Pension And Other Postretirement Benefits Disclosure [Text Block] | Note 21 – Pension and Other Postretirement The following table shows the funded status of the Company’s Balance Sheets as of December 31, 2020 and 2019: Other Post- Pension Benefits Retirement Benefits 2020 2019 2020 2019 Foreign U.S. Total Foreign U.S. Total U.S. U.S. Change in benefit obligation Gross benefit obligation at beginning of year $ 217,893 $ 153,723 $ 371,616 $ 111,316 $ 58,734 $ 170,050 $ 4,266 $ 4,106 Service cost 4,340 491 4,831 3,507 434 3,941 5 6 Interest cost 3,416 2,923 6,339 3,046 3,313 6,359 77 143 Employee contributions 73 — 73 73 — 73 — — Effect of plan amendments — 50 50 30 — 30 — — Curtailment gain (2,324) — (2,324) — — — — — Plan settlements (2,316) (53,494) (55,810) (1,087) — (1,087) — — Benefits paid (5,087) (6,138) (11,225) (3,832) (6,034) (9,866) (250) (384) Plan expenses and premiums paid (135) — (135) (129) — (129) — — Transfer in of business acquisition — — — 85,658 86,414 172,072 — — Actuarial loss (gain) 16,834 12,414 29,248 13,616 10,862 24,478 (864) 395 Translation differences and 14,981 — 14,981 5,695 — 5,695 — — Gross benefit obligation at end of year $ 247,675 $ 109,969 $ 357,644 $ 217,893 $ 153,723 $ 371,616 $ 3,234 $ 4,266 Other Post- Pension Benefits Retirement Benefits 2020 2019 2020 2019 Foreign U.S. Total Foreign U.S. Total U.S. U.S. Change in plan assets Fair value of plan assets at beginning of year $ 195,099 $ 120,550 $ 315,649 $ 94,826 $ 49,415 $ 144,241 $ — $ — Actual return on plan assets 20,367 10,759 31,126 13,458 10,663 24,121 — — Employer contributions 6,912 2,302 9,214 5,223 1,087 6,310 250 384 Employee contributions 73 — 73 73 — 73 — — Plan settlements (2,316) (53,494) (55,810) (1,087) — (1,087) — — Benefits paid (5,087) (6,138) (11,225) (3,832) (6,034) (9,866) (250) (384) Plan expenses and premiums paid (135) (498) (633) (129) (500) (629) — — Transfer in of business acquisition — — — 81,068 65,919 146,987 — — Translation differences 13,876 — 13,876 5,499 — 5,499 — — Fair value of plan assets at end of year $ 228,789 $ 73,481 $ 302,270 $ 195,099 $ 120,550 $ 315,649 $ — $ — Net benefit obligation recognized $ (18,886) $ (36,488) $ (55,374) $ (22,794) $ (33,173) $ (55,967) $ (3,234) $ (4,266) Amounts recognized in the balance sheet consist of: Non-current assets $ 6,748 $ — $ 6,748 $ — $ — $ — $ — $ — Current liabilities (568) (612) (1,180) (359) (2,620) (2,979) (286) (426) Non-current liabilities (25,066) (35,876) (60,942) (22,435) (30,553) (52,988) (2,948) (3,840) Net benefit obligation recognized $ (18,886) $ (36,488) $ (55,374) $ (22,794) $ (33,173) $ (55,967) $ (3,234) $ (4,266) Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss: Prior service credit (26) 50 24 1,271 — 1,271 — — Accumulated loss (21,976) (5,532) (27,508) (22,816) (46,560) (69,376) 124 (734) AOCI (22,002) (5,482) (27,484) (21,545) (46,560) (68,105) 124 (734) Cumulative employer contributions (below) or in excess of benefit cost 3,116 (31,006) (27,890) (1,249) 13,387 12,138 (3,358) (3,532) Net benefit obligation recognized $ (18,886) $ (36,488) $ (55,374) $ (22,794) $ (33,173) $ (55,967) $ (3,234) $ (4,266) The accumulated benefit obligation for all defined benefit $344.4 ($109.5 $234.9 million Foreign) and $366.0 $152.9 $213.1 2019, respectively. Information for pension plans with an accumulated benefit 2020 2019 Foreign U.S. Total Foreign U.S. Total Projected benefit obligation $ 32,373 $ 109,969 $ 142,342 $ 217,893 $ 153,723 $ 371,616 Accumulated benefit obligation 30,892 109,540 140,432 213,060 152,930 365,990 Fair value of plan assets 18,074 73,481 91,555 195,099 120,550 315,649 Information for pension plans with a projected 2020 2019 Foreign U.S. Total Foreign U.S. Total Projected