XML 78 R63.htm IDEA: XBRL DOCUMENT v3.22.0.1
Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Summary of Funded Status of Postretirement Benefit Plans and Presentation of Such Balances within Consolidated Balance Sheet
The following table provides a summary of the funded status of our postretirement benefit plans and the presentation of the funded status within our Consolidated Balance Sheet as of December 31, 2021 and 2020.
 20212020
PensionOther
Benefits		TotalPensionOther
Benefits		Total
Fair value of plan assets$0.5 $— $0.5 $0.5 $— $0.5 
Projected benefit obligation107.9 106.4 214.3 124.5 118.3 242.8 
Funded status$(107.4)$(106.4)$(213.8)$(124.0)$(118.3)$(242.3)
Amounts reported within:
Non-current assets$0.2 $— $0.2 $0.2 $— $0.2 
Accrued liabilities(5.5)(8.6)(14.1)(5.8)(9.2)(15.0)
Non-current liabilities(102.1)(97.8)(199.9)(118.4)(109.1)(227.5)
Amount Recognized in Accumulated Other Comprehensive Income Loss The following table provides a summary of amounts recorded within accumulated other comprehensive loss at December 31, 2021 and 2020.
 20212020
PensionOther
Benefits		TotalPensionOther
Benefits		Total
Net actuarial loss$30.0 $28.4 $58.4 $40.9 $39.2 $80.1 
Prior service cost (benefit)0.3 (22.0)(21.7)0.4 (27.1)(26.7)
Total$30.3 $6.4 $36.7 $41.3 $12.1 $53.4 
Changes in Projected Benefit Obligations of Pension and Other Employee-Related Defined Benefit Plans
The following tables provide a rollforward of the benefit obligation, plan assets and funded status for our U.S. and international pension plans and our other employee-related defined benefit plans for the years ended December 31, 2021 and 2020.
 20212020
U.S. PensionInt’l PensionOther BenefitsTotalU.S. PensionInt’l PensionOther BenefitsTotal
Change in benefit obligation
Benefit obligation – January 1$15.5 $109.0 $118.3 $242.8 $310.4 $98.4 $116.6 $525.4 
Service cost— 1.4 0.7 2.1 — 1.5 0.8 2.3 
Interest cost0.3 0.7 1.8 2.8 6.9 1.0 2.8 10.7 
Actuarial (gain) loss(a)
(0.1)(6.3)(8.2)(14.6)45.0 3.3 4.0 52.3 
Benefits paid(0.9)(3.2)(6.2)(10.3)(18.9)(3.6)(5.9)(28.4)
Settlement— (0.2)— (0.2)(327.9)(0.6)— (328.5)
Foreign currency translation— (8.3)— (8.3)— 9.0 — 9.0 
Benefit obligation – December 31$14.8 $93.1 $106.4 $214.3 $15.5 $109.0 $118.3 $242.8 
(a)In 2021, the actuarial gain is primarily due to an increase in discount rates. In 2020, the actuarial loss is primarily due to a decrease in discount rates in addition to the annuity premium in connection with the U.S. qualified pension plan termination.
Changes in Fair Value of Plan Assets of Pension Plans
 20212020
U.S. PensionInt’l PensionOther BenefitsTotalU.S. PensionInt’l PensionOther BenefitsTotal
Change in plan assets
Plan assets – January 1$— $0.5 $— $0.5 $319.9 $0.6 $1.3 $321.8 
Actual return on plan assets— — — — 20.0 — — 20.0 
Employer contributions0.9 3.4 6.2 10.5 9.3 4.1 4.6 18.0 
Benefits and expenses paid(0.9)(3.2)(6.2)(10.3)(21.3)(3.6)(5.9)(30.8)
Settlement— (0.2)— (0.2)(327.9)(0.6)— (328.5)
Plan assets – December 31$— $0.5 $— $0.5 $— $0.5 $— $0.5 
Funded status at end of year$(14.8)$(92.6)$(106.4)$(213.8)$(15.5)$(108.5)$(118.3)$(242.3)
Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets Information for pension plans with an accumulated benefit obligation in excess of plan assets is included in the following table.
20212020
Projected benefit obligation$107.6 $124.2 
Accumulated benefit obligation105.3 121.3 
Fair value of plan assets— — 
Other Changes in Plan Assets and Net Periodic Postretirement Cost Recognized in Other Comprehensive Income (Loss)
The following table provides the components of net periodic postretirement cost and other amounts recognized in other comprehensive loss for each of the years ended December 31, 2021, 2020 and 2019 as they pertain to our defined benefit pension plans.
