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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans  
Schedule of Changes in Projected Benefit Obligations and Fair Value of Plan Assets
The following table provides the changes in the benefit obligation and fair value of plan assets and the funded status of the plans.
 Pension Benefits  
 U.S. PlansU.K. PlanOPEB
 202320222023202220232022
(in millions of dollars)
Change in Benefit Obligation
Benefit Obligation at Beginning of Year$1,585.5 $2,207.5 $157.9 $278.3 $83.9 $110.3 
Service Cost9.2 7.7 — — — — 
Interest Cost87.9 67.2 7.7 5.0 4.5 3.0 
Plan Participant Contributions— — — — 0.1 0.1 
Actuarial Loss (Gain) (1)
61.0 (604.1)3.8 (92.4)(0.5)(19.4)
Benefits and Expenses Paid(168.3)(92.8)(5.7)(5.4)(9.0)(10.1)
Change in Foreign Exchange Rates— — 8.6 (27.6)— — 
Benefit Obligation at End of Year $1,575.3 $1,585.5 $172.3 $157.9 $79.0 $83.9 
Accumulated Benefit Obligation at December 31$1,575.3 $1,585.5 $172.3 $158.0 N/AN/A
Change in Fair Value of Plan Assets
Fair Value of Plan Assets at Beginning of Year$1,308.3 $1,801.7 $140.5 $303.7 $8.5 $9.0 
Actual Return on Plan Assets145.6 (410.6)3.1 (128.4)— 0.1 
Employer Contributions10.3 10.0 — — 8.6 9.4 
Plan Participant Contributions— — — — 0.1 0.1 
Benefits and Expenses Paid(168.3)(92.8)(5.7)(5.4)(9.0)(10.1)
Change in Foreign Exchange Rates— — 7.5 (29.4)— — 
Fair Value of Plan Assets at End of Year$1,295.9 $1,308.3 $145.4 $140.5 $8.2 $8.5 
Underfunded Status
$279.4 $277.2 $26.9 $17.4 $70.8 $75.4 

(1) The actuarial losses recognized in 2023 for the U.S. and U.K. plans were driven by decreases in the discount rate assumption. Also contributing to the actuarial loss for the U.K. plan in 2023 was unfavorable plan experience resulting from a higher than expected rate of inflation. The actuarial gain recognized in 2023 for the OPEB plan was driven by favorable plan experience mostly offset by a decrease in the assumed discount rate. The actuarial gains recognized in 2022 for the U.S., OPEB, and U.K. plans were primarily driven by increases in the discount rate assumption.
Schedule of Amounts Recognized in Balance Sheet
The amounts recognized in our consolidated balance sheets for our pension and OPEB plans at December 31, 2023 and 2022 are as follows.
 Pension Benefits  
 U.S. PlansU.K. PlanOPEB
 202320222023202220232022
(in millions of dollars)
Current Liability$9.1 $8.8 $— $— $0.7 $1.1 
Noncurrent Liability270.3 268.4 26.9 17.4 70.1 74.3 
Underfunded Status
$279.4 $277.2 $26.9 $17.4 $70.8 $75.4 
Unrecognized Pension and Postretirement Benefit Costs
   Net Actuarial Gain (Loss)$(510.2)$(517.8)$(95.0)$(83.7)$21.2 $31.6 
   Prior Service Credit (Cost)(0.6)(0.6)(0.2)(0.2)2.3 2.5 
(510.8)(518.4)(95.2)(83.9)23.5 34.1 
   Income Tax211.2 213.5 22.2 19.5 3.4 1.1 
Total Included in Accumulated Other Comprehensive Income (Loss)$(299.6)$(304.9)$(73.0)$(64.4)$26.9 $35.2 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table provides the changes recognized in other comprehensive income for the years ended December 31, 2023 and 2022.
 Pension Benefits  
 U.S. PlansU.K. PlanOPEB
 202320222023202220232022
(in millions of dollars)
Accumulated Other Comprehensive Income (Loss) at Beginning of Year$(304.9)$(383.2)$(64.4)$(34.0)$35.2 $21.2 
Net Actuarial Gain (Loss)
Amortization15.2 16.3 2.5 0.4 (10.5)(1.0)
All Other Changes(7.6)87.7 (13.8)(41.2)0.1 19.0 
Prior Service Credit (Cost)
Amortization— — — — (0.2)(0.2)
Change in Income Tax(2.3)(25.7)2.7 10.4 2.3 (3.8)
Accumulated Other Comprehensive Income (Loss) at End of Year$(299.6)$(304.9)$(73.0)$(64.4)$26.9 $35.2 
Schedule of Assumptions Used
We use a December 31 measurement date for each of our plans. The weighted average assumptions used in the measurement of our benefit obligations as of December 31 and our net periodic benefit costs for the years ended December 31 are as follows:

 Pension Benefits  
 U.S. PlansU.K. PlanOPEB
 202320222023202220232022
Benefit Obligations
   Discount Rate5.40 %5.70 %4.50 %4.80 %5.40 %5.70 %
   Rate of Compensation IncreaseN/AN/A2.40 %2.50 %N/AN/A
Net Periodic Benefit Cost
   Discount Rate5.70 %3.10 %4.80 %2.00 %5.70 %2.90 %
   Expected Return on Plan Assets7.25 %6.00 %6.70 %4.20 %5.75 %5.75 %
   Rate of Compensation IncreaseN/AN/A2.50 %2.90 %N/AN/A
Schedule of Net Benefit Costs
The following table provides the components of the net periodic benefit cost (credit) for the years ended December 31.
 Pension Benefits  
 U.S. PlansU.K. PlanOPEB
 202320222021202320222021202320222021
(in millions of dollars)
Service Cost$9.2 $7.7 $9.6 $— $— $— $— $— $— 
Interest Cost87.9 67.2 65.0 7.7 5.0 4.2 4.5 3.0 3.0 
Expected Return on Plan Assets(92.0)(105.9)(100.6)(8.5)(10.9)(9.8)(0.5)(0.5)(0.5)
Amortization of:
   Net Actuarial Loss (Gain)15.2 16.3 21.3 2.5 0.4 1.3 (10.5)(1.0)— 
   Prior Service Credit
— — — — — — (0.2)(0.2)(0.2)
Total Net Periodic Benefit Cost (Credit)$20.3 $(14.7)$(4.7)$1.7 $(5.5)$(4.3)$(6.7)$1.3 $2.3 
Schedule of Expected Benefit Payments
The following table provides expected benefit payments, which reflect expected future service, as appropriate.
 Pension Benefits  
 U.S. PlansU.K. PlanOPEB
 (in millions of dollars)
YearGrossSubsidy PaymentsNet
2024$83.5 $6.7 $9.1 $— $9.1 
202587.0 7.1 8.7 — 8.7 
202691.2 7.7 8.3 — 8.3 
202795.1 8.2 8.0 — 8.0 
202898.8 8.5 7.6 — 7.6 
2029-2033533.2 47.0 31.9 0.1 31.8 
Pension Plan | UNITED STATES  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Defined Benefit Plan, Plan Assets, Category
The categorization of fair value measurements by input level for the invested assets in our U.S. plans is shown below. The carrying values of investment-related receivables and payables approximate fair value due to the short-term nature of the securities and are not included in the following chart. Investments valued using net asset value as a practical expedient are not required to be categorized by input level, but these investments are included as follows to reconcile to total invested assets.

