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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Postemployment Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following table reflects the estimated future benefit payments for our pension and other postretirement benefit plans. These estimates take into consideration expected future service, as appropriate.
In millions
Pensions
 
Other Benefits
2018
$
0.3

 
$
—

2019
0.5

 
$
—

2020
0.6

 
—

2021
0.8

 
—

2022
0.9

 
—

2023-2027
$
6.5

 
$
0.2

The following table summarizes the weighted average assumptions used and components of our defined benefit postretirement plans. The following tables also reflect a measurement date of December 31:
 
Pensions
 
Other Benefits
 
December 31,
In millions, except percentages
2017
 
2016
 
2017
 
2016
Following are the weighted average assumptions used to determine the benefit obligations at December 31:
 
 
 
 
 
 
 
Discount rate - qualified benefit plans
3.55
%
 
4.10
%
 
—
%
 
—
%
Discount rate - non-qualified benefit plans
3.55
%
 
4.15
%
 
3.45
%
 
3.95
%
Rate of compensation increase
N/A
 
N/A
 
N/A
 
N/A
Change in projected benefit obligation
 
 
 
 
 
 
 
Project benefit obligation at beginning of period (1)
$
24.4

 
$
24.2

 
$
0.7

 
$
0.8

Service cost
1.2

 
0.7

 
—

 
—

Interest cost
1.0

 
0.6

 
—

 
—

Actuarial loss (gain)
2.0

 
(1.1
)
 
0.1

 
(0.1
)
Plan amendments
0.6

 
—

 
—

 
—

Benefit payments
(0.4
)
 
—

 
—

 
—

Projected benefit obligation at December 31 (2)
28.8

 
24.4

 
0.8

 
0.7

Change in plan assets
 
 
 
 
 
 
 
Fair value of plan asset at beginning of period (1)
19.2

 
19.8

 
—

 
—

Actual return on plan assets
2.4

 
(1.6
)
 
—

 
—

Company contributions
1.4

 
1.0

 
—

 
—

Benefit payments
(0.4
)
 
—

 
—

 
—

Fair value of plan assets at December 31
22.6

 
19.2

 
—

 
—

Funded Status
 
 
 
 
 
 
 
Net Funded Status of the Plan (Liability)
$
(6.2
)
 
$
(5.2
)
 
$
(0.8
)
 
$
(0.7
)
 
 
 
 
 
 
 
 
Amount recognized in the consolidated balance sheets:
 
 
 
 
 
 
 
Pension and other postretirement benefit asset (3)
$
—

 
$
—

 
$
—

 
$
—

Pension and other postretirement benefit (liability) (3)
(6.2
)
 
(5.2
)
 
(0.8
)
 
(0.7
)
Total Net Funded Status of the Plan (Liability)
$
(6.2
)
 
$
(5.2
)
 
$
(0.8
)
 
$
(0.7
)
_______________
(1)
Beginning of period is January 1, 2017 and May 16, 2016 for 2017 and 2016, respectively.
(2)
The accumulated benefit obligation for all years presented equals the projected benefit obligation, for each plan respectively.
(3)
Asset balance is included in "Other assets" and liability balances are included in "Other liabilities" on the consolidated balance sheet.












Amounts Recognized in Other Comprehensive Income (Loss)

Changes in plan assets and benefit obligations recognized in other comprehensive income (loss) are as follows:
 
Pensions
 
Other Benefits
 
Years Ended December 31,
In millions
2017
 
2016
 
2017
 
2016
Current year net actuarial loss (gain)
$
1.1

 
$
0.9

 
$
0.1

 
$
(0.1
)
Current year prior service cost (credit)
—

 
0.1

 
—

 
—

Total recognized in other comprehensive (income) loss, before taxes
1.1

 
1.0

 
0.1

 
(0.1
)
Total recognized in other comprehensive (income) loss, after taxes
$
0.7

 
$
0.5

 
$
—

 
$
0.1

_______________
(1)
This also represents the accumulated other comprehensive income (loss), net of tax as of December 31, 2017 and 2016.
The following table summarizes the weighted-average assumptions used for the components of net annual benefit cost:
 
Pensions
 
Other Benefits
 
Years Ended December 31,
In millions, except percentages
2017
 
2016
 
2017
 
2016
Discount rate - qualified benefit plans (1)
4.10
%
 
4.00
%
 
—
%
 
—
%
Discount rate - non-qualified benefit plans (1)
4.15
%
 
3.75
%
 
3.95
%
 
3.75
%
Expected return on plan assets
4.50
%
 
4.50
%
 
N/A
 
N/A
Components of net annual benefit cost:
 
 
 
 
 
 
 
Service cost(2)
$
1.2

 
$
0.7

 
$
—

 
$
—

Interest cost(3)
1.0

 
0.6

 
—

 
—

Expected return on plan assets(3)
(0.9
)
 
(0.6
)
 
—

 
—

Amortization of prior service cost(3)
—

 
—

 
—

 
—

Amortization of net actuarial and other (gain) loss(3)
—

 
—

 
—

 
—

Net annual benefit cost
$
1.3

 
$
0.7

 
$
—

 
$
—

_______________
(1)
The discount rate used to calculate pension and other post-retirement obligations was based on a review of available yields on high-quality corporate bonds. In selecting a discount rate, we placed particular emphasis on a discount rate yield-curve provided by our third-party actuary which takes into consideration the projected cash flows that represent the expected timing and amount of our plans' benefit payments.
(2)
Amounts are recorded to "Cost of sales" on our consolidated statements of operations consistent with the employee compensation costs that participate in the plan.
(3)
Amounts are recorded to "Other (income) expense, net" on our consolidated statements of operations.
Fair Value, Assets Measured on Recurring Basis
The following table presents our fair value hierarchy for our major categories of pension plan assets by asset class. See Note 5 for the definition of fair value and the descriptions of Level 1, 2 and 3 in the fair value hierarchy. 
In millions
December 31, 2017
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs
(Level 3)
Cash and short-term investments
$
0.5

 
$
0.5

 
$
—

 
$
—

Equity funds and other investments
2.7

 
2.7

 
—

 
—

Fixed income mutual funds
19.4

 
1.4

 
18.0

 
—

Total assets
$
22.6

 
$
4.6

 
$
18.0

 
$
—

 
 
 
 
 
 
 
 
In millions
December 31, 2016
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs
(Level 3)
Cash and short-term investments
$
0.4

 
$
0.4

 
$
—

 
$
—

Equity funds and other investments
2.3

 
2.3

 
—

 
—

Fixed income mutual funds
16.5

 
1.1

 
15.4

 
—

Total assets
$
19.2

 
$
3.8

 
$
15.4

 
$
—