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PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)
12 Months Ended
Dec. 31, 2020
Retirement Benefits, Description [Abstract]  
Schedule of Net Benefit Costs [Table Text Block]
Pension BenefitsPostretirement Benefits
(In thousands)202020192018202020192018
Service cost$26,013 $23,664 $27,116 $506 $432 $490 
Interest cost23,847 29,019 26,149 609 796 719 
Expected return on plan assets(67,217)(59,153)(58,641)— — — 
Amortization of prior service cost(269)(283)(252)(657)(656)(656)
Recognized net actuarial loss/(gain)23,062 9,310 16,867 (5)(198)(131)
Cost of settlements/curtailments2,395 — 337 — — — 
Net periodic benefit cost$7,831 $2,557 $11,576 $453 $374 $422 
ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Pension BenefitsPostretirement Benefits
(In thousands)2020201920202019
Change in benefit obligation:
Beginning of year$945,187 $814,894 $23,566 $22,060 
Service cost26,013 23,664 506 432 
Interest cost23,847 29,019 609 796 
Plan participants’ contributions1,366 1,276 331 346 
Actuarial (gain) loss92,596 118,893 3,048 2,124 
Benefits paid(46,607)(43,736)(2,390)(2,192)
Actual expenses(1,526)(1,846)— — 
Curtailments1,636 — — — 
Settlements(3,867)— — — 
Currency translation adjustments5,390 3,023 — — 
End of year$1,044,035 $945,187 $25,670 $23,566 

Change in plan assets:
Beginning of year$835,139 $738,296 $— $— 
Actual return on plan assets105,810 133,896 — — 
Employer contribution155,359 3,867 2,059 1,846 
Plan participants’ contributions1,366 1,276 331 346 
Benefits paid(46,607)(43,736)(2,390)(2,192)
Actual expenses(1,526)(1,846)— — 
Settlements(3,867)— — — 
Currency translation adjustments4,835 3,386 — — 
End of year$1,050,509 $835,139 $— $— 
Funded status$6,474 $(110,048)$(25,670)$(23,566)

Pension BenefitsPostretirement Benefits
(In thousands)2020201920202019
Amounts recognized on the balance sheet
Noncurrent assets$92,554 $11,711 $— $— 
Current liabilities(6,444)(5,143)(1,596)(1,547)
Noncurrent liabilities(79,636)(116,616)(24,074)(22,019)
Total$6,474 $(110,048)$(25,670)$(23,566)
Amounts recognized in accumulated other comprehensive income (AOCI)
Net actuarial loss (gain)$294,545 $263,660 $624 $(2,429)
Prior service cost(321)(934)(747)(1,404)
Total$294,224 $262,726 $(123)$(3,833)
Information for pension plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation$114,297 $881,731 N/AN/A
Accumulated benefit obligation111,807 848,309 N/AN/A
Fair value of plan assets28,217 759,972 N/AN/A
ScheduleOfAssumptionsUsedTableTextBlock
Pension BenefitsPostretirement Benefits
2020201920202019
Weighted-average assumptions in determination of benefit obligation:
Discount rate2.36 %3.05 %2.43 %3.15 %
Rate of compensation increase3.41 %3.46 %N/AN/A
Health care cost trends:
Rate assumed for subsequent yearN/AN/A7.25 %7.50 %
Ultimate rate reached in 2026
N/AN/A4.50 %4.50 %
Weighted-average assumptions in determination of net periodic benefit cost:
Discount rate3.05 %4.09 %3.15 %4.20 %
Expected return on plan assets7.11 %7.59 %N/AN/A
Rate of compensation increase3.46 %3.50 %N/AN/A
Health care cost trends:
Rate assumed for subsequent yearN/AN/A7.50 %7.85 %
Ultimate rate reached in 2026
N/AN/A4.50 %4.50 %
ScheduleOfAllocationOfPlanAssetsTableTextBlock
As of December 31,TargetExpected
20202019ExposureRange
Asset class
Domestic equities54%51%50%
40%-60%
International equities15%15%15%
10%-20%
Total equity69%66%65%
55%-75%
Fixed income31%34%35%
25%-45%
ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Asset CategoryTotalQuoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents$22,457 $2,010 $20,447 $— 
Equity securities- Mutual funds (1)
534,479 427,391 107,088 — 
Bond funds (2)
273,979 211,372 62,607 — 
Other (3)
4,224 — — 4,224 
December 31, 2019$835,139 $640,773 $190,142 $4,224 
Cash and cash equivalents$16,710 $1,376 $15,334 $— 
Equity securities- Mutual funds (1)
688,257 570,293 117,964 — 
Bond funds (2)
341,140 242,627 98,513 — 
Other (3)
4,402 — — 4,402 
December 31, 2020$1,050,509 $814,296 $231,811 $4,402 
(In thousands)Insurance
Contracts
OtherTotal
December 31, 2018$8,408 $2,313 $10,721 
Actual return on plan assets:
Relating to assets still held at the reporting date— 115 115 
Purchases, sales, and settlements(8,408)1,715 (6,693)
Foreign currency translation adjustment— 81 81 
December 31, 2019$— $4,224 $4,224 
Actual return on plan assets:
Relating to assets still held at the reporting date(20)(15)
Relating to assets sold during the period— (58)(58)
Purchases, sales, and settlements523 (680)(157)
Foreign currency translation adjustment49 359 408 
December 31, 2020$577 $3,825 $4,402 
ScheduleOfExpectedBenefitPaymentsTableTextBlock
(In thousands)Pension
Plans
Postretirement
Plans
Total
2021$55,668 $1,596 $57,264 
202255,872 1,592 57,464 
202356,721 1,595 58,316 
202461,772 1,569 63,341 
202558,203 1,548 59,751 
2026 — 2030295,165 7,099 302,264