Pensions and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

The pension and postretirement expenses related to the Company’s plans consisted of the following:



	Pension Benefits									Postretirement Benefits
	Year Ended December 31,
In millions	2015			2014			2013			2015			2014			2013
Components of Net Periodic Cost:
Service Cost	$	12.8		$	12.6		$	16.3		$	1.0		$	1.2		$	1.2
Interest Cost	54.8			57.9			52.2			1.7			2.2			2.0
Expected Return on Plan Assets	(74.4		)	(79.8		)	(68.0		)	—			—			—
Amortization:
Prior Service Cost (Credit)	0.7			0.7			0.7			(0.3		)	(0.3		)	(0.4		)
Actuarial Loss (Gain)	19.7			13.2			36.1			(1.6		)	(1.0		)	(1.1		)
Net Curtailment/Settlement Loss	1.5			0.8			—			—			—			—
Special Termination Benefit	—			—			1.2			—			—			—
Other	0.9			0.6			0.7			—			—			—
Net Periodic Cost	$	16.0		$	6.0		$	39.2		$	0.8		$	2.1		$	1.7

Schedule of Assumptions Used

Certain assumptions used in determining the pension and postretirement expenses were as follows:



	Pension Benefits						Postretirement Benefits
	Year Ended December 31,
	2015		2014		2013		2015		2014		2013
Weighted Average Assumptions:
Discount Rate	4.02	%	4.86	%	4.20	%	3.95	%	4.74	%	3.97	%
Rate of Increase in Future Compensation Levels	1.45	%	1.88	%	2.03	%	—		—		—
Expected Long-Term Rate of Return on Plan Assets	6.81	%	7.69	%	7.60	%	—		—		—
Initial Health Care Cost Trend Rate	—		—		—		7.38	%	7.50	%	9.00	%
Ultimate Health Care Cost Trend Rate	—		—		—		4.96	%	4.77	%	4.50	%
Ultimate Year	—		—		—		2036		2027		2023

Schedule of Net Funded Status

The following table sets forth the funded status of the Company’s pension and postretirement plans as of December 31:



	Pension Benefits						Postretirement Benefits
In millions	2015			2014			2015			2014
Change in Benefit Obligation:
Benefit Obligation at Beginning of Year	$	1,366.7		$	1,218.9		$	43.6		$	47.9
Service Cost	12.8			12.6			1.0			1.2
Interest Cost	54.8			57.9			1.7			2.2
Actuarial Loss (Gain)	(84.3		)	189.1			(5.4		)	(5.7		)
Foreign Currency Exchange	(16.9		)	(17.8		)	(0.2		)	—
Settlement/Curtailment Gain	(0.4		)	(1.8		)	—			—
Settlements	(61.1		)	(40.2		)	—			—
Benefits Paid	(55.9		)	(52.5		)	(2.8		)	(2.2		)
Acquisition	22.4			—			2.9			—
Other	0.9			0.5			—			0.2
Benefit Obligation at End of Year	$	1,239.0		$	1,366.7		$	40.8		$	43.6

Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Year	$	1,092.8		$	1,065.7		$	—		$	—
Actual Return on Plan Assets	3.0			82.9			—			—
Employer Contributions	53.4			52.2			2.8			2.2
Foreign Currency Exchange	(15.2		)	(15.3		)	—			—
Benefits Paid	(55.9		)	(52.5		)	(2.8		)	(2.2		)
Acquisition	21.7			—			—			—
Settlements	(61.1		)	(40.2		)	—			—
Other	0.2			—			—			—
Fair Value of Plan Assets at End of Year	$	1,038.9		$	1,092.8		$	—		$	—
Plan Assets Less than Projected Benefit Obligation	$	(200.1	)	$	(273.9	)	$	(40.8	)	$	(43.6	)

Amounts Recognized in the Consolidated Balance Sheets Consist of:
Pension Assets	$	10.4		$	0.1		$	—		$	—
Accrued Pension and Postretirement Benefits Liability — Current	$	(1.2	)	$	(2.1	)	$	(2.8	)	$	(2.7	)
Accrued Pension and Postretirement Benefits Liability — Noncurrent	$	(209.3	)	$	(271.9	)	$	(38.0	)	$	(40.9	)
Accumulated Other Comprehensive Income:
Net Actuarial Loss (Gain)	$	286.6		$	322.7		$	(20.1	)	$	(16.5	)
Prior Service Cost (Credit)	$	2.3		$	2.9		$	(1.6	)	$	(1.9	)
Weighted Average Calculations:
Discount Rate	4.41		%	4.02		%	4.29		%	3.95		%
Rates of Increase in Future Compensation Levels	1.49		%	1.45		%	—			—
Initial Health Care Cost Trend Rate	—			—			7.80		%	7.38		%
Ultimate Health Care Cost Trend Rate	—			—			4.50		%	4.96		%
Ultimate Year	—			—			2024			2036

