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Pension and other post-retirement benefits (Tables) | 12 Months Ended
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Dec. 31, 2017
Retirement Benefits [Abstract] |
Benefit Obligations Fair Value of Plan Assets and Funded Status | The following table sets forth the projected benefit obligations, fair value of plan assets, and funded status of the Company’s plans as of December 31:
| Pension benefits |  | OPEB
| 2017 |  | 2016 |  | 2017 |  | 2016
Change in projected benefit obligation |  |  |  |  |  |  |
Projected benefit obligation, beginning of year | $ | 331,934 |  |  | $ | 269,382 |  |  | $ | 83,097 |  |  | $ | 76,565 |
Projected benefit obligation assumed from business combination | 344,383 |  |  | 63,811 |  |  | 131,263 |  |  | 9,749 |
Modifications to pension plan | — |  |  | (2,754 | ) |  | — |  |  | (1,235 | )
Service cost | 17,869 |  |  | 8,435 |  |  | 6,280 |  |  | 2,916 |
Interest cost | 27,346 |  |  | 13,029 |  |  | 8,621 |  |  | 3,525 |
Actuarial (gain) loss | 49,785 |  |  | 6,773 |  |  | 13,321 |  |  | (2,870 | )
Contributions from retirees | — |  |  | — |  |  | 2,364 |  |  | 547 |
Gain on curtailment | (1,129 | ) |  | — |  |  | (6 | ) |  | — |
Benefits paid | (64,605 | ) |  | (15,845 | ) |  | (8,092 | ) |  | (3,230 | )
Gain on foreign exchange | (48,546 | ) |  | (10,897 | ) |  | (14,834 | ) |  | (2,870 | )
Projected benefit obligation, end of year | $ | 657,037 |  |  | $ | 331,934 |  |  | $ | 222,014 |  |  | $ | 83,097 |
Change in plan assets |  |  |  |  |  |  |
Fair value of plan assets, beginning of year | 236,369 |  |  | 176,171 |  |  | 29,139 |  |  | 18,149 |
Plan assets acquired in business combination | 247,741 |  |  | 44,258 |  |  | 122,900 |  |  | 10,563 |
Actual return on plan assets | 82,096 |  |  | 17,221 |  |  | 25,612 |  |  | 1,854 |
Employer contributions | 38,833 |  |  | 21,776 |  |  | 2,683 |  |  | 2,317 |
Benefits paid | (64,605 | ) |  | (15,845 | ) |  | (5,901 | ) |  | (2,683 | )
Loss on foreign exchange | (33,686 | ) |  | (7,212 | ) |  | (10,737 | ) |  | (1,061 | )
Fair value of plan assets, end of year | $ | 506,748 |  |  | $ | 236,369 |  |  | $ | 163,696 |  |  | $ | 29,139 |
Unfunded status | $ | (150,289 | ) |  | $ | (95,565 | ) |  | $ | (58,318 | ) |  | $ | (53,958 | )
Amounts recognized in the consolidated balance sheets consists of: |  |  |  |  |  |  |
Non-current assets | — |  |  | — |  |  | 4,938 |  |  | — |
Current liabilities | (1,080 | ) |  | (436 | ) |  | (1,471 | ) |  | (1,242 | )
Non-current liabilities | (149,209 | ) |  | (95,129 | ) |  | (61,785 | ) |  | (52,716 | )
Net amount recognized | $ | (150,289 | ) |  | $ | (95,565 | ) |  | $ | (58,318 | ) |  | $ | (53,958 | )
Amounts Recognized in Accumulated Other Comprehensive loss | In conjunction with the plan amendments, the assets and projected benefit obligations of amended plans were revalued at the closest month-end date which resulted in an actuarial loss of U.S. $8,204 recorded in OCI.
