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RETIREMENT AND DEFERRED COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2013
RETIREMENT AND DEFERRED COMPENSATION PLANS  
Change in the projected benefit obligation, plan assets at fair value and funded status
   
 
       
    
    
    
  
 
   Domestic Plans   Foreign Plans  
 
   2013
   2012
   2013
   2012
  

Change in benefit obligation:

                          

Benefit obligation at beginning of year

   $ 136,321   $ 111,947   $ 80,610   $ 48,754  

Service cost

     8,539     7,217     3,901     2,244  

Interest cost

     4,992     4,913     2,676     2,658  

Business acquired

     —     —     —     9,148  

Curtailment/Settlement

     —     —     (1,342 )   —  

Actuarial (gain) loss

     (14,260 )   18,743     (1,752 )   17,905  

Benefits paid

     (6,144 )   (6,499 )   (2,952 )   (2,075 )

Foreign currency translation adjustment

     —     —     3,519     1,976  
               

Benefit obligation at end of year

   $ 129,448   $ 136,321   $ 84,660   $ 80,610  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​


 

 
   Domestic Plans   Foreign Plans  
 
   2013
   2012
   2013
   2012
  

Change in plan assets:

                          

Fair value of plan assets at beginning of year

   $ 84,587   $ 68,537   $ 47,876   $ 39,835  

Actual return on plan assets

     12,063     8,342     1,742     1,547  

Employer contribution

     10,061     14,207     5,419     7,381  

Business acquired

     —     —     —     389  

Benefits paid

     (6,144 )   (6,499 )   (2,952 )   (2,075 )

Foreign currency translation adjustment

     —     —     1,990     799  
               

Fair value of plan assets at end of year

   $ 100,567   $ 84,587   $ 54,075   $ 47,876  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Funded status at end of year

   $ (28,881 ) $ (51,734 ) $ (30,585 ) $ (32,734 )
Schedule of funded status amounts recognized in the Consolidated Balance Sheet
 
   Domestic Plans   Foreign Plans  
 
   2013
   2012
   2013
   2012
  

Current liabilities

   $ (809 ) $ (369 ) $ —   $ (1,187 )

Non-current liabilities

     (28,072 )   (51,365 )   (30,585 )   (31,547 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ (28,881 ) $ (51,734 ) $ (30,585 ) $ (32,734 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of amounts not recognized as components of periodic benefit cost that are recognized in accumulated other comprehensive loss
 
   Domestic Plans   Foreign Plans  
 
   2013
   2012
   2013
   2012
  

Net actuarial loss

   $ 32,930   $ 58,580   $ 24,844   $ 29,265  

Net prior service cost

     —     3     3,784     4,157  

Tax effects

     (12,349 )   (21,969 )   (9,116 )   (10,788 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 20,581   $ 36,614   $ 19,512   $ 22,634  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of changes in benefit obligations and plan assets recognized in other comprehensive income

  Domestic Plans   Foreign Plans  

Current year actuarial gain

   $ 20,548   $ 3,005  

Amortization of net loss

     5,103     1,416  

Amortization of prior service cost

     3     373  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 25,654   $ 4,794  
           
​ ​ ​ ​ ​ ​ ​ ​
Schedule of amounts in accumulated other comprehensive loss expected to be recognized as components of periodic benefit cost in 2014

The following table presents the amounts in accumulated other comprehensive loss as of December 31, 2013 expected to be recognized as components of periodic benefit cost in 2014.

 
   Domestic Plans   Foreign Plans  

Amortization of net loss

   $ 2,787   $ 1,255  

Amortization of prior service cost

     —     324  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 2,787   $ 1,579  
           
​ ​ ​ ​ ​ ​ ​ ​
Components of Net Periodic Benefit Cost
   
 
       
    
    
  
 
   Domestic Plans  
 
   2013
   2012
   2011
  

Service cost

   $ 8,539   $ 7,217   $ 5,436  

Interest cost

     4,992     4,913     4,504  

Expected return on plan assets

     (5,775 )   (5,604 )   (4,790 )

Amortization of net loss

     5,103     3,854     1,652  

Amortization of prior service cost

     3     4     4  
           

Net periodic benefit cost

   $ 12,862   $ 10,384   $ 6,806  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Curtailment

