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Pension Plans and Other Postretirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2013
Financial Assets Accounted for at Fair Value on Recurring Basis | The following table sets forth the assets of our pension and postretirement plans that were accounted for at fair value on a recurring basis as of December 31, 2012 (in thousands):
| December 31, 2012 |  | Quoted Prices in Active Markets for Identical Items (Level 1) |  | Quoted Prices in Active Markets for Similar Items (Level 2) |  | Unobservable Inputs (Level 3)
Pension Assets: |  |  |  |  |  |  |
Domestic Equity(a) | $ | 218,145 |  |  | $ | 153,465 |  |  | $ | 64,680 |  |  | $ | — |
International Equity(b) | 107,647 |  |  | 18,977 |  |  | 88,670 |  |  | — |
Fixed Income(c) | 142,967 |  |  | 51,306 |  |  | 91,661 |  |  | — |
Absolute Return(d) | 80,714 |  |  | 9,885 |  |  | — |  |  | 70,829 |
Cash | 13,830 |  |  | 13,830 |  |  | — |  |  | — |
Total Pension Assets | $ | 563,303 |  |  | $ | 247,463 |  |  | $ | 245,011 |  |  | $ | 70,829 |
Postretirement Assets: |  |  |  |  |  |  |
Fixed Income(c) | $ | 6,611 |  |  | $ | — |  |  | $ | 6,611 |  |  | $ | — |
(a) | Consists primarily of U.S. equity securities covering a diverse group of companies and U.S. stock funds that primarily track or are actively managed and measured against indices including the S&P 500 and the Russell 2000.
(b) | Consists primarily of international equity funds which include stocks and debt obligations of non-U.S. entities that primarily track or are actively managed and measured against various MSCI indices.
(c) | Consists primarily of fixed income mutual funds, corporate bonds, U.S. Treasury notes, other government securities and insurance policies.
(d) | Consists primarily of funds with holdings in private investment companies. See additional information about the Absolute Return investments below.
The following table sets forth the assets of our pension and postretirement plans that were accounted for at fair value on a recurring basis as of December 31, 2013 (in thousands):
| December 31, 2013 |  | Quoted Prices in Active Markets for Identical Items (Level 1) |  | Quoted Prices in Active Markets for Similar Items (Level 2) |  | Unobservable Inputs (Level 3)
Pension Assets: |  |  |  |  |  |  |
Domestic Equity(a) | $ | 167,627 |  |  | $ | 167,627 |  |  | $ | — |  |  | $ | — |
International Equity(b) | 70,609 |  |  | 70,609 |  |  | — |  |  | — |
Fixed Income(c) | 248,095 |  |  | 237,151 |  |  | 10,944 |  |  | — |
Absolute Return(d) | 125,137 |  |  | 1,538 |  |  | — |  |  | 123,599 |
Cash | 5,077 |  |  | 5,077 |  |  | — |  |  | — |
Total Pension Assets | $ | 616,545 |  |  | $ | 482,002 |  |  | $ | 10,944 |  |  | $ | 123,599 |
Postretirement Assets: |  |  |  |  |  |  |
Fixed Income(c) | $ | 5,620 |  |  | $ | — |  |  | $ | 5,620 |  |  | $ | — |
(a) | Consists primarily of U.S. stock funds that track or are actively managed and measured against the S&P 500 index.
(b) | Consists primarily of an international equity fund which invests in common stocks and other securities whose value is based on an international equity index or an underlying equity security or basket of equity securities.
(c) | Consists primarily of mutual funds that hold debt obligations issued by governments, corporations, municipalities and other borrowers. Also includes insurance policies.
(d) | Consists primarily of funds with holdings in private investment companies. See additional information about the Absolute Return investments below.
