Pension and Other Post-Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Funded Status

Funded Status(in thousands):

	Pension Plans						Post-retirement Healthcare Plans
	2015			2014			2015			2014
Accumulated benefit obligation	$	777,320		$	807,992		$	4,999		$	6,163
Change in benefit obligation
Obligation as of January 1	$	807,992		$	761,774		$	6,163		$	7,482
Service cost	—			—			177			239
Interest cost	34,584			39,517			192			286
Plan transfers	2,558			2,659			—			—
Benefits paid	(32,696		)	(29,961		)	(788		)	(1,623		)
Settlement payments	—			(98,738		)	—			—
Actuarial (gain) loss	(35,118		)	132,741			(745		)	(221		)
Obligation as of December 31	$	777,320		$	807,992		$	4,999		$	6,163
Change in plan assets
Fair value as of January 1	$	719,787		$	751,246		$	—		$	—
Actual gain on plan assets	(23,677		)	88,453			—			—
Plan transfers	2,558			2,659			—			—
Employer contributions	6,181			6,128			788			1,623
Benefits paid	(32,696		)	(29,961		)	(788		)	(1,623		)
Settlement payments	$	—		$	(98,738	)	$	—		$	—
Fair value as of December 31	$	672,153		$	719,787		$	—		$	—
Funded status
Underfunded plans
Current liabilities	$	(1,346	)	$	(1,506	)	$	(626	)	$	(812	)
Non-current liabilities	$	(103,821	)	$	(86,699	)	$	(4,373	)	$	(5,351	)

Schedule of Net Benefit Costs

ABX’s net periodic benefit costs for its defined benefit pension plans and post-retirement healthcare plans for the years ended December 31, 2015, 2014 and 2013, are as follows (in thousands):

	Pension Plans									Post-Retirement Healthcare Plan
	2015			2014			2013			2015			2014			2013
Service cost	$	—		$	—		$	—		$	177		$	239		275
Interest cost	34,584			39,517			35,957			192			286			264
Expected return on plan assets	(44,082		)	(46,111		)	(45,990		)	—			—			—
Settlements	—			11,660			—			—			—			—
Amortization of prior service cost	—			—			—			(542		)	(3,487		)	(5,654		)
Amortization of net (gain) loss	7,170			(2		)	12,296			292			321			419
Net periodic benefit cost	$	(2,328	)	$	5,064		$	2,263		$	119		$	(2,641	)	$	(4,696	)

Schedule of Net Periodic Benefit Cost Not yet Recognized

The pre-tax amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit expense at December 31 are as follows (in thousands):

	Pension Plans				Post-Retirement Healthcare Plans
	2015		2014		2015			2014
Unrecognized prior service cost	$	—	$	—	$	(153	)	$	(696	)
Unrecognized net actuarial loss	144,402		118,932		449			1,486
Accumulated other comprehensive (income) loss	$	144,402	$	118,932	$	296		$	790

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The following table sets forth the amounts of unrecognized net actuarial loss and (gain) recorded in accumulated other comprehensive loss that is expected to be recognized as components of net periodic benefit expense during 2016 (in thousands):

	Pension Plans		Post- Retirement Healthcare Plans
Amortization of actuarial loss	$	13,472	$	160
Prior Service Cost	—		(102		)

Schedule of Assumptions Used

Assumptions used in determining the funded status of ABX’s pension plans at December 31 were as follows:

	Pension Plans
	2015	2014	2013
Discount rate - crewmembers	4.70%	4.35%	5.25%
Discount rate - non-crewmembers	4.75%	4.40%	5.35%
Expected return on plan assets	6.25%	6.25%	6.25%

Schedule of Allocation of Plan Assets

The pension plan assets measured at fair value on a recurring basis were as follows (in thousands):

As of December 31, 2015	Fair Value Measurement Using						Total
	Level 1		Level 2		Level 3
Plan assets
Common trust funds	$	—	$	4,354	$	—	$	4,354
Corporate stock	14,832		—		—		14,832
Mutual funds	46,991		99,056		—		146,047
Fixed income investments	4,954		443,600		—		448,554
Real estate	—		—		29,717		29,717
Hedge funds and private equity	—		—		28,649		28,649
Total plan assets	$	66,777	$	547,010	$	58,366	$	672,153

As of December 31, 2014	Fair Value Measurement Using						Total
	Level 1		Level 2		Level 3
Plan assets
Common trust funds	$	—	$	4,238	$	—	$	4,238
Corporate stock	17,878		—		—		17,878
Mutual funds	51,568		100,252		—		151,820
Fixed income investments	1,978		488,399		—		490,377
Real estate	—		—		26,057		26,057
Hedge funds and private equity	—		—		29,417		29,417
Total plan assets	$	71,424	$	592,889	$	55,474	$	719,787

The weighted-average asset allocations by asset category are as shown below:

	Composition of Plan Assets as of December 31
Asset category	2015		2014
Cash	1	%	—	%
Equity securities	28	%	28	%
Fixed income securities	67	%	68	%
Real estate	4	%	4	%
	100	%	100	%

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid out of the respective plans as follows (in thousands):

	Pension Benefits		Post-retirement Healthcare Benefits
2016	$	34,766	$	626
2017	40,373		629
2018	40,064		592
2019	42,234		584
2020	44,237		573
Years 2021 to 2025	245,721		2,477

Schedule of Level Three Defined Benefit Plan Assets Roll Forward

The following table presents a reconciliation of the beginning and ending balances of the fair value measurements using significant Level 3 unobservable inputs (in thousands):

	Hedge Funds & Private Equity			Real Estate Investments		Total
January 1, 2014	$	29,339		$	19,561	$	48,900
Unrealized gains	2,376			6,496		8,872
Purchases & settlements	(2,298		)	—		(2,298		)
December 31, 2014	$	29,417		$	26,057	$	55,474
Unrealized gains	1,418			3,660		5,078
Purchases & settlements	(2,186		)	—		(2,186		)
December 31, 2015	$	28,649		$	29,717	$	58,366