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Retirement Plans And Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits, Description [Abstract]

Components Of Consolidated Net Pension Costs Retirement Plans

The components of our consolidated net pension costs are set forth in the following table:

			For the Year Ended December 31,
			2021												2020												2019
			U.S.						Foreign						U.S.						Foreign						U.S.						Foreign
			(Dollars in thousands)
Service cost			$	1,328					$	1,349					$	1,322					$	1,183					$	1,297					$	624
Interest cost			2,962						111						3,949						174						5,070						275
Expected return on assets			(4,213)						(545)						(4,730)						(401)						(5,026)						(424)
Mark-to-market (gain) loss			(2,428)						(1,327)						613						2,596						205						3,302
Pension (benefits) costs			$	(2,351)					$	(412)					$	1,154					$	3,552					$	1,546					$	3,777

Reconciliation Of Pension Plans' Benefit Obligations, Fair Value Of Assets Retirement Plans

The reconciliation of the beginning and ending balances of our pension plans’ benefit obligations, fair value of assets, and funded status at December 31, 2021 and 2020 are:

			As of December 31, 2021												As of December 31, 2020
			U.S.						Foreign						U.S.						Foreign
			(Dollars in thousands)
Changes in Benefit Obligation:
Net benefit obligation at beginning of period			$	140,254					$	38,716					$	135,810					$	28,903
Service cost			1,328						1,349						1,322						1,183
Interest cost			2,962						111						3,949						174
Participant contributions			—						580						—						470
Foreign currency exchange changes			—						(1,318)						—						2,869
Actuarial (gain) loss			(4,316)						(1,104)						9,583						2,683
Benefits paid*			(10,322)						237						(10,410)						2,434
Net benefit obligation at end of period			$	129,906					$	38,571					$	140,254					$	38,716
Changes in Plan Assets:
Fair value of plan assets at beginning of period			$	115,568					$	25,082					$	107,832					$	18,980
Actual return on plan assets			2,325						799						13,700						488
Foreign currency exchange rate changes			—						(746)						—						1,893
Employer contributions			2,390						961						4,446						817
Participant contributions			—						580						—						470
Benefits paid*			(10,322)						237						(10,410)						2,434
Fair value of plan assets at end of period			$	109,961					$	26,913					$	115,568					$	25,082
Funded status (underfunded):			$	(19,945)					$	(11,658)					$	(24,686)					$	(13,634)
Amounts recognized in the statement   of financial position:
Non-current assets			$	—					$	—					$	—					$	13
Current liabilities			(420)						(44)						(423)						(50)
Non-current liabilities			(19,525)						(11,614)						(24,263)						(13,597)
Net amount recognized			$	(19,945)					$	(11,658)					$	(24,686)					$	(13,634)

Assumptions Used To Determine Net Pension Costs And Projected Benefit Obligations

Assumptions used to determine net pension costs and projected benefit obligations are:

Pension Benefit Obligations Key Assumptions			As of December 31,
			2021						2020
Weighted average assumptions to determine benefit obligations:
Discount rate			2.14		%				1.78		%
Rate of compensation increase			1.46		%				1.46		%

Pension Cost Key Assumptions
Weighted average assumptions to determine net cost:
Discount rate			1.78		%				2.59		%
Expected return on plan assets			3.48		%				4.14		%
Rate of compensation increase			1.46		%				1.50		%

Retirement Plan Weighted Average Asset Allocations

The following table presents our retirement plan weighted average asset allocations at December 31, 2021, by asset category:

			Percentage of Plan Assets as of December 31, 2021
			U.S.						Foreign
Equity securities and return seeking assets			20		%				—		%
Fixed income, debt securities, or cash			80		%				100		%
Total			100		%				100		%

Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets

Information for our pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2020 and 2021 follows:

			2021												2020
			U.S.						Foreign						U.S.						Foreign
			(Dollars in thousands)
Accumulated benefit obligation			$	129,906					$	35,247					$	140,254					$	35,316
Fair value of plan assets			109,961						26,003						115,568						24,118

Pension Plans With Projected Benefit Obligation In Excess Of Plan Assets

Information for our pension plans with a projected benefit obligation in excess of plan assets at December 31, 2021 and 2020 follows:

			2021												2020
			U.S.						Foreign						U.S.						Foreign
			(Dollars in thousands)
Projected benefit obligation			$	129,906					$	37,412					$	140,254					$	37,734
Fair value of plan assets			109,961						26,003						115,568						24,118

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table presents the changes for those financial instruments classified within Level 3 of the valuation hierarchy for international plan pension assets for the years ended December 31, 2020 and 2021 (dollars in thousands):

			Fixed Insurance Contracts
Balance at December 31, 2019			$	17,985
Gain / contributions / currency impact			6,149
Distributions			(16)
Balance at December 31, 2020			24,118
Gain / contributions / currency impact			1,900
Distributions			(15)
Balance at December 31, 2021			$	26,003

Schedule of Allocation of Plan Assets

The fair value of other plan assets by category is summarized below (dollars in thousands):

			As of December 31, 2021
			Level 1						Level 2						Level 3						Total
U.S. Plan Assets
Cash and cash equivalents			$	715					$	—					$	—					$	715
International Plan Assets
Foreign government bonds			—						910						—						910
Fixed insurance contracts			—						—						26,003						26,003
Total assets in the fair value hierarchy			$	—					$	910					$	26,003					$	26,913
U.S. Plan - Investments measured at net asset value																					$	109,246
Total			$	715					$	910					$	26,003					$	136,874
			As of December 31, 2020
			Level 1						Level 2						Level 3						Total
U.S. Plan Assets
Cash and cash equivalents			$	1,850					$	—					$	—					$	1,850
International Plan Assets
Foreign government bonds			$	—					$	995					$	—					$	995
Fixed insurance contracts			—						—						24,087						24,087
Total assets in the fair value hierarchy			$	—					$	995					$	24,087					$	25,082
U.S. Plan - Investments measured at net asset value																					$	113,718
Total			$	1,850					$	995					$	24,087					$	140,650

Schedule of Expected Benefit Payments

Following is our projected future pension plan cash flow by year:

			U.S.						Foreign
			(Dollars in thousands)
Expected contributions in 2022:
Expected employer contributions			$	420					$	958
Expected employee contributions			—						—
Estimated future benefit payments reflecting expected future service for the years ending December 31:
2022			9,224						1,352
2023			9,186						1,503
2024			9,067						2,916
2025			9,015						1,581
2026			8,914						2,663
2027-2031			40,997						12,312

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