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BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Reconciliations of Changes in the Defined Benefit and Postretirement Healthcare Plans' Benefit Obligations, Fair Value of Assets and Statement of Funded Status
Reconciliations of changes in the defined benefit obligations, fair value of assets and statement of funded status at December 31 were as follows:
      
  Pension Benefits 
(in millions)20182017
Change in Benefit Obligation     
Benefit obligation at beginning of year $545.5 $473.1 
Service cost 16.2 15.7 
Interest cost 7.3 6.5 
Participant contributions 4.2 4.1 
Actuarial losses (gains)(11.1)9.1 
Plan amendments(3.8)0.4 
Acquisitions/Divestitures 0.3 — 
Effect of exchange rate changes (20.3)50.4 
Plan curtailments and settlements(17.5)(0.2)
Benefits paid (9.0)(13.6)
Benefit obligation at end of year $511.8 $545.5 
Change in Plan Assets     
Fair value of plan assets at beginning of year $185.7 $156.8 
Actual return on assets (7.5)12.4 
Plan settlements(13.4)(0.2)
Effect of exchange rate changes (2.4)8.8 
Employer contributions 15.5 17.4 
Participant contributions 4.2 4.1 
Benefits paid (9.0)(13.6)
Fair value of plan assets at end of year $173.1 $185.7 
Funded status at end of year $(338.7)$(359.8)
Amounts Recognized in the Accompanying Consolidated Balance Sheets, Net of Tax Effects
The amounts recognized in the accompanying Consolidated Balance Sheets, net of tax effects, at December 31 are as follows:
  Location On ThePension Benefits 
(in millions)Consolidated Balance Sheets20182017
Deferred tax asset Other noncurrent assets, net $27.5 $34.8 
Total assets $27.5 $34.8 
Current liabilities Accrued liabilities (8.4)(8.7)
Other noncurrent liabilitiesOther noncurrent liabilities(330.3)(351.1)
Deferred tax liability Deferred income taxes (0.4)(0.6)
Total liabilities $(339.1)$(360.4)
Accumulated other comprehensive income Accumulated other comprehensive loss 77.9 86.2 
Net amount recognized $(233.7)$(239.4)
Amounts Recognized in Accumulated Other Comprehensive Income
Amounts recognized in AOCI at December 31 consisted of:
      
  Pension Benefits 
(in millions)20182017
Net actuarial loss $109.7 $121.7 
Net prior service cost (4.6)(1.3)
Before tax AOCI$105.1 $120.4 
Less: Deferred taxes27.2 34.2 
Net of tax AOCI$77.9 $86.2 
Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets
Information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31:
(in millions)20182017
Projected benefit obligation $487.7 $517.0 
Accumulated benefit obligation 465.0 491.7 
Fair value of plan assets 149.0 160.0 
Components of Net Periodic Benefit Cost
Components of net periodic benefit cost for the years ended December 31:
  Pension Benefits Location on Consolidated 
(in millions)201820172016Statements of Operations 
Service cost $6.1 $6.0 $6.5 Cost of products sold 
Service cost 10.1 9.7 9.2 Selling, general and administrative expenses 
Interest cost 7.3 6.5 8.0 Other expense (income), net 
Expected return on plan assets(5.3)(4.0)(5.1)Other expense (income), net 
Amortization of transition obligation— — — Other expense (income), net 
Amortization of prior service credit(0.2)(0.2)(0.2)Other expense (income), net 
Amortization of net actuarial loss6.2 6.9 5.1 Other expense (income), net 
Curtailment and settlement (gains) loss(1.2)— 1.2 Other expense (income), net 
Net periodic benefit cost $23.0 $24.9 $24.7 
a) Prior period presented reflects adoption of ASU 2017-07. For further discussion on the reclassification, refer to Note 1, Significant Accounting Policies.
Other Changes in Plan Assets and Benefit Obligations Recognized in AOCI
Other changes in plan assets and benefit obligations recognized in AOCI for the years ended December 31:
  Pension Benefits 
(in millions)201820172016
Net actuarial (gain) loss$(5.8)$13.3 $20.3 
Net prior service (credit) cost (3.5)0.3 0.4 
Amortization (6.0)(6.7)(4.9)
Total recognized in AOCI $(15.3)$6.9 $15.8 
Total recognized in net periodic benefit cost and AOCI
$7.7 $31.8 $40.5 
Amounts in AOCI that are Expected to be Amortized as Net Expense (Income) During Next Fiscal Year
The expected amounts of net loss, prior service cost and transition obligation for defined benefit plans in AOCI that are expected to be amortized as net expense (income) during 2019 are as follows:
(in millions)
Pension
Benefits
Amount of net prior service credit$(0.5)
Amount of net loss 5.6 
Total amount to be amortized out of AOCI in 2019$5.1 
Weighted Average Assumptions Used to Determine Benefit Obligations, Principally in Foreign Locations
The weighted average assumptions used to determine benefit obligations for the Company’s plans, principally in foreign locations, for the years ended December 31, are as follows:
    Pension Benefits 
  201820172016
Discount rate 1.8%  1.6%  1.6%  
Rate of compensation increase 2.5%  2.5%  2.6%  
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
The weighted average assumptions used to determine net periodic benefit cost for the Company’s plans, principally in foreign locations, for the years ended December 31, are as follows:
    Pension Benefits 
    201820172016
Discount rate 1.6%  1.6%  2.1%  
Expected return on plan assets 2.9%  2.9%  3.3%  
Rate of compensation increase 2.5%  2.6%  2.5%  
Measurement Date 12/31/201812/31/201712/31/2016
Fair Value Measurements of Plan Assets The fair value of the Company’s pension plan assets at December 31, 2018 and 2017 is presented in the table below by asset category. Approximately 73% of the total plan assets are categorized as Level 1, and therefore, the values assigned to these pension assets are based on quoted prices available in active markets.  For the other category levels, a description of the valuation is provided in Note 1, Significant Accounting Policies, under the “Fair Value Measurement” heading.
  December 31, 2018
(in millions)Total Level 1 Level 2 Level 3 
Assets Category         
Cash and cash equivalents $12.4 $12.4 $— $— 
Equity securities:         
International 47.2 47.2 — — 
Fixed income securities:         
Fixed rate bonds (a)
49.2 49.2 — — 
Other types of investments:         
Mutual funds (b)
17.4 17.4 — — 
Common trusts (c)
11.8 — 11.8 — 
Insurance contracts 27.7 — — 27.7 
Hedge funds 7.1 — — 7.1 
Real estate 0.3 — — 0.3 
Total$173.1 $126.2 $11.8 $35.1 

