Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Schedule of Net Funded Status

The accompanying balance sheets reflect the funded status of the Company’s defined benefit pension plans at December 31, 2018 and 2017, respectively. Reconciliations of the obligations and funded status of the plans follow:

	2018									2017
	U.S.			Non-U.S.			Total			U.S.			Non-U.S.			Total
Benefit obligation, January 1	$	415,369		$	82,741		$	498,110		$	389,613		$	104,339		$	493,952
Service cost	4,290			1,671			5,961			3,931			2,124			6,055
Interest cost	15,875			1,508			17,383			17,151			1,668			18,819
Amendments	—			826			826			1,233			27			1,260
Actuarial (gain) loss	(22,193		)	(2,256		)	(24,449		)	28,350			(4,397		)	23,953
Benefits paid	(25,007		)	(6,607		)	(31,614		)	(24,909		)	(4,240		)	(29,149		)
Transfers in	—			3,462			3,462			—			2,743			2,743
Plan curtailments	—			—			—			—			(7,030		)	(7,030		)
Plan settlements	—			—			—			—			(21,074		)	(21,074		)
Participant contributions	—			1,120			1,120			—			1,355			1,355
Foreign exchange rate changes	—			(3,158		)	(3,158		)	—			7,226			7,226
Benefit obligation, December 31	388,334			79,307			467,641			415,369			82,741			498,110
Fair value of plan assets, January 1	375,378			79,060			454,438			331,260			85,652			416,912
Actual return on plan assets	(30,681		)	(1,928		)	(32,609		)	56,131			6,150			62,281
Company contributions	2,925			1,807			4,732			12,896			2,027			14,923
Participant contributions	—			1,120			1,120			—			1,355			1,355
Benefits paid	(25,007		)	(6,607		)	(31,614		)	(24,909		)	(4,240		)	(29,149		)
Plan settlements	—			—			—			—			(20,857		)	(20,857		)
Transfers in	—			3,462			3,462			—			2,743			2,743
Foreign exchange rate changes	—			(3,307		)	(3,307		)	—			6,230			6,230
Fair value of plan assets, December 31	322,615			73,607			396,222			375,378			79,060			454,438
Underfunded status, December 31	$	(65,719	)	$	(5,700	)	$	(71,419	)	$	(39,991	)	$	(3,681	)	$	(43,672	)

The accompanying balance sheets reflect the underfunded status of the Company’s other postretirement benefit plans at December 31, 2018 and 2017. Reconciliations of the obligations and underfunded status of the plans follow:

	2018			2017
Benefit obligation, January 1	$	37,570		$	36,853
Service cost	85			83
Interest cost	1,358			1,561
Actuarial (gain) loss	(3,791		)	3,806
Benefits paid	(3,435		)	(7,251		)
Participant contributions	1,280			2,209
Foreign exchange rate changes	9			309
Benefit obligation, December 31	33,076			37,570
Fair value of plan assets, January 1	—			—
Company contributions	2,155			5,042
Participant contributions	1,280			2,209
Benefits paid	(3,435		)	(7,251		)
Fair value of plan assets, December 31	—			—
Underfunded status, December 31	$	33,076		$	37,570

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

Projected benefit obligations related to pension plans with benefit obligations in excess of plan assets follow:

	2018						2017
	U.S.		Non-U.S.		Total		U.S.		Non-U.S.		Total
Projected benefit obligation	$	388,334	$	42,000	$	430,334	$	311,320	$	40,931	$	352,251
Fair value of plan assets	322,615		28,595		351,210		267,087		26,205		293,292

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Information related to pension plans with accumulated benefit obligations in excess of plan assets follows:

	2018						2017
	U.S.		Non-U.S.		Total		U.S.		Non-U.S.		Total
Projected benefit obligation	$	388,334	$	42,000	$	430,334	$	40,572	$	40,931	$	81,503
Accumulated benefit obligation	378,285		41,946		420,231		40,090		40,877		80,967
Fair value of plan assets	322,615		28,595		351,210		4,797		26,205		31,002

Schedule of Amounts Recognized in Balance Sheet

Amounts related to other postretirement benefits recognized in the accompanying balance sheets consist of:

	2018			2017
Accrued liabilities	$	5,414		$	5,064
Accrued retirement benefits	27,662			32,506
Accumulated other non-owner changes to equity, net	(2,716		)	(5,838		)

Amounts related to pensions recognized in the accompanying balance sheets consist of:

	2018									2017
	U.S.			Non-U.S.			Total			U.S.			Non-U.S.			Total
Other assets	$	—		$	7,705		$	7,705		$	4,242		$	11,045		$	15,287
Accrued liabilities	2,826			378			3,204			2,823			407			3,230
Accrued retirement benefits	62,893			13,027			75,920			41,410			14,319			55,729
Accumulated other non-owner changes to equity, net	(121,927		)	(14,047		)	(135,974		)	(84,990		)	(13,016		)	(98,006		)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Amounts related to pensions recognized in accumulated other non-owner changes to equity, net of tax, at December 31, 2018 and 2017, respectively, consist of:

	2018									2017
	U.S.			Non-U.S.			Total			U.S.			Non-U.S.			Total
Net actuarial loss	$	(119,601	)	$	(13,637	)	$	(133,238	)	$	(82,736	)	$	(13,237	)	$	(95,973	)
Prior service costs	(2,326		)	(410		)	(2,736		)	(2,254		)	221			(2,033		)
	$	(121,927	)	$	(14,047	)	$	(135,974	)	$	(84,990	)	$	(13,016	)	$	(98,006	)

The sources of changes in accumulated other non-owner changes to equity, net, during 2018 were:

	Pension			Other Postretirement Benefits
Prior service cost	$	(669	)	$	—
Net (loss) gain	(29,108		)	3,800
Amortization of prior service costs	423			15
Amortization of actuarial loss	8,878			428
Foreign exchange rate changes	821			(14		)
Amounts reclassified from accumulated other comprehensive income to retained earnings (A)	(18,313		)	(1,107		)
	$	(37,968	)	$	3,122

(A) This amount represents the reclassification of stranded tax effects resulting from the Act, as permitted by amended guidance issued by the FASB in February 2018. See Note 1.

Amounts related to other postretirement benefits recognized in accumulated other non-owner changes to equity, net of tax, at December 31, 2018 and 2017 consist of:

	2018			2017
Net actuarial loss	$	(2,618	)	$	(5,746	)
Prior service loss	(98		)	(92		)
	$	(2,716	)	$	(5,838	)

Schedule of Assumptions Used, Benefit Obligation

Weighted-average assumptions used to determine benefit obligations as of December 31, are:

	2018		2017
U.S. plans:
Discount rate	4.40	%	3.90	%
Increase in compensation	2.56	%	2.56	%
Non-U.S. plans:
Discount rate	2.07	%	1.90	%
Increase in compensation	2.72	%	2.17	%

Schedule of Allocation of Plan Assets

The fair values of the Company’s pension plan assets at December 31, 2018 and 2017, by asset category are as follows:

			Fair Value Measurements Using
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2018
Cash and short-term investments	$	3,750	$	3,750	$	—	$	—
Equity securities:
U.S. large-cap	36,821		—		36,821		—
U.S. mid-cap	13,337		13,337		—		—
U.S. small-cap	13,244		13,244		—		—
International equities	123,084		—		123,084		—
Global equity	43,337		43,337		—		—
Fixed income securities:
U.S. bond funds	117,249		—		117,249		—
International bonds	42,920		—		42,920		—
Other	2,480		—		—		2,480
	$	396,222	$	73,668	$	320,074	$	2,480
December 31, 2017
Cash and short-term investments	10,731		10,731		—		—
Equity securities:
U.S. large-cap	46,786		—		46,786		—
U.S. mid-cap	15,576		15,576		—		—
U.S. small-cap	16,157		16,157		—		—
International equities	159,803		—		159,803		—
Global equity	51,945		51,945		—		—
Fixed income securities:
U.S. bond funds	109,033		—		109,033		—
International bonds	41,742		—		41,742		—
Other	2,665		—		—		2,665
	$	454,438	$	94,409	$	357,364	$	2,665

Schedule of Expected Benefit Payments

The following are the estimated future net benefit payments, which include future service, over the next 10 years:

	Pensions		Other Postretirement Benefits
2019	$	29,550	$	3,515
2020	29,414		3,332
2021	29,573		3,065
2022	29,224		2,892
2023	29,042		2,688
Years 2024-2028	144,754		11,093
Total	$	291,557	$	26,585

Schedule of Net Benefit Costs

Pension and other postretirement benefit costs consist of the following:

	Pensions									Other Postretirement Benefits
	2018			2017			2016			2018		2017			2016
Service cost	$	5,961		$	6,055		$	5,395		$	85	$	83		$	122
Interest cost	17,383			18,819			19,494			1,358		1,561			1,766
Expected return on plan assets	(29,900		)	(28,082		)	(30,302		)	—		—			—
Amortization of prior service cost (credit)	560			446			210			20		(68		)	(373		)
Recognized losses	11,628			10,557			10,791			561		276			535
Curtailment gain	—			(7,217		)	—			—		—			—
Settlement gain	—			(119		)	—			—		—			—
Net periodic benefit cost	$	5,632		$	459		$	5,588		$	2,024	$	1,852		$	2,050

Schedule of Assumptions Used, Net Benefit Expense

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

	2018		2017		2016
U.S. plans:
Discount rate	3.90	%	4.50	%	4.65	%
Long-term rate of return	7.75	%	7.75	%	8.25	%
Increase in compensation	2.56	%	2.56	%	3.71	%
Non-U.S. plans:
Discount rate	1.90	%	1.60	%	2.80	%
Long-term rate of return	4.09	%	3.59	%	4.73	%
Increase in compensation	2.17	%	2.29	%	2.71	%

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one percentage point change in the assumed health care cost trend rate would have the following effects:

	One Percentage Point Increase		One Percentage Point Decrease
Effect on postretirement benefit obligation	$	215	$	(200	)
Effect on postretirement benefit cost	9		(8		)

Schedule of Multiemployer Plans

Contributions related to the individually insignificant multi-employer plans, as disclosure is required pursuant to the applicable accounting standards, are as follows:

	Contributions by the Company
Pension Fund:	2018		2017		2016
Swedish Pension Plan	792		$	739	$	673
Total Contributions	$	792	$	739	$	673