XML 29 R33.htm IDEA: XBRL DOCUMENT v2.4.0.6
Retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2012
Retirement Benefits Pension And Postretirement [Line Items]  
Schedule Of Net Benefit Costs [Table Text Block]
 (In millions) U.S. Plans Non-U.S. Plans  Total 
 Years Ended December 31, 201220112010 201220112010 201220112010 
               
 Service cost$ - - -$ 11.1 10.2 6.6$ 11.1 10.2 6.6 
 Interest cost on projected benefit obligation  43.8 46.2 46.5  19.1 16.9 13.4  62.9 63.1 59.9 
 Return on assets – expected  (60.0) (65.0) (66.8)  (12.2) (12.0) (10.6)  (72.2) (77.0) (77.4) 
 Amortization of losses  39.5 28.2 19.5  4.0 2.8 1.9  43.5 31.0 21.4 
 Amortization of prior service cost  - - -  2.0 1.5 1.3  2.0 1.5 1.3 
 Settlement loss   5.0 - -  3.3 2.2 0.1  8.3 2.2 0.1 
 Net periodic pension cost (credit)$ 28.3 9.4 (0.8)$ 27.3 21.6 12.7$ 55.6 31.0 11.9 
Schedule of Obligations and Funded Status [Table Text Block]
 (In millions) U.S. Plans Non-U.S. Plans Total  
 Years Ended December 31, 2012 2011 2012 2011 2012 2011 
                
 Benefit obligation at beginning of year$ 990.7  890.1  306.9  289.6  1,297.6  1,179.7 
 Service cost  -  -  11.1  10.2  11.1  10.2 
 Interest cost  43.8  46.2  19.1  16.9  62.9  63.1 
 Participant contributions  -  -  3.5  3.5  3.5  3.5 
 Plan amendments  -  -  11.7  -  11.7  - 
 Curtailments  -  -  (0.4)  -  (0.4)  - 
 Settlements  (13.9)  -  (3.2)  (2.8)  (17.1)  (2.8) 
 Benefits paid  (42.3)  (39.7)  (22.0)  (15.9)  (64.3)  (55.6) 
 Actuarial losses  53.0  94.1  54.9  15.9  107.9  110.0 
 Foreign currency exchange effects  -  -  10.7  (10.5)  10.7  (10.5) 
 Benefit obligation at end of year$ 1,031.3  990.7  392.3  306.9  1,423.6  1,297.6 
                
 Fair value of plan assets at beginning of year$ 685.4  698.4  230.5  218.6  915.9  917.0 
 Return on assets – actual  89.9  26.0  34.7  7.9  124.6  33.9 
 Participant contributions  -  -  3.5  3.5  3.5  3.5 
 Employer contributions  37.2  0.7  32.8  25.7  70.0  26.4 
 Settlements  (13.9)  -  (3.2)  (2.8)  (17.1)  (2.8) 
 Benefits paid  (42.3)  (39.7)  (22.0)  (15.9)  (64.3)  (55.6) 
 Foreign currency exchange effects  -  -  6.7  (6.5)  6.7  (6.5) 
 Fair value of plan assets at end of year$ 756.3  685.4  283.0  230.5  1,039.3  915.9 
                
 Funded status$ (275.0)  (305.3)  (109.3)  (76.4)  (384.3)  (381.7) 
                
 Included in:             
  Noncurrent asset$ -  -  (21.9)  (12.3)  (21.9)  (12.3) 
  Current liability, included in accrued liabilities  0.9  13.2  7.5  11.2  8.4  24.4 
  Noncurrent liability  274.1  292.1  123.7  77.5  397.8  369.6 
 Net pension liability $ 275.0  305.3  109.3  76.4  384.3  381.7 
Schedule of Assumptions Used [Table Text Block]
   U.S. Plans Non-U.S. Plans 
   2012 2011 2010 2012 2011 2010 
               
 Discount rate:            
  Pension cost 4.6%  5.3%  5.9%  5.4%  5.8%  6.2% 
  Benefit obligation at year end 4.2%  4.6%  5.3%  5.3%  5.4%  5.8% 
               
 Expected return on assets – pension cost 8.25%  8.75%  8.75%  4.92%  5.16%  5.54% 
               
