U.K. Pension Plan (Tables)

12 Months Ended

Dec. 31, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Schedule of Funding Obligations and Assets

The following table summarizes the funding obligations and assets of the Pension Program as of December 31, 2016 and 2015 (dollars in thousands):

	2016			2015
Projected benefit obligation (100%)	$	607,003		$	580,054
Fair value of plan assets (100%)	450,281			462,177
Funded status (100%)	(156,722		)	(117,877		)
Employees' share of deficit (40%)	(62,689		)	(47,152		)
Net pension liability recognized in the balance sheet (60%)	$	(94,033	)	$	(70,725	)

Schedule of Changes in Projected Benefit Obligations

The following table presents the changes in the Company's portion of the benefit obligation and fair value of plan assets of the Pension Program for the years ended December 31, 2016 and 2015 and funded status as of December 31, 2016 and 2015 (dollars in thousands):

	2016			2015
Change in benefit obligations:
Benefit obligation at beginning of period	$	348,033		$	359,941
Service cost	11,816			10,911
Interest cost	10,992			8,475
Benefits paid	(8,853		)	(5,890		)
Actuarial loss/(gain)	59,008			(21,731		)
Exchange rate changes	(56,794		)	(3,673		)
Benefit obligation at end of year	$	364,202		$	348,033
Change in plan assets:
Fair value of plan assets at beginning of period	$	277,308		$	274,787
Actual return on plan assets	38,360			1,609
Benefits paid	(8,853		)	(5,890		)
Employer contributions	8,607			9,606
Exchange rate changes	(45,253		)	(2,804		)
Fair value of plan assets at end of year	$	270,169		$	277,308
Funded status of the Pension Plan	$	(94,033	)	$	(70,725	)

Schedule of Changes in Fair Value of Plan Assets

The following table presents the changes in the Company's portion of the benefit obligation and fair value of plan assets of the Pension Program for the years ended December 31, 2016 and 2015 and funded status as of December 31, 2016 and 2015 (dollars in thousands):

	2016			2015
Change in benefit obligations:
Benefit obligation at beginning of period	$	348,033		$	359,941
Service cost	11,816			10,911
Interest cost	10,992			8,475
Benefits paid	(8,853		)	(5,890		)
Actuarial loss/(gain)	59,008			(21,731		)
Exchange rate changes	(56,794		)	(3,673		)
Benefit obligation at end of year	$	364,202		$	348,033
Change in plan assets:
Fair value of plan assets at beginning of period	$	277,308		$	274,787
Actual return on plan assets	38,360			1,609
Benefits paid	(8,853		)	(5,890		)
Employer contributions	8,607			9,606
Exchange rate changes	(45,253		)	(2,804		)
Fair value of plan assets at end of year	$	270,169		$	277,308
Funded status of the Pension Plan	$	(94,033	)	$	(70,725	)

Schedule of Amounts Recognized in Balance Sheet

The following table presents the amounts recognized for the Pension Program in the consolidated balance sheets as of December 31, 2016 and 2015 and in other comprehensive income/(loss) for the years ended December 31, 2016 and 2015 (dollars in thousands):

	2016			2015
Amounts recognized in the consolidated balance sheet:
Accrued expenses	$	9,047		$	7,994
Other long-term liabilities	84,986			62,731
Total amount recognized in the consolidated balance sheet	$	94,033		$	70,725
Amount recognized in other comprehensive income/(loss):
Net actuarial (loss)/gain	$	(25,234	)	$	13,198

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The following table presents the amounts recognized for the Pension Program in the consolidated balance sheets as of December 31, 2016 and 2015 and in other comprehensive income/(loss) for the years ended December 31, 2016 and 2015 (dollars in thousands):

	2016			2015
Amounts recognized in the consolidated balance sheet:
Accrued expenses	$	9,047		$	7,994
Other long-term liabilities	84,986			62,731
Total amount recognized in the consolidated balance sheet	$	94,033		$	70,725
Amount recognized in other comprehensive income/(loss):
Net actuarial (loss)/gain	$	(25,234	)	$	13,198

Schedule of Net Benefit Costs

The following table summarizes the components of the Pension Program related to the net benefit costs recognized in labor and benefits in the Company's consolidated statement of operations for the year ended December 31, 2016 and 2015 (dollars in thousands):

