XML 61 R47.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Retirement Benefits [Abstract] |
Schedule of Costs of Retirement Plans | Net periodic pension benefit expense recorded in the Company's consolidated statement of operations for defined benefit pension plans include the following components (dollars in thousands):
|  | Pension Benefit |  |
|  | 2021 |  | 2020 |  | 2019 |  |  |  |  |  |
Service cost |  | $ | 1,280 |  |  | $ | 1,230 |  |  | $ | 1,050 |  |  |  |  |  |  |
Interest cost |  | 800 |  |  | 930 |  |  | 1,070 |  |  |  |  |  |  |
Expected return on plan assets |  | (1,530) |  |  | (1,450) |  |  | (1,400) |  |  |  |  |  |  |
Amortization of net loss |  | 910 |  |  | 890 |  |  | 580 |  |  |  |  |  |  |
Net periodic benefit expense |  | $ | 1,460 |  |  | $ | 1,600 |  |  | $ | 1,300 |  |  |  |  |  |  |
Schedule of Assumptions Used | Weighted average assumptions used in accounting for the U.S. defined benefit pension plans are as follows:
|  | Pension Benefit |  |
|  | 2021 |  | 2020 |  | 2019 |  |  |  |  |  |
Discount rate for obligations |  | 3.06 | % |  | 2.79 | % |  | 3.41 | % |  |  |  |  |  |
Discount rate for benefit costs |  | 2.79 | % |  | 3.41 | % |  | 4.50 | % |  |  |  |  |  |
Rate of increase in compensation levels |  | N/A |  | N/A |  | N/A |  |  |  |  |  |
Expected long-term rate of return on plan assets |  | 6.13 | % |  | 6.13 | % |  | 7.13 | % |  |  |  |  |  |
The Company utilizes a high-quality (Aa or greater) corporate bond yield curve as the basis for its domestic discount rate for its pension benefit plans. Management believes this yield curve removes the impact of including additional required corporate bond yields (potentially considered in the above-median curve) resulting from the uncertain economic climate that does not necessarily reflect the general trend in high-quality interest rates. Weighted average assumptions used in accounting for the non-U.S. defined benefit pension plans are as follows:
|  | Pension Benefit
|  | 2021 |  | 2020 |  | 2019
Discount rate for obligations |  | 2.10 | % |  | 1.50 | % |  | 2.10 | %
Discount rate for benefit costs |  | 1.50 | % |  | 2.10 | % |  | 3.00 | %
Rate of increase in compensation levels |  | 3.30 | % |  | 2.80 | % |  | 3.00 | %
Expected long-term rate of return on plan assets |  | 3.90 | % |  | 4.10 | % |  | 4.60 | %
Schedule of Changes in Projected Benefit Obligations and Fair Value of Plan Assets | The following provides a reconciliation of the changes in the Company's defined benefit pension plans' projected benefit obligations and fair value of assets for each of the years ended December 31, 2021 and 2020 and the funded status as of December 31, 2021 and 2020 (dollars in thousands):
|  | Pension Benefit
|  | 2021 |  | 2020
Changes in Projected Benefit Obligations |  |  |  |
Benefit obligations at January 1 |  | $ | (40,830) |  |  | $ | (36,580) |
Service cost |  | (1,280) |  |  | (1,230) |
Interest cost |  | (800) |  |  | (930) |
Participant contributions |  | (50) |  |  | (60) |
Actuarial gain (loss) (a) |  | 3,290 |  |  | (2,420) |
Benefit payments |  | 1,840 |  |  | 1,140 |
Change in foreign currency |  | 270 |  |  | (750) |
Projected benefit obligations at December 31 |  | $ | (37,560) |  |  | $ | (40,830) |
Changes in Plan Assets |  |  |  |
Fair value of plan assets at January 1 |  | $ | 36,060 |  |  | $ | 30,260 |
Actual return on plan assets |  | 2,060 |  |  | 4,780 |
Employer contributions |  | 2,050 |  |  | 1,140 |
Participant contributions |  | 50 |  |  | 60 |
Benefit payments |  | (1,840) |  |  | (1,140) |
Change in foreign currency |  | (250) |  |  | 960 |
Fair value of plan assets at December 31 |  | $ | 38,130 |  |  | $ | 36,060 |
Funded status at December 31 |  | $ | 570 |  |  | $ | (4,770) |
__________________________ (a) The actuarial gain for the year ended December 31, 2021 was primarily due to an increase in the discount rate utilized in measuring the projected benefit obligations as well as other assumptions and experience gains. The actuarial loss for the year ended December 31, 2020 was primarily due to a decrease in the discount rate utilized in measuring the projected benefit obligations, partially offset by other assumptions and experience gains.
