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Retirement Plans and Other Post-Retirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2021
Retirement Benefits [Abstract] |
Schedule of Change in Benefit Obligation and Plan Assets | All information presented in the following tables represents amounts attributable to continuing operations.
| Pension Benefits |  | Other Benefits
In thousands | 2021 |  | 2020 |  | 2021 |  | 2020
Change in Benefit Obligation |  |  |  |  |  |  |
Balance at beginning of year | $ | 47,333 |  |  | $ | 45,714 |  |  | $ | 5,967 |  |  | $ | 6,511 |
Service cost | — |  |  | — |  |  | 29 |  |  | — |
Interest cost | 974 |  |  | 1,210 |  |  | 127 |  |  | 184 |
Benefits paid | (2,247) |  |  | (2,420) |  |  | (1,078) |  |  | (1,611) |
Participant contributions | — |  |  | — |  |  | — |  |  | — |
Plan amendments | — |  |  | — |  |  | 6 |  |  | — |
Actuarial (gain)/loss | (203) |  |  | 1,749 |  |  | 79 |  |  | 883 |
Effect of currency rate changes | (972) |  |  | 1,080 |  |  | — |  |  | — |
Balance at end of year | $ | 44,885 |  |  | $ | 47,333 |  |  | $ | 5,130 |  |  | $ | 5,967 |
Change in Plan Assets |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $ | — |  |  | $ | 53,401 |  |  | $ | — |  |  | $ | — |
Reversion of excess plan assets | — |  |  | (53,401) |  |  | — |  |  | — |
Total contributions | 2,247 |  |  | 2,420 |  |  | 1,078 |  |  | 1,611 |
Benefits paid | (2,247) |  |  | (2,420) |  |  | (1,078) |  |  | (1,611) |
Fair value of plan assets at end of year | — |  |  | — |  |  | — |  |  | — |
Funded status at end of year | $ | (44,885) |  |  | $ | (47,333) |  |  | $ | (5,130) |  |  | $ | (5,967) |
Summary of Amounts Recognized in Consolidated Balance Sheets | Amounts recognized in the consolidated balance sheets consist of the following as of December 31:
| Pension Benefits |  | Other Benefits
In thousands | 2021 |  | 2020 |  | 2021 |  | 2020
Current liabilities | $ | (2,096) |  |  | $ | (2,271) |  |  | $ | (852) |  |  | $ | (1,167) |
Other long-term liabilities | (42,789) |  |  | (45,062) |  |  | (4,278) |  |  | (4,800) |
Net amount recognized | $ | (44,885) |  |  | $ | (47,333) |  |  | $ | (5,130) |  |  | $ | (5,967) |
Components of Amounts Recognized as Accumulated Other Comprehensive Income on Pre-Tax Basis | The components of amounts recognized as “Accumulated other comprehensive income” consist of the following on a pre-tax basis:
| Pension Benefits |  | Other Benefits
In thousands | 2021 |  | 2020 |  | 2021 |  | 2020
Prior service credit (cost) | $ | (172) |  |  | $ | (226) |  |  | $ | (125) |  |  | $ | 108 |
Net actuarial gain (loss) | (14,189) |  |  | (15,612) |  |  | (382) |  |  | (350) |
Weighted-Average Assumptions Used in Computing Benefit Obligations | The weighted-average assumptions used in computing the benefit obligations above were as follows:
| Pension Benefits |  | Other Benefits
| 2021 |  | 2020 |  | 2021 |  | 2020
Discount rate – benefit obligation | 2.42 | % |  | 2.17 | % |  | 2.70 | % |  | 2.30 | %
Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets | Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:
In thousands | 2021 |  | 2020
Projected benefit obligation | $ | 44,885 |  |  | $ | 47,333 |
Accumulated benefit obligation | 44,885 |  |  | 47,333 |
Fair value of plan assets | — |  |  | — |
Schedule of Net Periodic Benefit (Income) Expense of Pension and Other Benefits | Net periodic benefit (income) expense includes the following components:
| Year Ended December 31,
In thousands | 2021 |  | 2020 |  | 2019
Pension Benefits |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 1,269 |
Interest cost | 974 |  |  | 1,210 |  |  | 11,495 |
Expected return on plan assets | — |  |  | — |  |  | (13,724) |
Amortization of prior service cost | 48 |  |  | 48 |  |  | 246 |
Amortization of actuarial loss | 790 |  |  | 655 |  |  | 2,759 |
Termination benefits | — |  |  | — |  |  | 1,259 |
One-time settlement charge | — |  |  | — |  |  | 75,356 |
Total net periodic benefit expense | $ | 1,812 |  |  | $ | 1,913 |  |  | $ | 78,660 |
Other Benefits |  |  |  |  |
Service cost | $ | 29 |  |  | $ | — |  |  | $ | — |
Interest cost | 127 |  |  | 184 |  |  | 313 |
Amortization of prior service credit | (233) |  |  | (458) |  |  | — |
Amortization of actuarial loss (gain) | 47 |  |  | (834) |  |  | (892) |
Total net periodic benefit income | $ | (30) |  |  | $ | (1,108) |  |  | $ | (579) |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) were as follows:
| Year Ended December 31,
In thousands | 2021 |  | 2020
Pension Benefits |  |  |
Actuarial (gain) loss | $ | (203) |  |  | $ | 1,750 |
Recognized prior service costs | (48) |  |  | (48) |
Recognized actuarial losses | (790) |  |  | (655) |
Total recognized in other comprehensive (income) loss | (1,041) |  |  | 1,047 |
Total recognized in net periodic benefit cost and other comprehensive loss | $ | 771 |  |  | $ | 2,960 |
Other Benefits |  |  |
Actuarial loss | $ | 79 |  |  | $ | 883 |
Amortization of actuarial gain (loss) | (47) |  |  | 834 |
Total recognized in other comprehensive loss | 32 |  |  | 1,717 |
Total recognized in net periodic benefit cost and other comprehensive loss | $ | 2 |  |  | $ | 609 |
Schedule of Defined Benefit Plan Weighted-Average Assumptions Used in Computing Net Periodic Benefit Expense | The weighted-average assumptions used in computing the net periodic benefit expense information above were as follows:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Pension Benefits |  |  |  |  |
Discount rate – benefit expense | 2.17 | % |  | 2.70 | % |  | 4.34 | %
Future compensation growth rate | — |  |  | — |  |  | 2.50 | %
Expected long-term rate of return on plan assets | — |  |  | — |  |  | 4.50 | %
Other Benefits |  |  |  |  |
Discount rate – benefit expense | 2.30 | % |  | 3.11 | % |  | 4.19 | %
Schedule of Health Care Cost Trend Rates Used in Calculating Benefit Obligations | Assumed health care cost trend rates used to determine benefit obligations at December 31 were as follows:
| 2021 |  | 2020
Health care cost trend rate assumed for next year | 5.30 | % |  | 5.30 | %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 4.50 | % |  | 4.50 | %
Year that the rate reaches the ultimate rate | 2037 |  | 2037
Summary of Benefit Payments Expected to be Made under Non-Qualified Pension Plans and Other Benefit Plans | Cash Flow Benefit payments expected to be made under our non-qualified pension plans and other benefit plans are summarized below:
In thousands | Pension Benefits |  | Other Benefits
2022 | $ | 2,096 |  |  | $ | 852 |
2023 | 2,057 |  |  | 582 |
2024 | 2,013 |  |  | 468 |
2025 | 1,968 |  |  | 436 |
2026 | 1,909 |  |  | 427 |
2027 through 2031 | 17,208 |  |  | 1,471 |

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