	2016			2015
Service cost	$	11,816		$	10,911
Interest cost	10,992			8,475
Expected return on plan assets	(14,050		)	(12,029		)
Exchange rate changes	862			291
Net periodic benefit cost	$	9,620		$	7,648

Schedule of Assumptions Used

The following table presents the actuarial assumptions used to compute the funded status of the Pension Program as of December 31, 2016 and 2015:

	2016		2015
Discount rate	2.7	%	3.8	%
Price inflation (RPI measure)	3.3	%	3.1	%
Pension increases (CPI measure)	2.2	%	2.0	%
Salary increases	3.3	%	3.7	%

The following table presents the actuarial assumptions used for the calculation of net periodic expense associated with Pension Program for the years ended December 31, 2016 and 2015:

	2016		2015
Discount rate	3.8	%	3.2	%
Price inflation (RPI measure)	3.1	%	3.0	%
Pension increases (CPI measure)	2.0	%	1.7	%
Salary increases	3.7	%	3.4	%
Expected return on plan assets	6.1	%	5.9	%

The discount rates used by the actuaries are established by considering the yields on high quality corporate bonds having a similar duration as the expected liabilities under the Pension Program. The following table presents the change in pension liability due to one percentage point change in the discount rate and retail price index (RPI) as of December 31, 2016 (dollars in thousands):

	Change in Pension Liability
Discount Rate +1% per annum	$	(68,200	)
Discount Rate -1% per annum	$	90,400
RPI inflation +1% per annum	$	89,700
RPI inflation -1% per annum	$	(69,100	)

Schedule of Asset Allocation Policy

The Pension Program's asset allocation policy states the assets should be allocated as follows:

	Percentage
Asset category:
Return-seeking assets	81	%
Defensive/other assets	19	%
Total	100	%

Schedule of Defined Benefit Plan Expected Return on Assets

The following table provides the Pension Program's allocation of assets among the pooled investment funds and the expected return on assets for each pooled fund, net of expenses, as well as the weighted average expected return on assets used in the actuarial calculations as of December 31, 2016 and 2015:

	2016
	Weighted Average Expected Yields		Weighted Average Asset Allocation		Weighted Average Expected Return on Plan Assets
Growth, private equity and infrastructure pooled funds	7.1	%	82	%	5.8	%
Defensive and government bond pooled fund plus cash	1.5	%	18	%	0.3	%
Expected return on plan assets					6.1	%

	2015
	Weighted Average Expected Yields		Weighted Average Asset Allocation		Weighted Average Expected Return on Plan Assets
Growth, private equity and infrastructure pooled funds	6.9	%	81	%	5.6	%
Defensive and government bond pooled fund plus cash	2.8	%	19	%	0.5	%
Expected return on plan assets					6.1	%

Schedule of Allocation of Plan Assets

The following table presents the fair value of the major categories of the Pension Program's assets segregated according to the hierarchy of valuation inputs for measuring fair value as of December 31, 2016 and 2015 (dollars in thousands):

	2016		2015
Growth pooled fund (a)	$	182,630	$	182,697
Private equity pooled fund (b)	29,463		31,237
Government bond pooled fund (c)	47,030		52,463
Infrastructure pooled fund (d)	8,536		10,911
Long-term income pooled fund (e)	2,510		—
Fair value of plan assets	$	270,169	$	277,308

(a) The growth pooled fund is comprised of global equities, emerging market bonds and hedge funds. Fair value is measured using the net asset value per share.

(b) The private equity pooled fund is comprised of a series of sub funds, each representing a different vintage of private equity investment. Fair value is measured using the net asset value per share.

(c) The government bond pooled fund is comprised of government debt for developed markets, global investment grade corporate bonds and the non-government bond pooled fund. Fair value is measured using the net asset value per share.

(d) The infrastructure pooled fund is comprised of investments in facilities, structures and services required to facilitate the orderly operation of the economy. Fair value is measured using the net asset value per share.

(e) The long-term income pooled fund is comprised of investments offering inflation linkage, distributable income and are British pound denominated. Fair value is measured using the net asset value per share.

Schedule of Expected Benefit Payments

The following benefit payments are expected to be paid between 2017 and 2026 (dollars in thousands):

	Amount
2017	$	9,047
2018	$	9,246
2019	$	9,450
2020	$	9,657
2021	$	9,870
2022 - 2026	$	52,108