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Pension Plans and Other Postretirement Benefit Plans
 6 Months Ended
Jun. 30, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
Pension Plans and Other Postretirement Benefit Plans
Pension Plans    The following table presents the funded status of Grace’s pension plans:
(In millions)
June 30,
2018
 
December 31,
2017
Overfunded defined benefit pension plans
$
4.2

 
$
—

Underfunded defined benefit pension plans
(63.4
)
 
(110.5
)
Unfunded defined benefit pension plans
(388.8
)
 
(391.9
)
Total underfunded and unfunded defined benefit pension plans
(452.2
)
 
(502.4
)
Pension liabilities included in other current liabilities
(14.8
)
 
(15.0
)
Net funded status
$
(462.8
)
 
$
(517.4
)

Underfunded plans include a group of advance-funded plans that are underfunded on a projected benefit obligation (“PBO”) basis. Unfunded plans include several plans that are funded on a pay-as-you-go basis, and therefore, the entire PBO is unfunded.
The following tables present the components of net periodic benefit cost (income).
 
Three Months Ended June 30,
 
2018
 
2017
(In millions)
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Service cost
$
4.9

 
$
2.5

 
$
4.3

 
$
2.0

Interest cost
10.3

 
1.2

 
10.5

 
1.1

Expected return on plan assets
(14.6
)
 
(0.2
)
 
(14.4
)
 
(0.2
)
Amortization of prior service credit
(0.1
)
 
—

 
(0.1
)
 
—

Net periodic benefit cost (income)
$
0.5

 
$
3.5

 
$
0.3

 
$
2.9


 
Six Months Ended June 30,
 
2018
 
2017
(In millions)
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Service cost
$
9.7

 
$
4.9

 
$
8.6

 
$
4.0

Interest cost
20.6

 
2.5

 
21.0

 
2.1

Expected return on plan assets
(29.1
)
 
(0.5
)
 
(28.8
)
 
(0.4
)
Amortization of prior service credit
(0.3
)
 
—

 
(0.2
)
 
—

Net periodic benefit cost (income)
$
0.9

 
$
6.9

 
$
0.6

 
$
5.7


Plan Contributions and Funding    Grace intends to satisfy its funding obligations under the U.S. qualified pension plans and to comply with all of the requirements of the Employee Retirement Income Security Act of 1974 (“ERISA”). For ERISA purposes, funded status is calculated on a different basis than under U.S. GAAP. On April 6, 2018, Grace contributed $50.0 million to its U.S. qualified pension plans.
Grace intends to fund non-U.S. pension plans based on applicable legal requirements and actuarial recommendations.
Defined Contribution Retirement Plan    Grace sponsors a defined contribution retirement plan for its employees in the United States. This plan is qualified under section 401(k) of the U.S. tax code. Currently, Grace contributes an amount equal to 100% of employee contributions, up to 6% of an individual employee’s salary or wages. Grace’s cost related to this benefit plan for the three and six months ended June 30, 2018, was $3.3 million and $6.1 million compared with $3.0 million and $5.7 million for the corresponding prior-year periods.
The U.S. salaried pension plan is closed to new entrants after January 1, 2017. U.S. salaried employees and certain U.S. hourly employees hired on or after January 1, 2017, and employees in Germany hired on or after January 1, 2016, will participate in enhanced defined contribution plans instead of defined benefit pension plans.