NewMarket (NEU) 10-K 18 Feb 20 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Jan. 31, 2020	Jun. 28, 2019
Cover page.
Document Type	10-K
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--12-31
Entity File Number	1-32190
Entity Registrant Name	NEWMARKET CORPORATION
Entity Central Index Key	0001282637
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	20-0812170
Entity Address, Address Line One	330 South Fourth Street
Entity Address, City or Town	Richmond
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23219-4350
City Area Code	804
Local Phone Number	788-5000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	NEU
Security Exchange Name	NYSE
Entity Public Float			$ 3,221,673,182
Entity Common Stock, Shares Outstanding		11,188,173
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE Portions of NewMarket Corporation’s definitive Proxy Statement for its 2020 Annual Meeting of Shareholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A under the Securities Exchange Act of 1934 are incorporated by reference into Part III of this Annual Report on Form 10-K.

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net sales	$ 2,190,295	$ 2,289,675	$ 2,198,404
Cost of goods sold	1,560,426	1,704,312	1,562,017
Gross profit	629,869	585,363	636,387
Selling, general, and administrative expenses	148,083	152,400	167,651
Research, development, and testing expenses	144,465	140,289	146,002
Operating profit	337,321	292,674	322,734
Interest and financing expenses, net	29,241	26,723	21,856
Other income (expense), net	23,510	24,334	14,564
Income before income tax expense	331,590	290,285	315,442
Income tax expense	77,304	55,551	124,933
Net income	$ 254,286	$ 234,734	$ 190,509
Earnings per share - basic and diluted	$ 22.73	$ 20.34	$ 16.08

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 254,286	$ 234,734	$ 190,509
Pension plans and other postretirement benefits:
Prior service credit (cost) arising during the period, net of income tax expense (benefit) of $(257) in 2019 and $(91) in 2018	(756)	(446)	0
Amortization of prior service cost (credit) included in net periodic benefit cost (income), net of income tax expense (benefit) of $(681) in 2019, $(720) in 2018 and $(1,127) in 2017	(2,211)	(2,363)	(1,955)
Actuarial net gain (loss) arising during the period, net of income tax expense (benefit) of $5,952 in 2019, $(6,976) in 2018 and $2,814 in 2017	16,739	(24,581)	10,966
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), net of income tax expense (benefit) of $901 in 2019, $1,381 in 2018 and $2,028 in 2017	2,988	4,355	3,656
Total pension plans and other postretirement benefits	16,760	(23,035)	12,667
Foreign currency translation adjustments, net of income tax expense (benefit) of $(181) in 2019, $(535)in 2018 and $703 in 2017	1,808	(12,287)	23,849
Other comprehensive income (loss)	18,568	(35,322)	36,516
Comprehensive income	$ 272,854	$ 199,412	$ 227,025

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Prior service credit (cost) arising during the period, income tax expense (benefit)	$ (257)	$ (91)
Amortization of prior service cost (credit) included in net periodic benefit cost (income), income tax expense (benefit)	(681)	(720)	(1,127)
Actuarial net gain (loss) arising during the period, income tax expense (benefit)	5,954	(6,976)	2,814
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), income tax expense (benefit)	901	1,381	2,028
Foreign currency translation adjustments, income tax expense (benefit)	$ (181)	$ (535)	$ 703

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 144,397	$ 73,040
Trade and other accounts receivable, net	335,826	314,860
Inventories	365,938	396,341
Prepaid expenses and other current assets	33,237	29,179
Total current assets	879,398	813,420
Property, plant, and equipment, net	635,439	644,138
Intangibles (net of amortization) and goodwill	131,880	136,039
Prepaid pension cost	133,848	88,705
Operating lease right-of-use assets	60,505	0
Deferred Income Tax Assets, Net	6,327	5,094
Deferred charges and other assets	37,735	9,878
Total assets	1,885,132	1,697,274
Current liabilities:
Accounts payable	178,773	151,631
Accrued expenses	77,350	91,202
Dividends payable	19,217	17,923
Income taxes payable	10,632	6,431
Operating lease liabilities	14,036	0
Other current liabilities	8,887	4,114
Total current liabilities	308,895	271,301
Long-term debt	642,941	770,999
Operating lease liabilities - noncurrent	46,792	0
Other noncurrent liabilities	203,406	165,067
Total liabilities	1,202,034	1,207,367
Commitments and contingencies (Note 20)
Shareholders’ equity:
Common stock and paid-in capital (without par value; authorized shares - 80,000,000; issued and outstanding - 11,188,549 at December 31, 2019 and 11,184,482 at December 31, 2018)	1,965	0
Accumulated other comprehensive loss	(162,748)	(181,316)
Retained earnings	843,881	671,223
Total shareholders' equity	683,098	489,907
Total liabilities and shareholders' equity	$ 1,885,132	$ 1,697,274

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, no par value
Common stock, authorized shares	80,000,000	80,000,000
Common stock, issued shares	11,188,549	11,184,482
Common stock, outstanding shares	11,188,549	11,184,482

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock and Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]
Balance (in shares) at Dec. 31, 2016		11,845,972
Balance at Dec. 31, 2016	$ 483,251	$ 1,603	$ (182,510)	$ 664,158
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	190,509			190,509
Other comprehensive income (loss)	36,516		36,516
Cash dividends	(82,885)			(82,885)
Repurchases of common stock (in shares)		(70,689)
Repurchases of common stock	(27,757)	$ (3,607)		(24,150)
Tax withholdings related to stock-based compensation (in shares)		(2,328)
Tax withholdings related to stock-based compensation	(915)	$ (915)
Stock-based compensation (in shares)		7,023
Stock-based compensation	2,930	$ 2,919		11
Balance (in shares) at Dec. 31, 2017		11,779,978
Balance at Dec. 31, 2017	601,649	$ 0	(145,994)	747,643
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	234,734			234,734
Other comprehensive income (loss)	(35,322)		(35,322)
Cash dividends	(80,448)			(80,448)
Repurchases of common stock (in shares)		(603,449)
Repurchases of common stock	(232,016)	$ (2,038)		(229,978)
Tax withholdings related to stock-based compensation (in shares)		(2,055)
Tax withholdings related to stock-based compensation	(740)			(740)
Stock-based compensation (in shares)		10,008
Stock-based compensation	$ 2,050	$ 2,038		12
Balance (in shares) at Dec. 31, 2018	11,184,482	11,184,482
Balance at Dec. 31, 2018	$ 489,907	$ 0	(181,316)	671,223
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	254,286			254,286
Other comprehensive income (loss)	18,568		18,568
Cash dividends	(81,676)			(81,676)
Tax withholdings related to stock-based compensation (in shares)		(603)
Tax withholdings related to stock-based compensation	(304)	$ (304)
Stock-based compensation (in shares)		4,670
Stock-based compensation	$ 2,317	$ 2,269		48
Balance (in shares) at Dec. 31, 2019	11,188,549	11,188,549
Balance at Dec. 31, 2019	$ 683,098	$ 1,965	$ (162,748)	$ 843,881

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 7.30	$ 7	$ 7

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 73,040	$ 84,166	$ 192,154
Cash flows from operating activities:
Net income	254,286	234,734	190,509
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	87,560	71,759	55,340
Deferred income tax expense	7,384	14,527	27,375
Tax Reform Act expense	0	0	31,375
Change in assets and liabilities:
Trade and other accounts receivable, net	(22,587)	14,096	250
Inventories	31,884	(29,672)	(44,936)
Prepaid expenses and other current assets	(2,742)	702	(2,715)
Accounts payable and accrued expenses	8,859	(19,638)	17,955
Operating lease liabilities	(16,496)	0	0
Other current liabilities	1,866	(10,169)	1,595
Income taxes payable	3,979	(9,731)	(8,475)
Cash pension and postretirement contributions	(9,932)	(64,756)	(26,264)
Other, net	(6,849)	(3,941)	786
Cash provided from (used in) operating activities	337,212	197,911	242,795
Cash flows from investing activities:
Capital expenditures	(59,434)	(74,638)	(148,713)
Acquisition of business (net of $1,131 cash acquired)	0	0	(183,930)
Other, net	0	14,607	(2,000)
Cash provided from (used in) investing activities	(59,434)	(60,031)	(334,643)
Cash flows from financing activities:
Net (repayments) borrowings under revolving credit facility	(123,451)	168,129	(156,000)
Issuance of 3.78% senior notes	0	0	250,000
Dividends paid	(81,676)	(80,448)	(82,885)
Repurchases of common stock	0	(232,016)	(25,998)
Other, net	(2,952)	(1,092)	(4,093)
Cash provided from (used in) financing activities	(208,079)	(145,427)	(18,976)
Effect of foreign exchange on cash and cash equivalents	1,658	(3,579)	2,836
Increase (decrease) in cash and cash equivalents	71,357	(11,126)	(107,988)
Cash and cash equivalents at end of year	$ 144,397	$ 73,040	$ 84,166

Consolidated Statements Of Ca_2

Consolidated Statements Of Cash Flows Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Acquired from Acquisition	$ 0	$ 0	$ 1,131
3.78% Senior Notes [Member]
Senior notes, interest rate	3.78%	3.78%	3.78%

Net Sales

Net Sales	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Net Sales On January 1, 2018, we adopted Accounting Standards Codification 606 (ASC 606), "Revenue from Contracts with Customers" using the modified retrospective method and applying the standard only to uncompleted contracts at the date of adoption. The impact of adopting ASC 606 did not result in a change to income, and therefore we did not reflect a cumulative effect to the opening balance of retained earnings due to the adoption of ASC 606. The comparative period of 2018 has been presented using this standard, while 2017 is reported under the accounting standard in effect at that time. Our revenues are primarily derived from the manufacture and sale of petroleum additives products. We sell petroleum additives products across the world including to customers located in the North America, Latin America, Asia Pacific, and EMEAI regions. Our customers primarily consist of global, national, and independent oil companies. While some of our customers have payment terms beyond 30 days, we do not provide extended payment terms of a year or more, nor do our contracts include a financing component. Our allowance for doubtful accounts is immaterial, as are any bad debts we incur. In limited cases, we collect funds in advance of shipping product to our customers and recognizing the related revenue. These prepayments from customers are recorded as a contract liability to our customer until we recognize the revenue. Prepayments from our customers totaled $1 million in December 31, 2019 and $1 million in December 31, 2018 . Revenue recognized from funds collected in advance from customers in an earlier period was $1 million in 2019 and $3 million in December 31, 2018 . We recognize revenue when control of the product is transferred to our customer and for an amount that reflects the consideration we expect to collect from the customer. Control is generally transferred to the customer when title transfers (which may include physical possession by the customer), we have a right to payment from the customer, the customer has accepted the product, and the customer has assumed the risks and rewards of ownership. We have supplier managed inventory arrangements with some of our customers to facilitate on-demand product availability. In some cases, the inventory resides at a customer site, although title has not transferred, we are not entitled to payment, and we have not invoiced for the product. We have evaluated the contract terms under these arrangements and have determined that control transfers when the customer uses the product, at which time revenue is recognized. Our contracts generally include one performance obligation, which is providing petroleum additives products. The performance obligation is satisfied at a point in time when products are shipped, delivered, or consumed by the customer, depending on the underlying contracts. Taxes assessed by a governmental authority which are concurrent with sales to our customers, including sales, use, value-added, and revenue-related excise taxes, are collected by us from the customer and are not included in net sales, but are reflected in accrued expenses until remitted to the appropriate governmental authority. When we are responsible for shipping and handling costs after title has transferred, we account for those as fulfillment costs and include them in cost of goods sold. Some of our contracts include variable consideration in the form of rebates or business development funds. We record rebates at the point of sale as contra-revenue when we can reasonably estimate the amount of the rebate. The estimates are based on our best judgment at the time of sale, which includes anticipated as well as historical performance. Depending upon the specific terms of a business development fund, amounts are accrued as contra-revenue at the point of sale or are expensed when costs are incurred by us. We regularly review both rebates and business development funds and make adjustments when necessary, recognizing the full amount of any adjustment in the period identified. We recognized an increase to net sales of $1 million for 2019 and $3 million for 2018 related to adjustments to rebates or business development funds which were recognized in revenue in a prior period. At December 31, 2019 , accrued rebates were $23 million and accrued business development funds were $2 million . At December 31, 2018 , accrued rebates were $25 million and accrued business developments funds were $2 million . The following table provides information on our net sales by geographic area. Information on net sales by segment is in Note 4. Twelve Months Ended (in thousands) 2019 2018 Net sales United States $ 728,125 $ 722,576 China 225,498 239,406 Europe, Middle East, Africa, India 700,081 756,258 Asia Pacific, except China 311,469 335,119 Other foreign 225,122 236,316 Net sales $ 2,190,295 $ 2,289,675

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Consolidation —Our consolidated financial statements include the accounts of NewMarket Corporation and its subsidiaries. All intercompany transactions are eliminated upon consolidation. References to "we," "us," "our," the "company," and "NewMarket" are to NewMarket Corporation and its consolidated subsidiaries, unless the context indicates otherwise. NewMarket is the parent company of three operating companies, each managing its own assets and liabilities. Those companies are Afton, which focuses on petroleum additive products; Ethyl, representing certain contracted manufacturing and services, as well as the antiknock compounds business; and NewMarket Development, which manages the property and improvements that we own in Virginia. NewMarket is also the parent company of NewMarket Services, which provides various administrative services to NewMarket, Afton, Ethyl, and NewMarket Development. Certain reclassifications have been made to the accompanying consolidated financial statements and the related notes to conform to the current presentation. Foreign Currency Translation —We translate the balance sheets of our foreign subsidiaries into U.S. Dollars based on the current exchange rate at the end of each period. We translate the statements of income using the weighted-average exchange rates for the period. NewMarket includes translation adjustments in the Consolidated Balance Sheets as part of accumulated other comprehensive loss and transaction adjustments in the Consolidated Statements of Income as part of cost of goods sold. Foreign currency transaction adjustments resulted in a net loss of $4 million in 2019 , a net loss of $8 million in 2018 , and a net gain of $5 million 2017 . Revenue Recognition —We recognize revenue when control of the product is transferred to our customer and for an amount that reflects the consideration we expect to collect from the customer. Net sales (revenues) are reported at the gross amount billed, including amounts related to shipping that are charged to the customer. Provisions for rebates to customers are recorded in the same period that the related sales are recorded. Freight costs incurred on the delivery of products are included in the Consolidated Statements of Income in cost of goods sold. Our standard terms of delivery are included in our contracts, sales order confirmation documents, and invoices. Taxes assessed by a governmental authority concurrent with sales to our customers, including sales, use, value-added, and revenue-related excise taxes, are not included as net sales, but are reflected in accrued expenses until remitted to the appropriate governmental authority. Cash and Cash Equivalents —Our cash equivalents consist of government obligations and commercial paper with original maturities of 90 days or less. Throughout the year, we have cash balances in excess of federally insured amounts on deposit with various financial institutions. We state cash and cash equivalents at cost, which approximates fair value. Accounts Receivable —We record our accounts receivable at net realizable value. We maintain an allowance for doubtful accounts for estimated losses resulting from our customers not making required payments. We determine the adequacy of the allowance by periodically evaluating each customer’s receivable balance, considering their financial condition and credit history, and considering current economic conditions. The allowance for doubtful accounts was not material at December 31, 2019 or December 31, 2018 . Inventories —NewMarket values its inventories at the lower of cost or net realizable value. In the United States, cost is determined on the last-in, first-out (LIFO) basis. In all other countries, we determine cost using a weighted-average method. Inventory cost includes raw materials, direct labor, and manufacturing overhead. Property, Plant, and Equipment —We state property, plant, and equipment at cost and compute depreciation by the straight-line method based on the estimated useful lives of the assets. We capitalize expenditures for significant improvements that extend the useful life of the related property. We expense repairs and maintenance, including plant turnaround costs, as incurred. When property is sold or retired, we remove the cost and accumulated depreciation from the accounts and any related gain or loss is included in earnings. Intangibles (Net of Amortization) and Goodwill —Identifiable intangibles include the cost of acquired contracts, formulas and technology, trademarks and trade names, and customer bases. We assign a value to identifiable intangibles based on independent third-party appraisals and management's assessment at the time of acquisition. NewMarket amortizes the cost of the customer bases by an accelerated method and the cost of the remaining identifiable intangibles by the straight-line method over the estimated economic life of the intangible. Goodwill arises from the excess of cost over the net assets of businesses acquired. Goodwill represents the residual purchase price after allocation to all identifiable net assets. We test goodwill for impairment each year, as well as whenever a significant event or circumstance occurs which could reduce the fair value of the reporting unit to which the goodwill applies below the carrying amount of the reporting unit. Impairment of Long-Lived Assets —When significant events or circumstances occur that might impair the value of long-lived assets, we evaluate recoverability of the recorded cost of these assets. Assets are considered to be impaired if their carrying amount is not recoverable from the estimated undiscounted future cash flows associated with the assets. If we determine an asset is impaired and its recorded cost is higher than estimated fair market value based on the estimated present value of future cash flows, we adjust the asset to estimated fair market value. Environmental Costs —NewMarket capitalizes environmental compliance costs if they extend the useful life of the related property or prevent future contamination. Environmental compliance costs also include maintenance and operation of pollution prevention and control facilities. We expense these compliance costs in cost of goods sold as incurred. Accrued environmental remediation and monitoring costs relate to an existing condition caused by past operations. NewMarket accrues these costs in current operations within cost of goods sold in the Consolidated Statements of Income when it is probable that we have incurred a liability and the amount can be reasonably estimated. These estimates are based on an assessment of the site, available clean-up methods, and prior experience in handling remediation. When we can reliably determine the amount and timing of future cash flows, we discount these liabilities, incorporating an inflation factor. Legal Costs —We expense legal costs in the period incurred. Employee Savings Plan —Most of our full-time salaried and hourly employees may participate in defined contribution savings plans. Employees who are covered by collective bargaining agreements may also participate in a savings plan according to the terms of their bargaining agreements. Employees, as well as NewMarket, contribute to the plans. We made contributions of $6 million in 2019 , $6 million in 2018 , and $6 million in 2017 related to these plans. Research, Development, and Testing Expenses —NewMarket expenses all research, development, and testing costs as incurred. R&D costs include personnel-related costs, as well as internal and external testing of our products. Income Taxes —We recognize deferred income taxes for temporary differences between the financial reporting basis and the income tax basis of assets and liabilities. We also adjust for changes in tax rates and laws at the time the changes are enacted. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized. We typically remove a tax impact from accumulated other comprehensive loss when the underlying circumstance which gave rise to the tax impact no longer exists. We recognize accrued interest and penalties associated with uncertain tax positions as part of income tax expense on our Consolidated Statements of Income. Leases —We determine if an arrangement includes a lease at the inception of the agreement. The right-of-use asset and lease liability is determined at the lease commencement date and is based on the present value of estimated lease payments. Our lease agreements contain both fixed and variable lease payments. In some cases, variable lease payments are based on a rate or an index. Fixed lease payments, as well as variable lease payments which are based on a rate or index, are included in the determination of the right-of-use asset and lease liability. Variable lease payments that are not based on a rate or index are expensed when incurred. The present value of estimated lease payments is determined utilizing the rate implicit in the lease agreement, if that rate can be determined. If the implicit rate cannot be determined, the present value of estimated lease payments is determined utilizing our incremental borrowing rate. The incremental borrowing rate is determined at the lease commencement date and is developed utilizing a readily available market interest rate curve adjusted for our credit quality. Some of our leases include an option to renew that can extend the lease term. For those leases which are reasonably certain to be renewed, we include the renewal in the lease term. We do not recognize leases with terms of 12 months or less on the balance sheet for any lease class, except the railcar lease class. For the short-term leases not recorded on the balance sheet, the lease payments are recognized in the consolidated statements of income on a straight-line basis over the lease term. We account for the lease and nonlease components as a single lease component in determining the right-of-use assets and lease liabilities for all lease classes. Derivative Financial Instruments and Hedging Activities —We are exposed to certain risks arising from both our business operations and economic conditions. We manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage certain economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of our debt funding, as well as through the use of derivative financial instruments. We sometimes enter into interest rate swaps to manage our exposure to interest rate movements. In addition, our foreign operations expose us to fluctuations of foreign exchange rates. These fluctuations may impact our results of operations, financial position, and cash flows. To manage this exposure, we sometimes enter into foreign currency forward contracts to minimize currency exposure due to cash flows from foreign operations. We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. We do not enter into derivative instruments for speculative purposes. We had no derivative financial instruments outstanding at December 31, 2019 or December 31, 2018 . Stock-based Compensation —We calculate the fair value of restricted stock and restricted stock units based on the closing price of our common stock on the date of grant. If award recipients are entitled to receive dividends during the vesting period, we make no adjustment to the fair value of the award for dividends. If the award does not entitle recipients to dividends during the vesting period, we reduce the grant-date price of our common stock by the present value of the dividends expected to be paid on the underlying shares during the vesting period, discounted at the risk-free interest rate. We recognize stock-based compensation expense for the number of awards expected to vest on a straight-line basis over the requisite service period. Estimates and Risks Due to Concentration of Business —The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. In addition, our financial results can be influenced by certain risk factors. Some of our significant concentrations of risk include the following: • reliance on a small number of significant customers; • customers concentrated in the fuel and lubricant industries; and • production of several of our products solely at one facility.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	. Earnings Per Share We had 20,441 shares in 2019 , 18,892 shares in 2018 , and 16,708 shares in 2017 of nonvested restricted stock that were excluded from the calculation of diluted earnings per share, as their effect on earnings per share would be anti-dilutive. The nonvested restricted stock is considered a participating security since the restricted stock contains nonforfeitable rights to dividends. As such, we use the two-class method to compute basic and diluted earnings per share for all periods presented. The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share. Years Ended December 31, (in thousands, except per-share amounts) 2019 2018 2017 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 254,286 $ 234,734 $ 190,509 Earnings allocated to participating securities 441 474 356 Net income attributable to common shareholders after allocation of earnings to participating securities $ 253,845 $ 234,260 $ 190,153 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 11,166 11,515 11,824 Earnings per share - basic and diluted $ 22.73 $ 20.34 $ 16.08

