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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Defined Benefit Plan, Assumptions [Table Text Block]

 
Pension Benefits
 
OPEB
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
U.S.
 
U.K.
 
U.S.
 
U.K.
 
U.S.
 
U.K.
 
 
 
 
 
 
Discount rate
3.40
%
 
2.05
%
 
4.30
%
 
2.95
%
 
3.65
%
 
2.75
%
 
3.35
%
 
4.35
%
 
3.65
%
Expected return on plan assets
7.25
%
 
4.00
%
 
7.50
%
 
5.10
%
 
7.45
%
 
5.10
%
 
N/A

 
N/A

 
N/A

Rate of compensation increase
N/A

 
3.15
%
 
4.00
%
 
3.40
%
 
4.00
%
 
3.40
%
 
4.00
%
 
4.00
%
 
4.00
%
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]
The following table summarizes the changes in projected benefit obligations and plan assets and reconciles the funded status of the benefit plans, which is the net benefit plan liability:
 
Pension Benefits
 
OPEB
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
 
(in millions)
Change in benefit obligation
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
734.5

 
$
824.0

 
$
537.3

 
$
613.3

Service cost
1.5

 
2.6

 
0.3

 
0.4

Interest cost
28.0

 
27.3

 
12.8

 
12.4

Plan amendments
—

 
4.3

 
—

 
(2.3
)
Actuarial loss (gain)
71.5

 
(63.2
)
 
11.9

 
(43.8
)
Change in GM portion of OPEB obligation
—

 
—

 
3.1

 
(32.6
)
Participant contributions
0.2

 
0.3

 
—

 
—

Curtailments
(1.9
)
 
(11.6
)
 
—

 
(0.2
)
Settlements
(28.8
)
 
(0.6
)
 
—

 
—

Benefit payments
(44.1
)
 
(39.7
)
 
(15.5
)
 
(9.9
)
Sale of business
(26.2
)
 
—

 
(0.8
)
 
—

Currency fluctuations
5.5

 
(9.4
)
 
—

 
—

Other
—

 
0.5

 
—

 
—

Net change
5.7

 
(89.5
)
 
11.8

 
(76.0
)
Benefit obligation at end of year
$
740.2

 
$
734.5

 
$
549.1

 
$
537.3

 
 
 
 
 
 
 
 
Change in plan assets
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
625.8

 
$
702.2

 
$
—

 
$
—

Actual return on plan assets
87.5

 
(31.0
)
 
—

 
—

Employer contributions
10.0

 
4.4

 
15.5

 
9.9

Participant contributions
0.2

 
0.3

 
—

 
—

Benefit payments
(44.1
)
 
(39.8
)
 
(15.5
)
 
(9.9
)
Settlements
(28.8
)
 
(0.6
)
 
—

 
—

Sale of business
(20.7
)
 
—

 
—

 
—

Currency fluctuations
6.7

 
(9.7
)
 
—

 
—

Net change
10.8

 
(76.4
)
 
—

 
—

Fair value of plan assets at end of year
$
636.6

 
$
625.8

 
$
—

 
$
—
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

Amounts recognized in our Consolidated Balance Sheets are as follows:
 
Pension Benefits
 
OPEB
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
 
(in millions)
Noncurrent assets
$
21.2

 
$
26.4

 
$
—

 
$
—

Current liabilities
(6.6
)
 
(6.5
)
 
(29.1
)
 
(30.8
)
Noncurrent liabilities
(118.2
)
 
(128.6
)
 
(520.0
)
 
(506.5
)
Net liability
$
(103.6
)
 
$
(108.7
)
 
$
(549.1
)
 
$
(537.3
)
Schedule of Pre-tax Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

Pre-tax amounts recorded in accumulated other comprehensive income (loss) (AOCI), not yet recognized in net periodic benefit cost (credit) as of December 31, 2019 and 2018, consists of:

 
Pension Benefits
 
OPEB
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
 
(in millions)
Net actuarial gain (loss)
$
(239.2
)
 
$
(230.6
)
 
$
19.3

 
$
31.3

Net prior service credit (cost)
(1.2
)
 
(1.2
)
 
4.7

 
6.2

Total amounts recorded
$
(240.4
)
 
$
(231.8
)
 
$
24.0

 
$
37.5
Schedule of Net Benefit Costs [Table Text Block]
The components of net periodic benefit cost (credit) are as follows:

 
Pension Benefits
 
OPEB
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
(in millions)
Service cost
$
1.5

 
$
2.6

 
$
3.6

 
$
0.3

 
$
0.4

 
$
0.3

Interest cost
28.0

 
27.3

 
28.9

 
12.8

 
12.4

 
13.3

Expected asset return
(41.1
)
 
(45.8
)
 
(44.0
)
 
—

 
—

 
—

Amortized actuarial loss
6.4

 
7.8

 
7.1

 
0.1

 
0.8

 
0.6

Amortized prior service cost (credit)
—

 
0.1

 
(0.1
)
 
(1.5
)
 
(2.7
)
 
(2.7
)
Curtailment loss (gain)
—

 
3.2

 
—

 
—

 
(0.6
)
 
—

Settlement charge
10.4

 
0.4

 
3.2

 
—

 
—

 
—

Net periodic benefit cost (credit)
$
5.2

 
$
(4.4
)
 
$
(1.3
)
 
$
11.7

 
$
10.3

 
$
11.5
Schedule of Allocation of Plan Assets [Table Text Block]
 
U.S.
 
