Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of entity's multiemployer benefit plan

Pension Fund		EIN Pension Plan Number			Pension Protection Act Zone Status — 2012			Financial Improvement Plan / Rehabilitation Plan Status Pending			2012 Contributions			2011 Contributions			Surcharge Imposed		Expiration Date of Collective Bargaining Agreement

IAM National Pension Fund, National Pension Plan			51-6031295-002			Green			No		$	0.3		$	0.3		No			August 10, 2013

Pension plans

Employee Benefit Plans

Schedule of the fair value of plan assets by asset class

The fair value of pension plan assets at December 31, 2012, by asset class, were as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Asset class:
Equity securities:
Global equities:
Capital equipment	$	20.2	$	20.2	$	—	$	—
Consumer goods		17.7		17.7		—		—
Energy		8.8		8.8		—		—
Finance		8.2		8.2		—		—
Materials		9.4		9.4		—		—
Services		10.6		10.6		—		—
Miscellaneous		37.3		37.3		—		—
Global equity common trust funds⁽¹⁾		366.1		103.6		233.5		29.0
Debt securities:
Fixed income common trust funds⁽²⁾		380.5		69.4		309.7		1.4
Non-U.S. Government securities		36.3		—		36.3		—
Alternative investments:
Commingled global fund allocations⁽³⁾		247.1		91.2		0.3		155.6
Other:
Short term investments⁽⁴⁾		61.5		61.5		—		—
Other⁽⁵⁾		10.1		2.4		0.3		7.4

Total	$	1,213.8	$	440.3	$	580.1	$	193.4

The fair value of pension plan assets at December 31, 2011, by asset class, were as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Asset class:
Equity securities:
Global equities:
Capital equipment	$	27.1	$	27.1	$	—	$	—
Consumer goods		16.5		16.5		—		—
Energy		12.3		12.3		—		—
Finance		10.1		10.1		—		—
Materials		17.2		17.2		—		—
Services		12.7		12.7		—		—
Miscellaneous		39.4		39.4		—		—
Global equity common trust funds⁽¹⁾		328.9		91.6		212.9		24.4
Debt securities:
Fixed income common trust funds⁽²⁾		331.9		64.0		266.5		1.4
Non-U.S. Government securities		36.0		—		36.0		—
Alternative investments:
Commingled global fund allocations⁽³⁾		231.9		96.7		5.3		129.9
Other:
Short term investments⁽⁴⁾		43.5		43.5		—		—
Other⁽⁵⁾		7.7		1.7		—		6.0

Total	$	1,115.2	$	432.8	$	520.7	$	161.7

⁽¹⁾: This class represents investments in actively managed common trust funds that invest primarily in equity securities, which may include common stocks, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on market values and yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
⁽²⁾: This class represents investments in actively managed common trust funds that invest in a variety of fixed income investments, which may include corporate bonds, both U.S. and non-U.S. municipal securities, interest rate swaps, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
⁽³⁾: This class represents investments in actively managed common trust funds with investments in both equity and debt securities. The investments may include common stock, corporate bonds, U.S. and non-U.S. municipal securities, interest rate swaps, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on market values and yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
⁽⁴⁾: Short term investments are valued at $1.00/unit, which approximates fair value. Amounts are generally invested in actively managed common trust funds or interest bearing accounts.
⁽⁵⁾: This category represents investments in insurance contracts, private equity and publicly traded real estate investment trusts. The insurance contracts and private equity investments are valued using unobservable inputs from the fund manager, primarily based on discounted cash flow models.

Schedule of changes in the fair value of Level 3 assets

	Global Equity Common Trust Funds			Commingled Global Fund Allocations			Fixed Income Common Trust Funds		Other			Total

Balance at December 31, 2010	$	—		$	122.4		$	1.3	$	8.2		$	131.9
Realized gains		—			0.7			—		0.6			1.3
Unrealized gains (losses) relating to instruments still held at period end		1.6			13.1			0.1		(0.9	)		13.9
Purchases		24.3			—			—		—			24.3
Sales		(1.5	)		(6.3	)		—		(1.9	)		(9.7	)

Balance at December 31, 2011		24.4			129.9			1.4		6.0			161.7
Realized gains		—			—			—		0.1			0.1
Unrealized gains relating to instruments still held at period end		1.8			12.7			—		2.0			16.5
Purchases		2.8			13.0			—		—			15.8
Sales		—			—			—		(0.7	)		(0.7	)

Balance at December 31, 2012	$	29.0		$	155.6		$	1.4	$	7.4		$	193.4

Schedule of estimated minimum benefit payments

Estimated minimum benefit payments:
(Domestic and foreign pension plans)

	Domestic Pension		Foreign Pension

	Benefits		Benefits
2013	$	80.5	$	12.2
2014		80.3		12.6
2015		145.0		13.4
2016		79.8		14.0
2017		80.3		14.9
Subsequent five years		406.7		77.6

Schedule of funded status of the pension plans and amounts recognized in consolidated balance sheets

	Domestic Pension Plans						Foreign Pension Plans

	2012			2011			2012			2011
Change in projected benefit obligation:
Projected benefit obligation — beginning of year	$	1,193.5		$	1,148.3		$	280.4		$	254.5
Service cost		9.8			9.9			2.5			2.5
Interest cost		54.4			57.4			14.3			14.0
Employee contributions		—			—			0.2			0.2
Actuarial losses		170.6			53.0			26.3			9.6
Curtailment gain		(4.0	)		(0.1	)		—			(0.1	)
Acquisitions		—			1.0			—			16.1
Benefits paid		(78.5	)		(76.0	)		(11.6	)		(13.7	)
Foreign exchange and other		—			—			10.9			(2.7	)

Projected benefit obligation — end of year	$	1,345.8		$	1,193.5		$	323.0		$	280.4

Change in plan assets:
Fair value of plan assets — beginning of year	$	868.2		$	867.5		$	247.0		$	227.8
Return on plan assets		107.1			71.8			19.2			12.0
Benefits paid		(78.5	)		(76.0	)		(9.3	)		(13.7	)
Contributions (employer and employee)		40.0			4.2			10.6			10.9
Acquisitions		—			0.7			—			11.8
Foreign exchange and other		—			—			9.5			(1.8	)

Fair value of plan assets — end of year	$	936.8		$	868.2		$	277.0		$	247.0

Funded status at year-end		(409.0	)		(325.3	)		(46.0	)		(33.4	)
Amounts recognized in the consolidated balance sheets consist of:
Other assets	$	—		$	—		$	24.9		$	23.7
Accrued expenses		(5.9	)		(6.4	)		(2.6	)		(2.3	)
Other long-term liabilities		(403.1	)		(318.9	)		(68.3	)		(54.8	)

Net amount recognized	$	(409.0	)	$	(325.3	)	$	(46.0	)	$	(33.4	)

Amounts recognized in accumulated other comprehensive loss (pre-tax) consist of:
Net actuarial loss	$	710.8		$	616.4		$	76.0		$	51.3
Net prior service costs (credits)		(0.1	)		(0.7	)		(0.1	)		0.1

Total accumulated comprehensive loss (pre-tax)	$	710.7		$	615.7		$	75.9		$	51.4

Schedule of accumulated benefit obligations in excess of the fair value of plan assets

	Domestic Pension Plans				Foreign Pension Plans

	2012		2011		2012		2011
Projected benefit obligation	$	1,345.8	$	1,193.5	$	119.3	$	112.3
Accumulated benefit obligation		1,331.5		1,176.7		116.4		111.0
Fair value of plan assets		936.8		868.2		48.5		55.3

Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive loss

Other changes in plan assets and benefit obligations recognized in other comprehensive income in 2012 were as follows:

