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Pension and Other Postretirement Benefits (Tables)
6 Months Ended
Jul. 04, 2015
Pension and Other Postretirement Benefits.  
Schedule of components of net periodic benefit cost (credit)

 

 

 

Pension Benefits

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

July 4, 2015

 

June 28, 2014

 

July 4, 2015

 

June 28, 2014

 

(In millions)

 

U.S.

 

Int’l

 

U.S.

 

Int’l

 

U.S.

 

Int’l

 

U.S.

 

Int’l

 

Service cost

 

$

.1

 

$

3.3

 

$

.1

 

$

3.2

 

$

.2

 

$

7.0

 

$

.2

 

$

6.7

 

Interest cost

 

11.0

 

4.3

 

11.4

 

6.2

 

21.7

 

8.8

 

22.4

 

12.2

 

Expected return on plan assets

 

(12.9

)

(5.3

)

(13.0

)

(6.5

)

(25.8

)

(10.8

)

(26.0

)

(13.0

)

Recognized net actuarial loss

 

5.1

 

2.3

 

4.2

 

1.3

 

10.2

 

4.8

 

8.1

 

2.6

 

Amortization of prior service cost (credit)

 

.3

 

 

.3

 

.1

 

.6

 

(.1

)

.6

 

.2

 

Recognized loss on curtailment(1)

 

 

 

 

.6

 

 

 

 

.6

 

Recognized loss on settlement(2)

 

 

3.8

 

 

 

 

3.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost

 

$

3.6

 

$

8.4

 

$

3.0

 

$

4.9

 

$

6.9

 

$

13.5

 

$

5.3

 

$

9.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Recognized loss on curtailment related to a pension plan in the Netherlands and was recorded in “Other expense, net” in the unaudited Condensed Consolidated Statements of Income.

(2)

Recognized loss on settlement related to pension plans in Germany and France as a result of the sale of a product line in our RBIS reportable segment.  The loss on settlement was recorded in “Other expense, net” in the unaudited Condensed Consolidated Statements of Income.

 

 

 

U.S. Postretirement Health Benefits

 

 

 

Three Months Ended

 

Six Months Ended

 

(In millions)

 

July 4, 2015

 

June 28, 2014

 

July 4, 2015

 

June 28, 2014

 

Interest cost

 

$

 

$

.1

 

$

.1

 

$

.1

 

Recognized net actuarial loss

 

.5

 

.7

 

1.1 

 

1.4 

 

Amortization of prior service credit

 

(.8)

 

(.8)

 

(1.6)

 

(1.6)

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit credit

 

$

(.3)

 

$

 

$

(.4)

 

$

(.1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of defined benefit plan contributions

 

 

 

Six Months Ended

 

(In millions)

 

July 4, 2015

 

June 28, 2014

 

U.S.

 

$

2.0 

 

$

2.4 

 

Int’l

 

9.3 

 

10.6 

 

U.S. postretirement health benefits

 

.6

 

.9