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Retirement Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract] |
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets | The majority of the Company's defined benefit pension plans have projected benefit obligations in excess of the fair value of plan assets. For these plans, the projected benefit obligations and the fair value of plan assets were as follows as of December 31, 2020 and 2019:
December 31, |  | 2020 |  |  | 2019 |
|  | (In thousands) |
Projected benefit obligations |  | $ | 494,273 |  |  | $ | 486,305 |
Fair value of plans' assets |  |  | 437,234 |  |  |  | 417,074 |
Schedule Of Fair Value Of Plan Assets In Excess Of Benefit Obligations Table Text Block | Certain of the Company's U.K. Plans have fair values of plan assets that exceed the projected benefit obligations. For these plans, the projected benefit obligations and the fair value of plan assets were as follows as of December 31, 2020 and 2019:
December 31, |  | 2020 |  |  | 2019 |
|  | (In thousands) |
Projected benefit obligations |  | $ | 267,200 |  |  | $ | 261,953 |
Fair value of plans' assets |  |  | 303,957 |  |  |  | 296,943 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | A reconciliation of the beginning and ending balances of the projected benefit obligations and the fair value of plans' assets for the Company's defined benefit pension plans as of the plans' most recent measurement dates is as follows:
Year Ended December 31, |  | 2020 |  |  | 2019 |
|  | (In thousands) |
Projected Benefit Obligations: |  |  |  |  |  |  |  |
Beginning of measurement period |  | $ | 748,258 |  |  | $ | 694,482 |
Service cost |  |  | 1,295 |  |  |  | 1,278 |
Interest cost |  |  | 16,643 |  |  |  | 22,408 |
Employee contributions |  |  | 35 |  |  |  | 45 |
Actuarial loss (gain) |  |  | 49,938 |  |  |  | 77,549 |
Plan settlements |  |  | (1,450 | ) |  |  | — |
Benefits paid |  |  | (55,150 | ) |  |  | (50,415 | )
Foreign currency effects |  |  | 1,904 |  |  |  | 2,911 |
End of measurement period |  |  | 761,473 |  |  |  | 748,258 |
Fair Value of Plans' Assets: |  |  |  |  |  |  |  |
Beginning of measurement period |  |  | 714,017 |  |  |  | 649,688 |
Actual return on plans' assets |  |  | 71,446 |  |  |  | 109,670 |
Employer contributions |  |  | 10,446 |  |  |  | 1,112 |
Employee contributions |  |  | 35 |  |  |  | 522 |
Plan settlements |  |  | (1,450 | ) |  |  | — |
Benefits paid |  |  | (55,150 | ) |  |  | (50,415 | )
Foreign currency effects |  |  | 1,847 |  |  |  | 3,440 |
End of measurement period |  |  | 741,191 |  |  |  | 714,017 |
Unfunded Status |  | $ | (20,282 | ) |  | $ | (34,241 | )
Schedule of Net Funded Status | The underfunded status of the Company's defined benefit pension plans recognized in the Consolidated Balance Sheets at December 31 consisted of:
December 31, |  | 2020 |  |  | 2019 |
|  | (In thousands) |
U.S. Qualified Plan |  | $ | 51,645 |  |  | $ | 63,538 |
Other international plans |  |  | 2,241 |  |  |  | 2,371 |
Subtotal, included in "Accrued pension liabilities" |  |  | 53,886 |  |  |  | 65,909 |
U.K. prepaid pension asset included in "Other noncurrent assets" |  |  | (36,757 | ) |  |  | (34,990 | )
Unfunded status of nonqualified defined benefit deferred pension plans included in "Other accrued liabilities" |  |  | 316 |  |  |  | 310 |
Unfunded status of nonqualified defined benefit pension plans included in "Other noncurrent liabilities" |  |  | 2,837 |  |  |  | 3,012 |
Total unfunded status |  | $ | 20,282 |  |  | $ | 34,241 |
Accumulated other comprehensive loss, before income taxes |  | $ | (264,244 | ) |  | $ | (268,275 | )