Changes in Fair Value of Plans Level 3 Assets | The table below sets forth a summary of changes in the fair value of the plans’ Level 3 assets for the year ended December 31, 2013 (in thousands):
Absolute Return: | Year Ended December 31, 2013
Beginning Balance | $ | 70,829 |
Total gains relating to assets sold during the period(a) | 994 |
Total unrealized losses relating to assets still held at the reporting date(a) | (4,511 | )
Purchases | 76,643 |
Sales | (20,356 | )
Ending Balance | $ | 123,599 |
(a) | These gains (losses) are recognized in the consolidated balance sheets and are included as changes in plan assets in the tables above.
The table below sets forth a summary of changes in the fair value of the plans’ Level 3 assets for the year ended December 31, 2012 (in thousands):
Absolute Return: | Year Ended December 31, 2012
Beginning Balance | $ | 73,025 |
Total losses relating to assets sold during the period(a) | (31 | )
Total unrealized gains relating to assets still held at the reporting date(a) | 2,311 |
Sales | (4,476 | )
Ending Balance | $ | 70,829 |
(a) | These gains (losses) are recognized in the consolidated balance sheets and are included as changes in plan assets in the tables above.
Current Forecast of Benefit Payments, which Reflect Expected Future Service | The current forecast of benefit payments, which reflect expected future service, amounts to (in millions):
| Total Pension Benefits |  | Domestic Pension Benefits |  | Total Postretirement Benefits
2014 | $ | 40.0 |  |  | $ | 37.6 |  |  | $ | 4.8 |
2015 | $ | 39.6 |  |  | $ | 37.8 |  |  | $ | 4.9 |
2016 | $ | 41.2 |  |  | $ | 39.4 |  |  | $ | 5.0 |
2017 | $ | 43.2 |  |  | $ | 40.9 |  |  | $ | 4.9 |
2018 | $ | 46.2 |  |  | $ | 44.5 |  |  | $ | 4.8 |
2019-2023 | $ | 236.3 |  |  | $ | 223.0 |  |  | $ | 21.4 |
Total Pension Benefits |
Reconciliation of Benefit Obligations, Plan Assets and Funded Status of Plans | The following provides a reconciliation of benefit obligations, plan assets and funded status of the plans, as well as a summary of significant assumptions for our pension benefit plans (in thousands):
| Year Ended December 31, 2013 |  | Year Ended December 31, 2012
| Total Pension Benefits |  | Domestic Pension Benefits |  | Total Pension Benefits |  | Domestic Pension Benefits
Change in benefit obligations: |  |  |  |  |  |  |
Benefit obligation at January 1 | $ | 762,395 |  |  | $ | 714,158 |  |  | $ | 674,665 |  |  | $ | 634,184 |
Service cost | 13,962 |  |  | 12,177 |  |  | 12,741 |  |  | 11,274 |
Interest cost | 29,883 |  |  | 28,406 |  |  | 31,636 |  |  | 29,843 |
Plan amendments | — |  |  | — |  |  | 1,123 |  |  | 1,123 |
Actuarial (gain) loss | (88,392 | ) |  | (85,774 | ) |  | 90,336 |  |  | 83,428 |
Benefits paid | (41,132 | ) |  | (39,630 | ) |  | (49,234 | ) |  | (45,694 | )
Employee contributions | 320 |  |  | — |  |  | 294 |  |  | — |
Foreign exchange loss | 1,546 |  |  | — |  |  | 834 |  |  | — |
Benefit obligation at December 31 | $ | 678,582 |  |  | $ | 629,337 |  |  | $ | 762,395 |  |  | $ | 714,158 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets at January 1 | $ | 563,303 |  |  | $ | 554,179 |  |  | $ | 531,105 |  |  | $ | 522,408 |
Actual return on plan assets | 83,853 |  |  | 83,499 |  |  | 62,577 |  |  | 62,167 |
Employer contributions | 9,790 |  |  | 7,556 |  |  | 18,299 |  |  | 15,298 |
