Employee Benefit Plans |
12 Months Ended |
|---|---|
Dec. 31, 2015 | |
| Postemployment Benefits [Abstract] | |
| Employee Benefit Plans | Employee Benefit Plans Qualified Retirement Plan The Company has a defined contribution retirement plan (the “Plan”) for all eligible employees in the United States. Eligible employees may begin participating in the Plan upon their hire date. The Plan contains a 401(k) provision, which provides for employee pre-tax and/or after-tax contributions, from 1% to 50% of their eligible compensation up to a combined maximum permitted by law. The Company matched employee contributions on a dollar for dollar basis per participant up to the greater of $5,500, or 5.5%, of eligible compensation for the year ended December 31, 2015. The Company matched employee contributions up to the greater of $5,000, or 5.0%, of eligible compensation for the year ended December 31, 2014, and up to the greater of $5,000, or 4.5%, of eligible compensation for the year ended December 31, 2013. Employees are eligible for the Company match after satisfying a one year service requirement provided that they are working on the last day of the Plan year in which the match is made. The Plan also provides for employees who retire, die or become disabled during the Plan year to receive the Company match for that Plan year. The Plan provides that forfeitures will be used to reduce the Company’s contributions. Forfeitures are created annually by participants who terminate employment before becoming entitled to the Company’s matching contribution under the Plan. The Company also has the option of making discretionary contributions. There were no discretionary contributions made for the years ended December 31, 2015, 2014 and 2013. The expense that the Company incurred for matching employee contributions for the years ended December 31, 2015, 2014 and 2013 was $3.3 million, $2.8 million and $2.4 million, respectively. The Company maintains additional retirement plans in the Americas, Europe and Asia Pacific regions which the Company does not consider as material, and, therefore additional disclosure has not been presented. The balances associated with these plans have been reported in the Consolidated Statements of Comprehensive Income for the years ended December 31, 2015, 2014 and 2013 and in the Consolidated Balance Sheets as of December 31, 2015 and 2014. Deferred Compensation Plans The Company has a deferred compensation plan for certain U.S. employees (the “U.S. Plan”) that became effective on January 1, 2006. The U.S. Plan allows participants to defer up to 25% of their base compensation and up to the lesser of $500,000 or 25% of their eligible bonus compensation into several different investment vehicles. These deferrals are immediately vested and are not subject to a risk of forfeiture. In 2015 and 2014, all deferrals in the U.S. Plan were funded. The compensation deferred in the U.S. Plan was $12.0 million and $11.4 million, at December 31, 2015 and 2014, respectively. The assets of the U.S. Plan are included in Investments and the liabilities of the U.S. Plan are included in Retirement and pension plans in the Consolidated Balance Sheets as of December 31, 2015 and 2014. The Company has a Non-Employee Directors Voluntary Deferred Compensation Plan whereby non-employee members of the Company’s Board of Directors may elect to defer up to 100% of the cash component of their directors’ fees into several different investment vehicles. As of December 31, 2015 and 2014, the total amounts deferred under the plan were $2.1 million and $2.3 million, respectively, all of which was funded. The assets of the plan are included in Investments and the liabilities of the plan are included in Retirement and pension plans in the Consolidated Balance Sheets at December 31, 2015 and 2014. The U.S. and Non-Employee Directors Voluntary Deferred Compensation Plans consist primarily of marketable securities and mutual funds, all of which are valued using Level 1 inputs (See Note 7, Fair Value Measurements). |