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Pension and Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Assumptions Related to Plans
The following are assumptions related to the U.S. defined benefit pension plans:
 Year Ended December 31,
 202220212020
Weighted average assumptions used to determine Benefit Obligations:   
Discount rate5.73 %3.00 %2.62 %
Rate of increase in compensation levels3.50 3.50 3.63 
Weighted average assumptions used to determine net pension expense:
Long-term rate of return on assets5.75 %6.00 %6.00 %
Discount rate3.00 2.62 3.41 
Rate of increase in compensation levels3.50 3.50 3.56 
Weighted-average interest crediting rates3.79 %3.79 %3.79 %
The following are assumptions related to the non-U.S. defined benefit pension plans:
 Year Ended December 31,
 202220212020
Weighted average assumptions used to determine Benefit Obligations:   
Discount rate4.46 %1.71 %1.23 %
Rate of increase in compensation levels3.61 3.18 3.11 
Weighted average assumptions used to determine net pension expense:
Long-term rate of return on assets2.43 %2.37 %2.37 %
Discount rate1.71 1.23 1.61 
Rate of increase in compensation levels3.18 3.11 3.12 
Weighted-average interest crediting rates1.49 %1.41 %1.00 %
The following are assumptions related to postretirement benefits:
 Year Ended December 31,
 202220212020
Weighted average assumptions used to determine Benefit Obligation:   
Discount rate5.83 %2.83 %2.32 %
Weighted average assumptions used to determine net expense:
Discount rate2.83 %2.32 %3.27 %
Components of Net Periodic Cost for Pension and Postretirement Benefits
Net pension expense for the U.S. defined benefit pension plans (including both qualified and non-qualified plans) was:
 Year Ended December 31,
 202220212020
 (Amounts in thousands)
Service cost$24,680 $25,162 $25,893 
Interest cost13,157 11,952 15,100 
Expected return on plan assets(25,345)(25,377)(25,794)
Settlement (gain) loss— — 128 
Amortization of unrecognized prior service cost175 188 184 
Amortization of unrecognized net loss3,461 7,725 6,977 
U.S. net pension expense$16,128 $19,650 $22,488 
Net pension expense for non-U.S. defined benefit pension plans was:
 Year Ended December 31,
 202220212020
 (Amounts in thousands)
Service cost$5,984 $7,336 $7,052 
Interest cost6,506 5,544 6,572 
Expected return on plan assets(5,883)(6,204)(5,018)
Amortization of unrecognized net loss2,729 4,509 4,315 
Amortization of unrecognized prior service cost 293 300 262 
Settlement loss and other (75)640 708 
Non-U.S. net pension expense$9,554 $12,125 $13,891 
Net postretirement benefit cost for postretirement medical plans was:
 Year Ended December 31,
 202220212020
 (Amounts in thousands)
Interest cost$464 $399 $596 
Amortization of unrecognized prior service cost122 122 122 
Amortization of unrecognized net (gain) loss192 (21)(132)
Net postretirement benefit expense $778 $500 $586 
Schedule of Funded Status
The following summarizes the net pension (liability) asset for U.S. plans:
 December 31,
 20222021
 (Amounts in thousands)
Plan assets, at fair value$365,044 $488,281 
Benefit Obligation(382,959)(471,825)
Funded status$(17,915)$16,456 
The following summarizes the net pension liability for non-U.S. plans:
 December 31,
 20222021
 (Amounts in thousands)
Plan assets, at fair value$172,276 $275,941 
Benefit Obligation(268,364)(420,809)
Funded status - Underfunded$(96,088)$(144,868)
The following summarizes the accrued postretirement benefits liability for the postretirement medical plans:
 December 31,
 20222021
 (Amounts in thousands)
Postretirement Benefit Obligation$13,353 $17,021 
Funded status$(13,353)$(17,021)
Schedule of Amounts Recognized in Balance Sheet
The following summarizes amounts recognized in the balance sheet for U.S. plans:
 December 31,
 20222021
 (Amounts in thousands)
Noncurrent assets$— $22,398 
Current liabilities(232)(170)
Noncurrent liabilities(17,683)(5,772)
Funded status$(17,915)$16,456 
The following summarizes amounts recognized in the balance sheet for non-U.S. plans:
 December 31,
 20222021
(Amounts in thousands)
Noncurrent assets$15,305 $22,655 
Current liabilities(6,877)(7,205)
Noncurrent liabilities(104,516)(160,318)
Funded status$(96,088)$(144,868)
The following summarizes amounts recognized in the balance sheet for postretirement Benefit Obligation:
 December 31,
 20222021
 (Amounts in thousands)
Current liabilities$(2,086)$(2,239)
Noncurrent liabilities(11,267)(14,782)
Funded status$(13,353)$(17,021)
Schedule of Benefit Obligations and Accumulated Benefit Obligations
The following is a summary of the changes in the U.S. defined benefit plans’ pension obligations:
December 31,
20222021
 (Amounts in thousands)
Balance — January 1$471,825 $487,418 
Service cost24,680 25,162 
Interest cost13,157 11,952 
Plan amendments and settlements179 — 
Actuarial (gain) loss (1)(87,791)(11,208)
Benefits paid(39,091)(41,499)
Balance — December 31$382,959 $471,825 
Accumulated benefit obligations at December 31$382,488 $471,024 
_______________________________________
(1)The actuarial gains in 2022 and 2021 primarily reflect the impact of changes in the discount rate.
The following is a reconciliation of the non-U.S. plans’ defined benefit pension obligations:
December 31,
20222021
 (Amounts in thousands)
Balance — January 1$420,809 $469,998 
Service cost5,984 7,336 
Interest cost6,506 5,544 
Employee contributions71 74 
Settlements and other(7,944)(3,140)
Actuarial gains(1)(108,546)(24,493)
Net benefits and expenses paid(15,797)(17,316)
Currency translation impact(2)(32,719)(17,194)
Balance — December 31$268,364 $420,809 
Accumulated benefit obligations at December 31$253,428 $399,757 
_______________________________________
(1)Actuarial gains primarily reflects the impact of changes in the discount rates for all plans.
(2)In 2022 and 2021, the currency translation gains reflects the strengthening of the U.S. dollar against the Euro and the British pound.
The following is a reconciliation of the postretirement Benefit Obligation:
December 31,
20222021
 (Amounts in thousands)
Balance — January 1$17,021 $18,648 
Interest cost464 399 
Employee contributions792 874 
Medicare subsidies receivable— 67 
Actuarial (gain) loss(1,747)1,225 
Net benefits and expenses paid(3,177)(4,192)
Balance — December 31$13,353 $17,021 
Schedule of Expected Cash Activity
The following table summarizes the expected cash benefit payments for the U.S. defined benefit pension plans in the future (amounts in millions):
2023$40.6 
202439.1 
202540.0 
202640.4 
202740.0 
2028-2032194.1 
The following table summarizes the expected cash benefit payments for the non-U.S. defined benefit plans in the future (amounts in millions):
2023$15.1 
202415.8 
202516.5 
202617.1 
202718.0 
2028-203291.9 
The following presents expected benefit payments for future periods (amounts in millions):
Expected
Payments
2023$2.1 
20241.9 
20251.8 
20261.6 
20271.5 
2028-20325.3 
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for U.S. plans, net of tax:
December 31,
20222021
 (Amounts in thousands)
Balance — January 1$(30,014)$(49,321)
Amortization of net loss2,647 5,907 
Amortization of prior service cost 134 144 
Net gain (loss) arising during the year(17,085)13,256 
Prior service cost arising during the year(137)— 
Balance — December 31$(44,455)$(30,014)
Amounts recorded in accumulated other comprehensive loss consist of:
 December 31,
 20222021
 (Amounts in thousands)
Unrecognized net loss$(43,725)$(29,344)
Unrecognized prior service cost(730)(670)
