Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2012

Plan Assets and Benefit Obligations of Defined Benefit Pension Plans

The plan assets and benefit obligations of our defined benefit pension plans are measured at December 31 of each year.

	U.S. Plans									Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2012			2011			2010			2012			2011			2010
Components of net periodic benefit cost
Service cost for benefits earned	$	3,121		$	3,602		$	3,781		$	12,585		$	10,560		$	9,804
Interest cost on projected benefit obligation		24,314			24,373			24,191			30,944			34,033			32,954
Expected return on plan assets		(24,329	)		(25,070	)		(24,146	)		(43,728	)		(45,386	)		(41,569	)
Net amortization and deferrals		20,180			11,888			7,441			6,443			5,360			5,214
Settlement and curtailment		—			444			—			873			3,139			182
Special termination benefits		—			—			—			—			738			178
Net periodic benefit cost		23,286			15,237			11,267			7,117			8,444			6,763
Defined contribution and other retirement plans		7,039			6,550			7,169			4,837			4,113			4,459
Total expense	$	30,325		$	21,787		$	18,436		$	11,954		$	12,557		$	11,222
Changes in plan assets and benefit obligations recognized in OCI
Net actuarial loss	$	32,569		$	77,924					$	53,469		$	32,218
Recognized actuarial loss		(19,810	)		(11,441	)					(7,181	)		(8,352	)
Prior service cost		(370	)		(891	)					—			(191	)
Recognized prior service cost		—			—						(135	)		(147	)
Currency translation adjustment		—			—						6,068			355
Total recognized in OCI (before tax effects)	$	12,389		$	65,592					$	52,221		$	23,883

Components of Net Periodic Benefit Cost and Changes in Plan Assets and Benefit Obligations Recognized in OCI

(DOLLARS IN THOUSANDS)	Postretirement Benefits
	2012			2011			2010
Components of net periodic benefit cost
Service cost for benefits earned	$	1,357		$	1,178		$	1,378
Interest cost on projected benefit obligation		5,656			5,861			6,468
Net amortization and deferrals		(1,770	)		(2,552	)		(2,232	)
Expense	$	5,243		$	4,487		$	5,614
Changes in plan assets and benefit obligations recognized in OCI
Net actuarial loss (gain)	$	(10,921	)	$	16,909
Recognized actuarial loss		(2,951	)		(2,167	)
Recognized prior service credit		4,721			4,719
Total recognized in OCI (before tax effects)	$	(9,151	)	$	19,461

Amounts Expected to be Recognized in Net Periodic Cost

The amounts expected to be recognized in net periodic cost in 2013 are:

(DOLLARS IN THOUSANDS)	U.S. Plans		Non-U.S. Plans		Postretirement Benefits
Actuarial loss recognition	$	23,171	$	9,765	$	2,060
Prior service cost recognition		308		15		(4,712	)

Changes in Postretirement Benefit Obligation and Plan Assets

Changes in the postretirement benefit obligation and plan assets, as applicable, are detailed in the following table:

	U.S. Plans						Non-U.S. Plans						Postretirement Benefits
(DOLLARS IN THOUSANDS)	2012			2011			2012			2011			2012			2011
Benefit obligation at beginning of year	$	523,298		$	440,646		$	670,231		$	625,052		$	128,719		$	108,710
Service cost for benefits earned		3,121			3,602			12,585			10,560			1,357			1,178
Interest cost on projected benefit obligation		24,314			24,373			30,944			34,033			5,656			5,861
Actuarial loss (gain)		47,547			78,026			76,786			43,067			(10,921	)		16,909
Plan amendments		—			—			—			(191	)		—			—
Adjustments for expense/tax contained in service cost		—			—			(2,282	)		(2,382	)		—			—
Plan participants’ contributions		—			—			2,492			2,523			979			1,015
Benefits paid		(24,574	)		(23,349	)		(27,234	)		(28,923	)		(6,482	)		(4,954	)
Curtailments / settlements		—			—			(2,641	)		(11,290	)		—			—
Special termination benefits		—			—			—			738			—			—
Translation adjustments		—			—			19,283			(2,956	)		—			—
Benefit obligation at end of year	$	573,706		$	523,298		$	780,164		$	670,231		$	119,308		$	128,719
Fair value of plan assets at beginning of year	$	372,142		$	347,084		$	702,366		$	671,559
Actual return on plan assets		39,306			25,172			64,765			53,853
Employer contributions		18,415			23,235			16,767			18,817
Participants’ contributions		—			—			2,492			2,523
Benefits paid		(24,574	)		(23,349	)		(27,234	)		(28,923	)
Settlements		—			—			(2,641	)		(11,290	)
Translation adjustments		—			—			19,673			(4,173	)
Fair value of plan assets at end of year	$	405,289		$	372,142		$	776,188		$	702,366
Funded status at end of year	$	(168,417	)	$	(151,156	)	$	(3,976	)	$	32,135

Amounts Recognized in Balance Sheet

	U.S. Plans						Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2012			2011			2012			2011
Amounts recognized in the balance sheet:
Other assets	$	—		$	—		$	33,345		$	67,518
Other current liabilities		(3,855	)		(3,615	)		(621	)		(631	)
Retirement liabilities		(164,562	)		(147,541	)		(36,700	)		(34,752	)
Net amount recognized	$	(168,417	)	$	(151,156	)	$	(3,976	)	$	32,135

Amounts Recognized in Accumulated Other Comprehensive Income

U.S. Plans					Non-U.S. Plans						Postretirement Benefits
(DOLLARS IN THOUSANDS)	2012		2011			2012			2011			2012			2011
Amounts recognized in AOCI consist of:
Net actuarial loss	$	209,156	$	196,398		$	231,857		$	179,512		$	31,087		$	44,959
Prior service cost (credit)		786		1,156			(431	)		(307	)		(19,719	)		(24,440	)
Total AOCI (before tax effects)	$	209,942	$	197,554		$	231,426		$	179,205		$	11,368		$	20,519

Accumulated Benefit Obligation

	U.S. Plans						Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2012			2011			2012			2011
Accumulated Benefit Obligation - end of year	$	570,655		$	516,747		$	745,828		$	644,548
Information for Pension Plans with an ABO in excess of Plan Assets:
Projected benefit obligation	$	573,706		$	523,298		$	43,403		$	39,664
Accumulated benefit obligation		570,655			516,747			41,720			38,470
Fair value of plan assets		405,289			372,142			16,776			16,520
Weighted-average assumptions used to determine obligations at December 31
Discount rate		4.10	%		4.70	%		4.14	%		4.71	%
Rate of compensation increase		3.25	%		3.25	%		2.73	%		2.88	%

Estimated Future Benefit Payments

(DOLLARS IN THOUSANDS)	U.S. Plans		Non-U.S. Plans		Postretirement Benefits
Estimated Future Benefit Payments
2013		27,565		28,597		5,050
2014		28,916		28,488		5,493
2015		30,338		29,627		5,888
2016		31,466		30,172		6,294
2017		32,702		31,708		6,725
2018-2022		179,188		174,217		38,443
Contributions
Required Company Contributions in the Following Year (2013)	$	3,933	$	18,142	$	5,050

Percentage of Assets Invested

U.S. Plans						Non-U.S. Plans
	2012			2011			2012			2011
Percentage of assets invested in:
Cash and cash equivalents		1	%		2	%		2	%		1	%
Equities		50	%		50	%		22	%		22	%
Fixed income		49	%		48	%		59	%		59	%
Property		0	%		0	%		9	%		10	%
Alternative and other investments		0	%		0	%		8	%		8	%

Fair Value Hierarchy of Plan Assets

The following tables present our plan assets for the U.S. and non-U.S. plans using the fair value hierarchy as of December 31, 2012 and 2011. Our plans’ assets were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and their placement within the fair value hierarchy levels. For more information on a description of the fair value hierarchy, see Note 14.

	U.S. Plans for the year ended December 31, 2012
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash Equivalents	$	—	$	1,976	$	—	$	1,976
Equity Securities
U.S. Common Stock		43,338		—		—		43,338
Non-U.S. Common Stock		700		—		—		700
Balanced Funds		—		8,077		—		8,077
Pooled Funds		—		150,372		—		150,372
Fixed Income Securities
Government & Government Agency Bonds		—		6,662		—		6,662
Mutual Funds		—		123,447		—		123,447
Corporate Bonds		—		61,382		—		61,382
Municipal Bonds		—		8,696		—		8,696
Asset Backed Securities		—		—		—		—
Total	$	44,038	$	360,612	$	—	$	404,650
Receivables							$	639
Total							$	405,289

	U.S. Plans for the year ended December 31, 2011
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash Equivalents	$	—	$	6,125	$	—	$	6,125
Equity Securities
U.S. Common Stock		40,045		—		—		40,045
Balanced Funds		—		7,631		—		7,631
Pooled Funds		—		136,634		—		136,634
Fixed Income Securities
Government & Government Agency Bonds		—		76,095		—		76,095
Corporate Bonds		—		93,062		—		93,062
Municipal Bonds		—		8,283		—		8,283
Asset Backed Securities		—		1,982		—		1,982
Total	$	40,045	$	329,812	$	—	$	369,857
Receivables							$	2,285
Total							$	372,142

	Non-U.S. Plans for the year ended December 31, 2012
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash	$	14,075	$	—	$	—	$	14,075
Equity Securities
U.S. Large Cap		28,009		—		—		28,009
Non-U.S. Large Cap		116,473		—		—		116,473
Non-U.S. Mid Cap		132		—		—		132
Non-U.S. Small Cap		35		—		—		35
Emerging Markets		25,876		—		—		25,876
Fixed Income Securities
U.S. Treasuries/Government Bonds		52		—		—		52
U.S. Corporate Bonds		—		—		—		—
Non-U.S. Treasuries/Government Bonds		131,764		68,453		—		200,217
Non-U.S. Corporate Bonds		64,583		182,068		—		246,651
Non-U.S. Mortgage-Backed Securities		—		—		—		—
Non-U.S. Asset-Backed Securities		—		—		—		—
Non-U.S. Other Fixed Income		1,460		9,944		—		11,404
Alternative Types of Investments
Insurance Contracts		945		—		—		945
Hedge Funds		—		—		14,436		14,436
Private Equity		—		—		7		7
Absolute Return Funds		—		51,156		—		51,156
Real Estate
Non-U.S. Real Estate		—		65,468		1,252		66,720
Total	$	383,404	$	377,089	$	15,695	$	776,188

	Non-U.S. Plans for the year ended December 31, 2011
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash	$	8,479	$	—	$	—	$	8,479
Equity Securities
U.S. Large Cap		26,683		—		—		26,683
Non-U.S. Large Cap		107,964		—		—		107,964
Non-U.S. Mid Cap		3,116		—		—		3,116
Non-U.S. Small Cap		455		—		—		455
Emerging Markets		14,265		—		—		14,265
Fixed Income Securities
U.S. Treasuries/Government Bonds		74		—		—		74
U.S. Corporate Bonds		5		—		—		5
Non-U.S. Treasuries/Government Bonds		199,266		35,308		—		234,574
Non-U.S. Corporate Bonds		52,174		109,013		—		161,187
Non-U.S. Mortgage-Backed Securities		—		—		—		—
Non-U.S. Asset-Backed Securities		—		11,734		—		11,734
Non-U.S. Other Fixed Income		—		8,664		—		8,664
Alternative Types of Investments
Insurance Contracts		—		320		—		320
Hedge Funds		—		—		54,036		54,036
Private Equity		—		—		1		1
Real Estate
Non-U.S. Real Estate		—		69,284		1,525		70,809
Total	$	412,481	$	234,323	$	55,562	$	702,366

Reconciliation of Level 3 Non-U.S. Plan Assets Held

The following table presents a reconciliation of Level 3 non-U.S. plan assets held during the year ended December 31, 2012:

	Non-U.S. Plans
(DOLLARS IN THOUSANDS)	Real Estate			Private Equity		Hedge Funds			Total
Ending balance as of December 31, 2011	$	1,525		$	1	$	54,036		$	55,562
Actual return on plan assets		(273	)		—		446			173
Purchases, sales and settlements		—			6		(40,046	)		(40,040	)
Ending balance as of December 31, 2012	$	1,252		$	7	$	14,436		$	15,695

Weighted Average Assumptions Used to Determine Postretirement Benefit Expense and Obligation

The following weighted average assumptions were used to determine our postretirement benefit expense and obligation for the years ended December 31:

	Expense						Liability
	2012			2011			2012			2011
Discount rate		4.60	%		5.50	%		4.00	%		4.60	%
Current medical cost trend rate		7.00	%		8.00	%		6.75	%		7.00	%
Ultimate medical cost trend rate		4.75	%		4.75	%		4.75	%		4.75	%
Medical cost trend rate decreases to ultimate rate in year		2021			2016			2021			2021

Sensitivity of Disclosures to Changes in Selected Assumptions

	Sensitivity of Disclosures to Changes in Selected  Assumptions
	25 BP Decrease in Discount Rate				25 BP Decrease in Discount Rate		25 BP Decrease in Long-Term Rate of Return
(DOLLARS IN THOUSANDS)	Change in PBO		Change in ABO		Change in pension expense		Change in pension expense
U.S. Pension Plans	$	17,816	$	17,687	$	1,181	$	843
Non-U.S. Pension Plans	$	33,889	$	31,185	$	2,733	$	1,929
Postretirement Benefit Plan		N/A	$	3,677	$	236		N/A

Net Periodic Benefit Cost [Member]

Weighted-Average Actuarial Assumption Used to Determine Expense

Weighted-average actuarial assumption used to determine expense	U.S. Plans									Non-U.S. Plans
	2012			2011			2010			2012			2011			2010
Discount rate		4.70	%		5.60	%		6.10	%		4.71	%		5.37	%		5.66	%
Expected return on plan assets		7.30	%		7.75	%		7.75	%		6.27	%		6.55	%		6.63	%
Rate of compensation increase		3.25	%		3.25	%		3.25	%		2.88	%		2.66	%		3.00	%