Segment and Geographic Area Inf

Segment and Geographic Area Information	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment and Geographic Area Information	Segment and Geographic Area Information Segment Information —The tables below show our consolidated segment results. The “All other” category includes the operations of the antiknock compounds business, as well as certain contracted manufacturing and services associated with Ethyl. The segment accounting policies are the same as those described in Note 1. We evaluate the performance of the petroleum additives business based on segment operating profit. NewMarket Services departments and other expenses are billed to Afton and Ethyl based on the services provided under the holding company structure. Depreciation on segment property, plant, and equipment, as well as amortization of segment intangible assets and lease right-of-use assets for 2019, are included in segment operating profit. No transfers occurred between the petroleum additives segment and the “All other” category during the periods presented. The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the last three years. Years Ended December 31, (in thousands) 2019 2018 2017 Net sales Petroleum additives Lubricant additives $ 1,778,473 $ 1,870,803 $ 1,790,254 Fuel additives 397,431 410,000 397,029 Total 2,175,904 2,280,803 2,187,283 All other 14,391 8,872 11,121 Net sales (a) $ 2,190,295 $ 2,289,675 $ 2,198,404 Segment operating profit Petroleum additives $ 359,228 $ 311,019 $ 345,017 All other (1,562 ) (3,256 ) 4,135 Segment operating profit 357,666 307,763 349,152 Corporate, general, and administrative expenses (20,345 ) (19,651 ) (26,641 ) Interest and financing expenses, net (29,241 ) (26,723 ) (21,856 ) Other income (expense), net 23,510 28,896 14,787 Income before income tax expense $ 331,590 $ 290,285 $ 315,442 (a) No single customer accounted for 10% or more of our total net sales in 2019, 2018, or 2017. The following tables show asset information by segment and the reconciliation to consolidated assets. Segment assets consist of accounts receivable, inventory, and long-lived assets. Long-lived assets included in the petroleum additives segment amounts in the table below include property, plant, and equipment, net of depreciation and intangibles (net of amortization) and goodwill, as well as lease right-of-use assets for 2019. The additions to long-lived assets include only property, plant, and equipment for each year presented and lease right-of-use assets for 2019. December 31, (in thousands) 2019 2018 Segment assets Petroleum additives $ 1,506,690 $ 1,448,737 All other 14,519 12,200 1,521,209 1,460,937 Cash and cash equivalents 144,397 73,040 Other accounts receivable 6,068 1,310 Deferred income taxes 6,327 5,094 Prepaid expenses and other current assets 33,237 29,179 Non-segment property, plant, and equipment, net 34,648 33,134 Prepaid pension cost 133,848 88,705 Lease right-of-use assets 302 0 Deferred charges and other assets 5,096 5,875 Total assets $ 1,885,132 $ 1,697,274 Years Ended December 31, (in thousands) 2019 2018 2017 Additions to long-lived assets Petroleum additives $ 85,711 $ 72,829 $ 196,951 All other 28 0 0 Corporate 3,076 1,809 6,266 Total additions to long-lived assets $ 88,815 $ 74,638 $ 203,217 Depreciation and amortization Petroleum additives $ 84,872 $ 69,029 $ 52,266 All other 52 11 13 Corporate 2,636 2,719 3,061 Total depreciation and amortization $ 87,560 $ 71,759 $ 55,340 Geographic Area Information - We have operations in the North America, Latin America, Asia Pacific, and EMEAI regions. Our foreign customers consist primarily of global, national, and independent oil companies. The tables below report net sales, total assets, and long-lived assets by geographic area, as well as by country for those countries with significant net sales or long-lived assets. Since our foreign operations are significant to our overall business, we are also presenting net sales in the table below by the major regions in which we operate. NewMarket assigns net sales to geographic areas based on the location to which the product was shipped to a third party. Long-lived assets in the table below include property, plant, and equipment, net of depreciation, and lease right-of-use assets for 2019. Years Ended December 31, (in thousands) 2019 2018 2017 Net sales United States $ 728,125 $ 722,576 $ 696,138 China 225,498 239,406 224,409 Europe, Middle East, Africa, India 700,081 756,258 742,337 Asia Pacific, except China 311,469 335,119 293,137 Other foreign 225,122 236,316 242,383 Net sales $ 2,190,295 $ 2,289,675 $ 2,198,404 December 31, (in thousands) 2019 2018 Total assets United States $ 728,571 $ 586,339 Foreign 1,156,561 1,110,935 Total assets $ 1,885,132 $ 1,697,274 Long-lived assets United States $ 275,646 $ 226,191 Singapore 287,276 280,340 Other foreign 145,862 137,607 Total long-lived assets $ 708,784 $ 644,138

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Years Ended December 31, (in thousands) 2019 2018 2017 Cash paid during the year for Interest and financing expenses (net of capitalization) $ 28,523 $ 28,915 $ 20,376 Income taxes 64,899 76,859 59,010 Supplemental disclosure of non-cash transactions: Non-cash additions to property, plant, and equipment $ 6,025 $ 3,076 $ 11,209 Non-cash obligation under capital lease 0 0 1,341

Trade and Other Accounts Receiv

Trade and Other Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Trade and Other Accounts Receivable, Net	Trade and Other Accounts Receivable, Net December 31, (in thousands) 2019 2018 Trade receivables $ 289,737 $ 276,667 Income tax receivables 16,021 12,210 Other 30,068 25,983 $ 335,826 $ 314,860

Inventories

Inventories	12 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories December 31, (in thousands) 2019 2018 Finished goods and work-in-process $ 295,997 $ 319,120 Raw materials 55,702 63,403 Stores, supplies, and other 14,239 13,818 $ 365,938 $ 396,341 Our U.S. finished goods, work-in-process, and raw materials inventories, which are stated on the LIFO basis, amounted to $116 million at December 31, 2019 , which was below replacement cost by approximately $50 million . At December 31, 2018 , LIFO basis inventories were $137 million , which was approximately $56 million below replacement cost. Our foreign inventories amounted to $238 million at December 31, 2019 and $248 million at December 31, 2018 . Reserves for obsolete and slow-moving inventory included in the table above were not material at December 31, 2019 or December 31, 2018 .

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2019
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets December 31, (in thousands) 2019 2018 Dividend funding $ 19,217 $ 17,923 Income taxes on intercompany profit 5,756 6,431 Other 8,264 4,825 $ 33,237 $ 29,179

Property, Plant, and Equipment,

Property, Plant, and Equipment, at Cost	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, at Cost	Property, Plant, and Equipment, at Cost December 31, (in thousands) 2019 2018 Land $ 40,938 $ 39,396 Land improvements 57,635 54,937 Leasehold improvements 2,122 1,968 Buildings 174,600 166,566 Machinery and equipment 1,161,409 1,143,106 Construction in progress 29,228 20,140 1,465,932 1,426,113 Less accumulated depreciation and amortization 830,493 781,975 Net property, plant, and equipment $ 635,439 $ 644,138 We depreciate the cost of property, plant, and equipment by the straight-line method over the following estimated useful lives: Land improvements 9 - 25 years Buildings 10 - 46 years Machinery and equipment 3 - 30 years Depreciation expense was $64 million in 2019 , $63 million in 2018 , and $51 million in 2017

Intangibles (Net of Amortizatio

Intangibles (Net of Amortization) and Goodwill	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles (Net of Amortization) and Goodwill	Intangibles (Net of Amortization) and Goodwill The net carrying amount of intangibles and goodwill was $132 million at December 31, 2019 and $136 million at December 31, 2018 . The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below. December 31, 2019 2018 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizing intangible assets Formulas and technology $ 9,600 $ 5,416 $ 9,600 $ 3,250 Contract 2,000 600 2,000 400 Customer bases 14,240 10,931 14,240 9,091 Goodwill 122,987 122,940 $ 148,827 $ 16,947 $ 148,780 $ 12,741 Aggregate amortization expense $ 4,206 $ 7,413 Aggregate amortization expense was $3 million in 2017 . All of the intangibles relate to the petroleum additives segment. The change in the gross carrying amount between 2018 and 2019 is due to foreign currency fluctuations. There is no accumulated goodwill impairment. Estimated annual amortization expense related to our intangible assets for the next five years is expected to be (in thousands): 2020 $ 2,907 2021 2,156 2022 1,423 2023 907 2024 390 We amortize the contract over 10 years ; customer bases over 4 years to 20 years ; and formulas and technology over 3 years to 6 years .

Deferred Charges and Other Asse

Deferred Charges and Other Assets	12 Months Ended
	Dec. 31, 2019
Other Assets, Noncurrent [Abstract]
Deferred Charges and Other Assets	Deferred Charges and Other Assets December 31, (in thousands) 2019 2018 Deposit on future leased plant and equipment $ 12,958 $ 0 Finance lease right-of-use assets 12,840 0 Asbestos insurance receivables 5,528 3,727 Deferred financing costs, net of amortization 1,507 2,060 Other 4,902 4,091 $ 37,735 $ 9,878 Deferred financing costs, net of amortization, in the table above include only those costs associated with the revolving credit facility. The amount of deferred financing costs, net of amortization related to the 4.10% senior notes is reported as a component of long-term debt. See Note 13

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2019
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Accrued Expenses December 31, (in thousands) 2019 2018 Employee benefits, payroll, and related taxes $ 33,806 $ 30,824 Customer rebates 22,682 24,822 Interest on long-term debt 5,290 5,388 Taxes other than income and payroll 3,631 5,778 Other 11,941 24,390 $ 77,350 $ 91,202

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2019
Long-term Debt and Lease Obligation [Abstract]
Long-term Debt	Long-term Debt December 31, (in thousands) 2019 2018 Senior notes - 4.10% due 2022 (net of related deferred financing costs) $ 348,263 $ 347,677 Senior notes - 3.78% due 2029 250,000 250,000 Revolving credit facility 44,678 168,129 Capital lease obligations 0 5,193 $ 642,941 $ 770,999 4.10% Senior Notes – In 2012, we issued $350 million aggregate principal amount of 4.10% senior notes due 2022 at an issue price of 99.83% . The notes are senior unsecured obligations and are registered under the Securities Act of 1933. We incurred financing costs totaling approximately $5 million related to the 4.10% senior notes, which are being amortized over the term of the agreement. The 4.10% senior notes rank: • equal in right of payment with all of our existing and future senior unsecured indebtedness; and • senior in right of payment to any of our future subordinated indebtedness. The indenture governing the 4.10% senior notes contains covenants that, among other things, limit our ability and the ability of our subsidiaries to: • create or permit to exist liens; • enter into sale-leaseback transactions; • incur additional guarantees; and • sell all or substantially all of our assets or consolidate or merge with or into other companies. We were in compliance with all covenants under the indenture governing the 4.10% senior notes as of December 31, 2019 and December 31, 2018 . 3.78% Senior Notes – On January 4, 2017, we issued $250 million in senior unsecured notes in a private placement with The Prudential Insurance Company of America and certain other purchasers. These notes bear interest at 3.78% and mature on January 4, 2029 . Interest is payable semiannually. Principal payments of $50 million are payable annually beginning on January 4, 2025. We have the right to make optional prepayments on the notes at any time, subject to certain limitations. The note purchase agreement contains representations, warranties, terms and conditions customary for transactions of this type. These include negative covenants, certain financial covenants and events of default which are substantially similar to the covenants and events of default in our revolving credit facility. We were in compliance with all covenants under the 3.78% senior notes as of December 31, 2019 and December 31, 2018 . Revolving Credit Facility – On September 22, 2017, we entered into a Credit Agreement (Credit Agreement) with a term of five years . The Credit Agreement provides for an $850 million , multicurrency revolving credit facility, with a $150 million sublimit for multicurrency borrowings, a $75 million sublimit for letters of credit, and a $20 million sublimit for swingline loans. The Credit Agreement includes an expansion feature which allows us, subject to certain conditions, to request an increase to the aggregate amount of the revolving credit facility or obtain incremental term loans in an amount up to $425 million . In addition, the Credit Agreement includes provisions that allow certain of our foreign subsidiaries to borrow under the agreement. The obligations under the Credit Agreement are unsecured and are fully and unconditionally guaranteed by NewMarket. The revolving credit facility matures on September 22, 2022 . We incurred financing costs totaling $2.8 million related to the Credit Agreement, which are being amortized over the term of the agreement. The outstanding borrowings under the Credit Agreement amounted to $45 million at December 31, 2019 and $168 million at December 31, 2018 . Outstanding letters of credit amounted to $3 million at both December 31, 2019 and December 31, 2018 resulting in the unused portion of the credit facility amounting to $803 million at December 31, 2019 and $679 million at December 31, 2018 . Borrowings made under the revolving credit facility bear interest, at our option, at an annual rate equal to either (1) the Alternate Base Rate (ABR) plus the Applicable Rate (as defined in the Credit Agreement) (solely in the case of loans denominated in U.S. Dollars to NewMarket) or (2) the Adjusted LIBO Rate plus the Applicable Rate. The ABR is the greater of (i) the rate of interest publicly announced by the Administrative Agent as its prime rate, (ii) the NYFRB Rate (as defined in the Credit Agreement) from time to time plus 0.5% , and (iii) the Adjusted LIBO Rate for a one month interest period plus 1% . The Adjusted LIBO Rate means the rate at which Eurocurrency deposits in the London interbank market for certain periods (as selected by NewMarket) are quoted, as adjusted for statutory reserve requirements for Eurocurrency liabilities and other applicable mandatory costs. The Applicable Rate ranges from 0.0% to 0.625% (depending on our consolidated Leverage Ratio or Credit Ratings) for loans bearing interest based on the ABR. The Applicable Rate ranges from 1.00% to 1.625% (depending on our Leverage Ratio or Credit Ratings) for loans bearing interest based on the Adjusted LIBO Rate. At December 31, 2019 , the Applicable Rate was 0.125% for loans bearing interest based on the ABR and 1.125% for loans bearing interest based on the Adjusted LIBO Rate. The average interest rate for borrowings under our revolving credit facilities was 3.0% during 2019 and 3.0% during 2018 . We were in compliance with all covenants under the revolving credit facility at December 31, 2019 and at December 31, 2018 . Capital Lease Obligations – The 2018 capital lease obligations presented above are related to the Singapore manufacturing facility and were reclassified to finance lease liabilities in other noncurrent liabilities on the Consolidated Balance Sheets with the adoption of Accounting Standards Update 2016-02 on January 1, 2019. See Note 16 for further information.

Other Noncurrent Liabilities

Other Noncurrent Liabilities	12 Months Ended
	Dec. 31, 2019
Other Liabilities, Noncurrent [Abstract]
Other Noncurrent Liabilities	Other Noncurrent Liabilities December 31, (in thousands) 2019 2018 Employee benefits $ 92,711 $ 81,473 Deferred income taxes 57,196 43,071 Finance lease liabilities 11,119 0 Asbestos litigation reserve 10,534 8,296 Environmental remediation 9,204 9,854 Deemed repatriation of earnings 2,956 2,956 Other 19,686 19,417 $ 203,406 $ 165,067

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-based Compensation	Stock-based Compensation The 2014 Incentive Compensation and Stock Plan (the Plan) was approved on April 24, 2014. Any employee of our company or an affiliate or a person who is a member of our Board of Directors or the board of directors of an affiliate is eligible to participate in the Plan if the Compensation Committee of the Board of Directors (the Administrator), in its sole discretion, determines that such person has contributed or can be expected to contribute to the profits or growth of our company or its affiliates (each, a participant). Under the terms of the Plan, we may grant participants stock awards, incentive awards, stock units, or options (which may be either incentive stock options or nonqualified stock options), or stock appreciation rights (SARs), which may be granted with a related option. Stock options entitle the participant to purchase a specified number of shares of our common stock at a price that is fixed by the Administrator at the time the option is granted; provided, however, that the price cannot be less than the shares’ fair market value on the date of grant. The maximum period in which an option may be exercised is fixed by the Administrator at the time the option is granted but, in the case of an incentive stock option, cannot exceed 10 years . No participant may be granted or awarded, in any calendar year, shares, options, SARs, or stock units covering more than 200,000 shares of our common stock in the aggregate. For purposes of this limitation and the individual limitation on the grant of options, an option and corresponding SAR are treated as a single award. The maximum aggregate number of shares of our common stock that may be issued under the Plan is 1,000,000 . At December 31, 2019 , 959,366 shares were available for grant. During 2019 , we granted 1,120 shares to five of our non-employee directors, which vested immediately. A summary of activity during 2019 related to NewMarket’s restricted stock and restricted stock units (stock awards) is presented below in whole shares: Number of Shares Weighted Average Grant-Date Fair Value Unvested stock awards at January 1, 2019 19,328 $ 414.52 Granted in 2019 6,326 440.42 Vested in 2019 2,001 381.99 Forfeited in 2019 2,542 399.78 Unvested stock awards at December 31, 2019 21,111 427.14 The weighted average grant-date fair value was $415.98 for stock awards granted in 2018 and $428.61 for stock awards granted in 2017 . The fair value of shares vested was $1 million in 2019 , $3 million in 2018 , and $3 million in 2017 . We recognized compensation expense of $2 million in 2019 , $2 million in 2018 , and $3 million in 2017 related to stock awards. At December 31, 2019 , total unrecognized compensation expense related to stock awards was $4 million , which is expected to be recognized over a period of 2.5 years

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Leases Our leases are for land, real estate, railcars, vehicles, pipelines, plant equipment, and office equipment. We have both operating and finance leases with remaining terms ranging from less than one year to 51 years . Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense were as follows: Year Ended December 31, (in thousands) 2019 Operating lease cost $ 17,414 Finance lease cost: Amortization of assets 2,723 Interest on lease liabilities 426 Short-term lease cost 3,459 Variable lease cost 3,206 Total lease cost $ 27,228 Variable lease costs also include leases that do not have a right-of-use asset or lease liability, but are capitalized as part of inventory. Rental expense was $23 million in 2018 and $33 million in 2017 under the authoritative accounting guidance in effect during those years. Supplemental balance sheet information related to leases was as follows: (in thousands) Balance Sheet Classification December 31, Operating leases: Operating lease right-of-use assets Operating lease right-of-use assets $ 60,505 Current liability Operating lease liabilities $ 14,036 Noncurrent liability Operating lease liabilities-noncurrent 46,792 $ 60,828 Finance leases: Finance lease right-of-use assets Deferred charges and other assets $ 12,840 Current liability Other current liabilities $ 3,019 Noncurrent liability Other noncurrent liabilities 11,119 $ 14,138 December 31, Weighted average remaining lease term (in years): Operating leases 14 Finance leases 9 Weighted average incremental borrowing rate: Operating leases 3.88 % Finance leases 3.41 % Supplemental cash flow information related to leases was as follows: Twelve Months Ended December 31, (in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 16,765 Operating cash flows from finance leases 426 Financing cash flows from finance leases 2,649 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 18,826 Finance leases 10,555 Maturities of lease liabilities as of December 31, 2019 were as follows: (in thousands) Operating Leases Finance Leases 2020 $ 16,019 $ 3,443 2021 11,791 2,423 2022 9,105 1,390 2023 7,516 1,172 2024 4,244 1,127 Thereafter 33,155 6,745 Total lease payments 81,830 16,300 Less: imputed interest 21,002 2,162 Total lease obligations $ 60,828 $ 14,138 Operating lease payments in the table above include approximately $16 million related to options to extend lease terms that are reasonably certain of being exercised. At December 31, 2019 , we had commitments of approximately $36 million related to leases that have not yet commenced and are not included in the above table. Most of the commitments relate to plant and equipment that is being constructed or procured by the future lessors. These leases are expected to commence in 2020 and 2021. Under the authoritative accounting guidance in effect at December 31, 2018, future lease payments for all noncancelable operating leases as of December 31, 2018 were (in thousands): 2019 $ 17,223 2020 15,035 2021 10,502 2022 7,957 2023 6,810 After 2023 24,490

