Pension and Other Postretirement Benefits

9 Months Ended

Oct. 01, 2011

Pension and Other Postretirement Benefits [Abstract]

Pension and Other Postretirement Benefits

Note 14 – Pension and Other Postretirement Benefits

The Company has defined contribution plans, qualified and nonqualified pension plans, and other postretirement benefit plans covering substantially all of its employees.  The Company's contributions to its defined contribution plans are largely discretionary and are based on various percentages of compensation, and in some instances are based on the amount of the employees' contributions to the plans.  See Note 15 to the consolidated financial statements in the Company's 2010 Form 10-K for further details regarding these plans.

Pension and other postretirement benefit costs included the following components for the three months ended October 1, 2011 and October 2, 2010:

	Pension Benefits						Other Postretirement Benefits
	Three Months Ended						Three Months Ended
(in millions)	October 1, 2011			October 2, 2010			October 1, 2011			October 2, 2010
Service cost	$	0.3		$	0.3		$	-		$	0.1
Interest cost		15.6			16.3			0.8			0.9
Expected return on plan assets		(13.3	)		(12.4	)		-			-
Amortization of prior service costs (credits)		0.1			0.1			(1.5	)		(0.9	)
Amortization of net actuarial loss		5.2			5.5			0.3			-
Net pension and other benefit costs	$	7.9		$	9.8		$	(0.4	)	$	0.1

Pension and other postretirement benefit costs included the following components for the nine months ended October 1, 2011 and October 2, 2010:

	Pension Benefits						Other Postretirement Benefits
	Nine Months Ended						Nine Months Ended
(in millions)	October 1, 2011			October 2, 2010			October 1, 2011			October 2, 2010
Service cost	$	0.9		$	0.8		$	0.2		$	0.3
Interest cost		46.8			48.7			2.5			2.9
Expected return on plan assets		(39.9	)		(37.1	)		-			-
Amortization of prior service costs (credits)		0.2			0.3			(3.7	)		(2.9	)
Amortization of net actuarial loss		16.0			16.6			0.7			-
Curtailment loss		0.3			-			-			-
Net pension and other benefit costs	$	24.3		$	29.3		$	(0.3	)	$	0.3

Employer Contributions and Benefit Payments. During the nine months ended October 1, 2011 and October 2, 2010, the Company contributed $2.6 million and $2.4 million, respectively, to fund benefit payments to its nonqualified pension plan.  During the nine months ended October 1, 2011 and October 2, 2010, the Company contributed $40.0 million and $14.8 million, respectively, to its qualified pension plans.  Company contributions are subject to change based on market conditions, pension funding regulations and Company discretion.