PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)

12 Months Ended

Dec. 31, 2021

Retirement Benefits, Description [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

The net pension and net postretirement benefit costs consisted of the following:

	Pension Benefits						Postretirement Benefits
(In thousands)	2021		2020		2019		2021		2020		2019
Service cost	$	26,735	$	26,013	$	23,664	$	472	$	506	$	432
Interest cost	17,419		23,847		29,019		426		609		796
Expected return on plan assets	(60,286)		(67,217)		(59,153)		—		—		—
Amortization of prior service cost	(251)		(269)		(283)		(304)		(657)		(656)
Recognized net actuarial loss/(gain)	28,905		23,062		9,310		—		(5)		(198)
Special termination benefits	52		—		—		367		—		—
Cost of settlements/curtailments	3,310		2,395		—		—		—		—
Net periodic benefit cost	$	15,884	$	7,831	$	2,557	$	961	$	453	$	374

ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock

The following table outlines the Corporation's consolidated disclosure of the pension benefits and postretirement benefits information described previously. The Corporation had no foreign postretirement plans. All plans were valued using a December 31, 2021 measurement date.

	Pension Benefits				Postretirement Benefits
(In thousands)	2021		2020		2021		2020
Change in benefit obligation:
Beginning of year	$	1,044,035	$	945,187	$	25,670	$	23,566
Service cost	26,735		26,013		472		506
Interest cost	17,419		23,847		426		609
Plan participants’ contributions	1,304		1,366		294		331
Amendments	(477)		—		309		—
Actuarial (gain) loss	(37,825)		92,596		(41)		3,048
Benefits paid	(68,965)		(46,607)		(2,303)		(2,390)
Special Termination Benefits	52		—		367		—
Actual expenses	(1,491)		(1,526)		—		—
Curtailments	—		1,636		—		—
Settlements	—		(3,867)		—		—
Currency translation adjustments	(1,717)		5,390		—		—
End of year	$	979,070	$	1,044,035	$	25,194	$	25,670

Change in plan assets:
Beginning of year	$	1,050,509	$	835,139	$	—	$	—
Actual return on plan assets	163,881		105,810		—		—
Employer contribution	12,766		155,359		2,009		2,059
Plan participants’ contributions	1,304		1,366		294		331
Benefits paid	(68,965)		(46,607)		(2,303)		(2,390)
Actual expenses	(1,491)		(1,526)		—		—
Settlements	—		(3,867)		—		—
Currency translation adjustments	(1,388)		4,835		—		—
End of year	$	1,156,616	$	1,050,509	$	—	$	—
Funded status	$	177,546	$	6,474	$	(25,194)	$	(25,670)

	Pension Benefits				Postretirement Benefits
(In thousands)	2021		2020		2021		2020
Amounts recognized on the balance sheet
Noncurrent assets	$	256,422	$	92,554	$	—	$	—
Current liabilities	(6,257)		(6,444)		(2,076)		(1,596)
Noncurrent liabilities(1)	(72,619)		(79,636)		(23,118)		(24,074)
Total	$	177,546	$	6,474	$	(25,194)	$	(25,670)
Amounts recognized in accumulated other comprehensive income (AOCI)
Net actuarial loss (gain)	$	120,676	$	294,545	$	584	$	624
Prior service cost	(544)		(321)		(135)		(747)
Total	$	120,132	$	294,224	$	449	$	(123)
Information for plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	$	101,667	$	114,297	$	25,193	N/A
Accumulated benefit obligation	95,755		111,807		25,193		N/A
Fair value of plan assets	22,792		28,217		—		N/A

(1) As of December 31, 2021 and 2020, this caption includes accrued pension and other postretirement benefit costs of $4.4 million and $5.4 million, respectively, reflected in the "Liabilities held for sale" caption within the Consolidated Balance Sheet.

