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PENSION AND OTHER POST RETIREMENT BENEFIT PLANS
9 Months Ended
Sep. 30, 2011
PENSION AND OTHER POST RETIREMENT BENEFIT PLANS 
PENSION AND OTHER POST RETIREMENT BENEFIT PLANS

7.             PENSION AND OTHER POST RETIREMENT BENEFIT PLANS

 

The net periodic benefit cost of the Company’s defined benefit pension and post retirement benefit plans included:

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

Pension Benefits

 

Other Benefits

 

Pension Benefits

 

Other Benefits

 

(In millions)

 

2011

 

2010

 

2011

 

2010

 

2011

 

2010

 

2011

 

2010

 

Service cost — benefits earned during the period

 

$

0.8

 

$

0.7

 

$

0.2

 

$

0.2

 

$

2.5

 

$

2.1

 

$

0.6

 

$

0.7

 

Interest cost on projected benefit obligations

 

4.2

 

4.4

 

0.3

 

0.2

 

12.7

 

13.3

 

1.0

 

0.8

 

Expected return on plan assets

 

(4.2

)

(4.0

)

 

 

(13.3

)

(12.1

)

 

 

Amortization of net actuarial loss

 

0.7

 

0.8

 

0.4

 

0.4

 

2.3

 

2.2

 

1.3

 

0.9

 

Amortization of prior service (benefit)

 

 

 

 

(0.1

)

 

 

(0.1

)

(0.1

)

Net periodic benefit cost

 

$

1.5

 

$

1.9

 

$

0.9

 

$

0.7

 

$

4.2

 

$

5.5

 

$

2.8

 

$

2.3

 

Settlements

 

 

9.1

 

 

 

0.1

 

9.1

 

 

 

Total net periodic benefit cost

 

$

1.5

 

$

11.0

 

$

0.9

 

$

0.7

 

$

4.3

 

$

14.6

 

$

2.8

 

$

2.3

 

 

Settlements reflected the recognition of losses that were previously deferred within accumulated other comprehensive income (loss) attributable to plan participants who have received lump sum distributions during the plan year. Recognition of settlements is triggered when the amount paid for lump sum distributions from a plan exceeds the sum of service and interest cost for the plan year. For the U.S. pension plan, losses reclassified to settlements were zero and $9.1 million for the periods ended September 30, 2011 and 2010, respectively.