Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2018

Pension Plans, Defined Benefit

Schedule of Changes in Benefit Obligations and Plan Assets Related to Continuing Operations

CHANGES IN BENEFIT OBLIGATIONS AND PLAN ASSETS RELATED TO CONTINUING OPERATIONS FOR THE PERIODS ENDED DECEMBER 31

	U.S.						Non-U.S.
	2018			2017			2018			2017
Benefit obligation at beginning of year	$	368.6		$	361.2		$	220.9		$	190.6
Service cost		8.7			9.0			10.8			10.4
Interest cost		12.8			14.8			5.7			5.5
Actuarial (gain) loss due to:
Change in discount rate		(44.6	)		53.4			(12.1	)		5.9
Experience		0.8			(2.0	)		4.7			(4.3	)
Other assumption changes		3.5			4.2			4.8			1.4
Plan amendments		—			—			(0.1	)		(0.5	)
Benefits paid		(17.7	)		(9.8	)		(7.9	)		(7.9	)
Plan settlements		—			—			(0.8	)		(0.1	)
Curtailments		—			(62.2	)		—			—
Special termination benefits		—			—			0.5			0.3
Translation difference		—			—			(9.6	)		19.6
Benefit obligation at end of year	$	332.1		$	368.6		$	216.9		$	220.9
Fair value of plan assets at beginning of year	$	297.9		$	256.5		$	84.8		$	76.5
Actual return on plan assets		(13.9	)		44.5			(1.9	)		2.3
Company contributions		6.7			6.7			9.0			6.3
Benefits paid		(17.7	)		(9.8	)		(7.9	)		(7.9	)
Plan settlements		—			—			(0.8	)		(0.1	)
Translation difference		—			—			(5.4	)		7.7
Fair value of plan assets at end of year	$	273.0		$	297.9		$	77.8		$	84.8
Funded status recognized in the balance sheet	$	(59.1	)	$	(70.7	)	$	(139.1	)	$	(136.1	)

Schedule of Components of Net Periodic Benefit Cost from Continuing Operations

COMPONENTS OF NET PERIODIC BENEFIT COST FROM CONTINUING OPERATIONS ASSOCIATED WITH THE DEFINED BENEFIT RETIREMENT PLANS

	U.S.
	2018			2017			2016
Service cost	$	8.7		$	9.0		$	8.3
Interest cost		12.8			14.8			14.6
Expected return on plan assets		(20.4	)		(17.6	)		(16.6	)
Amortization of prior service credit		0.1			0.0			(0.9	)
Amortization of actuarial loss		2.2			6.0			4.8
Curtailment loss		—			0.2			—
Net periodic benefit cost	$	3.4		$	12.4		$	10.2

	Non-U.S.
	2018			2017			2016
Service cost	$	10.8		$	10.4		$	10.8
Interest cost		5.7			5.5			5.8
Expected return on plan assets		(2.0	)		(1.9	)		(2.2	)
Amortization of prior service costs		0.3			0.2			0.2
Amortization of actuarial loss		1.4			1.9			1.4
Settlement loss (gain)		0.2			0.1			(2.4	)
Special termination benefits		0.5			0.3			0.1
Net periodic benefit cost	$	16.9		$	16.5		$	13.7

Schedule of Components of Accumulated Other Comprehensive Income Before Tax Related to Continuing Operations

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME BEFORE TAX RELATED TO CONTINUING OPERATIONS AS OF DECEMBER 31

	U.S.				Non-U.S.
	2018		2017		2018		2017
Net actuarial loss	$	48.0	$	56.2	$	30.8	$	32.6
Prior service cost		0.1		0.1		3.1		2.9
Total accumulated other comprehensive income    recognized in the balance sheet	$	48.1	$	56.3	$	33.9	$	35.5

Schedule of Changes in Accumulated Other Comprehensive Income Before Tax from Continuing Operations

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BEFORE TAX FROM CONTINUING OPERATIONS FOR THE PERIODS ENDED DECEMBER 31

	U.S.						Non-U.S.
	2018			2017			2018			2017
Total retirement benefit recognized in accumulated    other comprehensive income at beginning of year	$	56.3		$	95.9		$	35.5		$	32.2
Net actuarial (gain) loss		(6.0	)		(33.4	)		1.6			2.4
Amortization of prior service credit (cost)		0.0			(0.2	)		(0.3	)		(0.2	)
Amortization of actuarial loss		(2.2	)		(6.0	)		(1.5	)		(2.0	)
Translation difference		—			—			(1.4	)		3.1
Total retirement benefit recognized in accumulated    other comprehensive income at end of year	$	48.1		$	56.3		$	33.9		$	35.5

Schedule of Accumulated Benefit Obligations Exceeding Fair Value of Plan Assets Related to Continuing Operations

PENSION PLANS FOR WHICH ABO EXCEEDS THE FAIR VALUE OF PLAN ASSETS RELATED TO CONTINUING OPERATIONS AS OF DECEMBER 31

	U.S.				Non-U.S.
	2018		2017		2018		2017
Projected Benefit Obligation (PBO)	$	332.1	$	368.6	$	143.3	$	143.6
Accumulated Benefit Obligation (ABO)		314.8		336.9		110.8		112.5
Fair value of plan assets		272.9		297.9		3.9		4.1

