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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Benefit Cost
The components of net periodic benefit cost include the following:
 
2017
 
2016
 
2015
Retirement Plans
 
 
 
 
 
Service cost
$
18,543

 
$
19,508

 
$
23,366

Interest cost
55,873

 
59,719

 
70,797

Expected return on plan assets
(81,212
)
 
(85,466
)
 
(94,307
)
Amortization of net transition obligation
—

 
—

 
65

Amortization of prior service cost
910

 
809

 
745

Amortization of net actuarial loss
39,209

 
39,009

 
42,584

Effect of settlement loss
32,761

 
—

 
—

Other
—

 
—

 
49

Net periodic benefit cost
$
66,084

 
$
33,579

 
$
43,299

Retiree Health and Life Insurance Plans
 
 
 
 
 
Service cost
$
313

 
$
309

 
$
711

Interest cost
463

 
482

 
766

Expected return on plan assets
(1,636
)
 
(1,579
)
 
(1,661
)
Amortization of prior service credit
(499
)
 
(498
)
 
(104
)
Amortization of net actuarial gain
(759
)
 
(667
)
 
(673
)
Net periodic benefit income
$
(2,118
)
 
$
(1,953
)
 
$
(961
)
Plans' Obligations and Assets
The following tables set forth the Plans’ obligations and assets at December 31:
 
Retirement Plans
 
Retiree Health
and
Life Insurance Plans
  
2017
 
2016
 
2017
 
2016
Change in Benefit Obligation
 
 
 
 
 
 
 
Benefit obligation at January 1
$
1,777,424

 
$
1,733,596

 
$
17,568

 
$
19,053

Service cost
18,543

 
19,508

 
313

 
309

Interest cost
55,873

 
59,719

 
463

 
482

Plan participant contributions
391

 
439

 
744

 
888

Plan amendments
639

 
812

 
—

 
—

Actuarial loss/(gain)
99,402

 
93,772

 
(1,249
)
 
(1,223
)
Benefits paid
(81,547
)
 
(89,455
)
 
(2,183
)
 
(1,956
)
Impact of foreign exchange rates
29,753

 
(40,856
)
 
35

 
15

Other
—

 
(111
)
 
—

 
—

Benefit obligation at December 31
$
1,837,938

 
$
1,777,424

 
$
15,691

 
$
17,568
Fair Value of Plan Assets
 
Retirement Plans
 
Retiree Health and
Life Insurance Plans
  
2017
 
2016
 
2017
 
2016
Change in Plan Assets
 
 
 
 
 
 
 
Fair value of plan assets at January 1
$
1,325,389

 
$
1,298,186

 
$
23,848

 
$
22,250

Actual return on plan assets
198,071

 
130,717

 
3,986

 
1,872

Company contributions
93,662

 
32,504

 
851

 
860

Plan participant contributions
443

 
439

 
744

 
888

Benefits paid
(81,547
)
 
(89,455
)
 
(2,183
)
 
(1,956
)
Impact of foreign exchange rates
29,460

 
(39,147
)
 
—

 
—

Expenses paid
(8,225
)
 
(7,855
)
 
(69
)
 
(66
)
Fair value of plan assets at December 31
$
1,494,713

 
$
1,325,389

 
$
27,177

 
$
23,848

Funded Status of the Plans
$
(343,225
)
 
$
(452,035
)
 
$
11,486

 
$
6,280
Recognized Amounts in Consolidated Balance Sheets
 
Retirement Plans
 
Retiree Health and
Life Insurance Plans
  
2017
 
2016
 
2017
 
2016
Total Recognized Amounts in the Consolidated Balance Sheets
 
 
 
 
 
 
Noncurrent assets
$
24,380

 
$
3,863

 
$
12,851

 
$
7,506

Current liabilities
(13,220
)
 
(9,409
)
 
(820
)
 
(802
)
Noncurrent liabilities
(354,385
)
 
(446,489
)
 
(545
)
 
(424
)
Net (liability)/asset
$
(343,225
)
 
$
(452,035
)
 
$
11,486

 
$
6,280
Component of Net Periodic Pension Cost that are Included in Accumulated Other Comprehensive Loss (Income)
Items not yet recognized as a component of net periodic pension cost that are included in Accumulated Other Comprehensive Loss (Income) as of December 31, 2017 and 2016, are as follows:
 
Retirement Plans
 
Retiree Health and
Life Insurance Plans
  
2017
 
2016
 
2017
 
2016
Net actuarial loss/(gain)
$
625,831

 
$
708,533

 
$
(9,822
)
 
$
(7,056
)
Prior service cost/(credit)
3,780

 
4,051

 
(1,275
)
 
(1,774
)
 
$
629,611

 
$
712,584

 
$
(11,097
)
 
$
(8,830
)
Amounts Recognized in Other Comprehensive Loss/(Income)
The amounts recognized in Other Comprehensive Loss/(Income) include the following:
 
Retirement Plans
 
Retiree Health and
Life Insurance Plans
  
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Adjustments arising during the period:
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss/(gain)
$
(10,732
)
 
$
56,060

 
$
8,352

 
$
(3,525
)
 
$
(1,449
)
 
$
(4,129
)
Prior service cost/(credit)
639

 
1,069

 
513

 
—

 
—

 
(2,273
)
Net settlements/curtailments
(32,761
)
 
—

 
—

 
—

 
—

 
—

Reversal of amortization:
 
 
 
 
 
 
 
 
 
 
 
Net actuarial (loss)/gain
(39,209
)
 
(39,009
)
 
(42,584
)
 