  December 31, 2017
(in millions)Total Level 1 Level 2 Level 3 
Assets Category         
Cash and cash equivalents $18.2 $18.2 $— $— 
Equity securities:         
International 53.0 53.0 — — 
Fixed income securities:         
Fixed rate bonds (a)
48.5 48.5 — — 
Other types of investments:         
Mutual funds (b)
16.3 16.3 — — 
Common trusts (c)
13.3 — 13.3 — 
Insurance contracts 29.0 — — 29.0 
Hedge funds 7.1 — — 7.1 
Real estate 0.3 — — 0.3 
Total$185.7 $136.0 $13.3 $36.4 
(a)This category includes fixed income securities invested primarily in Swiss bonds, foreign bonds denominated in Swiss francs, foreign currency bonds, mortgage notes and pledged letters.
(b) This category includes mutual funds balanced between moderate-income generation and moderate capital appreciation with investment allocations of approximately 50% equities and 50% fixed income investments.
(c )This category includes common/collective funds with investments in approximately 65% equities and 35% in fixed income investments.
Reconciliation for the Plans Assets Categorized as Level 3
The following table provides a reconciliation from December 31, 2017 to December 31, 2018 for the plan assets categorized as Level 3. During the year ended December 31, 2018, no assets were transferred in or out of the Level 3 category.  
December 31, 2018
(in millions)
Insurance
Contracts
Hedge
Funds
Real
Estate
Total 
Balance at December 31, 2017$29.0 $7.1 $0.3 $36.4 
Actual return on plan assets:         
Relating to assets still held at the reporting date (1.1)(0.6)— (1.7)
Purchases, sales and settlements, net 1.1 0.7 — 1.8 
Effect of exchange rate changes(1.3)(0.1)— (1.4)
Balance at December 31, 2018$27.7 $7.1 $0.3 $35.1 
The following tables provide a reconciliation from December 31, 2016 to December 31, 2017 for the plan assets categorized as Level 3.  During the year ended December 31, 2017, no assets were transferred out of the Level 3 category.
December 31, 2017
(in millions)
Insurance
Contracts
Hedge
Funds
Real
Estate
Total 
Balance at December 31, 2016$25.1 $4.0 $0.3 $29.4 
Actual return on plan assets:        
Relating to assets still held at the reporting date0.8 0.2 — 1.0 
Purchases, sales and settlements, net(0.3)2.7 — 2.4 
Effect of exchange rate changes3.4 0.2 — 3.6 
Balance at December 31, 2017$29.0 $7.1 $0.3 $36.4 
Estimated Future Benefit Payments
Estimated Future Benefit Payments
(in millions)
Pension
Benefits
2019 $16.6 
2020 18.8 
2021 18.4 
2022 19.4 
2023 20.2 
2024-2028 115.5