Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Defined Benefit Pension Plans

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Assumptions used in accounting for the defined benefit plan

The assumptions used in accounting for the defined benefit plans were as follows for the years ended December 31:

	2012	2011	2010
United States Plans
Weighted average discount rates	3.50% - 3.90%	4.30% - 4.55%	5.10% - 5.30%
Expected long-term rate of return on assets	7.75%	8.25%	8.50%
Non-U.S. Plan
Weighted average discount rate	4.00%	4.25%	5.25%
Rate of increase in compensation levels	3.50%	3.50%	3.50%
Expected long-term rate of return on assets	6.00%	6.25%	6.50%

Net periodic benefit income and expense for the defined benefit plan

Set forth below is a detail of the net periodic pension expense for the defined benefit plans for the years ended December 31:

	2012			2011			2010
United States Plans
Interest cost	$	3.1		$	3.4		$	3.6
Expected return on plan assets	(4.3		)	(4.4		)	(5.0		)
Amortization of actuarial loss	2.8			2.3			1.6
Amortization of prior service credit	(0.1		)	(0.1		)	—
Net periodic pension expense	$	1.5		$	1.2		$	0.2
Non-U.S. Plan
Interest cost	$	0.2		$	0.2		$	0.2
Expected return on plan assets	(0.2		)	(0.3		)	(0.3		)
Amortization of actuarial loss	0.1			—			—
Net periodic pension benefit expense (income)	$	0.1		$	(0.1	)	$	(0.1	)

Changes in plan assets and benefit obligations recognized in comprehensive income (loss)

Set forth below is a detail of other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for the years ended December 31:

	2012			2011			2010
United States Plans
Current year actuarial loss	$	3.1		$	7.0		$	1.6
Amortization of actuarial loss	(2.8		)	(2.3		)	(1.6		)
Current year prior service credit	—			—			(0.2		)
Amortization of prior service credit	0.1			0.1			—
Total recognized in other comprehensive income (loss)	$	0.4		$	4.8		$	(0.2	)
Non-U.S. Plan
Current year actuarial loss	$	—		$	1.2		$	0.3
Amortization of actuarial loss	(0.1		)	(0.1		)	(0.1		)
Total recognized in other comprehensive income (loss)	$	(0.1	)	$	1.1		$	0.2

Changes in benefit obligations during the year and funded status of defined benefit plan

The following table sets forth the changes in the benefit obligation and the plan assets during the year and the funded status of the defined benefit plans at December 31:

	2012						2011
	U.S. Plans			Non-U.S. Plan			U.S. Plans			Non-U.S. Plan
Change in benefit obligation
Projected benefit obligation at beginning of year	$	69.8		$	4.9		$	65.8		$	4.4
Interest cost	3.1			0.2			3.4			0.2
Actuarial loss	5.3			0.2			4.8			0.7
Benefits paid	(5.2		)	(0.1		)	(4.2		)	(0.3		)
Foreign currency exchange rate changes	—			—			—			(0.1		)
Projected benefit obligation at end of year	$	73.0		$	5.2		$	69.8		$	4.9
Accumulated benefit obligation at end of year	$	73.0		$	5.2		$	69.8		$	4.9
Change in plan assets
Fair value of plan assets at beginning of year	$	51.6		$	4.6		$	53.2		$	5.2
Actual return on plan assets	6.5			0.4			2.2			(0.2		)
Employer contributions	7.1			—			0.4			—
Benefits paid	(5.2		)	(0.1		)	(4.2		)	(0.3		)
Foreign currency exchange rate changes	—			0.1			—			(0.1		)
Fair value of plan assets at end of year	$	60.0		$	5.0		$	51.6		$	4.6
Funded status at end of year	$	(13.0	)	$	(0.2	)	$	(18.2	)	$	(0.3	)
Amounts recognized in the balance sheets consist of:
Current liabilities	$	(0.5	)	$	—		$	(0.7	)	$	—
Non-current liabilities	(12.5		)	(0.2		)	(17.5		)	(0.3		)
	$	(13.0	)	$	(0.2	)	$	(18.2	)	$	(0.3	)
Components of accumulated other comprehensive income (loss) consist of:
Actuarial loss	$	32.2		$	2.3		$	31.8		$	2.5
Prior service credit	0.2			—			0.1			—
Deferred taxes	(13.3		)	(0.9		)	(12.2		)	(1.0		)
	$	19.1		$	1.4		$	19.7		$	1.5

Future benefit payments

Future pension benefit payments expected to be paid from assets of the pension plans are:

	U.S. Plans		Non-U.S. Plan
2013	$	4.4	$	0.1
2014	4.5		0.2
2015	4.5		0.2
2016	4.5		0.2
2017	4.6		0.2
2018 - 2022	23.6		1.1
	$	46.1	$	2.0

