Benefit Plans (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
Defined Benefit Plan [Abstract] |
|
Schedule of Defined Benefit Plans Disclosures |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Pension Benefits | | Non-U.S. Pension Benefits | | Other Benefits | | Total | | 2018 | | 2017 | | 2018 | | 2017 | | 2018 | | 2017 | | 2018 | | 2017 | Change in benefit obligation: | |
| | |
| | |
| | |
| | |
| | |
| | | | | Benefit obligation at beginning of year | $ | 142,571 |
| | $ | 138,155 |
| | $ | 918,478 |
| | $ | 838,277 |
| | $ | 2,673 |
| | $ | 2,985 |
| | $ | 1,063,722 |
| | $ | 979,417 |
| Service cost, gross | 1,090 |
| | 565 |
| | 30,721 |
| | 29,600 |
| | — |
| | — |
| | 31,811 |
| | 30,165 |
| Interest cost | 4,242 |
| | 4,374 |
| | 8,630 |
| | 8,511 |
| | 66 |
| | 70 |
| | 12,938 |
| | 12,955 |
| Actuarial losses (gains) | (10,019 | ) | | 6,979 |
| | (40,469 | ) | | 33,036 |
| | (167 | ) | | 18 |
| | (50,655 | ) | | 40,033 |
| Plan amendments and other | — |
| | — |
| | 974 |
| | (15,153 | ) | | (8 | ) | | 137 |
| | 966 |
| | (15,016 | ) | Benefits paid | (7,682 | ) | | (7,502 | ) | | (36,379 | ) | | (30,356 | ) | | (378 | ) | | (537 | ) | | (44,439 | ) | | (38,395 | ) | Impact of foreign currency | — |
| | — |
| | (17,860 | ) | | 54,563 |
| | — |
| | — |
| | (17,860 | ) | | 54,563 |
| Benefit obligation at end of year | $ | 130,202 |
| | $ | 142,571 |
| | $ | 864,095 |
| | $ | 918,478 |
| | $ | 2,186 |
| | $ | 2,673 |
| | $ | 996,483 |
| | $ | 1,063,722 |
| Change in plan assets: | |
| | |
| | |
| | |
| | |
| | |
| | | | | Fair value of plan assets at beginning of year | $ | 111,567 |
| | $ | 104,103 |
| | $ | 808,215 |
| | $ | 716,169 |
| | $ | — |
| | $ | — |
| | $ | 919,782 |
| | $ | 820,272 |
| Actual return on plan assets | (8,419 | ) | | 14,869 |
| | (34,102 | ) | | 49,055 |
| | — |
| | — |
| | (42,521 | ) | | 63,924 |
| Employer contributions | 75 |
| | 97 |
| | 26,032 |
| | 22,961 |
| | 227 |
| | 400 |
| | 26,334 |
| | 23,458 |
| Plan participants’ contributions | — |
| | — |
| | 15,176 |
| | 13,503 |
| | 151 |
| | 137 |
| | 15,327 |
| | 13,640 |
| Benefits paid | (7,682 | ) | | (7,502 | ) | | (36,379 | ) | | (30,356 | ) | | (378 | ) | | (537 | ) | | (44,439 | ) | | (38,395 | ) | Impact of foreign currency and other | — |
| | — |
| | (11,532 | ) | | 36,883 |
| | — |
| | — |
| | (11,532 | ) | | 36,883 |
| Fair value of plan assets at end of year | $ | 95,541 |
| | $ | 111,567 |
| | $ | 767,410 |
| | $ | 808,215 |
| | $ | — |
| | $ | — |
| | $ | 862,951 |
| | $ | 919,782 |
| Funded status | $ | (34,661 | ) | | $ | (31,004 | ) | | $ | (96,685 | ) | | $ | (110,263 | ) | | $ | (2,186 | ) | | $ | (2,673 | ) | | $ | (133,532 | ) | | $ | (143,940 | ) |
|
Schedule of Amounts Recognized in Balance Sheet |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Pension Benefits | | Non-U.S. Pension Benefits | | Other Benefits | | Total | | 2018 | | 2017 | | 2018 | | 2017 | | 2018 | | 2017 | | 2018 | | 2017 | Other non-current assets | $ | — |
| | $ | — |
| | $ | 46,014 |
| | $ | 40,493 |
| | $ | — |
