Employee Benefit Plans

9 Months Ended

Sep. 30, 2018

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

Note 10 - Employee benefit plans:

The components of net periodic defined benefit pension cost are presented in the table below.

	Three months ended						Nine months ended
	September 30,						September 30,
	2017			2018			2017			2018
	(In millions)
Service cost	$	3.0		$	2.9		$	8.5		$	8.8
Interest cost		3.6			3.5			10.3			10.7
Expected return on plan assets		(2.6	)		(3.3	)		(7.6	)		(9.9	)
Amortization of prior service cost		-			.1			.2			.2
Recognized actuarial losses		3.5			3.3			10.0			10.3
Total	$	7.5		$	6.5		$	21.4		$	20.1

The components of net periodic postretirement benefits other than pension (“OPEB”) cost are presented in the table below.  

	Three months ended						Nine months ended
	September 30,						September 30,
	2017			2018			2017			2018
	(In millions)
Service cost	$	-		$	-		$	.1		$	.1
Interest cost		.1			.1			.2			.2
Amortization of prior service credit		(.1	)		(.1	)		(.4	)		(.4	)
Recognized actuarial losses		-			.1			.1			.2
Total	$	-		$	.1		$	-		$	.1

Upon the adoption of ASU 2017-07, Compensation - Retirement Benefits (Topic 715) Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, our net periodic defined benefit pension cost and other postretirement benefit cost, other than the service cost component, is presented as a separate line item (“Other components of net periodic pension and OPEB cost”) in our Condensed Consolidated Statements of Income for all periods presented.  See Note 15.

We expect our 2018 contributions for our pension and other postretirement plans to be approximately $17 million.