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Retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]  
Reconciliation of Changes in Benefit Obligations and Fair Value of Plan Assets
 
Pension Benefits
 
Other Benefits
 
2014
 
2013
 
2014
 
2013
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
 
 
 
 
(In thousands)
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1
$
92,839

 
$
60,471

 
$
111,188

 
$
56,555

 
$
21,354

 
$
25,587

Service cost
1,162

 
1,331

 
1,526

 
1,388

 
714

 
968

Interest cost
4,037

 
2,345

 
3,766

 
2,146

 
932

 
906

Plan amendments

 
(150
)
 

 

 

 

Benefits paid
(6,230
)
 
(2,955
)
 
(2,479
)
 
(1,957
)
 
(691
)
 
(801
)
Actuarial loss (gain)
10,540

 
15,092

 
(11,885
)
 
581

 
728

 
(5,139
)
Currency translation

 
(6,646
)
 

 
1,758

 
(182
)
 
(167
)
Curtailments/settlements
(36
)
 

 
(9,277
)
 

 

 

Acquisition

 

 

 

 

 

Obligation at December 31
$
102,312

 
$
69,488

 
$
92,839

 
$
60,471

 
$
22,855

 
$
21,354

CHANGE IN PLAN ASSETS
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at January 1
$
81,957

 
$
22,334

 
$
74,578

 
$
19,660

 
$

 
$

Actual return on plan assets
2,385

 
1,738

 
14,303

 
2,341

 

 

Employer contributions
1,611

 
2,424

 
4,832

 
1,840

 
691

 
801

Benefits paid
(6,230
)
 
(2,955
)
 
(2,479
)
 
(1,957
)
 
(691
)
 
(801
)
Currency translation

 
(1,389
)
 

 
447

 

 

Settlements
(36
)
 

 
(9,277
)
 
3

 

 

Other

 

 

 

 

 

Fair value of plan assets at December 31
$
79,687

 
$
22,152

 
$
81,957

 
$
22,334

 
$

 
$

Funded status at December 31
$
(22,625
)
 
$
(47,336
)
 
$
(10,882
)
 
$
(38,138
)
 
$
(22,855
)
 
$
(21,354
)
COMPONENTS ON THE CONSOLIDATED BALANCE SHEETS
Current liabilities
$
(522
)
 
$
(805
)
 
$
(656
)
 
$
(995
)
 
$
(905
)
 
$
(946
)
Other noncurrent liabilities
(22,103
)
 
(46,531
)
 
(10,226
)
 
(37,143
)
 
(21,950
)
 
(20,408
)
Net liability at December 31
$
(22,625
)
 
$
(47,336
)
 
$
(10,882
)
 
$
(38,138
)
 
$
(22,855
)
 
$
(21,354
)
 
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, 2014 and 2013 were as follows:
 
 
U.S. Plans
 
Non-U.S.
Plans
 
2014
 
2013
 
2014
 
2013
Discount rate
3.78
%
 
4.61
%
 
2.66
%
 
4.03
%
Rate of compensation increase
4.00
%
 
4.00
%
 
3.00
%
 
3.14
%
Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
The pretax amounts recognized in Accumulated other comprehensive income (loss) as of December 31, 2014 and 2013 were as follows:
 
 
Pension Benefits
 
Other Benefits
 
2014
 
2013
 
2014
 
2013
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S
 
 
 
 
 
(In thousands)
Prior service cost (credit)
$
86

 
$
(40
)
 
$
170

 
$
312

 
$
(1,580
)
 
$
(1,951
)
Net loss
34,337

 
25,275

 
22,854

 
14,262

 
655

 
(225
)
Total
$
34,423

 
$
25,235

 
$
23,024

 
$
14,574

 
$
(925
)
 
$
(2,176
)
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, 2014, that are expected to be recognized as components of net periodic benefit cost during 2015 are as follows:
 
 
U.S. Pension
Benefit Plans
 
Non-U.S.
Pension Benefit
Plans
 
Other
Benefit Plans
 
Total
 
(In thousands)
Prior service cost (credit)
$
51

 
$
(14
)
 
$
(366
)
 
$
(329
)
Net loss
3,130

 
1,904

 
(50
)
 
4,984

Total
$
3,181

 
$
1,890

 
$
(416
)
 
