XML 53 R39.htm IDEA: XBRL DOCUMENT
v3.20.4

RETIREMENT BENEFITS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Changes in Benefit Obligations and Plan Assets as Well as Funded Status of Retirement Plans | The changes in benefit obligations and plan assets as well as the funded status of our retirement plans at December 31 were as follows:
| Pension Benefits |  | Other Postretirement Benefits
| 2020 |  | 2019 |  | 2020 |  | 2019
| (Dollars in thousands)
Change in benefit obligation |  |  |  |  |  |  |
Obligation at beginning of year | $ | 855,509 |  |  | $ | 751,625 |  |  | $ | 21,718 |  |  | $ | 19,186 |
Service cost | 13,638 |  |  | 12,505 |  |  | 88 |  |  | 80 |
Interest cost | 23,074 |  |  | 28,316 |  |  | 566 |  |  | 759 |
Actuarial losses | 100,839 |  |  | 103,918 |  |  | 1,440 |  |  | 3,477 |
Acquisition | 8,930 |  |  | — |  |  | — |  |  | — |
Plan amendments | — |  |  | 528 |  |  | — |  |  | — |
Benefits paid | (41,332) |  |  | (39,508) |  |  | (1,765) |  |  | (1,888) |
Participants’ contributions | — |  |  | — |  |  | 105 |  |  | 104 |
Foreign currency exchange rate changes | 10,757 |  |  | (1,875) |  |  | — |  |  | — |
Obligation at end of year | 971,415 |  |  | 855,509 |  |  | 22,152 |  |  | 21,718 |
Change in plan assets |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | 869,070 |  |  | 732,502 |  |  | — |  |  | — |
Actual return on plan assets | 126,249 |  |  | 174,014 |  |  | — |  |  | — |
Employer contributions | 2,358 |  |  | 2,062 |  |  | 1,660 |  |  | 1,784 |
Participants’ contributions | — |  |  | — |  |  | 105 |  |  | 104 |
Benefits paid | (41,332) |  |  | (39,508) |  |  | (1,765) |  |  | (1,888) |
Fair value of plan assets at end of year | 956,345 |  |  | 869,070 |  |  | — |  |  | — |
Funded status | $ | (15,070) |  |  | $ | 13,561 |  |  | $ | (22,152) |  |  | $ | (21,718) |
| Pension Benefits |  | Other Postretirement Benefits
| 2020 |  | 2019 |  | 2020 |  | 2019
| (Dollars in thousands)
Amounts recognized in the consolidated balance sheets |  |  |  |  |  |  |
Non-current assets | $ | 125,740 |  |  | $ | 122,552 |  |  | $ | — |  |  | $ | — |
Current liabilities | (2,674) |  |  | (2,225) |  |  | (1,665) |  |  | (1,794) |
Non-current liabilities | (138,136) |  |  | (106,766) |  |  | (20,487) |  |  | (19,924) |
Net amount recognized | $ | (15,070) |  |  | $ | 13,561 |  |  | $ | (22,152) |  |  | $ | (21,718) |
Amounts recognized in accumulated other comprehensive loss (income) |  |  |  |  |  |  |
Net actuarial loss (gain) | $ | 230,058 |  |  | $ | 193,061 |  |  | $ | (1,344) |  |  | $ | (3,123) |
Prior service cost (credit) | 974 |  |  | 1,179 |  |  | (4,467) |  |  | (6,405) |
Net amount recognized | $ | 231,032 |  |  | $ | 194,240 |  |  | $ | (5,811) |  |  | $ | (9,528) |
Benefits Expected to be Paid from Pension and Other Postretirement Benefit Plans, Which Reflect Future Years of Services and Medicare Subsidy Expected to be Received | The benefits expected to be paid from our pension and other postretirement benefit plans, which reflect future years of service, are as follows (dollars in thousands):
| Pension Benefits |  | Other Postretirement Benefits
2021 | $ | 43,591 |  |  | $ | 1,665 |
2022 | 44,786 |  |  | 1,515 |
2023 | 45,998 |  |  | 1,464 |
2024 | 46,887 |  |  | 1,422 |
2025 | 48,032 |  |  | 1,351 |
2026-2030 | 247,776 |  |  | 6,284 |
| $ | 477,070 |  |  | $ | 13,701 |
Components of Net Periodic Benefit Cost | The components of the net periodic benefit credit for each of the years ended December 31 were as follows:
| Pension Benefits |  | Other Postretirement Benefits
| 2020 |  | 2019 |  | 2018 |  | 2020 |  | 2019 |  | 2018
| (Dollars in thousands)
Service cost | $ | 13,638 |  |  | $ | 12,505 |  |  | $ | 14,238 |  |  | $ | 88 |  |  | $ | 80 |  |  | $ | 99 |
Interest cost | 23,074 |  |  | 28,316 |  |  | 25,316 |  |  | 566 |  |  | 759 |  |  | 640 |
Expected return on plan assets | (72,122) |  |  | (60,567) |  |  | (68,575) |  |  | — |  |  | — |  |  | — |
Amortization of prior service cost (credit) | 205 |  |  | 115 |  |  | 173 |  |  | (1,937) |  |  | (2,330) |  |  | (1,392) |
Amortization of actuarial losses (gains) | 11,859 |  |  | 16,399 |  |  | 7,378 |  |  | (339) |  |  | (488) |  |  | (506) |
Net periodic benefit credit | $ | (23,346) |  |  | $ | (3,232) |  |  | $ | (21,470) |  |  | $ | (1,622) |  |  | $ | (1,979) |  |  | $ | (1,159) |
Multiemployer Pension Plans | Further information on these multiemployer plans for the years ended December 31, 2020, 2019 and 2018 is as follows:
Pension Fund |  | EIN/Pension Plan Number |  | Pension Protection Act Zone Status |  |  | FIP / RP Status Pending / Implemented |  | Contributions |  | Surcharge Imposed
2020 |  |  | 2019 |  |  | 2020 |  | 2019 |  | 2018 |
|  |  |  |  |  |  |  |  |  |  |  | (Dollars in thousands) |  |
Central States, Southeast & Southwest Areas Pension Fund (1) |  | 36-6044243/001 |  | Red | (2) |  | Red | (2) |  | Implemented |  | $ | — |  |  | $ | 1,166 |  |  | $ | 1,797 |  |  | No