Schedule of Allocation of Plan Assets

The weighted average allocation of plan assets and the target allocation by asset category is as follows:



	Target		2015		2014
Cash	—	%	1.1	%	2.6	%
Equity Securities	59.0		51.7		51.0
Fixed Income Securities	41.0		41.6		39.9
Other Investments	—		5.6		6.5
Total	100.0	%	100.0	%	100.0	%

Schedule of Fair Value of Plan Assets

The following tables set forth, by category and within the fair value hierarchy, the fair value of the Company’s pension assets at December 31, 2015 and 2014:



	Fair Value Measurements at December 31, 2015
In millions	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category:
Cash ^(a)	$	11.4	$	5.0	$	6.4	$	—
Equity Securities:
Domestic ^(a)	397.1		79.8		317.3		—
Foreign ^(a)	140.1		63.5		76.6		—
Fixed Income Securities ^(a)	431.8		172.9		258.9		—
Other Investments:
Real estate ^(a)	22.6		22.6		—		—
Diversified growth fund ^(b)	35.9		—		—		35.9
Total	$	1,038.9	$	343.8	$	659.2	$	35.9



	Fair Value Measurements at December 31, 2014
In millions	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category:
Cash ^(a)	$	28.8	$	2.3	$	26.5	$	—
Equity Securities:
Domestic ^(a)	379.8		77.7		302.1		—
Foreign ^(a)	177.7		62.8		114.9		—
Fixed Income Securities ^(a)	436.3		169.1		267.2		—
Other Investments:
Real estate ^(a)	21.8		—		21.8		—
Diversified growth fund ^(b)	48.4		—		48.4		—
Total	$	1,092.8	$	311.9	$	780.9	$	—

(a) The Level 2 investments are held in pooled funds and fair value is determined by net asset value, based on the underlying investments, as reported on the valuation date.

(b) The fund invests in a combination of traditional investments (equities, bonds, and foreign exchange), seeking to achieve returns through active asset allocation over a three to five year horizon.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

A reconciliation of fair value measurements of plan assets using significant unobservable inputs (Level 3) is as follows:




In millions	2015
Balance Beginning of Period	$	—
Transfers In	35.8
Return on Assets Held at December 31	0.1
Balance at December 31,	$	35.9

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage-point change in assumed health care cost trend rates would have the following effects on 2015 data:



	One Percentage Point
In millions	Increase		Decrease
Health Care Cost Trend Rate Sensitivity:
Effect on Total Interest and Service Cost Components	$	0.2	$	(0.1	)
Effect on Year-End Postretirement Benefit Obligation	$	1.8	$	(1.6	)

Schedule of Expected Benefit Payments

The following represents the Company’s estimated future pension and postretirement health care benefit payments through the year 2025:



In millions	Pension Plans		Postretirement Health Care Benefits
2016	$	59.1	$	2.8
2017	62.5		3.0
2018	65.1		3.1
2019	67.8		3.2
2020	70.3		3.4
2021— 2025	383.5		16.0

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

During 2016, amounts recorded in Accumulated Other Comprehensive Loss expected to be recognized in Net Periodic Benefit Costs are as follows:



In millions	Pension Benefits		Postretirement Health Care Benefits
Recognition of Prior Service Cost	$	0.8	$	(0.3	)
Recognition of Actuarial Loss (Gain)	19.2		(2.2		)

Schedule of Multiemployer Plans

The Company's participation in these plans for the year ended December 31, 2015, 2014 and 2013 is shown in the table below:



		Pension Protection Act Zone Status			Company Contributions (in millions)
Multi-employer Pension Fund	EIN/Pension Plan Number	2015	2014	FIP/RP Status Implemented	2015		2014		2013		Surcharged Imposed	Expiration Date of Bargaining Agreement
Central States Southeast and Southwest Areas Pension Fund	36-6044243/001	Red	Red	Yes	$	0.1	$	0.1	$	0.1	Yes	7/31/2018
PIUMPF ⁽¹⁾	11-6166763/001	Red	Red	Yes	—		0.3		0.4		Yes	9/30/2014
Western Conference of Teamsters Pension Trust - Northwest Area	91-6145047/001	Green	Green	No	0.1		0.1		0.1		No	4/30/2017
Total					$	0.2	$	0.5	$	0.6

⁽¹⁾ The facility associated with this plan was divested on June 30, 2014.