759

 
667

 
673

Prior service (cost)/credit
(910
)
 
(809
)
 
(745
)
 
499

 
498

 
104

Net transition obligation
—

 
—

 
(65
)
 
—

 
—

 
—

Total recognized in other comprehensive loss/(income)
$
(82,973
)
 
$
17,311

 
$
(34,529
)
 
$
(2,267
)
 
$
(284
)
 
$
(5,625
)
Total recognized in net periodic benefit cost and other comprehensive loss/(income)
$
(16,889
)
 
$
50,890

 
$
8,770

 
$
(4,385
)
 
$
(2,237
)
 
$
(6,586
)
Accumulated Other Comprehensive Loss/(Income) Expects to Recognize as Components of Net Periodic Benefit Cost
Of the amounts included in Accumulated Other Comprehensive Loss/(Income) as of December 31, 2017, the portions the Company expects to recognize as components of net periodic benefit cost in 2018 are as follows:
 
Retirement
Plans
 
Retiree Health and
Life Insurance Plans
Net actuarial loss/(gain)
$
37,385

 
$
(960
)
Prior service cost/(credit)
972

 
(498
)
Net transition obligation
—

 
—

 
$
38,357

 
$
(1,458
)
Company's Projected Benefit Payments
The following table sets forth the Company’s projected benefit payments for the next ten years:
Year
Retirement Plans
 
Retiree Health and
Life Insurance Plans
2018
$
97,268

 
$
1,515

2019
$
93,487

 
$
1,498

2020
$
96,124

 
$
1,427

2021
$
94,688

 
$
1,403

2022
$
96,280

 
$
1,327

2022-2026
$
510,603

 
$
5,663
Major Actuarial Assumptions Used in Determining PBO, ABO and Net Periodic Cost
The following tables set forth the major actuarial assumptions used in determining the PBO, ABO and net periodic cost:
Weighted-average assumptions
used to determine benefit
obligations at December 31
U.S.
Retirement
Plans
 
U.S. Retiree
Health and
Life Insurance
Plans
 
Foreign Plans
Discount Rate
 
 
 
 
 
2017
3.59
%
 
3.36
%
 
2.78
%
2016
4.12
%
 
3.70
%
 
2.95
%
Rate of Compensation Increase
 
 
 
 
 
2017
3.40
%
 
3.28
%
 
3.62
%
2016
3.60
%
 
3.32
%
 
3.65
%
 
Weighted-average assumptions
used to determine net periodic benefit
cost for years ended December 31
U.S.
Retirement
Plans
 
U.S. Retiree
Health and
Life Insurance
Plans
 
Foreign
Plans
Discount Rate
 
 
 
 
 
2017
4.12
%
 
3.70
%
 
2.95
%
2016
4.36
%
 
3.78
%
 
3.71
%
2015
4.00
%
 
3.52
%
 
3.49
%
Expected Long-term Rate of Return
 
 
 
 
 
2017
6.86
%
 
6.98
%
 
4.52
%
2016
7.47
%
 
7.31
%
 
4.75
%
2015
7.67
%
 
7.39
%
 
4.92
%
Rate of Compensation Increase
 
 
 
 
 
2017
3.60
%
 
3.32
%
 
3.65
%
2016
3.69
%
 
3.36
%
 
3.52
%
2015
3.99
%
 
3.42
%
 
3.51
%
Health Care Cost Trend Rates Related to U.S. Plan
The U.S. Retiree Health and Life Insurance Plan makes up approximately 96% of the Retiree Health liability. Therefore, the following information relates to the U.S. plan only.
Healthcare Cost Trend Rate
Pre-age 65
 
Post-age 65
2017
6.75
%
 
6.75
%
2016
7.00
%
 
7.00
%
Ultimate Trend Rate
Pre-age 65
 
Post-age 65
2017
4.50
%
 
4.50
%
2016
4.80
%
 
4.80
%
Year at which the Rate Reaches
the Ultimate Trend Rate
Pre-age 65
 
Post-age 65
2017
2026

 
2026

2016
2059

 
2059
Retirement Plan  
Defined Benefit Plan Disclosure [Line Items]  
Weighted-Average Asset Allocations
The following table sets forth the weighted-average asset allocations of the Company’s retirement plans at December 31, 2017 and 2016, by asset category.
Asset Category
  
 
U.S.
 
U.K.
 
Canada
Equity securities
2017
 
51.7
%
 
44.7
%
 
71.7
%
2016
 
51.4
%
 
46.6
%
 
64.9
%
Debt securities
2017
 
37.1
%
 
54.7
%
 
27.9
%
2016
 
34.7
%
 
52.8
%
 
35.0
%
Alternative
2017
 
11.2
%
 
—
%
 
—
%
2016
 
13.9
%
 
—
%
 
—
%
Cash and short-term investments
2017
 
—
%
 
0.6
%
 
0.4
%
2016
 
—
%
 
0.6
%
 
0.1
%
Total
2017
 
100.0
%
 
100.0
%
 
100.0
%
2016
 
100.0
%
 
100.0
%
 
100.0
%
Retiree Health and Life Insurance Plans  
Defined Benefit Plan Disclosure [Line Items]  
Weighted-Average Asset Allocations
The following table sets forth the weighted-average asset allocations by asset category of the Company’s retiree health and life insurance plan.
Asset Category
December 31, 2017
 
December 31, 2016
Equity securities
63.6%
 
61.9%
Debt securities
30.8%
 
31.2%
Alternative
5.4%
 
6.8%
Cash
0.2%
 
0.1%
Total
100.0%
 
100.0%