United Food & Commercial Workers — Local 1 Pension Fund (3) |  | 16-6144007/001 |  | Red | (2) |  | Red | (2) |  | Implemented |  | 240 |  |  | 245 |  |  | 237 |  |  | No
IAM National Pension Fund (4) |  | 51-6031295/002 |  | Red |  |  | Red |  |  | Implemented |  | 2,746 |  |  | 2,667 |  |  | 2,587 |  |  | No
All Other |  |  |  |  |  |  |  |  |  |  |  | 775 |  |  | 707 |  |  | 671 |  |  |
Total Contributions |  |  |  |  |  |  |  |  |  |  |  | $ | 3,761 |  |  | $ | 4,785 |  |  | $ | 5,292 |  |  |
______________________ (1) In 2019, we withdrew completely from this pension fund. See Note 4 for further information. (2) Under the Multiemployer Pension Reform Act of 2014, the status of this pension fund was critical and declining, as defined under such Act. (3) The collective bargaining agreement related to this pension fund expires on January 14, 2024. A single company that was making over 80 percent of the contributions for this pension fund filed for Chapter 11 bankruptcy during 2018 and withdrew from this pension fund without paying its withdrawal liability. For 2019 and 2018, the fund actuary for this pension fund projected insolvency for this pension fund in 2026 and 2025, respectively. (4) The applicable collective bargaining agreements related to this pension fund expire at various times through February 28, 2023. Although this pension fund was formally certified in the yellow zone in 2019, the trustees of this pension plan elected voluntarily to place this pension plan in the red zone to take advantage of certain provisions of the Pension Protection Act even though this pension plan had a funded status of 89 percent at the end of 2018 and a funded status of 87 percent at the end of 2019.
Weighted Average Asset Allocation for Pension Plans and Target Allocation | The weighted average asset allocation for our pension plans at December 31, 2020 and 2019 and target allocation for 2020 was as follows:
| Target Allocation |  | Actual Allocation
| 2020 |  | 2019
Equity securities—U.S. | 49 | % |  | 47 | % |  | 47 | %
Equity securities—International | 9 | % |  | 10 | % |  | 10 | %
Debt securities | 42 | % |  | 42 | % |  | 42 | %
Cash and cash equivalents | — |  |  | 1 | % |  | 1 | %
| 100 | % |  | 100 | % |  | 100 | %
Fair Value of Plan Assets by Asset Category | The fair value of our plan assets by asset category consisted of the following at December 31:
| 2020 |  | 2019
| (Dollars in thousands)
Equity securities—U.S. | $ | 453,135 |  |  | $ | 414,260 |
Equity securities—International | 94,919 |  |  | 86,822 |
Debt securities | 397,529 |  |  | 362,020 |
Cash and cash equivalents | 10,762 |  |  | 5,968 |
| $ | 956,345 |  |  | $ | 869,070 |
Benefit Obligation |
Weighted Average Actuarial Assumptions | Our principal domestic pension and other postretirement benefit plans used the following weighted average actuarial assumptions to determine the benefit obligations at December 31:
| 2020 |  | 2019
Discount rate | 2.5 | % |  | 3.4 | %
Expected return on plan assets | 8.5 | % |  | 8.5 | %
Rate of compensation increase | 2.5 | % |  | 2.5 | %
Health care cost trend rate: |  |  |
Assumed for next year | 6.2 | % |  | 6.3 | %
Ultimate rate | 4.2 | % |  | 4.3 | %
Year that the ultimate rate is reached | 2036 |  | 2035
Benefit Costs |
Weighted Average Actuarial Assumptions | Our principal domestic pension and other postretirement benefit plans used the following weighted average actuarial assumptions to determine net periodic benefit credit for the years ended December 31:
| 2020 |  | 2019 |  | 2018
Discount rate | 3.4 | % |  | 4.5 | % |  | 3.8 | %
Expected return on plan assets | 8.5 | % |  | 8.5 | % |  | 8.5 | %
Rate of compensation increase | 2.5 | % |  | 2.6 | % |  | 2.6 | %
Health care cost trend rate | 6.3 | % |  | 6.4 | % |  | 6.2 | %

X
- Definition Pension Plans Fair Value Of Investments + References No definition available. + Details
Name: | slgn_PensionPlansFairValueOfInvestmentsTableTextBlock
Namespace Prefix: | slgn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about multiemployer plan. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=35742348&loc=SL14450788-114948 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450691-114947 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (e)(2) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 9 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450691-114947 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (f)(1) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 5 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947 + Details
Name: | us-gaap_ScheduleOfMultiemployerPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=slgn_BenefitObligationMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=slgn_BenefitCostsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |