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Pension and Other Postretirement Benefits
 3 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits
 
Pension Plans
 
Substantially all active employees of the Company’s U.S. operations participate in defined benefit pension plans and/or defined contribution retirement plans. The Company has defined benefit plans designed to provide a monthly pension upon retirement for substantially all its employees in Germany and the United Kingdom. In addition, the Company maintains a SERP which is a non-qualified defined benefit plan and a supplemental retirement contribution plan (the “SRCP”) which is a non-qualified, unfunded defined contribution plan. The Company provides benefits under the SERP and SRCP to the extent necessary to fulfill the intent of its retirement plans without regard to the limitations set by the Internal Revenue Code on qualified and non-qualified retirement benefit plans.
 
The following table presents the components of net periodic benefit cost for the Company’s defined benefit plans and postretirement plans other than pensions:
 
Components of Net Periodic Benefit Cost for Defined Benefit Plans
 
 
 
Pension Benefits
 
Postretirement Benefits
Other than Pensions
 
 
Three Months Ended March 31,
 
 
2017
 
2016
 
2017
 
2016
Service cost
 
$
1.3

 
$
1.2

 
$
0.3

 
$
0.3

Interest cost
 
3.7

 
4.0

 
0.4

 
0.4

Expected return on plan assets (a)
 
(4.8
)
 
(4.7
)
 
—

 
—

Recognized net actuarial loss
 
1.9

 
1.7

 
—

 
0.1

Amortization of prior service benefit
 
0.1

 
—

 
—

 
(0.1
)
Net periodic benefit cost
 
$
2.2

 
$
2.2

 
$
0.7

 
$
0.7

 
 
 
 
 
 
 
 
 
 
(a)         The expected return on plan assets is determined by multiplying the fair value of plan assets at the prior year-end (adjusted for estimated current year cash benefit payments and contributions) by the expected long-term rate of return.
 
The Company expects to make aggregate contributions to qualified and nonqualified defined benefit pension trusts and to pay pension benefits for unfunded pension plans of approximately $16 million in calendar 2017.  For the three months ended March 31, 2017, the Company made $1.2 million of such payments. The Company made similar payments of $0.5 million and $18.4 million for the three months ended March 31, 2016 and for the year ended December 31, 2016, respectively.