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Employee Benefit Plans and Other Postretirement Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Schedule of Obligations and Funded Status of Defined Benefit Pension and Postretirement Benefit Plans
The following table, which includes only company-sponsored defined benefit and other postretirement benefit plans, reconciles the beginning and ending balances of the projected benefit obligation and the fair value of plan assets. We recognize the unfunded status of these plans on the Consolidated Balance Sheets, and we recognize changes in funded status in the year changes occur through the Consolidated Statements of Comprehensive Income (dollars in millions):
 
Pension Plans
 
Postretirement Plans
 
Year Ended December 31
 
Year Ended December 31
 
2016
 
2015
 
2016
 
2015
Change in Benefit Obligation
 
 
 
 
 
 
 
Benefit obligation at beginning of period
$
1,092.5

 
$
1,129.6

 
$
21.4

 
$
31.9

Service cost
24.5

 
24.0

 
0.5

 
1.7

Interest cost
40.9

 
46.2

 
0.6

 
1.2

Plan amendments
1.8

 
3.0

 
(5.3
)
 
—

Actuarial (gain) loss (a)
35.3

 
(75.7
)
 
3.7

 
(11.4
)
Participant contributions
—

 
—

 
1.3

 
1.2

Benefits paid
(36.6
)
 
(34.6
)
 
(2.7
)
 
(3.2
)
Benefit obligation at plan year end
$
1,158.4

 
$
1,092.5

 
$
19.5

 
$
21.4

Accumulated benefit obligation portion of above
$
1,116.6

 
$
1,048.5

 
 
 
 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
Plan assets at fair value at beginning of period
$
764.4

 
$
805.9

 
$
—

 
$
—

Actual return on plan assets
44.4

 
(8.1
)
 
—

 
—

Company contributions
58.2

 
1.2

 
1.4

 
2.0

Participant contributions
—

 
—

 
1.3

 
1.2

Benefits paid
(36.6
)
 
(34.6
)
 
(2.7
)
 
(3.2
)
Fair value of plan assets at plan year end
$
830.4

 
$
764.4

 
$
—

 
$
—

 
 
 
 
 
 
 
 
Underfunded status
$
(328.0
)
 
$
(328.1
)
 
$
(19.5
)
 
$
(21.4
)
 
 
 
 
 
 
 
 
Amounts Recognized on Consolidated Balance Sheets
 
 
 
 
 
 
 
Current liabilities
$
(1.3
)
 
$
(0.9
)
 
$
(1.2
)
 
$
(1.1
)
Noncurrent liabilities
(326.7
)
 
(327.2
)
 
(18.3
)
 
(20.3
)
Accrued obligation recognized at December 31
$
(328.0
)
 
$
(328.1
)
 
$
(19.5
)
 
$
(21.4
)
Amounts Recognized in Accumulated Other Comprehensive (Income) Loss (Pre-Tax)
 
 
 
 
 
 
 
Prior service cost (credit)
$
21.1

 
$
25.1

 
$
(5.0
)
 
$
0.2

Actuarial loss (gain)
183.9

 
149.4

 
(1.9
)
 
(6.0
)
Total
$
205.0

 
$
174.5

 
$
(6.9
)
 
$
(5.8
)
___________
(a)
The actuarial loss in 2016 was due primarily to a decrease in the weighted average discount rate used to estimate our pension benefit obligations, and updated mortality assumptions from the Society of Actuaries. In 2015, the increase in the weighted average discount rate used to estimate our pension benefit obligations and changes in mortality assumptions from the Society of Actuaries resulted in an actuarial gain.
Components of Net Periodic Benefit Costs and Other Comprehensive (Income) Loss (Pretax)
The components of net periodic benefit cost and other comprehensive (income) loss (pretax) were as follows (dollars in millions):
 
Pension Plans
 
Postretirement Plans
 
Year Ended December 31
 
Year Ended December 31
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost
$
24.5

 
$
24.0

 
$
22.7

 
$
0.5

 
$
1.7

 
$
1.6

Interest cost
40.9

 
46.2

 
45.9

 
0.6

 
1.2

 
1.2

Expected return on plan assets
(49.5
)
 
(53.1
)
 
(50.7
)
 
—

 
—

 
—

Special termination benefits
—

 
—

 
0.3

 
—

 
—

 
—

Net amortization of unrecognized amounts
 
 
 
 
 
 
 
 
 
 
 
Prior service cost (credit)
5.7

 
5.5

 
6.5

 
(0.1
)
 
