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Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Change in Benefit Obligation

The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of assets as well as a statement of the funded status and balance sheet reporting for these plans.

			Pension Benefits												Other Benefits
Years Ended December 31,			2022						2021						2022						2021
									(In thousands)
Change in benefit obligation:
Benefit obligation, beginning of year			$	(471,834)					$	(492,925)					$	(27,625)					$	(29,498)
Service cost			(3,491)						(3,953)						(24)						(33)
Interest cost			(9,248)						(7,512)						(761)						(727)
Participant contributions			(350)						(143)						(5)						(4)
Actuarial gain			123,851						19,778						5,690						1,391
Acquisitions and divestitures			(9,257)						(12,886)						—						—
Settlements			6,567						5,855						—						—
Other			—						—						(21)						—
Foreign currency exchange rate changes			33,316						7,226						1,409						(227)
Benefits paid			13,022						12,726						1,393						1,473
Benefit obligation, end of year			$	(317,424)					$	(471,834)					$	(19,944)					$	(27,625)

During 2022, the actuarial gain was primarily due to increases in discount rates.

Schedule of Change in Plan Assets

			Pension Benefits												Other Benefits
Years Ended December 31,			2022						2021						2022						2021
									(In thousands)
Change in plan assets:
Fair value of plan assets, beginning of year			$	394,026					$	361,802					$	—					$	—
Actual return on plan assets			(84,595)						32,467						—						—
Employer contributions			12,080						11,618						1,388						1,469
Plan participant contributions			350						143						5						4
Acquisitions and divestitures			6,772						9,339						—						—
Settlements			(6,567)						(5,790)						—						—
Foreign currency exchange rate changes			(27,712)						(2,827)						—						—
Benefits paid			(13,022)						(12,726)						(1,393)						(1,473)
Fair value of plan assets, end of year			$	281,332					$	394,026					$	—					$	—

Schedule of Amounts Recognized in Balance Sheets

Funded status, end of year			$	(36,092)					$	(77,808)					$	(19,944)					$	(27,625)
Amounts recognized in the balance sheets:
Prepaid benefit cost			$	16,251					$	20,177					$	—					$	—
Accrued benefit liability, current			(3,106)						(3,173)						(1,353)						(1,440)
Accrued benefit liability, noncurrent			(49,237)						(94,812)						(18,591)						(26,185)
Net funded status			$	(36,092)					$	(77,808)					$	(19,944)					$	(27,625)

Schedule of Components of Net Periodic Benefit Costs

The following table provides the components of net periodic benefit costs for the plans.

			Pension Benefits																		Other Benefits
Years Ended December 31,			2022						2021						2020						2022						2021						2020
															(In thousands)
Components of net periodic benefit cost:
Service cost			$	3,491					$	3,953					$	3,930					$	24					$	33					$	33
Interest cost			9,248						7,512						9,729						761						727						809
Expected return on plan assets			(16,023)						(16,337)						(16,357)						—						—						—
Amortization of prior service cost			174						110						190						—						—						—
Settlement loss (gain)			1,189						(18)						3,153						—						—						—
Other adjustments			—						(191)						—						—						—						—
Net loss (gain) recognition			734						3,764						2,930						(73)						(43)						(59)
Net periodic benefit cost (income)			$	(1,187)					$	(1,207)					$	3,575					$	712					$	717					$	783

Schedule of Assumptions Used in Determining Benefit Obligations and Net Periodic Benefit Cost Amounts

The following table presents the assumptions used in determining the benefit obligations and the net periodic benefit cost amounts.

			Pension Benefits												Other Benefits
			Years Ended December 31,												Years Ended December 31,
			2022						2021						2022						2021
Weighted average assumptions for benefit obligations at year end:
Discount rate			4.9		%				2.0		%				5.2		%				2.9		%
Salary increase			3.2		%				3.3		%				N/A						N/A
Cash balance interest credit rate			4.5		%				4.7		%				N/A						N/A
Weighted average assumptions for net periodic cost for the year:
Discount rate			2.0		%				1.5		%				2.9		%				2.5		%
Salary increase			3.3		%				3.2		%				N/A						N/A
Cash balance interest credit rate			4.7		%				4.6		%				N/A						N/A
Expected return on assets			4.4		%				4.6		%				N/A						N/A
Assumed health care cost trend rates:
Health care cost trend rate assumed for next year			N/A						N/A						5.3		%				5.4		%
Rate that the cost trend rate gradually declines to			N/A						N/A						5.0		%				5.0		%
Year that the rate reaches the rate it is assumed to remain at			N/A						N/A						2023						2027

Schedule of Fair Values of Pension Plan Assets by Asset Category

The following table presents the fair values of the pension plan assets by asset category. 

