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Retirement Plans And Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2022

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:

			Year Ended December 31,
			2022												2021												2020
			U.S.						Foreign						U.S.						Foreign						U.S.						Foreign
			(Dollars in thousands)
Service cost			$	1,390					$	1,220					$	1,328					$	1,349					$	1,322					$	1,183
Interest cost			3,242						227						2,962						111						3,949						174
Expected return on assets			(3,960)						(640)						(4,213)						(545)						(4,730)						(401)
Mark-to-market (gain) loss			(181)						(7,801)						(2,428)						(1,327)						613						2,596
Net periodic benefit (credit) cost			$	491					$	(6,994)					$	(2,351)					$	(412)					$	1,154					$	3,552

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, 2022 and 2021 are shown below.

			December 31, 2022												December 31, 2021
			U.S.						Foreign						U.S.						Foreign
			(Dollars in thousands)
Changes in Benefit Obligation:
Net benefit obligation at beginning of period			$	129,906					$	38,571					$	140,254					$	38,716
Service cost			1,390						1,220						1,328						1,349
Interest cost			3,242						227						2,962						111
Participant contributions			—						557						—						580
Foreign currency exchange changes			—						(660)						—						(1,318)
Actuarial gain			(24,202)						(7,293)						(4,316)						(1,104)
Benefits paid			(10,343)						(1,557)						(10,322)						237
Net benefit obligation at end of period			$	99,993					$	31,065					$	129,906					$	38,571
Changes in Plan Assets:
Fair value of plan assets at beginning of period			$	109,961					$	26,913					$	115,568					$	25,082
Actual return on plan assets			(20,061)						1,148						2,325						799
Foreign currency exchange rate changes			—						(325)						—						(746)
Employer contributions			449						972						2,390						961
Participant contributions			—						557						—						580
Benefits paid			(10,343)						(1,557)						(10,322)						237
Fair value of plan assets at end of period			$	80,006					$	27,708					$	109,961					$	26,913
Funded status (underfunded):			$	(19,987)					$	(3,357)					$	(19,945)					$	(11,658)
Amounts recognized in the statement   of financial position:
Other accrued liabilities			$	(409)					$	(167)					$	(420)					$	(44)
Other long-term obligations			(19,578)						(3,190)						(19,525)						(11,614)
Net amount recognized			$	(19,987)					$	(3,357)					$	(19,945)					$	(11,658)

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			December 31,
			2022						2021
Weighted average assumptions to determine benefit obligations:
Discount rate			4.43		%				2.14		%
Rate of compensation increase			1.71		%				1.46		%

Pension Cost Key Assumptions
Weighted average assumptions to determine net cost:
Discount rate			2.14		%				1.78		%
Expected return on plan assets			3.50		%				3.48		%
Rate of compensation increase			1.46		%				1.46		%

Retirement Plan Weighted Average Asset Allocations

The following table presents our retirement plan weighted average asset allocations at December 31, 2022, by asset category:

			Percentage of Plan Assets  December 31, 2022
			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, 2022 and 2021 follows:

			2022												2021
			U.S.						Foreign						U.S.						Foreign
			(Dollars in thousands)
Accumulated benefit obligation			$	99,993					$	1,884					$	129,906					$	35,247
Fair value of plan assets			80,006						—						109,961						26,003

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, 2022 and 2021 follows:

			2022												2021
			U.S.						Foreign						U.S.						Foreign
			(Dollars in thousands)
Projected benefit obligation			$	99,993					$	31,065					$	129,906					$	37,412
Fair value of plan assets			80,006						27,708						109,961						26,003

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, 2022 and 2021 (dollars in thousands):

			Fixed Insurance Contracts
Balance at December 31, 2020			$	24,118
Gain / contributions / currency impact			1,900
Distributions			(15)
Balance at December 31, 2021			26,003
Gain / contributions / currency impact			864
Distributions			(182)
Balance at December 31, 2022			$	26,685

Schedule of Allocation of Plan Assets

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

			December 31, 2022
			Level 1						Level 2						Level 3						Total
U.S. Plan Assets
Cash and cash equivalents			$	706					$	—					$	—					$	706
International Plan Assets
Foreign government bonds			—						1,023						—						1,023
Fixed insurance contracts			—						—						26,685						26,685
Total international plan assets			$	—					$	1,023					$	26,685					$	27,708
U.S. Plan - Investments measured at net asset value																					$	79,300
Total			$	706					$	1,023					$	26,685					$	107,714
			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 international plan assets			$	—					$	910					$	26,003					$	26,913
U.S. Plan - Investments measured at net asset value																					$	109,246
Total			$	715					$	910					$	26,003					$	136,874

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 2023:
Expected employer contributions			$	409					$	986
Expected employee contributions			—						—
Estimated future benefit payments reflecting expected future service for the years ending December 31:
2023			$	9,136					$	1,430
2024			9,009						2,912
2025			8,936						1,519
2026			8,836						2,648
2027			8,608						1,842
Next five years			38,940						12,201

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