 202120202019
U.S. PensionInt’l PensionTotalU.S. PensionInt’l PensionTotalU.S. PensionInt’l PensionTotal
Net periodic postretirement cost - pension
Service cost$— $1.4 $1.4 $— $1.5 $1.5 $0.2 $1.2 $1.4 
Interest cost0.3 0.7 1.0 6.9 1.0 7.9 11.1 1.5 12.6 
Expected return on plan assets— — — (7.2)— (7.2)(14.8)— (14.8)
Amortization of net actuarial loss0.2 1.6 1.8 4.8 1.5 6.3 4.3 0.8 5.1 
Amortization of prior service cost— — — — — — 0.7 — 0.7 
Net periodic postretirement cost0.5 3.7 4.2 4.5 4.0 8.5 1.5 3.5 5.0 
Settlement charge and other(a)
(3.4)— (3.4)136.9 0.1 137.0 — — — 
Total net periodic postretirement cost(2.9)3.7 0.8 141.4 4.1 145.5 1.5 3.5 5.0 
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Net actuarial (gain) loss(0.1)(6.3)(6.4)34.7 3.2 37.9 (10.2)10.3 0.1 
Amortization of net actuarial loss(0.2)(1.6)(1.8)(141.7)(1.6)(143.3)(4.3)(0.8)(5.1)
Amortization of prior service cost— — — — — — (0.7)— (0.7)
Foreign currency translation— (2.7)(2.7)— 2.9 2.9 — (0.3)(0.3)
Total change recognized in other comprehensive income(0.3)(10.6)(10.9)(107.0)4.5 (102.5)(15.2)9.2 (6.0)
Total impact from net periodic postretirement cost and changes in other comprehensive income$(3.2)$(6.9)$(10.1)$34.4 $8.6 $43.0 $(13.7)$12.7 $(1.0)
(a)2021 includes income of $3.4 from a pricing adjustment associated with the termination and sale of the U.S. qualified pension plan. In 2020, the Company recorded a settlement charge of $136.9 related to the termination and sale of the U.S. qualified pension plan.
Weighted Average Assumptions used to Determine Benefit Obligations
The following table provides the weighted-average assumptions used to determine projected benefit obligations and net periodic postretirement cost, as they pertain to our U.S. and non-U.S. defined benefit pension plans and other employee-related defined benefit plans.
 20212020
U.S. PensionInt’l PensionOther BenefitsU.S. PensionInt’l PensionOther Benefits
Obligation Assumptions:
Discount rate2.7 %1.1 %2.7 %2.4 %0.7 %2.4 %
Rate of future compensation increaseN/A3.3 %N/AN/A2.9 %N/A
Cost Assumptions:
Discount rate2.4 %0.7 %2.4 %3.2 %1.0 %3.2 %
Expected return on plan assetsN/A1.0 %N/A4.0 %1.0 %6.0 %
Estimated Future Benefit Payments
The following table provides the projected timing of payments for benefits earned to date and the expectation that certain future service will be earned by current active employees for our pension and other employee-related benefit plans.
U.S.
Pension		Int’l
Pension		Other
Benefits
2022$0.9 $4.7 $8.5 
20230.9 3.7 8.1 
20240.9 3.9 7.8 
20250.9 3.5 7.5 
20260.9 3.7 7.0 
2027 - 20314.4 18.7 31.1 
Other Postretirement Benefit Plan, Defined Benefit [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Other Changes in Plan Assets and Net Periodic Postretirement Cost Recognized in Other Comprehensive Income (Loss)
The following table provides the components of net periodic postretirement cost and other amounts recognized in other comprehensive loss for each of the years ended December 31, 2021, 2020 and 2019 as they pertain to other employee-related defined benefit plans.
202120202019
Net periodic postretirement cost - other postretirement
Service cost$0.7 $0.8 $0.7 
Interest cost1.8 2.8 4.0 
Expected return on plan assets— — (0.2)
Amortization of net actuarial loss2.6 2.6 2.3 
Amortization of prior service credit(5.1)(5.1)(5.1)
Total net periodic postretirement cost— 1.1 1.7 
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Net actuarial (gain) loss(8.2)3.9 3.4 
Prior service cost— — 1.7 
Amortization of net actuarial loss(2.6)(2.6)(2.3)
Amortization of prior service credit5.1 5.1 5.1 
Total changes recognized in other comprehensive income(5.7)6.4 7.9 
Total impact from net periodic postretirement cost and changes in other comprehensive income$(5.7)$7.5 $9.6