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Pension and other post-retirement benefits (Tables)
 12 Months Ended
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