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Pension Benefit Plans (Tables) - Pension Benefit Plans
 12 Months Ended
Dec. 31, 2017
Defined Benefit Plans and Other Post-Retirement Benefit Plans [Line Items]  
Funded Status Of Pension Plans
The following sets forth the funded status of the U.S. and non-U.S. plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):
 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
 
2017
 
2016
 
2017
 
2016
Change in pension benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
2,558.1

 
$
2,603.9

 
$
1,493.0

 
$
1,449.3

Service cost
7.3

 
9.0

 
32.7

 
36.4

Interest cost
82.3

 
89.7

 
25.5

 
32.8

Employee contributions
—

 
—

 
8.2

 
8.6

Benefits and other expenses paid
(181.8
)
 
(204.8
)
 
(58.3
)
 
(48.4
)
Acquisitions and other
—

 
(7.4
)
 
—

 
—

Actuarial loss (gain)
139.9

 
67.7

 
(51.4
)
 
174.1

Amendments, settlements and curtailments
7.1

 
—

 
(10.5
)
 
(25.9
)
Foreign exchange rate impact
—

 
—

 
132.6

 
(133.9
)
Benefit obligation at end of year
2,612.9

 
2,558.1

 
1,571.8

 
1,493.0

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
1,868.2

 
1,892.6

 
1,042.9

 
1,025.9

Actual return on plan assets
265.3

 
122.7

 
74.6

 
134.3

Employer contributions
53.2

 
57.7

 
44.7

 
43.5

Employee contributions
—

 
—

 
8.2

 
8.6

Amendments and settlements
—

 
—

 
(3.7
)
 
(7.3
)
Benefits and other expenses paid
(181.8
)
 
(204.8
)
 
(58.3
)
 
(48.4
)
Foreign exchange rate impact
—

 
—

 
90.9

 
(113.7
)
Fair value of plan assets at end of year
2,004.9

 
1,868.2

 
1,199.3

 
1,042.9

Funded status
$
(608.0
)
 
$
(689.9
)
 
$
(372.5
)
 
$
(450.1
)
Weighted Average Assumptions Used To Determine Benefit Obligations And Cost
Weighted average assumptions used to determine benefit obligations at date of measurement:
 
U.S. Plans
 
Non-U.S. Plans
 
2017
 
2016
 
2017
 
2016
Discount rate
3.6
%
 
4.1
%
 
1.8
%
 
1.8
%
Rate of compensation increase
4.0
%
 
4.0
%
 
2.2
%
 
2.9
%
Weighted average assumptions used to determine net periodic pension cost (benefit) at date of measurement:
 
U.S. Plans
 
Non-U.S. Plans
 
2017
 
2016
 
2017
 
2016
Discount rate
4.1
%
 
4.4
%
 
1.8
%
 
2.6
%
Expected long-term return on plan assets
7.0
%
 
7.0
%
 
3.9
%
 
4.1
%
Rate of compensation increase
4.0
%
 
4.0
%
 
2.9
%
 
2.9
%
Components of Net Periodic Pension Cost
Components of net periodic pension cost (benefit):
 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
($ in millions)
2017
 
2016
 
2017
 
2016
Service cost
$
7.3

 
$
9.0

 
$
32.7

 
$
36.4

Interest cost
82.3

 
89.7

 
25.5

 
32.8

Expected return on plan assets
(130.5
)
 
(132.6
)
 
(42.4
)
 
(40.2
)
Amortization of prior service credit
—

 
—

 
(0.3
)
 
(0.3
)
Amortization of net loss
24.9

 
24.6

 
7.8

 
7.8

Curtailment and settlement gains recognized
—

 
(0.7
)
 
(0.5
)
 
(0.3
)
Net periodic pension (benefit) cost
$
(16.0
)
 
$
(10.0
)
 
$
22.8

 
$
36.2
Fair Values Of Pension Plan Assets
The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2017, by asset category were as follows ($ in millions):
 
Quoted Prices in Active Market (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
Total
Cash and equivalents
$
36.0

 
$
—

 
$
—

 
$
36.0

Equity securities:
 
 
 
 
 
 
 
Common stock
515.8

 
—

 
—

 
515.8

Preferred stock
6.7

 
—

 
—

 
6.7

Fixed income securities:
 
 
 
 
 
 
 
Corporate bonds
—

 
138.4

 
—

 
138.4

Government issued
—

 
37.5

 
—

 
37.5

Mutual funds
341.5

 
147.0

 
—

 
488.5

Insurance contracts
—

 
299.4

 
—

 
299.4

Total
$
900.0

 
$
622.3

 
$
—

 
1,522.3

Investments measured at NAV (a):
 
 
 
 
 
 
 
Mutual funds
 
 
 
 
 
 
239.6

Insurance contracts
 
 
 
 
 
 
72.1

Common collective trusts
 
 
 
 
 
 
774.0

Venture capital, partnerships and other private investments
 
 
 
 
 
 
596.2

Total assets at fair value
 
 
 
 
 
 
$
3,204.2

(a) 
The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.
The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2016, by asset category were as follows ($ in millions):
 
Quoted Prices in Active Market (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
Total
Cash and equivalents
$
23.7

 
$
—

 
$
—

 
$
23.7

Equity securities:
 
 
 
 
 
 
 
Common stock
347.5

 
23.4

 
—

 
370.9

Preferred stock
4.3

 
—

 
—

 
4.3

Fixed income securities:
 
 
 
 
 
 
 
Corporate bonds
—

 
62.9

 
—

 
62.9

Government issued
—

 
82.9

 
—

 
82.9

Mutual funds
315.1

 
162.6

 
—

 
477.7

Insurance contracts
—

 
260.3

 
—

 
260.3

Total
$
690.6

 
$
592.1

 
$
—

 
1,282.7

Investments measured at NAV (a):
 
 
 
 
 
 
 
Mutual funds
 
 
 
 
 
 
289.1

Insurance contracts
 
 
 
 
 
 
70.2

Common collective trusts
 
 
 
 
 
 
697.8

Venture capital, partnerships and other private investments
 
 
 
 
 
 
571.3

Total assets at fair value
 
 
 
 
 
 
$
2,911.1


(a) 
The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.
Benefit Payments That Reflect Expected Future Service
The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plans in the periods indicated ($ in millions):
 
U.S. Pension Plans
 
Non-U.S. Pension Plans
 
All Pension Plans
2018
$
178.4

 
$
51.9

 
$
230.3

2019
176.9

 
55.8

 
232.7

2020
179.5

 
52.9

 
232.4

2021
179.3

 
55.5

 
234.8

2022
178.2

 
55.2

 
233.4

2023 – 2027
841.4

 
311.5

 
1,152.9