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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Benefit Costs
Net periodic pension cost ("NPPC") for U.S. and international plans for 2016, 2015 and 2014 is as follows:
 
 
U.S. Plans
 
International Plans
(In thousands)
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Defined benefit pension plans:
 
 
 
 
 
 
 
 
 
 
Service cost
 
$
3,783

 
$
2,889

 
$
2,233

 
$
1,585

 
$
1,648

 
$
1,610

Interest cost
 
10,165

 
12,357

 
12,868

 
26,822

 
36,282

 
43,230

Expected return on plan assets
 
(14,402
)
 
(16,812
)
 
(16,786
)
 
(42,979
)
 
(50,091
)
 
(49,927
)
Recognized prior service costs
 
63

 
81

 
90

 
189

 
188

 
184

Recognized losses
 
5,493

 
4,919

 
3,352

 
12,002

 
16,875

 
14,102

Settlement/curtailment loss (gain)
 
276

 

 

 
79

 
(23
)
 
60

Defined benefit pension plan cost (income)
 
5,378

 
3,434

 
1,757

 
(2,302
)
 
4,879

 
9,259

Multiemployer pension plans
 
636

 
853

 
1,199

 
1,368

 
1,463

 
1,762

Defined contribution plans
 
3,833

 
3,921

 
4,704

 
5,807

 
6,765

 
8,033

Net periodic pension cost
 
$
9,847

 
$
8,208

 
$
7,660

 
$
4,873

 
$
13,107

 
$
19,054

Schedule of Net Funded Status
The change in the financial status of the defined benefit pension plans and amounts recognized on the Consolidated Balance Sheets at December 31, 2016 and 2015 are as follows:
 
 
U.S. Plans
 
International Plans
(In thousands)
 
2016
 
2015
 
2016
 
2015
Change in benefit obligation:
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
 
$
307,390

 
$
325,319

 
$
900,104

 
$
1,049,603

Service cost
 
3,783

 
2,889

 
1,585

 
1,648

Interest cost
 
10,165

 
12,357

 
26,822

 
36,282

Plan participants' contributions
 

 

 
68

 
61

Amendments
 

 

 

 
47

Actuarial (gain) loss
 
5,223

 
(14,417
)
 
194,469

 
(85,028
)
Settlements/curtailments
 

 

 
(1,527
)
 
(250
)
Benefits paid
 
(20,909
)
 
(18,758
)
 
(32,079
)
 
(38,197
)
Effect of foreign currency
 

 

 
(137,082
)
 
(64,062
)
Benefit obligation at end of year
 
$
305,652

 
$
307,390

 
$
952,360

 
$
900,104

Change in plan assets:
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
 
$
208,870

 
$
233,350

 
$
755,966

 
$
791,045

Actual return on plan assets
 
15,289

 
(8,011
)
 
105,027

 
22,602

Employer contributions
 
2,021

 
2,289

 
17,192

 
27,402

Plan participants' contributions
 

 

 
68

 
61

Settlements/curtailments
 

 

 
(1,527
)
 
(250
)
Benefits paid
 
(20,909
)
 
(18,758
)
 
(31,485
)
 
(37,693
)
Effect of foreign currency
 

 

 
(112,498
)
 
(47,201
)
Fair value of plan assets at end of year
 
$
205,271

 
$
208,870

 
$
732,743

 
$
755,966

 
 
 
 
 
 
 
 
 
Funded status at end of year
 
$
(100,381
)
 
$
(98,520
)
 
$
(219,617
)
 
$
(144,138
)
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized on the Consolidated Balance Sheets for defined benefit pension plans consist of the following at December 31, 2016 and 2015:
 
 
U.S. Plans
 
International Plans
 
 
December 31
 
December 31
(In thousands)
 
2016
 
2015
 
2016
 
2015
Noncurrent assets
 
$
668

 
$
229

 
$
1,118

 
$
1,229

Current liabilities
 
2,278

 
2,072

 
505

 
479

Noncurrent liabilities
 
98,771

 
96,678

 
220,230

 
144,888

Accumulated other comprehensive loss before tax
 
161,075

 
162,571

 
434,868

 
376,641

Schedule of Net Periodic Benefit Cost Not yet Recognized
Amounts recognized in Accumulated other comprehensive loss, before tax, for defined benefit pension plans consist of the following at December 31, 2016 and 2015:
 
 
U.S. Plans
 
International Plans
(In thousands)
 
