Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

A summary of the status of our outstanding stock options is presented in the tables below:


	Shares			Weighted Average Exercise Price
Outstanding at December 31, 2011		4,792,409		$	8.95
Exercised		(1,930,092	)		10.31
Forfeited		(33,381	)		10.73
Expired		(17,997	)		14.36

Outstanding at December 31, 2012		2,810,939		$	7.93
Exercised		(1,620,515	)		3.45
Forfeited		(2,009	)		13.85
Expired		(39,666	)		23.08

Outstanding at December 31, 2013		1,148,749		$	13.60
Exercised		(458,505	)		13.81
Expired		(11,906	)		33.03

Outstanding at December 31, 2014		678,338		$	13.21

Vested and expected to vest at December 31, 2014		678,338		$	13.21

Exercisable at December 31, 2014		678,338		$	13.21

Schedule of Options Outstanding, Weighted Average Exercise Price and Intrinsic Value

Options outstanding at December 31, 2014 and their related weighted average exercise price, intrinsic value and life information is presented below:


	Outstanding Options								Exercisable Options
Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Aggregate Intrinsic Value		Number Exercisable		Weighted Average Exercise Price		Aggregate Intrinsic Value
$8.09 – $8.44		63,272		1.5	$	8.32				63,272	$	8.32
$11.45 – $16.48		584,074		0.9		13.16				584,074		13.16
$22.00 – $26.50		30,992		1.9		24.19				30,992		24.19

		678,338		1.0	$	13.21	$	14,270,326		678,338	$	13.21	$	14,270,326

Schedule of Non-Vested Stock Awards

A summary of the status of our non-vested stock awards is presented in the table below:


	Shares / Units			Weighted Average Market Value Per Share
Balance at December 31, 2011		9,886,207		$	15.18
Granted		2,353,487			20.31
Vested		(3,677,691	)		13.18
Forfeited		(588,514	)		14.55

Balance at December 31, 2012		7,973,489		$	17.65
Granted		2,669,410			22.94
Vested		(2,923,485	)		14.48
Forfeited		(177,905	)		18.15

Balance at December 31, 2013		7,541,509		$	20.76
Granted		2,118,637			30.78
Vested		(1,976,587	)		19.02
Forfeited		(141,463	)		20.15

Balance at December 31, 2014		7,542,096		$	22.53

Schedule of Defined Benefit Pension Plans

The following table sets forth a reconciliation of the benefit obligation, plan assets, plan’s funded status and amounts recognized in the accompanying consolidated balance sheets for both of our defined benefit pension plans (dollars in thousands):


	Year Ended December 31,
	2014			2013
Change in benefit obligation
Benefit obligation at beginning of period	$	400,215		$	352,242
Interest cost		17,649			15,414
Actuarial loss		39,076			31,420
Benefits paid		(8,860	)		(8,374	)
Foreign currency translation		(26,836	)		9,513

Benefit obligation at end of period	$	421,244		$	400,215

Change in plan assets
Fair value of plan asset at beginning of period	$	332,203		$	288,714
Actuarial return on plan assets		19,317			38,328
Company contributions		6,621			5,508
Benefits paid		(8,860	)		(8,374	)
Foreign currency translation		(20,960	)		8,027

Fair value of plan assets at end of period	$	328,321		$	332,203

Funded status	$	(92,923	)	$	(68,012	)

Amounts recognized in the statement of financial position consist of:
Non-current liabilities	$	(92,923	)	$	(68,012	)

Schedule of Net Periodic (Benefit) Cost Not Yet Recognized

Items not yet recognized as a component of net periodic pension (benefit) cost were as follows (dollars in thousands):


	Year Ended December 31,
	2014		2013
Unamortized actuarial loss	$	141,912	$	103,968

Accumulated other comprehensive loss	$	141,912	$	103,968

Schedule of Net Periodic Pension (Benefit) Costs

Components of net periodic pension (benefit) cost and other amounts recognized in other comprehensive loss consisted of the following (dollars in thousands):


	Year Ended December 31,
	2014			2013			2012
Net Periodic Pension (Benefit) Cost
Interest cost	$	17,649		$	15,414		$	15,513
Expected return on plan assets		(22,982	)		(16,095	)		(14,563	)
Amortization of unrecognized net loss		2,637			2,455			2,344

