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Postretirement Plans (Tables)
 12 Months Ended
Dec. 31, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
Components Of Net Periodic Benefit Cost
The components of net periodic benefit cost were as follows:
 
Pension
 
Other Postretirement Benefits
Years ended December 31,
2016

 
2015

 
2014

 
2016

 
2015

 
2014

Service cost

$604

 

$1,764

 

$1,661

 

$128

 

$140

 

$129

Interest cost
3,050

 
2,990

 
3,058

 
262

 
248

 
289

Expected return on plan assets
(3,999
)
 
(4,031
)
 
(4,169
)
 
(8
)
 
(8
)
 
(8
)
Amortization of prior service costs/(credits)
38

 
196

 
177

 
(126
)
 
(136
)
 
(144
)
Recognized net actuarial loss
790

 
1,577

 
1,020

 
22

 
31

 
8

Settlement/curtailment/other losses
40

 
290

 
461

 


 
10

 
1

Net periodic benefit cost

$523

 

$2,786

 

$2,208

 

$278

 

$285

 

$275

 
 
 
 
 
 
 
 
 
 
 
 
Net periodic benefit cost included in Earnings from operations

$1,979

 

$2,366

 

$3,215

 

$274

 

$288

 

$287
Schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Pensions And OPB
The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2016 and 2015. Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans.
 
Pension
 
Other Postretirement Benefits
 
2016

 
2015

 
2016

 
2015

Change in benefit obligation
 
 
 
 
 
 
 
Beginning balance

$74,388

 

$78,391

 

$7,138

 

$7,306

Service cost
604

 
1,764

 
128

 
140

Interest cost
3,050

 
2,990

 
262

 
248

Plan participants’ contributions
1

 
5

 

 

Amendments
6

 
(1,379
)
 
(57
)
 
(19
)
Actuarial (gain)/loss
2,669

 
(3,505
)
 
(612
)
 
(89
)
Settlement/curtailment/other
(63
)
 
(457
)
 

 
10

Gross benefits paid
(3,903
)
 
(3,382
)
 
(469
)
 
(486
)
Subsidies
 
 
 
 
37

 
43

Exchange rate adjustment
(7
)
 
(39
)
 
4

 
(15
)
Ending balance

$76,745

 

$74,388

 

$6,431

 

$7,138

Change in plan assets
 
 
 
 
 
 
 
Beginning balance at fair value

$56,514

 

$61,119

 

$132

 

$141

Actual return/(loss) on plan assets
3,885

 
(701
)
 
7

 
1

Company contribution
113

 
59

 
6

 
5

Plan participants’ contributions
1

 
5

 
7

 
5

Settlement payments
(24
)
 
(649
)
 

 

Benefits paid
(3,791
)
 
(3,284
)
 
(18
)
 
(20
)
Exchange rate adjustment
(6
)
 
(35
)
 

 

Ending balance at fair value

$56,692

 

$56,514

 

$134

 

$132

Amounts recognized in statement of financial position at December 31 consist of:
 
 
 
 
 
 
 
Other assets

$3

 

$10

 
 
 
 
Other accrued liabilities
(113
)
 
(101
)
 

($381
)
 

($390
)
Accrued retiree health care

 

 
(5,916
)
 
(6,616
)
Accrued pension plan liability, net
(19,943
)
 
(17,783
)
 
 
 
 
Net amount recognized

($20,053
)
 

($17,874
)
 

($6,297
)
 

($7,006
)
Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss
Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:
 
Pension
 
Other Postretirement Benefits
 
2016

 
2015

 
2016

 
2015

Net actuarial loss

$22,802

 

$20,871

 

$152

 

$781

Prior service (credits)
(1,243
)
 
(1,195
)
 
(328
)
 
(397
)
Total recognized in Accumulated other comprehensive loss

$21,559

 

$19,676

 

($176
)
 

$384
Schedule Of Estimated Amount That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost
The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ending December 31, 2017 is as follows:
 
Pension

 
Other Postretirement Benefits

Recognized net actuarial loss

$801

 

$10

Amortization of prior service (credits)
(41
)
 
(137
)
Total

$760

 

($127
)
Schedule Of Key Information For All Plans With ABO In Excess Of Plan Assets
Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:
 
2016

 
2015

Projected benefit obligation

$76,586

 

$74,188

Accumulated benefit obligation
74,081

 
72,121

Fair value of plan assets
56,530

 
56,306
Schedule Of Assumptions Used To Calculate The Benefit Obligation and Net Periodic Benefit Costs
The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.
December 31,
2016

 
2015

 
2014

Discount rate:
 
 
 
 
 
Pension
4.00
%
 
4.20
%
 
3.90
%
Other postretirement benefits
3.70
%
 
3.80
%
 
3.50
%
Expected return on plan assets
6.80
%
 
7.00
%
 
7.00
%
Rate of compensation increase
4.40
%
 
4.00
%
 
3.80
%
Schedule Of Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates were as follows:
December 31,
2016

 
2015

 
2014

Health care cost trend rate assumed next year
6.50
%
 
6.50
%
 
7.00
%
Ultimate trend rate
5.00
%
 
5.00
%
 
5.00
%
Year that trend reached ultimate rate
2021

 
2021

 
2018
Schedule Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates
A one-percentage-point change in assumed health care cost trend rates would have the following effect:
 
Increase

 
Decrease

Effect on total of service and interest cost

$48

 

($40
)
Effect on postretirement benefit obligation
586

 
(496
)
Schedule of actual allocations for pension assets and target allocations by asset class [Table Text Block]
The actual and target allocations by asset class for the pension assets at December 31 were as follows:
 
Actual Allocations
 
Target Allocations
Asset Class
2016

 
2015

 
2016

 
2015

Fixed income
48
%
 
48
%
 
47
%
 
47
%
Global equity
28

 
28

 
29

 
29

Private equity
5

 
5

 
5

 
5

Real estate and real assets
9

 
9

 
9

 
9

Hedge funds
10

 
10

 
10

 
10

Total
100
%
 
100
%
 
100
%
 
100
%
Schedule of Allocation of Plan Assets
The following table presents our plan assets using the fair value hierarchy as of December 31, 2016 and 2015. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs.
 
