Retirement and Deferred Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Reconciliation of Changes in Benefit Obligations and the Statement of Funded Status of Plan

The reconciliation of the changes in the plans’ benefit obligations, the fair value of plan assets and the funded status of the plans are as follows:

	United States Plans						Non-United States Plans
Year Ended December 31		2022		2021				2022		2021
Change in Benefit Obligation
Benefit obligation, beginning of year	$	26.0		$	28.5		$	897.9		$	965.6
Service cost		—			—			19.4			22.0
Interest cost		0.5			0.4			8.2			5.7
Settlements		—			—			(57.4	)		(61.7	)
Transfers		—			—			31.1			52.8
Actuarial gain		(3.7	)		(0.6	)		(218.7	)		(47.3	)
Plan participant contributions		—			—			13.0			14.1
Benefits paid		(2.3	)		(2.3	)		(11.4	)		(12.8	)
Currency exchange rate changes		—			—			(49.8	)		(40.5	)
Benefit obligation, end of year	$	20.5		$	26.0		$	632.3		$	897.9

	United States Plans						Non-United States Plans
Year Ended December 31		2022		2021				2022		2021
Change in Plan Assets
Fair value of plan assets, beginning of year	$	—		$	—		$	762.5		$	753.6
Actual return on plan assets		—			—			(166.7	)		24.3
Settlements		—			—			(57.4	)		(61.7	)
Transfers		—			—			31.8			52.8
Plan participant contributions		—			—			13.0			14.1
Company contributions		2.3			2.3			17.1			18.7
Benefits paid		(2.3	)		(2.3	)		(11.4	)		(12.8	)
Currency exchange rate changes		—			—			(41.1	)		(26.5	)
Fair value of plan assets, end of year	$	—		$	—		$	547.8		$	762.5
Funded Status at End of Year
Funded status, end of year	$	(20.5	)	$	(26.0	)	$	(84.5	)	$	(135.4	)
Amounts Recognized
Noncurrent assets	$	—		$	—		$	26.6		$	51.2
Current liabilities		(2.4	)		(2.3	)		(1.2	)		(0.8	)
Noncurrent liabilities		(18.1	)		(23.7	)		(109.9	)		(185.8	)
Net amount recognized	$	(20.5	)	$	(26.0	)	$	(84.5	)	$	(135.4	)

The reconciliation of the changes in the plan’s benefit obligation and the statement of the funded status of the plan were as follows:

Year Ended December 31	2022			2021
Change in Benefit Obligation
Benefit obligation, beginning of year	$	14.1		$	14.6
Interest cost		0.3			0.2
Actuarial (gain) loss		(2.1	)		0.1
Benefits paid		(0.8	)		(0.8	)
Benefit obligation, end of year	$	11.5		$	14.1
Funded Status at End of Year
Funded status, end of year	$	(11.5	)	$	(14.1	)
Amounts Recognized
Current liabilities	$	(1.2	)	$	(1.2	)
Noncurrent liabilities		(10.3	)		(12.9	)
Net amount recognized	$	(11.5	)	$	(14.1	)

Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss, Net of Tax

Amounts recognized in accumulated other comprehensive loss, net of tax, consisted of:

	United States Plans				Non-United States Plans
Year Ended December 31		2022	2021			2022	2021
Net loss	$	4.5	$	7.8	$	4.6	$	41.8
Prior service cost		—		—		3.1		7.1
Total	$	4.5	$	7.8	$	7.7	$	48.9

Schedule of Plans With Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

The accumulated benefit obligation for some of our plans exceeded the fair value of plan assets as follows:

December 31		2022	2021
Accumulated benefit obligation	$	113.4	$	181.8
Plan assets		76.8		99.4

Schedule of Plans With Projected Benefit Obligation in Excess of Fair Value of Plan Assets

The PBO for some of our plans exceeded the fair value of plan assets as follows:

December 31		2022	2021
Projected benefit obligation	$	117.4	$	188.3
Plan assets		76.8		99.4

Schedule of Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss

The components of the net periodic benefit cost and other amounts recognized in other comprehensive income (loss) for all plans were as follows:

Year Ended December 31		2022		2021			2020
Net Periodic Benefit Cost
Service cost	$	19.4		$	22.0		$	21.0
Interest cost		8.7			6.1			9.4
Expected return on assets		(14.7	)		(12.2	)		(13.5	)
Settlements		2.7			1.0			13.8
Net loss		1.8			4.6			2.7
Prior service cost		0.7			0.7			0.7
Net periodic benefit cost		18.6			22.2			34.1
Other Changes in Plan Assets and Benefit Obligation Recognized in Other Comprehensive Income/Loss
Net (gain) loss		(40.9	)		(60.0	)		44.1
Prior service (credit) cost		(0.2	)		—			0.4
Amortization of net loss		(5.0	)		(5.6	)		(6.3	)
Amortization of prior service cost		(0.7	)		(0.7	)		(0.7	)
Total recognized in other comprehensive income/loss		(46.8	)		(66.3	)		37.5
Total recognized in net periodic benefit cost and other comprehensive income/loss	$	(28.2	)	$	(44.1	)	$	71.6

