XML 71 R57.htm IDEA: XBRL DOCUMENT v3.22.0.1

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of Changes in Accumulated Postemployment Benefit Obligations [Table Text Block]

The following table provides the change in benefit obligation, change in plan assets, funded status, and amounts recognized in the Consolidated Balance Sheet of the defined benefit pension plans as of December 31, 2021 and 2020 (amounts in thousands):

Change in benefit obligation:			2021						2020
Benefit obligation at beginning of year			$	114,940					$	113,559
Service cost			655						801
Interest cost			2,880						3,496
Actuarial assumption changes			—						5,589
Actuarial loss			(1,985)						1,237
Benefits paid			(8,381)						(8,634)
Foreign currency translation			(1,522)						(1,108)
Benefit obligation at end of year			$	106,587					$	114,940
Change in plan assets:
Fair value of plan assets at beginning of year			$	89,744					$	81,375
Actual return on plan assets			13,259						12,749
Employer contributions			1,397						3,433
Benefits paid			(7,355)						(7,740)
Foreign currency translation			(38)						(73)
Fair value of plan assets at end of year			$	97,007					$	89,744
Unfunded status at end of year			$	(9,580)					$	(25,196)
Amounts recognized in Consolidated Balance Sheet:
Noncurrent assets			$	11,095					$	1,740
Current liabilities			(1,551)						(1,529)
Noncurrent liabilities			(19,124)						(25,407)
Net amount recognized in the Consolidated Balance Sheet			$	(9,580)					$	(25,196)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

Amounts recognized in accumulated other comprehensive loss:
			2021						2020
Unrecognized prior service cost			$	668					$	779
Unrecognized net loss			(22,231)						(34,650)
Deferred tax effect of unrecognized items			11,181						11,181
Net amount recognized in accumulated other comprehensive loss			$	(10,382)					$	(22,690)

Defined Benefit Plan, Assumptions [Table Text Block]

The weighted-average assumptions used in the actuarial computation that derived the benefit obligations at December 31 were as follows:			2021						2020
Discount rate			2.7		%				2.5		%
Expected long-term return on plan assets			6.5		%				7.0		%

The weighted-average assumptions used in the actuarial computation that derived net periodic pension cost for the years ended December 31, 2021, 2020, and 2019 were as follows:

			2021						2020						2019
Discount rate			1.4		%				3.6		%				5.0		%
Expected long-term return on plan assets			6.5		%				6.9		%				6.9		%

Schedule of Net Benefit Costs [Table Text Block]

The following table provides the components of net periodic pension cost for the plans, settlement cost, and the assumptions used in the measurement of the Company’s benefit obligation for the years ended December 31, 2021, 2020, and 2019 (amounts in thousands):

Components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss)
Net periodic benefit cost:			2021						2020						2019
Service cost			$	655					$	801					$	765
Interest cost			2,880						3,496						4,385
Assumed return on assets			(6,024)						(5,463)						(4,737)
Amortization of unrecognized prior service cost			(95)						(69)						49
Amortization of net unrecognized loss			2,805						2,840						3,238
Net periodic pension cost			$	221					$	1,605					$	3,700

Schedule of Allocation of Plan Assets [Table Text Block]

The allocation of the fair value of plan assets was as follows:

			Percentage of Plan Assets at December 31,												Target Allocation
Asset Category			2021						2020						2021
U.S. equities (a)			62		%				61		%				40% - 80%
Fixed income			23		%				20		%				20% - 50%
Cash and cash equivalents			6		%				10		%				0% - 20%
International equities (a)			7		%				7		%				0% - 16%
REITs			2		%				2		%
			100		%				100		%

(a)Total equities may not exceed 80% of total plan assets.

The fair value of the plan assets by asset categories consisted of the following as of the dates set forth below (amounts in thousands):

			Fair Value Measurements as of December 31, 2021
			Total						Level 1						Level 2						Level 3
Money market funds			$	5,830					$	5,830					$	—					$	—
Common stock			38,231						38,231						—						—
Bonds and securities			8,240						8,240						—						—
Mutual and insurance funds			44,706						44,194						512						—
Totals			$	97,007					$	96,495					$	512					$	—

			Fair Value Measurements as of December 31, 2020
			Total						Level 1						Level 2						Level 3
Money market funds			$	8,916					$	8,916					$	—					$	—
Common stock			35,951						35,951						—						—
Bonds and securities			3,638						3,638						—						—
Mutual and insurance funds			41,239						40,410						829						—
Totals			$	89,744					$	88,915					$	829					$	—

			Fair Value Measurements as of December 31, 2020
			Total						Level 1						Level 2						Level 3
Money market funds			$	8,916					$	8,916					$	—					$	—
Common stock			35,951						35,951						—						—
Bonds and securities			3,638						3,638						—						—
Mutual and insurance funds			41,239						40,410						829						—
Totals			$	89,744					$	88,915					$	829					$	—

Schedule of Expected Benefit Payments [Table Text Block]

Projected benefit payments from the plans as of December 31, 2021, are estimated as follows (amounts in thousands):

2022			8,472
2023			7,908
2024			7,823
2025			7,570
2026			7,272
2027-2031			31,062

Schedule of Accumulated and Projected Benefit Obligations

Information for pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets were (amounts in thousands):

			2021						2020
Projected and accumulated benefit obligations (1)			$	59,895					$	68,265
Fair value of plan assets			39,561						41,695

(1) The majority of the Company's pension plans are frozen plans and therefore there is no difference between the projected and accumulated benefit obligations.

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 benefit obligations including accumulated benefit obligation and projected benefit obligation.

+ 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 (e)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAccumulatedAndProjectedBenefitObligationsTableTextBlock
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 related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (s)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
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 the change in the accumulated postemployment benefit obligation from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits.

+ 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 (a)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInAccumulatedPostemploymentBenefitObligationsTableTextBlock
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

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=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration