XML 25 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Pension and Other Postretirement Benefit Plans
6 Months Ended
Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Postretirement Benefit Plans
Pension Benefits

The components of net periodic cost (benefit) are as follows:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
(in millions)
2017
 
2016
 
2017
 
2016
Service cost
$
1.2

 
$
1.2

 
$
2.4

 
$
2.3

Interest cost
7.2

 
8.2

 
14.4

 
16.4

Expected return on plan assets
(13.9
)
 
(14.5
)
 
(27.8
)
 
(28.9
)
Amortization of prior service cost
(0.1
)
 
(0.2
)
 
(0.2
)
 
(0.4
)
Amortization of net loss
3.5

 
2.9

 
7.0

 
5.8

Net periodic benefit
$
(2.1
)
 
$
(2.4
)
 
$
(4.2
)
 
$
(4.8
)

The Company expects, based on current actuarial calculations, to contribute approximately $12.0 million to its defined benefit plans, of which $3.5 million has been contributed during the first six months of 2017. The Company contributed $8.3 million to its defined benefit plans in 2016. Cash contributions for subsequent years will depend on a number of factors, including the impact of the Pension Protection Act signed into law in 2006, changes in minimum funding requirements, long-term interest rates, the investment performance of plan assets and changes in employee census data affecting the Company’s projected benefit obligations.