Pension And Other Postretirement Benefits Disclosure [Text Block] | Note 17 – Pension and Other Postretirement Benefits The following table shows the Company’s plans’ funded status reconcile d with amounts reported in the Consolidated Balance S heet s as of December 31, 2016 and 2015 : Other Post- Pension Benefits Retirement Benefits 2016 2015 2016 2015 Change in benefit obligation Foreign Domestic Total Foreign Domestic Total Domestic Domestic Gross benefit obligation at beginning of year $ 92,406 $ 66,862 $ 159,268 $ 106,827 $ 70,667 $ 177,494 $ 5,422 $ 6,045 Service cost 2,378 298 2,676 2,799 250 3,049 10 17 Interest cost 2,314 2,114 4,428 2,476 2,541 5,017 142 195 Employee contributions 71 — 71 80 — 80 — — Plan settlements — — — (328) — (328) — — Benefits paid (1,583) (4,522) (6,105) (1,604) (4,249) (5,853) (443) (533) Plan expenses and premiums paid (155) (275) (430) (57) (250) (307) — — Actuarial loss (gain) 14,848 2,777 17,625 (7,799) (2,097) (9,896) (401) (302) Translation differences and other (6,788) — (6,788) (9,988) — (9,988) — — Gross benefit obligation at end of year $ 103,491 $ 67,254 $ 170,745 $ 92,406 $ 66,862 $ 159,268 $ 4,730 $ 5,422 Change in plan assets Fair value of plan assets at year beginning of year $ 76,156 $ 46,701 $ 122,857 $ 86,523 $ 49,689 $ 136,212 $ — $ — Actual return (loss) on plan assets 14,472 2,516 16,988 (2,170) 223 (1,947) — — Employer contributions 3,103 4,777 7,880 1,804 1,288 3,092 443 533 Employee contributions 71 — 71 80 — 80 — — Plan settlements — — — (328) — (328) — — Benefits paid (1,583) (4,522) (6,105) (1,604) (4,249) (5,853) (443) (533) Plan expenses and premiums paid (155) (275) (430) (57) (250) (307) — — Translation differences (5,220) — (5,220) (8,092) — (8,092) — — Fair value of plan assets at end of year $ 86,844 $ 49,197 $ 136,041 $ 76,156 $ 46,701 $ 122,857 $ — $ — Net benefit obligation recognized $ (16,647) $ (18,057) $ (34,704) $ (16,250) $ (20,161) $ (36,411) $ (4,730) $ (5,422) Amounts recognized in the balance sheet consist of: Current liabilities $ (61) $ (574) $ (635) $ (52) $ (575) $ (627) $ (451) $ (517) Non-current liabilities (16,586) (17,483) (34,069) (16,198) (19,586) (35,784) (4,279) (4,905) Net benefit obligation recognized $ (16,647) $ (18,057) $ (34,704) $ (16,250) $ (20,161) $ (36,411) $ (4,730) $ (5,422) Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss: Prior service credit (cost) $ 1,687 $ (122) $ 1,565 $ 1,910 $ (185) $ 1,725 $ — $ — Accumulated loss (20,214) (33,147) (53,361) (20,058) (31,906) (51,964) (581) (983) Accumulated other comprehensive loss ("AOCI") (18,527) (33,269) (51,796) (18,148) (32,091) (50,239) (581) (983) Cumulative employer contributions in excess of or (below) net periodic benefit cost 1,880 15,212 17,092 1,898 11,930 13,828 (4,149) (4,439) Net benefit obligation recognized $ (16,647) $ (18,057) $ (34,704) $ (16,250) $ (20,161) $ (36,411) $ (4,730) $ (5,422) The accumulated benefit obligation for all defined benefit pension plans was $167.1 million ( $66.7 million Domestic and approximately $100.4 million Foreign) and $157.5 million ( $66.9 million Domestic and $90.6 million Foreign ) at December 31, 2016 and 2015 , respectively. Information for pension plans with an accumulated benefit obligation in excess of plan assets: 2016 2015 Foreign Domestic Total Foreign Domestic Total Projected benefit obligation $ 103,491 $ 67,254 $ 170,745 $ 92,406 $ 66,862 $ 159,268 Accumulated benefit obligation 100,463 66,676 167,139 90,624 66,862 157,486 Fair value of plan assets 86,844 49,197 136,041 76,156 46,701 122,857 Information for pension plans with a projected benefit obligation in excess of plan assets: 2016 2015 Foreign Domestic Total Foreign Domestic Total Projected benefit obligation $ 103,491 $ 67,254 $ 170,745 $ 92,406 $ 66,862 $ 159,268 Fair value of plan assets 86,844 49,197 136,041 76,156 46,701 122,857 Components of net periodic benefit costs – pension plans: 2016 2015 Foreign Domestic Total Foreign Domestic Total Service cost $ 2,378 $ 298 $ 2,676 $ 2,799 $ 250 $ 3,049 Interest cost 2,314 2,114 4,428 2,476 2,541 5,017 Expected return on plan assets (2,026) (3,316) (5,342) (2,092) (3,453) (5,545) Settlement loss — — — 170 — 170 Actuarial loss amortization 839 2,336 3,175 1,136 2,353 3,489 Prior service (credit) cost amortization (164) 63 (101) (164) 63 (101) Net periodic benefit cost $ 3,341 $ 1,495 $ 4,836 $ 4,325 $ 1,754 $ 6,079 2014 Foreign Domestic Total Service cost $ 2,626 $ 250 $ 2,876 Interest cost 3,210 2,823 6,033 Expected return on plan assets (2,543) (3,817) (6,360) Actuarial loss amortization 1,307 1,757 3,064 Prior service cost amortization 736 63 799 Net periodic benefit cost $ 5,336 $ 1,076 $ 6,412 Other changes recognized in other comprehensive income: 2016 2015 Foreign Domestic Total Foreign Domestic Total Net loss (gain) arising during the period $ 2,401 $ 3,576 $ 5,977 $ (3,537) $ 1,134 $ (2,403) Recognition of amortization in net periodic benefit cost Prior service credit (cost) 164 (63) 101 164 (63) 101 Actuarial loss (839) (2,336) (3,175) (1,306) (2,353) (3,659) Effect of exchange rates on amounts included in AOCI (1,347) — (1,347) (2,353) — (2,353) Total recognized in other comprehensive loss (income) 379 1,177 1,556 (7,032) (1,282) (8,314) Total recognized in net periodic benefit cost and other comprehensive loss (income) $ 3,720 $ 2,672 $ 6,392 $ (2,707) $ 472 $ (2,235) 2014 Foreign Domestic Total Net loss arising during period $ 4,973 $ 7,290 $ 12,263 Effect of plan amendment 242 — 242 Recognition of amortization in net periodic benefit cost Prior service cost (736) (63) (799) Actuarial loss (1,307) (1,757) (3,064) Effect of exchange rates on amounts included in AOCI (3,076) — (3,076) Total recognized in other comprehensive loss 96 5,470 5,566 Total recognized in net periodic benefit cost and other comprehensive loss $ 5,432 $ 6,546 $ 11,978 Components of net periodic benefit costs – other postretirement plan : 2016 2015 2014 Service cost $ 10 $ 17 $ 19 Interest cost 142 195 232 Actuarial loss amortization — 83 65 Net periodic benefit costs $ 152 $ 295 $ 316 Other changes recognized in other comprehensive income – other postretirement benefit plans: 2016 2015 2014 Net (gain) loss arising during period $ (401) $ (302) $ 688 Amortization of actuarial loss in net periodic benefit costs — (83) (65) Total recognized in other comprehensive (income) loss (401) (385) 623 Total recognized in net periodic benefit cost and other comprehensive (income) loss $ (249) $ (90) $ 939 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next fiscal year : Other Post- Pension Plans Retirement Foreign Domestic Total Benefits Actuarial loss $ 808 $ 2,658 $ 3,466 $ 22 Prior service (credit) cost (155) 63 (92) — $ 653 $ 2,721 $ 3,374 $ 22 Weighted-average assumptions used to determine benefit obligations at December 31, 2016 and 2015 : Other Postretirement Pension Benefits Benefits 2016 2015 2016 2015 U.S. Plans: Discount rate 3.88 % 4.07 % 3.73 % 3.88 % Rate of compensation increase 3.63 % 3.63 % N/A N/A Foreign Plans: Discount rate 2.17 % 2.95 % N/A N/A Rate of compensation increase 2.48 % 2.41 % N/A N/A Weighted-average assumptions used to determine net periodic benefit costs for the years ended December 31, 2016 and 2015 : Other Postretirement Pension Benefits Benefits 2016 2015 2016 2015 U.S. Plans: Discount rate 4.07 % 3.72 % 3.88 % 3.45 % Expected long-term return on plan assets 7.20 % 7.30 % N/A N/A Rate of compensation increase 3.63 % 3.63 % N/A N/A Foreign Plans: Discount rate 2.95 % 2.51 % N/A N/A Expected long-term return on plan assets 2.65 % 2.55 % N/A N/A Rate of compensation increase 2.41 % 3.05 % N/A N/A As of December 31, 2015, the Company elected to use a split discount rate (spot-rate approach) for the U.S. plans and certain foreign plans, which includes the method used to estimate the service and interest components of net periodic benefit cost for pension and other postretirement benefits beginning in the first quarter of 2016. This change resulted in a decrease in the service and interest components for pension cost in the year ended December 31, 2016 compared to the year ended December 31, 2015. Historically, the Company estimated service and interest cost components utilizing a single weighted-average discount rate derived from a specific yield curve used to measure the benefit obligation at the beginning of the period. Under the spot-rate appr oach, service and interest cost components have been estimated based on the application of the spot rates on a given yield curve at each future year to each plan's projected cash flows to measure the benefit obligation at the beginning of the period. The Company made this change to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows and the corresponding spot yield curve rates. This change has been accounted for as a change in accounting estimate and, accordingly, accounted for prospectively during 2016 . The long-term rates of return on assets were selected from within the reasonable range of rates determined by (a) historical real returns for the asset classes covered by the investment pol icy and (b) projections of inflation over the long-term period during which benefits are payable to plan participants. See Note 1 of Notes to Consolidated Financial Statements for further information. Assumed health care cost trend rates at December 31, 2016 and 2015 : 2016 2015 Health care cost trend rate for next year 6.70 % 6.70 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.50 % 4.50 % Year that the rate reaches the ultimate trend rate 2037 2037 Assumed health care cost trend rates could have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects: 1% Point 1% Point Increase Decrease Effect on total service and interest cost $ 12 $ (10) Effect on postretirement benefit obligations 352 (308) Plan Assets and Fair Value The Company’s pension plan target asset allocation and the weighted-average asset allocations at December 31, 2016 and 2015 by asset category were as follows: Asset Category Target 2016 2015 U.S. Plans Equity securities 61 % 60 % 65 % Debt securities 32 % 39 % 34 % Other 7 % 1 % 1 % Total 100 % 100 % 100 % Foreign Plans Equity securities and other 25 % 24 % 26 % Debt securities 75 % 76 % 74 % Total 100 % 100 % 100 % As of December 31, 2016 and 2015 , “Other” consisted principally of cash and cash equivalents (approximately 1% to 2% of plan assets in each respective period). The following is a description of the valuation methodologies used for the investments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy , where applicable : Cash and Cash Equivalents Cash and cash equivalents consist of cash and money market funds and are classifie d as Level 1 investments. Common Stock Common stock is valued based on quoted market prices on an exchange in an active market and is classified as Level 1 investments. Commingled Funds Investments in the U.S. pension plan and foreign pension plan commingl ed funds represent pooled institutional investments, including primarily collective investment trusts. The se commingled funds are not available o n an exchange or in an active market and these investments are valued using their NAV, which is generally base d on the underlying asset values of the pooled investments held in the trusts. In accordance with the accounting standard update adopted by the Company during 2016, these assets are no longer included in the fair value hierarchy. As of December 31, 2016 , the U.S. pension plan commingled funds include d approximately 61 percent of investments in equity securities and 39 percent of investments in fixed income securities. As of December 31, 2016, foreign pension plan commingled funds include d approximately 30 percent of investments in diversified equity securities, 60 percent of investments in fixed income securities , and 10 percent of other non-related investments , primarily real estate. Pooled Separate Accounts Investments in the U.S. pension plan pooled separate accounts consist of insurance annuity contracts and are valued based on the reported unit value at year end. Units of the pooled separate account are not traded on an exchange or in an active market and these investments are valued using t heir NAV. In accordance with the accounting standard update adopted by the Company during 2016, these assets are no longer included in the fair value hierarchy. Registered Investment Companies Investments in shares of registered investment companies in the U.S. pension plan as of December 31, 2015 which represent the net asset values of shares held by the Plan and were valued based on quoted market prices on an exchange in an active market and classified as Level 1 investments. Fixed Income Corporate Sec urities Investments in corporate fixed income securities in the U.S. pension plan as of December 31, 2015 were valued using third party pricing services which were based on a combination of quoted market prices on an exchange in an active market as well as proprietary pricing models and inputs using observable market data and were classified as Level 2 investments. Fixed Income U.S. and