XML 134 R99.htm IDEA: XBRL DOCUMENT v3.10.0.1
Retirement plans and postretirement benefits (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2018
Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Amounts Recognized In Other Comprehensive Income Retirement Plans  

 

 

The mark-to-market gain in 2017 was the result of better than expected returns on assets, partially offset by an unfavorable change to the discount rate. The mark-to-market gain in 2016 was the result of better than expected returns on plan assets and favorable changes to the mortality tables, partially offset by unfavorable changes to the discount rate.

Reconciliation Of Pension Plans' Benefit Obligations, Fair Value Of Assets Retirement Plans  

                                                                                                                                                                                                           

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

As of December 31,
2017

 

As of December 31,
2016

 

 

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

​  

 

​  

 

​  

 

​  

 

​  

 

 

(Dollars in thousands)

 

Changes in Benefit Obligation:

 

 

 

 

 

 

 

 

 

Net Benefit Obligation at beginning of period

 

$

140,230

 

$

18,237

 

$

142,126

 

$

18,271

 

Service cost

 

1,305

 

710

 

1,325

 

698

 

Interest cost

 

5,352

 

199

 

5,744

 

243

 

Participant contributions

 

 

252

 

 

256

 

Plan amendments / curtailments

 

 

 

 

(122

)

Foreign currency exchange changes

 

 

1,069

 

 

(527

)

Actuarial loss (gain)

 

3,212

 

63

 

1,293

 

(18

)

Benefits paid

 

(10,353

)

(123

)

(10,258

)

(564

)

​  

​  

​  

​  

​  

​  

​  

Net benefit obligation at end of period

 

$

139,746

 

$

20,407

 

$

140,230

 

$

18,237

 

​  

​  

​  

​  

​  

​  

​  

Changes in Plan Assets:

 

 

 

 

 

 

 

 

 

Fair value of plan assets at beginning of period

 

$

100,905

 

$

11,871

 

$

93,897

 

$

11,293

 

Actual return on plan assets

 

12,620

 

415

 

8,556

 

378

 

Foreign currency exchange rate changes

 

 

545

 

 

(346

)

Employer contributions

 

6,673

 

658

 

8,710

 

854

 

Participant contributions

 

 

252

 

 

256

 

​  

​  

​  

​  

​  

​  

​  

Benefits paid

 

(10,353

)

(123

)

(10,258

)

(564

)

​  

​  

​  

​  

​  

​  

​  

Fair value of plan assets at end of period

 

$

109,845

 

$

13,618

 

$

100,905

 

$

11,871

 

​  

​  

​  

​  

​  

​  

​  

Funded status (underfunded):

 

$

(29,901

)

$

(6,789

)

$

(39,325

)

$

(6,366

)

​  

​  

​  

​  

​  

​  

​  

Amounts recognized in accumulated other comprehensive loss:

 

 

 

 

 

 

 

 

 

Prior service credit

 

$

 

$

 

$

 

$

 

​  

​  

​  

​  

​  

​  

​  

Amounts recognized in the statement of financial position:

 

 

 

 

 

 

 

 

 

Non-current assets

 

$

 

$

 

$

 

$

 

Current liabilities

 

(433

)

(146

)

(435

)

(128

)

Non-current liabilities

 

(29,468

)

(6,643

)

(38,890

)

(6,238

)

Net amount recognized

 

$

(29,901

)

$

(6,789

)

$

(39,325

)

$

(6,366

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Fair Asset Values Of Plan Assets  

 

The fair value of the plan assets by category is summarized below (dollars in thousands):

                                                                                                                                                                                                            

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

As of December 31, 2017

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

​  

 

​  

 

​  

 

​  

 

​  

U.S. Plan Assets

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

2,094

 

$

 

$

 

$

2,094

 

Collective trusts

 

 

107,751

 

 

107,751

 

​  

​  

​  

​  

​  

​  

​  

Total

 

$

2,094

 

$

107,751

 

$

 

$

109,845

 

International Plan Assets

 


 

 


 

 


 

 


 

 

Foreign government bonds

 

$

 

$

831

 

$

 

$

831

 

Fixed insurance contracts

 

 

 

12,787

 

12,787

 

​  

​  

​  

​  

​  

​  

​  

Total

 

$

 

$

831

 

$

12,787

 

$

13,618

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

As of December 31, 2016

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

​  

 

​  

 

​  

 

​  

 

​  

U.S. Plan Assets

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

1,502

 

$

 

$

 

$

1,502

 

Collective trusts

 

 

99,403

 

 

99,403

 

​  

​  

​  

​  

​  

​  

​  

Total

 

$

1,502

 

$

99,403

 

$

 

$

100,905

 

International Plan Assets

 


 

 


 

 


 

 


 

 

Foreign government bonds

 

$

 

$

729

 

$

 

$

729

 

Fixed insurance contracts

 

 

 

11,142

 

11,142

 

​  

​  

​  

​  

​  

​  

​  

Total

 

$

 

$

729

 

$

11,142

 

$

11,871

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Fair Value Hierarchy, Assets At Fair Value  

 

The following table presents the changes for those financial instruments classified within Level 3 of the valuation hierarchy for international plan pension assets for the years ended December 31, 2016 and 2017 (dollars in thousands):

                                                                                                                                                                                                                   

 

 

 

 

​  

​  

​  

 

 

Fixed
insurance
contracts

 

​  

 

​  

Balance at December 31, 2015

 

$

10,453

 

Gain / contributions / currency impact

 

707

 

Distributions

 

(18

)

​  

Balance at December 31, 2016

 

11,142

 

Gain / contributions / currency impact

 

1,651

 

Distributions

 

(6

)

​  

Balance at December 31, 2017

 

$

12,787

 

​  

​  

​  

 

Retirement Plan Weighted Average Asset Allocations  

                                                                                                                                                                                                               

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

 

 

Percentage of
plan assets
as of
December 31,
2017

 

​  

​  

 

​  

​  

 

 

US

 

Foreign

 

​  

 

​  

​  

 

​  

​  

Equity securities and return seeking assets

 

 

20%

 

 

—%

 

Fixed income, debt securities, or cash

 

 

80%

 

 

100%

 

​  

​  

​  

​  

​  

Total

 

 

100%

 

 

100%

 

​  

​  

​  

​  

​  

​  

​  

 

Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets  

                                                                                                                                                                                                              

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

2017

 

2016

 

​  

​  

 

​  

​  

​  

​  

 

​  

​  

 

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

 

 

(Dollars in thousands)

 

Accumulated benefit obligation

 

$

139,746

 

$

18,843

 

$

140,230

 

$

16,057

 

Fair value of plan assets

 

 

109,845

 

 

13,618

 

 

100,905

 

 

11,142

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Pension Plans With Projected Benefit Obligation In Excess Of Plan Assets  

 

                                                                                                                                                                                                         

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

2017

 

2016

 

​  

​  

 

​  

​  

​  

​  

 

​  

​  

 

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

 

 

(Dollars in thousands)

 

Projected benefit obligation

 

$

139,746

 

$

20,407

 

$

140,230

 

$

17,415

 

Fair value of plan assets

 

 

109,845

 

 

13,618

 

 

100,905

 

 

11,142

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Projected Future Pension Plan Cash Flow By Year  

                                                                                                                                                                                                            

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

 

 

U.S.

 

Foreign

 

​  

 

​  

​  

 

​  

​  

 

 

 

(Dollars in thousands)

 

Expected contributions in 2018:

 

 

 

 

 

 

 

Expected employer contributions

 

$

4,542

 

$

558

 

Expected employee contributions

 

 

 

 

 

Estimated future benefit payments reflecting expected future service for the years ending December 31:

 

 

 

 

 

 

 

2018

 

 

9,086

 

 

864

 

2019

 

 

9,053

 

 

751

 

2020

 

 

9,083

 

 

743

 

2021

 

 

9,116

 

 

778

 

2022

 

 

9,103

 

 

771

 

2023 - 2027

 

 

44,783

 

 

6,285

 

​  

​  

​  

​  

​  

​  

​  

 

Fair Value Of Assets Of, And The Funded Status Of, Postretirement Plans  

                                                                                                                                                                                                             

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

As of
December 31, 2017

 

As of
December 31, 2016

 

Postretirement benefits

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

 

(Dollars in thousands)

 

Changes in Benefit Obligation:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net benefit obligation at beginning of period

 

$

10,175

 

$

10,700

 

$

10,859

 

$

11,296

 

Service cost

 

 

 

 

2

 

 

 

 

4

 

Interest cost

 

 

333

 

 

653

 

 

360

 

 

764

 

Foreign currency exchange rates

 

 

 

 

931

 

 

 

 

709

 

Actuarial loss (gain)

 

 

(1,257

)

 

742

 

 

(191

)

 

(225

)

Gross benefits paid

 

 

(790

)

 

(856

)

 

(853

)

 

(855

)

Plan amendment

 

 

 

 

 

 

 

 

(993

)

Net benefit obligation at end of period

 

$

8,461

 

$

12,172

 

$

10,175

 

$

10,700

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Changes in Plan Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets at beginning of period

 

$

 

$

 

$

 

$

 

Employer contributions

 

 

790

 

 

856

 

 

853

 

 

855

 

Gross benefits paid

 

 

(790

)

 

(856

)

 

(853

)

 

(855

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Fair value of plan assets at end of period

 

$

 

$

 

$

 

$

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Funded status:

 

$

(8,461

)

$

(12,172

)

$

(10,175

)

$

(10,700

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Amounts recognized in accumulated other comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service credit

 

$

 

$

 

$

 

$

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Amounts recognized in the statement of financial position:

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

$

(855

)

$

(912

)

$

(1,134

)

$

(738

)

Non-current liabilities

 

 

(7,606

)

 

(11,260

)

 

(9,041

)

 

(9,962

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net amount recognized

 

$

(8,461

)

$

(12,172

)

$

(10,175

)

$

(10,700

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Assumptions Used To Determine Net Pension Costs And Projected Benefit Obligations  

 

                                                                                                                                                                                                                  

 

 

 

 

 

 

​  

​  

​  

​  

​  

 

 

As of
December 31,

 

​  

 

​  

 

 

2017

 

2016

 

​  

 

​  

 

​  

Pension Benefit Obligations Key Assumptions

 

 

 

 

 

Weighted average assumptions to determine benefit obligations:

 

 

 

 

 

Discount rate              

 

3.20%

 

3.61%

 

Rate of compensation increase

 

1.57%

 

1.57%

 

Pension Cost Key Assumptions

 


 

 


 

 

Weighted average assumptions to determine net cost:

 

 

 

 

 

Discount rate              

 

3.61%

 

3.86%

 

Expected return on plan assets

 

4.95%

 

4.97%

 

Rate of compensation increase

 

1.57%

 

1.84%

 

​  

​  

​  

​  

​  

 

Postretirement benefit obligations

                                                                                                                                                                                    

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

 

 

2017

 

2016

 

​  

 

​  

​  

 

​  

​  

Weighted average assumptions to determine benefit obligations:

 

 

 

 

 

 

 

Discount rate

 

 

5.07%

 

 

4.80%

 

Health care cost trend on covered charges:

 

 

 

 

 

 

 

Initial

 

 

6.86%

 

 

6.80%

 

Ultimate

 

 

6.23%

 

 

5.96%

 

Years to ultimate

 

 

8

 

 

8

 

​  

​  

​  

​  

​  

​  

​  

Postretirement benefit costs

                                                                                                                                                                                    

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

 

 

2017

 

2016

 

​  

 

​  

​  

 

​  

​  

Weighted average assumptions to determine net cost:

 

 

 

 

 

 

 

Discount rate

 

 

4.80%

 

 

5.10%

 

Health care cost trend on covered charges:

 

 

 

 

 

 

 

Initial

 

 

6.80%

 

 

6.67%

 

Ultimate

 

 

5.96%

 

 

6.48%

 

Years to ultimate

 

 

7

 

 

1

 

​  

​  

​  

​  

​  

​  

​  

 

One-Percentage Point Change In Assumed Health Care Cost Trend Rates  

A one-percentage point change in assumed health care cost trend rates would have the following effects at December 31, 2017:

                                                                                                                                                                                                                 

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

One
percentage
point
increase

 

One
percentage
point
decrease

 

 

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

 

(Dollars in thousands)

 

Effect on total service cost and interest cost components

 

$

2

 

$

60

 

$

(2

)

$

(50

)

Effect on benefit obligations

 

$

28

 

$

639

 

$

(27

)

$

(546

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Projected Future Postretirement Cash Flow By Year  

                                                                                                                                                                                                                     

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

 

 

U.S.

 

Foreign

 

​  

 

​  

​  

 

​  

​  

 

 

(Dollars in thousands)

 

Expected contributions in 2018:

 

 

 

 

 

 

 

Expected employer contributions

 

$

855

 

$

912

 

Expected employee contributions

 

 

 

 

 

Estimated future benefit payments reflecting expected future service for the years ending December 31:

 

 

 

 

 

 

 

2018

 

 

855

 

 

912

 

2019

 

 

800

 

 

907

 

2020

 

 

740

 

 

909

 

2021

 

 

678

 

 

900

 

2022

 

 

622

 

 

885

 

2020 - 2024

 

 

2,415

 

 

4,518

 

​  

​  

​  

​  

​  

​  

​  

 

Pension Costs    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Schedule Of Benefit Plans

The components of our consolidated net pension costs are set forth in the following table:

                                                                                                                                                                                    

 
   
   
 

 

    For the six months
ended June 30,
 
 
  2018
  2017
 

(Dollars in thousands)

 

Service cost

  $ 996   $ 992  

Interest cost

    2,482     2,769  

Expected return on plan assets

    (3,004 )   (2,777 )

Net cost

  $ 474   $ 984  

                                                                                                                                                                                                                  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

Successor

 

 

 

2017

 

2016

 

For the period
August 15
through
December 31,
2015

 

 

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

​  

 

​  

 

​  

 

​  

 

​  

 

​  

 

​  

 

 

 

 

 

 

(Dollars in thousands)

 

Service cost

 

$

1,305

 

$

710

 

$

1,325

 

$

698

 

$

386

 

$

281

 

Interest cost

 

5,352

 

199

 

5,744

 

243

 

2,200

 

94

 

Expected return on assets

 

(5,268

)

(299

)

(4,940

)

(298

)

(1,885

)

(59

)

Curtailment gain

 

 

 

 

 

 

(675

)

Mark-to-market loss (gain)

 

(4,140

)

(53

)

(2,322

)

(220

)

716

 

1,843

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Pension costs

 

$

(2,751

)

$

557

 

$

(193

)

$

423

 

$

1,417

 

$

1,484

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                                            

 

 

 

 

 

 

​  

​  

​  

​  

​  

 

 

Predecessor

 

 

 

For the period
January 1
through
August 14,
2015

 

 

 

U.S.

 

Foreign

 

​  

 

​  

 

​  

Service cost

 

$

151

 

$

98

 

Interest cost

 

854

 

554

 

Amortization of prior service cost

 

 

(12

)

​  

​  

​  

Pension costs

 

$

1,005

 

$

640

 

​  

​  

​  

​  

​  

 

Postretirement Costs    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Schedule Of Benefit Plans

The components of our consolidated net postretirement costs are set forth in the following table:

                                                                                                                                                                                    

 
   
   
 

For the six months
ended June 30,

 
 
  2018
  2017
 

(Dollars in thousands)

 

Service cost

  $   $ 1  

Interest cost

    502     483  

Net cost

  $ 502   $ 484  

                                                                                                                                                                                                          

 

 

 

 

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

 

 

Successor

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the period
August 15 through

 

 

 

 

2017

 

 

2016

 

 

December 31, 2015

 

​  

​  

 

​  

​  

​  

​  

 

​  

​  

​  

​  

 

​  

​  

 

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

U.S.

 

Foreign

 

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

​  

​  

 

 

 

(Dollars in thousands)

 

Service cost

 

$

 

$

2

 

$

 

$

4

 

 

 

$

5

 

Interest cost

 

 

333

 

 

653

 

 

360

 

 

764

 

 

142

 

 

289

 

Plan amendment / curtailment

 

 

 

 

 

 

 

 

(993

)

 

 

 

 

Mark-to-market (gain) loss

 

 

(1,257

)

 

742

 

 

(191

)

 

(225

)

 

(100

)

 

(621

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Post-employment benefits cost (benefit)

 

$

(924

)

$

1,397

 

$

169

 

$

(450

)

$

42

 

$

(327

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

 

 

 

 

 

 

​  

​  

​  

​  

​  

 

 

Successor

 

​  

 

​  

 

 

For the period
January 1 through
August 14, 2015

 

​  

 

​  

 

 

U.S.

 

Foreign

 

​  

 

​  

 

​  

 

 

(Dollars in thousands)

 

Service cost

 

$

 

$

9

 

Interest cost

 

223

 

433

 

Plan amendment / curtailment

 

 

 

Mark-to-market (gain) loss

 

 

 

​  

​  

​  

Post-employment benefits cost (benefit)

 

$

223

 

$

442

 

​  

​  

​  

​  

​