Employee Benefit Plans

3 Months Ended

Mar. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

The Company sponsored a qualified defined-benefit pension plan and a post-retirement benefit plan (collectively, “the Pension Plans”). The plans were frozen as of September 30, 1986, and since then there have been no new entrants to the Pension Plans.

The following table provides the components of the net periodic benefit cost (income) of the qualified defined-benefit pension plan (in millions):

	Three Months Ended
	March 31,
	2016			2015
PENSION BENEFITS
Interest cost	$	0.3		$	0.4
Expected return on plan assets	(0.5		)	(0.5		)
Amortization of net actuarial loss	0.2			0.1
Net periodic benefit cost (income)	$	—		$	—

The Company incurred less than $0.1 million in net periodic benefit costs related to the post-retirement benefit plan for the three months endedMarch 31, 2016 and 2015.

The Company made no contributions to the Pension Plans during the three months endedMarch 31, 2016 and March 31, 2015. No minimum contribution to the defined-benefit pension plan is required in 2016. During the remainder of 2016, the Company expects to contribute a total of $0.2 million to the post-retirement benefit plan.

The Company offers certain plan participants the option to receive a lump sum payment in lieu of future annuity pension benefits. As a result, the Company expects that it will remeasure its pension plan obligation and record a settlement charge once the lump sum payments exceed thresholds calculated under GAAP. The Company expects to recognize settlement charges ranging between $0.8 million and $1.7 million in 2016 related to lump sum payments and other pension settlement activities.