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Pension Plans and Other Postretirement Benefits	Pension Plans and Other Postretirement Benefits NewMarket uses a December 31 measurement date for all of our plans. U.S. Retirement Plans NewMarket sponsors four pension plans for all full-time U.S. employees that offer a benefit based primarily on years of service and compensation. Employees do not contribute to these pension plans. The plans are as follows: • Salaried employees pension plan; • Afton pension plan for union employees (the Sauget plan); • NewMarket retirement income plan for union employees in Houston, Texas (the Houston plan); and • Afton Chemical Additives pension plan for union employees in Port Arthur, Texas (the Port Arthur plan). In addition, we offer an unfunded, nonqualified supplemental pension plan. This plan restores the pension benefits from our regular pension plans that would have been payable to designated participants if it were not for limitations imposed by U.S. federal income tax regulations. We also provide postretirement health care benefits and life insurance to eligible retired employees. The service cost component of net periodic benefit cost (income) is included in cost of goods sold; selling, general, and administrative expenses; or research, development, and testing expenses, to reflect where other compensation costs arising from services rendered by the pertinent employee are recorded on the Consolidated Statements of Income. The remaining components of net periodic benefit cost (income) are recorded in other income (expense), net on the Consolidated Statements of Income. The components of net periodic pension and postretirement benefit cost (income), as well as other amounts recognized in other comprehensive income (loss), are shown below. Years Ended December 31, Pension Benefits Postretirement Benefits (in thousands) 2019 2018 2017 2019 2018 2017 Net periodic benefit cost (income) Service cost $ 13,471 $ 15,391 $ 13,679 $ 718 $ 896 $ 774 Interest cost 14,509 13,256 13,289 1,514 1,458 1,582 Expected return on plan assets (34,632 ) (29,883 ) (26,146 ) (947 ) (969 ) (1,197 ) Amortization of prior service cost (credit) 178 25 26 (3,028 ) (3,028 ) (3,029 ) Amortization of actuarial net (gain) loss 2,951 5,139 4,725 0 0 0 Net periodic benefit cost (income) (3,523 ) 3,928 5,573 (1,743 ) (1,643 ) (1,870 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (36,814 ) 29,215 (13,386 ) 3,049 (2,190 ) 2,635 Prior service cost (credit) 1,013 0 0 0 0 0 Amortization of actuarial net gain (loss) (2,951 ) (5,139 ) (4,725 ) 0 0 0 Amortization of prior service (cost) credit (178 ) (25 ) (26 ) 3,028 3,028 3,029 Total recognized in other comprehensive income (loss) (38,930 ) 24,051 (18,137 ) 6,077 838 5,664 Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (42,453 ) $ 27,979 $ (12,564 ) $ 4,334 $ (805 ) $ 3,794 The estimated actuarial net loss to be amortized from accumulated other comprehensive loss into net periodic benefit cost (income) during 2020 is expected to be $5 million for pension plans. The estimated prior service credit to be amortized from accumulated other comprehensive loss into net periodic benefit cost (income) during 2020 is not expected to be material for pension plans. The estimated prior service credit to be amortized from accumulated other comprehensive loss into net periodic benefit cost (income) during 2020 related to postretirement benefits is expected to be $3 million . Changes in the plans’ benefit obligations and assets follow. December 31, Pension Benefits Postretirement Benefits (in thousands) 2019 2018 2019 2018 Change in benefit obligation Benefit obligation at beginning of year $ 349,212 $ 358,812 $ 37,512 $ 40,438 Service cost 13,471 15,391 718 896 Interest cost 14,509 13,256 1,514 1,458 Actuarial net (gain) loss 38,045 (26,957 ) 3,165 (2,355 ) Plan amendment 1,014 0 0 0 Benefits paid (13,195 ) (11,290 ) (2,589 ) (2,925 ) Benefit obligation at end of year 403,056 349,212 40,320 37,512 Change in plan assets Fair value of plan assets at beginning of year 384,552 365,421 22,378 22,904 Actual return on plan assets 109,493 (26,289 ) 1,063 803 Employer contributions 2,973 56,710 1,240 1,596 Benefits paid (13,195 ) (11,290 ) (2,589 ) (2,925 ) Fair value of plan assets at end of year 483,823 384,552 22,092 22,378 Funded status $ 80,767 $ 35,340 $ (18,228 ) $ (15,134 ) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 121,968 $ 75,206 $ 0 $ 0 Current liabilities (2,920 ) (2,788 ) (1,164 ) (1,215 ) Noncurrent liabilities (38,281 ) (37,078 ) (17,064 ) (13,919 ) $ 80,767 $ 35,340 $ (18,228 ) $ (15,134 ) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ 73,261 $ 113,026 $ 2,569 $ (480 ) Prior service cost (credit) 842 7 (22,647 ) (25,675 ) $ 74,103 $ 113,033 $ (20,078 ) $ (26,155 ) The accumulated benefit obligation for all domestic defined benefit pension plans was $346 million at December 31, 2019 and $303 million at December 31, 2018 . The fair market value of plan assets exceeded the accumulated benefit obligation for all domestic plans, except the nonqualified plan, at December 31, 2019 and December 31, 2018 . The fair market value of plan assets exceeded the projected benefit obligation for all domestic plans, except the nonqualified plan, at December 31, 2019 and December 31, 2018 . The net asset position for plans in which assets exceeded the projected benefit obligation is included in prepaid pension cost on the Consolidated Balance Sheets. The net liability position of plans in which the projected benefit obligation exceeded assets is included in other noncurrent liabilities on the Consolidated Balance Sheets. A portion of the accrued benefit cost for the nonqualified plan is included in current liabilities at both December 31, 2019 and December 31, 2018 . As the nonqualified plan is unfunded, the amount reflected in current liabilities represents the expected benefit payments related to the nonqualified plan during 2020 . The first table below shows information on domestic pension plans with the accumulated benefit obligation in excess of plan assets. The second table presents information on domestic pension plans with the projected benefit obligation in excess of plan assets. December 31, (in thousands) 2019 2018 Plans with the accumulated benefit obligation in excess of the fair market value of plan assets Projected benefit obligation $ 41,201 $ 39,866 Accumulated benefit obligation 38,167 36,586 Fair market value of plan assets 0 0 December 31, (in thousands) 2019 2018 Plans with the projected benefit obligation in excess of the fair market value of plan assets Projected benefit obligation $ 41,201 $ 39,866 Fair market value of plan assets 0 0 There are no assets held by the trustee for the retired beneficiaries of the nonqualified plan. Payments to retired beneficiaries of the nonqualified plan are made with cash from operations. Assumptions —We used the following assumptions to calculate the results of our retirement plans: Pension Benefits Postretirement Benefits 2019 2018 2017 2019 2018 2017 Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31, Discount rate 4.25 % 3.75 % 4.25 % 4.25 % 3.75 % 4.25 % Expected long-term rate of return on plan assets 8.50 % 8.50 % 8.50 % 4.50 % 4.50 % 5.50 % Rate of projected compensation increase 3.50 % 3.50 % 3.50 % Weighted-average assumptions used to determine benefit obligations at December 31, Discount rate 3.50 % 4.25 % 3.75 % 3.50 % 4.25 % 3.75 % Rate of projected compensation increase 3.50 % 3.50 % 3.50 % For pension plans, we base the assumed expected long-term rate of return for plan assets on an analysis of our actual investments, including our asset allocation, as well as an analysis of expected returns. This analysis reflects the expected long-term rates of return for each significant asset class and economic indicator. As of January 1, 2020 , the expected rates were 8.5% for U.S. large cap stocks, 3.6% for fixed income, and 2.6% for inflation. The range of returns relies both on forecasts and on broad-market historical benchmarks for expected return, correlation, and volatility for each asset class. Our asset allocation is predominantly weighted toward equities. Through our ongoing monitoring of our investments and review of market data, we have determined that we should maintain the expected long-term rate of return for our U.S. plans at 8.5% at December 31, 2019 . For the postretirement plan, we based the assumed expected long-term rate of return for plan assets on an evaluation of projected interest rates, as well as the guaranteed interest rate for our insurance contract. Plan Assets —Pension plan assets are held and distributed by trusts and consist principally of equity securities and investment-grade fixed income securities. We invest directly in equity securities, as well as in funds which primarily hold equity and debt securities. Our target allocation is 90% to 97% in equities, 3% to 10% in debt securities and 1% to 5% in cash. The pension obligation is long-term in nature and the investment philosophy followed by the Pension Investment Committee is likewise long-term in its approach. The majority of the pension funds are invested in equity securities as historically, equity securities have outperformed debt securities and cash investments, resulting in a higher investment return over the long-term. While in the short-term, equity securities may underperform other investment classes, we are less concerned with short-term results and more concerned with long-term improvement. The pension funds are managed by several different investment companies who predominantly invest in U.S. and international equities. Each investment company’s performance is reviewed quarterly. A small portion of the funds is in investments such as cash or short-term bonds, which historically has been less vulnerable to short-term market swings. These funds are used to provide the cash needed to meet our monthly obligations. There are no significant concentrations of risk within plan assets, nor do the equity securities include any NewMarket common stock for any year presented. The assets of the postretirement benefit plan are invested completely in an insurance contract held by Metropolitan Life. No NewMarket common stock is included in these assets. The following table provides information on the fair value of our pension and postretirement benefit plans assets, as well as the related level within the fair value hierarchy. Investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified by level in the fair value hierarchy. December 31, 2019 December 31, 2018 Fair Value Measurements Using Fair Value Measurements Using (in thousands) Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Pension Plans Equity securities: U. S. companies $ 338,564 $ 338,564 $ 0 $ 0 $ 280,717 $ 280,717 $ 0 $ 0 International companies 20,751 20,751 0 0 4,223 4,223 0 0 Money market instruments 17,618 17,618 0 0 13,099 13,099 0 0 Pooled investment funds: Fixed income securities—mutual funds 9,576 9,576 0 0 9,039 9,039 0 0 International equities—mutual fund 17,378 17,378 0 0 14,302 14,302 0 0 Common collective trusts measured at net asset value 78,256 61,254 Insurance contract 1,680 0 1,680 0 1,918 0 1,918 0 $ 483,823 $ 403,887 $ 1,680 $ 0 $ 384,552 $ 321,380 $ 1,918 $ 0 Postretirement Plans Insurance contract $ 22,092 $ 0 $ 22,092 $ 0 $ 22,378 $ 0 $ 22,378 $ 0 The valuation methodologies used to develop the fair value measurements for the investments in the table above is outlined below. There have been no changes in the valuation techniques used to value the investments. • Equity securities, including common stock and real estate investment trusts, are valued at the closing price reported on a national exchange. • Money market instruments are valued at cost, which approximates fair value. • Pooled investment funds—Mutual funds are valued at the closing price reported on a national exchange. • The common collective trusts (the trusts) are valued at the net asset value of units held based on the quoted market value of the underlying investments held by the funds. One of the trusts invests primarily in a diversified portfolio of equity securities of companies located outside of the United States and Canada, as determined by a company's jurisdiction of incorporation. We may make withdrawals from this trust on the first business day of each month with at least 10 days notice. Another trust invests primarily in a diversified portfolio of equity securities included in the S&P 500 index and a third trust invests primarily in a diversified portfolio of equity securities included in the Russell 1000 Value index. There are no restrictions on redemption for the index trusts and there were no unfunded commitments. • Cash and cash equivalents are valued at cost. • The insurance contracts are unallocated funds deposited with an insurance company and are stated at an amount equal to the sum of all amounts deposited less the sum of all amounts withdrawn, adjusted for investment return. Cash Flows —For U.S. plans, NewMarket expects to contribute $3 million to our pension plans and $1 million to our postretirement benefit plan in 2020 . The expected benefit payments for the next ten years are as follows. (in thousands) Expected Pension Benefit Payments Expected Postretirement Benefit Payments 2020 $ 13,011 $ 2,553 2021 13,809 2,420 2022 14,687 2,296 2023 15,659 2,194 2024 16,689 2,094 2025 through 2029 98,827 9,906 Foreign Retirement Plans For most employees of our foreign subsidiaries, NewMarket has defined benefit pension plans that offer benefits based primarily on years of service and compensation. These defined benefit plans provide benefits for employees of our foreign subsidiaries located in Belgium, the U.K., Germany, Canada, and Mexico. NewMarket generally contributes to investment trusts and insurance accounts to provide for these plans. The components of net periodic pension cost (income), as well as other amounts recognized in other comprehensive income (loss), for these foreign defined benefit pension plans are shown below. Years Ended December 31, (in thousands) 2019 2018 2017 Net periodic benefit cost (income) Service cost $ 6,430 $ 7,271 $ 7,437 Interest cost 4,768 4,514 4,314 Expected return on plan assets (9,084 ) (9,918 ) (8,479 ) Amortization of prior service cost (credit) (42 ) (81 ) (79 ) Amortization of actuarial net (gain) loss 938 597 959 Net periodic benefit cost (income) 3,010 2,383 4,152 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss 11,074 4,532 (3,029 ) Prior service cost (credit) 0 537 0 Amortization of actuarial net gain (loss) (938 ) (597 ) (959 ) Amortization of prior service (cost) credit 42 81 79 Total recognized in other comprehensive income (loss) 10,178 4,553 (3,909 ) Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ 13,188 $ 6,936 $ 243 The estimated actuarial net loss to be amortized from accumulated other comprehensive loss into net periodic benefit cost (income) during 2020 is expected to be $1 million . The estimated prior service credit to be amortized from accumulated other comprehensive loss into net periodic benefit cost (income) during 2020 is not expected to be material. Changes in the benefit obligations and assets of the foreign defined benefit pension plans follow. December 31, (in thousands) 2019 2018 Change in benefit obligation Benefit obligation at beginning of year $ 173,620 $ 185,815 Service cost 6,430 7,271 Interest cost 4,768 4,514 Employee contributions 680 737 Actuarial net (gain) loss 21,558 (10,976 ) Benefits paid (5,977 ) (4,144 ) Foreign currency translation 4,979 (9,597 ) Benefit obligation at end of year 206,058 173,620 Change in plan assets Fair value of plan assets at beginning of year 163,746 176,968 Actual return on plan assets 19,591 (6,357 ) Employer contributions 5,586 5,968 Employee contributions 680 737 Benefits paid (5,977 ) (4,144 ) Foreign currency translation 5,829 (9,426 ) Fair value of plan assets at end of year 189,455 163,746 Funded status $ (16,603 ) $ (9,874 ) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 11,880 $ 13,499 Current liabilities (297 ) (301 ) Noncurrent liabilities (28,186 ) (23,072 ) $ (16,603 ) $ (9,874 ) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ 52,902 $ 42,766 Prior service cost (credit) 778 736 $ 53,680 $ 43,502 The accumulated benefit obligation for all foreign defined benefit pension plans was $171 million at December 31, 2019 and $146 million at December 31, 2018 . The fair market value of plan assets exceeded both the accumulated benefit obligation and projected benefit obligation for the U.K. and the Canada plans at both year-end 2019 and 2018. The net asset position of the U.K. and Canada plans are included in prepaid pension cost on the Consolidated Balance Sheets at December 31, 2019 and December 31, 2018. The accumulated benefit obligation and projected benefit obligation exceeded the fair market value of plan assets for the Germany and Belgium plans at December 31, 2019 and December 31, 2018. For the two Mexico plans, the accumulated benefit obligation and projected benefit obligation exceeded the fair market value of plan assets at December 31, 2019. At December 31, 2018 the fair market value of plan assets exceeded the accumulated benefit obligation but not the projected benefit obligation. The accrued benefit cost of these plans is included in other noncurrent liabilities on the Consolidated Balance Sheets. As the Germany plan is unfunded, a portion of the accrued benefit cost is included in current liabilities at year-end 2019 and 2018, reflecting the expected benefit payments related to the plan for the following year. The first table below shows information on foreign pension plans with the accumulated benefit obligation in excess of plan assets. The second table shows information on foreign pension plans with the projected benefit obligation in excess of plan assets. December 31, (in thousands) 2019 2018 Plans with the accumulated benefit obligation in excess of the fair market value of plan assets Projected benefit obligation $ 41,126 $ 33,730 Accumulated benefit obligation 27,879 22,803 Fair market value of plan assets 12,642 10,618 December 31, (in thousands) 2019 2018 Plans with the projected benefit obligation in excess of the fair market value of plan assets Projected benefit obligation $ 41,126 $ 35,970 Fair market value of plan assets 12,642 12,597 Assumptions —The information in the table below provides the weighted-average assumptions used to calculate the results of our foreign defined benefit pension plans. 2019 2018 2017 Weighted-average assumptions used to determine net periodic benefit cost (income) for the years ended December 31, Discount rate 2.67 % 2.36 % 2.53 % Expected long-term rate of return on plan assets 5.58 % 5.50 % 5.50 % Rate of projected compensation increase 4.10 % 4.14 % 4.20 % Weighted-average assumptions used to determine benefit obligations at December 31, Discount rate 1.81 % 2.67 % 2.36 % Rate of projected compensation increase 3.96 % 4.10 % 4.14 % The actuarial assumptions used by the various foreign locations are based upon the circumstances of each particular country and pension plan. The factors impacting the determination of the long-term rate of return for a particular foreign pension plan include the market conditions within a particular country, as well as the investment strategy and asset allocation of the specific plan. Plan Assets —Pension plan assets vary by foreign location and plan. Assets are held and distributed by trusts and, depending upon the foreign location and plan, consist primarily of pooled equity funds, pooled debt securities funds, pooled diversified funds, equity securities, debt securities, cash, and insurance contracts. The combined weighted-average target allocation of our foreign pension plans is 38% in equities (including pooled funds), 37% in debt securities (including pooled funds), 6% in insurance contracts, and 19% in pooled diversified funds. While the pension obligation is long-term in nature for each of our foreign plans, the investment strategies followed by each plan vary to some degree based upon the laws of a particular country, as well as the provisions of the specific pension trust. The U.K. and Canada plans are invested predominantly in equity securities funds, diversified funds, and debt securities funds. The funds of these plans are managed by various trustees and investment companies whose performance is reviewed throughout the year. The Belgium plan is invested in an insurance contract. The Mexico plans are invested in various mutual funds, equities, and debt securities. The Germany plan has no assets. There are no significant concentrations of risk within plan assets, nor do the equity securities include any NewMarket common stock for any year presented. The following table provides information on the fair value of our foreign pension plans assets, as well as the related level within the fair value hierarchy. Investments that are measured at fair value using net asset value per share (or its equivalent) have not been classified by level in the fair value hierarchy. December 31, 2019 December 31, 2018 Fair Value Measurements Using Fair Value Measurements Using (in thousands) Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Insurance contract $ 10,706 $ 0 $ 10,706 $ 0 $ 10,618 $ 0 $ 10,618 $ 0 Equity securities—international companies 691 691 0 0 684 684 0 0 Debt securities 663 646 17 0 756 698 58 0 Pooled investment funds—mutual funds 582 582 0 0 538 538 0 0 Cash and cash equivalents 131 131 0 0 66 66 0 0 Pooled investment funds (measured at net asset value): Equity securities—U.S. companies 13,074 10,294 Equity securities—international companies 60,945 49,610 Debt securities 67,094 60,480 Diversified growth funds 35,569 30,700 $ 189,455 $ 2,050 $ 10,723 $ 0 $ 163,746 $ 1,986 $ 10,676 $ 0 The valuation methodologies used to develop the fair value measurements for the investments in the table above are outlined below. There have been no changes in the valuation techniques used to value the investments. • The insurance contract represents funds deposited with an insurance company and is stated at an amount equal to the sum of all amounts deposited less the sum of all amounts withdrawn, adjusted for investment return. • Equity securities are valued at the closing price reported on a national exchange. • Debt securities are valued by quoted market prices or valued based on yields currently available on comparable securities of issuers with similar credit ratings. • Pooled investment funds that are mutual funds are valued at the closing price reported on a national exchange. • Cash and cash equivalents are valued at cost. • The pooled investment funds are valued at the net asset value of units held by the plans based on the quoted market value of the underlying investments held by the fund. The U.K. pension plan is invested in units of life insurance policies that are linked to equity securities funds, government bond funds and diversified growth funds. The underlying assets of the equity funds, bond funds, and diversified growth funds are traded on a national exchange and are based on tracking various indices of the London Stock Exchange. There are no redemption restrictions on these funds. There were no unfunded commitments for the U.K. pension plan funds. The Canada pension plan is invested in a pooled Canadian equity fund and a pooled diversified fund. The Canadian equity fund invests in a diversification (sector and industry) of equities listed on a recognized Canadian exchange. The diversified fund invests in a diversified mix of equities, fixed income securities, cash, and cash equivalent securities. There are no redemption restrictions on the pooled Canadian funds and there were no unfunded commitments. Cash Flows —For foreign pension plans, NewMarket expects to contribute $6 million to the plans in 2020 . The expected benefit payments for the next ten years for our foreign pension plans are shown in the table below. (in thousands) Expected Pension Benefit Payments 2020 $ 5,662 2021 5,830 2022 4,390 2023 6,187 2024 8,186 2025 through 2029 33,050