			December 31, 2022																								December 31, 2021
			Fair Market Value at December 31, 2022						Quoted  Prices in Active Markets for Identical Assets (Level 1)						Significant Observable Inputs (Level 2)						Investments Measured at Net Asset Value									Fair Market Value at December 31, 2021						Quoted  Prices in Active Markets for Identical Assets (Level 1)						Significant Observable Inputs (Level 2)						Investments Measured at Net Asset Value
			(In thousands)																								(In thousands)
Asset Category:
Equity securities(a)
U.S. equities fund			$	49,153					$	4,384					$	—					$	44,769								$	77,687					$	2,913					$	—					$	83,047
Non-U.S. equities fund			51,227						5,393						—						45,834									77,299						6,267						—						56,028
Debt securities(b)
Government bond fund			56,318						—						2,011						54,307									64,255						—						731						97,646
Corporate bond fund			67,406						—						7,175						60,231									108,729						—						11,507						70,284
Fixed income fund(c)			22,680						—						—						22,680									16,939						—						—						7,320
Liability driven investment fund(d)			14,629						—						—						14,629									22,713						—						—						22,713
Other investments(e)			10,531						—						—						10,531									15,103						—						—						17,367
Cash & equivalents			9,388						3,242						—						6,146									11,301						5,271						—						5,344
Total			$	281,332					$	13,019					$	9,186					$	259,127								$	394,026					$	14,451					$	12,238					$	359,749

(a)This category includes investments in actively managed and indexed investment funds that invest in a diversified pool of equity securities of companies located in the U.S., Canada, Western Europe and other developed countries throughout the world. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. Equity securities held in separate accounts are valued based on observable quoted prices on active exchanges.

(b)This category includes investments in investment funds that invest in U.S. treasuries; other national, state and local government bonds; and corporate bonds of highly rated companies from diversified industries. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

(c)This category includes guaranteed insurance contracts and annuity policies.

(d)This category includes investments in funds that are designed to provide leveraged exposure to changes in interest rates. The fund purchases shares of funds that invest in government bonds, debt repurchase agreements, total return swaps and interest rate swaps.

(e)This category includes investments in hedge funds that pursue multiple strategies in order to provide diversification and balance risk/return objectives, real estate funds, and private equity funds.

Schedule of Benefits Expected to be Paid in Subsequent Years from Our Pension and Other Postretirement as Well as Medicare Subsidy Receipts

The following table reflects the benefits as of December 31, 2022 expected to be paid in each of the next five years and in the aggregate for the five years thereafter from our pension and other postretirement plans. Because our other postretirement plans are unfunded, the anticipated benefits with respect to these plans will come from our own assets. Because our pension plans are primarily funded plans, the anticipated benefits with respect to these plans will come primarily from the trusts established for these plans. 

			Pension Plans						Other Plans
			(In thousands)
2023			$	20,837					$	1,388
2024			22,218						1,392
2025			20,155						1,395
2026			21,101						1,397
2027			20,756						1,403
2027-2031			97,066						7,062
Total			$	202,133					$	14,037

Summary of Accumulated Other Comprehensive Loss and Changes in these Amounts

The pre-tax amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at December 31, 2022 and the changes in these amounts during the year ended December 31, 2022 are as follows. 

			Pension Benefits						Other Benefits
			(In thousands)
Components of accumulated other comprehensive loss:
Net actuarial loss (gain)			$	11,695					$	(7,117)
Net prior service cost			2,197						—
			$	13,892					$	(7,117)

			Pension Benefits						Other Benefits
			(In thousands)
Changes in accumulated other comprehensive loss:
Net actuarial loss (gain), beginning of year			$	39,995					$	(1,770)
Amortization of actuarial gain (loss)			(734)						73
Actuarial gain			(123,851)						(5,690)
Asset loss			100,618						—
Settlement loss recognized			(1,189)						—
Currency impact			(3,144)						270
Net actuarial loss (gain), end of year			$	11,695					$	(7,117)
Prior service cost, beginning of year			$	2,661					$	—
Amortization of prior service cost			(174)						—
Currency impact			(290)						—
Prior service cost, end of year			$	2,197					$	—

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