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Pension and Other Benefits
9 Months Ended
Sep. 30, 2012
Pension And Other Postretirement Benefit Disclosure [Abstract]  
Pension And Other Postretirement Benefits Disclosure [Text Block]

Note 9 Pension and Other Benefits

 

The following table sets forth the components of net pension and other benefit costs for the three and nine months ended September 30, 2012 and 2011 (in millions):

 

  Pension Benefits Other Benefits
  2012 2011 2012 2011
             
Three Months Ended September 30           
Service cost$ 4.1 $ 3.5 $ - $ -
Interest cost  9.3   9.5   0.4   0.4
Expected return on plan assets (10.1)  (10.4)   -   -
Amortization of prior service cost  -   0.1   -   -
Amortization of actuarial losses/(gains)  4.8   2.1   (0.3)   (0.2)
Net periodic benefit cost$ 8.1 $ 4.8 $ 0.1 $ 0.2
            
Nine Months Ended September 30           
Service cost$ 12.2 $ 10.5 $ - $ -
Interest cost  27.4   28.6   1.1   1.2
Expected return on plan assets  (30.0)   (31.4)   -   -
Amortization of prior service cost  0.1   0.3   -   -
Amortization of actuarial losses/(gains)  13.1   6.2   (0.8)   (0.6)
Net periodic benefit cost$ 22.8 $ 14.2 $ 0.3 $ 0.6

Employer Contributions

 

The Company anticipates making required contributions of approximately $2.6 million to its foreign pension plans during 2012, of which $2.0 million has been contributed through September 30, 2012. In addition, the Company may make a voluntary contribution to its foreign pension plans in the fourth quarter of 2012. Although not required under the Pension Protection Act of 2006, the Company has made $20.0 million of voluntary contributions to its qualified domestic benefit pension plans during the nine months ended September 30, 2012 and does not anticipate making an additional contribution during the remainder of the year.