Employee Benefit Plans

6 Months Ended

Jun. 30, 2017

Defined Benefit Pension and Other Postretirement Benefit (OPEB) Plans

We sponsor several defined benefit pension and OPEB plans for our employees, including non-qualified pension plans. The U.S. qualified and non-qualified defined benefit pension plans comprise the majority of our total benefit obligation and benefit cost. We maintain a separate defined benefit plan for eligible employees in our U.K. operation. The U.S. defined benefit pension plans were closed to new entrants on December 31, 2013, the OPEB plan was closed to new entrants on December 31, 2012, and the U.K. plan was closed to new entrants on December 31, 2002.

Effective August 1, 2016, we amended the retiree medical benefits portion of our OPEB plan to transition a majority of participants to a private exchange for their health insurance coverage. Prior to the plan amendment, participants paid a subsidized premium for their health insurance coverage, but if they elect to continue participation in the plan they will now purchase coverage on a private exchange and will subsequently be reimbursed through a Health Reimbursement Account (HRA) for an amount equivalent to the subsidy that was previously provided. Participants who continued in the plan received a one-time subsidy to minimize the initial out-of-pocket cost of purchasing health insurance. The amendment did not materially change the benefit obligation of the plan.

The following table provides the components of the net periodic benefit cost (credit) for the defined benefit pension and OPEB plans.



	Three Months Ended June 30
	Pension Benefits
	U.S. Plans						U.K. Plan						OPEB
	2017			2016			2017			2016			2017			2016
	(in millions of dollars)
Service Cost	$	1.9		$	1.8		$	—		$	—		$	—		$	—
Interest Cost	21.1			21.3			1.5			1.8			1.5			1.8
Expected Return on Plan Assets	(25.7		)	(25.7		)	(1.8		)	(2.7		)	(0.1		)	(0.1		)
Amortization of:
Net Actuarial Loss	4.9			4.0			0.1			—			—			—
Prior Service Credit	—			—			—			—			(0.1		)	(0.1		)
Plan Amendment	—			—			—			—			—			0.9
Total	$	2.2		$	1.4		$	(0.2	)	$	(0.9	)	$	1.3		$	2.5



	Six Months Ended June 30
	Pension Benefits
	U.S. Plans						U.K. Plan						OPEB
	2017			2016			2017			2016			2017			2016
	(in millions of dollars)
Service Cost	$	3.9		$	3.5		$	—		$	—		$	—		$	—
Interest Cost	42.2			42.6			3.0			3.7			3.0			3.6
Expected Return on Plan Assets	(51.5		)	(51.4		)	(3.8		)	(5.4		)	(0.3		)	(0.3		)
Amortization of:
Net Actuarial Loss	9.8			8.1			0.3			—			—			—
Prior Service Credit	(0.1		)	(0.1		)	—			—			(0.2		)	(0.1		)
Plan Amendment	—			—			—			—			—			0.9
Total	$	4.3		$	2.7		$	(0.5	)	$	(1.7	)	$	2.5		$	4.1