Schedule of Amounts Recognized in Balance Sheet |
|  | Pension Benefit |  |
|  | 2021 |  | 2020 |  |  |  |
Amounts Recognized in Balance Sheet |  |  |  |  |  |  |  |
Other assets |  | $ | 7,740 |  |  | $ | 4,470 |  |  |  |  |
Current liabilities |  | (300) |  |  | (340) |  |  |  |  |
Noncurrent liabilities |  | (6,870) |  |  | (8,900) |  |  |  |  |
Net asset (liability) recognized at December 31 |  | $ | 570 |  |  | $ | (4,770) |  |  |  |  |
Schedule of Accumulated Other Comprehensive Income |
|  | Pension Benefit |  |
|  | 2021 |  | 2020 |  |  |  |
Amounts Recognized in Accumulated Other Comprehensive Loss |  |  |  |  |  |  |  |
Unrecognized prior service cost |  | $ | 310 |  |  | $ | 170 |  |  |  |  |
Unrecognized net loss |  | 6,550 |  |  | 11,470 |  |  |  |  |
Total accumulated other comprehensive loss recognized at December 31 |  | $ | 6,860 |  |  | $ | 11,640 |  |  |  |  |
Changes in AOCI by component for the year ended December 31, 2021 are summarized as follows, net of tax (dollars in thousands):
|  | Defined Benefit Plans |  | Derivative Instruments |  | Foreign Currency Translation |  | Total
Balance, December 31, 2020 |  | $ | (8,620) |  |  | $ | (3,580) |  |  | $ | 6,580 |  |  | $ | (5,620) |
Net unrealized gains (losses) arising during the period (a) |  | 3,150 |  |  | 9,490 |  |  | (7,430) |  |  | 5,210 |
Less: Net realized losses reclassified to net income (b) |  | (640) |  |  | — |  |  | — |  |  | (640) |
Net current-period other comprehensive income (loss) |  | 3,790 |  |  | 9,490 |  |  | (7,430) |  |  | 5,850 |
Balance, December 31, 2021 |  | $ | (4,830) |  |  | $ | 5,910 |  |  | $ | (850) |  |  | $ | 230 |
__________________________ (a) Defined benefit plans, net of income tax of $0.8 million. See Note 18, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax of $3.1 million. See Note 14, "Derivative Instruments," for further details. (b) Defined benefit plans, net of income tax of $0.2 million. See Note 18, "Employee Benefit Plans," for additional details. Changes in AOCI by component for the year ended December 31, 2020 are summarized as follows, net of tax (dollars in thousands):
|  | Defined Benefit Plans |  | Derivative Instruments |  | Foreign Currency Translation |  | Total
Balance, December 31, 2019 |  | $ | (9,930) |  |  | $ | 4,230 |  |  | $ | (300) |  |  | $ | (6,000) |
Net unrealized gains (losses) arising during the period (a) |  | 670 |  |  | (7,810) |  |  | 6,880 |  |  | (260) |
Less: Net realized losses reclassified to net income (b) |  | (640) |  |  | — |  |  | — |  |  | (640) |
Net current-period other comprehensive income (loss) |  | 1,310 |  |  | (7,810) |  |  | 6,880 |  |  | 380 |
Balance, December 31, 2020 |  | $ | (8,620) |  |  | $ | (3,580) |  |  | $ | 6,580 |  |  | $ | (5,620) |
__________________________ (a) Defined benefit plans, net of income tax of $0.4 million. See Note 18, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax expense of $2.5 million. See Note 14, "Derivative Instruments," for further details. (b) Defined benefit plans, net of income tax of $0.2 million. See Note 18, "Employee Benefit Plans," for additional details.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets |
|  | Accumulated Benefit Obligations |  | Projected Benefit Obligations
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Benefit Obligations at December 31, |  |  |  |  |  |  |  |
Total benefit obligations |  | $ | (35,970) |  |  | $ | (38,410) |  |  | $ | (37,560) |  |  | $ | (40,830) |
Plans with benefit obligations exceeding plan assets |  |  |  |  |  |  |  |
Benefit obligations |  | $ | (16,630) |  |  | $ | (16,820) |  |  | $ | (16,780) |  |  | $ | (16,940) |
Plan assets |  | $ | 9,610 |  |  | $ | 7,700 |  |  | $ | 9,610 |  |  | $ | 7,700 |
