Pensions and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Retirement Plan amounts recorded on consolidated balance sheets

The following table summarizes amounts recorded on the consolidated balance sheets associated with these various retirement benefit plans:

	December 31,
	2014			2013
Included in "Other assets":
U.S. pension plans	$	12,964		$	15,708
Non-U.S. pension plans		212			257
Total included in other assets	$	13,176		$	15,965
Included in "Payroll and related expenses":
U.S. pension plans	$	(51	)	$	(51	)
Non-U.S. pension plans		(6,624	)		(7,644	)
U.S. other postretirement plans		(666	)		(638	)
Non-U.S. other postretirement plans		(349	)		-
Total included in payroll and related expenses	$	(7,690	)	$	(8,333	)
Accrued pension and other postretirement costs:
U.S. pension plans	$	(40,744	)	$	(35,397	)
Non-U.S. pension plans		(231,278	)		(224,280	)
U.S. other postretirement plans		(8,011	)		(6,703	)
Non-U.S. other postretirement plans		(6,934	)		(7,504	)
Other retirement obligations		(13,557	)		(14,017	)
Total accrued pension and other postretirement costs	$	(300,524	)	$	(287,901	)
Accumulated other comprehensive loss:
U.S. pension plans	$	88,474		$	84,384
Non-U.S. pension plans		88,076			61,652
U.S. other postretirement plans		(3,325	)		(5,782	)
Non-U.S. other postretirement plans		1,750			1,246
Total accumulated other comprehensive loss*	$	174,975		$	141,500

* - Amounts included in accumulated other comprehensive loss are presented in this table pre-tax.

Defined Benefit Pension Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Reconciliation of benefit obligation, plan assets, and funded status

The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to U.S. and non-U.S. pension plans:

	December 31, 2014						December 31, 2013
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Change in benefit obligation:
Benefit obligation at beginning of year	$	315,373		$	280,526		$	355,065		$	282,448
Service cost		-			3,275			-			3,499
Interest cost		13,821			8,555			13,882			8,150
Acquisitions		-			465			-			-
Plan amendments		-			-			-			23
Actuarial (gains) losses		50,584			40,021			(34,703	)		(5,134	)
Benefits paid		(18,940	)		(15,888	)		(18,871	)		(13,980	)
Curtailments and settlements		(59,363	)		(486	)		-			-
Currency translation		-			(29,622	)		-			5,520
Benefit obligation at end of year	$	301,475		$	286,846		$	315,373		$	280,526
Change in plan assets:
Fair value of plan assets at beginning of year	$	295,633		$	48,859		$	265,866			46,580
Actual return on plan assets		38,688			1,858			31,018			2,482
Acquisitions		-			10			-			-
Company contributions		17,626			17,015			17,620			14,781
Benefits paid		(18,940	)		(15,888	)		(18,871	)		(13,980	)
Curtailments and settlements		(59,363	)		(486	)		-			-
Currency translation		-			(2,212	)		-			(1,004	)
Fair value of plan assets at end of year	$	273,644		$	49,156		$	295,633		$	48,859
Funded status at end of year	$	(27,831	)	$	(237,690	)	$	(19,740	)	$	(231,667	)

Amounts recognized in consolidated balance sheet

Amounts recognized in the consolidated balance sheet consist of the following:

	December 31, 2014						December 31, 2013
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Other assets	$	12,964		$	212		$	15,708		$	257
Accrued benefit liability - currrent		(51	)		(6,624	)		(51	)		(7,644	)
Accrued benefit liability - non-current		(40,744	)		(231,278	)		(35,397	)		(224,280	)
Accumulated other comprehensive loss		88,474			88,076			84,384			61,652
	$	60,643		$	(149,614	)	$	64,644		$	(170,015	)

Components of actuarial items

Note 11 – Pensions and Other Postretirement Benefits (continued)

Actuarial items consist of the following:

	December 31, 2014				December 31, 2013
	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
Unrecognized net actuarial loss	$	87,195	$	88,076	$	83,161	$	61,652
Unamortized prior service cost		1,279		-		1,223		-
	$	88,474	$	88,076	$	84,384	$	61,652

Projected and accumulated benefit obligations

The following table sets forth additional information regarding the projected and accumulated benefit obligations:

	December 31, 2014				December 31, 2013
	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
Accumulated benefit obligation, all plans	$	301,475	$	269,069	$	315,373	$	260,558
Plans for which the accumulated benefit
obligation exceeds plan assets:
Projected benefit obligation	$	40,795	$	272,977	$	35,448	$	251,569
Accumulated benefit obligation		40,795		261,996		35,448		238,419
Fair value of plan assets		-		37,634		-		21,356

Components of the net periodic benefit costs

The following table sets forth the components of net periodic pension cost:

