurement of the Company’s benefit obligation at December 31, 2012 and 2011 were as follows:
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Discount rate |  |  | 3.56 | % |  |  | 4.45 | % |  |  | 3.91 | % |  |  | 4.68 | %
Rate of compensation increase |  |  | 3.94 | % |  |  | 3.90 | % |  |  | 2.99 | % |  |  | 2.96 | %
Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss) | The pretax amounts recognized in Accumulated other comprehensive income (loss) as of December 31, 2012 and 2011 were as follows:
|  | Pension Benefits |  |  | Other Benefits |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
|  | U.S. |  |  | Non-U.S. |  |  | U.S. |  |  | Non-U.S |  |  |  |  |  |  |
|  | (In thousands) |
Prior service cost (credit) |  | $ | 275 |  |  | $ | 330 |  |  | $ | 419 |  |  | $ | 127 |  |  | $ | (2,325 | ) |  | $ | (2,697 | )
Net loss |  |  | 51,240 |  |  |  | 15,496 |  |  |  | 49,509 |  |  |  | 8,781 |  |  |  | 5,279 |  |  |  | 2,198 |
Total |  | $ | 51,515 |  |  | $ | 15,826 |  |  | $ | 49,928 |  |  | $ | 8,908 |  |  | $ | 2,954 |  |  | $ | (499 | )
Amounts in Accumulated Other Comprehensive Income (Loss) Expected to Be Recognized as Components of Net Periodic Benefit Cost During 2012 | The amounts in Accumulated other comprehensive income (loss) as of December 31, 2012, that are expected to be recognized as components of net periodic benefit cost during 2013 are as follows:
|  | U.S. Pension Benefit Plans |  |  | Non-U.S. Pension Benefit Plans |  |  | Other Benefit Plans |  |  | Total |
|  | (In thousands) |
Prior service cost (credit) |  | $ | 104 |  |  | $ | 26 |  |  | $ | (373 | ) |  | $ | (243 | )
Net loss |  |  | 6,327 |  |  |  | 935 |  |  |  | 396 |  |  |  | 7,658 |
Total |  | $ | 6,431 |  |  | $ | 961 |  |  | $ | 23 |  |  | $ | 7,415 |
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost of Plans |
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | 2012 |  |  | 2011 |  |  | 2010 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
Discount rate |  |  | 4.45 | % |  |  | 5.20 | % |  |  | 5.80 | % |  |  | 4.68 | % |  |  | 5.35 | % |  |  | 5.88 | %
Expected return on plan assets |  |  | 8.00 | % |  |  | 8.25 | % |  |  | 8.50 | % |  |  | 5.90 | % |  |  | 6.17 | % |  |  | 6.28 | %
Rate of compensation increase |  |  | 3.90 | % |  |  | 3.90 | % |  |  | 3.89 | % |  |  | 2.96 | % |  |  | 3.37 | % |  |  | 3.35 | %
Pension Plan Weighted Average Asset Allocations | The Company’s pension plan weighted average asset allocations at December 31, 2012 and 2011, by asset category, were as follows:
|  | 2012 |  |  | 2011 |
Equity securities |  |  | 68 | % |  |  | 65 | %
Fixed income securities |  |  | 32 |  |  |  | 35 |
Total |  |  | 100 | % |  |  | 100 | %
Summary of Basis Used to Measure Defined Benefit Plans' Assets at Fair Value | The following tables summarize the basis used to measure defined benefit plans’ assets at fair value at December 31, 2012 and 2011:
|  | Basis of Fair Value Measurement |
|  | Outstanding Balances |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
As of December 31, 2012 |  | (In thousands) |
Equity |  | $ | 19,779 |  |  | $ | 19,779 |  |  | $ | — |  |  | $ | — |
Absolute return funds(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 45,555 |  |  |  | 45,555 |  |  |  | — |  |  |  | — |
Non U.S. |  |  | 26,685 |  |  |  | 18,898 |  |  |  | 7,787 |  |  |  | — |
Other(2) |  |  | 2,219 |  |  |  | 2,219 |  |  |  | — |  |  |  | — |
|  | $ | 94,238 |  |  | $ | 86,451 |  |  | $ | 7,787 |  |  | $ | — |
|  | Basis of Fair Value Measurement |
|  | Outstanding Balances |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
As of December 31, 2011 |  |  | (In thousands) |
Equity |  | $ | 14,968 |  |  | $ | 14,968 |  |  | $ | — |  |  | $ | — |
Absolute return funds(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 38,449 |  |  |  | 38,449 |  |  |  | — |  |  |  | — |
Non U.S. |  |  | 21,709 |  |  |  | 16,520 |  |  |  | 5,189 |  |  |  | — |
Other(2) |  |  | 1,015 |  |  |  | 1,015 |  |  |  | — |  |  |  | — |
|  | $ | 76,141 |  |  | $ | 70,952 |  |  | $ | 5,189 |  |  | $ | — |
(1) | Primarily funds invested by managers that have a global mandate with the flexibility to allocate capital broadly across a wide range of asset classes and strategies including, but not limited to equities, fixed income, commodities, interest rate futures, currencies and other securities to outperform an agreed benchmark with specific return and volatility targets.
