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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Accumulated Other Comprehensive Income (Loss) Pretax Amounts Not Yet Reclassified in Net Periodic Benefit Cost
Included in accumulated other comprehensive loss as of December 31, 2016 and 2015 are:
 
Pension Benefits
 
Other Postretirement Benefits
 
December 31,
 
December 31,
(In millions)
2016
 
2015
 
2016
 
2015
Unrecognized actuarial (gains) losses
$
(9.1
)
 
$
13.5

 
$
5.9

 
$
5.6

Unrecognized prior service costs
2.0

 
3.0

 
—

 
—

Total
$
(7.1
)
 
$
16.5

 
$
5.9

 
$
5.6
Change in Accumulated Income (Loss) Relating to Defined Benefit Pension and Other Postretirement Benefits
The decrease in accumulated other comprehensive loss in 2016 relating to pension benefits and other postretirement benefits consists of:
(In millions)
Pension Benefits
 
Other Postretirement Benefits
Unrecognized actuarial (gain)/loss
$
(24.1
)
 
$
0.7

Amortization of actuarial (gain)/loss
(1.1
)
 
(0.3
)
Unrecognized prior service costs
(0.6
)
 
—

Amortization of prior service costs
(0.4
)
 
—

Impact of foreign currency translation
0.4

 
—

Net change
$
(25.8
)
 
$
0.4
Net Periodic Benefit Cost
Components of net periodic benefit cost for the years ended December 31, 2016, 2015 and 2014 were as follows:
 
Pension Benefits
 
Other Postretirement Benefits
 
December 31,
 
December 31,
(In millions)
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost
$
17.4

 
$
11.9

 
$
5.0

 
$
0.6

 
$
0.6

 
$
0.5

Interest cost
8.2

 
4.0

 
2.6

 
1.3

 
1.1

 
1.0

Expected return on plan assets
(10.9
)
 
(6.4
)
 
(1.7
)
 
—

 
—

 
—

Plan curtailment, settlement and termination
(2.4
)
 
1.1

 
0.2

 
—

 
—

 
—

Amortization of prior service costs
0.3

 
0.3

 
0.3

 
—

 
—

 
—

Recognized net actuarial losses
0.8

 
0.9

 
0.6

 
0.3

 
0.3

 
0.1

Net periodic benefit cost
$
13.4

 
$
11.8

 
$
7.0

 
$
2.2

 
$
2.0

 
$
1.6
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The table below presents components of the change in projected benefit obligation, change in plan assets and funded status at December 31, 2016 and 2015.
 
Pension Benefits
 
Other Postretirement Benefits
(In millions)
2016
 
2015
 
2016
 
2015
Change in Projected Benefit Obligation
 
 
 
 
 
 
 
Projected benefit obligation, beginning of year
$
234.4

 
$
75.7

 
$
26.0

 
$
26.2

Service cost
17.4

 
11.9

 
0.6

 
0.6

Interest cost
8.2

 
4.0

 
1.3

 
1.1

Participant contributions
1.1

 
0.8

 
0.2

 
0.1

Transferred liabilities
2.1

 
0.4

 
—

 
—

Acquisitions
441.2

 
166.1

 
11.1

 
—

Plan settlements and terminations
(7.9
)
 
(2.5
)
 
—

 
—

Actuarial losses (gains)
(28.6
)
 
(5.9
)
 
0.7

 
(0.1
)
Benefits paid
(17.8
)
 
(8.9
)
 
(1.9
)
 
(1.9
)
Impact of foreign currency translation
(17.2
)
 
(7.2
)
 
—

 
—

Projected benefit obligation, end of year
$
632.9

 
$
234.4

 
$
38.0

 
$
26.0

 
 
 
 
 
 
 
 
Change in Plan Assets
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
$
162.0

 
$
33.2

 
$
—

 
$
—

Actual return on plan assets
6.1

 
(0.8
)
 
—

 
—

Company contributions
17.4

 
11.3

 
1.8

 
1.7

Participant contributions
1.1

 
0.8

 
0.1

 
0.1

Acquisitions
128.6

 
131.7

 
—

 
—

Transferred assets
2.1

 
0.4

 
—

 
—

Plan settlements
(4.0
)
 
(2.7
)
 
—

 
—

Benefits paid
(17.8
)
 
(8.9
)
 
(1.9
)
 
(1.9
)
Other
(0.8
)
 
—

 
—

 
0.1

Impact of foreign currency translation
(3.0
)
 
(3.0
)
 