Change in AOCI (before tax) | Pension |  | OPEB
| Actuarial losses (gains) |  | Past service gains |  | Actuarial losses (gains) |  | Past service gains
Balance, January 1, 2016 | $ | 29,461 |  |  | $ | (4,970 | ) |  | $ | (2,338 | ) |  | $ | — |
Additions to AOCI | 4,479 |  |  | (2,754 | ) |  | (3,242 | ) |  | (1,235 | )
Amortization in current period | (1,965 | ) |  | 765 |  |  | (80 | ) |  | 347 |
Balance at December 31, 2016 | $ | 31,975 |  |  | $ | (6,959 | ) |  | $ | (5,660 | ) |  | $ | (888 | )
Additions to AOCI | (3,716 | ) |  | — |  |  | (4,276 | ) |  | — |
Reclassification to regulatory accounts | 1,584 |  |  | — |  |  | 4,902 |  |  | — |
Amortization in current period | (1,290 | ) |  | 868 |  |  | 321 |  |  | 365 |
Balance at December 31, 2017 | $ | 28,553 |  |  | $ | (6,091 | ) |  | $ | (4,713 | ) |  | $ | (523 | )
Expected amortization in 2018 | $ | (451 | ) |  | $ | 781 |  |  | $ | 214 |  |  | $ | 328 |
Weighted Average Assumptions Used to Determine Net Benefit Obligation | Weighted average assumptions used to determine net benefit cost for 2017 and 2016 were as follows:
| Pension benefits |  | OPEB
| 2017 |  | 2016 |  | 2017 |  | 2016
Discount rate | 4.01 | % |  | 4.16 | % |  | 4.12 | % |  | 4.23 | %
Expected return on assets | 7.01 | % |  | 6.41 | % |  | 3.88 | % |  | 5.50 | %
Rate of compensation increase | 3.00 | % |  | 3.00 | % |  | N/A |  |  | N/A |
Health care cost trend rate |  |  |  |  |  |  |
Before Age 65 |  |  |  |  | 6.25 | % |  | 6.50 | %
Age 65 and after |  |  |  |  | 6.25 | % |  | 6.50 | %
Assumed Ultimate Medical Inflation Rate |  |  |  |  | 4.75 | % |  | 4.75 | %
Year in which Ultimate Rate is reached |  |  |  |  | 2023 |  |  | 2023 |
Weighted average assumptions used to determine net benefit obligation for 2017 and 2016 were as follows:
| Pension benefits |  | OPEB
| 2017 |  | 2016 |  | 2017 |  | 2016
Discount rate | 3.43 | % |  | 3.95 | % |  | 3.60 | % |  | 4.04 | %
Rate of compensation increase | 3.00 | % |  | 3.00 | % |  | N/A |  |  | N/A |
Health care cost trend rate |  |  |  |  |  |  |
Before Age 65 |  |  |  |  | 6.25 | % |  | 6.25 | %
Age 65 and after |  |  |  |  | 6.25 | % |  | 6.25 | %
Assumed Ultimate Medical Inflation Rate |  |  |  |  | 4.75 | % |  | 4.75 | %
Year in which Ultimate Rate is reached |  |  |  |  | 2024 |  |  | 2023 |
Effect of One Percent Change in Assumed Health Care Cost Trend Rate (HCCTR) | The effects on total service and interest cost of a one percent change in HCCTR excludes the effects of Empire.
| 2017
Effect of a 1 percentage point increase in the HCCTR on: |
Year-end benefit obligation | $ | 38,047 |
Total service and interest cost | 959 |
Effect of a 1 percentage point decrease in the HCCTR on: |
Year-end benefit obligation | $ | (30,057 | )
Total service and interest cost | (765 | )
Components of Net Benefit Costs For Pension Plans and OPEB Recorded as Part of Administrative Expenses |
| Pension benefits |  | OPEB
| 2017 |  | 2016 |  | 2017 |  | 2016
Service cost | $ | 17,869 |  |  | $ | 8,435 |  |  | $ | 6,280 |  |  | $ | 2,916 |
Interest cost | 27,346 |  |  | 13,029 |  |  | 8,621 |  |  | 3,525 |
Expected return on plan assets | (32,244 | ) |  | (14,854 | ) |  | (8,312 | ) |  | (1,265 | )
Amortization of net actuarial loss (gain) | 1,480 |  |  | 1,965 |  |  | (299 | ) |  | 80 |
Amortization of prior service credits | (808 | ) |  | (765 | ) |  | (339 | ) |  | (347 | )
Gain on curtailments and settlements | (1,394 | ) |  | — |  |  | (6 | ) |  | — |
Amortization of regulatory assets/liability | 15,179 |  |  | 4,698 |  |  | 507 |  |  | 1,471 |
Net benefit cost | $ | 27,428 |  |  | $ | 12,508 |  |  | $ | 6,452 |  |  | $ | 6,380 |
Target Asset Allocation | The Company’s target asset allocation is as follows:
Asset Class |  | Target (%) |  | Range (%)
Equity securities |  | 70 | % |  | 49% - 79% |
Debt securities |  | 30 | % |  | 21% - 51% |
Other |  | — | % |  | — | %
The fair values of investments as of December 31, 2017, by asset category, are as follows:
Asset Class |  | Level 1 |  | Percentage
Equity securities |  | 505,219 |  |  | 72 | %
Debt securities |  | 164,281 |  |  | 27 | %
Other |  | 945 |  |  | — | %
Expected Benefit Payments | The expected benefit payments over the next ten years are as follows:
| 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022-2026
Pension plan | $ | 43,445 |  |  | $ | 39,037 |  |  | $ | 40,132 |  |  | $ | 45,060 |  |  | $ | 45,108 |  |  | $ | 236,821 |
OPEB | 7,353 |  |  | 7,989 |  |  | 8,845 |  |  | 9,425 |  |  | 10,093 |  |  | 58,844 |

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