XML 33 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
Pension and Other Postretirement Benefits
 9 Months Ended
Sep. 30, 2018
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits
 
Three Months Ended
 
September 30, 2018
 
September 30, 2017
 
Pension
 
OPEB
 
Consolidated
 
Pension
 
OPEB
 
Consolidated
 
(In millions)
Service cost:
 
 
 
 
 
 
 
 
 
 
Service cost
$
1.3

 
$
2.3

 
$
3.6

 
$
1.9

 
$
2.6

 
$
4.5

Other pension and postretirement costs (benefits), net:
 
 
 
 
 
 
 
 
 
 
Interest cost
$
40.2

 
$
6.5

 
$
46.7

 
$
51.8

 
$
7.7

 
$
59.5

Expected return on plan assets
(57.7
)
 
—

 
(57.7
)
 
(73.1
)
 
0.1

 
(73.0
)
Amortization of prior service cost (benefit)
0.1

 
(0.1
)
 
—

 
0.2

 
—

 
0.2

Amortization of net actuarial loss (gain)
1.8

 
(0.4
)
 
1.4

 
3.9

 
—

 
3.9

Curtailment, settlement or special termination benefit loss (gain)
0.9

 
1.1

 
2.0

 
—

 
—

 
—

Less: expected participant contributions
—

 
—

 
—

 
(0.2
)
 
—

 
(0.2
)
Total other pension and postretirement cost (benefits), net
$
(14.7
)
 
$
7.1

 
$
(7.6
)
 
$
(17.4
)
 
$
7.8

 
$
(9.6
)
 
 
 
 
 
 
 
 
 
 
 
 
Net periodic pension and OPEB cost (benefit)
$
(13.4
)
 
$
9.4

 
$
(4.0
)
 
$
(15.5
)
 
$
10.4

 
$
(5.1
)


 
Nine Months Ended
 
September 30, 2018
 
September 30, 2017
 
Pension
 
OPEB
 
Consolidated
 
Pension
 
OPEB
 
Consolidated
 
(In millions)
Service cost:
 

 
 

 
 
 
 
 
 
 
 
Service cost
$
4.1

 
$
6.9

 
$
11.0

 
$
5.6

 
$
8.0

 
$
13.6

Other pension and postretirement costs (benefits), net:
 
 
 
 
 
 
 
 
 
 
Interest cost
$
122.1

 
$
19.7

 
$
141.8

 
$
154.1

 
$
22.9

 
$
177.0

Expected return on plan assets
(176.3
)
 
—

 
(176.3
)
 
(215.2
)
 
0.2

 
(215.0
)
Amortization of prior service cost (benefit)
0.5

 
(0.2
)
 
0.3

 
0.5

 
—

 
0.5

Amortization of net actuarial loss (gain)
5.7

 
(1.1
)
 
4.6

 
8.6

 
—

 
8.6

Curtailment, settlement or special termination benefit loss (gain)
1.0

 
1.1

 
2.1

 
—

 
(2.9
)
 
(2.9
)
Less: expected participant contributions
—

 
—

 
—

 
(0.5
)
 
—

 
(0.5
)
Total other pension and postretirement cost (benefits), net
$
(47.0
)
 
$
19.5

 
$
(27.5
)
 
$
(52.5
)
 
$
20.2

 
$
(32.3
)
 
 
 
 
 
 
 
 
 
 
 
 
Net periodic pension and OPEB cost (benefit)
$
(42.9
)
 
$
26.4

 
$
(16.5
)
 
$
(46.9
)
 
$
28.2

 
$
(18.7
)

During the nine months ended September 30, 2018, employer contributions to the defined benefit pension plans were approximately $7 million. Also, during the three and nine months ended September 30, 2018, we recognized special termination benefit charges related to the restructuring program in the U.S. segment as discussed in Note 6, "Special Items". Total 2018 employer contributions to the defined benefit plans are expected to be approximately $10 million, based on foreign exchange rates as of September 30, 2018. BRI and BDL contributions to their defined benefit pension plans are not included above, as they are not consolidated in our financial statements.
Additionally, we have adopted the FASB's new guidance related to defined benefit pension and other postretirement plans. Specifically, the new guidance requires us to report only the service cost component in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period; while the other components of net benefit cost are now presented in the unaudited condensed consolidated statements of operations separately from the service cost component and outside of operating income. We have also determined that only service cost will be reported within each operating segment and all other components will be reported within the Corporate segment. See further discussion in Note 2, "New Accounting Pronouncements".