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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]    
Schedule of Costs of Retirement Plans
Net periodic pension and postretirement benefit expense (income) recorded in the Company's statement of income for defined benefit pension plans and postretirement benefit plans include the following components:
 
 
Pension Benefit
 
Postretirement Benefit
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
 
(dollars in thousands)
Service cost
 
$
760

 
$
680

 
$
600

 
$
—

 
$
—

 
$
—

Interest cost
 
1,760

 
1,610

 
1,620

 
30

 
40

 
50

Expected return on plan assets
 
(2,070
)
 
(1,810
)
 
(1,720
)
 
—

 
—

 
—

Amortization of prior-service cost
 
—

 
—

 
—

 
—

 
—

 
(200
)
Settlement/curtailment
 
—

 
—

 
190

 
—

 
—

 
(1,490
)
Amortization of net (gain)/loss
 
1,120

 
1,280

 
1,070

 
(90
)
 
(80
)
 
(80
)
Net periodic benefit expense (income)
 
$
1,570

 
$
1,760

 
$
1,760

 
$
(60
)
 
$
(40
)
 
$
(1,720
)
  
Schedule of Assumptions Used
Weighted-average assumptions used in accounting for the U.S. defined benefit pension plans and postretirement benefit plans are as follows:
 
 
Pension Benefit
 
Postretirement Benefit
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for obligations
 
4.17
%
 
5.01
%
 
4.24
%
 
3.89
%
 
4.48
%
 
3.69
%
Discount rate for benefit costs
 
5.01
%
 
4.24
%
 
4.78
%
 
4.48
%
 
3.69
%
 
4.54
%
Rate of increase in compensation levels
 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

Expected long-term rate of return on plan assets
 
7.50
%
 
7.50
%
 
7.75
%
 
N/A

 
N/A

 
N/A

The Company utilizes a high-quality (Aa) corporate bond yield curve as the basis for its domestic discount rate for its pension and postretirement benefit plans. Management believes this yield curve removes the impact of including additional required corporate bond yields (potentially considered in the above-median curve) resulting from the uncertain economic climate that does not necessarily reflect the general trend in high-quality interest rates.

Actuarial valuations of the Company's non-U.S. defined benefit pension plans were prepared as of December 31, 2014, 2013 and 2012. Weighted-average assumptions used in accounting for the non-U.S. defined benefit pension plans are as follows:
 
 
Pension Benefit
 
 
2014
 
2013
 
2012
Discount rate for obligations
 
3.70
%
 
4.50
%
 
4.50
%
Discount rate for benefit costs
 
4.50
%
 
4.50
%
 
4.80
%
Rate of increase in compensation levels
 
3.80
%
 
4.10
%
 
3.70
%
Expected long-term rate of return on plan assets
 
5.60
%
 
5.40
%
 
5.50
%
  
Schedule of Changes in Projected Benefit Obligations and Fair Value of Plan Assets
 
 
Pension Benefit
 
Postretirement Benefit
 
 
2014
 
2013
 
2014
 
2013
 
 
(dollars in thousands)
Changes in Projected Benefit Obligations
 
 
 
 
 
 
 
 
Benefit obligations at January 1
 
$
(38,230
)
 
$
(38,730
)
 
$
(810
)
 
$
(970
)
Service cost
 
(760
)
 
(680
)
 
—

 
—

Interest cost
 
(1,760
)
 
(1,610
)
 
(30
)
 
(40
)
Participant contributions
 
(60
)
 
(60
)
 
—

 
—

Actuarial gain (loss)
 
(6,470
)
 
1,280

 
100

 
170

Benefit payments
 
2,230

 
1,850

 
80

 
30

Change in foreign currency
 
1,320

 
(280
)
 
—

 
—

Projected benefit obligations at December 31
 
(43,730
)
 
(38,230
)
 
(660
)
 
(810
)
Changes in Plan Assets
 
 
 
 
 
 
 
 
Fair value of plan assets at January 1
 
$
31,780

 
$
27,860

 
$
—

 
$
—

Actual return on plan assets
 
1,830

 
2,270

 
—

 
—

Employer contributions
 
2,340

 
3,240

 
80

 
30

Participant contributions
 
60

 
60

 
—

 
—

Benefit payments
 
(2,230
)
 
