PENSION AND OTHER POST RETIREMENT BENEFIT PLANS

9 Months Ended

Sep. 30, 2012

General Discussion of Pension and Other Postretirement Benefits [Abstract]

PENSION AND OTHER POST RETIREMENT BENEFIT PLANS

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

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

	Three Months Ended September 30,										Nine Months Ended September 30,
	Pension Benefits						Other Benefits				Pension Benefits						Other Benefits
(In millions)	2012			2011			2012		2011		2012			2011			2012			2011
Service cost – benefits earned during the period	$	1.0		$	0.8		$	0.2	$	0.2	$	2.9		$	2.5		$	0.7		$	0.6
Interest cost on projected benefit obligations	3.8			4.2			0.4		0.3		11.7			12.7			1.0			1.0
Expected return on plan assets	(4.2		)	(4.2		)	—		—		(12.1		)	(13.3		)	—			—
Amortization of net actuarial loss	1.4			0.7			0.4		0.4		4.0			2.3			1.4			1.3
Amortization of prior service benefit	—			—			—		—		—			—			(0.1		)	(0.1		)
Net periodic benefit cost	$	2.0		$	1.5		$	1.0	$	0.9	$	6.5		$	4.2		$	3.0		$	2.8
Settlements	4.1			—			—		—		13.1			0.1			—			—
Total net periodic benefit cost	$	6.1		$	1.5		$	1.0	$	0.9	$	19.6		$	4.3		$	3.0		$	2.8

Settlements reflect 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 $13.1 million and zero for the nine months ended September 30, 2012 and 2011, respectively. Settlements are recognized as Other Expenses in the consolidated statements of earnings.

For the nine months ended September 30,2012, the Company contributed $24.9 million to its pension plans. The majority of the contribution was to the U.S. pension plan.