—

 
—

Fair value of plan assets, end of year
291.7

 
162.0

 
—

 
—

Funded status of plans
$
(341.2
)
 
$
(72.4
)
 
$
(38.0
)
 
$
(26.0
)
Net Accrued Benefit Costs Classification on Balance Sheet
Net accrued benefit costs for pension plans and other postretirement benefits are reported in the following components of the Company’s Consolidated Balance Sheets at December 31, 2016 and 2015:
 
Pension Benefits
 
Other Postretirement Benefits
 
December 31,
 
December 31,
(In millions)
2016
 
2015
 
2016
 
2015
Noncurrent assets
$
3.4

 
$
0.5

 
$
—

 
$
—

Current liabilities
(9.8
)
 
(2.8
)
 
(1.9
)
 
(1.2
)
Noncurrent liabilities
(334.8
)
 
(70.1
)
 
(36.1
)
 
(24.8
)
Net accrued benefit costs
$
(341.2
)
 
$
(72.4
)
 
$
(38.0
)
 
$
(26.0
)
Plans with Accumulated Benefit Obligation in Excess of Plan Assets
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with an accumulated benefit obligation in excess of the fair value of plan assets at December 31, 2016 and 2015 were as follows:
 
December 31,
(In millions)
2016
 
2015
Plans with accumulated benefit obligation in excess of plan assets:
 
 
 
Accumulated benefit obligation
$
471.7

 
$
136.8

Projected benefit obligation
493.7

 
147.3

Fair value of plan assets
164.3

 
81.5
Schedule of Allocation of Plan Assets
The table below presents total plan assets by investment category as of December 31, 2016 and 2015 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value:
 
December 31, 2016
(In millions)
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents
$
0.8

 
$
0.3

 
$
—

 
$
1.1

Equity securities
94.5

 
37.8

 
—

 
132.3

Fixed income securities
59.5

 
39.6

 
—

 
99.1

Assets held by insurance companies and other
8.7

 
19.2

 
31.3

 
59.2

Total
$
163.5

 
$
96.9

 
$
31.3

 
$
291.7

 
December 31, 2015
(In millions)
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents
$
1.7

 
$
—

 
$
—

 
$
1.7

Equity securities
6.2

 
78.7

 
—

 
84.9

Fixed income securities
3.5

 
51.1

 
—

 
54.6

Assets held by insurance companies and other
8.6

 
9.2

 
3.0

 
20.8

Total
$
20.0

 
$
139.0

 
$
3.0

 
$
162.0
Schedule of Assumptions Used
The following weighted average assumptions were used to determine the benefit obligations for the Company’s defined benefit pension and other postretirement plans as of December 31, 2016 and 2015:
 
Pension Benefits
 
Other Postretirement Benefits
 
2016
 
2015
 
2016
 
2015
Discount rate
2.2
%
 
2.1
%
 
4.2
%
 
4.3
%
Expected return on plan assets
4.9
%
 
4.9
%
 
—
%
 
—
%
Rate of compensation increase
2.8
%
 
5.5
%
 
—
%
 
—
%
The following weighted average assumptions were used to determine the net periodic benefit cost for the Company’s defined benefit pension and other postretirement benefit plans for the three years in the period ended December 31, 2016:
 
Pension Benefits
 
Other Postretirement Benefits
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate
2.1
%
 
2.3
%
 
4.1
%
 
4.3
%
 
4.0
%
 
4.8
%
Expected return on plan assets
4.9
%
 
4.5
%
 
5.6
%
 
—
%
 
—
%
 
—
%
Rate of compensation increase
3.2
%
 
5.2
%
 
6.9
%
 
—
%
 
—
%
 
—
%
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
If these 2017 healthcare cost trend rates were increased or decreased by one percentage point per year, such increase or decrease would have the following effects:
(In millions)
Increase
 
Decrease
Increase (decrease) in the projected benefit obligation
$
1.7

 
$
(1.4
)
Increase in the aggregate of service and interest cost components of annual expense
0.1

 
—
Schedule of Expected Benefit Payments
Estimated benefit payments over the next ten years for the Company’s pension plans and retiree health plan are as follows:
(In millions)
Pension Benefits
 
Other Postretirement Benefits
2017
$
28.5

 
$
1.9

2018
29.5

 
2.4

2019
30.2

 
2.1

2020
33.6

 
2.5

2021
34.6

 
2.0

Thereafter
184.2

 
12.3

Total
$
340.6

 
$
23.2