PENSION, PROFIT SHARING AND OTHER POST-RETIREMENT BENEFITS - (Tables)

12 Months Ended

Dec. 31, 2013

Compensation and Retirement Disclosure [Abstract]

The Company’s net periodic benefit cost (income) for its defined benefit and post-retirement health benefit plans for the years ended December 31, 2013, 2012 and 2011 consists of the following components:



	For the year ended December 31,
	2013						2012						2011
	Defined Benefit			Post- Retirement Health Benefits			Defined Benefit			Post- Retirement Health Benefits			Defined Benefit			Post- Retirement Health Benefits
	(Dollar amounts in millions)
Service cost	$	0.5		$	—		$	0.4		$	—		$	0.5		$	—
Interest cost	6.8			0.1			7.5			0.1			8.6			0.2
Expected return on plan assets	(6.8		)	—			(7.0		)	—			(9.3		)	—
Net amortization of actuarial loss (gain)	0.8			(0.1		)	0.8			(0.2		)	—			(0.1		)
Settlement gain	—			—			—			(0.2		)	—			(0.1		)
Net periodic benefit cost (income)	$	1.3		$	—		$	1.7		$	(0.3	)	$	(0.2	)	$	—

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

The following table outlines the rollforward of the benefit obligation and plan assets for the defined benefit and post-retirement health benefit plans for the years ended December 31, 2013 and 2012:



	December 31,
	2013						2012
	Defined Benefit			Post- Retirement Health Benefits			Defined Benefit			Post- Retirement Health Benefits
	(Dollar amounts in millions)
Change in benefit obligation:
Benefit obligation at January 1,	$	193.0		$	2.2		$	186.0		$	5.3
Service cost	0.5			—			0.4			—
Interest cost	6.8			0.1			7.5			0.1
Loss due to foreign exchange	0.8			—			1.7			—
Actuarial (gain) loss, excluding assumption changes	(2.2		)	(0.1		)	0.1			(0.1		)
Actuarial (gain) loss due to assumption changes	(9.1		)	(0.2		)	9.5			—
Benefits and expenses paid	(12.0		)	(0.1		)	(12.2		)	(3.1		)
Benefit obligation at December 31,	$	177.8		$	1.9		$	193.0		$	2.2
Change in plan assets:
Fair value of plan assets at January 1,	$	131.7		$	—		$	119.1		$	—
Actual gain on plan assets	9.8			—			13.6			—
Gain due to foreign exchange	0.6			—			1.2			—
Employer contribution	3.9			0.1			10.0			3.1
Benefits and expenses paid	(12.0		)	(0.1		)	(12.2		)	(3.1		)
Fair value of plan assets at December 31,	$	134.0		$	—		$	131.7		$	—
Funded status at end of year	$	(43.8	)	$	(1.9	)	$	(61.3	)	$	(2.2	)
Accumulated benefit obligation at end of year	$	177.6		N/A			$	192.8		N/A

Schedule of Net Funded Status

The following table outlines the funded status amounts recognized in the consolidated balance sheet at December 31, 2013 and 2012:



	December 31,
	2013				2012
	Defined Benefit		Post- Retirement Health Benefits		Defined Benefit		Post- Retirement Health Benefits
	(Dollar amounts in millions)
Current liabilities	$	0.8	$	0.3	$	0.8	$	0.3
Non-current liabilities	43.0		1.6		60.5		1.9
	$	43.8	$	1.9	$	61.3	$	2.2

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

Other changes in assets and obligations recognized in accumulated other comprehensive income (loss) for the years ended December 31, 2013, 2012 and 2011 were as follows:



	For the year ended December 31,
	2013						2012						2011
	Defined Benefit			Post- Retirement Health Benefits			Defined Benefit			Post- Retirement Health Benefits			Defined Benefit			Post- Retirement Health Benefits
	(Dollar amounts in millions)
Actuarial gain (loss) arising during the period	$	14.1		$	0.2		$	(3.4	)	$	0.1		$	(30.9	)	$	1.0
Amortization to net (loss) earnings of net actuarial (gain) loss	0.7			—			0.8			(0.4		)	—			(0.2		)
Deferred income taxes on pension liability	(5.9		)	(0.1		)	(0.1		)	0.1			10.4			(0.3		)
Other comprehensive (loss) income	$	8.9		$	0.1		$	(2.7	)	$	(0.2	)	$	(20.5	)	$	0.5

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Information for the Company's defined benefit plans with accumulated benefit obligations in excess of plan assets as of December 31, 2013 and 2012 is as follows:



	December 31,
	2013		2012
	(Dollar amounts in millions)
Projected benefit obligation	$	177.8	$	193.0
Accumulated benefit obligation	$	177.6	$	192.8
Plan assets	$	134.0	$	131.7

Schedule of Allocation of Plan Assets

The following tables set forth by level, within the fair value hierarchy (see Note 15, “Fair Value”), the pension plan assets carried at fair value as of December 31, 2013 and 2012:



	Assets at Fair Value as of December 31, 2013
	Level 1		Level 2		Level 3		Total
	(Dollar amounts in millions)
Interest-bearing cash	$	3.3	$	—	$	—	$	3.3
Corporate debt	50.7		—		—		50.7
Investments in Registered Investment Companies	44.7		—		—		44.7
Investments in limited partnerships	—		—		2.8		2.8
Investments in pooled pension funds	31.8		—		—		31.8
Other long-term investments	0.7		—		—		0.7
Total investments at fair value	$	131.2	$	—	$	2.8	$	134.0



