PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Dec. 31, 2014

Pension and Other Postretirement Benefit Expense [Abstract]

The following table sets forth a reconciliation of the related benefit obligation and plan assets related to the benefits provided by the Company (in thousands):



	Pension Benefits						Other Benefits
	2014			2013			2014			2013
Change in projected benefit obligation:
Projected benefit obligation at beginning of the period	$	261,714		$	278,416		$	10,063		$	11,146
Service cost	6,937			8,009			23			37
Interest cost	13,341			12,066			385			325
Participant contributions	—			—			326			275
Actuarial (gain) loss	58,922			(31,585		)	(362		)	(583		)
Benefits paid	(36,476		)	(5,192		)	(1,324		)	(1,137		)
Liability loss related to curtailment	—			—			693			—
Liability gain related to settlement	(8,022		)	—			—			—
Projected benefit obligation at end of the period	$	296,416		$	261,714		$	9,804		$	10,063
Accumulated benefit obligation at end of the period	$	290,933		$	256,002		$	—		$	—
Change in plan assets:
Fair value of plan assets at beginning of the period	$	244,302		$	193,389		$	—		$	—
Actual return on plan assets	18,036			35,460			—			—
Employer contributions	—			20,645			998			862
Participant contributions	—			—			326			275
Benefits paid	(6,270		)	(5,192		)	(1,324		)	(1,137		)
Benefits paid related to settlement	(30,206		)	—			—			—
Fair value of plan assets at the end of period	$	225,862		$	244,302		$	—		$	—
Funded status	$	(70,554	)	$	(17,412	)	$	(9,804	)	$	(10,063	)

Schedule of assumptions used in computing the benefit obligation

Assumptions used in computing the benefit obligation as of December 31, 2014 and 2013 were as follows:



	Pension Benefits				Other Benefits
	2014		2013		2014	2013
Discount rate	4.20 - 4.27%		5.10 - 5.18%		3.03 - 4.20%	2.97 - 5.05%
Expected return on plan assets	7.10	%	7.10	%	N/A	N/A
Rate of compensation increase	2.50	%	2.50	%	N/A	N/A

Schedule of pension plan investments measured at fair value

The following table presents the fair value of the Company's pension plan investments as of December 31, 2014 and 2013 (in thousands):



	Level 1		Level 2		Level 3		Total
Equity Securities
U.S. equity securities	$	115,102	$	—	$	—	$	115,102
Non-U.S. equity securities	22,081		—		—		22,081
Debt Securities
Fixed income funds and cash investment funds	88,679		—		—		88,679
December 31, 2014	$	225,862	$	—	$	—	$	225,862
Equity Securities
U.S. equity securities	$	128,766	$	—	$	—	$	128,766
Non-U.S. equity securities	25,461		—		—		25,461
Debt Securities
Fixed income funds and cash investment funds	90,075		—		—		90,075
December 31, 2013	$	244,302	$	—	$	—	$	244,302

Schedule of amounts related to the Company's pension plan recognized in consolidated balance sheet

See Note 2 of the consolidated financial statements for the description of the levels of the fair value hierarchy.



	Pension Benefits						Other Benefits
	2014			2013			2014			2013
	(in thousands)
Amounts recognized in the consolidated balance sheets consist of:
Current liabilities	$	—		$	(12,260	)	$	(1,039	)	$	(1,155	)
Noncurrent liabilities	(70,554		)	(5,152		)	(8,765		)	(8,908		)
Net amount recognized	$	(70,554	)	$	(17,412	)	$	(9,804	)	$	(10,063	)
Amounts recognized in accumulated other comprehensive income before taxes:
Net actuarial loss	$	58,780		$	18,239		$	1,018		$	1,913
Prior service cost (credit)	—			11			(2,768		)	(5,040		)
Net amount recognized	$	58,780		$	18,250		$	(1,750	)	$	(3,127	)

Schedule of amounts related to the Company's pension plan recognized in other comprehensive income

The following table sets forth other changes in the benefit obligation recognized in other comprehensive income for the Company's pension and other postretirement benefits plans (in thousands):



	Pension Benefits						Other Benefits
	2014			2013			2014			2013
Net actuarial loss (gain)	$	48,606		$	(53,134	)	$	330		$	(583	)
Amortization of:
Prior service (credit) cost	(10		)	(14		)	2,029			3,378
Actuarial (gain)	(2,006		)	(8,623		)	(534		)	(767		)
Loss recognized related to settlement	(6,060		)	—			—			—
Loss recognized related to curtailment	—			—			(449		)	—
Total recognized in OCI	$	40,530		$	(61,771	)	$	1,376		$	2,028

Schedule of components of the net periodic benefit cost

The following table sets forth the components of the net periodic benefit cost for the Company's pension and other postretirement benefit plans (in thousands):



	Pension Benefits									Other Benefits
	2014			2013			2012			2014			2013			2012
Service cost	$	6,937		$	8,009		$	7,209		$	23		$	37		$	50
Interest cost	13,341			12,066			11,819			385			325			457
Expected return on plan assets	(15,743		)	(13,912		)	(12,523		)	—			—			—
Amortization of prior service cost (credit)	10			14			14			(2,029		)	(3,378		)	(3,375		)
Recognized actuarial loss	2,006			8,623			4,108			534			767			983
Settlement and curtailment related expense	6,060			—			—			449			—			—
Net periodic benefit cost	$	12,611		$	14,800		$	10,627		$	(638	)	$	(2,249	)	$	(1,885	)

Schedule of assumptions used to determine net periodic benefit cost

Assumptions used to determine net periodic benefit cost for the years ended December 31, 2014, 2013, and 2012 were as follows:



	Pension Benefits						Other Benefits
	2014		2013		2012		2014	2013	2012
Discount rate	5.10 - 5.18%		4.30 - 4.40%		5.10 - 5.15%		2.69 - 5.05%	2.25 - 4.25%	3.40 - 5.05%
Expected return on plan assets	7.10	%	7.10	%	7.10	%	N/A	N/A	N/A
Rate of compensation increase	2.50	%	2.50	%	2.50	%	N/A	N/A	N/A

Schedule of weighted-average asset allocations by asset category

The Company's pension plans' weighted-average asset allocations as of December 31, 2014 and 2013, by asset category were as follows:



	Plan Assets at December 31,
	2014		2013
Asset Category:
Temporary investment funds	4	%	4	%
Equity investment funds	61		63
Fixed income funds	35		33
Total	100	%	100	%

Estimated future benefit payments under our pension and other postretirement plans

Estimated future benefit payments under the pension and other postretirement plans are as follows (in thousands):



	Pension Benefits		Other Benefits
2015	$	7,699	$	1,038
2016	8,958		1,023
2017	10,342		940
2018	11,678		851
2019	12,978		823
2020 - 2024	84,889		3,332