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Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Reconciliation of the beginning and ending balances of projected benefit obligation and fair value of plan assets [Table Text Block]

The reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets for the years ended December 31, 2014 and 2013, and the funded status at December 31, 2014 and 2013, is as follows:



(in millions)	2014			2013
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,188.8		$	1,345.7
Service cost	4.3			4.3
Interest cost	60.7			56.2
Benefits paid	(101.1		)	(76.5		)
Actuarial (gain) loss	214.1			(131.6		)
Expenses paid from assets	(11.3		)	(9.6		)
Other	(0.3		)	0.3
Benefit obligation at year end	$	1,355.2		$	1,188.8
Change in plan assets:
Fair value of plan assets at prior year end	$	808.4		$	799.4
Actual return on plan assets	141.6			31.9
Employer contributions	62.3			62.9
Benefits paid	(101.1		)	(76.5		)
Expenses paid from assets	(11.3		)	(9.6		)
Other	(0.6		)	0.3
Fair value of plan assets at year end	$	899.3		$	808.4
Funded status at year end	$	(455.9	)	$	(380.4	)

Amounts recognized for pension [Table Text Block]

Amounts recognized in the consolidated balance sheets for pension benefits at December 31 are as follows:



(in millions)	2014		2013
Noncurrent assets	$	1.9	$	1.7
Current liabilities	0.4		0.6
Noncurrent liabilities	457.4		381.5

Amounts recognized in accumulated other comprehensive loss [Table Text Block]

Amounts recognized in accumulated other comprehensive loss at December 31 consist of:

Information for penison plans with ABO in excess of plan assets [Table Text Block]

Information for pension plans with an ABO in excess of plan assets at December 31, 2014 and 2013 is as follows:



	At December 31, 2014
(in millions)	ABO Exceeds Assets		Assets Exceed ABO		Total
Projected benefit obligation	$	1,349.0	$	6.2	$	1,355.2
Accumulated benefit obligation	1,349.0		4.6		1,353.6
Fair value of plan assets	891.2		8.1		899.3



	At December 31, 2013
(in millions)	ABO Exceeds Assets		Assets Exceed ABO		Total
Projected benefit obligation	$	1,182.1	$	5.3	$	1,187.4
Accumulated benefit obligation	1,182.1		6.7		1,188.8
Fair value of plan assets	799.9		8.5		808.4

Schedule of assumptions used [Table Text Block]

Weighted average actuarial assumptions used to determine benefit obligations at December 31:



	2014		2013
Discount rate	4.33	%	5.23	%

Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31:



	2014		2013		2012
Discount rate	5.23	%	4.28	%	5.23	%
Expected rate of return on assets	7.0	%	7.0	%	7.0	%
Mortality table	RP-2000 Projected to 2014		RP-2000 Projected to 2013		RP-2000 Projected to 2012

Schedule of expected benefit payments [Table Text Block]

Expected benefit payments from our qualified and non-qualified defined benefit pension plans for each of the next five years and the total payments for the following five years ended December 31 are as follows:



(in millions)	2015		2016		2017		2018		2019		2020-2024
Expected benefit payments	$	76.3	$	76.4	$	76.7	$	78.1	$	79.9	$	406.7

Components of net periodic pension cost recognized in other comprehensive income [Table Text Block]



(in millions)	2014			2013
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,188.8		$	1,345.7
Service cost	4.3			4.3
Interest cost	60.7			56.2
Benefits paid	(101.1		)	(76.5		)
Actuarial (gain) loss	214.1			(131.6		)
Expenses paid from assets	(11.3		)	(9.6		)
Other	(0.3		)	0.3
Benefit obligation at year end	$	1,355.2		$	1,188.8
Change in plan assets:
Fair value of plan assets at prior year end	$	808.4		$	799.4
Actual return on plan assets	141.6			31.9
Employer contributions	62.3			62.9
Benefits paid	(101.1		)	(76.5		)
Expenses paid from assets	(11.3		)	(9.6		)
Other	(0.6		)	0.3
Fair value of plan assets at year end	$	899.3		$	808.4
Funded status at year end	$	(455.9	)	$	(380.4	)

Schedule of Costs of Retirement Plans [Table Text Block]

The components of our net periodic pension cost, other post-retirement costs and other amounts recognized in other comprehensive loss for the years ended December 31, 2014, 2013 and 2012 were as follows:



(in millions)	2014			2013			2012
Net periodic benefit cost:
Service cost	$	4.3		$	4.3		$	3.9
Interest cost	60.7			56.2			59.3
Expected return on plan assets	(53.7		)	(55.6		)	(51.1		)
Amortization of prior net loss	12.8			14.8			9.0
Net periodic pension cost	$	24.1		$	19.7		$	21.1
Other changes in plan assets and benefit obligations recognized in other comprehensive loss (income):
Net actuarial loss (gain) and other adjustments	$	126.3		$	(107.7	)	$	170.4
Less amortization of prior losses	(12.8		)	(14.8		)	(9.0		)
Total recognized in other comprehensive loss (income)	113.5			(122.5		)	161.4
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$	137.6		$	(102.8	)	$	182.5

Pension assets at fair value [Table Text Block]

The table below details by level, within the fair value hierarchy, the pension assets at fair value as of December 31, 2014:



	Pension Assets at Fair Value as of December 31, 2014
(in millions)	Level 1		Level 2		Level 3		Total
Equities	$	112.2	$	111.9	$	—	$	224.1
Private equities	—		—		104.7		104.7
Fixed income:
Corporate	7.9		33.0		130.1		171.0
Government	106.9		157.4		—		264.3
Other	—		—		—		—
Absolute return	—		120.6		—		120.6
Interest bearing	14.6		—		—		14.6
Total plan assets	$	241.6	$	422.9	$	234.8	$	899.3

The table below details by level, within the fair value hierarchy, the pension assets at fair value as of December 31, 2013:



	Pension Assets at Fair Value as of December 31, 2013
(in millions)	Level 1		Level 2		Level 3		Total
Equities	$	113.3	$	106.4	—		$	219.7
Private equities	—		—		60.3		60.3
Fixed income:
Corporate	4.3		33.7		111.4		149.4
Government	98.0		102.8		—		200.8
Other	10.1		—		—		10.1
Absolute return	6.2		138.6		—		144.8
Interest bearing	23.3		—		—		23.3
Total plan assets	$	255.2	$	381.5	$	171.7	$	808.4

Assets measured at fair value on a recurring basis (Level 3) [Table Text Block]

The table below presents the activity of our assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):



(in millions)	Private Equities			Fixed income			Total Level 3
Balance at December 31, 2012	$	38.8		$	96.1		$	134.9
Purchases	6.4			9.6			16.0
Sales	(6.4		)	(5.3		)	(11.7		)
Unrealized gain (loss)	21.5			11.0			32.5
Balance at December 31, 2013	$	60.3		$	111.4		$	171.7
Purchases	32.8			5.0			37.8
Sales	(1.0		)	(4.3		)	(5.3		)
Unrealized gain (loss)	12.6			18.0			30.6
Balance at December 31, 2014	$	104.7		$	130.1		$	234.8

Level 3 assets using NAV [Table Text Block]

The following table sets forth a summary of the Level 3 assets for which the fair value is not readily determinable but a reported NAV is used to estimate the fair value as of December 31, 2014:



	Fair value estimated using Net Asset Value per Share
(in millions)	Fair Value		Unfunded Commitments		Redemption Frequency	Redemption Notice Period
Private equities ^(a)	$	67.7	$	18.2	Redemptions not permitted
Fixed income ^(b)	130.1		12.6		Redemptions not permitted
Total	$	197.8


(a)	Consists of private equity investments in renewable energy, healthcare and Chinese technology.


(b)	Primarily consists of investments in and debt securities secured by royalty payments from marketers of pharmaceuticals.

The following table sets forth a summary of the Level 3 assets for which the fair value is not readily determinable but a reported NAV is used to estimate the fair value as of December 31, 2013:



	Fair value estimated using Net Asset Value per Share
(in millions)	Fair Value		Unfunded Commitments		Redemption Frequency	Redemption Notice Period
Private equities ^(a)	$	60.3	$	18.0	Redemptions not permitted
Fixed income ^(b)	111.4		16.0		Redemptions not permitted
Total	$	171.7


(a)	Consists of five private equity funds investing in renewable solar energy, acquisition of pharmaceutical company interests, Chinese technology and healthcare companies.


(b)	Consists of three fixed income funds which invest in debt securities secured by royalty payments from marketers of pharmaceutical products.

