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Employee Retirement and Other Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
Components of Net Periodic Benefit Cost
Net Periodic Benefit Cost
Components of net periodic benefit cost for the years ended 2012, 2011 and 2010 were as follows:
 
Pension Benefits 
 
Other Postretirement Benefits
 
2012
 
2011
 
2010
 
2012
 
2011
 
2010
 
(in millions)
Service cost
$
25.7

 
$
23.7

 
$
20.2

 
$
1.7

 
$
1.9

 
$
2.2

Interest cost
43.8

 
42.6

 
38.6

 
1.9

 
2.6

 
3.3

Expected return on plan assets
(43.4
)
 
(44.3
)
 
(46.0
)
 
—

 
—

 
—

Amortization of prior service costs (credits)
—

 
0.1

 
0.1

 
(2.7
)
 
(1.6
)
 
(0.3
)
Recognized net actuarial losses
27.0

 
17.3

 
10.2

 
1.3

 
1.1

 
1.1

Net periodic benefit cost
$
53.1

 
$
39.4

 
$
23.1

 
$
2.2

 
$
4.0

 
$
6.3
Change in Projected Benefit Obligation and Plan Assets and Funded Status of Plans
Benefit Obligation, Change in Plan Assets and Funded Status
The table below presents components of the change in projected benefit obligation, change in plan assets and funded status at December 31, 2012 and 2011.
 
Pension Benefits 
 
Other Postretirement Benefits
 
2012
 
2011
 
2012
 
2011
 
(in millions)
Change in Projected Benefit Obligation
 
Projected benefit obligation, beginning of year
$
933.2

 
$
774.0

 
$
42.5

 
$
57.9

Service cost
25.7

 
23.7

 
1.7

 
1.9

Interest cost
43.8

 
42.6

 
1.9

 
2.6

Participant contributions
1.5

 
1.6

 
—

 
—

Plan changes
(1.6
)
 
—

 
—

 
(22.6
)
Actuarial losses
93.3

 
113.2

 
2.5

 
3.8

Benefits paid
(17.9
)
 
(16.1
)
 
(0.7
)
 
(1.1
)
Impact of foreign currency translation
6.6

 
(5.8
)
 
—

 
—

Projected benefit obligation, end of year
1,084.6

 
933.2

 
47.9

 
42.5

 
 
 
 
 
 
 
 
Change in Plan Assets
 

 
 

 
 

 
 

Fair value of plan assets, beginning of year
729.9

 
627.2

 
—

 
—

Actual return on plan assets
103.0

 
74.2

 
—

 
—

Company contributions
47.1

 
48.7

 
0.7

 
1.1

Participant contributions
1.5

 
1.6

 
—

 
—

Benefits paid
(17.9
)
 
(16.1
)
 
(0.7
)
 
(1.1
)
Impact of foreign currency translation
5.7

 
(5.7
)
 
—

 
—

Fair value of plan assets, end of year
869.3

 
729.9

 
—

 
—

Funded status of plans
$
(215.3
)
 
$
(203.3
)
 
$
(47.9
)
 
$
(42.5
)
Net Accrued Benefit Costs Reported in the Consolidated Balance Sheet
Net accrued benefit costs for pension plans and other postretirement benefits are reported in the following components of the Company’s consolidated balance sheet at December 31, 2012 and 2011:
 
Pension Benefits 
 
Other Postretirement Benefits 
 
2012
 
2011
 
2012
 
2011
 
(in millions)
Investments and other assets
$
5.7

 
$
3.5

 
$
—

 
$
—

Accrued compensation
(2.7
)
 
(2.4
)
 
(1.3
)
 
(1.2
)
Other liabilities
(218.3
)
 
(204.4
)
 
(46.6
)
 
(41.3
)
Net accrued benefit costs
$
(215.3
)
 
$
(203.3
)
 
$
(47.9
)
 
