Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015 and 2014: 

	Pension Benefits						Postretirement Benefits
	2015			2014			2015			2014
Change in Benefit Obligation:
Benefit obligation at beginning of period	$	612,688		$	558,650		$	77,355		$	76,134
Service cost	25,607			22,205			2,505			2,454
Interest cost	25,203			26,817			2,925			3,338
Actuarial loss (gain)	21,731			56,333			(2,165		)	(102		)
Benefits paid from plan assets	(48,471		)	(47,420		)	—			—
Benefits paid from Company assets	(1,537		)	(1,392		)	(6,131		)	(6,057		)
Plan participants' contributions	—			—			1,448			1,588
Administrative expenses paid	(1,153		)	(1,032		)	—			—
Settlements(1)	—			(1,473		)	—			—
Benefit Obligation at End of Period	634,068			612,688			75,937			77,355
Change in Plan Assets:
Fair value of plan assets at beginning of period	470,165			423,167			—			—
Actual return on plan assets	(13,283		)	55,450			—			—
Employer contributions(2)	41,537			42,865			4,683			4,469
Plan participants' contributions	—			—			1,448			1,588
Benefits paid(2)	(50,008		)	(48,812		)	(6,131		)	(6,057		)
Administrative expenses paid	(1,153		)	(1,032		)	—			—
Settlements(1)(2)	—			(1,473		)	—			—
Fair Value of Plan Assets at End of Period	447,258			470,165			—			—
Unfunded Status	$	186,810		$	142,523		$	75,937		$	77,355

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

⁽²⁾ Includes $1,537 and $2,865 paid from our assets for unfunded nonqualified benefits in fiscal years 2015 and 2014, 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
	2015		2014		2015		2014
Current accrued benefit cost	$	1,599	$	1,542	$	5,634	$	7,790
Non-current accrued benefit cost	185,211		140,981		70,303		69,565
Net amount recognized	$	186,810	$	142,523	$	75,937	$	77,355

Schedule of Amounts Recognized in Accumulated Other Comprehensive 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
	2015		2014		2015			2014
Net actuarial loss	$	170,180	$	143,734	$	10,983		$	12,944
Prior service cost (gain)	716		992		(3,860		)	(5,193		)
Accumulated other comprehensive loss	$	170,896	$	144,726	$	7,123		$	7,751

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 2016, net of tax, consist of the following: 

	Pension Benefits		Postretirement Benefits
Net actuarial loss	$	12,088	$	481
Prior service cost (gain)	259		(1,333		)
Accumulated other comprehensive loss (income)	$	12,347	$	(852	)

Schedule of Assumptions Used

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
	2015		2014		2015	2014
Discount rate	4.48	%	4.08	%	4.09%	3.77%
Rate of compensation increase	4.44	%	4.47	%	—	—
Health care cost trend on covered charges	—		—		6.5% / 5%	7.5% / 5%

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

	Pension Benefits						Postretirement Benefits
	2015		2014		2013		2015	2014	2013
Discount rate	4.08	%	4.87	%	3.95	%	3.77%	4.34%	3.51%
Expected return on plan assets	6.25	%	6.25	%	6.00	%	—	—	—
Rate of compensation increase	4.47	%	4.25	%	4.25	%	—	—	—
Health care cost trend on covered charges	—		—		—		7% / 5%	7.5% / 5%	8% / 5%

Schedule of Net Periodic Benefit Costs

The net periodic benefit cost for the years ended December 31, 2015, 2014, and 2013 included the following components: 

	Pension Benefits									Postretirement Benefits
	2015			2014			2013			2015			2014			2013
Service cost	$	25,607		$	22,205		$	24,119		$	2,505		$	2,454		$	2,644
Interest cost	25,203			26,817			23,914			2,925			3,338			2,873
Expected return on plan assets	(28,297		)	(26,624		)	(23,909		)	—			—			—
Amortization of:
Net actuarial loss	20,028			17,639			26,371			1,044			1,267			1,794
Prior service cost (gain)	452			952			1,375			(2,181		)	(2,181		)	(2,181		)
Settlement loss	—			789			—			—			—			—
Net periodic benefit cost	$	42,993		$	41,778		$	51,870		$	4,293		$	4,878		$	5,130

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
2016	$	42,785	$	5,748
2017	41,056		6,240
2018	42,078		6,552
2019	44,673		6,729
2020	46,845		6,909
After 2020	245,255		34,598

Schedule of Allocation of Plan Assets

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, 2015 and 2014: 

December 31, 2015
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	$	18,908	$	—	$	—	$	18,908
Mutual funds	24,652		9,206		—		33,858
Equity securities - International
Corporate stocks	1,410		—		—		1,410
Mutual funds	46,594		—		—		46,594
Fixed income investments - U.S.
Corporate debt	131,109		—		—		131,109
U.S. government debt	42,720		—		—		42,720
Mutual funds	22,393		70,949		—		93,342
Fixed income investments - International	26,044		—		—		26,044
Absolute return	—		—		32,383		32,383
Real assets	—		—		13,622		13,622
Private equity	—		—		2,704		2,704
Short-term investments	—		4,564		—		4,564
Total	$	313,830	$	84,719	$	48,709	$	447,258

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

Asset allocation information for the defined benefit pension plan at December 31, 2015 and 2014 is as follows: 

Investment	2015 Actual Allocation		2015 Target Allocation Range	2014 Actual Allocation		2014 Target Allocation Range
Equity securities-U.S.	12	%	3-15%	9	%	3-15%
Equity securities-International	11	%	3-15%	9	%	3-15%
Fixed income investments-U.S.	59	%	35-75%	61	%	35-75%
Fixed income investments-International	6	%	3-10%	6	%	3-10%
Absolute return	7	%	5-15%	7	%	5-15%
Real assets	3	%	3-10%	5	%	3-10%
Private equity	1	%	0-3%	1	%	0-3%
Short-term investments	1	%	0-3%	2	%	0-3%
Total	100	%	100%	100	%	100%

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, 2015 and 2014:

December 31, 2015
	Absolute Return			Real Assets			Private Equity			Total
Balance, beginning of year	$	33,021		$	16,518		$	3,682		$	53,221
Realized gains	108			763			174			1,045
Unrealized gains (losses)	4			1,607			(92		)	1,519
Purchases	272			—			188			460
Sales	(1,022		)	(5,266		)	(1,248		)	(7,536		)
Balance, end of year	$	32,383		$	13,622		$	2,704		$	48,709

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