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PENSION AND OTHER POST-EMPLOYMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
Schedule of Reconciliation of Related Benefit Obligation and Plan Assets
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
 
2018
 
2017
 
2018
 
2017
Change in projected benefit obligation:
 
 
 
 
 
 
 
Projected benefit obligation at beginning of the period
$
295,566

 
$
280,193

 
$
3,806

 
$
5,736

Expected administrative expenses
940

 
700

 
—

 
—

Interest cost
10,160

 
9,455

 
120

 
173

Plan amendments
—

 
—

 
—

 
(1,317
)
Participant contributions
—

 
—

 
209

 
206

Actuarial (gain) loss
(26,385
)
 
27,925

 
(43
)
 
(284
)
Benefits paid
(7,095
)
 
(7,617
)
 
(490
)
 
(708
)
Benefits paid related to settlement
(29,480
)
 
(11,969
)
 
—

 
—

Loss (gain) related to settlement
893

 
(472
)
 
—

 
—

Administrative expenses paid
(984
)
 
(2,649
)
 
—

 
—

Projected benefit obligation at end of the period
$
243,615

 
$
295,566

 
$
3,602

 
$
3,806

Accumulated benefit obligation at end of the period
$
243,615

 
$
295,566

 
$
—

 
$
—

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of the period
$
273,895

 
$
263,027

 
$
—

 
$
—

Actual return on plan assets
(10,306
)
 
33,103

 
—

 
—

Employer contributions
7,900

 
—

 
281

 
502

Participant contributions
—

 
—

 
209

 
206

Actual expenses paid
(984
)
 
(2,649
)
 
—

 
—

Benefits paid
(7,095
)
 
(7,617
)
 
(490
)
 
(708
)
Benefits paid related to settlement
(29,480
)
 
(11,969
)
 
—

 
—

Fair value of plan assets at the end of period
$
233,930

 
$
273,895

 
$
—

 
$
—

Funded status
$
(9,685
)
 
$
(21,671
)
 
$
(3,602
)
 
$
(3,806
)
Schedule of Assumptions Used in Computing the Benefit Obligation
Assumptions used in computing the benefit obligation as of December 31, 2018 and 2017 were as follows:
 
Pension Benefits

Other Benefits
 
2018

2017

2018

2017
Discount rate
4.37% - 4.46%

3.70 - 3.77%


3.30% - 4.32%

2.48 - 3.66%
Expected return on plan assets
4.60% - 7.10%

7.10
%

N/A

N/A
Rate of compensation increase
N/A
 
N/A

 
N/A
 
N/A
Schedule of Fair Value of Pension Plan investments
The following table presents the fair value of the Company's pension plan investments as of December 31, 2018 and 2017 (in thousands):
 
Level 1
 
Level 2
 
Level 3
 
Total
Equity Securities
 
 
 
 
 
 
 
U.S. equity securities
$
—

 
$
54,484

 
$
—

 
$
54,484

Non-U.S. equity securities
—

 
28,036

 
—

 
28,036

Debt Securities
 
 
 
 
 
 
 
Fixed income funds and cash investment funds
121,663

 
29,747

 
—

 
151,410

December 31, 2018
$
121,663

 
$
112,267

 
$
—

 
$
233,930

 
 
 
 
 
 
 
 
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
Schedule of Consolidated Balance Sheet Presentation for Components Relating to Company's Pension and OPEB Plans
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 (2)
 
Other Benefits (2)
 
2018
 
2017
 
2018
 
2017
Amounts recognized in the consolidated balance sheets consist of:
 
 
 
 
 
 
 
Noncurrent assets
$
4,245

 
$
—

 
$
—

 
$
—

Current liabilities
—

 
—

 
(301
)
 
(231
)
Noncurrent liabilities
(13,930
)
 
(21,671
)
 
(3,301
)
 
(3,575
)
Net amount recognized
$
(9,685
)
 
$
(21,671
)
 
$
(3,602
)
 
$
(3,806
)
Amounts recognized in accumulated other comprehensive income (loss) before taxes:
 