$
4,655

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost of Plans
 
U.S. Plans
 
Non-U.S. Plans
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate
4.61
%
 
3.56
%
 
4.45
%
 
4.03
%
 
3.91
%
 
4.68
%
Expected return on plan assets
7.00
%
 
7.50
%
 
8.00
%
 
5.83
%
 
5.53
%
 
5.90
%
Rate of compensation increase
4.00
%
 
3.94
%
 
3.90
%
 
3.14
%
 
2.99
%
 
2.96
%
Pension Plan Weighted Average Asset Allocations
The Company’s pension plan weighted average asset allocations at December 31, 2014 and 2013, by asset category, were as follows:
 
 
2014
 
2013
Equity securities
51
%
 
66
%
Fixed income securities
49
%
 
34
%
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 the defined benefit plans’ assets at fair value at December 31, 2014 and 2013:
 
 
Basis of Fair Value Measurement
 
Outstanding
Balances
 
Level 1
 
Level 2
 
Level 3
As of December 31, 2014
(In thousands)
Equity
 
 
 
 
 
 
 
U.S. Large Cap
$
26,787

 
$
26,787

 
$

 
$

U.S. Small / Mid Cap
7,950

 
7,950

 

 

International
14,797

 
8,275

 
6,522

 

Fixed Income
 
 
 
 
 
 
 
U.S. Intermediate
14,906

 
14,906

 

 

U.S. Short Duration
8,817

 
8,817

 

 

U.S. High Yield
5,270

 
5,270

 

 

International
20,776

 
6,679

 
14,097

 

Other
 
 
 
 
 
 
 
Insurance Contracts
284

 

 
284

 

Cash and Equivalents
2,329

 
2,329

 

 

 
$
101,916

 
$
81,013

 
$
20,903

 
$

 
 
Basis of Fair Value Measurement
 
Outstanding
Balances
 
Level 1
 
Level 2
 
Level 3
As of December 31, 2013
(In thousands)
Equity
 
 
 
 
 
 
 
U.S. Large Cap
$
31,831

 
$
31,831

 
$

 
$

U.S. Small / Mid Cap
8,783

 
8,783

 

 

International
25,591

 
25,591

 

 

Fixed Income
 
 
 
 
 
 
 
U.S. Intermediate
18,715

 
18,715

 

 

U.S. Short Duration
8,954

 
8,954

 

 

U.S. High Yield
1,581

 
1,581

 

 

International
5,812

 
5,812

 

 

Other
 
 
 
 
 
 
 
Insurance Contracts
331

 

 
331

 

Cash and Equivalents
2,693

 
2,693

 

 

 
$
104,291

 
$
103,960

 
$
331

 
$


Net Periodic Benefit Cost  
Defined Benefit Plan Disclosure [Line Items]  
Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
The following table provides the pretax change recognized in Accumulated other comprehensive income (loss) in 2014:
 
 
Pension Benefits
 
U.S.
 
Non-U.S.
 
Other
Benefits
 
(In thousands)
Net loss in current year
$
(13,585
)
 
$
(14,650
)
 
$
(730
)
Prior service cost

 
150

 

Amortization of prior service cost (credit)
84

 
188

 
(371
)
Amortization of net loss
2,102

 
1,212

 
(103
)
Exchange rate effect on amounts in OCI

 
2,439

 
(47
)
Total
$
(11,399
)
 
$
(10,661
)
 
$
(1,251
)
Pension Plans  
Defined Benefit Plan Disclosure [Line Items]  
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 2014, 2013 and 2012:
 
 
Pension Benefits
 
2014
 
2013
 
2012
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
(In thousands)
Service cost
$
1,162

 
$
1,331

 
$
1,526

 
$
1,388

 
$
1,756

 
$
1,300

Interest cost
4,037

 
2,345

 
3,766

 
2,146

 
4,247

 
2,206

Expected return on plan assets
(5,430
)
 
(1,297
)
 
(5,318
)
 
(1,055
)
 
(4,687
)
 
(1,035
)
Net amortization
2,187

 
1,400

 
7,621

 
955

 
5,376

 
589

Net periodic benefit cost
$
1,956

 
$
3,779

 
$
7,595

 
$
3,434

 
$
6,692

 
$
3,060

Other Postretirement Benefit Plans  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans
 
Other Benefits
 
2014
 
2013
 
2012
 
(In thousands)
Service cost
$
714

 
$
968

 
$
763

Interest cost
932

 
906

 
922

Net amortization
(474
)
 
24

 
11

Net periodic benefit cost
$
1,172

 
$
1,898

 
$
1,696