Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Funded Status

The following table sets forth information regarding the funded status of our pension and other postretirement benefits as of December 31, 2014 and 2013: 

	Pension Benefits						Postretirement Benefits
	2014			2013			2014			2013
Change in Benefit Obligation:
Benefit obligation at beginning of period	$	558,650		$	598,917		$	76,134		$	83,836
Service cost	22,205			24,119			2,454			2,644
Interest cost	26,817			23,914			3,338			2,873
Actuarial loss (gain)	56,333			(40,141		)	(102		)	(8,766		)
Benefits paid from plan assets	(47,420		)	(46,522		)	—			—
Benefits paid from Company assets	(1,392		)	(682		)	(6,057		)	(5,855		)
Plan participants' contributions	—			—			1,588			1,402
Administrative expenses paid	(1,032		)	(955		)	—			—
Settlements(1)	(1,473		)	—			—			—
Benefit Obligation at End of Period	612,688			558,650			77,355			76,134
Change in Plan Assets:
Fair value of plan assets at beginning of period	423,167			430,894			—			—
Actual return on plan assets	55,450			(250		)	—			—
Employer contributions(2)	42,865			40,682			4,469			4,453
Plan participants' contributions	—			—			1,588			1,402
Benefits paid(2)	(48,812		)	(47,204		)	(6,057		)	(5,855		)
Administrative expenses paid	(1,032		)	(955		)	—			—
Settlements(1)(2)	(1,473		)	—			—			—
Fair Value of Plan Assets at End of Period	470,165			423,167			—			—
Unfunded Status	$	142,523		$	135,483		$	77,355		$	76,134

⁽¹⁾ We recorded a settlement loss that resulted from lump sum pension distributions.

⁽²⁾ Includes $2,865 and $682 paid from our assets for unfunded nonqualified benefits in fiscal years 2014 and 2013, respectively.

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the consolidated balance sheet for the years ended December 31 consist of the following: 

	Pension Benefits				Postretirement Benefits
	2014		2013		2014		2013
Current accrued benefit cost	$	1,542	$	2,900	$	7,790	$	8,600
Non-current accrued benefit cost	140,981		132,583		69,565		67,534
Net amount recognized	$	142,523	$	135,483	$	77,355	$	76,134

Schedule of Amounts Recognized in Accumulated Other Comprensive Income (Loss)

Amounts recognized in accumulated other comprehensive loss for the years ended December 31, net of tax, consist of the following: 

	Pension Benefits				Postretirement Benefits
	2014		2013		2014			2013
Net actuarial loss	$	143,734	$	138,186	$	12,944		$	13,780
Prior service cost (gain)	992		1,575		(5,193		)	(6,525		)
Accumulated other comprehensive loss	$	144,726	$	139,761	$	7,751		$	7,255

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

Amounts estimated to be amortized from accumulated other comprehensive loss into net periodic benefit costs in 2015, net of tax, consist of the following: 

	Pension Benefits		Postretirement Benefits
Net actuarial loss	$	12,032	$	614
Prior service cost (gain)	276		(1,333		)
Accumulated other comprehensive loss (income)	$	12,308	$	(719	)

Schedule of Assumptions Used

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 were: 

	Pension Benefits						Postretirement Benefits
	2014		2013		2012		2014	2013	2012
Discount rate	4.87	%	3.95	%	4.75	%	4.34%	3.51%	4.25%
Expected return on plan assets	6.25	%	6.00	%	6.25	%	—	—	—
Rate of compensation increase	4.25	%	4.25	%	4.50	%	—	—	—
Health care cost trend on covered charges	—		—		—		7.5% / 5%	8% / 5%	8% / 5%

Weighted-average assumptions used to determine the actuarial present value of the pension and postretirement benefit obligations as of December 31 are: 

	Pension Benefits				Postretirement Benefits
	2014		2013		2014	2013
Discount rate	4.08	%	4.87	%	3.77%	4.34%
Rate of compensation increase	4.47	%	4.25	%	—	—
Health care cost trend on covered charges	—		—		7.5% / 5%	7.5% / 5%

Schedule of Net Periodic Benefit Costs

The net periodic benefit cost for the years ended December 31, 2014, 2013, and 2012 included the following components: 

	Pension Benefits									Postretirement Benefits
	2014			2013			2012			2014			2013			2012
Service cost	$	22,205		$	24,119		$	22,215		$	2,454		$	2,644		$	2,336
Interest cost	26,817			23,914			24,896			3,338			2,873			3,355
Expected return on plan assets	(26,624		)	(23,909		)	(23,670		)	—			—			—
Amortization of:
Net actuarial loss	17,639			26,371			21,116			1,267			1,794			1,719
Prior service cost (gain)	952			1,375			1,380			(2,181		)	(2,181		)	(2,181		)
Settlement loss	789			—			—			—			—			—
Net periodic benefit cost	$	41,778		$	51,870		$	45,937		$	4,878		$	5,130		$	5,229