2016
 
2015
 
2016
 
2015
Net actuarial loss
 
$
161,042

 
$
162,475

 
$
433,626

 
$
375,725

Prior service cost
 
33

 
96

 
1,242

 
916

Total
 
$
161,075

 
$
162,571

 
$
434,868

 
$
376,641

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
The estimated amounts that will be amortized from Accumulated other comprehensive loss into defined benefit pension plan NPPC in 2017 are as follows:
(In thousands)
 
U.S. Plans
 
International  Plans
Net actuarial loss
 
$
5,701

 
$
15,627

Prior service cost
 
33

 
175

Total
 
$
5,734

 
$
15,802

Schedule of Expected Benefit Payments
The expected benefit payments for defined benefit pension plans over the next ten years are as follows:
(In millions)
 
2017
 
2018
 
2019
 
2020
 
2021
 
2022-2026
U.S. Plans
 
$
19.8

 
$
19.3

 
$
19.0

 
$
19.0

 
$
19.0

 
$
95.0

International Plans
 
32.7

 
33.6

 
34.5

 
35.9

 
37.4

 
203.2

Schedule of Assumptions Used
The weighted-average actuarial assumptions used to determine the defined benefit pension plan obligations at
December 31, 2016 and 2015 were as follows:
 
 
U.S. Plans
 
International Plans
 
Global Weighted-Average
 
 
December 31
 
December 31
 
December 31
 
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Discount rates
 
4.0
%
 
4.2
%
 
2.8
%
 
3.8
%
 
3.1
%
 
3.9
%
Rates of compensation increase
 
%
 
3.0
%
 
3.3
%
 
3.2
%
 
3.3
%
 
3.2
%
The weighted-average actuarial assumptions used to determine the defined benefit pension plan NPPC for 2016, 2015 and 2014 were as follows:
 
 
U.S. Plans
December 31
 
International Plans
December 31
 
Global Weighted-Average
December 31
 
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rates
 
4.2
%
 
3.9
%
 
4.7
%
 
3.8
%
 
3.7
%
 
4.7
%
 
3.9
%
 
3.7
%
 
4.7
%
Expected long-term rates of return on plan assets
 
7.3
%
 
7.5
%
 
7.5
%
 
6.5
%
 
6.8
%
 
6.8
%
 
6.7
%
 
7.0
%
 
7.0
%
Rates of compensation increase
 
3.0
%
 
3.0
%
 
3.0
%
 
3.2
%
 
3.2
%
 
3.4
%
 
3.2
%
 
3.2
%
 
3.4
%
Schedule of Accumulated Benefit Obligations
The accumulated benefit obligation for all defined benefit pension plans at December 31, 2016 and 2015 was as follows:
 
 
U.S. Plans
 
International Plans
 
 
December 31
 
December 31
(In millions)
 
2016
 
2015
 
2016
 
2015
Accumulated benefit obligation
 
$
305.7

 
$
307.4

 
$
946.3

 
$
894.8

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for defined benefit pension plans with accumulated benefit obligations in excess of plan assets at December 31, 2016 and 2015 were as follows:
 
 
U.S. Plans
 
International Plans
 
 
December 31
 
December 31
(In millions)
 
2016
 
2015
 
2016
 
2015
Projected benefit obligation
 
$
296.7

 
$
297.5

 
$
913.0

 
$
876.9

Accumulated benefit obligation
 
296.7

 
297.5

 
910.0

 
871.9

Fair value of plan assets
 
195.6

 
198.8

 
694.9

 
731.6

U.S. Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Allocation of Plan Assets
The fair values of the Company's U.S. defined benefit pension plans' assets at December 31, 2015 by asset class are as follows:
(In thousands)
 
Total
 
Level 1
 
Level 2
Domestic equities:
 
 
 
 
 
 
Common stocks
 
$
35,619

 
$
35,619

 
$

Mutual funds—equities
 
42,093

 
11,595

 
30,498

International equities—mutual funds
 
38,787

 
38,787

 

Fixed income investments:
 
 
 
 
 
 
U.S. Treasuries and collateralized securities
 
15,506

 

 
15,506

Corporate bonds and notes
 
12,987

 
12,987

 

Mutual funds—bonds
 
39,594

 
12,094

 
27,500

Other—mutual funds
 
20,803

 
20,803

 

Cash and money market accounts
 
3,481

 
3,481

 

Total
 
$
208,870

 
$
135,366

 
$
73,504

The fair values of the Company's U.S. defined benefit pension plans' assets at December 31, 2016 by asset class are as follows:
(In thousands)
 
Total
 
Level 1
 
Level 2
Domestic equities:
 
 
 
 
 
 
Common stocks
 
$
27,339

 
$
27,339

 
$

Mutual funds—equities
 
54,102

 
9,928

 
44,174

International equities—mutual funds
 
37,948

 
37,948

 

Fixed income investments:
 

 
 
 
 
U.S. Treasuries and collateralized securities
 
14,240

 

 
14,240

Corporate bonds and notes
 
11,457

 
11,457

 

Mutual funds—bonds
 
37,745

 
11,927

 
25,818

Other—mutual funds
 
20,346

 
20,346

 

Cash and money market accounts
 
2,094

 
2,094

 

Total
 
$
205,271

 
$
121,039

 
$
84,232

The asset allocations attributable to the Company's U.S. defined benefit pension plans at December 31, 2016 and 2015, and the long-term target allocation of plan assets, by asset category, are as follows:
 
 
Target  Long-Term
Allocation
 
Percentage of Plan Assets
December 31
U.S. Plans Asset Category
 
 
2016
 
2015
Domestic equity securities
 
33%-43%
 
39.7
%
 
37.2
%
International equity securities
 
14%-24%
 
18.5
%
 
18.5
%
Fixed income securities
 
28%-38%
 
30.9
%
 
32.6
%
Cash and cash equivalents
 
Less than 5%
 
1.0
%
 
1.7
%
Other (a)
 
5%-15%
 
9.9
%
 
10.0
%
International Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Allocation of Plan Assets
The fair values of the Company's international defined benefit pension plans' assets at December 31, 2016 by asset class are as follows:
(In thousands)
 
Total
 
Level 1
 
Level 2
 
Level 3
Equity securities:
 
 
 
 
 
 
 
 
Mutual funds—equities
 
$
272,070

 
$

 
$
272,070

 
$

Fixed income investments:
 

 
 
 
 
 
 
Mutual funds—bonds
 
314,098

 

 
314,098

 

Insurance contracts
 
7,657

 

 
7,657

 

Other:
 

 
 
 
 
 
 
Real estate funds/limited partnerships
 
23,714

 

 
23,714

 

Other mutual funds
 
113,345

 

 
113,345

 

Cash and money market accounts
 
1,859

 
1,859

 

 

Total
 
$
732,743

 
$
1,859

 
$
730,884

 
$

The asset allocations attributable to the Company's international defined benefit pension plans at December 31, 2016 and 2015 and the long-term target allocation of plan assets, by asset category, are as follows:
International Plans Asset Category
 
Target Long-Term
Allocation
 
Percentage of Plan Assets
December 31
 
 
2016
 
2015
Equity securities
 
32.5
%
 
37.1
%
 
33.7
%
Fixed income securities
 
42.5
%
 
43.9
%
 
43.3
%
Cash and cash equivalents
 

 
0.3
%
 
0.3
%
Other (b)
 
25.0
%
 
18.7
%
 
22.7
%
The fair values of the Company's international defined benefit pension plans' assets at December 31, 2015 by asset class are as follows:
(In thousands)
 
Total
 
Level 1
 
Level 2
 
Level 3
Equity securities:
 
 
 
 
 
 
 
 
Mutual funds—equities
 
$
255,937

 
$

 
$
255,937

 
$

Fixed income investments:
 
 
 
 
 
 
 
 
Mutual funds—bonds
 
320,259

 

 
320,259

 

Insurance contracts
 
7,306

 

 
7,306

 

Other:
 

 
 
 
 
 
 
Real estate funds / limited partnerships
 
52,313

 

 
27,951

 
24,362

Other mutual funds
 
117,646

 

 
117,646

 

Cash and money market accounts
 
2,505

 
2,505

 

 

Total
 
$
755,966

 
$
2,505

 
$
729,099

 
$
24,362

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The following table summarizes changes in the fair value of Level 3 assets in international defined benefit pension plans for 2016, 2015 and 2014:
Level 3 Asset Changes for the Twelve Months Ended December 31
 
 
(In thousands)
 
2016
 
2015
 
2014
Real Estate Limited Partnership:
 
 
 
 
 
 
Balance at beginning of year
 
$
24,362

 
$
22,647

 
$
20,423

Contributions to partnership
 

 
109

 
385

Cash distributions received
 

 
(10,062
)
 
(1,614
)
Actual return related to plan assets
 
(2,387
)
 
11,668

 
3,453

Liquidation of investment
 
(21,975
)
 

 

Balance at end of year
 
$

 
$
24,362

 
$
22,647