U.K.
 
 
 
Target
 
 
 
Target
 
2019
 
2018
 
Allocation
 
2019
 
2018
 
Allocation
Equity securities
35.2
%
 
31.9
%
 
30% - 55%
 
22.7
%
 
19.0
%
 
15% - 25%
Fixed income securities
52.9

 
57.5

 
40% - 60%
 
66.8

 
68.3

 
65% - 75%
Alternative assets
10.4

 
10.0

 
5% - 10%
 
9.4

 
10.5

 
5% - 15%
Cash
1.5

 
0.6

 
0% - 5%
 
1.1

 
2.2

 
0% - 5%
Total
100.0
%
 
100.0
%
 
 
 
100.0
%
 
100.0
%
 
 


The primary objective of our pension plan assets is to provide a source of retirement income for participants and beneficiaries. Our primary financial objectives for the pension plan assets have been established in conjunction with a comprehensive review of our current and projected financial requirements. These objectives include having the ability to pay all future benefits and expenses when due, maintaining flexibility and minimizing volatility. These objectives are based on a long-term investment horizon.

Defined Benefit Pension Plan Assets Investments in our defined benefit plans are stated at fair value. Level 1 assets are valued using quoted market prices that represent the asset value of the shares held by the trusts. The level 2 assets are investments in pooled funds, which are valued using a model to reflect the valuation of their underlying assets that are publicly traded with observable values. The fair values of our pension plan assets are as follows:
December 31, 2019
 
 
 
 
 
 
 
 
Asset Categories
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(in millions)
Cash and Cash Equivalents
 
$
7.3

 
$
2.0

 
$
—

 
$
9.3

Equity
 
 
 
 
 
 
 
 
    U.S. Large Cap
 
82.4

 
3.0

 
—

 
85.4

    U.S. Small/Mid Cap
 
22.7

 
—

 
—

 
22.7

    World Equity
 
88.1

 
4.7

 
—

 
92.8

Fixed Income Securities
 
 
 
 
 
 
 
 
    Government & Agencies
 
74.3

 
45.0

 
—

 
119.3

    Corporate Bonds - Investment Grade
 
185.8

 
0.6

 
—

 
186.4

    Corporate Bonds - Non-investment Grade
 
21.7

 
1.1

 
—

 
22.8

    Emerging Market Debt
 
20.4

 
0.7

 
—

 
21.1

    Other
 
6.9

 
4.8

 
—

 
11.7

Other
 
 
 
 
 
 
 
 
    Property Funds (a)
 
—

 
—

 
—

 
57.3

    Liquid Alternatives Fund (a)
 
—

 
—

 
—

 
1.6

    Structured Credit Fund (a)
 
—

 
—

 
—

 
6.2

Total Plan Assets
 
$
509.6

 
$
61.9

 
$
—

 
$
636.6

 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
Asset Categories
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(in millions)
Cash and Cash Equivalents
 
$
3.5

 
$
3.2

 
$
—

 
$
6.7

Equity
 
 
 
 
 
 
 
 
    U.S. Large Cap
 
72.5

 
3.4

 
—

 
75.9

    U.S. Small/Mid Cap
 
17.4

 
0.1

 
—

 
17.5

    World Equity
 
79.5

 
5.3

 
—

 
84.8

Fixed Income Securities
 
 
 
 
 
 
 
 
    Government & Agencies
 
86.5

 
54.3

 
—

 
140.8

    Corporate Bonds - Investment Grade
 
177.2

 
2.7

 
—

 
179.9

    Corporate Bonds - Non-investment Grade
 
19.8

 
1.5

 
—

 
21.3

    Emerging Market Debt
 
18.0

 
0.9

 
—

 
18.9

    Other
 
6.9

 
8.9

 
—

 
15.8

Other
 
 
 
 
 
 
 
 
    Property Funds (a)
 
—

 
—

 
—

 
56.0

    Liquid Alternatives Fund (a)
 
—

 
—

 
—

 
2.5

    Structured Credit Fund (a)
 
—

 
—

 
—

 
5.7

Total Plan Assets
 
$
481.3

 
$
80.3

 
$
—

 
$
625.8


(a) In accordance with ASC 810-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Balance Sheets.