Schedule of Expected Benefit Payments

Estimated future defined benefit pension and other postretirement benefit plan payments to plan participants for the years ending December 31 are as follows: 

Year	Pension Benefits		Postretirement Benefits
2015	$	41,454	$	7,936
2016	42,052		8,832
2017	39,730		9,772
2018	40,525		10,928
2019	43,292		12,058
After 2019	231,790		81,416

Schedule of Allocation of Plan Assets

Asset allocation information for the defined benefit pension plan at December 31, 2014 and 2013 is as follows: 

Investment	2014 Actual Allocation		2014 Target Allocation Range	2013 Actual Allocation		2013 Target Allocation Range
Equity securities-U.S.	9	%	3-15%	10	%	3-15%
Equity securities-International	9	%	3-15%	9	%	3-15%
Fixed income investments-U.S.	61	%	35-75%	56	%	35-75%
Fixed income investments-International	6	%	3-10%	6	%	3-10%
Absolute return	7	%	5-15%	9	%	5-15%
Real assets	5	%	3-10%	5	%	3-10%
Private equity	1	%	0-3%	1	%	0-3%
Short-term investments	2	%	0-3%	4	%	0-3%
Total	100	%	100%	100	%	100%

The following tables set forth, by level within the fair value hierarchy, the defined benefit pension plan assets measured at fair value as of December 31, 2014 and 2013: 

December 31, 2014
Investment	Quoted Prices in Active Markets for Identical Inputs (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Total
Equity securities - U.S.
Corporate stocks	$	17,092	$	—	$	—	$	17,092
Mutual funds	18,006		8,733		—		26,739
Equity securities - International
Corporate stocks	946		—		—		946
Mutual funds	43,710		—		—		43,710
Fixed income investments - U.S.
Corporate debt	128,033		—		—		128,033
U.S. government debt	52,674		—		—		52,674
Mutual funds	29,799		74,525		—		104,324
Fixed income investments - International	27,784		—		—		27,784
Absolute return	—		—		33,021		33,021
Real assets	—		7,598		16,518		24,116
Private equity	—		—		3,682		3,682
Short-term investments	—		8,044		—		8,044
Total	$	318,044	$	98,900	$	53,221	$	470,165

December 31, 2013
Investment	Quoted Prices in Active Markets for Identical Inputs (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Total
Equity securities - U.S.
Corporate stocks	$	20,176	$	—	$	—	$	20,176
Mutual funds	11,169		11,754		—		22,923
Equity securities - International
Corporate stocks	1,101		—		—		1,101
Mutual funds	38,246		—		—		38,246
Fixed income investments - U.S.
Corporate debt	108,844		—		—		108,844
U.S. government debt	38,870		—		—		38,870
Mutual funds	22,756		63,916		—		86,672
Fixed income investments - International	23,920		—		—		23,920
Absolute return	—		—		39,448		39,448
Real assets	—		8,455		14,737		23,192
Private equity	—		—		3,793		3,793
Short-term investments	—		15,982		—		15,982
Total	$	265,082	$	100,107	$	57,978	$	423,167

Schedule of Changes in Fair Value of Plan Assets

The tables below set forth a summary of changes in the fair value of the defined benefit pension plan's Level 3 assets for the years ended December 31, 2014 and 2013:

December 31, 2014
	Absolute Return			Real Assets			Private Equity			Total
Balance, beginning of year	$	39,448		$	14,737		$	3,793		$	57,978
Realized gains	386			48			76			510
Unrealized gains	1,837			2,065			432			4,334
Purchases	—			48			359			407
Sales	(8,650		)	(380		)	(978		)	(10,008		)
Balance, end of year	$	33,021		$	16,518		$	3,682		$	53,221

December 31, 2013
	Fixed Income Investments – International			Absolute Return			Real Assets			Private Equity			Short-term investments			Total
Balance, beginning of year	$	22,063		$	37,289		$	12,702		$	3,807		$	6,694		$	82,555
Realized gains	5,721			831			16			—			—			6,568
Unrealized gains (losses)	(6,629		)	2,344			2,127			(14		)	—			(2,172		)
Purchases	—			30,900			—			—			—			30,900
Sales	(21,155		)	(31,916		)	(108		)	—			(6,694		)	(59,873		)
Balance, end of year	$	—		$	39,448		$	14,737		$	3,793		$	—		$	57,978