 Average rate of increase in salaries (a):            
  Pension cost N/A N/A N/A  3.2%  3.3%  3.1% 
  Benefit obligation at year endN/A N/A N/A  3.8%  3.2%  3.3% 
Schedule of Changes of Level 3 Plan Assets [Table Text Block]
 (In millions)U.S. Pension Plans UMWA Plans Non-U.S. Pension Plans 
              
 Balance at December 31, 2010$ 98.1   40.4   0.8  
  Actual return on plan assets:          
   Relating to assets still held at the reporting date  (1.3)   (0.5)   -  
   Relating to assets sold during the period  -   -   (0.2)  
  Purchases, sales and settlements  -   -   -  
  Transfers in and/or out of Level 3  -   -   -  
 Balance at December 31, 2011  96.8   39.9   0.6  
              
  Actual return on plan assets:          
   Relating to assets still held at the reporting date  2.5   1.0   -  
   Relating to assets sold during the period  -   -   -  
  Purchases, sales and settlements  -   -   -  
  Transfers in and/or out of Level 3  -   -   -  
 Balance at December 31, 2012$ 99.3   40.9   0.6  
Schedule of Costs of Retirement Plans [Table Text Block]
 (In millions)          
 Years Ended December 31, 2012 2011 2010 
            
 U.S. 401(K)$ 4.6   16.9   16.3  
 Other plans  2.5   3.9   4.0  
 Total$ 7.1   20.8   20.3  
Pension plan [Member]
 
Retirement Benefits Pension And Postretirement [Line Items]  
Schedule of Other Changes in Plan Assets and Benefit Recognized in Other Comprehensive Income [Table Text Block]
 (In millions) U.S. Plans Non-U.S. Plans Total  
 Years Ended December 31, 2012 2011 2012 2011 2012 2011 
                  
                  
 Benefit plan net experience losses recognized in              
  accumulated other comprehensive income (loss):             
   Beginning of year$ (513.3)  (408.4)  (34.6)  (19.6)  (547.9)  (428.0) 
   Net experience losses arising during the year  (23.1)  (133.1)  (32.4)  (20.0)  (55.5)  (153.1) 
   Reclassification adjustment for amortization of             
    prior experience losses included in net income  44.5  28.2  7.3  5.0  51.8  33.2 
   End of year$ (491.9)  (513.3)  (59.7)  (34.6)  (551.6)  (547.9) 
                  
 Benefit plan prior service cost recognized in             
  accumulated other comprehensive income (loss):             
   Beginning of year$ -  -  (6.1)  (7.6)  (6.1)  (7.6) 
   Prior service cost from plan amendments              
    during the year  -  -  (11.7)  -  (11.7)  - 
   Reclassification adjustment for amortization of             
    prior service cost included in net income  -  -  2.0  1.5  2.0  1.5 
   End of year$ -  -  (15.8)  (6.1)  (15.8)  (6.1) 
Schedule of Expected Benefit Payments [Table Text Block]
 (In millions) U.S. Plans Non-U.S. Plans Total  
            
 2013$ 45.5   15.6   61.1  
 2014  46.8   14.3   61.1  
 2015  48.1   15.0   63.1  
 2016  49.2   16.0   65.2  
 2017  50.8   18.1   68.9  
 2018 through 2022$ 280.5   117.6   398.1  
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
 (In millions)  U.S. Plans Non-U.S. Plans Total
 December 31, 2012 2011 2012 2011 2012 2011 
                
 Pension plans with an accumulated benefit obligation in excess of plan assets:              
  Fair value of plan assets$ 756.3  685.4  137.2  117.5  893.5  802.9 
  Accumulated benefit obligation  1,031.3  990.7  223.2  179.8  1,254.5  1,170.5 
  Projected benefit obligation  1,031.3  990.7  268.4  206.4  1,299.7  1,197.1 
Retirement benefits other than pension [Member]
 
Retirement Benefits Pension And Postretirement [Line Items]  
Schedule Of Net Benefit Costs [Table Text Block]
 (In millions) UMWA plans  Black lung and other plans  Total 
 Years Ended December 31, 201220112010 201220112010 201220112010 
               