ScheduleOfAssumptionsUsedTableTextBlock

Plan Assumptions

	Pension Benefits				Postretirement Benefits
	2021		2020		2021		2020
Weighted-average assumptions in determination of benefit obligation:
Discount rate	2.72	%	2.36	%	2.79	%	2.43	%
Rate of compensation increase	3.40	%	3.41	%	N/A		N/A
Health care cost trends:
Rate assumed for subsequent year	N/A		N/A		7.00	%	7.25	%
Ultimate rate reached in 2032	N/A		N/A		4.50	%	4.50	%
Weighted-average assumptions in determination of net periodic benefit cost:
Discount rate	2.36	%	3.05	%	2.43	%	3.15	%
Expected return on plan assets	6.18	%	7.11	%	N/A		N/A
Rate of compensation increase	3.41	%	3.46	%	N/A		N/A
Health care cost trends:
Rate assumed for subsequent year	N/A		N/A		7.25	%	7.50	%
Ultimate rate reached in 2032	N/A		N/A		4.50	%	4.50	%

ScheduleOfAllocationOfPlanAssetsTableTextBlock

Below are the Corporation’s actual and established target allocations for the CW Pension Plan, representing 90% of consolidated assets:

	As of December 31,		Target	Expected
	2021	2020	Exposure	Range
Asset class
Domestic equities	56%	54%	50%	40%-60%
International equities	15%	15%	15%	10%-20%
Total equity	71%	69%	65%	55%-75%
Fixed income	29%	31%	35%	25%-45%

ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock

The following table presents consolidated plan assets (in thousands) using the fair value hierarchy as of December 31, 2021.

Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
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
Cash and cash equivalents	$	36,788	$	3,632	$	33,156	$	—
Equity securities - Mutual funds (1)	771,655		655,995		115,660		—
Bond funds (2)	343,630		229,973		113,657		—
Other (3)	4,543		—		—		4,543
December 31, 2021	$	1,156,616	$	889,600	$	262,473	$	4,543

(1)This category consists of domestic and international equity securities. It is comprised of U.S. securities benchmarked against the S&P 500 index and Russell 2000 index, international mutual funds benchmarked against the MSCI EAFE index, global equity index mutual funds associated with our U.K. based pension plans and balanced funds associated with the U.K. and Canadian based pension plans.

(2)This category consists of domestic and international bonds. The domestic fixed income securities are benchmarked against the Bloomberg Barclays Capital Aggregate Bond index, actively-managed bond mutual funds comprised of domestic investment grade debt, fixed income derivatives, and below investment-grade issues, U.S. mortgage backed securities, asset backed securities, municipal bonds, and convertible debt. International bonds consist of bond mutual funds for institutional investors associated with the CW Pension Plan, Switzerland, and U.K. based pension plans.

(3)This category consists primarily of real estate investment trusts in Switzerland.

The following table presents a reconciliation of Level 3 assets held during the years ended December 31, 2021 and 2020:

(In thousands)	Insurance Contracts		Real Estate		Other		Total
December 31, 2019	$	—	$	4,224	$	—	$	4,224
Actual return on plan assets:
Relating to assets still held at the reporting date	5		(20)		—		(15)
Relating to assets sold during the period	—		(58)		—		(58)
Purchases, sales, and settlements	523		(680)		—		(157)
Foreign currency translation adjustment	49		359		—		408
December 31, 2020	577		3,825		—		4,402
Actual return on plan assets:
Relating to assets still held at the reporting date	—		125		16		141
Relating to assets sold during the period	32		—		—		32
Purchases, sales, and settlements	(592)		226		464		98
Foreign currency translation adjustment	(17)		(102)		(11)		(130)
December 31, 2021	—		4,074		469		4,543

ScheduleOfExpectedBenefitPaymentsTableTextBlock

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

(In thousands)	Pension Plans		Postretirement Plans		Total
2022	$	55,062	$	2,076	$	57,138
2023	55,349		1,699		57,048
2024	60,035		1,645		61,680
2025	55,531		1,602		57,133
2026	56,269		1,532		57,801
2027 — 2031	285,666		7,065		292,731