(2) | Primarily cash and cash equivalents.
Net Periodic Benefit Cost |
Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss) | The following table provides pretax amounts recognized in Accumulated other comprehensive income (loss) in 2012:
|  | Pension Benefits |
|  | U.S. |  |  | Non-U.S. |  |  | Other Benefits |
|  | (In thousands) |
Net loss in current year |  | $ | (10,630 | ) |  | $ | (5,778 | ) |  | $ | (3,314 | )
Prior service cost |  |  | (58 | ) |  |  | (206 | ) |  |  | (159 | )
Amortization of prior service cost (credit) |  |  | 105 |  |  |  | 9 |  |  |  | (214 | )
Amortization of net loss |  |  | 5,271 |  |  |  | 580 |  |  |  | 225 |
Exchange rate effect on amounts in OCI |  |  | — |  |  |  | (516 | ) |  |  | 8 |
Total |  | $ | (5,312 | ) |  | $ | (5,911 | ) |  | $ | (3,454 | )
Other Postretirement Benefit Plans |
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans |
|  | Other Benefits |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | (In thousands) |
Service cost |  | $ | 763 |  |  | $ | 691 |  |  | $ | 528 |
Interest cost |  |  | 922 |  |  |  | 1,035 |  |  |  | 1,008 |
Net amortization |  |  | 11 |  |  |  | (156 | ) |  |  | (370 | )
Net periodic benefit cost |  | $ | 1,696 |  |  | $ | 1,570 |  |  | $ | 1,166 |
Pension Plans |
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans | The following tables provide the components of, and the weighted average assumptions used to determine, the net periodic benefit cost for the plans in 2012, 2011 and 2010:
|  | Pension Benefits |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | U.S. |  |  | Non-U.S. |  |  | U.S. |  |  | Non-U.S. |  |  | U.S. |  |  | Non-U.S. |
|  | (In thousands) |
Service cost |  | $ | 1,756 |  |  | $ | 1,300 |  |  | $ | 1,759 |  |  | $ | 1,078 |  |  | $ | 1,665 |  |  | $ | 719 |
Interest cost |  |  | 4,247 |  |  |  | 2,206 |  |  |  | 4,506 |  |  |  | 2,320 |  |  |  | 4,525 |  |  |  | 2,148 |
Expected return on plan assets |  |  | (4,687 | ) |  |  | (1,035 | ) |  |  | (4,755 | ) |  |  | (1,117 | ) |  |  | (4,396 | ) |  |  | (945 | )
Net amortization |  |  | 5,376 |  |  |  | 589 |  |  |  | 4,855 |  |  |  | 442 |  |  |  | 4,401 |  |  |  | 302 |
Net periodic benefit cost |  | $ | 6,692 |  |  | $ | 3,060 |  |  | $ | 6,365 |  |  | $ | 2,723 |  |  | $ | 6,195 |  |  | $ | 2,224 |

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