Pension and Other Post-Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Funded Status

Funded Status(in thousands):

	Pension Plans						Post-retirement Healthcare Plans
	2016			2015			2016			2015
Accumulated benefit obligation	$	791,182		$	777,320		$	4,231		$	4,999
Change in benefit obligation
Obligation as of January 1	$	777,320		$	807,992		$	4,999		$	6,163
Service cost	—			—			123			177
Interest cost	35,872			34,584			170			192
Plan transfers	1,226			2,558			—			—
Benefits paid	(33,593		)	(32,696		)	(667		)	(788		)
Curtailments and settlement	—			—			(560		)	—
Actuarial (gain) loss	10,357			(35,118		)	166			(745		)
Obligation as of December 31	$	791,182		$	777,320		$	4,231		$	4,999
Change in plan assets
Fair value as of January 1	$	672,153		$	719,787		$	—		$	—
Actual gain on plan assets	69,836			(23,677		)	—			—
Plan transfers	1,226			2,558			—			—
Employer contributions	6,263			6,181			667			788
Benefits paid	(33,593		)	(32,696		)	(667		)	(788		)
Fair value as of December 31	$	715,885		$	672,153		$	—		$	—
Funded status
Underfunded plans
Current liabilities	$	(1,357	)	$	(1,346	)	$	(458	)	$	(626	)
Non-current liabilities	$	(73,940	)	$	(103,821	)	$	(3,773	)	$	(4,373	)

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, 2016, 2015 and 2014, are as follows (in thousands):

	Pension Plans									Post-Retirement Healthcare Plan
	2016			2015			2014			2016			2015			2014
Service cost	$	—		$	—		$	—		$	123		$	177		239
Interest cost	35,872			34,584			39,517			170			192			286
Expected return on plan assets	(41,056		)	(44,082		)	(46,111		)	—			—			—
Curtailments and settlements	—			—			11,660			(1,997		)	—			—
Amortization of prior service cost	—			—			—			(103		)	(542		)	(3,487		)
Amortization of net (gain) loss	13,472			7,170			(2		)	160			292			321
Net periodic benefit cost (income)	$	8,288		$	(2,328	)	$	5,064		$	(1,647	)	$	119		$	(2,641	)

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
	2016		2015		2016			2015
Unrecognized prior service cost	$	—	$	—	$	(51	)	$	(153	)
Unrecognized net actuarial loss	112,506		144,402		1,893			449
Accumulated other comprehensive loss	$	112,506	$	144,402	$	1,842		$	296

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 2017 (in thousands):

	Pension Plans		Post- Retirement Healthcare Plans
Amortization of actuarial loss	$	7,746	$	283
Prior Service Cost	—		(51		)

Schedule of Assumptions Used

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

	Pension Plans
	2016	2015	2014
Discount rate - crewmembers	4.50%	4.70%	4.35%
Discount rate - non-crewmembers	4.60%	4.75%	4.40%
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, 2016	Fair Value Measurement Using				Total
	Level 1		Level 2
Plan assets
Common trust funds	$	—	$	3,469	$	3,469
Corporate stock	20,818		—		20,818
Mutual funds	59,370		114,940		174,310
Fixed income investments	777		457,237		458,014
Benefit Plan Assets	$	80,965	$	575,646	$	656,611
Investments measured at net asset value ("NAV")					59,273
Total benefit plan assets					$	715,884

As of December 31, 2015	Fair Value Measurement Using				Total
	Level 1		Level 2
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
Benefit Plan Assets	$	66,777	$	547,010	$	613,787
Investments measured at net asset value ("NAV")					58,366
Total benefit plan assets					$	672,153

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

	Composition of Plan Assets as of December 31
Asset category	2016		2015
Cash	1	%	1	%
Equity securities	30	%	28	%
Fixed income securities	64	%	67	%
Real estate	5	%	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
2017	$	36,417	$	458
2018	42,206		476
2019	41,937		509
2020	44,190		523
2021	46,201		536
Years 2022 to 2026	253,444		2,128

Schedule of Level Three Defined Benefit Plan Assets Roll Forward

The following table presents investments measured at fair value based on NAV per share as a practical expedient:

	Fair Value		Redemption Frequency	Redemption Notice Period	Unfunded Commitments
As of December 31, 2016
Hedge Funds & Private Equity	$	25,831	(1) (2)	90 days	$	—
Real Estate	33,442		(3)	90 days	—
Total investments measured at NAV	$	59,273			$	—
As of December 31, 2015
Hedge Funds & Private Equity	$	28,649	(1) (2)	90 days	$	—
Real Estate	29,717		(3)	90 days	—
Total investments measured at NAV	$	58,366			$	—