Foreign Government Securitie s Investments in U.S. and foreign government fixed income securities in the U.S. pension plan as of December 31, 2015 were valued using third party pricing services which are based on a combination of quoted market prices on an exchange in an active market as well as proprietary pricing models and inputs using observable market data and were classified as Level 2 investments. Insurance Contract Investments in the foreign pension plan insurance contract are valued at the highest value available for the Com pany at year end, either the reported cash surrender value of the contract or the vested benefit obligation. Both the cash surrender value and the vested benefit obligation are determined based on unobservable inputs, which are contractually or actuariall y determined, regarding returns, fees, the present value of the future cash flows of the contract and benefit obligations. The contract is classified as a Level 3 investment. Diversified Equity Securities - Registered Investment Companies Investments in t he foreign pension plan diversified equity securities of registered investment companies are based upon the quoted redemption value of shares in the fund owned by the plan at year end. The shares of the fund are not available o n an exchange or in an activ e market; however, the fair value is determined based on the underlying inve stments in the fund as traded on an exchange in an active market and are classified as Level 2 investments. Fixed Income – Foreign Registered Investment Companies Investments in th e foreign pension plan fixed income securities of foreign registered investment companies are based upon the quoted redemption value of shares in the fund owned by the plan at year end. The shares of the fund are not available o n an exchange or in an acti ve market; however, the fair value is determined based on the underlying investments in the fund as traded on an exchange in an active market and are classified as Level 2 investments. Real Estate The foreign pension plan’s investment in real estate consists of an investment in a property fund. The fund’s underlying investments consist of real property, which are valued using unobservable inputs. The property fund is classified as a Level 3 investment As of December 31, 2016 and 2015 , the U.S. and foreign plans’ investments measured at fair value on a recurring basis were as follows: Fair Value Measurements at December 31, 2016 Total Using Fair Value Hierarchy U.S. Pension Assets Fair Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 302 $ 302 $ — $ — Small capitalization common stock 1,279 1,279 — — Subtotal U.S. pension plan assets in fair value hierarchy $ 1,581 $ 1,581 $ — $ — Commingled funds measured at NAV 46,185 Pooled separate accounts measured at NAV 1,431 Total U.S. pension plan assets $ 49,197 Foreign Pension Assets Cash and cash equivalents $ 130 $ 130 $ — $ — Insurance contract 72,778 — — 72,778 Diversified equity securities - registered investment companies 7,308 — 7,308 — Fixed income - foreign registered investment companies 2,753 — 2,753 — Real estate - registered investment companies 2,041 — — 2,041 Sub-total of foreign pension assets in fair value hierarchy $ 85,010 $ 130 $ 10,061 $ 74,819 Commingled funds measured at NAV 1,834 Total foreign pension assets $ 86,844 Total pension assets in fair value hierarchy $ 86,591 $ 1,711 $ 10,061 $ 74,819 Total pension assets measured at NAV 49,450 Total pension assets $ 136,041 Fair Value Measurements at December 31, 2015 Total Using Fair Value Hierarchy U.S. Pension Assets Fair Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 753 $ 753 $ — $ — Large capitalization common stock 13,346 13,346 — — Large capitalization registered investment companies 6,363 6,363 — — Small capitalization common stock 773 773 — — Small capitalization registered investment companies 2,333 2,333 — — International developed and emerging markets registered investment companies 5,166 5,166 — — International developed and emerging markets common stock 2,519 2,519 — — Fixed income corporate securities 9,601 — 9,601 — Fixed income registered investment companies 4,147 4,147 — — Fixed income U.S. and foreign government securities 308 — 308 — Subtotal U.S. pension plan assets in fair value hierarchy $ 45,309 $ 35,400 $ 9,909 $ — Pooled separate accounts measured at NAV 1,392 Total