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Pensions and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Reconciliation of the Benefit Obligation, Plan Assets, and Funded Status to Benefit Plans

The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to pension and other postretirement benefit plans (in thousands):

	December 31, 2018								December 31, 2017
	Pension Plans				OPEB Plans				Pension Plans				OPEB Plans
Change in benefit obligation:
Benefit obligation at beginning of year	$	28,617			$	4,726			$	25,187			$	3,833
Service cost (adjusted for actual employee contributions)	477				108				513				96
Interest cost	686				152				674				142
Contributions by participants	21								35				—
Actuarial (gains) losses	(1,568		)		(97		)		673				900
Benefits paid	(1,042		)		(244		)		(564		)		(245		)
Curtailments and settlements	(3,362		)		—				—				—
Plan amendments and other	1,107				—				—				—
Currency translation	(1,014		)		—				2,099				—
Benefit obligation at end of year	$	23,922			$	4,645			$	28,617			$	4,726
Change in plan assets:
Fair value of plan assets at beginning of year	$	17,454			$	—			$	14,553			$	—
Actual return on plan assets	(343		)		—				957				—
Company contributions	1,495				244				1,013				245
Contributions by participants	21				—				35				—
Benefits paid	(1,042		)		(244		)		(564		)		(245		)
Curtailments and settlements	(2,429		)		—				—				—
Plan amendments and other	202				—				—				—
Currency translation	(857		)		—				1,460				—
Fair value of plan assets at end of year	$	14,501			$	—			$	17,454			$	—
Funded status at end of year	$	(9,421	)		$	(4,645	)		$	(11,163	)		$	(4,726	)

Amounts Recognized in the Consolidated Balance Sheet Pretax Amounts

Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):

	December 31, 2018								December 31, 2017
	Pension Plans				OPEB Plans				Pension Plans				OPEB Plans
Accrued pension and other postretirement costs	$	(9,421	)		$	(4,645	)		$	(11,163	)		$	(4,726	)

Actuarial Items

Actuarial items consist of the following (in thousands):

	December 31, 2018								December 31, 2017
	Pension Plans				OPEB Plans				Pension Plans				OPEB Plans
Unrecognized net actuarial loss	$	5,237			$	2,095			$	8,169			$	2,370
Unrecognized prior service cost	9				—				2				—
Unamortized transition obligation	2				—				3				—
	$	5,248			$	2,095			$	8,174			$	2,370

Additional Information Regarding Projected and Accumulated Benefit Obligations for the Pension Plans

The following table sets forth additional information regarding the projected and accumulated benefit obligations for the pension plans (in thousands):

	December 31,
	2018				2017
Accumulated benefit obligation, all plans	$	23,040			$	26,907
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation	$	22,552			$	27,317
Accumulated benefit obligation	22,155				26,074
Fair value of plan assets	13,256				16,274

Components of Net Periodic Costs of Benefit Plans

The following table sets forth the components of net periodic cost of pension and other postretirement benefit plans (in thousands):

	Years ended December 31,
	2018								2017								2016
	Pension Plans				OPEB Plans				Pension Plans				OPEB Plans				Pension Plans				OPEB Plans
Annual service cost	$	498			$	108			$	548			$	96			$	445			$	100
Less: employee contributions	21				—				35				—				42				—
Net service cost	477				108				513				96				403				100
Interest cost	686				152				674				142				784				130
Expected return on plan assets	(549		)		—				(536		)		—				(630		)		—
Amortization of actuarial losses	507				177				463				119				192				75
Amortization of transition obligation	1				—				1				—				5				—
Curtailment and settlement losses	708				—				—				—				—				—
Net periodic benefit cost	$	1,830			$	437			$	1,115			$	357			$	754			$	305

Weighted-average Assumptions Used for Benefit Obligations and Net Periodic Pension Costs

The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:

	2018						2017
	Pension Plans			OPEB Plans			Pension Plans			OPEB Plans
Discount rate	2.61	%		3.99	%		2.42	%		3.33	%
Rate of compensation increase	3.08	%		N/A			2.66	%		N/A
Expected return on plan assets	2.70	%		N/A			3.46	%		N/A

The following weighted-average assumptions were used to determine the net periodic pension costs for the years ended December 31, 2018 and 2017:

	2018						2017
	Pension Plans			OPEB Plans			Pension Plans			OPEB Plans
Discount rate	2.42	%		3.33	%		2.59	%		3.77	%
Rate of compensation increase	2.66	%		N/A			2.63	%		N/A
Expected return on plan assets	3.46	%		N/A			4.49	%		N/A
Health care trend rate	N/A			17.25	%		N/A			6.36	%

Composition of Plan Assets

Plan assets are comprised of:

	December 31, 2018					December 31, 2017
	Pension Plans			OPEB Plans		Pension Plans			OPEB Plans
Equity securities	50	%		—		53	%		—
Fixed income securities	37	%		—		38	%		—
Cash and cash equivalents	13	%		—		9	%		—
Total	100	%		—		100	%		—

Changes in Fair Value of Plan Assets for Each Hierarchy Level

A summary of the Company’s pension plan assets for each fair value hierarchy level are as follows for the periods presented (see Note 15 for further description of the levels within the fair value hierarchy (in thousands)):

As of December 31, 2018					Fair value measurements at reporting date using:
	Total Fair Value				Level 1 Inputs				Level 2 Inputs				Level 3 Inputs
Defined benefit pension plan assets
Equity securities	$	7,221			$	7,221			$	—			$	—
Fixed income securities	5,309				5,309				—				—
Cash and cash equivalents	1,971				1,971				—				—
	$	14,501			$	14,501			$	—			$	—

As of December 31, 2017					Fair value measurements at reporting date using:
	Total Fair Value				Level 1 Inputs				Level 2 Inputs				Level 3 Inputs
Defined benefit pension plan assets
Equity securities	$	9,271			$	9,271			$	—			$	—
Fixed income securities	6,629				6,629				—				—
Cash and cash equivalents	1,554				1,554				—				—
	$	17,454			$	17,454			$	—			$	—

Estimated future Benefit Payments

Estimated future benefit payments are as follows (in thousands):

	Pension Plans				OPEB Plans
2019	$	757			$	272
2020	572				345
2021	673				434
2022	662				418
2023	1,048				336
2024 - 2027	4,142				1,704

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