Pension And Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2012

Compensation and Retirement Disclosure [Abstract]

Summary Of Benefit Obligations, Fair Value Of Plan Assets And Funded Status

A summary of benefit obligations, fair value of plan assets and funded status is as follows:



	Pension Benefits						Postretirement Benefits
(in thousands) December 31,	2012			2011			2012			2011
Change in benefit obligation:
Beginning of year	$	786,592		$	674,136		$	12,562		$	13,108
Service cost	13,503			11,710			107			121
Interest cost	37,653			38,163			497			588
Plan participants’ contributions	1,324			1,389			—			—
Amendments	3			177			—			—
Actuarial loss	104,539			96,558			670			129
Settlement	(466		)	(123		)	—			—
Benefits paid	(35,561		)	(31,911		)	(1,226		)	(1,374		)
Foreign currency exchange impact	15,513			(2,777		)	10			(10		)
Acquisition/divestitures/curtailment	(16,223		)	—			—			—
Adjustment for expenses/tax contained in service cost	(613		)	(730		)
Benefit obligation at end of year	$	906,264		$	786,592		$	12,620		$	12,562
Change in plan assets:
Fair value of plan assets at beginning of year	$	678,250		$	661,319
Actual return on plan assets	73,981			3,192
Foreign currency exchange impact	14,877			(2,059		)
Employer contributions	4,278			47,495
Administrative expenses paid	(1,103		)	(1,056		)
Plan participants’ contributions	1,324			1,389
Settlement	(466		)	(119		)
Benefits paid	(35,561		)	(31,911		)
Fair value of plan assets at end of year	$	735,580		$	678,250		$	—		$	—
Funded status	$	(170,684	)	$	(108,342	)	$	(12,620	)	$	(12,562	)

Schedule Of Amounts Recognized In Consolidated Balance Sheets

Amounts recognized in the Consolidated Balance Sheets consist of:



	Pension Benefits						Postretirement Benefits
(in thousands) December 31,	2012			2011			2012			2011
Other assets	$	52,304		$	59,891		$	—		$	—
Current liabilities	(817		)	(1,169		)	(1,188		)	(1,248		)
Accrued pension and postretirement benefits	(222,171		)	(167,068		)	(11,432		)	(11,314		)
	$	(170,684	)	$	(108,346	)	$	(12,620	)	$	(12,562	)

Schedule Of Amounts Recognized In Accumulated Other Comprehensive (Income) Loss

Amounts recognized in accumulated other comprehensive loss (income) consist of:



	Pension Benefits						Postretirement Benefits
(in thousands) December 31,	2012			2011			2012			2011
Net actuarial loss (gain)	$	290,417		$	239,624		$	(707	)	$	(1,518	)
Prior service cost (credit)	141			1,036			(1,127		)	(1,362		)
Transition asset	(2		)	(3		)	—			—
	$	289,556		$	240,657		$	(1,834	)	$	(2,880	)

Schedule Of Accumulated And Projected Benefit Obligations

The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the U.S. and Non-U.S. plans, are as follows:



	Pension Obligations/Assets
	U.S.				Non-U.S.				Total
(in millions) December 31,	2012		2011		2012		2011		2012		2011
Projected benefit obligation	$	506.5	$	455.1	$	399.8	$	331.5	$	906.3	$	786.6
Accumulated benefit obligation	506.3		439.6		370.0		303.9		876.3		743.5
Fair value of plan assets	357.9		336.4		377.7		341.9		735.6		678.3

Schedule Of Information For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets

Information for pension plans with an accumulated benefit obligation in excess of plan assets is as follows:



	Pension Benefits
(in thousands) December 31,	2012		2011
Projected benefit obligation	$	705,007	$	616,411
Accumulated benefit obligation	683,019		580,977
Fair value of plan assets	482,019		448,205

Components Of Net Periodic Cost

Components of Net Periodic Benefit Cost are as follows:



	Pension Benefits									Postretirement Benefits
(in thousands) December 31,	2012			2011			2010			2012			2011			2010
Net Periodic Benefit Cost:
Service cost	$	13,503		$	11,710		$	11,417		$	108		$	121		$	114
Interest cost	37,653			38,163			36,301			498			588			745
Expected return on plan assets	(51,437		)	(50,620		)	(43,793		)	—			—			—
Amortization of prior service cost	402			421			451			(236		)	(236		)	—
Amortization of net loss (gain)	19,403			6,733			6,985			(139		)	(110		)	(175		)
Recognized curtailment loss	460			—			—			—			—			—
Settlement costs	(125		)	—			2,614			—			—			—
Special termination benefits	—			—			52			—			—			—
Net periodic benefit cost	$	19,859		$	6,407		$	14,027		$	231		$	363		$	684

