PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

(In millions)	One-percentage-point Increase		One-percentage-point Decrease

Effect on total of service and interest cost components	$	.01	$	(.01	)
Effect on postretirement benefit obligations		.3		(.2	)

		Pension Benefits												U.S. Postretirement Health Benefits
		2017						2016						2017			2016
(In millions)		U.S.			Int'l			U.S.			Int'l

Change in projected benefit obligations
Projected benefit obligations at beginning of year		$	1,033.7		$	762.9		$	1,088.9		$	674.7		$	5.0		$	5.9
Service cost			.5			18.2			.4			13.9			–			–
Interest cost			35.3			14.3			34.4			16.4			.1			.2
Participant contribution			–			3.4			–			2.9			.5			.5
Amendments			–			(2.1	)		–			(.6	)		–			–
Actuarial loss (gain)			73.1			(26.4	)		39.1			123.8			(.1	)		(.2	)
Plan transfers			–			(1.3	)		–			–			–			–
Acquisition (1)			–			–			–			14.6			–			–
Benefits paid			(60.5	)		(22.5	)		(59.9	)		(21.8	)		(1.4	)		(1.4	)
Curtailments			–			–			–			(.3	)		–			–
Settlements (2)			–			–			(69.2	)		–			–			–
Foreign currency translation			–			90.2			–			(60.7	)		–			–

Projected benefit obligations at end of year		$	1,082.1		$	836.7		$	1,033.7		$	762.9		$	4.1		$	5.0

Accumulated benefit obligations at end of year		$	1,082.1		$	355.6		$	1,033.7		$	704.8


(1)	In connection with the Mactac acquisition in August 2016, we assumed benefit obligations associated with two defined benefit plans in Belgium.
(2)	In 2016, settlements were related to the lump-sum pension payments associated with the ADPP.

	Pension Benefits												U.S. Postretirement Health Benefits
	2017						2016						2017			2016
(In millions)	U.S.			Int'l			U.S.			Int'l

Change in plan assets
Plan assets at beginning of year	$	672.1		$	584.2		$	704.9		$	552.1		$	–		$	–
Actual return on plan assets		90.1			34.2			42.9			79.4			–			–
Plan transfers		–			(.7	)		–			–			–			–
Acquisition (1)		–			–			–			8.9			–			–
Employer contributions		38.5			14.0			53.4			13.8			.9			.9
Participant contributions		–			3.4			–			2.9			.5			.5
Benefits paid		(60.5	)		(22.5	)		(59.9	)		(21.8	)		(1.4	)		(1.4	)
Settlements (2)		–			–			(69.2	)		–			–			–
Foreign currency translation		–			71.1			–			(51.1	)		–			–

Plan assets at end of year	$	740.2		$	683.7		$	672.1		$	584.2		$	–		$	–

(1)	In connection with the Mactac acquisition in August 2016, we assumed plan assets associated with two defined benefit plans in Belgium.
(2)	In 2016, settlements were related to the lump-sum pension payments associated with the ADPP.

	Pension Benefits												U.S. Postretirement Health Benefits
	2017						2016						2017			2016
(In millions)	U.S.			Int'l			U.S.			Int'l

Funded status of the plans
Other accrued liabilities	$	(33.4	)	$	(2.4	)	$	(13.5	)	$	(2.0	)	$	(.5	)	$	(.8	)
Long-term retirement benefits and other liabilities (1)		(308.5	)		(150.6	)		(348.1	)		(176.7	)		(3.6	)		(4.2	)

Plan assets less than benefit obligations	$	(341.9	)	$	(153.0	)	$	(361.6	)	$	(178.7	)	$	(4.1	)	$	(5.0	)

(1)	In accordance with our funding strategy, we have the option to fund certain of these liabilities with proceeds from our corporate-owned life insurance policies.

													U.S. Postretirement
	Pension Benefits												Health Benefits
	2017						2016						2017			2016
	U.S.			Int'l			U.S.			Int'l

Weighted-average assumptions used to determine year-end benefit obligations
Discount rate		3.71	%		2.25	%		4.25	%		2.12	%		3.55	%		3.95	%
Compensation rate increase		–			2.29			–			2.27			–			–

	Pension Benefits										U.S. Postretirement Health Benefits
	2017					2016					2017			2016
(In millions)	U.S.		Int'l			U.S.		Int'l

Net actuarial loss	$	567.2	$	186.5		$	564.2	$	213.6		$	17.0		$	18.5
Prior service cost (credit)		16.7		(7.4	)		17.5		(4.9	)		(13.1	)		(16.4	)
Net transition obligation		–		.1			–		.2			–			–

Net amount recognized in accumulated other comprehensive loss	$	583.9	$	179.2		$	581.7	$	208.9		$	3.9		$	2.1

	Pension Benefits																		U.S. Postretirement Health Benefits
	2017						2016						2015						2017			2016			2015
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Net actuarial loss (gain)	$	21.8		$	(17.2	)	$	39.1		$	48.9		$	21.1		$	11.3		$	–		$	(.2	)	$	(1.4	)
Prior service (credit) cost		–			(2.1	)		–			(.6	)		–			(.7	)		–			–			–
Amortization of unrecognized:
Net actuarial loss		(18.7	)		(10.8	)		(19.0	)		(7.0	)		(20.0	)		(9.4	)		(1.5	)		(1.7	)		(2.2	)
Prior service (cost) credit		(.9	)		.4			(1.2	)		.4			(1.2	)		.3			3.3			3.2			3.3
Net transition obligation		–			–			–			(.1	)		–			–			–			–			–
Curtailments		–			–			–			–			–			.2			–			–			–
Settlements		–			–			(41.4	)		–			–			(4.3	)		–			–			–