December 31, 2016
December 31, 2015
 
Total

Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Fixed income securities:
 
 
 
 
 
 
 
 
Corporate

$16,730



$16,723


$7


$16,339



$16,336


$3

U.S. government and agencies
4,876


4,875

1

4,801


4,800

1

Mortgage backed and asset backed
706


370

336

830


382

448

Municipal
1,398



1,398



1,475

 
1,475


Sovereign
782



782



907

 
907

 
Other
74


$9

65



83


$9

74


Derivatives:
 
 
 
 
 
 
 
 
Assets
40


40


25


25


Liabilities
(38
)

(38
)

(67
)

(67
)

Cash equivalents and other short-term investments
1,037



1,037


1,015



1,015


Equity securities:
 
 
 
 
 
 
 
 
U.S. common and preferred stock
5,374

5,373


1

5,165

5,164


1

Non-U.S. common and preferred stock
5,746

5,746




5,712

5,710



2

Derivatives:
 
 
 
 
 
 
 
 
Assets
6



6


11


11


Liabilities
(8
)


(8
)

(3
)


(3
)

Private equity 
—






3




3

Real estate and real assets:
 
 
 
 
 
 
 
 
Real estate
468

468





447

447





Real assets
672

372

295

5

632

351

275

6

Derivatives:
 
 
 
 
 
 
 
 
Assets
4


4



3



3



Liabilities
(1
)

(1
)


(2
)


(2
)


Total

$37,866


$11,968


$25,548


$350


$37,376


$11,681


$25,231


$464

 
 
 
 
 
 
 
 
 
Fixed income common/collective/pooled funds

$1,625

 
 
 

$1,753

 
 
 
Fixed income other
227

 
 
 
247

 
 
 
Equity common/collective pooled funds
4,962

 
 
 
4,948

 
 
 
Private equity
2,639

 
 
 
2,611

 
 
 
Real estate and real assets
3,625

 
 
 
3,637

 
 
 
Hedge funds
5,441

 
 
 
5,478

 
 
 
Total investments measured at NAV as a practical expedient

$18,519

 
 
 

$18,674

 
 
 
 
 
 
 
 
 
 
 
 
Cash

$160

 
 
 

$162

 
 
 
Receivables
374

 
 
 
435

 
 
 
Payables
(227
)
 
 
 
(133
)
 
 
 
Total

$56,692

 
 
 

$56,514

 
 
 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
 
January 1
2015 Balance

 
Net Realized and Unrealized (Losses)

 
Net Purchases, Issuances and Settlements

 
Net Transfers Into Level 3

 
December 31
2015 Balance

Fixed income securities:
 
 
 
 
 
 
 
 
 
Corporate (2)

$1

 


 

$1

 

$1

 

$3

U.S. government and agencies (2)

1

 
 
 
 
 
 
 

$1

Mortgage backed and asset backed (2)
611

 

($9
)
 
(157
)
 
3

 
448

Other
 
 
(3
)
 
3

 
 
 
—

Equity securities:
 
 
 
 
 
 
 
 
 
U.S. common and preferred stock
 
 
 
 
 
 
1

 
1

Non-U.S. common and preferred stock
1

 
 
 
(2
)
 
3

 
2

Private equity
3

 


 


 
 
 
3

Real assets
4

 


 
2

 
 
 
6

Total

$621

 

($12
)
 

($153
)
 

$8

 

$464

The following tables present a reconciliation of Level 3 assets (excluding investments which are valued using NAVs as a practical expedient) held during the years ended December 31, 2016 and 2015. Transfers into and out of Level 3 are reported at the beginning-of-year values.
 
January 1
2016 Balance

 
Net Realized and Unrealized Gains/(Losses)

 
Net Purchases, Issuances and Settlements

 
Net Transfers (Out of) Level 3

 
December 31
2016 Balance

Fixed income securities:
 
 
 
 
 
 
 
 
 
Corporate (1)

$11

 
 
 

($1
)
 

($3
)
 

$7

U.S. government and agencies
1

 


 


 


 
1

Mortgage backed and asset
backed (1)
440

 

$7

 
(93
)
 
(18
)
 
336

Equity securities:
 
 
 
 
 
 
 
 


U.S. common and preferred stock
1

 


 


 


 
1

Non-U.S. common and preferred stock
2

 


 
(2
)
 


 
—

Private equity
3

 
(3
)
 


 


 
—

Real assets
6

 


 
(1
)
 


 
5

Total

$464

 

$4

 

($97
)
 

($21
)
 

$350
Schedule Of Estimated Future Benefit Payments
The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.
Year(s)
2017

 
2018

 
2019

 
2020

 
2021

 
2022-2026

Pensions

$4,558

 

$4,622

 

$4,611

 

$4,662

 

$4,637

 

$23,108

Other postretirement benefits:
 
 
 
 
 
 
 
 
 
 
 
Gross benefits paid
498

 
515

 
530

 
548

 
553

 
2,654

Subsidies
(32
)
 
(31
)
 
(31
)
 
(31
)
 
(30
)
 
(143
)
Net other postretirement benefits

$466

 

$484

 

$499

 

$517

 

$523

 

$2,511