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Defined Benefit Plans
 9 Months Ended
Oct. 02, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Defined Benefit Plans
DEFINED BENEFIT PLANS
In connection with the Pall Acquisition, the Company acquired assets and liabilities associated with Pall's existing U.S. and non-U.S. retirement plans. The following sets forth the funded position of the acquired plans as of August 31, 2015 ($ in millions):
 
Pension Plans
 
Other Post-Retirement Plans
Pall Pension and Other Post-Retirement Plans
U.S.
 
Non-U.S.
 
Estimated benefit obligation
$
(300.1
)
 
$
(434.0
)
 
$
(5.0
)
Fair value of plan assets
152.6

 
356.7

 
—

Funded status
$
(147.5
)
 
$
(77.3
)
 
$
(5.0
)

The following sets forth the components of the Company’s continuing operations net periodic benefit cost of the noncontributory defined benefit pension plans ($ in millions):
 
Three Months Ended
 
Nine Months Ended
U.S. Pension Benefits
October 2, 2015
 
September 26, 2014
 
October 2, 2015
 
September 26, 2014
Service cost
$
2.4

 
$
1.5

 
$
5.4

 
$
4.5

Interest cost
25.3

 
26.4

 
73.9

 
79.4

Expected return on plan assets
(34.0
)
 
(32.1
)
 
(100.2
)
 
(96.7
)
Amortization of actuarial loss
7.9

 
4.6

 
20.9

 
13.8

Net periodic pension cost
$
1.6


$
0.4


$
—


$
1.0

 
 
 
 
 
 
 
 
Non-U.S. Pension Benefits
 
 
 
 
 
 
 
Service cost
$
11.6

 
$
7.6

 
$
34.3

 
$
23.4

Interest cost
9.7

 
11.5

 
27.0

 
34.9

Expected return on plan assets
(10.9
)
 
(10.5
)
 
(29.9
)
 
(31.6
)
Amortization of actuarial loss
4.3

 
1.7

 
12.8

 
5.2

Amortization of prior service credit
—

 
—

 
(0.1
)
 
—

Settlement loss recognized
1.9

 
—

 
1.4

 
—

Net periodic pension cost
$
16.6

 
$
10.3

 
$
45.5

 
$
31.9

The following sets forth the components of the Company’s continuing operations net periodic benefit cost of the other post-retirement employee benefit plans ($ in millions): 
 
Three Months Ended
 
Nine Months Ended
 
October 2, 2015
 
September 26, 2014
 
October 2, 2015
 
September 26, 2014
Service cost
$
0.3

 
$
0.2

 
$
0.9

 
$
0.8

Interest cost
1.8

 
2.6

 
5.8

 
6.8

Amortization of actuarial (gain) loss
(0.2
)
 
(1.0
)
 
1.2

 
(3.0
)
Amortization of prior service credit
(0.8
)
 
0.7

 
(2.4
)
 
0.7

Net periodic benefit cost
$
1.1

 
$
2.5

 
$
5.5

 
$
5.3


Net periodic pension and benefit costs are included in cost of sales and selling, general and administrative expenses in the accompanying Consolidated Condensed Statements of Earnings.
Employer Contributions
During 2015, the Company’s cash contribution requirements for its U.S. and non-U.S. defined benefit pension plans are expected to be approximately $45 million and $55 million, respectively. The ultimate amounts to be contributed depend upon, among other things, legal requirements, underlying asset returns, the plan’s funded status, the anticipated tax deductibility of the contribution, local practices, market conditions, interest rates and other factors.