(1,850
)
 
(80
)
 
(30
)
Change in foreign currency
 
(1,170
)
 
200

 
—

 
—

Fair value of plan assets at December 31
 
32,610

 
31,780

 
—

 
—

Funded status at December 31
 
$
(11,120
)
 
$
(6,450
)
 
$
(660
)
 
$
(810
)
  
Schedule of Amounts Recognized in Balance Sheet
 
 
Pension Benefit
 
Postretirement Benefit
 
 
2014
 
2013
 
2014
 
2013
 
 
(dollars in thousands)
Amounts Recognized in Balance Sheet
 
 
 
 
 
 
 
 
Prepaid benefit cost
 
$
790

 
$
980

 
$
—

 
$
—

Current liabilities
 
(320
)
 
(410
)
 
(70
)
 
(90
)
Noncurrent liabilities
 
(11,590
)
 
(7,020
)
 
(590
)
 
(720
)
Net liability recognized at December 31
 
$
(11,120
)
 
$
(6,450
)
 
$
(660
)
 
$
(810
)
  
Schedule of Accumulated Other Comprehensive Income
 
 
Pension Benefit
 
Postretirement Benefit
 
 
2014
 
2013
 
2014
 
2013
 
 
(dollars in thousands)
Amounts Recognized in Accumulated Other Comprehensive (Income) Loss
 
 
 
 
 
 
 
 
Unrecognized prior-service cost
 
$
90

 
$
110

 
$
—

 
$
—

Unrecognized net loss/(gain)
 
21,420

 
16,420

 
(670
)
 
(670
)
Total accumulated other comprehensive (income) loss recognized at December 31
 
$
21,510

 
$
16,530

 
$
(670
)
 
$
(670
)
Changes in AOCI by component for the year ended December 31, 2014 are summarized as follows, net of tax:
 
 
Defined Benefit Plans
 
 Derivative Instruments
 
Foreign Currency Translation
 
Total
 
 
(dollars in thousands)
Balance, December 31, 2013
 
$
(10,840
)
 
$
1,060

 
$
37,610

 
$
27,830

Net unrealized losses arising during the period
 
(4,040
)
 
(900
)
 
(15,090
)
 
(20,030
)
Less: Net realized losses reclassified to net income (a)
 
(700
)
 
(450
)
 
(1,270
)
 
(2,420
)
Net current-period change
 
(3,340
)
 
(450
)
 
(13,820
)
 
(17,610
)
Balance, December 31, 2014
 
$
(14,180
)
 
$
610

 
$
23,790

 
$
10,220


__________________________
(a) Defined benefit plans, net of income tax expense of $0.3 million. See Note 16, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax expense of $0.3 million. See Note 13, "Derivative Instruments," for further details.
The Company reclassified approximately $1.3 million of foreign currency translation losses from AOCI into net income related to the restructuring of business during the year ended December 31, 2014. See Note 7, "Facility Closures and Sale of Business," for additional details.
Changes in AOCI by component for the year ended December 31, 2013 are summarized as follows, net of tax:
 
 
Defined Benefit Plans
 
 Derivative Instruments
 
Foreign Currency Translation
 
Total
 
 
(dollars in thousands)
Balance, December 31, 2012
 
$
(12,440
)
 
$
(1,680
)
 
$
53,380

 
$
39,260

Net unrealized gains (losses) arising during the period
 
800

 
3,370

 
(7,860
)
 
(3,690
)
Less: Net realized gains (losses) reclassified to net income (a)
 
(800
)
 
630

 
7,910

 
7,740

Net current-period change
 
1,600

 
2,740

 
(15,770
)
 
(11,430
)
Balance, December 31, 2013
 
$
(10,840
)
 
$
1,060

 
$
37,610

 
$
27,830

__________________________
(a) Defined benefit plans, net of income tax expense of $0.4 million. See Note 16, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax expense of $0.4 million. See Note 13, "Derivative Instruments," for further details.
The Company reclassified approximately $7.9 million of foreign currency translation gains from AOCI into net income related to the sale of a business during the year ended December 31, 2013. See Note 7, "Facility Closures and Sale of Business," for additional details.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
 
