Pensions and Postretirement Benefits Other than Pensions (Tables)

12 Months Ended

Dec. 31, 2012

Defined Benefit Pension and Other Postretirement Benefits Plans

The following table reflects changes in the projected obligations and fair market values of assets in all defined benefit pension and other postretirement benefit plans of the Company:

	2011									2012
	Pension Benefits									Pension Benefits									Other Postretirement Benefits
	Domestic			International			Total			Domestic			International			Total			2011			2012
Change in benefit obligation:
Projected Benefit Obligation at January 1	$	865,982		$	320,618		$	1,186,600		$	924,544		$	343,219		$	1,267,763		$	275,348		$	311,069
Service cost - employer		7,700			2,497			10,197			9,415			725			10,140			3,103			4,161
Service cost - employee		—			2,308			2,308			—			533			533			—			—
Interest cost		45,260			18,009			63,269			43,005			17,106			60,111			13,846			12,532
Plan curtailment		—			—			—			—			(9,933	)		(9,933	)		—			—
Actuarial (gain)/loss		54,022			13,846			67,868			137,141			20,331			157,472			27,928			(10,945	)
Benefits paid		(48,420	)		(12,506	)		(60,926	)		(50,035	)		(12,700	)		(62,735	)		(9,156	)		(8,591	)
Foreign currency translation effect		—			(1,553	)		(1,553	)		—			15,644			15,644			—			—
Projected Benefit Obligation at December 31	$	924,544		$	343,219		$	1,267,763		$	1,064,070		$	374,925		$	1,438,995		$	311,069		$	308,226
Change in plans’ assets:
Fair value of plans’ assets at January 1	$	698,827		$	229,496		$	928,323		$	680,217		$	226,914		$	907,131		$	—		$	—
Actual return on plans’ assets		3,375			30			3,405			80,339			25,960			106,299			—			—
Employer contribution		26,435			8,420			34,855			35,350			8,215			43,565			—			—
Employee contribution		—			2,308			2,308			—			533			533			—			—
Benefits paid		(48,420	)		(12,506	)		(60,926	)		(50,035	)		(12,700	)		(62,735	)		—			—
Foreign currency translation effect		—			(834	)		(834	)		—			10,781			10,781			—			—
Fair value of plans’ assets at December 31	$	680,217		$	226,914		$	907,131		$	745,871		$	259,703		$	1,005,574		$	—		$	—
Funded status	$	(244,327	)	$	(116,305	)	$	(360,632	)	$	(318,199	)	$	(115,222	)	$	(433,421	)	$	(311,069	)	$	(308,226	)
Amounts recognized in the balance sheets:
Other assets	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Accrued liabilities		—			—			—			(500	)		—			(500	)		(17,802	)		(16,680	)
Postretirement benefits other than pensions		—			—			—			—			—			—			(293,267	)		(291,546	)
Pension benefits		(244,327	)		(116,305	)		(360,632	)		(317,699	)		(115,222	)		(432,921	)

Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted average assumptions used to determine benefit obligations at December 31:

							Other
	Pension Benefits						Postretirement Benefits
	2011			2012			2011			2012
All plans
Discount rate		4.81	%		3.92	%		4.15	%		3.60	%
Rate of compensation increase		0.81	%		0.75	%		—			—
Domestic plans
Discount rate		4.80	%		3.75	%		4.15	%		3.60	%
Foreign plans
Discount rate		4.85	%		4.39	%		—			—
Rate of compensation increase		2.99	%		2.89	%		—			—

Benefit Pension and Other Postretirement Benefit Cost

At December 31, 2012, the weighted average assumed annual rate of increase in the cost of medical benefits was 7.80 percent for 2013 trending linearly to 5.00 percent per annum in 2020.

	Pension Benefits - Domestic									Pension Benefits - International
	2010			2011			2012			2010			2011			2012
Components of net periodic benefit cost:
Service cost	$	4,316		$	7,700		$	9,415		$	2,327		$	2,497		$	725
Interest cost		45,653			45,260			43,005			16,923			18,009			17,106
Expected return on plan assets		(50,457	)		(50,206	)		(43,269	)		(15,249	)		(16,646	)		(15,323	)
Amortization of prior service cost		—			—			—			(600	)		(747	)		(185	)
Amortization of actuarial loss		27,741			30,300			36,818			5,924			5,772			6,818
Cooper Avon curtailment gain		—			—			—			—			—			(7,460	)
Recognized actuarial loss (gain)		4,323			—			—			(673	)		—			—
Net periodic benefit cost	$	31,576		$	33,054		$	45,969		$	8,652		$	8,885		$	1,681