Actual allocation percentage and target allocation percentage for pension plan assets

The following is the actual allocation percentage and target allocation percentage for the U.S. pension plan assets at December 31:

	2012 Actual Allocation		2011 Actual Allocation		Target Allocation Range
U.S. equity securities	52.0	%	52.6	%	41.0% - 62.0%
Non-U.S. equity securities	12.5	%	11.8	%	10.0% - 16.0%
Fixed income securities	34.5	%	34.6	%	30.0% - 40.0%
Money market	1.0	%	1.0	%	0.0% - 10.0%

The following is the actual allocation percentage and target allocation percentage for the HBB Canadian pension plan assets at December 31:

	2012 Actual Allocation		2011 Actual Allocation		Target Allocation Range
Canadian equity securities	34.0	%	33.0	%	28.0% - 38.0%
Non-Canadian equity securities	37.0	%	34.0	%	27.0% - 37.0%
Fixed income securities	29.0	%	33.0	%	25.0% - 45.0%
Cash and cash equivalents	—	%	—	%	0.0% - 5.0%

Fair value of pension plan assets

Following are the values as of December 31:

	Level 1				Level 2
	2012		2011		2012		2011
U.S. equity securities	$	31.4	$	27.2	$	—	$	—
Non-U.S. equity securities	7.4		6.1		3.5		3.1
Fixed income securities	20.6		17.9		1.5		1.5
Money market	0.6		0.4		—		—
Total	$	60.0	$	51.6	$	5.0	$	4.6

Other Postretirement Benefit Plans, Defined Benefit

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Assumptions used in accounting for the defined benefit plan

The assumptions used in accounting for the postretirement benefit plans are set forth below for the years ended December 31:

	2012		2011		2010
Weighted average discount rates	3.05	%	3.90	%	4.70	%
Health care cost trend rate assumed for next year	7.0	%	7.5	%	7.5	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.0	%	5.0	%	5.0	%
Year that the rate reaches the ultimate trend rate	2022		2018		2018

Net periodic benefit income and expense for the defined benefit plan

Set forth below is a detail of the net periodic benefit income for the postretirement health care and life insurance plans for the years ended December 31:

	2012			2011			2010
Service cost	$	0.1		$	0.1		$	0.1
Interest cost	0.1			0.2			0.2
Amortization of actuarial loss	0.1			—			0.1
Amortization of prior service credit	(0.2		)	(0.2		)	(0.3		)
Plan amendments	—			—			(0.9		)
Net periodic benefit income (expense)	$	0.1		$	0.1		$	(0.8	)

Changes in plan assets and benefit obligations recognized in comprehensive income (loss)

Set forth below is a detail of other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for the years ended December 31:

	2012			2011		2010
Current year actuarial loss	$	0.3		$	—	$	0.6
Amortization of actuarial loss	(0.1		)	—		(0.1		)
Amortization of prior service credit	0.2			0.2		0.3
Total recognized in other comprehensive income	$	0.4		$	0.2	$	0.8

Changes in benefit obligations during the year and funded status of defined benefit plan

The following sets forth the changes in benefit obligations during the year and the funded status of the postretirement health care and life insurance plans at December 31:

	2012			2011
Change in benefit obligation
Benefit obligation at beginning of year	$	3.1		$	3.2
Service cost	0.1			0.1
Interest cost	0.1			0.2
Actuarial loss	0.3			—
Benefits paid	(0.3		)	(0.4		)
Benefit obligation at end of year	$	3.3		$	3.1
Funded status at end of year	$	(3.3	)	$	(3.1	)
Amounts recognized in the balance sheets consist of:
Current liabilities	$	(0.2	)	$	(0.2	)
Noncurrent liabilities	(3.1		)	(2.9		)
	$	(3.3	)	$	(3.1	)
Components of accumulated other comprehensive income (loss) consist of:
Actuarial loss	$	0.5		$	0.2
Prior service credit	(0.5		)	(0.7		)
Deferred taxes	0.7			0.2
	$	0.7		$	(0.3	)

Future benefit payments

Future postretirement benefit payments expected to be paid are:

2013	$	0.2
2014	0.3
2015	0.3
2016	0.3
2017	0.3
2018 - 2022	1.4
	$	2.8

Effect of one-percentage-point change in assumed health care cost trend rates

A one-percentage-point change in the assumed health care cost trend rates would have the following effects at December 31, 2012:

	1-Percentage-Point Increase		1-Percentage-Point Decrease
Effect on total of service and interest cost	$	—	$	—
Effect on postretirement benefit obligation	$	0.2	$	(0.2	)