0.1

 
(0.2
)
Actuarial loss
5.8

 
8.7

 
0.6

 
(0.4
)
 
0.1

 
0.1

Net periodic benefit cost
$
27.4

 
$
31.3

 
$
25.3

 
$
0.6

 
$
3.1

 
$
2.7

 
 
 
 
 
 
 
 
 
 
 
 
Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
 
 
 
 
 
 
 
 
 
 
 
Actuarial net (gain) loss
$
40.4

 
$
(14.5
)
 
$
146.4

 
$
3.6

 
$
(11.4
)
 
$
4.2

Prior service cost (credit)
1.8

 
3.0

 
2.6

 
(5.3
)
 
—

 
—

Amortization of prior service cost
(5.7
)
 
(5.5
)
 
(6.5
)
 
(0.3
)
 
(0.1
)
 
0.2

Amortization of actuarial loss
(5.8
)
 
(8.7
)
 
(0.6
)
 
0.8

 
(0.1
)
 
(0.1
)
Total recognized in other comprehensive (income) loss (a)
30.7

 
(25.7
)
 
141.9

 
(1.2
)
 
(11.6
)
 
4.3

Total recognized in net periodic benefit cost and other comprehensive (income) loss - pretax
$
58.1

 
$
5.6

 
$
167.2

 
$
(0.6
)
 
$
(8.5
)
 
$
7.0

___________
(a)
Accumulated losses in excess of 10% of the greater of the projected benefit obligation or the market-related value of assets will be recognized on a straight-line basis over the average remaining service period of active employees in PCA plans (which is between seven to ten years) and over average remaining lifetime of inactive participants of Boise plans (which is between 26 and 29 years), to the extent that losses are not offset by gains in subsequent years. The estimated net loss and prior service cost that will be amortized from "Accumulated other comprehensive loss" into net periodic benefit in 2017 is $12.7 million.
Weighted-Average Assumptions Used To Determine Benefit Obligations and Net Periodic Benefit Cost
The following table presents the assumptions used in the measurement of our benefits obligations:
 
Pension Plans
 
Postretirement Plans
 
December 31
 
December 31
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Weighted-Average Assumptions Used to Determine Benefit Obligations at December 31
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.24%
 
4.51%
 
4.14%
 
3.91%
 
4.35%
 
3.95%
Rate of compensation increase
4.00%
 
4.00%
 
4.00%
 
N/A
 
N/A
 
N/A
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for the Years Ended December 31
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.49%
 
4.14%
 
5.00%
 
4.17%
 
3.95%
 
4.85%
Expected return on plan assets
6.57%
 
6.73%
 
6.69%
 
N/A
 
N/A
 
N/A
Rate of compensation increase
4.00%
 
4.00%
 
4.00%
 
N/A
 
N/A
 
N/A
Assumed Health Care Cost Trend Rates For Postretirement Benefits
Health Care Cost Trend Rate Assumptions. PCA assumed health care cost trend rates for its postretirement benefits plans were as follows:
 
2016
 
2015
 
2014
Health care cost trend rate assumed for next year
7.35%
 
7.60%
 
7.75%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
4.50%
 
4.50%
 
5.00%
Year that the rate reaches the ultimate trend rate
2025
 
2024
 
2023
Schedule of Effects of One-Percentage Point Change In Assumed Health Care Cost Trend Rates on Postretirement Benefits
A one-percentage point change in assumed health care cost trend rates would have the following effects on the 2016 postretirement benefit obligation and the 2016 net post retirement benefit cost (dollars in millions):
 
1-Percentage
Point Increase
 
1-Percentage
Point Decrease
Effect on postretirement benefit obligation
$
1.0

 
$
(0.9
)
Effect on net postretirement benefit cost
0.1

 
(0.1
)
Schedule of Pension Plans' Assets Investment Policies and Strategies
ension plans were invested in the following classes of securities at December 31, 2016 and 2015:
 
Percentage
of Fair Value
 
2016
 
2015
Fixed income securities
54
%
 
55
%
International equity securities
23

 
22

Domestic equity securities
21

 
20

Real estate securities
1

 
1

Other
1

 
2
Schedule of Pension Plans' Assets Fair Value Measured On a Recurring Basis
The following tables set forth, by level within the fair value hierarchy, discussed in Note 2, Summary of Significant Accounting Policies, the pension plan assets, by major asset category, at fair value at December 31, 2016 and 2015 (dollars in millions):
 
Fair Value Measurements at December 31, 2016
Asset Category 
Quoted Prices in Active Markets for Identical
Assets (Level 1)
 