| | $ | — |
| | $ | 46,014 |
| | $ | 40,493 |
| Accrued and other liabilities | (110 | ) | | (88 | ) | | (4,884 | ) | | (4,990 | ) | | (431 | ) | | (411 | ) | | (5,425 | ) | | (5,489 | ) | Pension and other post-retirement liabilities | (34,551 | ) | | (30,916 | ) | | (137,815 | ) | | (145,766 | ) | | (1,755 | ) | | (2,262 | ) | | (174,121 | ) | | (178,944 | ) | Accumulated other comprehensive loss (income) | 61,344 |
| | 61,819 |
| | 260,820 |
| | 254,870 |
| | (910 | ) | | (2,365 | ) | | 321,254 |
| | 314,324 |
| Total | $ | 26,683 |
| | $ | 30,815 |
| | $ | 164,135 |
| | $ | 144,607 |
| | $ | (3,096 | ) | | $ | (5,038 | ) | | $ | 187,722 |
| | $ | 170,384 |
|
|
Schedule of Net Periodic Benefit Cost Not yet Recognized |
| | | | | | | | | | | | | | | | | | | | | | U.S. Pension Benefits | | Non-U.S. Pension Benefits | | Other Benefits | | Total | | Total, After Tax | Plan amendments and prior service cost | $ | — |
| | $ | (22,541 | ) | | $ | — |
| | $ | (22,541 | ) | | $ | (17,873 | ) | Actuarial losses (gains) | 61,344 |
| | 283,361 |
| | (910 | ) | | 343,795 |
| | 266,332 |
| Total | $ | 61,344 |
| | $ | 260,820 |
| | $ | (910 | ) | | $ | 321,254 |
| | $ | 248,459 |
|
|
Schedule of Changes in Accumulated Postemployment Benefit Obligations |
| | | | | | | | | | | | | | | | | | | | | | U.S. Pension Benefits | | Non-U.S. Pension Benefits | | Other Benefits | | Total | | Total, After Tax | Net actuarial losses (gains) | $ | 5,329 |
| | $ | 24,637 |
| | $ | (167 | ) | | $ | 29,799 |
| | $ | 23,326 |
| Plan amendment | — |
| | 974 |
| | — |
| | 974 |
| | 780 |
| Amortization of: | | | | | | |
|
| | | Actuarial (losses) gains | (5,804 | ) | | (21,521 | ) | | 1,250 |
| | (26,075 | ) | | (20,173 | ) | Plan amendments and prior service cost | — |
| | 6,947 |
| | 372 |
| | 7,319 |
| | 5,807 |
| Impact of foreign currency | — |
| | (5,087 | ) | | — |
| | (5,087 | ) | | (3,522 | ) | Total | $ | (475 | ) | | $ | 5,950 |
| | $ | 1,455 |
| | $ | 6,930 |
| | $ | 6,218 |
|
|
Schedule of Assumptions Used in Computing Benefit Obligation |
| | | | | | | | | | | | | | U.S. | | Non-U.S. | | 2018 | | 2017 | | 2018 | | 2017 | Discount rate | 4.11 | % | | 3.49 | % | | 1.22 | % | | 0.97 | % | Compensation increase rate | n/a |
| | n/a |
| | 0.87 | % | | 0.87 | % | Expected long-term rate of return on plan assets | 6.50 | % | | 6.50 | % | | 3.84 | % | | 3.86 | % |
|
Schedule of Assumptions Used in Computing Pension Cost |
| | | | | | | | | | | | | | | | | | | | U.S. | | Non-U.S. | | 2018 | | 2017 | | 2016 | | 2018 | | 2017 | | 2016 | Discount rate | 3.49 | % | | 3.97 | % | | 4.27 | % | | 0.97 | % | | 0.98 | % | | 1.31 | % | Compensation increase rate | n/a |
| | n/a |
| | n/a |
| | 0.87 | % | | 0.85 | % | | 1.03 | % | Expected long-term rate of return on plan assets | 6.50 | % | | 6.75 | % | | 7.25 | % | | 3.86 | % | | 4.09 | % | | 4.58 | % |
|
Schedule of Net Benefit Costs [Table Text Block] |