Net amount recognized in other comprehensive (income) loss	$	2.2		$	(29.7	)	$	(22.5	)	$	41.6		$	(.1	)	$	(2.6	)	$	1.8		$	1.3		$	(.3	)

	Pension Benefits																		U.S. Postretirement Health Benefits
	2017						2016						2015						2017			2016			2015
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Service cost	$	.5		$	18.2		$	.4		$	13.9		$	.4		$	13.8		$	–		$	–		$	–
Interest cost		35.3			14.3			34.4			16.4			45.8			17.3			.1			.1			.3
Actuarial (gain) loss		1.7			–			(.2	)		–			.4			–			–			–			–
Expected return on plan assets		(40.5	)		(21.1	)		(42.7	)		(21.4	)		(51.5	)		(21.5	)		–			–			–
Amortization of actuarial loss		18.7			10.8			19.0			7.0			20.0			9.4			1.5			1.7			2.2
Amortization of prior service cost (credit)		.9			(.4	)		1.2			(.4	)		1.2			(.3	)		(3.3	)		(3.2	)		(3.3	)
Amortization of transition obligation		–			–			–			.1			–			–			–			–			–
Recognized net (gain) loss on curtailments		–			–			–			(.2	)		–			(.2	)		–			–			–
Recognized loss on settlements (1)		–			–			41.4			–			–			4.3			–			–			–

Net periodic benefit cost (credit)	$	16.6		$	21.8		$	53.5		$	15.4		$	16.3		$	22.8		$	(1.7	)	$	(1.4	)	$	(.8	)

(1)

In 2016, we recognized a loss on settlements related to the ADPP as a result of making the lump-sum pension payments described above. In 2015, we recognized a loss on settlements related to pension plans in Germany and France as a result of the sale of a product line in our RBIS reportable segment. We also recognized a loss on settlements in Switzerland in 2015. These losses on settlements were recorded in "Other expense, net" in the Consolidated Statements of Income.

	Pension Benefits																		U.S. Postretirement Health Benefits
	2017						2016						2015						2017			2016			2015
	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Discount rate		4.18	%		2.12	%		4.55	%		2.95	%		4.00	%		2.54	%		3.95	%		4.13	%		3.50	%
Expected return on assets		7.00			3.77			7.25			4.14			7.50			4.27			–			–			–
Compensation rate increase		–			2.27			–			2.24			–			2.22			–			–			–

(In millions)

U.S.	$	34.0
Int'l		14.9
U.S. postretirement health benefits		.5

	Pension Benefits				U.S. Postretirement Health Benefits
(In millions)	U.S.		Int'l

2018	$	83.0	$	20.4	$	.5
2019		58.9		21.8		.4
2020		59.0		21.3		.3
2021		60.6		23.0		.3
2022		60.5		25.9		.3
2023 - 2027		305.9		145.5		1.3

	Pension Benefits					U.S. Postretirement Health Benefits
(In millions)	U.S.		Int'l

Net actuarial loss	$	20.8	$	8.1		$	1.4
Prior service cost (credit)		.8		(.5	)		(3.3	)
Net transition obligation		–		.1			–

Net loss (gain) to be recognized	$	21.6	$	7.7		$	(1.9	)

				Fair Value Measurements Using
(In millions)		Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

2017
Cash		$	–	$	–	$	–	$	–
Pooled funds – liability-hedging portfolio (1)			275.6
Pooled funds – growth portfolio (1)			464.6

Total U.S. plan assets		$	740.2

2016
Cash		$	–	$	–	$	–	$	–
Pooled funds – liability-hedging portfolio (1)			269.0
Pooled funds – growth portfolio (1)			403.1

Total U.S. plan assets		$	672.1


(1)	Pooled funds that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to reconcile to total U.S. plan assets.

			Fair Value Measurements Using
(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

2017
Cash	$	1.7	$	1.7	$	–	$	–
Insurance contracts		35.7		–		–		35.7
Pooled funds – fixed income securities (1)		278.5
Pooled funds – equity securities (1)		277.3
Pooled funds – other investments (1)		90.5

Total international plan assets at fair value	$	683.7

2016
Cash	$	3.0	$	3.0	$	–	$	–
Insurance contracts		30.5		–		–		30.5
Pooled funds – fixed income securities (1)		284.2
Pooled funds – equity securities (1)		223.4
Pooled funds – other investments (1)		43.1

Total international plan assets at fair value	$	584.2

(1)	Pooled funds that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to reconcile to total international plan assets.

	Level 3 Assets
(In millions)	Insurance Contracts

Balance at December 31, 2016	$	30.5
Net realized and unrealized gain		.7
Purchases		2.8
Settlements		(1.4	)
Impact of changes in foreign currency exchange rates		3.1

Balance at December 30, 2017	$	35.7