Schedule of Assumptions Used

ASSUMPTIONS USED TO DETERMINE THE BENEFIT OBLIGATIONS AS OF DECEMBER 31

	U.S.				Non-U.S.1)
% WEIGHTED AVERAGE	2018		2017		2018	2017
Discount rate		4.35		3.55	0.50-3.25	0.25-3.25
Rate of increases in compensation level		2.65		2.65	2.00-5.00	2.00-5.00

ASSUMPTIONS USED TO DETERMINE THE NET PERIODIC BENEFIT COST FOR YEARS ENDED DECEMBER 31

	U.S.
% WEIGHTED AVERAGE	2018		2017		2016
Discount rate		3.55		4.15		4.50
Rate of increases in compensation level		2.65		2.65		2.65
Expected long-term rate of return on assets		7.08		7.08		7.08

	Non-U.S.1)
% WEIGHTED AVERAGE	2018	2017	2016
Discount rate	0.25-3.25	0.50-3.25	0.50-3.60
Rate of increases in compensation level	2.00-5.00	2.00-5.00	2.25-5.00
Expected long-term rate of return on assets	2.25-2.50	1.50-2.50	1.50-3.60

1)The Non-U.S. weighted average plan ranges in the tables above have been prepared using significant plans only, which in total represent around 86% of the total Non-U.S. projected benefit obligation.

Schedule of Fair Value of Total Plan Assets Related to Continuing Operations

FAIR VALUE OF TOTAL PLAN ASSETS RELATED TO CONTINUING OPERATIONS FOR YEARS ENDED DECEMBER 31

	U.S.		U.S.				Non-U.S.
ASSETS CATEGORY IN % WEIGHTED AVERAGE	Target allocation		2018		2017		2018		2017
Equity securities		40		38		56		0		0
Debt instruments		60		62		43		79		79
Other assets		—		0		1		21		21
Total		100		100		100		100		100

Schedule of Fair Value of Company's Plan Assets

The following table summarizes the fair value of the Company’s U.S. and non-U.S. defined benefit pension plan assets:

	Fair value measurement at December 31, 2018		Fair value measurement at December 31, 2017
Assets
Non-U.S. Bonds
Corporate		61.4		66.9
Insurance Contracts		12.6		13.8
Other Investments		4.5		7.4
Assets at fair value Level 2		78.5		88.1
Investments measured at net asset value (NAV):
Common collective trusts		272.3		294.6
Total	$	350.8	$	382.7

Schedule of Expected Benefits Payments

PENSION BENEFITS EXPECTED PAYMENTS	U.S.		Non-U.S.
2019	$	13	$	8
2020	$	14	$	8
2021	$	17	$	9
2022	$	19	$	9
2023	$	20	$	10
Years 2024-2028	$	123	$	63

Postretirement Benefits Other Than Pensions

Schedule of Changes in Benefit Obligations and Plan Assets Related to Continuing Operations

CHANGES IN BENEFIT OBLIGATION FOR POSTRETIREMENT BENEFIT PLANS OTHER THAN PENSIONS RELATED TO CONTINUING OPERATIONS AS OF DECEMBER 31

	2018			2017
Benefit obligation at beginning of year	$	17.8		$	15.8
Service cost		0.3			0.3
Interest cost		0.6			0.6
Actuarial (gains) losses		(1.2	)		0.7
Benefits paid		(0.3	)		(0.2	)
Other		(1.7	)		0.6
Benefit obligation at end of year	$	15.5		$	17.8

Schedule of Components of Net Periodic Benefit Cost from Continuing Operations

COMPONENTS OF NET PERIODIC BENEFIT COST FROM CONTINUING OPERATIONS ASSOCIATED WITH THE POST RETIREMENT BENEFIT PLANS OTHER THAN PENSIONS

PERIOD ENDED DECEMBER 31	2018			2017			2016
Service cost	$	0.3		$	0.3		$	0.3
Interest cost		0.6			0.6			0.7
Amortization of prior service cost		(2.2	)		(2.2	)		(2.2	)
Amortization of actuarial loss		(0.3	)		(0.5	)		—
Net periodic benefit (credit) cost	$	(1.6	)	$	(1.8	)	$	(1.2	)

Schedule of Components of Accumulated Other Comprehensive Income Before Tax Related to Continuing Operations

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME BEFORE TAX ASSOCIATED WITH POSTRETIREMENT BENEFIT PLANS OTHER THAN PENSIONS RELATED TO CONTINUING OPERATIONS AS OF DECEMBER 31

	U.S.
	2018			2017
Net actuarial loss (gain)	$	(4.6	)	$	(3.7	)
Prior service cost (credit)		(8.2	)		(10.6	)
Total accumulated other comprehensive income    recognized in the balance sheet	$	(12.8	)	$	(14.3	)

Schedule of Expected Benefits Payments

The estimated future benefit payments for the postretirement benefits reflect expected future service as appropriate.

POSTRETIREMENT BENEFITS	EXPECTED PAYMENTS
2019	$	0.4
2020	$	0.4
2021	$	0.5
2022	$	0.5
2023	$	0.6
Years 2024–2028	$	3.5