 December 31, 2023
 Quoted Prices
in Active Markets
for Identical Assets (Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		NAV as a Practical
Expedient		Total
(in millions of dollars)
Invested Assets
Equity Securities:
Global$55.0 $— $— $390.8 $445.8 
Fixed Income Securities:
U.S. Government and Agencies1
215.9 40.8 — — 256.7 
Corporate— — — 130.0 130.0 
Non-U.S. Emerging Markets— — — 27.9 27.9 
Opportunistic Credits— — — 150.6 150.6 
Real Estate— — — 162.8 162.8 
Alternative Investments:
Private Equity Direct Investments— — — 68.5 68.5 
Private Equity Funds of Funds— — — 40.7 40.7 
Cash Equivalents16.0 — — — 16.0 
Total Invested Assets$286.9 $40.8 $— $971.3 $1,299.0 
1 U.S. Government and Agencies Fixed Income Securities includes derivative assets.
 December 31, 2022
 Quoted Prices
in Active 
Markets for 
Identical Assets
(Level 1)		Significant 
Other
Observable
Inputs
(Level 2) 		Significant
Unobservable
Inputs
(Level 3)		NAV as a Practical
Expedient		Total
(in millions of dollars)
Invested Assets
Equity Securities:
Global$57.4 $— $— $405.7 $463.1 
Fixed Income Securities:
U.S. Government and Agencies1
194.0 21.7 — — 215.7 
Corporate— — — 129.6 129.6 
Non-U.S. Emerging Markets— — — 54.0 54.0 
Opportunistic Credits— — — 132.3 132.3 
Real Estate— — — 164.2 164.2 
Alternative Investments:
Private Equity Direct Investments— — — 74.5 74.5 
Private Equity Funds of Funds— — — 47.6 47.6 
Cash Equivalents20.5 — — — 20.5 
Total Invested Assets$271.9 $21.7 $— $1,007.9 $1,301.5 
1 U.S. Government and Agencies Fixed Income Securities includes derivative assets.
Pension Plan | Foreign Plan  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Defined Benefit Plan, Plan Assets, Category
The categorization of fair value measurements by input level for the invested assets in our U.K. plan is shown below. Investments valued using NAV as a practical expedient are not required to be categorized by input level, but these investments are included as follows to reconcile to total invested assets.
 December 31, 2023
 Quoted Prices
in Active
Markets for Identical Assets (Level 1)		Significant 
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		NAV as a Practical
Expedient		Total
(in millions of dollars)
Invested Assets
Diversified Growth Assets$28.1 $— $— $5.9 $34.0 
Fixed Income and Index-linked Securities75.3 — — — 75.3 
Alternative Investments— — — 34.8 34.8 
Cash Equivalents1.3 — — — 1.3 
Total Invested Assets$104.7 $— $— $40.7 $145.4 

 December 31, 2022
 Quoted Prices
in Active 
Markets for 
Identical Assets
(Level 1)		Significant 
Other
Observable
Inputs
(Level 2) 		Significant
Unobservable
Inputs
(Level 3)		NAV as a Practical
Expedient 		Total
(in millions of dollars)
Invested Assets
Diversified Growth Assets$32.3 $— $— $8.3 $40.6 
Fixed Income and Index-linked Securities70.6 — — — 70.6 
Alternative Investments— — — 28.1 28.1 
Cash Equivalents1.9 — — — 1.9 
Total Invested Assets$104.8 $— $— $36.4 $141.2 
Other Postretirement Benefit Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Defined Benefit Plan, Plan Assets, Category
The categorization of fair value measurements by input level for the assets in our OPEB plan is as follows:

 December 31, 2023
 Quoted Prices
in Active Markets
for Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
(in millions of dollars)
Assets
Life Insurance Contracts$— $— $8.2 $8.2 

December 31, 2022
 Quoted Prices
in Active Markets
for Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
(in millions of dollars)
Assets
Life Insurance Contracts$— $— $8.5 $8.5 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
Changes in our OPEB plan assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2023 and 2022 are as follows:
 Year Ended December 31, 2023
 Beginning
of Year		Actual Return on Plan AssetsContributionsNet Benefits and Expenses PaidEnd of Year
 
(in millions of dollars)
Life Insurance Contracts$8.5 $— $8.7 $(9.0)$8.2 

 Year Ended December 31, 2022
 Beginning
of Year		Actual Return on Plan AssetsContributionsNet Benefits and Expenses PaidEnd of Year
 
(in millions of dollars)
Life Insurance Contracts$9.0 $0.1 $9.5 $(10.1)$8.5