Benefits paid | (41,132 | ) |  | (39,630 | ) |  | (49,234 | ) |  | (45,694 | )
Employee contributions | 320 |  |  | — |  |  | 294 |  |  | — |
Foreign exchange gain | 411 |  |  | — |  |  | 262 |  |  | — |
Fair value of plan assets at December 31 | $ | 616,545 |  |  | $ | 605,604 |  |  | $ | 563,303 |  |  | $ | 554,179 |
Funded status at December 31 | $ | (62,037 | ) |  | $ | (23,733 | ) |  | $ | (199,092 | ) |  | $ | (159,979 | )
| December 31, 2013 |  | December 31, 2012
| Total Pension Benefits |  | Domestic Pension Benefits |  | Total Pension Benefits |  | Domestic Pension Benefits
Amounts recognized in consolidated balance sheets: |  |  |  |  |  |  |
Current liabilities (accrued expenses) | $ | (4,390 | ) |  | $ | (2,856 | ) |  | $ | (3,611 | ) |  | $ | (2,015 | )
Noncurrent liabilities (pension benefits) | (57,647 | ) |  | (20,877 | ) |  | (195,481 | ) |  | (157,964 | )
Net pension liability | $ | (62,037 | ) |  | $ | (23,733 | ) |  | $ | (199,092 | ) |  | $ | (159,979 | )
Amounts recognized in accumulated other comprehensive income: |  |  |  |  |  |  |
Prior service benefit | $ | (70 | ) |  | $ | (441 | ) |  | $ | (759 | ) |  | $ | (1,181 | )
Net amount recognized | $ | (70 | ) |  | $ | (441 | ) |  | $ | (759 | ) |  | $ | (1,181 | )
Weighted-average assumption percentages: |  |  |  |  |  |  |
Discount rate | 5.00 | % |  | 5.14 | % |  | 4.04 | % |  | 4.10 | %
Rate of compensation increase | 2.78 | % |  | 3.50 | % |  | 3.37 | % |  | 3.50 | %
Components of Pension Benefits Expense | The components of pension benefits (credit) cost are as follows (in thousands):
| Year Ended |  | Year Ended |  | Year Ended
| December 31, 2013 |  | December 31, 2012 |  | December 31, 2011
| Total Pension Benefits |  | Domestic Pension Benefits |  | Total Pension Benefits |  | Domestic Pension Benefits |  | Total Pension Benefits |  | Domestic Pension Benefits
Service cost | $ | 13,962 |  |  | $ | 12,177 |  |  | $ | 12,741 |  |  | $ | 11,274 |  |  | $ | 12,830 |  |  | $ | 11,169 |
Interest cost | 29,883 |  |  | 28,406 |  |  | 31,636 |  |  | 29,843 |  |  | 32,933 |  |  | 30,945 |
Expected return on assets | (39,392 | ) |  | (38,975 | ) |  | (44,752 | ) |  | (44,342 | ) |  | (42,186 | ) |  | (41,776 | )
Actuarial (gain) loss(a) | (132,916 | ) |  | (130,297 | ) |  | 72,550 |  |  | 65,603 |  |  | 88,809 |  |  | 88,091 |
Amortization of prior service benefit | (689 | ) |  | (741 | ) |  | (757 | ) |  | (812 | ) |  | (953 | ) |  | (1,009 | )
Total net pension benefits (credit) cost | $ | (129,152 | ) |  | $ | (129,430 | ) |  | $ | 71,418 |  |  | $ | 61,566 |  |  | $ | 91,433 |  |  | $ | 87,420 |
Weighted-average assumption percentages: |  |  |  |  |  |  |  |  |  |  |
Discount rate | 4.04 | % |  | 4.10 | % |  | 5.04 | % |  | 5.07 | % |  | 5.40 | % |  | 5.45 | %
Expected return on plan assets | 7.20 | % |  | 7.25 | % |  | 8.19 | % |  | 8.25 | % |  | 8.19 | % |  | 8.25 | %
Rate of compensation increase | 3.37 | % |  | 3.50 | % |  | 3.96 | % |  | 4.11 | % |  | 3.93 | % |  | 4.11 | %
Estimated Amounts to Be Amortized from Accumulated Other Comprehensive Income | The estimated amounts to be amortized from accumulated other comprehensive income into net periodic pension costs during 2014 are as follows (in thousands):
| Total Pension Benefits |  | Domestic Pension Benefits