 
Pension Benefit
 
Postretirement Benefit
 
 
2014
 
2013
 
2014
 
2013
 
 
(dollars in thousands)
Benefit Obligation in Excess of Plan Assets
 
 
 
 
 
 
 
 
Accumulated benefit obligations at December 31
 
$
(40,630
)
 
$
(20,200
)
 
$
(660
)
 
$
(810
)
Plans with Benefit Obligation Exceeding Plan Assets
 
 
 
 
 
 
 
 
Benefit obligation
 
$
(42,910
)
 
$
(37,430
)
 
$
(660
)
 
$
(810
)
Plan assets
 
31,000

 
30,000

 
—

 
—

Benefit obligation in excess of plan assets
 
$
(11,910
)
 
$
(7,430
)
 
$
(660
)
 
$
(810
)
  
Schedule of Effect of Change in Discount Rate and Expected Return on Assets on Benefit Obligations and Expense
 
 
December 31, 2014
Benefit Obligation
 
2014 Expense
 
 
Pension
 
Postretirement
Benefit
 
Pension
 
Postretirement
Benefit
 
 
(dollars in thousands)
Discount rate
 
 
 
 
 
 
 
 
25 basis point increase
 
$
(1,580
)
 
$
(20
)
 
$
(140
)
 
$
—

25 basis point decrease
 
$
1,650

 
$
20

 
$
150

 
—

Expected return on assets
 
 
 
 
 
 
 
 
50 basis point increase
 
N/A

 
N/A

 
$
(170
)
 
N/A

50 basis point decrease
 
N/A

 
N/A

 
$
170

 
N/A

  
Schedule of Allocation of Plan Assets
The actual weighted average asset allocation of the Company's domestic and foreign pension plans' assets at December 31, 2014 and 2013 and target allocations by class, were as follows:
 
 
Domestic Pension
 
Foreign Pension
 
 
 
 
Actual
 
 
 
Actual
 
 
Target
 
2014
 
2013
 
Target
 
2014
 
2013
Equity securities
 
50%-70%

 
63
%
 
61
%
 
55
%
 
52
%
 
57
%
Fixed income securities
 
30%-50%

 
35
%
 
36
%
 
45
%
 
48
%
 
42
%
Cash and cash equivalents
 
—

 
2
%
 
3
%
 
—

 
—
%
 
1
%
Total
 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
The following table summarizes the level under the fair value hierarchy (see Note 3, "Summary of Significant Accounting Policies") that the Company's pension plan assets are measured on a recurring basis as of December 31, 2014:
 
 
Total
 
Level 1
 
Level 2
 
Level 3
Equity Securities
 
 
 
 
 
 
 
 
Investment funds
 
$
18,220

 
$
—

 
$
18,220

 
$
—

Fixed Income Securities
 
 
 
 
 
 
 
 
Investment funds
 
8,610

 
—

 
8,610

 
—

Government bonds
 
2,080

 
—

 
2,080

 
—

Government agencies
 
30

 
—

 
30

 
—

Corporate bonds
 
1,890

 
—

 
1,890

 
—

Other(a)
 
1,270

 
—

 
1,270

 
—

Cash and cash equivalents
 
 
 
 
 
 
 
 
Short term investment funds
 
510

 
130

 
380

 
—

Total
 
$
32,610

 
$
130

 
$
32,480

 
$
—

________________________________________
(a) Comprised of mortgage-backed, asset backed securities
  
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
 
 
Pension
Benefit
 
Postretirement
Benefit
 
 
(dollars in thousands)
December 31, 2015
 
$
1,720

 
$
70

December 31, 2016
 
1,770

 
70

December 31, 2017
 
1,820

 
60

December 31, 2018
 
1,940

 
50

December 31, 2019
 
2,010

 
50

Years 2019-2024
 
10,890

 
200

  
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one-percentage point change in the assumed health care cost trend would have the following effects:
 
 
One Percentage-Point Increase
 
One Percentage-Point Decrease
 
 
(dollars in thousands)
Effect on total service and interest cost
 
$
—

 
$
—

Effect on postretirement benefit obligation
 
50

 
(40
)