     —     —     —  

Total Net periodic benefit cost

   $ 12,862   $ 10,384   $ 6,806  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​


 

 
   Foreign Plans  
 
   2013
   2012
   2011
  

Service cost

   $ 3,901   $ 2,244   $ 2,018  

Interest cost

     2,676     2,658     2,518  

Expected return on plan assets

     (1,821 )   (1,538 )   (1,753 )

Amortization of net loss

     1,416     475     836  

Amortization of prior service cost

     373     361     455  
           

Net periodic benefit cost

   $ 6,545   $ 4,200   $ 4,074  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Curtailment

     1     —     —  

Total Net periodic benefit cost

   $ 6,546   $ 4,200   $ 4,074  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of projected benefit obligation ("PBO"), ABO, and fair value of plan assets for all pension plans with an ABO in excess of plan assets

  Domestic Plans   Foreign Plans  
 
   2013
   2012
   2013
   2012
  

Projected benefit obligation

   $ 129,448   $ 136,321   $ 77,475   $ 77,663  

Accumulated benefit obligation

     114,592     118,804     60,707     60,703  

Fair value of plan assets

     100,567     84,587     47,753     44,930  
Schedule of PBO, ABO, and fair value of plan assets for all pension plans with a PBO in excess of plan assets

  Domestic Plans   Foreign Plans  
 
   2013
   2012
   2013
   2012
  

Projected benefit obligation

   $ 129,448   $ 136,321   $ 81,158   $ 77,663  

Accumulated benefit obligation

     114,592     118,804     63,527     60,703  

Fair value of plan assets

     100,567     84,587     50,573     44,930  
Schedule of weighted-average assumptions used to determine benefit obligations and net periodic benefit cost
 
   Domestic Plans   Foreign Plans  
 
   2013
   2012
   2011
   2013
   2012
   2011
  
 
  

Weighted-average assumptions used to determine benefit obligations at December 31:

                                      

Discount rate

     4.75%     3.80%     N/A     3.24%     3.19%     N/A  

Rate of compensation increase

     4.00%     4.00%     N/A     3.00%     3.00%     N/A  

Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31:

    
 		    
 		    
 		    
 		    
 		    
 		  

Discount rate

     3.80%     4.40%     5.40%     3.19%     5.10%     5.15%  

Expected long-term return on plan assets

     7.00%     7.00%     7.00%     3.79%     3.83%     4.40%  

Rate of compensation increase

     4.00%     4.00%     4.00%     3.00%     3.00%     3.00%  
Schedule of domestic and foreign pension plan weighted-average asset allocations by asset category
    
  
 
   Domestic Plans Assets
at December 31,		   Foreign Plans Assets
at December 31,		  
 
   2013
   2012
   2013
   2012
  
 
       
    
    
    
  

Equity securities

     59%     60%     5%     1%  

Fixed income securities

     24%     30%     16%     6%  

Infrastructure

     8%     10%     —     —  

Money market

     9%     —     1%     12%  

Investment Funds

     —     —     78%     81%  
               

Total

     100%     100%     100%     100%  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of fair value of pension plan assets

 

 
   Domestic Fair Value Measurement
at December 31, 2013		   Foreign Fair Value Measurement
at December 31, 2013		  
(In Thousands $)
   Total
   (Level 1)
   (Level 2)
   (Level 3)
   Total
   (Level 1)
   (Level 2)
   (Level 3)
  

Cash and Short Term Securities (a)

   $ 9,070   $ 9,070   $ —   $ —   $ 757   $ 757   $ —   $ —  

USD

     —     9,070     —     —     —     —     —     —  

EUR

     —     —     —     —     —     757     —     —  

Equity Securities (a)

   $ 49,261   $ 49,261     —     —   $ 2,547   $ 2,547     —     —  

US Large Cap Equities

     —     20,159     —     —     —     —     —     —  

US Small Cap Equities

     —     14,521     —     —     —     —     —     —  

International Equities

     —     14,581     —     —     —     2,547     —     —  

Core Fixed Income (a)

   $ 23,918   $ 23,918     —     —     1,950     1,950     —     —  

Corporate debts securities

     —     —     —     —   $ 6,560   $ 6,560     —     —  

Euro Corporate Bonds (a)