The components of net periodic benefit cost and other amounts recognized in other comprehensive loss for this plan were as follows:

Year Ended December 31	2022			2021			2020
Net Periodic Benefit Credit
Interest cost	$	0.3		$	0.2		$	0.4
Net loss		0.2			0.2			0.1
Prior service credit		(0.8	)		(0.8	)		(0.8	)
Net periodic benefit credit	$	(0.3	)	$	(0.4	)	$	(0.3	)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income/Loss
Net (gain) loss	$	(2.0	)	$	0.2		$	1.1
Amortization of net loss		(0.2	)		(0.2	)		(0.1	)
Amortization of prior service credit		0.8			0.8			0.8
Total recognized in other comprehensive income/loss		(1.4	)		0.8			1.8
Total recognized in net periodic benefit cost and other comprehensive income/loss	$	(1.7	)	$	0.4		$	1.5

Schedule of Weighted-Average Assumptions Used in Measurement of Benefit Obligation and Net Periodic Benefit Cost

The weighted-average assumptions used in the measurement of the benefit obligation were as follows:

	United States Plans						Non-United States Plans
Year Ended December 31		2022		2021				2022		2021
Discount rate		5.4	%		2.6	%		3.2	%		1.0	%
Rate of compensation increase		1.3	%		1.3	%		1.9	%		1.7	%

The weighted-average assumptions used in the measurement of the net periodic benefit cost were as follows:

	United States Plans									Non-United States Plans
Year Ended December 31		2022		2021			2020				2022		2021			2020
Discount rate		2.6	%		2.1	%		2.5	%		1.0	%		0.6	%		1.1	%
Expected long-term return on plan assets	N/A			N/A			N/A				2.2	%		1.8	%		2.2	%
Rate of compensation increase		1.3	%		—	%		—	%		1.7	%		1.7	%		1.7	%
Interest crediting rates for cash balance plans	N/A			N/A			N/A				0.5	%		1.9	%		2.0	%

Schedule of Fair Value of Plan Assets By Asset Category

The fair value of our pension plan assets by asset category was as follows:

	Fair Value Measurements Using
	December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Cash and cash equivalents	$	18.3	$	18.3	$	—	$	—
Equity securities:
Mutual funds		114.5		114.5		—		—
Common stock		29.0		29.0		—		—
Fixed income instruments:
Fixed income funds		73.7		—		73.7		—
Bonds		38.0		—		38.0		—
Annuity contract		33.5		—		—		33.5
Guaranteed insurance contracts		21.3		—		21.3		—
Other types of investments:
Real estate funds		95.3		—		94.0		1.3
Insurance contracts		76.7		—		—		76.7
Hedge funds		28.7		—		13.5		15.2
Other		18.8		—		3.3		15.5
	$	547.8	$	161.8	$	243.8	$	142.2

	Fair Value Measurements Using
	December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Cash and cash equivalents	$	18.8	$	18.8	$	—	$	—
Equity securities:
Mutual funds		141.5		141.5		—		—
Common stock		37.7		37.7		—		—
Fixed income instruments:
Fixed income funds		175.0		—		175.0		—
Annuity contract		51.7		—		—		51.7
Bonds		44.9		—		44.9		—
Guaranteed insurance contracts		21.3		—		21.3		—
Other types of investments:
Insurance contracts		129.6		—		—		129.6
Real estate funds		102.1		—		100.8		1.3
Hedge funds		29.2		—		12.6		16.6
Other		10.7		—		3.4		7.3
	$	762.5	$	198.0	$	358.0	$	206.5

Schedule of Changes in Fair Value of Pension Assets Measured Using Level 3 Inputs

The following table summarizes the changes in fair value of the pension assets that are measured using Level 3 inputs. We determined that transfers between fair-value-measurement levels occurred on the date of the event that caused the transfer.

Year Ended December 31	2022			2021
Balance, beginning of year	$	206.5		$	242.6
Actual return on plan assets		(61.2	)		(21.6	)
Purchases, sales and settlements, net		7.4			(3.1	)
Currency exchange rate changes		(10.5	)		(11.4	)
Balance, end of year	$	142.2		$	206.5

Schedule of Projected Future Benefit Payments

Projected benefit payments from the plans as of December 31, 2022 were estimated as follows:

Year	Pension Plans		Retiree Health Care Plan
2023	$	67.8	$	1.2
2024		42.4		1.2
2025		32.9		1.1
2026		29.9		1.1
2027		27.3		1.0
2028–2032		158.3		4.6
Total projected benefit payments	$	358.6	$	10.2