Net periodic pension (benefit) cost	$	(2,696	)	$	1,774		$	3,294

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss
Net actuarial loss	$	37,944		$	7,047		$	2,079


Total recognized in other comprehensive loss		37,944			7,047			2,079

Total recognized in net periodic pension (benefit) cost and other comprehensive loss	$	35,248		$	8,821		$	5,373

Schedule of Changes in Projected Benefit Obligations

Weighted average assumptions used to determine our projected benefit obligation were as follows:


	Year Ended December 31,
	2014			2013
Discount rate		3.64	%		4.47	%
Expected return on plan assets		5.83	%		7.05	%

Schedule of Changes in Net Periodic (Benefit) Cost

Weighted average assumptions used to determine our net periodic pension (benefit) cost were as follows:


	Year Ended December 31,
	2014			2013			2012
Discount rate		3.70	%		4.44	%		4.60	%
Expected return on plan assets		6.20	%		6.65	%		5.91	%

Schedule of Allocation of Plan Assets

Our pension plan weighted average asset allocations by asset category were as follows:


	Target Allocation 2014			Plan Assets at December 31,
Asset Category	Target Allocation 2014			2014			2013
Equity securities		55.5	%		57.2	%		57.2	%
Absolute return strategy fund		28.4	%		28.2	%		28.1	%
Debt securities		8.0	%		7.1	%		7.0	%
Other		8.1	%		7.5	%		7.7	%

Total					100.0	%		100.0	%

Schedule of Fair Value of Pension Assets

The fair value of our pension assets are comprised of the following (dollars in thousands):


			Fair Value Measured and Recorded Using:
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
As of December 31, 2014
Asset Category
Cash	$	1,274	$	1,274	$	—	$	—
Equity securities (a)		187,637		27,886		159,751		—
Fixed income securities (a)		23,397		—		23,397		—
Absolute return strategy fund (b)		92,550		—		92,550		—
Other (c)		23,463		—		21,538		1,925

Total	$	328,321	$	29,160	$	297,236	$	1,925

As of December 31, 2013
Asset Category
Cash	$	6,385	$	6,385	$	—	$	—
Equity securities (a)		189,852		29,153		160,699		—
Fixed income securities (a)		23,273		—		23,273		—
Absolute return strategy fund (b)		93,343		—		93,343		—
Other (c)		19,350		—		16,256		3,094

Total	$	332,203	$	35,538	$	293,571	$	3,094

(a)	The assets in this category represent investments in foreign equity and bond funds. Generally, these assets are valued using bid-market valuations provided by the funds’ investment managers.

(b)

The assets in this category represent investments in an absolute return strategies fund. Generally, these assets are valued at the net asset value as determined by the custodian of the fund. The net asset value is based on the underlying investments, which are valued using inputs such as quoted market prices of identical instruments, discounted future cash flows, independent appraisals, and market-based comparable data. As such, the assets in this category have been categorized as Level 2 in the fair value hierarchy.

(c)

The assets in this category include investments in a liability driven investment fund and investments in commercial real estate. The liability driven investment fund is a single priced fund and the fair value of the underlying assets are priced by the fund’s custodian based on observable market data and therefore categorized as Level 2 in the fair value hierarchy. The investments in commercial real estate primarily represent a property unit trust that invests in commercial real estate properties in the U.K. The fair values for these investments are based on inputs obtained from broker quotes that are indicative of value and cannot be corroborated by observable market data and therefore are categorized as Level 3 in the fair value hierarchy.

Schedule of Pension Assets Measured and Recorded Significant Unobservable Inputs

A summary of our pension assets measured and recorded using significant unobservable inputs is as follows (dollars in thousands):


	Real Estate Funds
Ending balance at December 31, 2012	$	10,250
Actuarial return on plan assets		268
Actuarial loss on plan assets sold		(105	)
Sales		(7,381	)
Foreign currency translation		62

Ending balance at December 31, 2013	$	3,094
Actuarial return on plan assets		227
Actuarial loss on plan assets sold		(30	)
Sales		(1,243	)
Foreign currency translation		(123	)

Ending balance at December 31, 2014	$	1,925

Schedule of Expected Benefit Payments

The following is a schedule by year of benefit payments, which reflect expected future service, as appropriate, that are expected to be paid (dollars in thousands):


2015	$	9,034
2016		9,190
2017		9,813
2018		10,436
2019		12,150
2020-2024		71,184

Total	$	121,807