Pension And Other Benefit Plans - (Tables)

12 Months Ended

Dec. 31, 2019

Defined Benefit Plan Disclosure [Line Items]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table summarizes the changes in Level 3 pension plan assets measured at fair value on a recurring basis for the year ended December 31, 2019 (in million

The following table summarizes the changes in Level 3 pension plan assets measured at fair value on a recurring basis for the year ended December 31, 2018 (in millions):

	Fair Value at January 1		Return on Plan Assets		Net Purchases/(Settlements)			Transfers Into/(Out of) Level 3		Fair Value at December 31
Insurance contracts	$	82.4	$	—	$	(13.2	)	$	—	$	69.2

Defined benefit pension plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Funded Status

The following sets forth the funded status of the Company’s plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):

	Pension Benefits
	2019			2018
Change in pension benefit obligation:
Benefit obligation at beginning of year	$	(140.0	)	$	(165.6	)
Service cost	(9.1		)	(10.0		)
Interest cost	(2.4		)	(2.0		)
Employee contributions	(4.2		)	(4.2		)
Benefits and other expenses paid	6.2			7.2
Actuarial (loss) gain	(37.7		)	12.3
Amendments, settlements and curtailments	(5.6		)	18.7
Foreign exchange rate impact	(3.0		)	3.6
Benefit obligation at end of year	(195.8		)	(140.0		)
Change in plan assets:
Fair value of plan assets at beginning of year	90.2			106.5
Actual return on plan assets	7.7			0.3
Employer contributions	8.2			7.5
Employee contributions	4.2			4.2
Amendments and settlements	0.8			(18.6		)
Benefits and other expenses paid	(6.2		)	(7.2		)
Foreign exchange rate impact	2.4			(2.5		)
Fair value of plan assets at end of year	107.3			90.2
Funded status	$	(88.5	)	$	(49.8	)

Defined Benefit Plan, Assumptions

Weighted average assumptions used to determine net periodic pension cost at date of measurement: 

	December 31,
	2019		2018
Discount rate	1.8	%	1.3	%
Expected long-term return on plan assets	3.5	%	3.6	%
Rate of compensation increase	1.3	%	1.3	%

Weighted average assumptions used to determine benefit obligations at date of measurement:

	December 31,
	2019		2018
Discount rate	1.0	%	1.3	%
Rate of compensation increase	1.3	%	1.3	%

Schedule of Net Benefit Costs

Components of net periodic pension cost:

	December 31,
($ in millions)	2019			2018
Service cost	$	(9.1	)	$	(10.0	)
Interest cost	(2.4		)	(2.0		)
Expected return on plan assets	3.2			3.8
Amortization of initial net obligation	(0.2		)	(0.2		)
Amortization of prior service credit	—			0.1
Amortization of actuarial loss	(0.4		)	(0.8		)
Settlement gain	1.3			1.8
Net periodic pension cost	$	(7.6	)	$	(7.3	)

Schedule of Defined Benefit Plans Disclosures

The net periodic benefit cost of the defined benefit pension plans incurred during the years ended December 31, 2019, 2018 and 2017 are reflected in the following captions in the accompanying Consolidated and Combined Statements of Income ($ in millions):

	Year Ended December 31,
	2019			2018			2017
Service cost:
Selling, general and administrative expenses	$	(9.1	)	$	(10.0	)	$	(8.0	)
Other net periodic pension costs:
Nonoperating income (expense), net	1.5			2.7			0.1
Total	$	(7.6	)	$	(7.3	)	$	(7.9	)

Schedule of Allocation of Plan Assets

The fair values of the Company’s pension plan assets as of December 31, 2019, by asset category, were as follows ($ in millions):

	Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	0.3	$	—	$	—	$	0.3
Fixed income securities:
Corporate bonds	—		6.9		—		6.9
Insurance contracts	—		—		82.7		82.7
Total	$	0.3	$	6.9	$	82.7	$	89.9
Investments measured at NAV (a):
Mutual funds							17.4
Total assets at fair value							$	107.3

______________

^(a)  The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.

The following table summarizes the changes in Level 3 pension plan assets measured at fair value on a recurring basis for the year ended December 31, 2019 (in millions):

	Fair Value at January 1		Return on Plan Assets		Net Purchases/(Settlements)		Transfers Into/(Out of) Level 3		Fair Value at December 31
Insurance contracts	$	69.2	$	5.4	$	8.1	$	—	$	82.7

The fair values of the Company’s pension plan assets as of December 31, 2018, by asset category, were as follows ($ in millions):

	Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	0.3	$	—	$	—	$	0.3
Fixed income securities:
Corporate bonds	—		5.0		—		5.0
Insurance contracts	—		—		69.2		69.2
Total	$	0.3	$	5.0	$	69.2	$	74.5
Investments measured at NAV (a):
Mutual funds							15.7
Total assets at fair value							$	90.2

______________

^(a) 

The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.

Schedule of Expected Benefit Payments

The following sets forth benefit payments, which reflect expected future service, as appropriate, at December 31, 2019, are expected to be paid by the plans in the periods indicated ($ in millions):

2020	$	8.5
2021	7.5
2022	7.2
2023	6.7
2024	6.7
2025 - 2029	30.8