Accumulated other comprehensive loss, net of tax$(44,455)$(30,014)
The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for non-U.S. plans, net of tax:
December 31,
20222021
 (Amounts in thousands)
Balance — January 1$(70,581)$(97,246)
Amortization of net loss2,450 4,207 
Net gains arising during the year21,099 17,995 
Settlement losses130 616 
Prior service cost arising during the year(233)— 
Currency translation impact and other4,714 3,847 
Balance — December 31$(42,421)$(70,581)
Amounts recorded in accumulated other comprehensive loss consist of:
 December 31,
 20222021
 (Amounts in thousands)
Unrecognized net loss$(39,007)$(67,192)
Unrecognized prior service cost(3,414)(3,389)
Accumulated other comprehensive loss, net of tax$(42,421)$(70,581)
The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for postretirement benefits, net of tax:
20222021
 (Amounts in thousands)
Balance — January 1$(2,072)$(1,213)
Amortization of net (gain) loss147 (16)
Amortization of prior service cost93 94 
Net gain (loss) arising during the year1,336 (937)
Balance — December 31$(496)$(2,072)
Amounts recorded in accumulated other comprehensive loss consist of:
 December 31,
 20222021
 (Amounts in thousands)
Unrecognized net gain (loss)$55 $(1,420)
Unrecognized prior service cost(551)(652)
Accumulated other comprehensive income, net of tax$(496)$(2,072)
Reconciliation of Plan Assets
The following is a reconciliation of the U.S. defined benefit pension plans’ assets:
December 31,
20222021
 (Amounts in thousands)
Balance — January 1$488,281 $477,680 
Gain (loss) on plan assets(84,785)31,501 
Company contributions639 20,599 
Benefits paid(39,091)(41,499)
Balance — December 31$365,044 $488,281 
The following is a reconciliation of the non-U.S. plans’ defined benefit pension assets:
December 31,
20222021
 (Amounts in thousands)
Balance — January 1$275,941 $287,308 
Return on plan assets(71,104)1,631 
Employee contributions71 74 
Company contributions15,657 11,964 
Settlements(8,039)(3,096)
Currency translation impact(24,453)(4,624)
Net benefits and expenses paid(15,797)(17,316)
Balance — December 31$172,276 $275,941 
Allocation of Plan Assets The asset allocations for the qualified plan at the end of 2022 and 2021 by asset category, are as follows:
Target Allocation
at December 31,		Percentage of Actual Plan Assets at December 31,
Asset category2022202120222021
Cash and cash equivalents1 %1 %1 %1 %
Cash and cash equivalents1 %1 %1 %1 %
Global Equity20 %27 %21 %26 %
Global Real Assets14 %15 %13 %16 %
Equity securities34 %42 %34 %42 %
Diversified Credit 14 %15 %18 %15 %
Liability-Driven Investment51 %42 %47 %42 %
Fixed income65 %57 %65 %57 %
The plan’s financial instruments, shown below, are presented at fair value. See Note 1 for further discussion on how the hierarchical levels of the fair values of the Plan’s investments are determined. The fair values of our U.S. defined benefit plan assets were:
At December 31, 2022At December 31, 2021
  Hierarchical Levels Hierarchical Levels
 TotalIIIIIITotalIIIIII
 (Amounts in thousands)(Amounts in thousands)
Cash and cash equivalents$4,072 $4,072 $— $— $6,192 $6,192 $— $— 
Commingled Funds:  
Equity securities  
Global Equity(a)77,217 — 77,217 — 128,269 — 128,269 — 
Global Real Assets(b)46,476 — 46,476 — 79,089 — 79,089 — 
Fixed income securities 
Diversified Credit(c)64,877 — 64,877 — 71,100 — 71,100 — 
Liability-Driven Investment(d)172,402 — 172,402 — 203,631 — 203,631 — 
 $365,044 $4,072 $360,972 $— $488,281 $6,192 $482,089 $— 
_______________________________________
(a)Global Equity fund seeks to closely track the performance of the MSCI All Country World Index.
(b)Global Real Asset funds seek to provide exposure to the listed global real estate investment trusts and infrastructure markets.
