Retirement plans (Tables) - Retirement Plans
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12 Months Ended |
Dec. 31, 2016 |
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| Defined Benefit Plan Disclosure [Line Items] |
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| Schedule of Defined Benefit Plans Disclosures |
Our pension costs, which include costs for our qualified and non-qualified plans, are presented in the following table: | | | | | | | | | | | In thousands of dollars | | 2016 | 2015 | 2014 | Service cost—benefits earned during the period | $ | 816 |
| $ | 920 |
| $ | 812 |
| Interest cost on benefit obligation | 26,111 |
| 23,800 |
| 23,558 |
| Expected return on plan assets | (26,764 | ) | (31,464 | ) | (28,697 | ) | Amortization of prior service costs | 670 |
| 673 |
| 599 |
| Amortization of actuarial loss | 7,615 |
| 6,335 |
| 4,003 |
| Total pension expense for company-sponsored retirement plans | $ | 8,448 |
| $ | 264 |
| $ | 275 |
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| Schedule of Changes in Projected Benefit Obligations |
The following table provides a reconciliation of pension benefit obligations (on a projected benefit obligation measurement basis), plan assets and funded status of company-sponsored retirement plans, along with the related amounts that are recognized in the Consolidated Balance Sheets. | | | | | | | | In thousands of dollars | | Dec. 31, 2016 | Dec. 31, 2015 | Change in benefit obligations | | | Benefit obligations at beginning of year | $ | 586,624 |
| $ | 566,224 |
| Service cost | 816 |
| 920 |
| Interest cost | 26,111 |
| 23,800 |
| Actuarial loss (gain) | 17,755 |
| (12,514 | ) | Gross benefits paid | (38,532 | ) | (34,401 | ) | Adjustment due to spin-off of publishing businesses | 13,639 |
| 42,595 |
| Benefit obligations at end of year | $ | 606,413 |
| $ | 586,624 |
| Change in plan assets | | | Fair value of plan assets at beginning of year | $ | 400,193 |
| $ | 387,626 |
| Actual return on plan assets | 21,316 |
| (725 | ) | Employer contributions | 5,191 |
| 12,008 |
| Gross benefits paid | (38,532 | ) | (34,401 | ) | Transfers | — |
| 35,685 |
| Fair value of plan assets at end of year | $ | 388,168 |
| $ | 400,193 |
| Funded status at end of year | $ | (218,245 | ) | $ | (186,431 | ) | Amounts recognized in Consolidated Balance Sheets | Accrued benefit cost—current | $ | (30,955 | ) | $ | (7,587 | ) | Accrued benefit cost—noncurrent | $ | (187,290 | ) | $ | (178,844 | ) |
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| Schedule of Net Funded Status |
The funded status (on a projected benefit obligation basis) of our principal retirement plans at December 31, 2016, is as follows: | | | | | | | | | | | In thousands of dollars | | Fair Value of Plan Assets | Benefit Obligation | Funded Status | TRP | $ | 388,168 |
| $ | 502,922 |
| $ | (114,754 | ) | SERP (a) | — |
| 102,856 |
| (102,856 | ) | All other | — |
| 635 |
| (635 | ) | Total | $ | 388,168 |
| $ | 606,413 |
| $ | (218,245 | ) |
(a) The SERP is an unfunded, unsecured liability
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| Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets |
The following table presents information for our retirement plans for which accumulated benefits exceed assets: | | | | | | | | In thousands of dollars | | | | Dec. 31, 2016 | Dec. 31, 2015 | Accumulated benefit obligation | $ | 601,430 |
| $ | 576,333 |
| Fair value of plan assets | $ | 388,168 |
| $ | 400,193 |
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| Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets |
The following table presents information for our retirement plans for which projected benefit obligations exceed assets: | | | | | | | | In thousands of dollars | | | | Dec. 31, 2016 | Dec. 31, 2015 | Projected benefit obligation | $ | 606,413 |
| $ | 586,624 |
| Fair value of plan assets | $ | 388,168 |
| $ | 400,193 |
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| Schedule of Net Periodic Benefit Cost Not yet Recognized |
The following table summarizes the amounts recorded in accumulated other comprehensive income (loss) that have not yet been recognized as a component of pension expense as of the dates presented (pre-tax): | | | | | | | | In thousands of dollars | | | | Dec. 31, 2016 | Dec. 31, 2015 | Net actuarial losses | $ | (204,761 | ) | $ | (184,808 | ) | Prior service cost | (2,717 | ) | (3,367 | ) | Amounts in accumulated other comprehensive income (loss) | $ | (207,478 | ) | $ | (188,175 | ) |
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| Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) |
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) consist of the following for continuing operations only: | | | | | In thousands of dollars | | 2016 | Current year actuarial loss | $ | (23,203 | ) | Amortization of previously deferred actuarial loss | 7,615 |
| Amortization of previously deferred prior service costs | 670 |
| Adjustment due to spin-off of publishing businesses | (4,386 | ) | Total | $ | (19,304 | ) |
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| Schedule of Assumptions Used |
Pension costs: The following assumptions were used to determine net pension costs: | | | | | | 2016 | 2015 | 2014 | Discount rate | 4.46% | 4.19% | 4.84% | Expected return on plan assets | 7.00% | 8.00% | 8.00% | Rate of compensation increase | 3.00% | 3.00% | 3.00% |
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| Schedule Of Assumptions Used In Calculating Pension Benefit Obligations Table |
Benefit obligations and funded status: The following assumptions were used to determine the year-end benefit obligations: | | | | | Dec. 31, 2016 | Dec. 31, 2015 | Discount rate | 4.12% | 4.46% | Rate of compensation increase | 3.00% | 3.00% |
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| Schedule of Allocation of Plan Assets |
The asset allocation for the TRP at the end of 2016 and 2015, and target allocations for 2017, by asset category, are presented in the table below: | | | | | | | | Target Allocation | | Allocation of Plan Assets | | 2017 | 2016 | 2015 | Equity securities | 60 | % | 59 | % | 58 | % | Debt securities | 25 |
| 34 |
| 35 |
| Other | 15 |
| 7 |
| 7 |
| Total | 100 | % | 100 | % | 100 | % |
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| Schedule of Expected Benefit Payments |
We estimate we will make the following benefit payments (from either retirement plan assets or directly from our funds), which reflect expected future employee service, as appropriate: | | | | | In thousands of dollars | 2017 | $ | 62,588 |
| 2018 | $ | 36,675 |
| 2019 | $ | 38,514 |
| 2020 | $ | 38,030 |
| 2021 | $ | 38,272 |
| 2022-2026 | $ | 196,925 |
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