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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Change In Benefit Obligation, Change In Plan Assets And Components Of Funded Status
The following tables present the change in benefit obligation, change in plan assets and components of funded status for defined benefit pension and post-retirement health care benefit plans. Actuarial assumptions that were used are also included.
 
 
Pension Benefits
 
Health Care Benefits
(In millions)
 
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 
 
 
 
 
 
 
 
Projected benefit obligation — beginning of year
 
$
537.0

 
$
597.2

 
$
16.4

 
$
18.9

Service cost
 
1.6

 
1.7

 

 

Interest cost
 
24.9

 
23.9

 
0.7

 
0.6

Actuarial loss (gain)
 
70.9

 
(35.5
)
 
1.3

 
(1.0
)
Benefits paid
 
(54.8
)
 
(51.5
)
 
(1.7
)
 
(2.0
)
Other
 
(2.8
)
 
1.2

 
(0.1
)
 
(0.1
)
Projected benefit obligation — end of year
 
$
576.8

 
$
537.0

 
$
16.6

 
$
16.4

Projected salary increases
 
(3.5
)
 
(2.8
)
 

 

Accumulated benefit obligation
 
$
573.3

 
$
534.2

 
$
16.6

 
$
16.4

Change in plan assets:
 
 
 
 
 
 
 
 
Plan assets — beginning of year
 
$
472.2

 
$
410.4

 
$

 
$

Actual return on plan assets
 
47.8

 
44.9

 

 

Company contributions
 
20.1

 
68.0

 
1.5

 
1.8

Plan participants’ contributions
 

 

 
0.2

 
0.2

Benefits paid
 
(54.8
)
 
(51.5
)
 
(1.7
)
 
(2.0
)
Other
 
(1.3
)
 
0.4

 

 

Plan assets — end of year
 
$
484.0

 
$
472.2

 
$

 
$

Unfunded status at end of year
 
$
(92.8
)
 
$
(64.8
)
 
$
(16.6
)
 
$
(16.4
)
Amounts Included In Consolidated Balance Sheets
Amounts included in the accompanying Consolidated Balance Sheets are as follows:
 
 
Pension Benefits
 
Health Care Benefits
(In millions)
 
2014
 
2013
 
2014
 
2013
Non-current assets
 
$

 
$
1.8

 
$

 
$

Accrued expenses and other liabilities
 
4.1

 
4.0

 
1.6

 
1.7

Other non-current liabilities
 
88.7

 
62.6

 
15.0

 
14.7

Schedule Of Projected And Accumulated Benefit Obligations In Excess Of Plan Assets
As of December 31, 2014 and 2013, we had plans with total projected and accumulated benefit obligations in excess of the related plan assets as follows:
 
 
Pension Benefits  
 
Health Care Benefits
(In millions)
 
2014
 
2013
 
2014
 
2013
Projected benefit obligation
 
$
566.3

 
$
528.5

 
$
16.6

 
$
16.4

Accumulated benefit obligation
 
562.8

 
525.6

 
16.6

 
16.4

Fair value of plan assets
 
473.5

 
461.9

 

 

Weighted Average Assumptions Used To Determine Net Periodic Benefit Cost and Benefit Obligation
Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31:
 
 
Pension Benefits
 
Health Care Benefits
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate*
 
4.83
%
 
4.12
%
 
5.11
%
 
4.38
%
 
3.71
%
 
4.66
%
Expected long-term return on plan assets*
 
6.86
%
 
8.41
%
 
8.43
%
 
%
 
%
 
%
Assumed health care cost trend rates at December 31:
 
 
 
 
 
 
 
 
 
 
 
 
Health care cost trend rate assumed for next year
 
N/A

 
N/A

 
N/A

 
7.02
%
 
7.39
%
 
8.35
%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
 
N/A

 
N/A

 
N/A

 
4.50
%
 
4.63
%
 
5.00
%
Year that the rate reaches the ultimate trend rate
 
N/A

 
N/A

 
N/A

 
2027

 
2025

 
2019

Weighted-average assumptions used to determine benefit obligations at December 31:
 
 
Pension Benefits  
 
Health Care Benefits
 
 
2014
 
2013
 
2014
 
2013
Discount rate
 
3.88
%
 
4.83
%
 
3.75
%
 
4.38
%
Assumed health care cost trend rates at December 31:
 
 
 
 
 
 
 
 
Health care cost trend rate assumed for next year
 
N/A

 
N/A

 
6.88
%
 
7.02
%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
 
N/A

 
N/A

 
4.50
%
 
4.50
%
Year that the rate reaches the ultimate trend rate
 
N/A

 
N/A

 
2027

 
2027

Impact Of One Percentage Point Change In Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates have an effect on the amounts reported for the health care plans. A one percentage point change in assumed health care cost trend rates would have the following impact:
(In millions)
 
One Percentage
Point Increase
 
One Percentage
Point Decrease
Effect on total of service and interest cost
 
$

 
$

Effect on post-retirement benefit obligation
 
1.1

 
(1.0
)
Components Of Net Period Benefit Cost
The following table summarizes the components of net period benefit cost or gain that was recognized during each of the years in the three-year period ended December 31, 2014. Actuarial assumptions that were used are also included.
 
 
Pension Benefits
 
Health Care Benefits
(In millions)
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Components of net periodic benefit costs (gains):
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
$
1.6

 
$
1.7

 
$
1.5

 
$

 
$

 
$

Interest cost
 
24.9

 
23.9

 
27.2

 
0.7

 
0.6

 
0.8

Expected return on plan assets
 
(32.2
)
 
(37.4
)
 
(27.6
)
 

 

 

Amortization of prior service cost
 

 

 

 

 

 
(17.4
)
Mark-to-market actuarial net losses (gains)
 
55.2

 
(43.0
)
 
44.0

 
1.3

 
(1.0
)
 
(2.0
)
Net periodic benefit cost (gain)
 
$
49.5

 
$
(54.8
)
 
$
45.1

 
$
2.0

 
$
(0.4
)
 
$
(18.6
)
Fair Values Of Pension Plan Assets
The fair values of pension plan assets at December 31, 2014 and 2013, by asset category, are as follows:
 
 
Fair Value of Plan Assets at December 31, 2014
(In millions)
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Asset category
 
 
 
 
 
 
 
 
Cash
 
$
6.7

 
$

 
$

 
$
6.7

Small-cap equity
 
19.2

 

 

 
19.2

Registered investment companies:
 
 
 
 
 
 
 
 
Non-U.S. equity
 
44.3

 

 

 
44.3

Floating rate income
 
35.7

 

 

 
35.7

Common collective funds:
 
 
 
 
 
 
 
 
Short-term investments
 

 
18.8

 

 
18.8

United States equity
 

 
62.6

 

 
62.6

Fixed income
 

 
77.0

 

 
77.0

United States treasuries
 
74.6

 

 

 
74.6

Fixed income securities
 
124.7

 
5.2

 

 
129.9

Other
 

 

 
15.2

 
15.2

Totals
 
$
305.2

 
$
163.6

 
$
15.2

 
$
484.0



 
 
Fair Value of Plan Assets at December 31, 2013
(In millions)
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Asset category
 
 
 
 
 
 
 
 
Cash
 
$
6.6

 
$

 
$

 
$
6.6

Equity securities:
 
 
 
 
 
 
 


    Large-cap equity
 
28.4

 

 

 
28.4

    Small-cap equity
 
22.0

 

 

 
22.0

    International equity
 
14.4

 

 

 
14.4

Registered investment companies:
 
 
 
 
 
 
 


Fixed income
 
107.7

 

 

 
107.7

Non-U.S. equity
 
45.2

 

 

 
45.2

Floating rate income
 
35.3

 

 

 
35.3

Common collective funds:
 
 
 
 
 
 
 


Short-term investments
 

 
14.8

 

 
14.8

United States equity
 

 
30.0

 

 
30.0

United States treasuries
 
42.8

 

 

 
42.8

Fixed income securities
 
125.0

 

 

 
125.0

Totals
 
$
427.4

 
$
44.8

 
$

 
$
472.2

Estimated Future Benefit Payments
The estimated future benefit payments for our pension and health care plans are as follows:
(In millions)
 
Pension
Benefits
 
Health
Care
Benefits
2015
 
$
50.0

 
$
1.6

2016
 
39.5

 
1.6

2017
 
39.0

 
1.5

2018
 
39.1

 
1.5

2019
 
38.6

 
1.4

2020 through 2024
 
186.3

 
6.0

Schedule Of Contributions To The Retirement Savings Plan
Following are our contributions to the RSP:
(In millions)
 
2014
 
2013
 
2012
Retirement savings match
 
$
9.7

 
$
9.8

 
$
7.6

Retirement benefit contribution
 
4.0

 
4.0

 
3.8

Total contributions
 
$
13.7

 
$
13.8

 
$
11.4