 Service cost$ - - -$ 0.6 - -$ 0.6 - - 
 Interest cost on APBO  22.3 24.0 27.1  2.8 2.8 2.9  25.1 26.8 30.0 
 Return on assets – expected  (21.3) (25.5) (25.3)  - - -  (21.3) (25.5) (25.3) 
 Amortization of losses  21.0 14.7 16.0  1.5 0.6 0.4  22.5 15.3 16.4 
 Amortization of prior service cost  - - -  2.0 2.0 1.4  2.0 2.0 1.4 
 Net periodic postretirement cost $ 22.0 13.2 17.8$ 6.9 5.4 4.7$ 28.9 18.6 22.5 
Schedule of Obligations and Funded Status [Table Text Block]
 (In millions) UMWA plans Black lung and other plans  Total  
 Years Ended December 31, 2012 2011 2012 2011 2012 2011 
                    
 APBO at beginning of year$ 529.6   474.3   60.9   62.2   590.5  536.5 
 Service cost  -   -   0.6   -   0.6  - 
 Interest cost  22.3   24.0   2.8   2.8   25.1  26.8 
 Plan amendments  -   -   (1.9)   -   (1.9)  - 
 Benefits paid  (35.7)   (39.1)   (6.6)   (7.0)   (42.3)  (46.1) 
 Medicare subsidy received  3.2   3.4   -   -   3.2  3.4 
 Actuarial (gains) losses, net  5.9   67.0   (2.2)   2.9   3.7  69.9 
 Foreign currency exchange effects  -   -   (0.6)   -   (0.6)  - 
 APBO at end of year$ 525.3   529.6   53.0   60.9   578.3  590.5 
                    
 Fair value of plan assets at beginning of year$ 268.0   310.2   -   -   268.0  310.2 
 Employer contributions  -   -   6.6   7.0   6.6  7.0 
 Return on assets – actual  33.5   (5.1)   -   -   33.5  (5.1) 
 Benefits paid  (36.0)   (40.5)   (6.6)   (7.0)   (42.6)  (47.5) 
 Medicare subsidy received  3.2   3.4   -   -   3.2  3.4 
 Fair value of plan assets at end of year$ 268.7   268.0   -   -   268.7  268.0 
                    
 Funded status$ (256.6)   (261.6)   (53.0)   (60.9)   (309.6)  (322.5) 
                    
 Included in:                 
  Current, included in accrued liabilities$ -   -   5.0   7.1   5.0  7.1 
  Noncurrent  256.6   261.6   48.0   53.8   304.6  315.4 
 Retirement benefits other than pension liability $ 256.6   261.6   53.0   60.9   309.6  322.5 
Schedule of Other Changes in Plan Assets and Benefit Recognized in Other Comprehensive Income [Table Text Block]
          Black lung and other     
 (In millions)  UMWA plans  plans  Total  
 Years Ended December 31, 2012 2011 2012 2011 2012 2011 
                  
 Benefit plan net experience gain (loss) recognized in              
  accumulated other comprehensive income (loss):             
   Beginning of year$ (323.0)  (240.1)  (9.9)  (7.6)  (332.9)  (247.7) 
   Net experience gains (losses) arising during the year  6.3  (97.6)  2.2  (2.9)  8.5  (100.5) 
   Reclassification adjustment for amortization of             
    prior experience losses included in net income  21.0  14.7  1.5  0.6  22.5  15.3 
   End of year$ (295.7)  (323.0)  (6.2)  (9.9)  (301.9)  (332.9) 
                  
 Benefit plan prior service (cost) credit recognized in             
  accumulated other comprehensive income (loss):             
   Beginning of year$ -  -  (13.3)  (15.3)  (13.3)  (15.3) 
   Prior service credit from plan amendments during the year  -  -  1.9  -  1.9  - 
   Reclassification adjustment for amortization or curtailment              
    of prior service cost included in net income  -  -  2.0  2.0  2.0  2.0 
   End of year$ -  -  (9.4)  (13.3)  (9.4)  (13.3) 
Schedule of Assumptions Used [Table Text Block]
    2012 2011 2010 
             
 Weighted-average discount rate:         
  Postretirement cost:         
   UMWA plans 4.4%  5.3%  5.9% 
   Black lung 4.2%  4.8%  5.3% 
   Weighted-average 4.4%  5.2%  5.8% 
  Benefit obligation at year end:          
   UMWA plans 3.9%  4.4%  5.3% 
   Black lung 3.5%  4.2%  4.8% 
   Weighted-average 3.9%  4.4%  5.2% 
 Expected return on assets 8.50%  8.75%  8.75% 
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
   Effect of Change in Assumed Healthcare Trend Rates
 (In millions) Increase 1% Decrease 1% 
          