	Other Post Retirement Benefits
	2010			2011			2012
Components of net periodic benefit cost:
Service cost	$	3,160		$	3,103		$	4,161
Interest cost		14,115			13,846			12,532
Amortization of prior service cost		(542	)		(688	)		(688	)
Amortization of actuarial loss		—			1,261			3,076
Net periodic benefit cost	$	16,733		$	17,522		$	19,081

Weighted Average Assumptions Used to Determine Benefit Obligations

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

	Pension Benefits									Other Postretirement Benefits
	2010			2011			2012			2010			2011			2012
All plans
Discount rate		5.74	%		5.39	%		4.83	%		5.75	%		5.20	%		4.15	%
Expected return on plan assets		8.24	%		7.58	%		6.86	%		—			—			—
Rate of compensation increase		1.03	%		0.92	%		0.86	%		—			—			—
Domestic plans
Discount rate		5.75	%		5.35	%		4.80	%		5.75	%		5.20	%		4.15	%
Expected return on plan assets		8.50	%		7.75	%		7.00	%		—			—			—
Foreign plans
Discount rate		5.70	%		5.50	%		4.92	%		—			—			—
Expected return on plan assets		7.44	%		7.05	%		6.43	%		—			—			—
Rate of compensation increase		3.74	%		3.39	%		3.17	%		—			—			—

Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Pension Plans

The following table lists the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets at December 31, 2011 and 2012:

	2011				2012
	Projected benefit obligation exceeds plan assets		Accumulated benefit obligation exceeds plan assets		Projected benefit obligation exceeds plan assets		Accumulated benefit obligation exceeds plan assets
Projected benefit obligation	$	1,267,763	$	1,267,763	$	1,438,995	$	1,438,995
Accumulated benefit obligation		1,264,377		1,264,377		1,435,193		1,435,193
Fair value of plan assets		907,131		907,131		1,005,574		1,005,574

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 effects:

	Percentage Point
	Increase		Decrease
Increase (decrease) in total service and interest cost components	$	202	$	(172	)
Increase (decrease) in the postretirement benefit obligation		4,963		(4,169	)

Weighted Average Asset Allocations for Domestic and U.K. Pension Plans' Assets

The Company’s weighted average asset allocations for its domestic and U.K. pension plans’ assets at December 31, 2011 and December 31, 2012 by asset category were as follows:

	U.S. Plans						U.K. Plan
Asset Category	2011			2012			2011			2012
Equity securities		61	%		58	%		56	%		59	%
Debt securities		37			40			29			28
Other investments		0			0			14			12
Cash		2			2			1			1
Total		100	%		100	%		100	%		100	%

Assets of U.S and U.K Plans Using Fair Value Hierarchy

The table below classifies the assets of the U.S. and U.K. plans using the Fair Value Hierarchy described in Note 10 – Fair Value of Financial Instruments:

			Fair Value Heirarchy
	Total		Level 1		Level 2		Level 3
December 31, 2011
United States plans
Cash & Cash Equivalents	$	16,106	$	16,106	$	—	$	—
Equity securities		412,809		168,240		244,569		—
Fixed income securities		251,302		83,274		168,028		—
	$	680,217	$	267,620	$	412,597	$	—
United Kingdom plan
Cash & Cash Equivalents	$	796	$	796	$	—	$	—
Equity securities		126,126		126,126		—		—
Fixed income securities		66,491		66,491		—		—
Other investments		31,213		18,379		—		12,834
	$	224,626	$	211,792	$	—	$	12,834
December 31, 2012
United States plans
Cash & Cash Equivalents	$	18,487	$	18,487	$	—	$	—
Equity securities		431,383		147,397		283,986		—
Fixed income securities		296,001		97,974		198,027		—
	$	745,871	$	263,858	$	482,013	$	—
United Kingdom plan
Cash & Cash Equivalents	$	2,231	$	2,231	$	—	$	—
Equity securities		152,434		152,434		—		—
Fixed income securities		72,251		72,251		—		—
Other investments		30,482		16,660		—		13,822
	$	257,398	$	243,576	$	—	$	13,822

Details of Activity in Investment in European Infrastructure Fund

The following table details the activity in this investment for the year ended December 31, 2011 and 2012:

	2011			2012
Balance at January 1	$	10,814		$	12,834
Contributions		1,668			175
Disbursements		(150	)		(175	)
Change in fair value		538			473
Foreign currency translation effect		(36	)		515
Balance at December 31	$	12,834		$	13,822

Estimated Benefit Payments for Domestic and Foreign Pension Plans and Other Postretirement Benefit Plans

The Company estimates its benefit payments for its domestic and foreign pension plans and other postretirement benefit plans during the next ten years to be as follows:

	Pension Benefits		Other Postretirement Benefits
2013	$	75,000	$	17,000
2014		72,000		17,000
2015		75,000		18,000
2016		75,000		18,000
2017		77,000		18,000
2018 through 2022		412,000		94,000