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Tax Expense	Income Taxes On December 22, 2017, the U.S. enacted tax legislation commonly known as the Tax Cuts and Jobs Act (Tax Reform Act), which required a one-time transition tax in 2017 on the deemed repatriation of previously deferred foreign earnings and reduced the U.S. corporate tax rate to 21% beginning in 2018. In addition, the Tax Reform Act included several provisions effective beginning in 2018 which impact NewMarket, including the global intangible low-taxed income (GILTI) inclusion from foreign subsidiaries and the foreign-derived intangible income deduction. We elected to account for the impact of the tax on GILTI in the period in which it is incurred. We recognized $31 million of income tax expense in the fourth quarter of 2017, as a result of the Tax Reform Act. This provisional expense included $32 million relating to the one-time tax on deferred foreign earnings, which we elected to pay over an eight-year period, partially offset by $1 million of reductions to deferred tax liabilities. During the fourth quarter of 2018 , we completed the accounting for the impact of the Tax Reform Act. We recorded $1 million of additional tax on previously deferred foreign earnings, which was offset by $8 million of reductions to deferred tax liabilities, as a result of the decrease in the U.S. corporate tax rate. These changes were the result of additional analysis, changes in previous interpretations and assumptions, additional regulatory guidance issued during 2018 , and actions we took as a result of the Tax Reform Act. As of December 31, 2019 , we have a remaining liability of $3 million associated with the one-time tax on the deemed repatriation of foreign earnings, which is recorded in other noncurrent liabilities. Our income before income tax expense, as well as our provision for income taxes is shown in the table below. Years Ended December 31, (in thousands) 2019 2018 2017 Income before income tax expense Domestic $ 183,907 $ 157,459 $ 140,779 Foreign 147,683 132,826 174,663 $ 331,590 $ 290,285 $ 315,442 Income tax expense Current income taxes Federal $ 29,955 $ 9,153 $ 61,188 State 9,551 4,679 3,942 Foreign 30,414 27,192 32,428 69,920 41,024 97,558 Deferred income taxes Federal 1,671 16,545 15,901 State 630 2,888 3,633 Foreign 5,083 (4,906 ) 7,841 7,384 14,527 27,375 Total income tax expense $ 77,304 $ 55,551 $ 124,933 The reconciliation of the U.S. federal statutory rate to the effective income tax rate follows. % of Income Before Income Tax Expense 2019 2018 2017 Federal statutory rate 21.0 % 21.0 % 35.0 % State taxes, net of federal tax 2.4 2.1 1.6 Foreign operations 1.7 (0.9 ) (4.4 ) Research tax credit (1.7 ) (1.5 ) (1.1 ) Foreign-derived intangible tax benefit (2.1 ) (2.4 ) 0.0 U.S. minimum tax on foreign income 1.0 1.5 0.0 Domestic manufacturing tax benefit 0.0 0.0 (0.8 ) Deemed repatriation of foreign earnings 0.0 0.5 10.1 Change in U.S. tax rate 0.0 (2.0 ) 0.2 Other items and adjustments 1.0 0.8 (1.0 ) Effective income tax rate 23.3 % 19.1 % 39.6 % Our deferred income tax assets and liabilities follow. December 31, (in thousands) 2019 2018 Deferred income tax assets Future employee benefits $ 0 $ 4,550 Operating loss and credit carryforwards 13,375 16,578 Trademark expenses 3,892 3,833 Foreign currency translation adjustments 4,772 4,708 Other 7,015 5,925 Gross deferred income tax assets 29,054 35,594 Valuation allowance (13,152 ) (13,059 ) Total deferred income tax assets 15,902 22,535 Deferred income tax liabilities Depreciation and amortization 56,618 51,601 Future employee benefits 4,064 0 Inventory 266 3,973 Other 5,823 4,938 Total deferred income tax liabilities 66,771 60,512 Net deferred income tax (liabilities) assets $ (50,869 ) $ (37,977 ) Reconciliation to financial statements Deferred income tax assets $ 6,327 $ 5,094 Deferred income tax liabilities 57,196 43,071 Net deferred income tax (liabilities) assets $ (50,869 ) $ (37,977 ) Deferred income tax liabilities are included in other noncurrent liabilities in our Consolidated Balance Sheets. Our deferred taxes are in a net liability position at December 31, 2019 . Our deferred tax assets include $13 million of foreign operating loss carryforwards, foreign capital loss carryforwards, and foreign and state tax credits. The operating loss carryforwards expire in 2020 through 2036 and certain tax credits expire in 2026 through 2027. Based on current forecasted operating plans and historical profitability, we believe that we will recover the full benefit of our deferred tax assets with the exception of the aforementioned operating loss, capital loss, and tax credit carryforwards. Therefore, as of December 31, 2019 , we have recorded a $13 million valuation allowance substantially offsetting the full amount of these items. As a result of the Tax Reform Act, we do not expect to distribute earnings from our foreign subsidiaries in a manner that would result in significant U.S. tax, as these earnings have been previously taxed in the U.S. or meet the requirements for a dividends received deduction. Therefore, we have only recorded an immaterial deferred tax liability for the currency impact and for the withholding taxes that will not be creditable upon distribution. We have not provided a deferred tax liability on approximately $123 million of temporary differences related to investments in foreign subsidiaries that are essentially permanent in duration, as these earnings are considered to be indefinitely reinvested. If we were to repatriate these earnings, we could be subject to income taxes and withholding taxes in various countries. Determination of the amount of unrecognized deferred income tax liability is not practicable due to the complexity associated with the hypothetical calculation. A reconciliation of the beginning and ending balances of the unrecognized tax benefits from uncertain positions is as follows: December 31, (in thousands) 2019 2018 2017 Balance at beginning of year $ 10,660 $ 9,102 $ 8,810 Increases for tax positions of prior years 3,176 2,123 865 Increases for tax positions of the current year 703 614 453 Settlements (440 ) (252 ) (260 ) Lapses of statutes (556 ) (927 ) (766 ) Balance at end of year $ 13,543 $ 10,660 $ 9,102 At December 31, 2019 , $12 million of the amount of unrecognized tax benefits, if recognized, would affect our effective tax rate. We expect the amount of unrecognized tax benefits to change in the next twelve months; however, we do not expect the change to have a material impact on our financial statements. Our U.S. subsidiaries file a U.S. federal consolidated income tax return. We are currently under examination by various U.S. state and foreign jurisdictions and remain subject to examination until the statute of limitations expires for the respective tax jurisdiction. We are no longer subject to U.S. federal income examination for years before 2016. Foreign and U.S. state jurisdictions have statutes of limitations generally ranging from 3 years to 5 years

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amount of cash and cash equivalents in the Consolidated Balance Sheets, as well as the fair value, was $144 million at December 31, 2019 and $73 million at December 31, 2018 . The fair value is categorized in Level 1 of the fair value hierarchy. No material events occurred during 2019 requiring adjustment to the recognized balances of assets or liabilities which are recorded at fair value on a nonrecurring basis. Long-term debt - We record the carrying amount of our long-term debt at historical cost, less deferred financing costs related to the 4.10% senior notes. The estimated fair value of our long-term debt is shown in the table below and is based primarily on estimated current rates available to us for debt of the same remaining duration and adjusted for nonperformance risk and credit risk. The estimated fair value of our publicly traded 4.10% senior notes included in long-term debt in the table below is based on the last quoted price closest to December 31, 2019 . The fair value of our debt instruments is categorized as Level 2. December 31, 2019 December 31, 2018 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt (excluding capital lease obligations in 2018) $ 642,941 $ 677,253 $ 765,806 $ 757,414

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contractual Commitments —We have contractual obligations for the construction of assets, as well as purchases of property and equipment, of approximately $32 million at December 31, 2019 , all of which are due within five years . Purchase Obligations —We have purchase obligations for goods or services that are enforceable, legally binding, and specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum, or variable price provisions; and the approximate timing of the transaction. Purchase obligations exclude agreements that are cancelable without penalty. Purchase orders made in the ordinary course of business are excluded from this amount. Any amounts for which we are liable under purchase orders are reflected in our Consolidated Balance Sheets as accounts payable or accrued expenses. Future payments for purchase obligations as of December 31, 2019 are (in thousands): 2020 $ 171,444 2021 148,173 2022 135,415 2023 78,232 2024 2,485 After 2024 14,270 Litigation — We are involved in legal proceedings that are incidental to our business and may include administrative or judicial actions. Some of these legal proceedings involve governmental authorities and relate to environmental matters. For further information, see Environmental below and Item 1 of this Form 10-K. While it is not possible to predict or determine with certainty the outcome of any legal proceeding, we believe the outcome of any of these proceedings, or all of them combined, will not result in a material adverse effect on our consolidated results of operations, financial condition, or cash flows. Asbestos We are a defendant in personal injury lawsuits involving exposure to asbestos. These cases involve exposure to asbestos in premises owned or operated, or formerly owned or operated, by subsidiaries of NewMarket. We have never manufactured, sold, or distributed products that contain asbestos. Nearly all of these cases are pending in Texas, Louisiana, or Illinois and involve multiple defendants. We maintain an accrual for these proceedings, as well as a receivable for expected insurance recoveries. The accrual for our premises asbestos liability related to currently asserted claims is based on the following assumptions and factors: • We are often one of many defendants. This factor influences both the number of claims settled against us and the indemnity cost associated with such resolutions. • The estimated percent of claimants in each case that, after discovery, will actually make a claim against us, out of the total number of claimants in a case, is based on a level consistent with past experience and current trends. • We utilize average comparable plaintiff cost history as the basis for estimating pending premises asbestos related claims. These claims are filed by both former contractors and former employees who worked at past and present company locations. We also include an estimated inflation factor in the calculation. • No estimate is made for unasserted claims. • The estimated recoveries from insurance and Albemarle Corporation (a former operation of our company) for these cases are based on, and are consistent with, the 2005 settlement agreements with Travelers Indemnity Company. Based on the above assumptions, we have provided an undiscounted liability related to premises asbestos claims of $12 million at December 31, 2019 and $10 million at December 31, 2018 . The liabilities related to asbestos claims are included in accrued expenses (current portion) and other noncurrent liabilities on the Consolidated Balance Sheets. Certain of these costs are recoverable through the settlement agreement with The Travelers Indemnity Company, as well as an agreement with Albemarle Corporation. The receivable for these recoveries related to premises asbestos liabilities was $6 million at December 31, 2019 and $5 million at December 31, 2018 . These receivables are included in trade and other accounts receivable, net on the Consolidated Balance Sheets for the current portion. The noncurrent portion is included in deferred charges and other assets. Environmental —We are involved in environmental proceedings and potential proceedings relating to soil and groundwater contamination, disposal of hazardous waste, and other environmental matters at several of our current or former facilities, or at third-party sites where we have been designated as a PRP. While we believe we are currently adequately accrued for known environmental issues, it is possible that unexpected future costs could have a significant impact on our financial position, results of operations, and cash flows. Our total accruals for environmental remediation, dismantling, and decontamination were approximately $11 million at December 31, 2019 and $12 million at December 31, 2018 . Of the total accrual, the current portion is included in accrued expenses and the noncurrent portion is included in other noncurrent liabilities on the Consolidated Balance Sheets. Our more significant environmental sites include a former plant site in Louisiana (the Louisiana site) and a Houston, Texas plant site (the Texas site). Together, the amounts accrued on a discounted basis related to these sites represented approximately $8 million of the total accrual above at December 31, 2019 , using discount rates ranging from 3% to 9% , and $8 million of the total accrual above at December 31, 2018 , using discount rates ranging from 3% to 9% . The aggregate undiscounted amount for these sites was $10 million at December 31, 2019 and $11 million at December 31, 2018 . Of the total accrued for these two sites, the amount related to remediation of groundwater and soil was $4 million for the Louisiana site and $3 million for the Texas site at December 31, 2019 and $4 million for the Louisiana site and $4 million for the Texas site at December 31, 2018

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss	Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss The balances of, and changes in, the components of accumulated other comprehensive loss, net of tax, consist of the following: (in thousands) Pension Plans Foreign Currency Translation Adjustments Accumulated Other Balance at December 31, 2016 $ (76,187 ) $ (106,323 ) $ (182,510 ) Other comprehensive income (loss) before reclassifications 10,966 23,849 34,815 Amounts reclassified from accumulated other comprehensive loss (a) 1,701 0 1,701 Other comprehensive income (loss) 12,667 23,849 36,516 Balance at December 31, 2017 (63,520 ) (82,474 ) (145,994 ) Other comprehensive income (loss) before reclassifications (25,027 ) (12,287 ) (37,314 ) Amounts reclassified from accumulated other comprehensive loss (a) 1,992 0 1,992 Other comprehensive income (loss) (23,035 ) (12,287 ) (35,322 ) Balance at December 31, 2018 (86,555 ) (94,761 ) (181,316 ) Other comprehensive income (loss) before reclassifications 15,983 1,808 17,791 Amounts reclassified from accumulated other comprehensive loss (a) 777 0 777 Other comprehensive income (loss) 16,760 1,808 18,568 Balance at December 31, 2019 $ (69,795 ) $ (92,953 ) $ (162,748 ) (a) The pension plan and other postretirement benefit components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income). See Note 17 for further information.

Selected Quarterly Consolidated

Selected Quarterly Consolidated Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2019
Selected Quarterly Financial Information [Abstract]
Selected Quarterly Consolidated Financial Data (unaudited)	Selected Quarterly Consolidated Financial Data (unaudited) (in thousands, except per-share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter 2019 Net sales $ 536,616 $ 563,417 $ 555,817 $ 534,445 Gross profit 152,869 170,833 162,727 143,440 Net income 62,205 74,174 67,805 50,102 Earnings per share - basic and diluted 5.57 6.63 6.06 4.48 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Net sales $ 589,245 $ 598,952 $ 563,166 $ 538,312 Gross profit 156,783 145,859 140,883 141,838 Net income 60,565 52,885 58,481 62,803 Earnings per share - basic and diluted 5.14 4.53 5.12 5.58

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements On January 1, 2019, we adopted Accounting Standards Update No. 2016-02, "Leases (Topic 842)" (ASU 2016-02) using the modified retrospective transition method allowing us to apply the new standard at the adoption date and to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Under this transition method, the prior comparative period continues to be reported under the accounting standards in effect for that period. We elected the package of practical expedients permitted under the transition guidance which, among other things, allowed us to carry forward the historical lease classification of existing leases. In addition, we elected the hindsight practical expedient to determine the lease term for existing leases and also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing agreements. Adoption of the new standard resulted in recognition of both right-of-use assets and lease liabilities of approximately $70 million as of January 1, 2019. As the right-of-use assets and lease liabilities were substantially the same at adoption, we did not record a cumulative effect adjustment to the opening balance of retained earnings. On January 1, 2019, we adopted Accounting Standards Update No. 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" (ASU 2018-02). ASU 2018-02 allows, but does not require, reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects that resulted from the enactment of the Tax Reform Act at the end of 2017. We elected to not reclassify those tax effects from accumulated other comprehensive income to retained earnings upon the adoption of ASU 2018-02.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Fair Value Measurement, Policy [Policy Text Block]	Long-term debt - We record the carrying amount of our long-term debt at historical cost, less deferred financing costs related to the 4.10%
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies Consolidation —Our consolidated financial statements include the accounts of NewMarket Corporation and its subsidiaries. All intercompany transactions are eliminated upon consolidation. References to "we," "us," "our," the "company," and "NewMarket" are to NewMarket Corporation and its consolidated subsidiaries, unless the context indicates otherwise. NewMarket is the parent company of three operating companies, each managing its own assets and liabilities. Those companies are Afton, which focuses on petroleum additive products; Ethyl, representing certain contracted manufacturing and services, as well as the antiknock compounds business; and NewMarket Development, which manages the property and improvements that we own in Virginia. NewMarket is also the parent company of NewMarket Services, which provides various administrative services to NewMarket, Afton, Ethyl, and NewMarket Development. Certain reclassifications have been made to the accompanying consolidated financial statements and the related notes to conform to the current presentation. Foreign Currency Translation —We translate the balance sheets of our foreign subsidiaries into U.S. Dollars based on the current exchange rate at the end of each period. We translate the statements of income using the weighted-average exchange rates for the period. NewMarket includes translation adjustments in the Consolidated Balance Sheets as part of accumulated other comprehensive loss and transaction adjustments in the Consolidated Statements of Income as part of cost of goods sold. Foreign currency transaction adjustments resulted in a net loss of $4 million in 2019 , a net loss of $8 million in 2018 , and a net gain of $5 million 2017 . Revenue Recognition —We recognize revenue when control of the product is transferred to our customer and for an amount that reflects the consideration we expect to collect from the customer. Net sales (revenues) are reported at the gross amount billed, including amounts related to shipping that are charged to the customer. Provisions for rebates to customers are recorded in the same period that the related sales are recorded. Freight costs incurred on the delivery of products are included in the Consolidated Statements of Income in cost of goods sold. Our standard terms of delivery are included in our contracts, sales order confirmation documents, and invoices. Taxes assessed by a governmental authority concurrent with sales to our customers, including sales, use, value-added, and revenue-related excise taxes, are not included as net sales, but are reflected in accrued expenses until remitted to the appropriate governmental authority. Cash and Cash Equivalents —Our cash equivalents consist of government obligations and commercial paper with original maturities of 90 days or less. Throughout the year, we have cash balances in excess of federally insured amounts on deposit with various financial institutions. We state cash and cash equivalents at cost, which approximates fair value. Accounts Receivable —We record our accounts receivable at net realizable value. We maintain an allowance for doubtful accounts for estimated losses resulting from our customers not making required payments. We determine the adequacy of the allowance by periodically evaluating each customer’s receivable balance, considering their financial condition and credit history, and considering current economic conditions. The allowance for doubtful accounts was not material at December 31, 2019 or December 31, 2018 . Inventories —NewMarket values its inventories at the lower of cost or net realizable value. In the United States, cost is determined on the last-in, first-out (LIFO) basis. In all other countries, we determine cost using a weighted-average method. Inventory cost includes raw materials, direct labor, and manufacturing overhead. Property, Plant, and Equipment —We state property, plant, and equipment at cost and compute depreciation by the straight-line method based on the estimated useful lives of the assets. We capitalize expenditures for significant improvements that extend the useful life of the related property. We expense repairs and maintenance, including plant turnaround costs, as incurred. When property is sold or retired, we remove the cost and accumulated depreciation from the accounts and any related gain or loss is included in earnings. Intangibles (Net of Amortization) and Goodwill —Identifiable intangibles include the cost of acquired contracts, formulas and technology, trademarks and trade names, and customer bases. We assign a value to identifiable intangibles based on independent third-party appraisals and management's assessment at the time of acquisition. NewMarket amortizes the cost of the customer bases by an accelerated method and the cost of the remaining identifiable intangibles by the straight-line method over the estimated economic life of the intangible. Goodwill arises from the excess of cost over the net assets of businesses acquired. Goodwill represents the residual purchase price after allocation to all identifiable net assets. We test goodwill for impairment each year, as well as whenever a significant event or circumstance occurs which could reduce the fair value of the reporting unit to which the goodwill applies below the carrying amount of the reporting unit. Impairment of Long-Lived Assets —When significant events or circumstances occur that might impair the value of long-lived assets, we evaluate recoverability of the recorded cost of these assets. Assets are considered to be impaired if their carrying amount is not recoverable from the estimated undiscounted future cash flows associated with the assets. If we determine an asset is impaired and its recorded cost is higher than estimated fair market value based on the estimated present value of future cash flows, we adjust the asset to estimated fair market value. Environmental Costs —NewMarket capitalizes environmental compliance costs if they extend the useful life of the related property or prevent future contamination. Environmental compliance costs also include maintenance and operation of pollution prevention and control facilities. We expense these compliance costs in cost of goods sold as incurred. Accrued environmental remediation and monitoring costs relate to an existing condition caused by past operations. NewMarket accrues these costs in current operations within cost of goods sold in the Consolidated Statements of Income when it is probable that we have incurred a liability and the amount can be reasonably estimated. These estimates are based on an assessment of the site, available clean-up methods, and prior experience in handling remediation. When we can reliably determine the amount and timing of future cash flows, we discount these liabilities, incorporating an inflation factor. Legal Costs —We expense legal costs in the period incurred. Employee Savings Plan —Most of our full-time salaried and hourly employees may participate in defined contribution savings plans. Employees who are covered by collective bargaining agreements may also participate in a savings plan according to the terms of their bargaining agreements. Employees, as well as NewMarket, contribute to the plans. We made contributions of $6 million in 2019 , $6 million in 2018 , and $6 million in 2017 related to these plans. Research, Development, and Testing Expenses —NewMarket expenses all research, development, and testing costs as incurred. R&D costs include personnel-related costs, as well as internal and external testing of our products. Income Taxes —We recognize deferred income taxes for temporary differences between the financial reporting basis and the income tax basis of assets and liabilities. We also adjust for changes in tax rates and laws at the time the changes are enacted. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized. We typically remove a tax impact from accumulated other comprehensive loss when the underlying circumstance which gave rise to the tax impact no longer exists. We recognize accrued interest and penalties associated with uncertain tax positions as part of income tax expense on our Consolidated Statements of Income. Leases —We determine if an arrangement includes a lease at the inception of the agreement. The right-of-use asset and lease liability is determined at the lease commencement date and is based on the present value of estimated lease payments. Our lease agreements contain both fixed and variable lease payments. In some cases, variable lease payments are based on a rate or an index. Fixed lease payments, as well as variable lease payments which are based on a rate or index, are included in the determination of the right-of-use asset and lease liability. Variable lease payments that are not based on a rate or index are expensed when incurred. The present value of estimated lease payments is determined utilizing the rate implicit in the lease agreement, if that rate can be determined. If the implicit rate cannot be determined, the present value of estimated lease payments is determined utilizing our incremental borrowing rate. The incremental borrowing rate is determined at the lease commencement date and is developed utilizing a readily available market interest rate curve adjusted for our credit quality. Some of our leases include an option to renew that can extend the lease term. For those leases which are reasonably certain to be renewed, we include the renewal in the lease term. We do not recognize leases with terms of 12 months or less on the balance sheet for any lease class, except the railcar lease class. For the short-term leases not recorded on the balance sheet, the lease payments are recognized in the consolidated statements of income on a straight-line basis over the lease term. We account for the lease and nonlease components as a single lease component in determining the right-of-use assets and lease liabilities for all lease classes. Derivative Financial Instruments and Hedging Activities —We are exposed to certain risks arising from both our business operations and economic conditions. We manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage certain economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of our debt funding, as well as through the use of derivative financial instruments. We sometimes enter into interest rate swaps to manage our exposure to interest rate movements. In addition, our foreign operations expose us to fluctuations of foreign exchange rates. These fluctuations may impact our results of operations, financial position, and cash flows. To manage this exposure, we sometimes enter into foreign currency forward contracts to minimize currency exposure due to cash flows from foreign operations. We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. We do not enter into derivative instruments for speculative purposes. We had no derivative financial instruments outstanding at December 31, 2019 or December 31, 2018 . Stock-based Compensation —We calculate the fair value of restricted stock and restricted stock units based on the closing price of our common stock on the date of grant. If award recipients are entitled to receive dividends during the vesting period, we make no adjustment to the fair value of the award for dividends. If the award does not entitle recipients to dividends during the vesting period, we reduce the grant-date price of our common stock by the present value of the dividends expected to be paid on the underlying shares during the vesting period, discounted at the risk-free interest rate. We recognize stock-based compensation expense for the number of awards expected to vest on a straight-line basis over the requisite service period. Estimates and Risks Due to Concentration of Business —The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. In addition, our financial results can be influenced by certain risk factors. Some of our significant concentrations of risk include the following: • reliance on a small number of significant customers; • customers concentrated in the fuel and lubricant industries; and • production of several of our products solely at one facility.
Consolidation	Consolidation —Our consolidated financial statements include the accounts of NewMarket Corporation and its subsidiaries. All intercompany transactions are eliminated upon consolidation. References to "we," "us," "our," the "company," and "NewMarket" are to NewMarket Corporation and its consolidated subsidiaries, unless the context indicates otherwise. NewMarket is the parent company of three operating companies, each managing its own assets and liabilities. Those companies are Afton, which focuses on petroleum additive products; Ethyl, representing certain contracted manufacturing and services, as well as the antiknock compounds business; and NewMarket Development, which manages the property and improvements that we own in Virginia. NewMarket is also the parent company of NewMarket Services, which provides various administrative services to NewMarket, Afton, Ethyl, and NewMarket Development. Certain reclassifications have been made to the accompanying consolidated financial statements and the related notes to conform to the current presentation.
Foreign Currency Translation	Foreign Currency Translation —We translate the balance sheets of our foreign subsidiaries into U.S. Dollars based on the current exchange rate at the end of each period. We translate the statements of income using the weighted-average exchange rates for the period. NewMarket includes translation adjustments in the Consolidated Balance Sheets as part of accumulated other comprehensive loss and transaction adjustments in the Consolidated Statements of Income as part of cost of goods sold. Foreign currency transaction adjustments resulted in a net loss of $4 million in 2019 , a net loss of $8 million in 2018 , and a net gain of $5 million 2017
Revenue Recognition	Revenue Recognition —We recognize revenue when control of the product is transferred to our customer and for an amount that reflects the consideration we expect to collect from the customer. Net sales (revenues) are reported at the gross amount billed, including amounts related to shipping that are charged to the customer. Provisions for rebates to customers are recorded in the same period that the related sales are recorded. Freight costs incurred on the delivery of products are included in the Consolidated Statements of Income in cost of goods sold. Our standard terms of delivery are included in our contracts, sales order confirmation documents, and invoices. Taxes assessed by a governmental authority concurrent with sales to our customers, including sales, use, value-added, and revenue-related excise taxes, are not included as net sales, but are reflected in accrued expenses until remitted to the appropriate governmental authority.
Cash and Cash Equivalents	Cash and Cash Equivalents —Our cash equivalents consist of government obligations and commercial paper with original maturities of 90 days or less. Throughout the year, we have cash balances in excess of federally insured amounts on deposit with various financial institutions. We state cash and cash equivalents at cost, which approximates fair value.
Accounts Receivable	Accounts Receivable —We record our accounts receivable at net realizable value. We maintain an allowance for doubtful accounts for estimated losses resulting from our customers not making required payments. We determine the adequacy of the allowance by periodically evaluating each customer’s receivable balance, considering their financial condition and credit history, and considering current economic conditions. The allowance for doubtful accounts was not material at December 31, 2019 or December 31, 2018 .
Inventories	Inventories —NewMarket values its inventories at the lower of cost or net realizable value. In the United States, cost is determined on the last-in, first-out (LIFO) basis. In all other countries, we determine cost using a weighted-average method. Inventory cost includes raw materials, direct labor, and manufacturing overhead.
Property, Plant, and Equipment	Property, Plant, and Equipment —We state property, plant, and equipment at cost and compute depreciation by the straight-line method based on the estimated useful lives of the assets. We capitalize expenditures for significant improvements that extend the useful life of the related property. We expense repairs and maintenance, including plant turnaround costs, as incurred. When property is sold or retired, we remove the cost and accumulated depreciation from the accounts and any related gain or loss is included in earnings.
Intangibles (Net of Amortization) and Goodwill	Intangibles (Net of Amortization) and Goodwill —Identifiable intangibles include the cost of acquired contracts, formulas and technology, trademarks and trade names, and customer bases. We assign a value to identifiable intangibles based on independent third-party appraisals and management's assessment at the time of acquisition. NewMarket amortizes the cost of the customer bases by an accelerated method and the cost of the remaining identifiable intangibles by the straight-line method over the estimated economic life of the intangible. Goodwill arises from the excess of cost over the net assets of businesses acquired. Goodwill represents the residual purchase price after allocation to all identifiable net assets. We test goodwill for impairment each year, as well as whenever a significant event or circumstance occurs which could reduce the fair value of the reporting unit to which the goodwill applies below the carrying amount of the reporting unit.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets —When significant events or circumstances occur that might impair the value of long-lived assets, we evaluate recoverability of the recorded cost of these assets. Assets are considered to be impaired if their carrying amount is not recoverable from the estimated undiscounted future cash flows associated with the assets. If we determine an asset is impaired and its recorded cost is higher than estimated fair market value based on the estimated present value of future cash flows, we adjust the asset to estimated fair market value.
Environmental Costs	Environmental Costs —NewMarket capitalizes environmental compliance costs if they extend the useful life of the related property or prevent future contamination. Environmental compliance costs also include maintenance and operation of pollution prevention and control facilities. We expense these compliance costs in cost of goods sold as incurred. Accrued environmental remediation and monitoring costs relate to an existing condition caused by past operations. NewMarket accrues these costs in current operations within cost of goods sold in the Consolidated Statements of Income when it is probable that we have incurred a liability and the amount can be reasonably estimated. These estimates are based on an assessment of the site, available clean-up methods, and prior experience in handling remediation. When we can reliably determine the amount and timing of future cash flows, we discount these liabilities, incorporating an inflation factor.
Legal Costs	Legal Costs —We expense legal costs in the period incurred.
Employee Savings Plan	Employee Savings Plan —Most of our full-time salaried and hourly employees may participate in defined contribution savings plans. Employees who are covered by collective bargaining agreements may also participate in a savings plan according to the terms of their bargaining agreements. Employees, as well as NewMarket, contribute to the plans. We made contributions of $6 million in 2019 , $6 million in 2018 , and $6 million in 2017 related to these plans.
Research, Development, and Testing Expenses	Research, Development, and Testing Expenses
Income Taxes	Income Taxes —We recognize deferred income taxes for temporary differences between the financial reporting basis and the income tax basis of assets and liabilities. We also adjust for changes in tax rates and laws at the time the changes are enacted. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized. We typically remove a tax impact from accumulated other comprehensive loss when the underlying circumstance which gave rise to the tax impact no longer exists. We recognize accrued interest and penalties associated with uncertain tax positions as part of income tax expense on our Consolidated Statements of Income.
Leases	Leases —We determine if an arrangement includes a lease at the inception of the agreement. The right-of-use asset and lease liability is determined at the lease commencement date and is based on the present value of estimated lease payments. Our lease agreements contain both fixed and variable lease payments. In some cases, variable lease payments are based on a rate or an index. Fixed lease payments, as well as variable lease payments which are based on a rate or index, are included in the determination of the right-of-use asset and lease liability. Variable lease payments that are not based on a rate or index are expensed when incurred. The present value of estimated lease payments is determined utilizing the rate implicit in the lease agreement, if that rate can be determined. If the implicit rate cannot be determined, the present value of estimated lease payments is determined utilizing our incremental borrowing rate. The incremental borrowing rate is determined at the lease commencement date and is developed utilizing a readily available market interest rate curve adjusted for our credit quality. Some of our leases include an option to renew that can extend the lease term. For those leases which are reasonably certain to be renewed, we include the renewal in the lease term. We do not recognize leases with terms of 12 months or less on the balance sheet for any lease class, except the railcar lease class. For the short-term leases not recorded on the balance sheet, the lease payments are recognized in the consolidated statements of income on a straight-line basis over the lease term. We account for the lease and nonlease components as a single lease component in determining the right-of-use assets and lease liabilities for all lease classes.
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging Activities —We are exposed to certain risks arising from both our business operations and economic conditions. We manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage certain economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of our debt funding, as well as through the use of derivative financial instruments. We sometimes enter into interest rate swaps to manage our exposure to interest rate movements. In addition, our foreign operations expose us to fluctuations of foreign exchange rates. These fluctuations may impact our results of operations, financial position, and cash flows. To manage this exposure, we sometimes enter into foreign currency forward contracts to minimize currency exposure due to cash flows from foreign operations. We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. We do not enter into derivative instruments for speculative purposes. We had no derivative financial instruments outstanding at December 31, 2019 or December 31, 2018 .
Stock-based Compensation	Stock-based Compensation —We calculate the fair value of restricted stock and restricted stock units based on the closing price of our common stock on the date of grant. If award recipients are entitled to receive dividends during the vesting period, we make no adjustment to the fair value of the award for dividends. If the award does not entitle recipients to dividends during the vesting period, we reduce the grant-date price of our common stock by the present value of the dividends expected to be paid on the underlying shares during the vesting period, discounted at the risk-free interest rate. We recognize stock-based compensation expense for the number of awards expected to vest on a straight-line basis over the requisite service period.
Estimates and Risks Due to Concentration of Business	Estimates and Risks Due to Concentration of Business —The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. In addition, our financial results can be influenced by certain risk factors. Some of our significant concentrations of risk include the following: • reliance on a small number of significant customers; • customers concentrated in the fuel and lubricant industries; and • production of several of our products solely at one facility.
Debt, Policy [Policy Text Block]	Long-term debt - We record the carrying amount of our long-term debt at historical cost, less deferred financing costs related to the 4.10%