benefit obligation $ 32,373 $ 109,969 $ 142,342 $ 217,893 $ 153,723 $ 371,616 Fair value of plan assets 18,074 73,481 91,555 195,099 120,550 315,649 Components of net periodic benefit costs – pension plans: 2020 2019 Foreign U.S. Total Foreign U.S. Total Service cost $ 4,340 $ 491 $ 4,831 $ 3,507 $ 434 $ 3,941 Interest cost 3,416 2,923 6,339 3,046 3,313 6,359 Expected return on plan assets (4,262) (4,810) (9,072) (3,668) (3,227) (6,895) Settlement loss (88) 22,667 22,579 258 — 258 Curtailment charge (1,155) — (1,155) — — — Actuarial loss amortization 886 2,110 2,996 757 2,348 3,105 Prior service (credit) cost amortization (167) — (167) (165) — (165) Net periodic benefit cost $ 2,970 $ 23,381 $ 26,351 $ 3,735 $ 2,868 $ 6,603 2018 Foreign U.S. Total Service cost $ 3,426 $ 383 $ 3,809 Interest cost 2,254 1,847 4,101 Expected return on plan assets (2,228) (2,803) (5,031) Settlement loss 2 — 2 Actuarial loss amortization 881 2,276 3,157 Prior service (credit) cost amortization (175) 59 (116) Net periodic benefit cost $ 4,160 $ 1,762 $ 5,922 Other changes recognized in other comprehensive 2020 2019 Foreign U.S. Total Foreign U.S. Total Net (gain) loss arising during the period $ (1,594) $ 1,536 $ (58) $ 3,826 $ 3,926 $ 7,752 Effect of plan amendment Recognition of amortization in net periodic benefit cost Settlement (loss) (39) (22,667) (22,706) — — — Prior service credit (cost) 1,325 50 1,375 196 — 196 Actuarial loss (758) 3,967 3,209 (1,015) (2,347) (3,362) Curtailment Recognition (3) — (3) — — — Effect of exchange rates on amounts included in AOCI 1,535 — 1,535 (61) — (61) Total recognized comprehensive loss (income) 466 (17,114) (16,648) 2,946 1,579 4,525 Total recognized benefit cost and other comprehensive loss (income) $ 3,436 $ 6,267 $ 9,703 $ 6,681 $ 4,447 $ 11,128 2018 Foreign U.S. Total Net gain arising during period $ (663) $ 453 $ (210) Recognition of amortization in net periodic benefit Prior service credit (cost) 175 (59) 116 Actuarial loss (883) (2,276) (3,159) Effect of exchange rates on amounts included (890) — (890) Total recognized (2,261) (1,882) (4,143) Total recognized other comprehensive loss $ 1,899 $ (120) $ 1,779 Components of net periodic benefit costs – other postretirement 2020 2019 2018 Service cost $ 5 $ 6 $ 7 Interest cost 77 143 130 Actuarial loss amortization (5) — 42 Net periodic benefit costs $ 77 $ 149 $ 179 Other changes recognized in other comprehensive 2020 2019 2018 Net (gain) loss arising during period $ (864) $ 395 $ (443) Amortization of actuarial loss in net periodic benefit costs 5 — (42) Total recognized loss (859) 395 (485) Total recognized other comprehensive (income) loss $ (782) $ 544 $ (306) Weighted-average Other Postretirement Pension Benefits Benefits 2020 2019 2020 2019 U.S. Plans: Discount rate 2.19 % 3.06 % 2.05 % 2.98 % Rate of compensation increase 6.00 % 6.00 % N/A N/A Foreign Discount rate 1.79 % 1.83 % N/A N/A Rate of compensation increase 2.74 % 2.58 % N/A N/A Weighted-average 2019: Other Postretirement Pension Benefits Benefits 2020 2019 2020 2019 U.S. Plans: Discount rate 3.11 % 4.08 % 2.99 % 4.03 % Expected long-term return on plan assets 6.50 % 5.75 % N/A N/A Rate of compensation increase 6.00 % 5.50 % N/A N/A Foreign Plans: Discount rate 2.30 % 2.30 % N/A N/A Expected long-term return on plan assets 2.20 % 3.13 % N/A N/A Rate of compensation increase 2.79 % 2.87 % N/A N/A The long-term rates of return on assets were selected from returns for the asset classes covered by the investment benefits are payable to plan participants. Assumed health care cost trend rates 2020 2019 Health care cost trend rate for next year 5.70 % 5.90 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.50 % 4.50 % Year 2037 2037 Plan Assets and Fair