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Pension And Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2019

Pension And Other Postretirement Benefits [Abstract]



	Pension Benefits				Postretirement Benefits
		2019		2018		2019		2018
Change in Benefit Obligation:
Benefit obligation at beginning of period	$	708.8	$	756.3	$	72.5	$	76.8
Service cost		25.6		28.6		2.0		2.3
Interest cost		30.0		27.3		2.9		2.6
Actuarial loss (gain)		117.0		(57.7)		3.0		(5.2)
Benefits paid from plan assets		(52.3)		(42.5)		—		—
Benefits paid from Company assets		(1.7)		(1.6)		(5.8)		(5.6)
Plan participants' contributions		—		—		1.4		1.6
Administrative expenses paid		(2.3)		(1.6)		—		—
Plan amendments		—		—		0.2		—
Benefit Obligation at End of Period		825.1		708.8		76.2		72.5
Change in Plan Assets:
Fair value of plan assets at beginning of period		588.3		585.4		—		—
Actual return on plan assets		114.7		(33.0)		—		—
Employer contributions^(A)		11.7		81.6		4.4		4.0
Plan participants' contributions		—		—		1.4		1.6
Benefits paid^(A)		(54.0)		(44.1)		(5.8)		(5.6)
Administrative expenses paid		(2.3)		(1.6)		—		—
Fair Value of Plan Assets at End of Period		658.4		588.3		—		—
Unfunded Status	$	166.7	$	120.5	$	76.2	$	72.5

^(A)Includes $1.7 million and $1.6 million paid from our assets for unfunded nonqualified pension benefits in fiscal years 2019 and 2018, respectively.

Schedule Of Amounts Recognized In Balance Sheet



	Pension Benefits				Postretirement Benefits
		2019		2018		2019		2018
Current accrued benefit cost	$	2.1	$	1.9	$	6.8	$	5.8
Non-current accrued benefit cost		164.6		118.6		69.4		66.7
Net amount recognized	$	166.7	$	120.5	$	76.2	$	72.5

Schedule Of Amounts Recognized In Accumulated Other Comprensive Income (Loss)



	Pension Benefits				Postretirement Benefits
		2019		2018		2019		2018
Net actuarial loss	$	232.4	$	219.6	$	10.4	$	8.3
Prior service cost (gain)		—		—		0.1		—
Accumulated other comprehensive loss	$	232.4	$	219.6	$	10.5	$	8.3

Schedule Of Amounts In Accumulated Other Comprehensive Income (Loss) To Be Recognized Over Next Fiscal Year



	Pension Benefits		Postretirement Benefits
Net actuarial loss	$	21.5	$	0.5
Accumulated other comprehensive loss	$	21.5	$	0.5

Schedule Of Assumptions Used



	Pension Benefits				Postretirement Benefits
	2019		2018		2019		2018
Discount rate	3.38	%	4.31	%	3.19	%	4.16	%
Rate of compensation increase	4.36	%	4.49	%	—		—
Healthcare cost trend on covered charges	—		—		5.00	%	5.00	%

Schedule Of Net Periodic Benefit Costs

The net periodic benefit cost for the years ended December 31, 2019, 2018, and 2017 included the following components:



		Pension Benefits					Postretirement Benefits
Components of Net Periodic Benefit Cost	2019		2018		2017		2019		2018		2017
Selling, general, and administrative expenses:
Service cost	$	25.6	$	28.6	$	26.4	$	2.0	$	2.3	$	2.3
Total selling, general, and administrative expenses	$	25.6	$	28.6	$	26.4	$	2.0	$	2.3	$	2.3
Non-operating expenses:
Interest cost		30.0		27.3		27.8		2.9		2.6		2.9
Expected return on plan assets		(34.1)		(31.9)		(30.6)		—		—		—
Amortization of:
Net actuarial loss		19.1		26.5		21.5		0.3		0.9		0.8
Prior service cost (gain)		—		0.3		0.4		—		(2.0)		(2.2)
Total non-operating expenses	$	15.0	$	22.2	$	19.1	$	3.2	$	1.5	$	1.5
Net periodic benefit cost	$	40.6	$	50.8	$	45.5	$	5.2	$	3.8	$	3.8