Net Sales (Tables)

Net Sales (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table provides information on our net sales by geographic area. Information on net sales by segment is in Note 4. Twelve Months Ended (in thousands) 2019 2018 Net sales United States $ 728,125 $ 722,576 China 225,498 239,406 Europe, Middle East, Africa, India 700,081 756,258 Asia Pacific, except China 311,469 335,119 Other foreign 225,122 236,316 Net sales $ 2,190,295 $ 2,289,675

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share. Years Ended December 31, (in thousands, except per-share amounts) 2019 2018 2017 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 254,286 $ 234,734 $ 190,509 Earnings allocated to participating securities 441 474 356 Net income attributable to common shareholders after allocation of earnings to participating securities $ 253,845 $ 234,260 $ 190,153 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 11,166 11,515 11,824 Earnings per share - basic and diluted $ 22.73 $ 20.34 $ 16.08

Segment and Geographic Area I_2

Segment and Geographic Area Information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Net Sales by Segment	The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the last three years. Years Ended December 31, (in thousands) 2019 2018 2017 Net sales Petroleum additives Lubricant additives $ 1,778,473 $ 1,870,803 $ 1,790,254 Fuel additives 397,431 410,000 397,029 Total 2,175,904 2,280,803 2,187,283 All other 14,391 8,872 11,121 Net sales (a) $ 2,190,295 $ 2,289,675 $ 2,198,404 Segment operating profit Petroleum additives $ 359,228 $ 311,019 $ 345,017 All other (1,562 ) (3,256 ) 4,135 Segment operating profit 357,666 307,763 349,152 Corporate, general, and administrative expenses (20,345 ) (19,651 ) (26,641 ) Interest and financing expenses, net (29,241 ) (26,723 ) (21,856 ) Other income (expense), net 23,510 28,896 14,787 Income before income tax expense $ 331,590 $ 290,285 $ 315,442 (a) No single customer accounted for 10% or more of our total net sales in 2019, 2018, or 2017.
Schedule Of Segment Operating Profit	The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the last three years. Years Ended December 31, (in thousands) 2019 2018 2017 Net sales Petroleum additives Lubricant additives $ 1,778,473 $ 1,870,803 $ 1,790,254 Fuel additives 397,431 410,000 397,029 Total 2,175,904 2,280,803 2,187,283 All other 14,391 8,872 11,121 Net sales (a) $ 2,190,295 $ 2,289,675 $ 2,198,404 Segment operating profit Petroleum additives $ 359,228 $ 311,019 $ 345,017 All other (1,562 ) (3,256 ) 4,135 Segment operating profit 357,666 307,763 349,152 Corporate, general, and administrative expenses (20,345 ) (19,651 ) (26,641 ) Interest and financing expenses, net (29,241 ) (26,723 ) (21,856 ) Other income (expense), net 23,510 28,896 14,787 Income before income tax expense $ 331,590 $ 290,285 $ 315,442 (a) No single customer accounted for 10% or more of our total net sales in 2019, 2018, or 2017.
Schedule Of Asset Information By Segment	The following tables show asset information by segment and the reconciliation to consolidated assets. Segment assets consist of accounts receivable, inventory, and long-lived assets. Long-lived assets included in the petroleum additives segment amounts in the table below include property, plant, and equipment, net of depreciation and intangibles (net of amortization) and goodwill, as well as lease right-of-use assets for 2019. The additions to long-lived assets include only property, plant, and equipment for each year presented and lease right-of-use assets for 2019. December 31, (in thousands) 2019 2018 Segment assets Petroleum additives $ 1,506,690 $ 1,448,737 All other 14,519 12,200 1,521,209 1,460,937 Cash and cash equivalents 144,397 73,040 Other accounts receivable 6,068 1,310 Deferred income taxes 6,327 5,094 Prepaid expenses and other current assets 33,237 29,179 Non-segment property, plant, and equipment, net 34,648 33,134 Prepaid pension cost 133,848 88,705 Lease right-of-use assets 302 0 Deferred charges and other assets 5,096 5,875 Total assets $ 1,885,132 $ 1,697,274
Additions To Long-lived Assets And Depreciation And Amortization By Segment	Years Ended December 31, (in thousands) 2019 2018 2017 Additions to long-lived assets Petroleum additives $ 85,711 $ 72,829 $ 196,951 All other 28 0 0 Corporate 3,076 1,809 6,266 Total additions to long-lived assets $ 88,815 $ 74,638 $ 203,217 Depreciation and amortization Petroleum additives $ 84,872 $ 69,029 $ 52,266 All other 52 11 13 Corporate 2,636 2,719 3,061 Total depreciation and amortization $ 87,560 $ 71,759 $ 55,340
Schedule Of Net Sales, Total Assets, And Long-Lived Assets By Geographic Area	The tables below report net sales, total assets, and long-lived assets by geographic area, as well as by country for those countries with significant net sales or long-lived assets. Since our foreign operations are significant to our overall business, we are also presenting net sales in the table below by the major regions in which we operate. NewMarket assigns net sales to geographic areas based on the location to which the product was shipped to a third party. Long-lived assets in the table below include property, plant, and equipment, net of depreciation, and lease right-of-use assets for 2019. Years Ended December 31, (in thousands) 2019 2018 2017 Net sales United States $ 728,125 $ 722,576 $ 696,138 China 225,498 239,406 224,409 Europe, Middle East, Africa, India 700,081 756,258 742,337 Asia Pacific, except China 311,469 335,119 293,137 Other foreign 225,122 236,316 242,383 Net sales $ 2,190,295 $ 2,289,675 $ 2,198,404 December 31, (in thousands) 2019 2018 Total assets United States $ 728,571 $ 586,339 Foreign 1,156,561 1,110,935 Total assets $ 1,885,132 $ 1,697,274 Long-lived assets United States $ 275,646 $ 226,191 Singapore 287,276 280,340 Other foreign 145,862 137,607 Total long-lived assets $ 708,784 $ 644,138

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Schedule Of Supplemental Cash Flow Information	Years Ended December 31, (in thousands) 2019 2018 2017 Cash paid during the year for Interest and financing expenses (net of capitalization) $ 28,523 $ 28,915 $ 20,376 Income taxes 64,899 76,859 59,010 Supplemental disclosure of non-cash transactions: Non-cash additions to property, plant, and equipment $ 6,025 $ 3,076 $ 11,209 Non-cash obligation under capital lease 0 0 1,341

Trade and Other Accounts Rece_2

Trade and Other Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Schedule of Trade and Other Accounts Receivable, Net	December 31, (in thousands) 2019 2018 Trade receivables $ 289,737 $ 276,667 Income tax receivables 16,021 12,210 Other 30,068 25,983 $ 335,826 $ 314,860

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Schedule Of Inventories	December 31, (in thousands) 2019 2018 Finished goods and work-in-process $ 295,997 $ 319,120 Raw materials 55,702 63,403 Stores, supplies, and other 14,239 13,818 $ 365,938 $ 396,341

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	December 31, (in thousands) 2019 2018 Dividend funding $ 19,217 $ 17,923 Income taxes on intercompany profit 5,756 6,431 Other 8,264 4,825 $ 33,237 $ 29,179

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, at Cost (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule Of Property, Plant, And Equipment, At Cost	December 31, (in thousands) 2019 2018 Land $ 40,938 $ 39,396 Land improvements 57,635 54,937 Leasehold improvements 2,122 1,968 Buildings 174,600 166,566 Machinery and equipment 1,161,409 1,143,106 Construction in progress 29,228 20,140 1,465,932 1,426,113 Less accumulated depreciation and amortization 830,493 781,975 Net property, plant, and equipment $ 635,439 $ 644,138
Schedule Of Useful Lives Of Property, Plant, And Equipment	We depreciate the cost of property, plant, and equipment by the straight-line method over the following estimated useful lives: Land improvements 9 - 25 years Buildings 10 - 46 years Machinery and equipment 3 - 30 years

Intangibles (Net of Amortizat_2

Intangibles (Net of Amortization) and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Intangible Assets and Goodwill	The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below. December 31, 2019 2018 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizing intangible assets Formulas and technology $ 9,600 $ 5,416 $ 9,600 $ 3,250 Contract 2,000 600 2,000 400 Customer bases 14,240 10,931 14,240 9,091 Goodwill 122,987 122,940 $ 148,827 $ 16,947 $ 148,780 $ 12,741 Aggregate amortization expense $ 4,206 $ 7,413
Schedule Of Estimated Annual Amortization Expense Related To Intangible Assets	Estimated annual amortization expense related to our intangible assets for the next five years is expected to be (in thousands): 2020 $ 2,907 2021 2,156 2022 1,423 2023 907 2024 390

Deferred Charges and Other As_2

Deferred Charges and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Other Assets, Noncurrent [Abstract]
Schedule Of Deferred Charges and Other Assets	December 31, (in thousands) 2019 2018 Deposit on future leased plant and equipment $ 12,958 $ 0 Finance lease right-of-use assets 12,840 0 Asbestos insurance receivables 5,528 3,727 Deferred financing costs, net of amortization 1,507 2,060 Other 4,902 4,091 $ 37,735 $ 9,878

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2019
Accrued Liabilities, Current [Abstract]
Schedule Of Accrued Expenses	December 31, (in thousands) 2019 2018 Employee benefits, payroll, and related taxes $ 33,806 $ 30,824 Customer rebates 22,682 24,822 Interest on long-term debt 5,290 5,388 Taxes other than income and payroll 3,631 5,778 Other 11,941 24,390 $ 77,350 $ 91,202

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Long-term Debt and Lease Obligation [Abstract]
Schedule Of Long-Term Debt	December 31, (in thousands) 2019 2018 Senior notes - 4.10% due 2022 (net of related deferred financing costs) $ 348,263 $ 347,677 Senior notes - 3.78% due 2029 250,000 250,000 Revolving credit facility 44,678 168,129 Capital lease obligations 0 5,193 $ 642,941 $ 770,999

Other Noncurrent Liabilities (T

Other Noncurrent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Other Liabilities, Noncurrent [Abstract]
Schedule Of Other Noncurrent Liabilities	December 31, (in thousands) 2019 2018 Employee benefits $ 92,711 $ 81,473 Deferred income taxes 57,196 43,071 Finance lease liabilities 11,119 0 Asbestos litigation reserve 10,534 8,296 Environmental remediation 9,204 9,854 Deemed repatriation of earnings 2,956 2,956 Other 19,686 19,417 $ 203,406 $ 165,067

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Restricted Stock and Restricted Stock Unit Activity	A summary of activity during 2019 related to NewMarket’s restricted stock and restricted stock units (stock awards) is presented below in whole shares: Number of Shares Weighted Average Grant-Date Fair Value Unvested stock awards at January 1, 2019 19,328 $ 414.52 Granted in 2019 6,326 440.42 Vested in 2019 2,001 381.99 Forfeited in 2019 2,542 399.78 Unvested stock awards at December 31, 2019 21,111 427.14

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Year Ended December 31, (in thousands) 2019 Operating lease cost $ 17,414 Finance lease cost: Amortization of assets 2,723 Interest on lease liabilities 426 Short-term lease cost 3,459 Variable lease cost 3,206 Total lease cost $ 27,228
Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases was as follows: (in thousands) Balance Sheet Classification December 31, Operating leases: Operating lease right-of-use assets Operating lease right-of-use assets $ 60,505 Current liability Operating lease liabilities $ 14,036 Noncurrent liability Operating lease liabilities-noncurrent 46,792 $ 60,828 Finance leases: Finance lease right-of-use assets Deferred charges and other assets $ 12,840 Current liability Other current liabilities $ 3,019 Noncurrent liability Other noncurrent liabilities 11,119 $ 14,138 December 31, Weighted average remaining lease term (in years): Operating leases 14 Finance leases 9 Weighted average incremental borrowing rate: Operating leases 3.88 % Finance leases 3.41 %
Supplemental Cash Flow and Other Information	Supplemental cash flow information related to leases was as follows: Twelve Months Ended December 31, (in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 16,765 Operating cash flows from finance leases 426 Financing cash flows from finance leases 2,649 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 18,826 Finance leases 10,555
Maturities of Operating And Finance Lease Liabilities	Maturities of lease liabilities as of December 31, 2019 were as follows: (in thousands) Operating Leases Finance Leases 2020 $ 16,019 $ 3,443 2021 11,791 2,423 2022 9,105 1,390 2023 7,516 1,172 2024 4,244 1,127 Thereafter 33,155 6,745 Total lease payments 81,830 16,300 Less: imputed interest 21,002 2,162 Total lease obligations $ 60,828 $ 14,138
Schedule of Future Lease Payments for Noncancelable Operating Leases	Under the authoritative accounting guidance in effect at December 31, 2018, future lease payments for all noncancelable operating leases as of December 31, 2018 were (in thousands): 2019 $ 17,223 2020 15,035 2021 10,502 2022 7,957 2023 6,810 After 2023 24,490

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost (Income)	The components of net periodic pension and postretirement benefit cost (income), as well as other amounts recognized in other comprehensive income (loss), are shown below. Years Ended December 31, Pension Benefits Postretirement Benefits (in thousands) 2019 2018 2017 2019 2018 2017 Net periodic benefit cost (income) Service cost $ 13,471 $ 15,391 $ 13,679 $ 718 $ 896 $ 774 Interest cost 14,509 13,256 13,289 1,514 1,458 1,582 Expected return on plan assets (34,632 ) (29,883 ) (26,146 ) (947 ) (969 ) (1,197 ) Amortization of prior service cost (credit) 178 25 26 (3,028 ) (3,028 ) (3,029 ) Amortization of actuarial net (gain) loss 2,951 5,139 4,725 0 0 0 Net periodic benefit cost (income) (3,523 ) 3,928 5,573 (1,743 ) (1,643 ) (1,870 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (36,814 ) 29,215 (13,386 ) 3,049 (2,190 ) 2,635 Prior service cost (credit) 1,013 0 0 0 0 0 Amortization of actuarial net gain (loss) (2,951 ) (5,139 ) (4,725 ) 0 0 0 Amortization of prior service (cost) credit (178 ) (25 ) (26 ) 3,028 3,028 3,029 Total recognized in other comprehensive income (loss) (38,930 ) 24,051 (18,137 ) 6,077 838 5,664 Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (42,453 ) $ 27,979 $ (12,564 ) $ 4,334 $ (805 ) $ 3,794 The components of net periodic pension cost (income), as well as other amounts recognized in other comprehensive income (loss), for these foreign defined benefit pension plans are shown below. Years Ended December 31, (in thousands) 2019 2018 2017 Net periodic benefit cost (income) Service cost $ 6,430 $ 7,271 $ 7,437 Interest cost 4,768 4,514 4,314 Expected return on plan assets (9,084 ) (9,918 ) (8,479 ) Amortization of prior service cost (credit) (42 ) (81 ) (79 ) Amortization of actuarial net (gain) loss 938 597 959 Net periodic benefit cost (income) 3,010 2,383 4,152 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss 11,074 4,532 (3,029 ) Prior service cost (credit) 0 537 0 Amortization of actuarial net gain (loss) (938 ) (597 ) (959 ) Amortization of prior service (cost) credit 42 81 79 Total recognized in other comprehensive income (loss) 10,178 4,553 (3,909 ) Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ 13,188 $ 6,936 $ 243
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	The components of net periodic pension cost (income), as well as other amounts recognized in other comprehensive income (loss), for these foreign defined benefit pension plans are shown below. Years Ended December 31, (in thousands) 2019 2018 2017 Net periodic benefit cost (income) Service cost $ 6,430 $ 7,271 $ 7,437 Interest cost 4,768 4,514 4,314 Expected return on plan assets (9,084 ) (9,918 ) (8,479 ) Amortization of prior service cost (credit) (42 ) (81 ) (79 ) Amortization of actuarial net (gain) loss 938 597 959 Net periodic benefit cost (income) 3,010 2,383 4,152 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss 11,074 4,532 (3,029 ) Prior service cost (credit) 0 537 0 Amortization of actuarial net gain (loss) (938 ) (597 ) (959 ) Amortization of prior service (cost) credit 42 81 79 Total recognized in other comprehensive income (loss) 10,178 4,553 (3,909 ) Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ 13,188 $ 6,936 $ 243 The components of net periodic pension and postretirement benefit cost (income), as well as other amounts recognized in other comprehensive income (loss), are shown below. Years Ended December 31, Pension Benefits Postretirement Benefits (in thousands) 2019 2018 2017 2019 2018 2017 Net periodic benefit cost (income) Service cost $ 13,471 $ 15,391 $ 13,679 $ 718 $ 896 $ 774 Interest cost 14,509 13,256 13,289 1,514 1,458 1,582 Expected return on plan assets (34,632 ) (29,883 ) (26,146 ) (947 ) (969 ) (1,197 ) Amortization of prior service cost (credit) 178 25 26 (3,028 ) (3,028 ) (3,029 ) Amortization of actuarial net (gain) loss 2,951 5,139 4,725 0 0 0 Net periodic benefit cost (income) (3,523 ) 3,928 5,573 (1,743 ) (1,643 ) (1,870 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (36,814 ) 29,215 (13,386 ) 3,049 (2,190 ) 2,635 Prior service cost (credit) 1,013 0 0 0 0 0 Amortization of actuarial net gain (loss) (2,951 ) (5,139 ) (4,725 ) 0 0 0 Amortization of prior service (cost) credit (178 ) (25 ) (26 ) 3,028 3,028 3,029 Total recognized in other comprehensive income (loss) (38,930 ) 24,051 (18,137 ) 6,077 838 5,664 Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (42,453 ) $ 27,979 $ (12,564 ) $ 4,334 $ (805 ) $ 3,794
Schedule of Changes in the Plans' Benefit Obligations and Assets	Changes in the benefit obligations and assets of the foreign defined benefit pension plans follow. December 31, (in thousands) 2019 2018 Change in benefit obligation Benefit obligation at beginning of year $ 173,620 $ 185,815 Service cost 6,430 7,271 Interest cost 4,768 4,514 Employee contributions 680 737 Actuarial net (gain) loss 21,558 (10,976 ) Benefits paid (5,977 ) (4,144 ) Foreign currency translation 4,979 (9,597 ) Benefit obligation at end of year 206,058 173,620 Change in plan assets Fair value of plan assets at beginning of year 163,746 176,968 Actual return on plan assets 19,591 (6,357 ) Employer contributions 5,586 5,968 Employee contributions 680 737 Benefits paid (5,977 ) (4,144 ) Foreign currency translation 5,829 (9,426 ) Fair value of plan assets at end of year 189,455 163,746 Funded status $ (16,603 ) $ (9,874 ) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 11,880 $ 13,499 Current liabilities (297 ) (301 ) Noncurrent liabilities (28,186 ) (23,072 ) $ (16,603 ) $ (9,874 ) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ 52,902 $ 42,766 Prior service cost (credit) 778 736 $ 53,680 $ 43,502 Changes in the plans’ benefit obligations and assets follow. December 31, Pension Benefits Postretirement Benefits (in thousands) 2019 2018 2019 2018 Change in benefit obligation Benefit obligation at beginning of year $ 349,212 $ 358,812 $ 37,512 $ 40,438 Service cost 13,471 15,391 718 896 Interest cost 14,509 13,256 1,514 1,458 Actuarial net (gain) loss 38,045 (26,957 ) 3,165 (2,355 ) Plan amendment 1,014 0 0 0 Benefits paid (13,195 ) (11,290 ) (2,589 ) (2,925 ) Benefit obligation at end of year 403,056 349,212 40,320 37,512 Change in plan assets Fair value of plan assets at beginning of year 384,552 365,421 22,378 22,904 Actual return on plan assets 109,493 (26,289 ) 1,063 803 Employer contributions 2,973 56,710 1,240 1,596 Benefits paid (13,195 ) (11,290 ) (2,589 ) (2,925 ) Fair value of plan assets at end of year 483,823 384,552 22,092 22,378 Funded status $ 80,767 $ 35,340 $ (18,228 ) $ (15,134 ) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 121,968 $ 75,206 $ 0 $ 0 Current liabilities (2,920 ) (2,788 ) (1,164 ) (1,215 ) Noncurrent liabilities (38,281 ) (37,078 ) (17,064 ) (13,919 ) $ 80,767 $ 35,340 $ (18,228 ) $ (15,134 ) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ 73,261 $ 113,026 $ 2,569 $ (480 ) Prior service cost (credit) 842 7 (22,647 ) (25,675 ) $ 74,103 $ 113,033 $ (20,078 ) $ (26,155 )
Schedule of Amounts Recognized in the Consolidated Balance Sheets	Changes in the plans’ benefit obligations and assets follow. December 31, Pension Benefits Postretirement Benefits (in thousands) 2019 2018 2019 2018 Change in benefit obligation Benefit obligation at beginning of year $ 349,212 $ 358,812 $ 37,512 $ 40,438 Service cost 13,471 15,391 718 896 Interest cost 14,509 13,256 1,514 1,458 Actuarial net (gain) loss 38,045 (26,957 ) 3,165 (2,355 ) Plan amendment 1,014 0 0 0 Benefits paid (13,195 ) (11,290 ) (2,589 ) (2,925 ) Benefit obligation at end of year 403,056 349,212 40,320 37,512 Change in plan assets Fair value of plan assets at beginning of year 384,552 365,421 22,378 22,904 Actual return on plan assets 109,493 (26,289 ) 1,063 803 Employer contributions 2,973 56,710 1,240 1,596 Benefits paid (13,195 ) (11,290 ) (2,589 ) (2,925 ) Fair value of plan assets at end of year 483,823 384,552 22,092 22,378 Funded status $ 80,767 $ 35,340 $ (18,228 ) $ (15,134 ) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 121,968 $ 75,206 $ 0 $ 0 Current liabilities (2,920 ) (2,788 ) (1,164 ) (1,215 ) Noncurrent liabilities (38,281 ) (37,078 ) (17,064 ) (13,919 ) $ 80,767 $ 35,340 $ (18,228 ) $ (15,134 ) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ 73,261 $ 113,026 $ 2,569 $ (480 ) Prior service cost (credit) 842 7 (22,647 ) (25,675 ) $ 74,103 $ 113,033 $ (20,078 ) $ (26,155 ) Changes in the benefit obligations and assets of the foreign defined benefit pension plans follow. December 31, (in thousands) 2019 2018 Change in benefit obligation Benefit obligation at beginning of year $ 173,620 $ 185,815 Service cost 6,430 7,271 Interest cost 4,768 4,514 Employee contributions 680 737 Actuarial net (gain) loss 21,558 (10,976 ) Benefits paid (5,977 ) (4,144 ) Foreign currency translation 4,979 (9,597 ) Benefit obligation at end of year 206,058 173,620 Change in plan assets Fair value of plan assets at beginning of year 163,746 176,968 Actual return on plan assets 19,591 (6,357 ) Employer contributions 5,586 5,968 Employee contributions 680 737 Benefits paid (5,977 ) (4,144 ) Foreign currency translation 5,829 (9,426 ) Fair value of plan assets at end of year 189,455 163,746 Funded status $ (16,603 ) $ (9,874 ) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 11,880 $ 13,499 Current liabilities (297 ) (301 ) Noncurrent liabilities (28,186 ) (23,072 ) $ (16,603 ) $ (9,874 ) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ 52,902 $ 42,766 Prior service cost (credit) 778 736 $ 53,680 $ 43,502
Schedule of Plans With the Benefit Obligation in Excess of the Fair Market Value of Plan Assets	The first table below shows information on foreign pension plans with the accumulated benefit obligation in excess of plan assets. The second table shows information on foreign pension plans with the projected benefit obligation in excess of plan assets. December 31, (in thousands) 2019 2018 Plans with the accumulated benefit obligation in excess of the fair market value of plan assets Projected benefit obligation $ 41,126 $ 33,730 Accumulated benefit obligation 27,879 22,803 Fair market value of plan assets 12,642 10,618 December 31, (in thousands) 2019 2018 Plans with the projected benefit obligation in excess of the fair market value of plan assets Projected benefit obligation $ 41,126 $ 35,970 Fair market value of plan assets 12,642 12,597 The first table below shows information on domestic pension plans with the accumulated benefit obligation in excess of plan assets. The second table presents information on domestic pension plans with the projected benefit obligation in excess of plan assets. December 31, (in thousands) 2019 2018 Plans with the accumulated benefit obligation in excess of the fair market value of plan assets Projected benefit obligation $ 41,201 $ 39,866 Accumulated benefit obligation 38,167 36,586 Fair market value of plan assets 0 0 December 31, (in thousands) 2019 2018 Plans with the projected benefit obligation in excess of the fair market value of plan assets Projected benefit obligation $ 41,201 $ 39,866 Fair market value of plan assets 0 0
Schedule of Assumptions to Calculate the Results of Our Retirement Plans	We used the following assumptions to calculate the results of our retirement plans: Pension Benefits Postretirement Benefits 2019 2018 2017 2019 2018 2017 Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31, Discount rate 4.25 % 3.75 % 4.25 % 4.25 % 3.75 % 4.25 % Expected long-term rate of return on plan assets 8.50 % 8.50 % 8.50 % 4.50 % 4.50 % 5.50 % Rate of projected compensation increase 3.50 % 3.50 % 3.50 % Weighted-average assumptions used to determine benefit obligations at December 31, Discount rate 3.50 % 4.25 % 3.75 % 3.50 % 4.25 % 3.75 % Rate of projected compensation increase 3.50 % 3.50 % 3.50 % 2019 2018 2017 Weighted-average assumptions used to determine net periodic benefit cost (income) for the years ended December 31, Discount rate 2.67 % 2.36 % 2.53 % Expected long-term rate of return on plan assets 5.58 % 5.50 % 5.50 % Rate of projected compensation increase 4.10 % 4.14 % 4.20 % Weighted-average assumptions used to determine benefit obligations at December 31, Discount rate 1.81 % 2.67 % 2.36 % Rate of projected compensation increase 3.96 % 4.10 % 4.14 %
Schedule of Fair Value of Pension and Postretirement Benefit Plans Assets	The following table provides information on the fair value of our foreign pension plans assets, as well as the related level within the fair value hierarchy. Investments that are measured at fair value using net asset value per share (or its equivalent) have not been classified by level in the fair value hierarchy. December 31, 2019 December 31, 2018 Fair Value Measurements Using Fair Value Measurements Using (in thousands) Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Insurance contract $ 10,706 $ 0 $ 10,706 $ 0 $ 10,618 $ 0 $ 10,618 $ 0 Equity securities—international companies 691 691 0 0 684 684 0 0 Debt securities 663 646 17 0 756 698 58 0 Pooled investment funds—mutual funds 582 582 0 0 538 538 0 0 Cash and cash equivalents 131 131 0 0 66 66 0 0 Pooled investment funds (measured at net asset value): Equity securities—U.S. companies 13,074 10,294 Equity securities—international companies 60,945 49,610 Debt securities 67,094 60,480 Diversified growth funds 35,569 30,700 $ 189,455 $ 2,050 $ 10,723 $ 0 $ 163,746 $ 1,986 $ 10,676 $ 0 The following table provides information on the fair value of our pension and postretirement benefit plans assets, as well as the related level within the fair value hierarchy. Investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified by level in the fair value hierarchy. December 31, 2019 December 31, 2018 Fair Value Measurements Using Fair Value Measurements Using (in thousands) Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Pension Plans Equity securities: U. S. companies $ 338,564 $ 338,564 $ 0 $ 0 $ 280,717 $ 280,717 $ 0 $ 0 International companies 20,751 20,751 0 0 4,223 4,223 0 0 Money market instruments 17,618 17,618 0 0 13,099 13,099 0 0 Pooled investment funds: Fixed income securities—mutual funds 9,576 9,576 0 0 9,039 9,039 0 0 International equities—mutual fund 17,378 17,378 0 0 14,302 14,302 0 0 Common collective trusts measured at net asset value 78,256 61,254 Insurance contract 1,680 0 1,680 0 1,918 0 1,918 0 $ 483,823 $ 403,887 $ 1,680 $ 0 $ 384,552 $ 321,380 $ 1,918 $ 0 Postretirement Plans Insurance contract $ 22,092 $ 0 $ 22,092 $ 0 $ 22,378 $ 0 $ 22,378 $ 0
Schedule of Expected Benefit Payments	The expected benefit payments for the next ten years are as follows. (in thousands) Expected Pension Benefit Payments Expected Postretirement Benefit Payments 2020 $ 13,011 $ 2,553 2021 13,809 2,420 2022 14,687 2,296 2023 15,659 2,194 2024 16,689 2,094 2025 through 2029 98,827 9,906 (in thousands) Expected Pension Benefit Payments 2020 $ 5,662 2021 5,830 2022 4,390 2023 6,187 2024 8,186 2025 through 2029 33,050

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Tax Expense	Our income before income tax expense, as well as our provision for income taxes is shown in the table below. Years Ended December 31, (in thousands) 2019 2018 2017 Income before income tax expense Domestic $ 183,907 $ 157,459 $ 140,779 Foreign 147,683 132,826 174,663 $ 331,590 $ 290,285 $ 315,442 Income tax expense Current income taxes Federal $ 29,955 $ 9,153 $ 61,188 State 9,551 4,679 3,942 Foreign 30,414 27,192 32,428 69,920 41,024 97,558 Deferred income taxes Federal 1,671 16,545 15,901 State 630 2,888 3,633 Foreign 5,083 (4,906 ) 7,841 7,384 14,527 27,375 Total income tax expense $ 77,304 $ 55,551 $ 124,933
Schedule of Provision for Income Taxes	Our income before income tax expense, as well as our provision for income taxes is shown in the table below. Years Ended December 31, (in thousands) 2019 2018 2017 Income before income tax expense Domestic $ 183,907 $ 157,459 $ 140,779 Foreign 147,683 132,826 174,663 $ 331,590 $ 290,285 $ 315,442 Income tax expense Current income taxes Federal $ 29,955 $ 9,153 $ 61,188 State 9,551 4,679 3,942 Foreign 30,414 27,192 32,428 69,920 41,024 97,558 Deferred income taxes Federal 1,671 16,545 15,901 State 630 2,888 3,633 Foreign 5,083 (4,906 ) 7,841 7,384 14,527 27,375 Total income tax expense $ 77,304 $ 55,551 $ 124,933
Reconciliation Of U.S. Federal Statutory Rate To Effective Income Tax Rate	The reconciliation of the U.S. federal statutory rate to the effective income tax rate follows. % of Income Before Income Tax Expense 2019 2018 2017 Federal statutory rate 21.0 % 21.0 % 35.0 % State taxes, net of federal tax 2.4 2.1 1.6 Foreign operations 1.7 (0.9 ) (4.4 ) Research tax credit (1.7 ) (1.5 ) (1.1 ) Foreign-derived intangible tax benefit (2.1 ) (2.4 ) 0.0 U.S. minimum tax on foreign income 1.0 1.5 0.0 Domestic manufacturing tax benefit 0.0 0.0 (0.8 ) Deemed repatriation of foreign earnings 0.0 0.5 10.1 Change in U.S. tax rate 0.0 (2.0 ) 0.2 Other items and adjustments 1.0 0.8 (1.0 ) Effective income tax rate 23.3 % 19.1 % 39.6 %
Schedule of Deferred Income Tax Assets and Liabilities	Our deferred income tax assets and liabilities follow. December 31, (in thousands) 2019 2018 Deferred income tax assets Future employee benefits $ 0 $ 4,550 Operating loss and credit carryforwards 13,375 16,578 Trademark expenses 3,892 3,833 Foreign currency translation adjustments 4,772 4,708 Other 7,015 5,925 Gross deferred income tax assets 29,054 35,594 Valuation allowance (13,152 ) (13,059 ) Total deferred income tax assets 15,902 22,535 Deferred income tax liabilities Depreciation and amortization 56,618 51,601 Future employee benefits 4,064 0 Inventory 266 3,973 Other 5,823 4,938 Total deferred income tax liabilities 66,771 60,512 Net deferred income tax (liabilities) assets $ (50,869 ) $ (37,977 ) Reconciliation to financial statements Deferred income tax assets $ 6,327 $ 5,094 Deferred income tax liabilities 57,196 43,071 Net deferred income tax (liabilities) assets $ (50,869 ) $ (37,977 )
Schedule of Reconciliation Of Unrecognized Tax Benefits	A reconciliation of the beginning and ending balances of the unrecognized tax benefits from uncertain positions is as follows: December 31, (in thousands) 2019 2018 2017 Balance at beginning of year $ 10,660 $ 9,102 $ 8,810 Increases for tax positions of prior years 3,176 2,123 865 Increases for tax positions of the current year 703 614 453 Settlements (440 ) (252 ) (260 ) Lapses of statutes (556 ) (927 ) (766 ) Balance at end of year $ 13,543 $ 10,660 $ 9,102

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Estimated Fair Value Of Long-Term Debt	December 31, 2019 December 31, 2018 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt (excluding capital lease obligations in 2018) $ 642,941 $ 677,253 $ 765,806 $ 757,414

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Future Payments for Purchase Obligations	Future payments for purchase obligations as of December 31, 2019 are (in thousands): 2020 $ 171,444 2021 148,173 2022 135,415 2023 78,232 2024 2,485 After 2024 14,270

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss, Net of Tax	following: (in thousands) Pension Plans Foreign Currency Translation Adjustments Accumulated Other Balance at December 31, 2016 $ (76,187 ) $ (106,323 ) $ (182,510 ) Other comprehensive income (loss) before reclassifications 10,966 23,849 34,815 Amounts reclassified from accumulated other comprehensive loss (a) 1,701 0 1,701 Other comprehensive income (loss) 12,667 23,849 36,516 Balance at December 31, 2017 (63,520 ) (82,474 ) (145,994 ) Other comprehensive income (loss) before reclassifications (25,027 ) (12,287 ) (37,314 ) Amounts reclassified from accumulated other comprehensive loss (a) 1,992 0 1,992 Other comprehensive income (loss) (23,035 ) (12,287 ) (35,322 ) Balance at December 31, 2018 (86,555 ) (94,761 ) (181,316 ) Other comprehensive income (loss) before reclassifications 15,983 1,808 17,791 Amounts reclassified from accumulated other comprehensive loss (a) 777 0 777 Other comprehensive income (loss) 16,760 1,808 18,568 Balance at December 31, 2019 $ (69,795 ) $ (92,953 ) $ (162,748 ) (a) The pension plan and other postretirement benefit components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income). See Note 17 for further information.