Value The Company’s pension by asset category were as follows: Asset Category Target 2020 2019 U.S. Plans Equity securities 10 % 58 % 32 % Debt securities 90 % 36 % 64 % Other 0 % 6 % 4 % Total 100 % 100 % 100 % Foreign Plans Equity securities 37 % 33 % 34 % Debt securities 53 % 45 % 45 % Other 10 % 22 % 21 % Total 100 % 100 % 100 % As of December 31, 2020 and 2019, “Other” consisted principally funds. The following is a description of the valuation methodologies general classification of such instruments pursuant to Cash and Cash Cash and Commingled Funds Investments including and these investments are valued using investments As of December 31, 2020, the foreign pension plan commingled 35 equity securities, 51 14 real estate. Pooled Separate Investments unit value based on the As of December 31, 2020, the U.S. pension plan pooled separate accounts included approximately 61 percent of investments in equity securities and 39 percent of investments in fixed income securities. Fixed Income Investments in foreign pension plans fixed income government which are based on a combination of quoted market models and Insurance Investments in the foreign pension plan insurance contract end, either the reported cash surrender value of the contract the vested benefit obligation are determined based on unobservable regarding returns, fees, the present value of the future cash as a Level 3 investment. Diversified Investments quoted redemption or in an in an active Fixed Income Investments quoted redemption or in an in an active Diversified Investment Fund - Registered Investments redemption and this investment December 31, 62 19 of investments 19 Other – Alternative Investments Investments These investments the present investments. Real Estate The U.S. and foreign pension plans’ investment in real estate consists underlying investments consist of real property which as a Level 3 investment. As of December 31, 2020 and 2019, the U.S. and foreign follows: Fair Value Total Using Fair Value U.S. Pension Assets Fair Value Level 1 Level 2 Level 3 Pooled separate accounts $ 69,385 $ — $ 69,385 $ — Real estate 4,096 — — 4,096 Subtotal U.S. pension plan assets in fair value hierarch $ 73,481 $ — $ 69,385 $ 4,096 Total U.S. pension $ 73,481 Foreign Pension Assets Cash and cash equivalents $ 634 $ 634 $ — $ — Insurance contract 112,920 — — 112,920 Diversified equity securities - registered investment companies 8,851 — 8,851 — Fixed income – foreign registered investment companies 3,711 — 3,711 — Fixed income government securities 37,579 — 37,579 — Real estate 5,679 — — 5,679 Other - alternative investments 10,638 — — 10,638 Sub-total of foreign pension assets in fair value hierarchy $ 180,012 $ 634 $ 50,141 $ 129,237 Commingled funds measured at NAV 2,368 Diversified investment fund - companies measured at NAV 46,409 Total foreign pension $ 228,789 Total pension $ 253,493 $ 634 $ 119,526 $ 133,333 Total pension 48,777 Total pension $ 302,270 Fair Value Total Using Fair Value U.S. Pension Assets Fair Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 450 $ 450 $ — $ — Pooled separate accounts 64,636 — 64,636 — Real estate 4,060 — — 4,060 Subtotal U.S. pension plan assets in fair value hierarch $ 69,146 $ 450 $ 64,636 $ 4,060 Commingled funds measured at NAV 51,404 Total U.S. pension $ 120,550 Foreign Pension Assets Cash and cash equivalents $ 1,502 $ 1,502 $ — $ — Insurance contract 92,657 — — 92,657 Diversified equity securities - registered investment companies 8,604 — 8,604 — Fixed income – foreign registered investment companies 3,021 — 3,021 — Fixed income government securities 32,512 — 32,512 — Real estate 5,521 — — 5,521 Other - alternative investments 9,436 — — 9,436 Sub-total of foreign pension assets in