U.S. pension plan assets $ 46,701 Foreign Pension Assets Cash and cash equivalents $ 7 $ 7 $ — $ — Insurance contract 62,409 — — 62,409 Diversified equity securities - registered investment companies 7,180 — 7,180 — Fixed income - foreign registered investment companies 2,290 — 2,290 — Real estate - registered investment companies 2,388 — — 2,388 Subtotal foreign pension assets in fair value hierarchy $ 74,274 $ 7 $ 9,470 $ 64,797 Commingled funds measured at NAV 1,882 Total foreign pension plan assets $ 76,156 Total pension assets in fair value hierarchy $ 119,583 $ 35,407 $ 19,379 $ 64,797 Total pension assets measured at NAV 3,274 Total pension assets $ 122,857 Certain investments that are measured at fair value using the NAV per share (or its equivalent) have not bee n classified in the fair value hierarchy . During 2016, the Company adopted the guidance in the accounting standard update issued in May, 2015 which removed the requirement to categorize within the fair value hierarchy all such investments . Adoption of this guidance was done on a retrospective basis, which required reclassifications to the fair value tables for the year ended December 31, 2015. The fair value amounts presented for these investments in the preceding tables are intended to permit reconciliation of the fair value hierarchies to t he line items presented in the statements of net assets available for benefits. Changes in the fair value of the foreign plans’ Level 3 investments during the years ended December 31, 2016 and 2015 were as follows: Insurance Real Estate Contract Fund Total Balance at December 31, 2014 $ 72,417 $ 478 $ 72,895 Purchases 953 1,937 2,890 Settlements (1,239) — (1,239) Unrealized (losses) gains (2,402) 60 (2,342) Currency translation adjustment (7,320) (87) (7,407) Balance at December 31, 2015 62,409 2,388 64,797 Purchases 2,584 — 2,584 Settlements (1,350) — (1,350) Unrealized gains 12,005 56 12,061 Currency translation adjustment (2,870) (403) (3,273) Balance at December 31, 2016 $ 72,778 $ 2,041 $ 74,819 U.S. pension assets include Company common stock in the amounts of $1.3 million ( 3% of total U.S. plan assets) and $0.8 million ( 2% of total U.S. plan assets) at December 31, 2016 and 2015 , respectively. During 2013, it was discovered that the Company’s subsidiary in the U.K. did not appropriately amend a trust for a lega cy change in its pension scheme as it related to a past retirement age equalization law. Given the lack of an official deed to the pen sion trust, the effec tive date of the change to the s ubsidiary’s pension scheme differed from the Company’s historical beliefs, but the extent of the potential exposure was not estimable. In the first quarter of 2014, the Company recorded costs of $ 0. 9 mi llion , or $0.05 per diluted share, related to prior service cost and interest cost, to appropriately reflect the past plan amendment related to the retirement age equalization law. Cash Flows Contributions The Company expects to make minimum cash contributions of $7.8 million to its pension plans ( $4.6 million Domestic and $3.2 million Foreign) and $0.5 million to its other postretirement benefit plan in 2017 . Estimated Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Other Post- Pension Benefits Retirement Foreign Domestic Total Benefits 2017 $ 1,780 $ 4,929 $ 6,709 $ 451 2018 1,946 4,642 6,588 444 2019 2,094 4,605 6,699 432 2020 2,311 4,354 6,665 407 2021 2,922 4,346 7,268 385 2022 to 2026 16,581 23,445 40,026 1,611 The Company maintains a plan under which supplemental retirement benefits are provided to certain officers. Benefits payable under the plan are based on a combination of years of service and existing postretirement benefits. Included in total pension costs are charges of $0.9 million , $0.9 million and $0.8 million in 2016 , 2015 and 2014 , respectively, representing the annual accrued benefits under this plan. Defined Contribution Plan The Company has a 401 (k) plan with an employer match covering a majority of its domestic employees. The plan allows for and the Company has paid a nonelective contribution on behalf of participants who have completed one year of service equal to 3% of the eligible participant s’ compensation in the form of Company common stock. Total Company contributions were $2.7 million , $2.6 million and $2.5 million for 2016 , 2015 and 2014 , respectively. |