Net periodic pension cost and net periodic post-retirement benefit for the defined benefit plans and U.S. post-retirement plan include the following components for the years ended December 31: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. | | Non-U.S. | | Other Benefits | | Total | 2018 | | 2017 | | 2016 | | 2018 | | 2017 | | 2016 | | 2018 | | 2017 | | 2016 | | 2018 | | 2017 | | 2016 | Service cost, net | $ | 1,090 |
| | $ | 565 |
| | $ | 432 |
| | $ | 15,545 |
| | $ | 16,341 |
| | $ | 16,804 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 16,635 |
| | $ | 16,906 |
| | $ | 17,236 |
| Interest cost on projected benefit obligations | 4,242 |
| | 4,374 |
| | 4,428 |
| | 8,630 |
| | 8,511 |
| | 10,664 |
| | 66 |
| | 70 |
| | 76 |
| | 12,938 |
| | 12,955 |
| | 15,168 |
| Expected return on plan assets | (6,929 | ) | | (6,737 | ) | | (7,781 | ) | | (31,005 | ) | | (30,349 | ) | | (33,168 | ) | | — |
| | — |
| | — |
| | (37,934 | ) | | (37,086 | ) | | (40,949 | ) | Recognition of actuarial losses/(gains) and prior service costs | 5,804 |
| | 6,556 |
| | 7,606 |
| | 14,575 |
| | 16,247 |
| | 12,923 |
| | (1,623 | ) | | (2,674 | ) | | (4,567 | ) | | 18,756 |
| | 20,129 |
| | 15,962 |
| Settlement charge | — |
| | — |
| | 7,963 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 7,963 |
| Net periodic pension cost / (benefit) | $ | 4,207 |
| | $ | 4,758 |
| | $ | 12,648 |
| | $ | 7,745 |
| | $ | 10,750 |
| | $ | 7,223 |
| | $ | (1,557 | ) | | $ | (2,604 | ) | | $ | (4,491 | ) | | $ | 10,395 |
| | $ | 12,904 |
| | $ | 15,380 |
|
|
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year |
| | | | | | | | | | | | | | | | | | U.S. Pension Benefits | | Non-U.S. Pension Benefits | | Other Benefits | | Total | Plan amendments and prior service costs | $ | — |
| | $ | (6,798 | ) | | $ | — |
| | $ | (6,798 | ) | Actuarial losses (gains) | 2,374 |
| | 21,630 |
| | (691 | ) | | 23,313 |
| Total | $ | 2,374 |
| | $ | 14,832 |
| | $ | (691 | ) | | $ | 16,515 |
|
|
Schedule of Allocation of Plan Assets |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2018 | | December 31, 2017 | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Observable Inputs for Identical Assets (Level 2) | | Unobservable Inputs (Level 3) | | Total | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Observable Inputs for Identical Assets (Level 2) | | Unobservable Inputs (Level 3) | | Total | Asset Category: | | | | | | | |
| | |
| | |
| | |
| | |
| Cash and Cash Equivalents | $ | 111,484 |
| | $ | — |
| | $ | — |
| | $ | 111,484 |
| | $ | 154,751 |
| | $ | — |
| | $ | — |
| | $ | 154,751 |
| Equity Securities: | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Mettler-Toledo Stock | 2,436 |
| | — |
| | — |
| | 2,436 |
| | 3,154 |
| | — |
| | — |
| | 3,154 |
| Equity Mutual Funds: | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| U.S.(1) | 4,989 |
| | 22,569 |
| | — |
| | 27,558 |
| | 6,011 |
| | 27,984 |
| | — |
| | 33,995 |
| International(2) | 68,544 |
| | 45,892 |
| | — |
| | 114,436 |
| | 80,836 |
| | 61,341 |
| | — |
| | 142,177 |
| Emerging Markets(3) | 95,146 |
| | 692 |
| | — |
| | 95,838 |
| | 100,346 |
| | 1,096 |
| | — |
| | 101,442 |