Schedule Of Weighted Average Assumptions Used To Determine Benefit Obligation And Net Periodic Benefit Cost

The weighted average assumptions used to determine benefit obligations are as follows:



	Pension Benefits						Postretirement Benefits
December 31,	2012		2011		2010		2012		2011		2010
U.S. Plans:
Discount rate	4.20	%	5.00	%	5.80	%	3.20	%	4.25	%	4.75	%
Rate of compensation increase	3.50	%	3.50	%	3.50	%
Non-U.S. Plans:
Discount rate	3.93	%	4.56	%	5.40	%
Rate of compensation increase	3.14	%	3.89	%	3.74	%

The weighted-average assumptions used to determine net periodic benefit cost are as follows:



	Pension Benefits						Postretirement Benefits
December 31,	2012		2011		2010		2012		2011		2010
U.S. Plans:
Discount rate	5.00	%	5.80	%	6.10	%	4.25	%	4.25	%	5.30	%
Expected rate of return on plan assets	8.25	%	8.25	%	8.25	%
Rate of compensation increase	3.50	%	3.50	%	3.65	%
Non-U.S. Plans:
Discount rate	4.56	%	5.40	%	5.76	%
Expected rate of return on plan assets	7.00	%	7.01	%	7.13	%
Rate of compensation increase	3.89	%	3.74	%	3.72	%

Schedule Of Assumed Health Care Cost Trend

The assumed health care cost trend rates are as follows:



December 31,	2012		2011
Health care cost trend rate assumed for next year	7.50	%	8.00	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.75	%	4.75	%
Year that the rate reaches the ultimate trend rate	2019		2019

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 effects:



(in thousands)	One Percentage Point Increase		One Percentage Point (Decrease)
Effect on total of service and interest cost components	$	37	$	(34	)
Effect on postretirement benefit obligation	$	711	$	(655	)

Schedule Of Pension Plan Target Allocations And Weighted-Average Asset Allocations

The Company’s pension plan target allocations and weighted-average asset allocations by asset category are as follows:



		Actual Allocation
Asset Category December 31,	Target Allocation	2012		2011
Equity securities	35%-75%	49	%	48	%
Fixed income securities	20%-50%	37	%	35	%
Alternative assets/Other	0%-20%	13	%	12	%
Money market	0%-10%	1	%	5	%

Schedule Of Fair Value Of Company Pension Plan Assets

The fair value of the Company’s pension plan assets at December 31, 2012, by asset category are as follows:



(in thousands)	Active Markets for Identical Assets Level 1		Other Observable Inputs Level 2		Unobservable Inputs Level 3		Total Fair Value
Cash and Money Markets	$	8,130	$	—	$	—	$	8,130
Common Stocks
Actively Managed U.S. Equities	105,841		—		—		105,841
Fixed Income Bonds and Notes	—		26,875		—		26,875
Commingled and Mutual Funds
U.S. Equity Funds	—		80,171		—		80,171
Non-U.S. Equity Funds	—		178,841		—		178,841
U.S. Fixed Income, Government and Corporate	—		43,182		—		43,182
U.S. Tactical Allocation Balanced Fund	—		18,997		—		18,997
Non-U.S. Fixed Income, Government and Corporate	—		181,073		—		181,073
International Balanced Funds	—		8,836		—		8,836
Alternative Investments							—
Hedge Funds	—		73,430		—		73,430
International Property Funds	—		9,445		—		9,445
Annuity Contract	—		759		—		759
Total Fair Value	$	113,971	$	621,609	$	—	$	735,580

The fair value of the Company’s pension plan assets at December 31, 2011, by asset category are as follows:



(in thousands)	Active Markets for Identical Assets Level 1		Other Observable Inputs Level 2		Unobservable Inputs Level 3		Total Fair Value
Cash and Money Markets	$	38,084	$	—	$	—	$	38,084
Common Stocks
Actively Managed U.S. Equities	93,869		—		—		93,869
Fixed Income Bonds and Notes	—		25,485		—		25,485
Commingled and Mutual Funds
U.S. Equity Funds	—		26,322		—		26,322
Non-U.S. Equity Funds	—		198,655		—		198,655
U.S. Fixed Income, Government and Corporate	—		33,810		—		33,810
U.S. Tactical Allocation Balanced Fund	—		16,455		—		16,455
Non-U.S. Fixed Income, Government and Corporate	—		159,611		—		159,611
International Balanced Funds	—		8,223		—		8,223
Alternative Investments
Hedge Funds	—		67,967		—		67,967
International Property Funds	—		9,011		—		9,011
Annuity Contract	—		758		—		758
Total Fair Value	$	131,953	$	546,297	$	—	$	678,250

