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PENSION AND POST-RETIREMENT PLANS
9 Months Ended
Sep. 30, 2015
PENSION AND POST-RETIREMENT PLANS  
PENSION AND POST-RETIREMENT PLANS

 

5.PENSION AND POST-RETIREMENT PLANS

 

The Company sponsors qualified defined-benefit pension and post-retirement plans (collectively, the “Plans”).  The following table provides the components of net periodic benefit cost (benefit) for the Plans for the nine months ended September 30, 2015 and 2014 (in millions):

 

 

 

Pension Benefits

 

Post-retirement Benefits

 

 

 

September 30

 

September 30

 

 

 

2015

 

2014

 

2015

 

2014

 

Service cost

 

$

2.6

 

$

2.5

 

$

1.2

 

$

0.8

 

Interest cost

 

7.1

 

7.1

 

1.9

 

1.9

 

Expected return on plan assets

 

(10.4

)

(10.5

)

 

 

Amortization of net gain

 

4.8

 

2.3

 

1.8

 

0.4

 

Amortization of prior service cost

 

(1.7

)

(1.7

)

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic cost (benefit)

 

$

2.4

 

$

(0.3

)

$

4.9

 

$

3.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

During the nine months ended September 30, 2015, the Company contributed $4.7 million to its defined benefit pension plans, out of total expected contributions of $6.2 million for 2015.