Significant Other Observable
Inputs (Level 2)  
 
Significant
Unobservable
Inputs (Level 3) 
 
Total
Short-term investments (a)
$
—

 
$
1.5

 
$
—

 
$
1.5

Mutual funds (b):
 

 
 

 
 

 
 

Domestic equities
65.7

 
—

 
—

 
65.7

International equities
68.7

 
—

 
—

 
68.7

Real estate
9.6

 
—

 
—

 
9.6

Fixed income
108.4

 
64.8

 
—

 
173.2

Common/collective trust funds (a):
 
 
 
 
 
 
 
Domestic equities
—

 
107.9

 
—

 
107.9

International equities
—

 
124.5

 
—

 
124.5

Fixed income
—

 
271.6

 
—

 
271.6

Private equity securities (c)
—

 
—

 
5.7

 
5.7

Total securities at fair value
$
252.4

 
$
570.3

 
$
5.7

 
$
828.4

Receivables and accrued expenses
 
 
 
 
 
 
2.0

Total fair value of plan assets
 
 
 
 
 
 
$
830.4


 
Fair Value Measurements at December 31, 2015
Asset Category 
Quoted Prices in Active Markets for Identical
Assets (Level 1)
 
Significant Other Observable
Inputs (Level 2)  
 
Significant
Unobservable
Inputs (Level 3) 
 
Total
Short-term investments (a)
$
—

 
$
4.1

 
$
—

 
$
4.1

Mutual funds (b):
 

 
 

 
 

 
 

Domestic equities
47.1

 
—

 
—

 
47.1

International equities
50.7

 
—

 
—

 
50.7

Real estate
8.5

 
—

 
—

 
8.5

Fixed income
156.5

 
—

 
—

 
156.5

Common/collective trust funds (a):
 
 
 
 
 
 
 
Domestic equities
—

 
104.4

 
—

 
104.4

International equities
—

 
121.6

 
—

 
121.6

Fixed income
—

 
263.0

 
—

 
263.0

Private equity securities (c)
—

 
—

 
6.4

 
6.4

Total securities at fair value
$
262.8

 
$
493.1

 
$
6.4

 
$
762.3

Receivables and accrued expenses
 
 
 
 
 
 
2.1

Total fair value of plan assets
 
 
 
 
 
 
$
764.4

 ____________
(a)
Investments in common/collective trust funds valued using net asset values (NAV) provided by the administrator of the funds. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of units outstanding. While the underlying assets are actively traded on an exchange, the funds are not. There are currently no redemption restrictions on these investments. There are certain funds with one-day redeemable notice.
(b)
Investments in mutual funds valued at quoted market values on the last business day of the fiscal year.
(c)
Investments in this category are invested in the Pantheon Global Secondary Fund IV, LP. The fund specializes in investments in the private equity secondary market and occasionally directly in private companies to maximize capital growth. Fund investments are carried at fair value as determined quarterly using the market approach to estimate the fair value of private investments. The market approach utilizes prices and other relevant information generated by market transactions, type of security, size of the position, degree of liquidity, restrictions on the disposition, latest round of financing data, current financial position, and operating results, among other factors. In circumstances where fair values are not provided with respect to any of the company's fund investments, the investment advisor will seek to determine the fair value of such investments based on information provided by the general partners or managers of such funds or from other sources. Audited financial statements are provided by fund management annually. Notwithstanding the above, the variety of valuation bases adopted and quality of management data of the ultimate underlying investee companies means that there are inherent difficulties in determining the value of the investments. Amounts realized on the sale of these investments may differ from the calculated values. Boise had originally committed to a $15.0 million investment, with $5.0 million of the commitment unfunded at December 31, 2016.
Summary of Changes in Pension Plans' Level 3 Assets
The following table sets forth a summary of changes in the fair value of the pension plans' Level 3 assets for the year ended December 31, 2016 (dollars in millions):
 
2016
Balance, beginning of year
$
6.4

Sales
(0.7
)
Balance, end of year
$
5.7
Schedule of Estimated Benefit Payments
The following are estimated benefit payments to be paid to current plan participants by year (dollars in millions). Qualified pension benefit payments are paid from plan assets, while nonqualified pension benefit payments are paid by the Company.
 
Pension Plans
 
Postretirement 
Plans
2017
$
41.1

 
$
1.2

2018
45.0

 
1.3

2019
48.9

 
1.3

2020
52.6

 
1.4

2021
56.2

 
1.3

2021 - 2025
327.7

 
6.1