Schedule of Net Unrecognized Actuarial Gain (loss) | The following tables set forth the 2020 and 2019 changes in accumulated other comprehensive loss for the Company's defined benefit retirement plans and post-retirement medical benefits plan on a combined basis:
|  | Defined Benefit Pension Plans |  |  | Post-Retirement Medical Benefits Plan |
|  | (In thousands) |
Net unrecognized actuarial (loss) gain, December 31, 2018 |  | $ | (280,948 | ) |  | $ | 304 |
Amortization of net loss (gain) |  |  | 10,836 |  |  |  | (152 | )
Net gain arising during the year |  |  | 2,311 |  |  |  | — |
Currency translation |  |  | (626 | ) |  |  | — |
Net unrecognized actuarial (loss) gain, December 31, 2019 |  |  | (268,427 | ) |  |  | 152 |
Amortization of net loss (gain) |  |  | 10,804 |  |  |  | (152 | )
Net loss arising during the year |  |  | (6,510 | ) |  |  | — |
Currency translation |  |  | (111 | ) |  |  | — |
Net unrecognized actuarial loss, December 31, 2020 |  | $ | (264,244 | ) |  | $ | — |
Schedule of Expected Benefit Payments | Net periodic benefit cost related to all of the Company's defined benefit pension plans recognized in the Company's Consolidated Statements of Operations for the years ended December 31, 2020, 2019, and 2018 included the following components:
Year Ended December 31, |  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (In thousands) |
Service cost |  | $ | 1,295 |  |  | $ | 1,278 |  |  | $ | 1,395 |
Interest cost |  |  | 16,643 |  |  |  | 22,376 |  |  |  | 20,933 |
Expected return on assets |  |  | (28,016 | ) |  |  | (29,654 | ) |  |  | (34,267 | )
Amortization of actuarial loss |  |  | 10,804 |  |  |  | 10,837 |  |  |  | 10,744 |
Net periodic benefit cost (credit) |  | $ | 726 |  |  | $ | 4,837 |  |  | $ | (1,195 | )
Over the next ten years, the following benefit payments are expected to be required to be made from the Company's U.S. and U.K. defined benefit pension plans:
Year Ending December 31, |  | Expected Benefit Payments |
|  | (In thousands) |
2021 |  | $ | 42,436 |
2022 |  |  | 42,590 |
2023 |  |  | 42,611 |
2024 |  |  | 42,440 |
2025 |  |  | 42,329 |
2026-2030 |  |  | 206,549 |
Schedule of Assumptions Used | Certain assumptions used in computing the benefit obligations and net periodic benefit cost for the U.S. and U.K. defined benefit pension plans were as follows:
U.S. Qualified Plan: |  | 2020 |  |  | 2019 |
Discount rate used to compute benefit obligations |  |  | 2.38 | % |  |  | 3.15 | %
Discount rate used to compute periodic benefit cost |  |  | 3.15 | % |  |  | 4.31 | %
Expected long-term rates of return on plans' assets |  |  | 4.70 | % |  |  | 6.10 | %
U.K. Defined Benefit Plans: |  | 2020 |  |  | 2019 |
Discount rate used to compute benefit obligations |  |  | 1.60 | % |  |  | 1.93 | %
Discount rate used to compute periodic benefit cost |  |  | 1.93 | % |  |  | 2.77 | %
Expected long-term rates of return on plans' assets |  |  | 2.54 | % |  |  | 3.28 | %
Schedule of Allocation of Plan Assets | Asset allocations at the respective measurement dates, by asset category, for the Company's U.S. and U.K. qualified defined benefit pension plans were as follows:
|  | U.S. Qualified Plan |  |  | U.K. Plans |
December 31, |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Equity securities |  |  | 23.4 | % |  |  | 21.4 | % |  |  | 17.1 | % |  |  | 17.9 | %
Fixed income securities |  |  | 67.2 | % |  |  | 69.3 | % |  |  | 67.4 | % |  |  | 68.3 | %
Alternative strategies |  |  | 6.2 | % |  |  | 5.9 | % |  |  | 14.7 | % |  |  | 13.0 | %
Cash, cash equivalents and short-term investment funds |  |  | 3.1 | % |  |  | 3.4 | % |  |  | 0.9 | % |  |  | 0.8 | %
Total asset allocation |  |  | 100.0 | % |  |  | 100.0 | % |  |  | 100.0 | % |  |  | 100.0 | %

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- 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
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