 Higher (lower):       
  Service and interest cost in 2012$ 2.8   (2.3)  
  APBO at December 31, 2012  59.6   (50.3)  
Schedule of Expected Benefit Payments [Table Text Block]
   Before Medicare Subsidy    Medicare Net Projected 
 (In millions) UMWA plans Black lung and other plans Subtotal Subsidy Payments 
                  
 2013$ 38.1   5.2   43.3   (3.3)   40.0  
 2014  38.3   4.9   43.2   (3.4)   39.8  
 2015  38.6   4.6   43.2   (3.5)   39.7  
 2016  38.3   4.4   42.7   (3.5)   39.2  
 2017  38.0   4.1   42.1   (3.6)   38.5  
 2018 through 2022  186.8   17.0   203.8   (18.0)   185.8  
US Plans [Member]
 
Retirement Benefits Pension And Postretirement [Line Items]  
Schedule of Allocation of Plan Assets [Table Text Block]
    December 31, 2012 December 31, 2011 
      % %   % % 
    Total Fair Actual Target Total Fair Actual Target 
 (In millions, except percentages) Value Allocation Allocation Value Allocation Allocation 
                
 U.S. Pension Plans             
 Cash, cash equivalents and receivables$ 3.5  1  -  3.5  -  - 
 Equity securities:             
  U.S. large-cap (a)  227.3  30  30  209.9  31  30 
  U.S. small/mid-cap (a)  60.8  8  8  55.2  8  8 
  International (a)  94.1  12  12  79.8  12  12 
 Fixed-income securities:             
  Long duration (b)  179.0  24  23  158.0  23  23 
  High yield (c)  61.9  8  8  55.2  8  8 
  Emerging markets (d)  30.4  4  4  27.0  4  4 
 Other types of investments:             
  Hedge fund of funds (e)  99.3  13  15  96.8  14  15 
 Total$ 756.3  100  100  685.4  100  100 
                
 UMWA Plans             
 Equity securities:             
  U.S. large-cap (a)$ 97.2  36  37  101.8  38  37 
  U.S. small/mid-cap (a)  23.7  9  9  23.5  9  9 
  International (a)  39.3  15  14  33.5  13  14 
 Fixed-income securities:             
  High yield (c)  23.1  9  8  22.6  8  8 
  Emerging markets (d)  11.7  4  4  11.2  4  4 
  Multi asset real return (f)  32.8  12  13  35.5  13  13 
 Other types of investments:             
  Hedge fund of funds (e)  40.9  15  15  39.9  15  15 
 Total$ 268.7  100  100  268.0  100  100 
Non-US Plans [Member]
 
Retirement Benefits Pension And Postretirement [Line Items]  
Schedule of Allocation of Plan Assets [Table Text Block]
     December 31, 2012 December 31, 2011 
       % %   % % 
     Total Fair Actual Target Total Fair Actual Target 
 (In millions, except percentages) Value Allocation Allocation Value Allocation Allocation 
                 
 Non-U.S. Pension Plans             
 Cash and cash equivalents $ 2.6  1  -  1.0  -  - 
 Equity securities:             
  U.S. equity funds (a)  25.8      21.8     
  Canadian equity funds (a)  31.7      26.5     
  European equity funds (a)  7.4      5.3     
  Asia-pacific equity funds (a)  1.3      1.1     
  Emerging markets (a)  4.7      3.2     
  Other non-U.S. equity funds (a)  37.3      28.7     
   Total equity securities  108.2  38  39  86.6  38  40 
 Fixed-income securities:             
  Global credit (b)  34.3      28.9     
  Canadian fixed-income funds (c)  20.3      17.9     
  European fixed-income funds (d)  10.2      5.9     
  High-yield (e)  10.2      9.9     
  Emerging markets (f)  5.8      5.5     
  Long-duration (g)  76.1      63.9     
   Total fixed-income securities  156.9  55  56  132.0  57  55 
 Other types of investments:             
  Convertible securities (h)  10.1      7.3     
  Commodity Derivatives (i)  4.0      -     
  Other   1.2      3.6     
   Total other types of investments  15.3  6  5  10.9  5  5 
 Total$ 283.0  100  100  230.5  100  100