PENSION AND OTHER POST-EMPLOYMENT BENEFITS (Tables)

12 Months Ended

Dec. 31, 2017

Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]

Schedule of status of plans

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
	2017			2016			2017			2016
Change in projected benefit obligation:
Projected benefit obligation at beginning of the period	$	280,193		$	273,809		$	5,736		$	6,294
Service cost	700			1,870			—			—
Interest cost	9,455			9,662			173			196
Plan amendments	—			—			(1,317		)	(998		)
Participant contributions	—			—			206			206
Actuarial (gain) loss	27,925			7,207			(284		)	1,076
Benefits paid	(19,586		)	(11,943		)	(708		)	(1,038		)
(Gain) related to settlement	(472		)	—			—			—
Administrative expenses paid	(2,649		)	(412		)	—			—
Projected benefit obligation at end of the period	$	295,566		$	280,193		$	3,806		$	5,736
Accumulated benefit obligation at end of the period	$	295,566		$	280,193		$	—		$	—
Change in plan assets:
Fair value of plan assets at beginning of the period	$	263,027		$	210,556		$	—		$	—
Actual return on plan assets	33,103			11,662			—			—
Employer contributions	—			53,164			502			832
Participant contributions	—			—			206			206
Actual expenses paid	(2,649		)	(412		)	—			—
Benefits paid	(19,586		)	(11,943		)	(708		)	(1,038		)
Fair value of plan assets at the end of period	$	273,895		$	263,027		$	—		$	—
Funded status	$	(21,671	)	$	(17,166	)	$	(3,806	)	$	(5,736	)

Schedule of assumptions used in computing the benefit obligation

Assumptions used in computing the benefit obligation as of December 31, 2017 and 2016 were as follows:

	Pension Benefits				Other Benefits
	2017		2016		2017	2016
Discount rate	3.70 - 3.77%		4.16 - 4.25%		2.48 - 3.66%	2.35 - 4.20%
Expected return on plan assets	7.10	%	7.10	%	N/A	N/A
Rate of compensation increase	N/A		N/A		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, 2017 and 2016 (in thousands):

	Level 1		Level 2		Level 3		Total
Equity Securities
U.S. equity securities	$	—	$	75,944	$	—	$	75,944
Non-U.S. equity securities	—		37,042		—		37,042
Debt Securities
Fixed income funds and cash investment funds	123,867		37,042		—		160,909
December 31, 2017	$	123,867	$	150,028	$	—	$	273,895
Equity Securities
U.S. equity securities	$	103,649	$	—	$	—	$	103,649
Non-U.S. equity securities	36,936		—		—		36,936
Debt Securities
Fixed income funds and cash investment funds	122,442		—		—		122,442
December 31, 2016	$	263,027	$	—	$	—	$	263,027

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

The following table sets forth the consolidated balance sheets presentation for components relating to the Company's pension and OPEB plans (in thousands):

	Pension Benefits						Other Benefits
	2017			2016			2017			2016
Amounts recognized in the consolidated balance sheets consist of:
Current liabilities	$	—		$	—		$	(231	)	$	(612	)
Noncurrent liabilities	(21,671		)	(17,166		)	(3,575		)	(5,124		)
Net amount recognized	$	(21,671	)	$	(17,166	)	$	(3,806	)	$	(5,736	)
Amounts recognized in accumulated other comprehensive income (loss) before taxes:
Net actuarial loss (gain)	$	60,256		$	50,327		$	1,015		$	1,302
Prior service cost (credit)	—			—			(3,310		)	(3,477		)
Net amount recognized	$	60,256		$	50,327		$	(2,295	)	$	(2,175	)

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 OPEB plans (in thousands):

	Pension Benefits						Other Benefits
	2017			2016			2017			2016
Net actuarial loss (gain)	$	12,794		$	10,326		$	(227	)	$	581
Prior service (credit)	—			—			(1,400		)	(998		)
Amortization of:
Prior service credit	—			—			1,485			1,120
Actuarial (loss) gain	(704		)	(492		)	(3		)	248
Loss recognized related to settlement	(2,162		)	—			—			—
Total recognized in OCI	$	9,928		$	9,834		$	(145	)	$	951

The following table sets forth the estimated net actuarial loss and prior service credit for the Company's pension and OPEB plans included in accumulated other comprehensive income and expected to be recognized in net periodic pension cost during the fiscal year ended December 31, 2018 (in thousands):

	Pension Benefits			Other Benefits
	2018			2018
Prior service credit	—			730
Actuarial (loss) gain	(1,465		)	71
Total recognized in OCI	$	(1,465	)	$	801

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 OPEB plans (in thousands):

	Pension Benefits									Other Benefits
	2017			2016			2015			2017			2016			2015
Service cost	$	700		$	1,870		$	7,457		$	—		$	—		$	5
Interest cost	9,455			9,662			12,350			173			196			289
Expected return on plan assets	(18,444		)	(14,782		)	(14,455		)	—			—			—
Amortization of prior service cost (credit)	—			—			—			(1,485		)	(1,120		)	(852		)
Recognized actuarial loss (gain)	704			492			6,311			3			(248		)	(144		)
Settlement and curtailment related expense (1)	2,162			—			—			—			—			—
Net periodic benefit (income) cost	$	(5,423	)	$	(2,758	)	$	11,663		$	(1,309	)	$	(1,172	)	$	(702	)

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(1) The pension settlement charge was related to cash payments from lump sum elections made by employees affected by the restructuring activities in the second quarter of 2017.

Schedule of assumptions used to determine net periodic benefit cost

Assumptions used to determine net periodic benefit cost for the years ended December 31, 2017, 2016, and 2015 were as follows:

	Pension Benefits						Other Benefits
	2017		2016		2015		2017	2016	2015
Discount rate	3.80 - 4.25%		4.55 - 4.65%		4.18 - 4.54%		2.35 - 4.20%	2.30 - 4.51%	1.69 - 4.20%
Expected return on plan assets	7.10	%	7.10	%	7.10	%	N/A	N/A	N/A
Rate of compensation increase	N/A		N/A		2.50	%	N/A	N/A	N/A

Schedule of health care cost trend rates

For purposes of measuring the benefit obligation associated with the Company's OPEB plans as of December 31, 2017, as well as the assumed rate for 2018 the following rates were assumed to affect the per capita costs of the following covered benefits:

	Benefit obligation				Net periodic benefit cost
	2017		2025 and thereafter		2017		2023 - 2024
Healthcare	5.60 - 7.20%		4.50	%	5.80 - 6.20%		4.50	%
Prescription drug	10.10	%	4.50	%	11.10	%	4.50	%

The effect on benefit obligation of increasing/decreasing the healthcare cost trend rate and aggregate service and interest cost components by 1% is shown as follows for 2017 (in thousands):

	Accumulated Post-employment Benefit Obligation		Aggregate service and interest cost components
Increase	$	9	$	1
Decrease	8		1

Schedule of weighted-average asset allocations by asset category

The Company's pension plans' weighted-average asset allocations as of December 31, 2017 and 2016, by asset category were as follows:

	Plan Assets at December 31,
	2017		2016
Asset Category:
Temporary investment funds	1	%	1	%
Equity investment funds	41	%	53	%
Fixed income funds	58	%	46	%
Total	100	%	100	%

Estimated future benefit payments under our pension and other postretirement plans

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

	Pension Benefits		Other Benefits
2018	$	18,944	$	231
2019	19,012		235
2020	19,416		234
2021	19,460		241
2022	19,468		240
2023 - 2027	89,456		1,243