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 were:



	Pension Benefits						Postretirement Benefits
	2019		2018		2017		2019		2018		2017
Discount rate	4.31	%	3.67	%	4.15	%	4.16	%	3.44	%	3.78	%
Expected return on plan assets	5.75	%	5.75	%	5.75	%	—		—		—
Rate of compensation increase	4.36	%	4.49	%	4.52	%	—		—		—
Healthcare cost trend on covered charges	—		—		—		5.00	%	5.50% / 5.00%		6.00% / 5.00%

Schedule Of Expected Benefit Payments



Year	Pension ‎Benefits		Postretirement ‎Benefits
2020	$	62.0	$	6.9
2021		58.3		7.5
2022		58.2		7.7
2023		59.2		7.5
2024		59.1		7.3
2025 to 2029		296.8		33.0

Schedule Of Allocation Of Plan Assets



Investment	2019 ‎Actual ‎Allocation		2019 ‎Target ‎Allocation ‎Range	2018 ‎Actual ‎Allocation		2018 ‎Target ‎Allocation ‎Range
Equity securities-U.S.	6	%	3-10 %	5	%	3-15 %
Equity securities-International	9	%	2-10 %	8	%	3-15 %
Fixed income investments	68	%	40-80 %	71	%	38-85 %
Hedge funds	5	%	2-8 %	5	%	5-15 %
Private markets	4	%	0-15 %	4	%	3-13 %
Other investments	8	%	0-14 %	7	%	0-10 %
Short-term investments	—	%	1-10 %	—	%	0-3 %
Total	100	%	100 %	100	%	100 %

Schedule Of Changes In Fair Value Of Plan Assets

The following tables set forth, by level within the fair value hierarchy, the Pension Plan assets measured at fair value as of December 31, 2019 and 2018:



December 31, 2019
Investment	Investments ‎Measured at ‎NAV		Level 1		Level 2		Level 3		Total
Equity securities - U.S.	$	14.0	$	26.0	$	—	$	—	$	40.0
Equity securities - International		20.7		37.9		—		—		58.6
Fixed income investments		312.7		135.2		—		—		447.9
Hedge funds		32.0		—		—		—		32.0
Private markets		17.0		—		—		11.0		28.0
Other investments		17.7		20.4		—		11.4		49.5
Short-term investments		2.4		—		—		—		2.4
Total	$	416.5	$	219.5	$	—	$	22.4	$	658.4



December 31, 2018
Investment	Investments ‎Measured at ‎NAV		Level 1		Level 2		Level 3		Total
Equity securities - U.S.	$	10.7	$	19.3	$	—	$	—	$	30.0
Equity securities - International		—		47.6		—		—		47.6
Fixed income investments		291.7		124.9		—		—		416.6
Hedge funds		30.7		—		—		—		30.7
Private markets		16.3		—		—		6.0		22.3
Other investments		18.2		15.9		—		4.4		38.5
Short-term investments		2.6		—		—		—		2.6
Total	$	370.2	$	207.7	$	—	$	10.4	$	588.3

The tables below set forth a summary of changes in the fair value of the Pension Plan's Level 3 assets for the years ended December 31, 2019 and 2018:



December 31, 2019
	Private Markets		Other Investments		Total
Balance, beginning of year	$	6.0	$	4.4	$	10.4
Realized gains		0.1		—		0.1
Unrealized gains		0.7		0.8		1.5
Purchases		4.4		6.8		11.2
Sales		(0.2)		(0.6)		(0.8)
Balance, end of year	$	11.0	$	11.4	$	22.4



December 31, 2018
	Private Markets		Other Investments		Total
Balance, beginning of year	$	3.8	$	3.9	$	7.7
Realized gains		0.1		—		0.1
Purchases		3.2		0.9		4.1
Sales		(1.1)		(0.4)		(1.5)
Balance, end of year	$	6.0	$	4.4	$	10.4