Selected Quarterly Consolidat_2

Selected Quarterly Consolidated Financial Data (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Selected Quarterly Financial Information [Abstract]
Schedule Of Selected Quarterly Consolidated Financial Data (unaudited)	(in thousands, except per-share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter 2019 Net sales $ 536,616 $ 563,417 $ 555,817 $ 534,445 Gross profit 152,869 170,833 162,727 143,440 Net income 62,205 74,174 67,805 50,102 Earnings per share - basic and diluted 5.57 6.63 6.06 4.48 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Net sales $ 589,245 $ 598,952 $ 563,166 $ 538,312 Gross profit 156,783 145,859 140,883 141,838 Net income 60,565 52,885 58,481 62,803 Earnings per share - basic and diluted 5.14 4.53 5.12 5.58

Net Sales (Narrative) (Details)

Net Sales (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Customer Prepayment Current	$ 1,000	$ 1,000
Revenue Recognized in the Current Period From Funds Collected in Advance from Customers in Earlier Periods	1,000	3,000
Change in Net Sales Related To Adjustments To Rebates Or Business Development Fund Recognized in Revenue in a Prior Period	1,000	3,000
Customer rebates	22,682	24,822
Customer Rebates Current	$ 2,000	$ 2,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)company	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating companies under parent company | company	3
Foreign currency transaction adjustments	$ (4)	$ (8)	$ 5
Contributions by employer for employee savings plans	$ 6	$ 6	$ 6
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Short-term Lease, Commitment [true false]	false
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents maturity, days	90 days

Net Sales (Schedule of Net Sale

Net Sales (Schedule of Net Sales by Geographical Area) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 534,445	$ 555,817	$ 563,417	$ 536,616	$ 538,312	$ 563,166	$ 598,952	$ 589,245	$ 2,190,295	$ 2,289,675	$ 2,198,404
United States
Disaggregation of Revenue [Line Items]
Net sales									728,125	722,576	696,138
China
Disaggregation of Revenue [Line Items]
Net sales									225,498	239,406	224,409
Europe, Middle East, Africa, India
Disaggregation of Revenue [Line Items]
Net sales									700,081	756,258	742,337
Asia Pacific, except China
Disaggregation of Revenue [Line Items]
Net sales									311,469	335,119	293,137
Other foreign
Disaggregation of Revenue [Line Items]
Net sales									$ 225,122	$ 236,316	$ 242,383

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Anti-dilutive shares that were excluded from the calculation of diluted earnings per share (in shares)									20,441	18,892	16,708
Earnings per share numerator:
Net income attributable to common shareholders before allocation of earnings to participating securities	$ 50,102	$ 67,805	$ 74,174	$ 62,205	$ 62,803	$ 58,481	$ 52,885	$ 60,565	$ 254,286	$ 234,734	$ 190,509
Earnings allocated to participating securities									441	474	356
Net income attributable to common shareholders after allocation of earnings to participating securities									$ 253,845	$ 234,260	$ 190,153
Earnings per share denominator:
Weighted-average number of shares of common stock outstanding - basic and diluted									11,166,000	11,515,000	11,824,000
Earnings per share - basic and diluted	$ 4.48	$ 6.06	$ 6.63	$ 5.57	$ 5.58	$ 5.12	$ 4.53	$ 5.14	$ 22.73	$ 20.34	$ 16.08

Segment and Geographic Area I_3

Segment and Geographic Area Information (Schedule Of Net Sales And Operating Profit By Segment) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)customer	Dec. 31, 2018USD ($)customer	Dec. 31, 2017USD ($)customer
Segment Reporting Information [Line Items]
Net sales	$ 534,445	$ 555,817	$ 563,417	$ 536,616	$ 538,312	$ 563,166	$ 598,952	$ 589,245	$ 2,190,295	$ 2,289,675	$ 2,198,404
Segment operating profit									337,321	292,674	322,734
Corporate, general, and administrative expenses									(148,083)	(152,400)	(167,651)
Interest and financing expenses, net									(29,241)	(26,723)	(21,856)
Other income (expense), net									23,510	24,334	14,564
Income before income tax expense									$ 331,590	$ 290,285	$ 315,442
Number Of Customers That Exceeded Threshold Percentage | customer									0	0	0
Operating Segments [Member]
Segment Reporting Information [Line Items]
Segment operating profit									$ 357,666	$ 307,763	$ 349,152
Operating Segments [Member] | Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Net sales									2,175,904	2,280,803	2,187,283
Segment operating profit									359,228	311,019	345,017
Operating Segments [Member] | All Other [Member]
Segment Reporting Information [Line Items]
Net sales									14,391	8,872	11,121
Segment operating profit									(1,562)	(3,256)	4,135
Operating Segments [Member] | Lubricant additives [Member] | Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Net sales									1,778,473	1,870,803	1,790,254
Operating Segments [Member] | Fuel additives [Member] | Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Net sales									397,431	410,000	397,029
Corporate [Member]
Segment Reporting Information [Line Items]
Corporate, general, and administrative expenses									(20,345)	(19,651)	(26,641)
Interest and financing expenses, net									(29,241)	(26,723)	(21,856)
Other income (expense), net									$ 23,510	$ 28,896	$ 14,787

Segment and Geographic Area I_4

Segment and Geographic Area Information (Schedule Of Asset Information By Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total assets	$ 1,885,132	$ 1,697,274
Cash and cash equivalents	144,397	73,040
Trade and other accounts receivable, net	335,826	314,860
Deferred Income Tax Assets, Net	6,327	5,094
Prepaid expenses and other current assets	33,237	29,179
Property, plant, and equipment, net	635,439	644,138
Prepaid pension cost	133,848	88,705
Deferred charges and other assets	37,735	9,878
Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Total assets	1,506,690	1,448,737
All Other [Member]
Segment Reporting Information [Line Items]
Total assets	14,519	12,200
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	1,521,209	1,460,937
Corporate [Member]
Segment Reporting Information [Line Items]
Cash and cash equivalents	144,397	73,040
Trade and other accounts receivable, net	6,068	1,310
Deferred Income Tax Assets, Net	6,327	5,094
Prepaid expenses and other current assets	33,237	29,179
Property, plant, and equipment, net	34,648	33,134
Prepaid pension cost	133,848	88,705
Lease right-of-use assets	302	0
Deferred charges and other assets	$ 5,096	$ 5,875

Segment and Geographic Area I_5

Segment and Geographic Area Information (Schedule of Additions to Long-lived Assets and Depreciation and Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Additions to long-lived assets	$ 88,815	$ 74,638	$ 203,217
Depreciation and amortization	87,560	71,759	55,340
Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Additions to long-lived assets	85,711	72,829	196,951
Depreciation and amortization	84,872	69,029	52,266
All Other [Member]
Segment Reporting Information [Line Items]
Additions to long-lived assets	28	0	0
Depreciation and amortization	52	11	13
Corporate [Member]
Segment Reporting Information [Line Items]
Additions to long-lived assets	3,076	1,809	6,266
Depreciation and amortization	$ 2,636	$ 2,719	$ 3,061

Segment and Geographic Area I_6

Segment and Geographic Area Information (Schedule of Net Sales by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 534,445	$ 555,817	$ 563,417	$ 536,616	$ 538,312	$ 563,166	$ 598,952	$ 589,245	$ 2,190,295	$ 2,289,675	$ 2,198,404
Total assets	1,885,132				1,697,274				1,885,132	1,697,274
Long-Lived Assets	708,784				644,138				708,784	644,138
United States
Segment Reporting Information [Line Items]
Net sales									728,125	722,576	696,138
Total assets	728,571				586,339				728,571	586,339
Long-Lived Assets	275,646				226,191				275,646	226,191
China
Segment Reporting Information [Line Items]
Net sales									225,498	239,406	224,409
Singapore [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	287,276				280,340				287,276	280,340
International companies
Segment Reporting Information [Line Items]
Total assets	1,156,561				1,110,935				1,156,561	1,110,935
Europe, Middle East, Africa, India
Segment Reporting Information [Line Items]
Net sales									700,081	756,258	742,337
Asia Pacific, except China
Segment Reporting Information [Line Items]
Net sales									311,469	335,119	293,137
Other foreign
Segment Reporting Information [Line Items]
Net sales									225,122	236,316	$ 242,383
Long-Lived Assets	$ 145,862				$ 137,607				$ 145,862	$ 137,607

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Schedule Of Cash Flow Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash paid during the year for
Interest and financing expenses (net of capitalization)	$ 28,523	$ 28,915	$ 20,376
Income taxes	64,899	76,859	59,010
Supplemental disclosure of non-cash transactions
Non-cash additions to property, plant, and equipment	6,025	3,076	11,209
Non-cash obligation under capital lease	$ 0	$ 0	$ 1,341

Trade and Other Accounts Rece_3

Trade and Other Accounts Receivable, Net (Schedule Of Trade And Other Accounts Receivable, Net) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Trade receivables	$ 289,737	$ 276,667
Income tax receivables	16,021	12,210
Other	30,068	25,983
Trade and other accounts receivable, net	$ 335,826	$ 314,860

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
U.S. inventories, LIFO basis	$ 116,000	$ 137,000
LIFO inventories amount below replacement cost	50,000	56,000
Inventories	365,938	396,341
International companies
Inventory [Line Items]
Inventories	$ 238,000	$ 248,000

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods and work-in-process	$ 295,997	$ 319,120
Raw materials	55,702	63,403
Stores, supplies, and other	14,239	13,818
Inventories	$ 365,938	$ 396,341

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Schedule Of Prepaid Expenses And Other Current Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Prepaid Expense and Other Assets, Current [Abstract]
Dividend funding	$ 19,217	$ 17,923
Income taxes on intercompany profit	5,756	6,431
Other	8,264	4,825
Prepaid expenses and other current assets	$ 33,237	$ 29,179

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, at Cost (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 64	$ 63	$ 51
Reduction of Property, Plant and Equipment, at cost	(90)
Reduction of Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ (90)

Property, Plant, and Equipmen_4

Property, Plant, and Equipment, at Cost (Schedule Of Property, Plant, And Equipment, At Cost) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Land	$ 40,938	$ 39,396
Land improvements	57,635	54,937
Leasehold improvements	2,122	1,968
Buildings	174,600	166,566
Machinery and equipment	1,161,409	1,143,106
Construction in progress	29,228	20,140
Property, plant, and equipment, at cost	1,465,932	1,426,113
Less accumulated depreciation and amortization	830,493	781,975
Net property, plant, and equipment	$ 635,439	$ 644,138

Property, Plant, and Equipmen_5

Property, Plant, and Equipment, at Cost (Schedule Of Useful Lives Of Property, Plant, And Equipment) (Details)	12 Months Ended
	Dec. 31, 2019
Minimum [Member] | Land Improvements [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	9 years
Minimum [Member] | Buildings [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	10 years
Minimum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	3 years
Maximum [Member] | Land Improvements [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	25 years
Maximum [Member] | Buildings [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	46 years
Maximum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	30 years

Intangibles (Net of Amortizat_3

Intangibles (Net of Amortization) and Goodwill (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Intangibles (net of amortization) and Goodwill [Line Items]
Intangibles (net of amortization) and goodwill	$ 131,880	$ 136,039
Accumulated Goodwill Impairment	0	0
Amortization of Intangible Assets	$ 4,206	$ 7,413	$ 3,000
Formulas and Technology [Member] | Minimum [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Estimated economic life, in years	3 years
Formulas and Technology [Member] | Maximum [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Estimated economic life, in years	6 years
Contracts [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Estimated economic life, in years	10 years
Customer Bases [Member] | Minimum [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Estimated economic life, in years	4 years
Customer Bases [Member] | Maximum [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Estimated economic life, in years	20 years

Intangibles (Net of Amortizat_4

Intangibles (Net of Amortization) and Goodwill (Schedule Of Information Related To Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Intangibles (net of amortization) and Goodwill [Line Items]
Amortizing intangible assets, Accumulated Amortization	$ 16,947	$ 12,741
Goodwill, Gross Carrying Amount	122,987	122,940
Amortizing intangible assets and Goodwill, Gross Carrying Amount	148,827	148,780
Aggregate amortization expense	4,206	7,413	$ 3,000
Formulas and Technology [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Amortizing intangible assets, Gross Carrying Amount	9,600	9,600
Amortizing intangible assets, Accumulated Amortization	5,416	3,250
Contracts [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Amortizing intangible assets, Gross Carrying Amount	2,000	2,000
Amortizing intangible assets, Accumulated Amortization	600	400
Customer Bases [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Amortizing intangible assets, Gross Carrying Amount	14,240	14,240
Amortizing intangible assets, Accumulated Amortization	$ 10,931	$ 9,091

Intangibles (Net of Amortizat_5

Intangibles (Net of Amortization) and Goodwill (Schedule Of Estimated Annual Amortization Expense Related To Intangible Assets) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 2,907
2021	2,156
2022	1,423
2023	907
2024	$ 390

Deferred Charges and Other As_3

Deferred Charges and Other Assets (Schedule Of Deferred Charges And Other Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred Charges and Other Assets [Line Items]
Deposit on future leased plant and equipment	$ 12,958	$ 0
Finance lease right-of-use asset	12,840	0
Asbestos insurance receivables	5,528	3,727
Deferred financing costs, net of amortization	1,507	2,060
Other	4,902	4,091
Deferred charges and other assets	$ 37,735	$ 9,878
4.10% Senior Notes [Member]
Deferred Charges and Other Assets [Line Items]
Senior notes, interest rate	4.10%	4.10%

Accrued Expenses (Schedule Of A

Accrued Expenses (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accrued Liabilities, Current [Abstract]
Employee benefits, payroll, and related taxes	$ 33,806	$ 30,824
Customer rebates	22,682	24,822
Interest on long-term debt	5,290	5,388
Taxes other than income and payroll	3,631	5,778
Other	11,941	24,390
Accrued expenses	$ 77,350	$ 91,202

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2012	Dec. 20, 2012
Debt Instrument [Line Items]
Outstanding borrowings	$ 642,941,000	$ 770,999,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Financing costs incurred			$ 2,800,000
Outstanding borrowings	$ 44,678,000	$ 168,129,000
Term of credit facility	5 years
Maximum borrowing capacity	$ 850,000,000
Increase in aggregate amount of revolving credit facility allowed	$ 425,000,000
Revolving credit facility, maturity date	Sep. 22, 2022
Average interest rate during period	3.00%	3.00%
Outstanding letters of credit	$ 3,000,000	$ 3,000,000
Unused portion of revolving credit facility	$ 803,000,000	$ 679,000,000
Basis spread on NYFRB rate	0.50%
Basis spread on adjusted LIBO rate	1.00%
Revolving Credit Facility [Member] | Letters of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75,000,000
Revolving Credit Facility [Member] | Multicurrency Borrowings [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	150,000,000
Revolving Credit Facility [Member] | Swingline Loans [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 20,000,000
Revolving Credit Facility [Member] | Loans Bearing Interest Based On ABR [Member]
Debt Instrument [Line Items]
Applicable Rate	0.125%
Revolving Credit Facility [Member] | Loans Bearing Interest Based On ABR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Applicable Rate	0.00%
Revolving Credit Facility [Member] | Loans Bearing Interest Based On ABR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Applicable Rate	0.625%
Revolving Credit Facility [Member] | Loans Bearing Interest Based On Adjusted LIBO Rate [Member]
Debt Instrument [Line Items]
Applicable Rate	1.125%
Revolving Credit Facility [Member] | Loans Bearing Interest Based On Adjusted LIBO Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Applicable Rate	1.00%
Revolving Credit Facility [Member] | Loans Bearing Interest Based On Adjusted LIBO Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Applicable Rate	1.625%
4.10% Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount of debt issued	$ 350,000,000
Senior notes, interest rate	4.10%	4.10%
Debt instrument, maturity date	2022	2022
Senior notes issue price					99.83%
Financing costs incurred				$ 5,000,000
Outstanding borrowings	$ 348,263,000	$ 347,677,000
3.78% Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount of debt issued	$ 250,000,000
Senior notes, interest rate	3.78%	3.78%	3.78%
Debt Instrument, Maturity Date	Jan. 4, 2029	Jan. 4, 2029
Annual principal payments beginning January 4, 2025	$ 50,000,000
Outstanding borrowings	$ 250,000,000	$ 250,000,000

Long-term Debt (Schedule Of Lon

Long-term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Outstanding borrowings	$ 642,941	$ 770,999
4.10% Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 348,263	$ 347,677
Senior notes, interest rate	4.10%	4.10%
Debt instrument, maturity date	2022	2022
3.78% Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 250,000	$ 250,000
Senior notes, interest rate	3.78%	3.78%	3.78%
Debt Instrument, Maturity Date	Jan. 4, 2029	Jan. 4, 2029
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 44,678	$ 168,129
Capital Lease Obligation [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 0	$ 5,193

Other Noncurrent Liabilities (S

Other Noncurrent Liabilities (Schedule Of Other Noncurrent Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Other Liabilities, Noncurrent [Abstract]
Employee benefits	$ 92,711	$ 81,473
Deferred Income Tax Liabilities, Net	57,196	43,071
Other noncurrent liabilities	11,119	0
Asbestos litigation reserve	10,534	8,296
Environmental remediation	9,204	9,854
Deemed repatriation of earnings	2,956	2,956
Other	19,686	19,417
Other noncurrent liabilities	$ 203,406	$ 165,067

Stock-based Compensation (Narra

Stock-based Compensation (Narrative) (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)director$ / sharesshares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive stock option, exercise period, maximum, in years	10 years
Maximum number of shares, options, SARs, or stock units granted or awarded in calendar year per participant	200,000
Maximum aggregate number of shares of common stock that may be issued under the Plan	1,000,000
Shares available for grant (in shares)	959,366
Restricted Stock And Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted (in shares)	6,326
Stock awards weighted average grant date fair value (in dollars per share) | $ / shares	$ 440.42	$ 415.98	$ 428.61
Fair value of shares vested | $	$ 1	$ 3	$ 3
Compensation expense | $	2	$ 2	$ 3
Unrecognized compensation expense | $	$ 4
Period for recognition of unrecognized compensation expense, in years	2 years 6 months
Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted (in shares)	1,120
Number of non-employee directors | director	5

Stock-based Compensation (Sched

Stock-based Compensation (Schedule of Restricted Stock And Restricted Stock Unit Activity) (Details) - Restricted Stock And Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of Shares
Unvested stock awards at January 1, 2019	19,328
Granted in 2019	6,326
Vested in 2019	2,001
Forfeited in 2019	2,542
Unvested stock awards at December 31, 2019	21,111	19,328
Weighted Average Grant-Date Fair Value
Unvested stock awards at January 1, 2019	$ 414.52
Granted in 2019	440.42	$ 415.98	$ 428.61
Vested in 2019	381.99
Forfeited in 2019	399.78
Unvested stock awards at December 31, 2019	$ 427.14	$ 414.52

Leases Narrative (Details)

Leases Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Operating Leases, Rent Expense, Net		$ 23	$ 33
Lessee Operating Lease Option to Extend Reasonably Certain	$ 16
Lease commitments that have not yet commenced	$ 36
Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating and finance leases remaining terms	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Operating and finance leases remaining terms	51 years

Leases Components of Lease Expe

Leases Components of Lease Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 17,414
Finance lease cost:
Amortization of assets	2,723
Interest on lease liabilities	426
Short-term lease cost	3,459
Variable lease cost	3,206
Total lease cost	$ 27,228

Leases Supplemental Balance She

Leases Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Operating leases:
Operating lease right-of-use assets	$ 60,505	$ 0
Operating lease liabilities	14,036	0
Operating lease liabilities - noncurrent	46,792	0
Total operating lease liabilities	60,828
Finance leases:
Finance lease right-of-use asset	12,840	0
Current liability	3,019
Other noncurrent liabilities	11,119	$ 0
Total finance lease liabilities	$ 14,138
Weighted average remaining lease term (in years):
Operating leases	14 years
Finance leases	9 years
Weighted average incremental borrowing rate:
Operating leases	3.88%
Finance leases	3.41%

Leases Supplemental Cash Flow a

Leases Supplemental Cash Flow and Other Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 16,765
Operating cash flows from finance leases	426
Financing cash flows from finance leases	2,649
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	18,826
Finance leases	$ 10,555

Leases Maturities of Lease Liab

Leases Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Operating Leases
2020	$ 16,019
2021	11,791
2022	9,105
2023	7,516
2024	4,244
Thereafter	33,155
Total lease payments	81,830
Less: imputed interest	21,002
Total lease obligations	60,828
Finance Leases
Finance Lease, Liability, Payments, Due Next Twelve Months	3,443
2021	2,423
2022	1,390
2023	1,172
2024	1,127
Thereafter	6,745
Total lease payments	16,300
Less: imputed interest	2,162
Total lease obligations	$ 14,138

Leases Future Operating Lease P

Leases Future Operating Lease Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 17,223
2020	15,035
2021	10,502
2022	7,957
2023	6,810
After 2023	$ 24,490

Pension Plans and Other Postr_3

Pension Plans and Other Postretirement Benefits (Narrative) (Details) $ in Millions	Jan. 01, 2020	Dec. 31, 2019USD ($)plans	Dec. 31, 2018USD ($)	Dec. 31, 2017
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans | plans		4
Actuarial net loss to be amortized from accumulated other comprehensive loss into net periodic benefit cost (income) in next fiscal year		$ (5)
Defined Benefit Plan, Accumulated Benefit Obligation		$ 346	$ 303
Expected long-term rate of return on plan assets		8.50%	8.50%	8.50%
Number of business days notice required to make withdrawals		10 days
Estimated contributions to defined benefit plans in next fiscal year		$ 3
Pension Benefits | United States | Expected
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate for inflation	2.60%
Pension Benefits | United States | U.S large cap stocks member Equity securities member | Expected
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	8.50%
Pension Benefits | United States | Debt Securities | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		3.00%
Pension Benefits | United States | Debt Securities | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		10.00%
Pension Benefits | United States | Debt Securities | Expected
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	3.60%
Pension Benefits | United States | Equities | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		90.00%
Pension Benefits | United States | Equities | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		97.00%
Pension Benefits | United States | Pooled Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Unfunded commitments - pooled investment funds		$ 0
Pension Benefits | United States | Cash and cash equivalents | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		1.00%
Pension Benefits | United States | Cash and cash equivalents | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		5.00%
Pension Benefits | Foreign Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Actuarial net loss to be amortized from accumulated other comprehensive loss into net periodic benefit cost (income) in next fiscal year		$ (1)
Defined Benefit Plan, Accumulated Benefit Obligation		$ 171	$ 146
Expected long-term rate of return on plan assets		5.58%	5.50%	5.50%
Estimated contributions to defined benefit plans in next fiscal year		$ 6
Pension Benefits | Foreign Retirement Plans | Debt Securities | Pooled Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		37.00%
Pension Benefits | Foreign Retirement Plans | Equities | Pooled Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		38.00%
Pension Benefits | Foreign Retirement Plans | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		6.00%
Pension Benefits | Foreign Retirement Plans | Pooled investment funds Diversified growth funds
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		19.00%
Pension Benefits | UNITED KINGDOM | Pooled Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Unfunded commitments - pooled investment funds		$ 0
Pension Benefits | CANADA | Pooled Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Unfunded commitments - pooled investment funds		0
Postretirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit) to be amortized from accumulated other comprehensive loss into net periodic benefit cost (income) in next fiscal year		$ (3)
Expected long-term rate of return on plan assets		4.50%	4.50%	5.50%
Estimated contributions to defined benefit plans in next fiscal year		$ 1