     —     —     —     —     —     6,560     —     —  

Hedge Fund (c)

   $ 9,731     —     —   $ 9,731     —     —     —     —  

Investment Funds

     —     —     —     —   $ 42,261   $ 15,501   $ 26,760     —  

Mutual Funds in Equities (a)

     —     —     —     —     —     3,628     —     —  

Mutual Funds in Bonds (a)

     —     —     —     —     —     10,040     —     —  

Mutual Funds Diversified (a &b)

     —     —     —     —     —     1,833     26,760     —  

Infrastructure (c)

   $ 8,587     —     —   $ 8,587     —     —     —     —  
                               

Total Investments

   $ 100,567   $ 82,249   $ —   $ 18,318   $ 54,075   $ 27,315   $ 26,760   $ —  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​


 

 
   Domestic Fair Value Measurement
at December 31, 2012		   Foreign Fair Value Measurement
at December 31, 2012		  
(In Thousands $)
   Total
   (Level 1)
   (Level 2)
   (Level 3)
   Total
   (Level 1)
   (Level 2)
   (Level 3)
  

Cash and Short Term Securities (a)

   $ 887   $ 887   $ —   $ —   $ 5,560   $ 5,560   $ —   $ —  

USD

     —     887     —     —     —     —     —     —  

EUR

     —     —     —     —     —     5,560     —     —  

Equity Securities (a)

   $ 42,523   $ 42,523     —     —   $ 655   $ 655     —     —  

US Large Cap Equities

     —     17,142     —     —     —     —     —     —  

US Small Cap Equities

     —     12,523     —     —     —     —     —     —  

International Equities

     —     12,858     —     —     —     655     —     —  

Core Fixed Income (a)

   $ 24,587   $ 24,587     —     —   $ 728     728     —     —  

Corporate debts securities

     —     —     —     —   $ 2,084   $ 2,084     —     —  

Euro Corporate Bonds (a)

     —     —     —     —     —     2,084     —     —  

Hedge Fund (c)

   $ 8,575     —     —   $ 8,575     —     —     —     —  

Investment Funds

     —     —     —     —   $ 38,849   $ 17,622   $ 21,227     —  

Mutual Funds in Equities (a)

     —     —     —     —     —     5,873     —     —  

Mutual Funds in Bonds (a)

     —     —     —     —     —     2,458     —     —  

Mutual Funds Diversified (a &b)

     —     —     —     —     —     9,291     21,227     —  

Infrastructure (c)

   $ 8,015     —     —   $ 8,015     —     —     —     —  
                               

Total Investments

   $ 84,587   $ 67,997   $ —   $ 16,590   $ 47,876   $ 26,649   $ 21,227   $ —  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(a)
Based on third party quotation from financial institution.
(b)
Based on observable market transactions.
(c)
Based on a quarterly statement prepared by the fund manager that reflects contributions, distributions and realized/unrealized gains and losses.
Summary of changes in fair value of pension plan investments classified as Level 3
 
   Infrastructure Fund
   Hedge Fund
  
   
  
 

Balance, 12/31/11

   $ 5,670   $ 7,497  
 

Purchases, sales and settlements, net

     1,800     1,000  
 

Return on assets held

     696     78  
 

Admin fees and other

     (151 )   —  
             
  ​ ​ ​ ​ ​ ​ ​ ​
 

Balance, 12/31/12

   $ 8,015   $ 8,575  
             
  ​ ​ ​ ​ ​ ​ ​ ​
 

Return on assets held

     725     1,156  
 

Admin fees and other

     (153 )   —  
             
  ​ ​ ​ ​ ​ ​ ​ ​
 

Balance, 12/31/13

   $ 8,587   $ 9,731  
             
  ​ ​ ​ ​ ​ ​ ​ ​
Schedule of estimated benefit payments relating to defined benefit plans over the next ten years

As of December 31, 2013, the Company expects the plans to make the following estimated benefit payments relating to its defined benefit plans over the next ten years:

   
 
       
    
  
 
   Domestic Plans
   Foreign Plans
  

2014

   $ 7,579   $ 2,529  

2015

     7,351     2,133  

2016

     7,744     2,678  

2017

     10,174     3,146  

2018

     9,569     3,825  

2019 – 2023

     55,864     24,731