Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2016

Retirement Plans

Schedule of breakdown of shares held by ESOP

(in millions)	2016		2015		2014
Common shares held		1.2		1.3		1.4

Defined Benefit Plans

Retirement Plans

Schedule of weighted-average assumptions for benefit obligations

	2016		2015
Discount rate		3.86%		4.15%
Rate of compensation increase		3.82%		4.29%

Schedule of weighted-average assumptions for net periodic benefit cost

	2016		2015		2014
Discount rate		4.35%		3.87%		4.58%
Rate of compensation increase		4.29%		4.29%		4.29%
Expected long-term return on plan assets		6.20%		6.30%		6.48%

Schedule of reconciliation of the beginning and ending balances of the projected pension benefit obligation, the fair value of the plan assets and the ending accumulated benefit obligation

(in millions)	2016		2015
Funded status
Projected benefit obligation
Beginning of year	$	174.3	$	192.3
Change in benefit obligation:
Service cost		3.4		3.7
Interest cost		5.4		7.1
Plan amendments		(0.1)		-
Actuarial (gain)/loss		1.2		(16.7)
Benefits paid		(11.7)		(12.1)
End of year	$	172.5	$	174.3
Fair value of plan assets
Beginning of year	$	162.7	$	177.3
Change in plan assets:
Actual return on plan assets		11.2		(3.5)
Company contributions		1.0		1.0
Benefits paid		(11.7)		(12.1)
End of year	$	163.2	$	162.7
(Unfunded) status end of year	$	(9.3)	$	(11.6)
Accumulated benefit obligation at end of year	$	171.5	$	173.5

Schedule of net asset (liability)

(in millions)	2016		2015
Noncurrent assets	$	12.4	$	9.7
Current liabilities		(1.4)		(1.0)
Noncurrent liabilities		(20.3)		(20.3)
Asset (liability) at end of year	$	(9.3)	$	(11.6)

Schedule of amounts included in accumulated other comprehensive loss

(in millions)	2016		2015
Unrecognized actuarial losses (gross)	$	40.2	$	42.2
Unrecognized actuarial losses (net of tax)		25.3		26.4
Unrecognized prior service costs (gross)		0.9		1.1
Unrecognized prior service costs (net of tax)		0.5		0.7

Components of net periodic benefit cost

(in millions)	2016		2015		2014
Service cost	$	3.4	$	3.7	$	4.0
Interest cost		5.4		7.1		7.7
Expected return on plan assets		(10.1)		(10.2)		(10.8)
Amortization of unrecognized net loss		2.1		4.1		3.3
Amortization of unrecognized prior service credit		0.2		0.2		0.3
Net periodic benefit cost	$	1.0	$	4.9	$	4.5

Schedule of fair value of the plans' assets by asset category

The fair value measurement of the plans’ assets by asset category at December 31 were as follows:

	Quoted Prices in Active Markets
	for Identical Assets (Level 1)
Asset Category (in millions)	2016		2015
Cash	$	0.6	$	0.6
Mutual funds:
Equity mutual funds(1)	$	20.6	$	19.8
Fixed income mutual funds (2)		142.0		142.3
Total	$	163.2	$	162.7

(1) This category is comprised of investments in mutual funds that invest in equity securities such as large publicly traded companies listed in the S&P 500 Index; small to medium sized companies with market capitalization in the range of the Russell 2500 Index; and foreign issuers in emerging markets.

(2) This category is comprised of investments in mutual funds that invest in U.S. corporate and government fixed income securities, including asset‑backed securities; high yield fixed income securities primarily rated BB, B, CCC, CC, C and D; and US dollar denominated debt securities of government, government related and corporate issuers in emerging market countries.

Summary of estimated future benefits to be paid for the Company's defined benefit pension plans and post-retirement medical plan

The following is a summary of estimated future benefits to be paid for the Company’s defined benefit pension plans at December 31, 2016:

(in millions)	Estimated Benefit
Year	Payments
2017	$	15.7
2018		15.4
2019		14.8
2020		14.8
2021		14.4
2022-2026		63.1