	Assets at Fair Value as of December 31, 2012
	Level 1		Level 2		Level 3		Total
	(Dollar amounts in millions)
Interest-bearing cash	$	4.5	$	—	$	—	$	4.5
Corporate debt	8.3		—		—		8.3
Equity securities	20.2		—		—		20.2
Investments in Registered Investment Companies	54.4		—		—		54.4
Investments in limited partnerships	—		—		14.4		14.4
Investments in pooled pension funds	29.9		—		—		29.9
Total investments at fair value	$	117.3	$	—	$	14.4	$	131.7

The Company’s pension plan assets by asset category and by investment objective for equity securities, investment funds and investments in limited partnerships are shown in the tables below. Pension plan assets for the foreign plan relate to the Company’s pension plan in the United Kingdom. The investment objective for equity securities represents the principal criteria by which investment manager performance is evaluated. Individual investments included within these groupings may include foreign or other equity investments that are reflective of the overall investment objective for the investment manager.



	December 31, 2013				December 31, 2012
	Investment		% of Total		Investment		% of Total
	(Dollar amounts in millions)
Asset Category
Interest bearing cash:
Domestic plans	$	3.3	2.5	%	$	4.5	3.5	%
Fixed income securities:
Domestic plans	50.7		37.8		8.3		6.3
Equity securities:
Domestic plans	—		—		20.2		15.3
Investment funds:
Domestic plans	44.7		33.4		54.4		41.3
Investments in limited partnerships:
Domestic plans	2.8		2.1		14.4		10.9
Investments in pooled pension funds:
Foreign plan	31.8		23.7		29.9		22.7
Other investments:
Domestic plans	0.7		0.5		—		—
Total plan assets	$	134.0	100.0	%	$	131.7	100.0	%

Equity Securities by Investment Objective:
Domestic mid cap growth	$	—	—	%	$	6.0	4.6	%
Domestic mid cap value	—		—		8.3		6.2
Domestic small cap value	—		—		5.9		4.5
	$	—	—	%	$	20.2	15.3	%



	December 31, 2013				December 31, 2012
	Investment		% of Total		Investment		% of Total
	(Dollar amounts in millions)
Investment Funds by investment objective:
Domestic large blend	$	18.1	13.5	%	$	—	—	%
Foreign large blend	9.1		6.8		—		—
Domestic mid cap blend	6.7		5.0		—		—
Domestic small blend	5.4		4.0		—		—
Diversified emerging markets	3.0		2.3		—		—
Real estate	2.4		1.8		—		—
Domestic large cap value	—		—		4.0		3.0
International value	—		—		7.8		5.9
International core	—		—		6.1		4.6
Domestic mid cap value	—		—		6.8		5.2
Domestic small cap value	—		—		6.0		4.6
Domestic small cap core	—		—		3.4		2.6
International macro hedge	—		—		1.6		1.2
Fixed income	—		—		18.7		14.2
	$	44.7	33.4	%	$	54.4	41.3	%

Investments in Limited Partnerships by investment objective:
Domestic large cap core	$	2.8	2.1	%	$	2.7	2.0	%
International core	—		—		2.8		2.1
Domestic mid cap value	—		—		0.1		0.1
Fixed income	—		—		8.8		6.7
	$	2.8	2.1	%	$	14.4	10.9	%

Investments in pooled pension funds by investment objective:
Fixed income	$	12.5	9.3	%	$	12.2	9.3	%
International hedge	19.3		14.4		17.7		13.4
	$	31.8	23.7	%	$	29.9	22.7	%

The Company’s overall weighted-average asset allocations for its domestic and foreign plans at December 31, 2013 and 2012 were as follows:



	December 31,
Asset Category	2013		2012
Cash and cash equivalents	2.5	%	3.5	%
Equity based	49.9		60.1
Fixed income based	47.6		36.4
	100.0	%	100.0	%

Schedule of Level Three Defined Benefit Plan Assets Roll Forward

The table below sets forth a summary of changes in the fair value of the Plan’s Level 3 assets for the year ended December 31, 2013:



	Investments in Limited Partnerships
	(Dollar amounts in millions)
Balance, beginning of year	$	14.4
Net realized and unrealized gains on investments	0.1
Sales of investments	(11.7		)
Balance, end of year	$	2.8

Schedule of Assumptions Used

The assumptions used in determining pension, supplemental retirement plans and post-retirement costs and the projected benefit obligation are as follows:



	For the Year Ended December 31,
	2013			2012			2011
Discount rate for projected benefit obligation	3.00%	-	4.50%	2.00%	-	4.40%	3.00%	-	4.70%
Discount rate for pension costs	2.00%	-	4.40%	3.00%	-	4.70%	4.00%	-	5.40%
Expected long-term average return on plan assets	5.36%	-	5.50%	5.81%	-	5.92%	6.72%	-	7.75%
Rate of compensation increase	2.00%	-	3.00%	2.00%	-	3.00%	2.00%	-	3.00%

Schedule of Expected Benefit Payments

At December 31, 2013, the expected future benefit payments for the defined benefit and post-retirement health benefit plans were as follows:



Year Ended December 31,	Defined Benefit		Post-Retirement Health Benefits
	(Dollar amounts in millions)
2014	$	11.8	$	0.4
2015	11.8		0.3
2016	11.9		0.3
2017	12.0		0.3
2018	12.0		0.2
2019-2023	56.3		0.8