| Fixed Income Securities: | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Corporate/Government Bonds(4) | 71,644 |
| | — |
| | — |
| | 71,644 |
| | 72,334 |
| | — |
| | — |
| | 72,334 |
| Fixed Income Mutual Funds: | | | |
| | |
| | |
| | |
| | |
| | |
| | |
| Insurance Contracts(5) | — |
| | 22,852 |
| | 1,461 |
| | 24,313 |
| | — |
| | 23,421 |
| | 1,514 |
| | 24,935 |
| Core Bond(6) | 95,493 |
| | 54,448 |
| | — |
| | 149,941 |
| | 136,157 |
| | 57,499 |
| | — |
| | 193,656 |
| Real Asset Mutual Funds: | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Real Estate(7) | 83,879 |
| | 13,838 |
| | — |
| | 97,717 |
| | 79,218 |
| | 8,836 |
| | — |
| | 88,054 |
| Commodities(8) | 40,267 |
| | — |
| | — |
| | 40,267 |
| | 37,302 |
| | — |
| | — |
| | 37,302 |
| Other Types of Investments: | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Debt Securities (9) | 38,616 |
| | — |
| | — |
| | 38,616 |
| | — |
| | — |
| | — |
| | — |
| Global Allocation Funds(10) | 11,195 |
| | 10,562 |
| | — |
| | 21,757 |
| | 11,781 |
| | 12,545 |
| | — |
| | 24,326 |
| Insurance Linked Securities(11) | 18,664 |
| | — |
| | — |
| | 18,664 |
| | 12,147 |
| | — |
| | — |
| | 12,147 |
| Total assets in fair value hierarchy | $ | 642,357 |
| | $ | 170,853 |
| | $ | 1,461 |
| | $ | 814,671 |
| | $ | 694,037 |
| | $ | 192,722 |
| | $ | 1,514 |
| | $ | 888,273 |
| Investments measured at net asset value: | | | | | | | | | | | | | | | | International(2) | | | | | | | 2,792 | | | | | | | | — |
| Emerging Markets (3) | | | | | | | 4,889 | | | | | | | | 5,950 | Multi-Strategy Fund of Hedge Funds (12) | | | | | | | 40,599 | | | | | | | | 25,559 | Total pension assets at fair value | | | | | | | $ | 862,951 |
| | | | | | | | $ | 919,782 |
|
|
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation |
| | | | | | | | | | | | | | Commodities | | Insurance Contract | | Total | Balance at December 31, 2016 | $ | 5,594 |
| | $ | 1,300 |
| | $ | 6,894 |
| Actual return on plan assets related to assets held at end of year | — |
| | 21 |
| | 21 |
| Sales | (5,711 | ) | | (98 | ) | | (5,809 | ) | Purchases | — |
| | 108 |
| | 108 |
| Impact of foreign currency | 117 |
| | 183 |
| | 300 |
| Balance at December 31, 2017 | $ | — |
| | $ | 1,514 |
| | $ | 1,514 |
| Actual return on plan assets related to assets held at end of year | — |
| | 14 |
| | 14 |
| Sales | — |
| | (85 | ) | | (85 | ) | Purchases | — |
| | 82 |
| | 82 |
| Impact of foreign currency | — |
| | (64 | ) | | (64 | ) | Balance at December 31, 2018 | $ | — |
| | $ | 1,461 |
| | $ | 1,461 |
|
|
Schedule of Expected Benefit Payments |
| | | | | | | | | | | | | | | | | | U.S. Pension Benefits | | Non-U.S. Pension Benefits | | Other Benefits Net of Subsidy | | Total | 2019 | $ | 8,051 |
| | $ | 43,494 |
| | $ | 431 |
| | $ | 51,976 |
| 2020 | 8,247 |
| | 43,111 |
| | 249 |
| | 51,607 |
| 2021 | 8,396 |
| | 45,220 |
| | 231 |
| | 53,847 |
| 2022 | 8,546 |
| | 43,543 |
| | 207 |
| | 52,296 |
| 2023 | 8,698 |
| | 44,397 |
| | 180 |
| | 53,275 |
| 2024-2028 | 43,532 |
| | 222,671 |
| | 666 |
| | 266,869 |
|
|