	Years ended December 31,
	2014						2013						2012
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Service cost net of employee contributions	$	-		$	3,275		$	-		$	3,499		$	-		$	3,247
Interest cost		13,821			8,555			13,882			8,150			15,699			9,374
Expected return on plan assets		(14,892	)		(2,109	)		(19,124	)		(2,084	)		(18,972	)		(1,667	)
Amortization of actuarial losses		7,166			2,700			14,566			3,407			12,960			1,681
Amortization of prior service cost (credit)		(56	)		(5	)		978			(12	)		2,200			60
Curtailment and settlement losses		15,588			1,137			-			959			-			-
Net periodic pension cost	$	21,627		$	13,553		$	10,302		$	13,919		$	11,887		$	12,695

Weighted average assumptions used

The following weighted average assumptions were used to determine benefit obligations at December 31 of the respective years:

	2014						2013
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Discount rate		4.00	%		2.15	%		5.00	%		3.11	%
Rate of compensation increase		0.00	%		1.97	%		0.00	%		1.99	%

The following weighted average assumptions were used to determine the net periodic pension costs for the years ended December 31, 2014 and 2013:

	Years ended December 31,
	2014						2013
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Discount rate		4.85	%		3.11	%		4.00	%		3.04	%
Rate of compensation increase		0.00	%		1.99	%		0.00	%		1.48	%
Expected return on plan assets		5.29	%		3.85	%		7.25	%		4.44	%

Estimated future benefit payments

Estimated future benefit payments are as follows:

	U.S. Plans		Non-U.S. Plans
2015	$	15,691	$	14,140
2016		16,037		14,230
2017		16,420		16,247
2018		23,084		14,968
2019		18,683		16,036
2020-2024		91,834		80,418

Other Postretirement Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Reconciliation of benefit obligation, plan assets, and funded status

The following table sets forth a reconciliation of the benefit obligation, plan assets, and accrued benefit cost related to U.S. and non-U.S. non-pension defined benefit postretirement plans:

	December 31, 2014						December 31, 2013
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Change in benefit obligation:
Benefit obligation at beginning of year	$	7,341		$	7,504		$	8,157		$	6,964
Service cost		115			307			111			299
Interest cost		351			244			314			257
Plan amendments		-			-			-			-
Actuarial (gains) losses		1,492			752			(639	)		398
Benefits paid		(622	)		(565	)		(602	)		(740	)
Currency translation		-			(959	)		-			326
Benefit obligation at end of year	$	8,677		$	7,283		$	7,341		$	7,504
Fair value of plan assets at end of year	$	-		$	-		$	-		$	-
Funded status at end of year	$	(8,677	)	$	(7,283	)	$	(7,341	)	$	(7,504	)

Amounts recognized in consolidated balance sheet

Amounts recognized in the consolidated balance sheet consist of the following:

	December 31, 2014						December 31, 2013
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Accrued benefit liability - current	$	(666	)	$	(349	)	$	(638	)	$	-
Accrued benefit liability - non-current		(8,011	)		(6,934	)		(6,703	)		(7,504	)
Accumulated other comprehensive income		(3,325	)		1,750			(5,782	)		1,246
	$	(12,002	)	$	(5,533	)	$	(13,123	)	$	(6,258	)

Components of actuarial items

Note 11 – Pensions and Other Postretirement Benefits (continued)

Actuarial items consist of the following:

	December 31, 2014					December 31, 2013
	U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans
Unrecognized net actuarial loss (gain)	$	(668	)	$	1,750	$	(2,301	)	$	1,246
Unamortized prior service (credit) cost		(2,657	)		-		(3,481	)		-
	$	(3,325	)	$	1,750	$	(5,782	)	$	1,246

Components of the net periodic benefit costs

The following table sets forth the components of net periodic benefit cost:

	Years ended December 31,
	2014					2013					2012
	U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans
Service cost	$	115		$	307	$	111		$	299	$	106		$	253
Interest cost		351			244		314			257		366			286
Amortization of actuarial (gains) losses		(140	)		38		4			8		(76	)		-
Amortization of prior service credit		(824	)		-		(798	)		-		(798	)		-
Amortization of transition obligation		-			-		-			-		32			-
Net periodic benefit cost (benefit)	$	(498	)	$	589	$	(369	)	$	564	$	(370	)	$	539

Weighted average assumptions used

The following weighted average assumptions were used to determine benefit obligations at December 31 of the respective years:

	2014						2013
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Discount rate		4.00	%		2.25	%		5.00	%		3.44	%
Rate of compensation increase		0.00	%		2.87	%		0.00	%		3.19	%

The following weighted average assumptions were used to determine the net periodic benefit costs for the years ended December 31, 2014 and 2013:

	Years ended December 31,
	2014						2013
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Discount rate		5.00	%		3.44	%		4.00	%		3.80	%
Rate of compensation increase		0.00	%		3.19	%		0.00	%		3.20	%

Estimated future benefit payments

Note 11 – Pensions and Other Postretirement Benefits (continued)

Estimated future benefit payments are as follows:

	U.S. Plans		Non-U.S. Plans
2015	$	666	$	349
2016		706		235
2017		722		348
2018		712		356
2019		695		544
2020-2024		3,088		3,136