fair value hierarchy $ 153,253 $ 1,502 $ 44,137 $ 107,614 Commingled funds measured at NAV 2,037 Diversified investment fund - companies measured at NAV 39,809 Total foreign pension $ 195,099 Total pension $ 222,399 $ 1,952 $ 108,773 $ 111,674 Total pension 93,250 Total pension $ 315,649 Certain investments that are measured at fair value using value hierarchy. of the fair value hierarchies to the line items presented Changes in the fair value of the plans’ Level 3 investments Insurance Alternative Contract Real Estate Investments Total Balance as of December 31, 2018 $ 79,873 2,382 — $ 82,255 Purchases 3,762 — 1,029 4,791 Assets acquired in business combinations 129 7,058 8,914 16,101 Sales — (238) (278) (516) Settlements (1,730) — — (1,730) Unrealized (losses) gains 12,199 403 (960) 11,642 Currency translation adjustment (1,576) (24) 731 (869) Balance as of December 31, 2019 92,657 9,581 9,436 111,674 Purchases 3,902 18 989 4,909 Settlements (2,027) — — (2,027) Unrealized gains (losses) 8,917 (16) (171) 8,730 Currency translation adjustment 9,471 192 384 10,047 Balance as of December 31, 2020 $ 112,920 $ 9,775 $ 10,638 $ 133,333 In the fourth quarter of 2018, the Company began the plan (“Legacy Quaker U.S. Pension Plan”). determination letter from the Internal Revenue Service during the first quarter of 2020. Benefit Guaranty Corporation requirements, the Company termination basis and the amount necessary to do so 1.8 quarter of 2020, the Company finalized the amount approximately $ 1.6 approximately $ 22.7 losses within AOCI on the balance sheet as of the plan In connection with the Combination, the Company indirectly included in the tables set forth above. employees in the U.K., France and Germany. compensation received for the highest five consecutive years and service and a percentage of compensation The Company contributes to a multiemployer defined (the Cleveland Bakers and Teamsters collective bargaining contract is May 1, 2022 . total plan liabilities were approximately $ 589 of approximately $ 364 bargaining union contract and contributions are 0.1 million during the year ended December 31, 2020. Employer Pension Plan Amendments Act of 1980, imposes multiemployer pension plan if the employer withdraws While the Company may also have additional liabilities imposed benefit pension plan, there is no The Pension Protection Act of 2006 (the “PPA”) years beginning after 2007 for multiemployer plans with example, the plan’s funded deficiency). measures to improve their funded status through a contributions from employers (which may take the form benefits. estimated as such amounts will be likely based on by the plan, and the amount of that future work and Cash Flows Contributions The Company expects to make minimum cash contributions $10.0 $5.9 $4.1 $0.3 Estimated Future Benefit Payments Excluding any impact related to the PPA appropriate, are expected to be paid: Other Post- Pension Benefits Retirement Foreign U.S. Total Benefits 2021 $ 6,658 $ 5,923 $ 12,581 $ 286 2022 6,939 5,298 12,237 278 2023 7,024 6,072 13,096 265 2024 6,745 6,234 12,979 245 2025 7,394 6,228 13,622 226 2025 to 2029 42,522 30,443 72,965 923 The Company maintains a plan under which supplemental under the plan are based on a combination of years of charges of $ 2.5 1.8 1.6 representing the annual accrued benefits under this Defined Contribution Plan The Company has a 401(k) plan with an employer Company previously paid a nonelective contribution the eligible participants’ compensation in the form elective and elective 401(k) matching contributions both non-elective and elective 401(k) contributions in 8 of Notes to Consolidated Financial Statements. 5.7 4.0 3.1 the years ended December 31, 2020, 2019 and 2018, |