$
(42.5
)
Funded Status Disclosures for Defined Benefit Pension Plans with Benefit Obligations in Excess of Plan Assets
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with a projected benefit obligation in excess of the fair value of plan assets and pension plans with accumulated benefit obligations in excess of the fair value of plan assets at December 31, 2012 and 2011 were as follows:
 
Projected Benefit
Obligation
Exceeds
the Fair Value of
Plan Assets 
 
Accumulated
Benefit
Obligation
Exceeds the Fair
Value of
Plan Assets 
 
2012
 
2011
 
2012
 
2011
 
(in millions)
Projected benefit obligation
$
1,061.6

 
$
914.2

 
$
980.9

 
$
726.0

Accumulated benefit obligation
965.8

 
833.1

 
900.7

 
674.0

Fair value of plan assets
840.6

 
707.3

 
762.7

 
537.6
Fair Values of the Plan Assets by Investment Category
The table below presents total plan assets by investment category as of December 31, 2012 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value:
 
Total 
 
Level 1 
 
Level 2 
 
Level 3 
 
(in millions)
Cash and Equivalents
$
16.2

 
$
—

 
$
16.2

 
$
—

Equity Securities
 

 


 


 


U.S. small-cap growth
26.5

 
26.5

 
—

 
—

U.S. large-cap index
74.0

 
74.0

 
—

 
—

International equities
201.4

 
201.4

 
—

 
—

Fixed Income Securities
 

 


 


 


U.S. Treasury bonds
87.3

 
—

 
87.3

 
—

Global corporate bonds
345.4

 
—

 
345.4

 
—

International bond funds
82.6

 
—

 
82.6

 
—

Global corporate bond funds
14.6

 
14.6

 
—

 
—

International government bond funds
21.3

 
21.3

 
—

 
—

 
$
869.3

 
$
337.8

 
$
531.5

 
$
—
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost and Projected Benefit Obligations
Assumptions
The weighted-average assumptions used to determine net periodic benefit cost and projected benefit obligation were as follows:
 
Pension Benefits 
 
Other
Postretirement Benefits 
 
2012
 
2011
 
2010
 
2012
 
2011
 
2010
For Determining Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
 
 
U.S. Plans:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.63
%
 
5.51
%
 
6.04
%
 
4.60
%
 
5.56
%
 
6.09
%
Expected return on plan assets
6.75
%
 
7.25
%
 
8.25
%
 
—

 
—

 
—

Rate of compensation increase
4.00
%
 
4.00
%
 
4.25
%
 
—

 
—

 
—

Non-U.S. Pension Plans:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
5.14
%
 
5.57
%
 
6.16
%
 
 
 
 
 
 
Expected return on plan assets
4.80
%
 
5.70
%
 
5.85
%
 
 
 
 
 
 
Rate of compensation increase
3.04
%
 
3.10
%
 
3.25
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For Determining Projected Benefit Obligation
 
 
 
 
 
 
 
 
 
 
 
U.S. Plans:
 
 
 
 
 

 
 
 
 
 
 
Discount rate
4.23
%
 
4.63
%
 
 
 
4.21
%
 
4.60
%
 
 
Rate of compensation increase
4.00
%
 
4.00
%
 
 
 
—

 
—

 
 
Non-U.S. Pension Plans:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.55
%
 
5.14
%
 
 
 
 
 
 
 
 
Rate of compensation increase
2.89
%
 
3.04
%
 
 
 
 
 
 
 
 
Estimated Benefit Payments Over the Next 10 Years
Estimated Future Benefit Payments
Estimated benefit payments over the next 10 years for the Company’s U.S. and major non-U.S. pension plans and retiree health plan are as follows:
 
Pension
Benefits
 
Other
Postretirement
Benefits
 
(in millions)
2013
$
24.7

 
$
1.3

2014
27.1

 
1.6

2015
29.9

 
1.8

2016
33.1

 
2.0

2017
36.8

 
2.3

2018 – 2022
237.1

 
15.0

 
$
388.7

 
$
24.0