 
 
 
 
 
 
Net actuarial loss
$
55,923

 
$
60,256

 
$
1,043

 
$
1,015

Prior service (credit)
—

 
—

 
(2,580
)
 
(3,310
)
Net amount recognized
$
55,923

 
$
60,256

 
$
(1,537
)
 
$
(2,295
)
Schedule of Other Changes in Benefit Obligation Recognized in Other Comprehensive Income
The following table sets forth changes in the benefit obligation before income taxes recognized in other comprehensive income for the Company's pension and OPEB plans (in thousands):
 
Pension Benefits
 
Other Benefits
 
2018
 
2017
 
2018
 
2017
Net actuarial loss (gain)
$
2,390

 
$
12,794

 
$
(43
)
 
$
(227
)
Prior service (credit)
—

 
—

 
—

 
(1,400
)
Amortization of:
 
 
 
 
 
 
 
Prior service credit
—

 
—

 
730

 
1,485

Actuarial (loss) gain
(988
)
 
(704
)
 
71

 
(3
)
  Loss recognized related to settlement
(5,735
)
 
(2,162
)
 
—

 
—

Total recognized in OCI
$
(4,333
)
 
$
9,928

 
$
758

 
$
(145
)
Schedule of Components of the Net Periodic Benefit Cost
The following table sets forth the components of the net periodic benefit cost (income) for the Company's pension and OPEB plans (in thousands):
 
Pension Benefits
 
Other Benefits
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Expected administrative expenses
$
940

 
$
700

 
$
1,870

 
$
—

 
$
—

 
$
—

Interest cost
10,160

 
9,455

 
9,662

 
120

 
173

 
196

Expected return on plan assets
(17,574
)
 
(18,444
)
 
(14,782
)
 
—

 
—

 
—

Amortization of prior service cost (credit)
—

 
—

 
—

 
(730
)
 
(1,485
)
 
(1,120
)
Recognized actuarial loss (gain)
988

 
704

 
492

 
(71
)
 
3

 
(248
)
Settlement related expense (1)
5,735

 
2,162

 
—

 
—

 
—

 
—

Net periodic benefit cost (income)
$
249

 
$
(5,423
)
 
$
(2,758
)
 
$
(681
)
 
$
(1,309
)
 
$
(1,172
)
_______________________________________________________________________________
(1) The pension settlement charge for 2018 related to the purchase of annuities for certain plan retirees as well as cash payments for lump sum elections. The pension settlement charge for 2017 related to 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, 2018, 2017, and 2016 were as follows:
 
Pension Benefits

Other Benefits
 
2018

2017

2016

2018

2017

2016
Discount rate
3.70 - 3.77%


3.80 - 4.25%


4.55 - 4.65%


2.48 - 3.66%

2.35 - 4.20%

2.30 - 4.51%
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

 
N/A

 
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, 2018, 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
 
2018
 
2027 and thereafter
 
2018
 
2025 and thereafter
Healthcare
6.50
%
 
4.50
%
 
5.60% - 7.20%

 
4.50
%
Prescription drug
9.00
%
 
4.50
%
 
10.10
%
 
4.50
%
Schedule of Weighted-average Asset Allocations by Asset Category
The Company's pension plans' weighted-average asset allocations as of December 31, 2018 and 2017, by asset category were as follows:
 
Plan Assets at
December 31,
 
2018
 
2017
Asset Category:
 
 
 
Temporary investment funds
3
%
 
1
%
Equity investment funds
35
%
 
41
%
Fixed income funds
62
%
 
58
%
Total
100
%
 
100
%
Estimated Future Benefit Payments Under the Pension and OPEB plans
Estimated future benefit payments under the pension and OPEB plans are as follows (in thousands):
 
Pension Benefits
 
Other Benefits
2019
$
16,919

 
$
301

2020
17,246

 
254

2021
17,330

 
263

2022
17,366

 
262

2023
17,031

 
263

2024 - 2027
79,360

 
1,235