Schedule of multiemployer plans [Table Text Block]

The following table provides additional information related to our participation in individually significant multi-employer pension plans for the year ended December 31, 2014:



		Pension Protection Zone Status ^(b)		Funding Improvement or Rehabilitation Plan	Employer Surcharge Imposed	Expiration Date of Collective-Bargaining Agreement
Pension Fund ^(a)	EIN Number	2014	2013	Funding Improvement or Rehabilitation Plan	Employer Surcharge Imposed	Expiration Date of Collective-Bargaining Agreement
Central States, Southwest and Southwest Areas Pension Fund	36-6044243	Red	Red	Yes	No	3/31/2019
Teamsters National 401K Savings Plan ^(c)	52-1967784	N/A	N/A	N/A	No	3/31/2019
I.B. of T. Union Local No 710 Pension Fund	36-2377656	Green	Green	No	No	3/31/2019
Central Pennsylvania Teamsters Defined Benefit Plan	23-6262789	Green	Yellow	Yes	No	3/31/2019
Road Carriers Local 707 Pension Fund	51-6106510	Not Available	Red	Yes	No	3/31/2019
Teamsters Local 641 Pension Fund	22-6220288	Red	Red	Yes	No	3/31/2019

^(a)The determination of individually significant multi-employer plans is based on the relative contributions to the plans over the periods presented as well as other factors.

^(b)The Pension Protection Zone Status is based on information that the Company obtained from the plans’ Forms 5500. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available for 2014 and 2013 is for the plan’s year-end during calendar years 2013 and 2012, respectively. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded.

^(c)The policies of the Western Conference of Teamsters Pension Trust precluded the Company from reentering the plan on June 1, 2011. The plan did not assess a withdrawal liability and has not done so since June 1, 2011. Contributions related to the employees previously covered by this plan are now being made to the Teamsters National 401(k) Plan.

We expensed the following amounts related to these plans for the years ended December 31:



(in millions)	2014		2013		2012
Health and welfare	$	416.2	$	399.5	$	387.5
Pension	93.6		89.1		85.6
Total	$	509.8	$	488.6	$	473.1

Schedule of multiemployer plans [Table Text Block]

The following table provides additional information related to our participation in individually significant multi-employer pension plans for the year ended December 31, 2014:



		Pension Protection Zone Status ^(b)		Funding Improvement or Rehabilitation Plan	Employer Surcharge Imposed	Expiration Date of Collective-Bargaining Agreement
Pension Fund ^(a)	EIN Number	2014	2013	Funding Improvement or Rehabilitation Plan	Employer Surcharge Imposed	Expiration Date of Collective-Bargaining Agreement
Central States, Southwest and Southwest Areas Pension Fund	36-6044243	Red	Red	Yes	No	3/31/2019
Teamsters National 401K Savings Plan ^(c)	52-1967784	N/A	N/A	N/A	No	3/31/2019
I.B. of T. Union Local No 710 Pension Fund	36-2377656	Green	Green	No	No	3/31/2019
Central Pennsylvania Teamsters Defined Benefit Plan	23-6262789	Green	Yellow	Yes	No	3/31/2019
Road Carriers Local 707 Pension Fund	51-6106510	Not Available	Red	Yes	No	3/31/2019
Teamsters Local 641 Pension Fund	22-6220288	Red	Red	Yes	No	3/31/2019

^(a)The determination of individually significant multi-employer plans is based on the relative contributions to the plans over the periods presented as well as other factors.

We expensed the following amounts related to these plans for the years ended December 31:



(in millions)	2014		2013		2012
Health and welfare	$	416.2	$	399.5	$	387.5
Pension	93.6		89.1		85.6
Total	$	509.8	$	488.6	$	473.1

Pension amounts contributed by fund [Table Text Block]

The following table provides the pension amounts contributed by fund for those funds that are considered to be individually significant:



(in millions)	2014		2013		2012
Central States, Southeast and Southwest Areas Pension Plan	$	52.2	$	52.1	$	51.9
Teamsters National 401K Savings Plan	13.1		11.2		11.0
I.B. of T. Union Local No 710 Pension Fund	4.9		4.4		4.1
Central Pennsylvania Teamsters Defined Benefit Plan	4.3		4.5		4.5
Road Carriers Local 707 Pension Fund	2.3		2.3		2.5
Teamsters Local 641 Pension Fund	1.5		1.6		1.6

(in millions)

Net actuarial loss