Amortization of prior service benefit | $ | (689 | ) |  | $ | (741 | )
Total Postretirement Benefits |
Reconciliation of Benefit Obligations, Plan Assets and Funded Status of Plans | The following provides a reconciliation of benefit obligations, plan assets and funded status of the plans, as well as a summary of significant assumptions for our postretirement benefit plans (in thousands):
| Year Ended December 31,
| 2013 |  | 2012
| Total Other Postretirement Benefits |  | Total Other Postretirement Benefits
Change in benefit obligations: |  |  |
Benefit obligation at January 1 | $ | 70,787 |  |  | $ | 68,935 |
Service cost | 309 |  |  | 274 |
Interest cost | 2,764 |  |  | 3,172 |
Actuarial (gain) loss | (6,165 | ) |  | 3,032 |
Benefits paid | (4,863 | ) |  | (4,626 | )
Benefit obligation at December 31 | $ | 62,832 |  |  | $ | 70,787 |
Change in plan assets: |  |  |
Fair value of plan assets at January 1 | $ | 6,611 |  |  | $ | 7,681 |
Actual return on plan assets | 368 |  |  | 358 |
Employer contributions | 3,504 |  |  | 3,198 |
Benefits paid | (4,863 | ) |  | (4,626 | )
Fair value of plan assets at December 31 | $ | 5,620 |  |  | $ | 6,611 |
Funded status at December 31 | $ | (57,212 | ) |  | $ | (64,176 | )
| December 31,
| 2013 |  | 2012
| Total Other Postretirement Benefits |  | Total Other Postretirement Benefits
Amounts recognized in consolidated balance sheets: |  |  |
Current liabilities (accrued expenses) | $ | (3,309 | ) |  | $ | (3,361 | )
Noncurrent liabilities (postretirement benefits) | (53,903 | ) |  | (60,815 | )
Net postretirement liability | $ | (57,212 | ) |  | $ | (64,176 | )
Amounts recognized in accumulated other comprehensive income: |  |  |
Prior service benefit | (429 | ) |  | (525 | )
Net amount recognized | $ | (429 | ) |  | $ | (525 | )
Weighted-average assumption percentages: |  |  |
Discount rate | 5.03 | % |  | 4.00 | %
Rate of compensation increase | 3.50 | % |  | 3.50 | %
Components of Pension Benefits Expense | The components of postretirement benefits (credit) cost are as follows (in thousands):
| Year Ended December 31,
| 2013 |  | 2012 |  | 2011
| Total Other Postretirement Benefits |  | Total Other Postretirement Benefits |  | Total Other Postretirement Benefits
Service cost | $ | 309 |  |  | $ | 274 |  |  | $ | 263 |
Interest cost | 2,764 |  |  | 3,172 |  |  | 3,393 |
Expected return on assets | (413 | ) |  | (488 | ) |  | (509 | )
Actuarial (gain) loss(a) | (6,120 | ) |  | 3,161 |  |  | 3,324 |
Amortization of prior service benefit | (95 | ) |  | (95 | ) |  | (697 | )
Total net postretirement benefits (credit) cost | $ | (3,555 | ) |  | $ | 6,024 |  |  | $ | 5,774 |
Weighted-average assumption percentages: |  |  |  |  |
Discount rate | 4.00 | % |  | 5.10 | % |  | 5.30 | %
Expected return on plan assets | 7.00 | % |  | 7.00 | % |  | 7.00 | %
Rate of compensation increase | 3.50 | % |  | 4.00 | % |  | 4.00 | %
Estimated Amounts to Be Amortized from Accumulated Other Comprehensive Income | The estimated amounts to be amortized from accumulated other comprehensive income into net periodic postretirement costs during 2014 are as follows (in thousands):
| Total Other Postretirement Benefits
Amortization of prior service benefit | $ | (95 | )

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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