Changes In The Fair Value Of The Pension Plans' Assets

Additional information pertaining to the changes in the fair value of the Pension Plans’ assets classified as Level 3 for the year ended December 31, 2011 is presented below:




Asset Category (dollars in thousands)	Hedge Funds
Balance at January 1, 2011	$	17,169
Total Realized and Unrealized Gains/Losses	(1,498		)
Purchases, Sales, Settlements Transfers in or out of Level 3	(15,671		)
Balance at December 31, 2011	$	—

Summary Of Pension Plan Assets Valued Using Net Asset Value (NAV) Or Its Equivalent

The following table sets forth a summary of pension plan assets valued using Net Asset Value (NAV) or its equivalent as of December 31, 2012:

( dollars in thousands)

Fair
Value*

Redemption
Frequency

Unfunded
Commitment

Other
Redemption
Restrictions

Redemption
Notice Period

Archstone Offshore Fund, Ltd(a)

30,605

12 Months

None

90 days written

Evanston Capital Management(a)

25,587

12 Months

None

65 days written

Strategic Value Fund(b)

17,238

12 Months

None

90 days written

U.S. Equity Funds(c)

80,171

immediate

None

Non-U.S. Equity Funds(d)

178,841

immediate

None

Non-U.S. Fixed Income, Government and Corporate(e)

181,073

immediate

None

International Property Funds(f)

9,445

immediate

None

International Balanced Funds(g)

8,836

immediate

None

U.S. Government and Corporate Fixed Income(h)

43,182

immediate

None

U.S. Tactical Allocation Balanced Fund(i)

18,997

immediate

None

* The fair values of the investments have been estimated using the net asset value of the investment


(a)	These funds are alternative assets which seeks to outperform equities while maintaining a lower risk profile than equities.


(b)	This fund is an alternative investment that invests in distressed debt instruments seeking price appreciation.


(c)	These funds invest in U.S. equity securities and seeks to meet or exceed relative benchmarks.


(d)	These funds invest in equity securities outside the U.S. and seek to meet or exceed relative benchmarks.


(e)	These funds invest in Corporate and Governments fixed income securities outside the U.S. and seek to meet or exceed relative benchmarks.


(f)	These funds invest in real property outside the U.S.


(g)	These funds invest in a pre defined mix of non-U.S. equity and non-U.S. fixed income securities and seek to meet or exceed the performance of a passive/local benchmark of similar mixes.


(h)	These funds invest in U.S. fixed income securities, corporate, government and agency, and seek to outperform the Barclays Capital Aggregate Index.


(i)	These funds invest in a blend of equities, fixed income, cash and property in the U.S. and seek to outperform a similarly weighted index.

The following table sets forth a summary of pension plan assets valued using Net Asset Value (NAV) or its equivalent as of December 31, 2011:

( dollars in thousands)

Fair
Value*

Redemption
Frequency

Unfunded
Commitment

Other
Redemption
Restrictions

Redemption
Notice Period

Archstone Offshore Fund, Ltd(a)

28,241

12 Months

None

90 days written

Evanston Capital Management(a)

24,055

12 Months

None

65 days written

Strategic Value Fund(b)

15,671

12 Months

None

90 days written

U.S. Equity Funds(c)

26,322

immediate

None

Non-U.S. Equity Funds(d)

198,655

immediate

None

Non U.S. Fixed Income, Government and Corporate(e)

159,611

immediate

None

International Property Funds(f)

9,011

immediate

None

International Balanced Funds(g)

8,223

immediate

None

U.S. Government and Corporate Fixed Income(h)

33,810

immediate

None

U.S. Tactical Allocation Balanced Fund(i)

16,455

immediate

None

* The fair values of the investments have been estimated using the net asset value of the investment

Summary Of Estimated Future Benefit Payments

Estimated Future Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:



Estimated future payments (in thousands)	Pension Benefits		Postretirement Benefits
2013	$	36,089	$	1,208
2014	38,174		1,199
2015	39,329		1,204
2016	41,294		1,202
2017	43,085		1,224
2018-2022	243,061		5,494
Total payments	$	441,032	$	11,531