(c)Diversified Credit funds seek to provide exposure to the high yield, emerging markets, bank loans and securitized credit markets.
(d)Liability-Driven Investment ("LDI") funds seek to invest in high quality fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities.
The asset allocations for the non-U.S. defined benefit pension plans at the end of 2022 and 2021 are as follows:
Target Allocation at
December 31,		Percentage of Actual Plan
Assets at December 31,
Asset category2022202120222021
Cash and cash equivalents1 %— %1 %— %
Cash and cash equivalents1 %— %1 %— %
North American Companies— %1 %— %1 %
Global Equity— %1 %— %1 %
Equity securities— %2 %— %2 %
U.K. Government Gilt Index38 %42 %38 %42 %
Liability-Driven Investment12 %9 %12 %9 %
Fixed income50 %51 %50 %51 %
Multi-asset20 %20 %20 %20 %
Buy-in Contracts19 %20 %19 %20 %
Other 10 %7 %10 %7 %
Other types49 %47 %49 %47 %
The fair values of the non-U.S. assets were:
At December 31, 2022At December 31, 2021
 Hierarchical Levels Hierarchical Levels
 TotalIIIIIITotalIIIIII
 (Amounts in thousands)(Amounts in thousands)
Cash$2,134 $2,134 $— — $2,264 $2,264 $— $— 
Commingled Funds:  
Equity securities  
North American Companies(a)— — — — 2,609 — 2,609 — 
Global Equity(b)— — — — 2,516 — 2,516 — 
Fixed income securities  
U.K. Government Gilt Index(c)65,650 — 65,650 — 115,450 — 115,450 — 
Liability-Driven Investment(d)20,849 — 20,849 — 25,387 — 25,387 — 
Other Types of Investments:
Multi-asset(e)34,268 — 34,268 — 54,824 — 54,824 — 
Buy-in Contracts(f)32,313 — — 32,313 54,896 — — 54,896 
Other(g)17,062 — — 17,062 17,995 — — 17,995 
 $172,276 $2,134 $120,767 $49,375 $275,941 $2,264 $200,786 $72,891 
_______________________________________
(a)North American Companies represents U.S. and Canadian large cap equity funds, which are managed to track their respective benchmarks (FTSE All-World USA Index and FTSE All-World Canada Index).
(b)Global Equity represents actively managed global equity funds, taking a top-down strategic view on the different regions by analyzing companies based on fundamentals, market-driven, thematic and quantitative factors to generate alpha.
(c)U.K. Government Gilt Index represents U.K. government issued fixed income investments which are passively managed to track their respective benchmarks.
(d)LDI seeks to invest in fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities.
(e)Multi-asset seeks an attractive risk-adjusted return by investing in a diversified portfolio of strategies, including equities and fixed income.
(f)The Buy-in Contracts ("Contract" or "Contracts") represent assets held by plans, whereby the cost of providing benefits to plan participants is funded by the Contract. The Contracts are held by the plans for the benefit of plan participants in the Netherlands and U.K. The fair value of these assets are based on the current present value of accrued benefits and will fluctuate based on changes in the obligations associated with covered plan members as well as the assumptions used in the present value calculation. The fair value of asset held in the Netherlands Contract as of January 1, 2022 was $24.3 million, with contributions and currency adjustments resulting in a fair value of $15.7 million at December 31, 2022. Similarly, the fair value of asset held in the U.K. plan Contract as of January 1, 2022 was $30.6 million, with contributions and currency adjustments resulting in a fair value of $16.6 million at December 31, 2022.
(g)Includes assets held by plans outside the United Kingdom, the Netherlands and Canada. Details have not been provided due to immateriality.
Schedule of Benefit Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
The following summarizes key pension plan information regarding U.S. and non-U.S. plans whose accumulated benefit obligations exceed the fair value of their respective plan assets.
 December 31,
 20222021
 (Amounts in thousands)
Benefit Obligation$529,531 $230,688 
Accumulated benefit obligation519,287 215,535 
Fair value of plan assets401,285 59,232