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Pension and Other Post-Retirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Schedule of Net Funded Status
Funded Status  (in thousands):
 Pension PlansPost-retirement
Healthcare Plans
 2020201920202019
Accumulated benefit obligation$873,826 $779,031 $3,484 $3,707 
Change in benefit obligation
Obligation as of January 1$779,031 $690,729 $3,707 $3,824 
Service cost— — 139 107 
Interest cost27,880 31,299 91 148 
Plan transfers2,895 3,313 — — 
Benefits paid(34,218)(31,718)(362)(365)
Curtailments and settlement(2,435)— (17)— 
Actuarial (gain) loss100,673 85,408 (74)(7)
Obligation as of December 31$873,826 $779,031 $3,484 $3,707 
Change in plan assets
Fair value as of January 1$746,763 $625,646 $— $— 
Actual gain (loss) on plan assets120,057 144,108 — — 
Plan transfers2,895 3,313 — — 
Employer contributions10,833 5,414 362 365 
Benefits paid(34,218)(31,718)(362)(365)
Settlement payments$(2,435)$— $— $— 
Fair value as of December 31$843,895 $746,763 $— $— 
Funded status
Overfunded plans, net asset$3,447 $4,996 $— $— 
Underfunded plans
Current liabilities$(1,348)$(3,796)$(415)$(431)
Non-current liabilities$(32,030)$(33,468)$(3,069)$(3,276)
Schedule of Net Benefit Costs
ABX’s net periodic benefit costs for its defined benefit pension plans and post-retirement healthcare plans for the years ended December 31, 2020, 2019 and 2018, are as follows (in thousands):
 Pension PlansPost-Retirement Healthcare Plan
 202020192018202020192018
Service cost$— $— $— $139 $107 123 
Interest cost27,880 31,299 29,135 91 148 127 
Expected return on plan assets(44,673)(37,907)(42,093)— — — 
Curtailments and settlements(424)— — (17)— — 
Amortization of prior service cost— — — — — — 
Amortization of net (gain) loss3,763 15,528 3,547 124 172 219 
Net periodic benefit cost (income)$(13,454)$8,920 $(9,411)$337 $427 $469 
Schedule of Net Periodic Benefit Cost Not yet Recognized
The pre-tax amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit expense at December 31 are as follows (in thousands):
 Pension PlansPost-Retirement
Healthcare Plans
 2020201920202019
Unrecognized prior service cost$— $— $— $— 
Unrecognized net actuarial loss111,820 89,871 833 1,031 
Accumulated other comprehensive loss$111,820 $89,871 $833 $1,031 
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year The amounts of unrecognized net actuarial loss recorded in accumulated other comprehensive loss that is expected to be recognized as components of net periodic benefit expense during 2021 is $7.1 million and $0.2 million for the pension plans and the post-retirement healthcare plans, respectively.
Schedule of Assumptions Used
Assumptions used in determining the funded status of ABX’s pension plans at December 31 were as follows:
 
 Pension Plans
 202020192018
Discount rate - crewmembers2.55%3.65%4.65%
Discount rate - non-crewmembers2.75%3.70%4.65%
Expected return on plan assets5.75%6.10%6.20%
Schedule of Allocation of Plan Assets
The weighted-average asset allocations by asset category are as shown below:
 
 Composition of Plan Assets
as of December 31
Asset category20202019
Cash1 %— %
Equity securities30 %26 %
Fixed income securities69 %74 %
100 %100 %
The pension plan assets measured at fair value on a recurring basis were as follows (in thousands):
As of December 31, 2020Fair Value Measurement UsingTotal
 Level 1Level 2
Plan assets
Common trust funds$— $5,055 $5,055 
Corporate stock19,852 501 20,353 
Mutual funds— 237,063 237,063 
Fixed income investments545 580,476 581,021 
Benefit Plan Assets$20,397 $823,095 $843,492 
Investments measured at net asset value ("NAV")403 
Total benefit plan assets$843,895 
As of December 31, 2019Fair Value Measurement UsingTotal
 Level 1Level 2
Plan assets
Common trust funds$— $3,467 $3,467 
Corporate stock14,553 442 14,995 
Mutual funds59,710 117,067 176,777 
Fixed income investments— 549,441 549,441 
Benefit Plan Assets$74,263 $670,417 $744,680 
Investments measured at net asset value ("NAV")2,083 
Total benefit plan assets$746,763 
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
2021$38,035 $415 
202241,229 462 
202343,907 512 
202445,804 499 
202547,565 467 
Years 2026 to 2030242,354 1,390 
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 ValueRedemption FrequencyRedemption Notice PeriodUnfunded Commitments
As of December 31, 2020
Hedge Funds & Private Equity$403 (1) (2)90 days$— 
Real Estate— (3)90 days— 
Total investments measured at NAV$403 $— 
As of December 31, 2019
Hedge Funds & Private Equity$2,083 (1) (2)90 days$— 
Real Estate— (3)90 days— 
Total investments measured at NAV$2,083 $—