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefits (Summary Of Components Of Net Periodic Benefit Cost (Income)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Benefits | United States
Net periodic benefit cost (income)
Service cost	$ 13,471	$ 15,391	$ 13,679
Interest cost	14,509	13,256	13,289
Expected return on plan assets	(34,632)	(29,883)	(26,146)
Amortization of prior service cost (credit)	178	25	26
Amortization of actuarial net (gain) loss	2,951	5,139	4,725
Net periodic benefit cost (income)	(3,523)	3,928	5,573
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Actuarial net (gain) loss	(36,814)	29,215	(13,386)
Prior service cost (credit)	1,013	0	0
Amortization of actuarial net gain (loss)	(2,951)	(5,139)	(4,725)
Amortization of prior service (cost) credit	(178)	(25)	(26)
Total recognized in other comprehensive income (loss)	(38,930)	24,051	(18,137)
Total recognized in net periodic benefit cost (income) and other comprehensive income (loss)	(42,453)	27,979	(12,564)
Pension Benefits | Foreign Retirement Plans
Net periodic benefit cost (income)
Service cost	6,430	7,271	7,437
Interest cost	4,768	4,514	4,314
Expected return on plan assets	(9,084)	(9,918)	(8,479)
Amortization of prior service cost (credit)	(42)	(81)	(79)
Amortization of actuarial net (gain) loss	938	597	959
Net periodic benefit cost (income)	3,010	2,383	4,152
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Actuarial net (gain) loss	11,074	4,532	(3,029)
Prior service cost (credit)	0	537	0
Amortization of actuarial net gain (loss)	(938)	(597)	(959)
Amortization of prior service (cost) credit	42	81	79
Total recognized in other comprehensive income (loss)	10,178	4,553	(3,909)
Total recognized in net periodic benefit cost (income) and other comprehensive income (loss)	13,188	6,936	243
Postretirement Benefits | United States
Net periodic benefit cost (income)
Service cost	718	896	774
Interest cost	1,514	1,458	1,582
Expected return on plan assets	(947)	(969)	(1,197)
Amortization of prior service cost (credit)	(3,028)	(3,028)	(3,029)
Amortization of actuarial net (gain) loss	0	0	0
Net periodic benefit cost (income)	(1,743)	(1,643)	(1,870)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Actuarial net (gain) loss	3,049	(2,190)	2,635
Prior service cost (credit)	0	0	0
Amortization of actuarial net gain (loss)	0	0	0
Amortization of prior service (cost) credit	3,028	3,028	3,029
Total recognized in other comprehensive income (loss)	6,077	838	5,664
Total recognized in net periodic benefit cost (income) and other comprehensive income (loss)	$ 4,334	$ (805)	$ 3,794

Pension Plans and Other Postr_5

Pension Plans and Other Postretirement Benefits (Changes In The Plans' Benefit Obligations And Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	$ 133,848	$ 88,705
Pension Benefits | United States
Change in benefit obligation
Benefit obligation at beginning of year	349,212	358,812
Service cost	13,471	15,391	$ 13,679
Interest cost	14,509	13,256	13,289
Actuarial net (gain) loss	38,045	(26,957)
Plan amendment	1,014	0
Benefits paid	(13,195)	(11,290)
Benefit obligation at end of year	403,056	349,212	358,812
Change in plan assets
Fair value of plan assets at beginning of year	384,552	365,421
Actual return on plan assets	109,493	(26,289)
Employer contributions	2,973	56,710
Benefits paid	(13,195)	(11,290)
Fair value of plan assets at end of year	483,823	384,552	365,421
Funded status	80,767	35,340
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	121,968	75,206
Current liabilities	(2,920)	(2,788)
Noncurrent liabilities	(38,281)	(37,078)
Amounts recognized in the Consolidated Balance Sheets	80,767	35,340
Amounts recognized in accumulated other comprehensive loss
Actuarial net (gain) loss	73,261	113,026
Prior service cost (credit)	842	7
Amounts recognized in accumulated other comprehensive loss	74,103	113,033
Pension Benefits | Foreign Retirement Plans
Change in benefit obligation
Benefit obligation at beginning of year	173,620	185,815
Service cost	6,430	7,271	7,437
Interest cost	4,768	4,514	4,314
Employee contributions	680	737
Actuarial net (gain) loss	21,558	(10,976)
Benefits paid	(5,977)	(4,144)
Foreign currency translation	4,979	(9,597)
Benefit obligation at end of year	206,058	173,620	185,815
Change in plan assets
Fair value of plan assets at beginning of year	163,746	176,968
Actual return on plan assets	19,591	(6,357)
Employer contributions	5,586	5,968
Employee contributions	680	737
Benefits paid	(5,977)	(4,144)
Foreign currency translation	5,829	(9,426)
Fair value of plan assets at end of year	189,455	163,746	176,968
Funded status	(16,603)	(9,874)
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	11,880	13,499
Current liabilities	(297)	(301)
Noncurrent liabilities	(28,186)	(23,072)
Amounts recognized in the Consolidated Balance Sheets	(16,603)	(9,874)
Amounts recognized in accumulated other comprehensive loss
Actuarial net (gain) loss	52,902	42,766
Prior service cost (credit)	778	736
Amounts recognized in accumulated other comprehensive loss	53,680	43,502
Postretirement Benefits | United States
Change in benefit obligation
Benefit obligation at beginning of year	37,512	40,438
Service cost	718	896	774
Interest cost	1,514	1,458	1,582
Actuarial net (gain) loss	3,165	(2,355)
Plan amendment	0	0
Benefits paid	(2,589)	(2,925)
Benefit obligation at end of year	40,320	37,512	40,438
Change in plan assets
Fair value of plan assets at beginning of year	22,378	22,904
Actual return on plan assets	1,063	803
Employer contributions	1,240	1,596
Benefits paid	(2,589)	(2,925)
Fair value of plan assets at end of year	22,092	22,378	$ 22,904
Funded status	(18,228)	(15,134)
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	0	0
Current liabilities	(1,164)	(1,215)
Noncurrent liabilities	(17,064)	(13,919)
Amounts recognized in the Consolidated Balance Sheets	(18,228)	(15,134)
Amounts recognized in accumulated other comprehensive loss
Actuarial net (gain) loss	2,569	(480)
Prior service cost (credit)	(22,647)	(25,675)
Amounts recognized in accumulated other comprehensive loss	$ (20,078)	$ (26,155)

Pension Plans and Other Postr_6

Pension Plans and Other Postretirement Benefits (Pension Plans With The Benefit Obligation In Excess Of Plan Assets) (Details) - Pension Benefits - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
United States
Plans with the accumulated benefit obligation in excess of the fair market value of plan assets
Projected benefit obligation	$ 41,201	$ 39,866
Accumulated benefit obligation	38,167	36,586
Fair market value of plan assets	0	0
Plans with the projected benefit obligation in excess of the fair market value of plan assets
Projected benefit obligation	41,201	39,866
Fair market value of plan assets	0	0
Foreign Retirement Plans
Plans with the accumulated benefit obligation in excess of the fair market value of plan assets
Projected benefit obligation	41,126	33,730
Accumulated benefit obligation	27,879	22,803
Fair market value of plan assets	12,642	10,618
Plans with the projected benefit obligation in excess of the fair market value of plan assets
Projected benefit obligation	41,126	35,970
Fair market value of plan assets	$ 12,642	$ 12,597

Pension Plans and Other Postr_7

Pension Plans and Other Postretirement Benefits (Assumptions To Calculate The Results Of Our Retirement Plans) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Benefits | United States
Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31,
Discount rate	4.25%	3.75%	4.25%
Expected long-term rate of return on plan assets	8.50%	8.50%	8.50%
Rate of projected compensation increase	3.50%	3.50%	3.50%
Weighted-average assumptions used to determine benefit obligations at December 31,
Discount rate	3.50%	4.25%	3.75%
Rate of projected compensation increase	3.50%	3.50%	3.50%
Pension Benefits | Foreign Retirement Plans
Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31,
Discount rate	2.67%	2.36%	2.53%
Expected long-term rate of return on plan assets	5.58%	5.50%	5.50%
Rate of projected compensation increase	4.10%	4.14%	4.20%
Weighted-average assumptions used to determine benefit obligations at December 31,
Discount rate	1.81%	2.67%	2.36%
Rate of projected compensation increase	3.96%	4.10%	4.14%
Postretirement Benefits | United States
Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31,
Discount rate	4.25%	3.75%	4.25%
Expected long-term rate of return on plan assets	4.50%	4.50%	5.50%
Weighted-average assumptions used to determine benefit obligations at December 31,
Discount rate	3.50%	4.25%	3.75%

Pension Plans and Other Postr_8

Pension Plans and Other Postretirement Benefits (Fair Value Of The Pension And Postretirement Benefit Plans Assets By Asset Category) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 483,823	$ 384,552	$ 365,421
Pension Benefits | United States | Fair Value | Equity securities U.S. Companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	338,564	280,717
Pension Benefits | United States | Fair Value | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,751	4,223
Pension Benefits | United States | Fair Value | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,680	1,918
Pension Benefits | United States | Fair Value | Money market instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17,618	13,099
Pension Benefits | United States | Fair Value | Pooled investment funds Fixed Income Securities - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9,576	9,039
Pension Benefits | United States | Fair Value | Pooled investment funds International Equities Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17,378	14,302
Pension Benefits | United States | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	403,887	321,380
Pension Benefits | United States | Level 1 | Equity securities U.S. Companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	338,564	280,717
Pension Benefits | United States | Level 1 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,751	4,223
Pension Benefits | United States | Level 1 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 1 | Money market instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17,618	13,099
Pension Benefits | United States | Level 1 | Pooled investment funds Fixed Income Securities - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9,576	9,039
Pension Benefits | United States | Level 1 | Pooled investment funds International Equities Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17,378	14,302
Pension Benefits | United States | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,680	1,918
Pension Benefits | United States | Level 2 | Equity securities U.S. Companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,680	1,918
Pension Benefits | United States | Level 2 | Money market instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Pooled investment funds Fixed Income Securities - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Pooled investment funds International Equities Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Equity securities U.S. Companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Money market instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Pooled investment funds Fixed Income Securities - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Pooled investment funds International Equities Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Common collective trusts measured at net asset value | Pooled Investment Funds Common Collective Trusts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	78,256	61,254
Pension Benefits | Foreign Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	189,455	163,746	176,968
Pension Benefits | Foreign Retirement Plans | Fair Value | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	691	684
Pension Benefits | Foreign Retirement Plans | Fair Value | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	131	66
Pension Benefits | Foreign Retirement Plans | Fair Value | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,706	10,618
Pension Benefits | Foreign Retirement Plans | Fair Value | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	663	756
Pension Benefits | Foreign Retirement Plans | Fair Value | Pooled investment funds—mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	582	538
Pension Benefits | Foreign Retirement Plans | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,050	1,986
Pension Benefits | Foreign Retirement Plans | Level 1 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	691	684
Pension Benefits | Foreign Retirement Plans | Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	131	66
Pension Benefits | Foreign Retirement Plans | Level 1 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 1 | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	646	698
Pension Benefits | Foreign Retirement Plans | Level 1 | Pooled investment funds—mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	582	538
Pension Benefits | Foreign Retirement Plans | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,723	10,676
Pension Benefits | Foreign Retirement Plans | Level 2 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 2 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,706	10,618
Pension Benefits | Foreign Retirement Plans | Level 2 | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17	58
Pension Benefits | Foreign Retirement Plans | Level 2 | Pooled investment funds—mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Pooled investment funds—mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Common collective trusts measured at net asset value | Pooled investment funds Equity Securities U.S. companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	13,074	10,294
Pension Benefits | Foreign Retirement Plans | Common collective trusts measured at net asset value | Pooled investment funds Equity Securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	60,945	49,610
Pension Benefits | Foreign Retirement Plans | Common collective trusts measured at net asset value | Pooled investment funds Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	67,094	60,480
Pension Benefits | Foreign Retirement Plans | Common collective trusts measured at net asset value | Pooled investment funds Diversified growth funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	35,569	30,700
Postretirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	22,092	22,378	$ 22,904
Postretirement Benefits | United States | Fair Value | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	22,092	22,378
Postretirement Benefits | United States | Level 1 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Postretirement Benefits | United States | Level 2 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	22,092	22,378
Postretirement Benefits | United States | Level 3 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

Pension Plans and Other Postr_9

Pension Plans and Other Postretirement Benefits (Expected Benefit Payments) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
2020	$ 13,011
2021	13,809
2022	14,687
2023	15,659
2024	16,689
2025 through 2029	98,827
Pension Benefits | Foreign Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
2020	5,662
2021	5,830
2022	4,390
2023	6,187
2024	8,186
2025 through 2029	33,050
Postretirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
2020	2,553
2021	2,420
2022	2,296
2023	2,194
2024	2,094
2025 through 2029	$ 9,906

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
U.S. Corporate Tax Rate			21.00%	21.00%	35.00%
Deemed Repatriation of Undistributed Foreign Earnings due to The Tax Reform Act	$ 1,000	$ 32,000
Tax Reform Act expense		31,000	$ 0	$ 0	$ 31,375
Reduction to Deferred Tax Liabilities Related to Tax Reform Act	8,000	$ 1,000		8,000	$ 1,000
Deemed repatriation of earnings, remaining liability	2,956		2,956	2,956
Deferred Tax Assets, Foreign Operating And Foreign Capital Loss Carryforwards, Foreign And State Credits	16,578		13,375	16,578
Deferred Tax Assets, Valuation Allowance	$ 13,059		13,152	$ 13,059
Unrecognized tax benefits that would impact effective tax rate if recognized			12,000
Temporary Differences Related To Investments in Foreign Subsidiaries Considered Permanent			$ 123,000
Minimum [Member]
Income Tax Contingency [Line Items]
Foreign and United States jurisdictions, period of statutes of limitations, years			3 years
Maximum [Member]
Income Tax Contingency [Line Items]
Foreign and United States jurisdictions, period of statutes of limitations, years			5 years

Income Taxes (Schedule Of Incom

Income Taxes (Schedule Of Income Before Income Tax Expense and Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income before income tax expense
Domestic	$ 183,907	$ 157,459	$ 140,779
Foreign	147,683	132,826	174,663
Income before income tax expense	331,590	290,285	315,442
Current income taxes
Federal	29,955	9,153	61,188
State	9,551	4,679	3,942
Foreign	30,414	27,192	32,428
Current income taxes	69,920	41,024	97,558
Deferred income taxes
Federal	1,671	16,545	15,901
State	630	2,888	3,633
Foreign	5,083	(4,906)	7,841
Deferred income taxes	7,384	14,527	27,375
Total income tax expense	$ 77,304	$ 55,551	$ 124,933

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of U.S. Federal Statutory Rate To Effective Income Tax Rate) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	35.00%
State taxes, net of federal tax	2.40%	2.10%	1.60%
Foreign operations	1.70%	(0.90%)	(4.40%)
Domestic research tax credit	(1.70%)	(1.50%)	(1.10%)
EffectiveTaxRateReconciliationChangeForFDIIProvision	(2.10%)	(2.40%)	(0.00%)
Foreign-derived intangible tax benefit	1.00%	1.50%	0.00%
Domestic manufacturing tax benefit	(0.00%)	(0.00%)	(0.80%)
Deemed repatriation of foreign earnings	0.00%	0.50%	10.10%
Change in U.S tax rate	0.00%	(2.00%)	0.20%
Other items and adjustments	1.00%	0.80%	(1.00%)
Effective income tax rate	23.30%	19.10%	39.60%

Income Taxes (Deferred Income T

Income Taxes (Deferred Income Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets
Future employee benefits	$ 0	$ 4,550
Operating Loss and Credit Carryforwards	13,375	16,578
Trademark expenses	3,892	3,833
Foreign currency translation adjustments	4,772	4,708
Other	7,015	5,925
Gross Deferred Income Tax Assets	29,054	35,594
Valuation allowance	(13,152)	(13,059)
Total deferred income tax assets	15,902	22,535
Deferred income tax liabilities
Depreciation and amortization	56,618	51,601
DeferredTaxLiabilityTaxDeferredExpenseCompensationAndBenefits	4,064	0
Inventory	266	3,973
Other	5,823	4,938
Total Deferred income tax liabilities	66,771	60,512
Deferred Tax Liabilities, Net	50,869	37,977
Deferred Income Tax Assets, Net	6,327	5,094
Deferred Income Tax Liabilities, Net	57,196	43,071
Deferred Income Tax Liability Position	$ (50,869)	$ (37,977)

Income Taxes (Schedule of Recon

Income Taxes (Schedule of Reconciliation Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 12,000
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	10,660	$ 9,102	$ 8,810
Increases for tax positions of prior years	3,176	2,123	865
Increases for tax positions of the current year	703	614	453
Settlements	(440)	(252)	(260)
Lapses of statutes	(556)	(927)	(766)
Balance at end of year	$ 13,543	$ 10,660	$ 9,102

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Measurements [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 144,397	$ 73,040
Reported Value Measurement [Member]
Fair Value Measurements [Line Items]
Cash and Cash Equivalents, at Carrying Value	144,000	73,000
Level 1 | Estimate of Fair Value Measurement [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	$ 144,000	$ 73,000
4.10% Senior Notes [Member]
Fair Value Measurements [Line Items]
Senior notes, interest rate	4.10%	4.10%

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, Carrying Amount	$ 642,941	$ 765,806
Level 2
Debt Instrument [Line Items]
Long-term debt, Fair Value	$ 677,253	$ 757,414

Commitments and Contingencies_2

Commitments and Contingencies (Contractual Commitments and Purchase Obligations) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Construction of Assets and Purchases of Property and Equipment [Member]
Contractual Commitments And Contingencies [Line Items]
Contractual purchase obligations	$ 32,000
Period of obligations for construction of assets and purchases of property and equipment	5 years
Inventories [Member]
Purchase Obligations [Abstract]
2020	$ 171,444
2021	148,173
2022	135,415
2023	78,232
2024	2,485
After 2024	$ 14,270

Commitments and Contingencies_3

Commitments and Contingencies (Litigation) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Asbestos Litigation Reserve	$ 12	$ 10
Insurance Settlements Receivable	$ 6	$ 5

Commitments and Contingencies_4

Commitments and Contingencies (Environmental) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination	$ 11	$ 12
Former TEL Plant Site Louisiana and Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination	8	8
Accrual for environmental remediation, dismantling, and decontamination, undiscounted	10	11
Former TEL Plant Site Louisiana [Member]
Site Contingency [Line Items]
Accrual for remediation of groundwater and soil	4	4
Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Accrual for remediation of groundwater and soil	$ 3	$ 4
Minimum [Member] | Former TEL Plant Site Louisiana and Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Discount rate	3.00%	3.00%
Maximum [Member] | Former TEL Plant Site Louisiana and Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Discount rate	9.00%	9.00%

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Pension Plans and Other Postretirement Benefits, Beginning Balance	$ (86,555)	$ (63,520)	$ (76,187)
Foreign Currency Translation Adjustments, Beginning Balance	(94,761)	(82,474)	(106,323)
Accumulated Other Comprehensive (Loss) Income, Beginning Balance	(181,316)	(145,994)	(182,510)
Other comprehensive income (loss) before reclassifications, Pension Plans and Other Postretirement Benefits	15,983	(25,027)	10,966
Other comprehensive income (loss) before reclassifications, Foreign Currency Translation Adjustments	1,808	(12,287)	23,849
Other comprehensive income (loss) before reclassifications, Accumulated Other Comprehensive (Loss) Income	17,791	(37,314)	34,815
Amounts reclassified from accumulated other comprehensive loss, Pension Plans and Other Postretirement Benefits	777	1,992	1,701
Amounts reclassified from accumulated other comprehensive loss, Foreign Currency Translation Adjustments	0	0	0
Amounts reclassified from accumulated other comprehensive loss, Accumulated Other Comprehensive (Loss) Income	777	1,992	1,701
Total pension plans and other postretirement benefits	16,760	(23,035)	12,667
Foreign Currency Translation Adjustments, Other comprehensive income (loss)	1,808	(12,287)	23,849
Other comprehensive income (loss)	18,568	(35,322)	36,516
Pension Plans and Other Postretirement Benefits, Ending Balance	(69,795)	(86,555)	(63,520)
Foreign Currency Translation Adjustments, Ending Balance	(92,953)	(94,761)	(82,474)
Accumulated Other Comprehensive (Loss) Income, Ending Balance	$ (162,748)	$ (181,316)	$ (145,994)

Selected Quarterly Consolidat_3

Selected Quarterly Consolidated Financial Data (unaudited) (Schedule Of Selected Quarterly Consolidated Financial Data) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selected Quarterly Financial Information [Abstract]
Net sales	$ 534,445	$ 555,817	$ 563,417	$ 536,616	$ 538,312	$ 563,166	$ 598,952	$ 589,245	$ 2,190,295	$ 2,289,675	$ 2,198,404
Gross profit	143,440	162,727	170,833	152,869	141,838	140,883	145,859	156,783	629,869	585,363	636,387
Net income	$ 50,102	$ 67,805	$ 74,174	$ 62,205	$ 62,803	$ 58,481	$ 52,885	$ 60,565	$ 254,286	$ 234,734	$ 190,509
Earnings per share - basic and diluted	$ 4.48	$ 6.06	$ 6.63	$ 5.57	$ 5.58	$ 5.12	$ 4.53	$ 5.14	$ 22.73	$ 20.34	$ 16.08

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Use of Hindsight [true false]	true
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease right-of-use assets		$ 70
Estimated amount of lease liabilities to be recognized		$ 70