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Fair Value Measurement Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
--- | --- | --- | ---
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Investments under executive deferred compensation plan | [1] | $ 21,631 |  | $ 22,168 |  |
Private equity securities | [2] | 2,626 |  | 1,806 |  |
Foreign currency forward contracts, assets | [3] |  |  | 631 |  |
Obligations under executive deferred compensation plan | [1] | 21,631 |  | 22,168 |  |
Foreign currency forward contracts, liabilities | [3] | 250 |  |  |  |
Total Pension Benefits |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Defined benefit plan fair value of plan assets | [4] | 690,787 |  | 607,694 |  |
Other Postretirement Benefits |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Defined benefit plan fair value of plan assets |  | 3,292 | [4] | 4,439 | [3] | $ 5,620
Quoted Prices in Active Markets for Identical Items (Level 1) |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Investments under executive deferred compensation plan | [1] | 21,631 |  | 22,168 |  |
Private equity securities | [2] | 31 |  | 21 |  |
Foreign currency forward contracts, assets |  |  |  | 0 |  |
Obligations under executive deferred compensation plan | [1] | 21,631 |  | 22,168 |  |
Foreign currency forward contracts, liabilities |  | 0 |  |  |  |
Quoted Prices in Active Markets for Identical Items (Level 1) | Total Pension Benefits |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Defined benefit plan fair value of plan assets | [4] | 500,996 |  | 513,871 |  |
Quoted Prices in Active Markets for Identical Items (Level 1) | Other Postretirement Benefits |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Defined benefit plan fair value of plan assets |  | 0 |  | 0 |  |
Quoted Prices in Active Markets for Similar Items (Level 2) |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Investments under executive deferred compensation plan |  | 0 |  | 0 |  |
Private equity securities |  | 0 |  | 0 |  |
Foreign currency forward contracts, assets | [3] |  |  | 631 |  |
Obligations under executive deferred compensation plan |  | 0 |  | 0 |  |
Foreign currency forward contracts, liabilities | [3] | 250 |  |  |  |
Quoted Prices in Active Markets for Similar Items (Level 2) | Total Pension Benefits |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Defined benefit plan fair value of plan assets | [4] | 106,664 |  | 13,083 |  |
Quoted Prices in Active Markets for Similar Items (Level 2) | Other Postretirement Benefits |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Defined benefit plan fair value of plan assets |  | 3,292 | [4] | 4,439 | [3] |
Unobservable Inputs (Level 3) |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Investments under executive deferred compensation plan |  | 0 |  | 0 |  |
Private equity securities |  | 2,595 | [2] | 1,785 |  |
Foreign currency forward contracts, assets |  |  |  | 0 |  |
Obligations under executive deferred compensation plan |  | 0 |  | 0 |  |
Foreign currency forward contracts, liabilities |  | 0 |  |  |  |
Unobservable Inputs (Level 3) | Total Pension Benefits |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Defined benefit plan fair value of plan assets |  | 83,127 | [4] | 80,740 | [4] | $ 123,599
Unobservable Inputs (Level 3) | Other Postretirement Benefits |  |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |  |
Defined benefit plan fair value of plan assets |  | $ 0 |  | $ 0 |  |
[1] | We maintain an EDCP that was adopted in 2001 and subsequently amended. The purpose of the EDCP is to provide current tax planning opportunities as well as supplemental funds upon the retirement or death of certain of our employees. The EDCP is intended to aid in attracting and retaining employees of exceptional ability by providing them with these benefits. We also maintain a Benefit Protection Trust (the “Trust”) that was created to provide a source of funds to assist in meeting the obligations of the EDCP, subject to the claims of our creditors in the event of our insolvency. Assets of the Trust are consolidated in accordance with authoritative guidance. The assets of the Trust consist primarily of mutual fund investments (which are accounted for as trading securities and are marked-to-market on a monthly basis through the consolidated statements of income) and cash and cash equivalents. As such, these assets and obligations are classified within Level 1.
[2] | Primarily consists of private equity securities classified as available-for-sale and are reported in Investments in the consolidated balance sheets. The changes in fair value are reported in Other income (expenses), net, in our consolidated statements of income. Holdings in private equity securities are typically valued using the net asset valuations provided by the underlying private investment companies and as such are classified within Level 3.
[3] | As a result of our global operating and financing activities, we are exposed to market risks from changes in foreign currency exchange rates, which may adversely affect our operating results and financial position. When deemed appropriate, we minimize our risks from foreign currency exchange rate fluctuations through the use of foreign currency forward contracts. Unless otherwise noted, these derivative financial instruments are not designated as hedging instruments under ASC 815, Derivatives and Hedging. The foreign currency forward contracts are valued using broker quotations or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are classified within Level 2.
[4] | See Note 15 “Pension Plans and Other Postretirement Benefits” for further information about fair value measurements of our pension and postretirement plan assets, including the reconciliations of the plans’ Level 3 assets.

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- Definition Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 30 -Section 35 -Paragraph 50 -URI http://asc.fasb.org/extlink&oid=49178875&loc=d3e12355-114930 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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