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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosure
The net asset/liability for defined benefit plans is presented within Other non-current assets and is comprised of the following (in millions):
 
As of December 31, 2019
 
As of December 31, 2018
Present value of funded obligations
$
(209.2
)
 
$
(182.9
)
Fair value of defined benefit plan assets
223.9

 
188.2

Net asset/(liability)
$
14.7

 
$
5.3
Schedule of Changes in Net Liability for Defined Benefit Plans
Changes in the net asset/ liability for defined benefit plans were as follows (in millions):
 
As of December 31, 2019
 
As of December 31, 2018
Change in pension benefit obligations:
 
 
 
Balance at beginning of year
$
(182.9
)
 
$
(222.6
)
Service cost
(0.3
)
 
—

Interest cost
(5.2
)
 
(5.1
)
Actuarial gains (losses)
(20.8
)
 
17.2

Benefits paid
8.7

 
14.3

Foreign exchange movement
(8.7
)
 
13.3

Balance at end of year
(209.2
)
 
(182.9
)
 
 
 
 
Change in pension plan assets:
 
 
 
Balance at beginning of year
188.2

 
213.6

Actual return on plan assets
30.2

 
(7.5
)
Employer contributions
5.3

 
9.5

Benefits paid
(8.7
)
 
(14.3
)
Foreign exchange movement
8.9

 
(13.1
)
Balance at end of year
223.9

 
188.2

 
 
 
 
Over funded status at end of year
$
14.7

 
$
5.3
Schedule of Net Periodic Benefit Costs
Total amounts recognized in the consolidated statements of operations were as follows (in millions):
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Service and other cost
$
(0.3
)
 
$
—

 
$
(2.6
)
Interest cost
(5.2
)
 
(5.1
)
 
(7.2
)
Expected return on assets
7.9

 
8.4

 
8.9

Curtailments, settlements and terminations
—

 
—

 
9.6

Amortization of net loss
(0.1
)
 
(0.1
)
 
(0.3
)
Net periodic pension benefit
$
2.3

 
$
3.2

 
$
8.4
Schedule of Actuarial Gains and Losses Recognized in Accumulated other Comprehensive Loss
Total actuarial gains and losses recognized in Accumulated other comprehensive loss were as follows (in millions):
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Cumulative actuarial (losses) gains at beginning of year
$
(3.4
)
 
$
(6.4
)
 
$
(10.8
)
Actuarial gains (losses) recognized during the period, net of tax1
2.2

 
1.8

 
3.3

Amortization of net loss
0.1

 
0.1

 
0.3

Curtailments, settlements and terminations
—

 
—

 
2.1

Foreign exchange movement
(0.2
)
 
1.1

 
(1.3
)
Cumulative actuarial losses at end of year
$
(1.3
)
 
$
(3.4
)
 
$
(6.4
)
(1) Actuarial (losses) gains recognized are reported net of tax benefit (expense) of $0.8 million, $0.6 million and $(1.1) million for the years ended December 31, 2019, 2018 and 2017 respectively.
Schedule of Assumptions Used
Principal actuarial assumptions
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Discount rate
2.4%
 
2.9%
 
2.4%
Expected return on plan assets
3.4%
 
4.2%
 
4.3%
The Company evaluates these assumptions on a regular basis taking into consideration current market conditions and historical market data. A lower discount rate would increase the present value of the benefit obligation. Other changes in actuarial assumptions, such as plan participants’ life expectancy, can also have a material impact on the net benefit obligation.
Major categories of plan assets:
Year Ended December 31, 2019
 
Year Ended December 31, 2018
Equity instruments
34%
 
43%
Debt, cash and other instruments
66%
 
57%
Total - Major categories of plan assets
100%
 
100%
Schedule of Expected Benefit Payments
Expected future benefit payments for the defined benefit pension plans are as follows (in millions):
 
Year Ending
December 31,
2020
$
7.6

2021
7.5

2022
7.7

2023
8.4

2024
8.6

From 2024 to 2028
44.3