Schedule of Effect of Change in Discount Rate and Expected Return on Assets on Benefit Obligations and Expense | A 25 basis point change in benefit obligation discount rates or 50 basis point change in expected return on plan assets would have the following effect (dollars in thousands):
|  | Pension Benefit |  |
|  | December 31, 2021 Benefit Obligation |  |  |  | 2021 Expense |  |
Discount rate |  |  |  |  |  |  |  |
25 basis point increase |  | $ | (1,570) |  |  |  |  | $ | (50) |  |  |
25 basis point decrease |  | $ | 1,670 |  |  |  |  | $ | 50 |  |  |
Expected return on assets |  |  |  |  |  |  |  |
50 basis point increase |  | N/A |  |  |  | $ | (190) |  |  |
50 basis point decrease |  | N/A |  |  |  | $ | 190 |  |  |
Schedule of Allocation of Plan Assets | The actual weighted average asset allocation of the Company's domestic and foreign pension plans' assets at December 31, 2021 and 2020 and target allocations by class, were as follows:
|  | Domestic Pension |  | Foreign Pension
|  |  |  | Actual |  |  |  | Actual
|  | Target |  | 2021 |  | 2020 |  | Target |  | 2021 |  | 2020
Equity securities |  | 60 | % |  | 62 | % |  | 67 | % |  | 33 | % |  | 34 | % |  | 33 | %
Fixed income |  | 36 | % |  | 37 | % |  | 32 | % |  | 45 | % |  | 44 | % |  | 44 | %
Diversified growth(a) |  | — | % |  | — | % |  | — | % |  | 22 | % |  | 22 | % |  | 22 | %
Cash and other |  | 4 | % |  | 1 | % |  | 1 | % |  | — |  |  | — | % |  | 1 | %
Total |  | 100 | % |  | 100 | % |  | 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following table summarizes the level under the fair value hierarchy (see Note 3, "Summary of Significant Accounting Policies") that the Company's pension plan assets are measured, on a recurring basis as of December 31, 2021 (dollars in thousands):
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Plan assets subject to leveling |  |  |  |  |  |  |  |
Investment funds |  |  |  |  |  |  |  |
Equity securities |  | $ | 5,970 |  |  | $ | 5,970 |  |  | $ | — |  |  | $ | — |
Fixed income |  | 3,510 |  |  | 3,510 |  |  | — |  |  | — |
Cash and cash equivalents |  | 70 |  |  | 70 |  |  | — |  |  | — |
Plan assets measured at net asset value(a) |  |  |  |  |  |  |  |
Investment funds |  |  |  |  |  |  |  |
Equity securities |  | 9,540 |  |  |  |  |  |  |
Fixed income |  | 12,360 |  |  |  |  |  |  |
Diversified growth |  | 6,380 |  |  |  |  |  |  |
Cash and cash equivalents |  | 300 |  |  |  |  |  |  |
Total |  | $ | 38,130 |  |  | $ | 9,550 |  |  | $ | — |  |  | $ | — |
________________________________________ (a) Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amount presented in the fair value of plan assets.
Schedule of Expected Benefit Payments | The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the following years (dollars in thousands):
|  | Pension Benefit
2022 |  | $ | 1,170 |
2023 |  | 1,210 |
2024 |  | 1,260 |
2025 |  | 1,310 |
2026 |  | 1,350 |
Years 2027-2031 |  | 7,920 |

X
- Definition Schedule of Changes in Projected Benefit Obligations and Fair Value in Plan Assets [Table Text Block] + References No definition available. + Details
Name: | trs_ScheduleOfChangesInProjectedBenefitObligationsAndFairValueInPlanAssetsTableTextBlock
Namespace Prefix: | trs_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Effect of Change in Discount Rate and Expected Return on Assets on Benefit Obligations and Expense [Table Text Block] + References No definition available. + Details
Name: | trs_ScheduleOfEffectOfChangeInDiscountRateAndExpectedReturnOnAssetsOnBenefitObligationsAndExpenseTableTextBlock
Namespace Prefix: | trs_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + 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 (c) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 + Details
Name: | us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + 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 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration