Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2012

Reconciliation of Changes in Benefit Obligations and Fair Value of Plan Assets

The following table provides a reconciliation of the changes in the benefit obligations and fair value of plan assets over the two-year period ended December 31, 2012, and a statement of the funded status at December 31 for both years.

	Pension Benefits												Other Benefits
	2012						2011						2012			2011
	U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	$	101,511		$	47,763		$	90,102		$	42,245		$	21,073		$	20,068
Service cost		1,756			1,300			1,759			1,078			763			691
Interest cost		4,247			2,206			4,506			2,320			922			1,035
Plan amendments		59			410			—			9			159			—
Benefits paid		(4,097	)		(3,536	)		(4,224	)		(1,703	)		(704	)		(734	)
Actuarial loss		13,202			6,700			10,159			18			3,313			60
Currency translation		—			1,712			—			(906	)		61			(47	)
Curtailments/settlements		(5,490	)		—			(791	)		—			—			—
Acquisition		—			—			—			4,702			—			—
Obligation at December 31	$	111,188		$	56,555		$	101,511		$	47,763		$	25,587		$	21,073
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	$	59,619		$	16,914		$	58,147		$	17,400		$	—		$	—
Actual return on plan assets		6,177			1,944			(459	)		(720	)		—			—
Employer contributions(1)		17,287			3,514			6,946			1,569			704			734
Benefits paid		(4,097	)		(3,536	)		(4,224	)		(1,703	)		(704	)		(734	)
Currency translation		—			810			—			(57	)		—			—
Settlements		(4,408	)		—			(791	)		—			—			—
Other		—			14			—			425			—			—
Fair value of plan assets at December 31	$	74,578		$	19,660		$	59,619		$	16,914		$	—		$	—
Funded status at December 31	$	(36,610	)	$	(36,894	)	$	(41,892	)	$	(30,849	)	$	(25,587	)	$	(21,073	)
COMPONENTS ON THE CONSOLIDATED BALANCE SHEETS
Current liabilities	$	(588	)	$	(743	)	$	(602	)	$	(733	)	$	(907	)	$	(937	)
Noncurrent liabilities		(36,022	)		(36,151	)		(41,290	)		(30,116	)		(24,680	)		(20,136	)
Net liability at December 31	$	(36,610	)	$	(36,894	)	$	(41,892	)	$	(30,849	)	$	(25,587	)	$	(21,073	)

(1) Includes $10.0 million discretionary contribution to U.S. plan in 2012.

Weighted Average Assumptions Used in Measurement of Benefit Obligation

The weighted average assumptions used in the measurement of the Company’s benefit obligation at December 31, 2012 and 2011 were as follows:

	U.S. Plans						Non-U.S. Plans
	2012			2011			2012			2011
Discount rate		3.56	%		4.45	%		3.91	%		4.68	%
Rate of compensation increase		3.94	%		3.90	%		2.99	%		2.96	%

Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

The pretax amounts recognized in Accumulated other comprehensive income (loss) as of December 31, 2012 and 2011 were as follows:

	Pension Benefits								Other Benefits
	2012				2011				2012			2011
	U.S.		Non-U.S.		U.S.		Non-U.S
	(In thousands)
Prior service cost (credit)	$	275	$	330	$	419	$	127	$	(2,325	)	$	(2,697	)
Net loss		51,240		15,496		49,509		8,781		5,279			2,198
Total	$	51,515	$	15,826	$	49,928	$	8,908	$	2,954		$	(499	)

Amounts in Accumulated Other Comprehensive Income (Loss) Expected to Be Recognized as Components of Net Periodic Benefit Cost During 2012

The amounts in Accumulated other comprehensive income (loss) as of December 31, 2012, that are expected to be recognized as components of net periodic benefit cost during 2013 are as follows:

	U.S. Pension Benefit Plans		Non-U.S. Pension Benefit Plans		Other Benefit Plans			Total
	(In thousands)
Prior service cost (credit)	$	104	$	26	$	(373	)	$	(243	)
Net loss		6,327		935		396			7,658
Total	$	6,431	$	961	$	23		$	7,415

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost of Plans

	U.S. Plans									Non-U.S. Plans
	2012			2011			2010			2012			2011			2010
Discount rate		4.45	%		5.20	%		5.80	%		4.68	%		5.35	%		5.88	%
Expected return on plan assets		8.00	%		8.25	%		8.50	%		5.90	%		6.17	%		6.28	%
Rate of compensation increase		3.90	%		3.90	%		3.89	%		2.96	%		3.37	%		3.35	%

Pension Plan Weighted Average Asset Allocations

The Company’s pension plan weighted average asset allocations at December 31, 2012 and 2011, by asset category, were as follows:

	2012			2011
Equity securities		68	%		65	%
Fixed income securities		32			35
Total		100	%		100	%

Summary of Basis Used to Measure Defined Benefit Plans' Assets at Fair Value

The following tables summarize the basis used to measure defined benefit plans’ assets at fair value at December 31, 2012 and 2011:

	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2012	(In thousands)
Equity	$	19,779	$	19,779	$	—	$	—
Absolute return funds(1)
U.S.		45,555		45,555		—		—
Non U.S.		26,685		18,898		7,787		—
Other(2)		2,219		2,219		—		—
	$	94,238	$	86,451	$	7,787	$	—

	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2011		(In thousands)
Equity	$	14,968	$	14,968	$	—	$	—
Absolute return funds(1)
U.S.		38,449		38,449		—		—
Non U.S.		21,709		16,520		5,189		—
Other(2)		1,015		1,015		—		—
	$	76,141	$	70,952	$	5,189	$	—

(1) Primarily funds invested by managers that have a global mandate with the flexibility to allocate capital broadly across a wide range of asset classes and strategies including, but not limited to equities, fixed income, commodities, interest rate futures, currencies and other securities to outperform an agreed benchmark with specific return and volatility targets.

(2) Primarily cash and cash equivalents.

Net Periodic Benefit Cost

Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

The following table provides pretax amounts recognized in Accumulated other comprehensive income (loss) in 2012:

	Pension Benefits
	U.S.			Non-U.S.			Other Benefits
	(In thousands)
Net loss in current year	$	(10,630	)	$	(5,778	)	$	(3,314	)
Prior service cost		(58	)		(206	)		(159	)
Amortization of prior service cost (credit)		105			9			(214	)
Amortization of net loss		5,271			580			225
Exchange rate effect on amounts in OCI		—			(516	)		8
Total	$	(5,312	)	$	(5,911	)	$	(3,454	)

Other Postretirement Benefit Plans

Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans

	Other Benefits
	2012		2011			2010
	(In thousands)
Service cost	$	763	$	691		$	528
Interest cost		922		1,035			1,008
Net amortization		11		(156	)		(370	)
Net periodic benefit cost	$	1,696	$	1,570		$	1,166

Pension Plans

Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans

The following tables provide the components of, and the weighted average assumptions used to determine, the net periodic benefit cost for the plans in 2012, 2011 and 2010:

	Pension Benefits
	2012						2011						2010
	U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
Service cost	$	1,756		$	1,300		$	1,759		$	1,078		$	1,665		$	719
Interest cost		4,247			2,206			4,506			2,320			4,525			2,148
Expected return on plan assets		(4,687	)		(1,035	)		(4,755	)		(1,117	)		(4,396	)		(945	)
Net amortization		5,376			589			4,855			442			4,401			302
Net periodic benefit cost	$	6,692		$	3,060		$	6,365		$	2,723		$	6,195		$	2,224