	Domestic Plans			Foreign Plans

Current year actuarial loss	$	126.9		$	23.6
Amortization of actuarial loss		(28.5	)		(1.5	)
Amortization of prior service credits		0.6			—
Curtailment gain		(4.0	)		—
Foreign exchange and other		—			2.4

	$	95.0		$	24.5

Schedule of estimated amounts that will be amortized from accumulated other comprehensive loss into net periodic pension benefit expense in 2013

The estimated amounts that will be amortized from accumulated other comprehensive income into net periodic pension benefit expense in 2013 are as follows:

	Domestic Plans		Foreign Plans

Net actuarial loss	$	35.9	$	2.7
Net prior service credits		—		—

	$	35.9	$	2.7

Schedule of assumptions used in accounting for pension plans

	Year ended December 31,

	2012			2011			2010
Domestic Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate		4.69	%		5.22	%		5.80	%
Rate of increase in compensation levels		3.75	%		4.00	%		4.00	%
Expected long-term rate of return on assets		7.25	%		7.25	%		8.25	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate		3.74	%		4.69	%		5.22	%
Rate of increase in compensation levels		3.75	%		3.75	%		4.00	%
Foreign Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate		5.10	%		5.42	%		5.50	%
Rate of increase in compensation levels		3.92	%		4.15	%		4.10	%
Expected long-term rate of return on assets		6.56	%		7.00	%		7.04	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate		4.35	%		5.10	%		5.42	%
Rate of increase in compensation levels		3.91	%		3.92	%		4.15	%

Domestic Pension Plans

Employee Benefit Plans

Schedule of actual asset allocation percentages of each class of the entity's plan assets along with targeted asset investment allocation percentages

	Actual Allocations						Mid-point of Target Allocation Range

	2012			2011			2012
Global equities		12	%		16	%		20	%
Global equity common trust funds		28	%		27	%		30	%
Fixed income common trust funds		29	%		27	%		20	%
Commingled global fund allocations		26	%		25	%		30	%
Short term investments⁽¹⁾		4	%		4	%		0	%
Other⁽²⁾		1	%		1	%		0	%

Total		100	%		100	%		100	%

⁽¹⁾: Short term investments are generally invested in actively managed common trust funds or interest-bearing accounts.
⁽²⁾: Assets included in this class at December 31, 2012 and 2011 comprised primarily insurance contracts, private equity and publicly traded real estate trusts.

Schedule of net periodic benefit expense

	Year ended December 31,

	2012			2011			2010
Service cost	$	9.8		$	9.9		$	9.3
Interest cost		54.4			57.4			61.1
Expected return on plan assets		(63.4	)		(65.6	)		(68.4	)
Amortization of unrecognized losses⁽¹⁾		28.5			23.2			36.4
Amortization of unrecognized prior service credits		(0.6	)		(0.9	)		(0.9	)
Curtailment loss		0.1			—			—

Total net periodic pension benefit expense		28.8			24.0			37.5
Less: Net periodic pension benefit expense of discontinued operations		—			—			—

Net periodic pension benefit expense of continuing operations	$	28.8		$	24.0		$	37.5

⁽¹⁾: An increase in the number of inactive participants in one of our domestic pension plans resulted in almost all of the plan participants being inactive. Accordingly, in 2011 we began amortizing the unrecognized gains/losses over the average remaining life expectancy of the inactive participants as opposed to the average remaining service period of the active participants. This change resulted in a reduction to pension expense of approximately $20.0 for the year ended December 31, 2011.

Foreign Pension Plans

Employee Benefit Plans

Schedule of actual asset allocation percentages of each class of the entity's plan assets along with targeted asset investment allocation percentages

	Actual Allocations						Mid-point of Target Allocation Range

	2012			2011			2012
Global equity common trust funds		38	%		38	%		43	%
Fixed income common trust funds		40	%		40	%		30	%
Non-U.S. Government securities		13	%		15	%		25	%
Short term investments⁽¹⁾		8	%		5	%		1	%
Other⁽²⁾		1	%		2	%		1	%

Total		100	%		100	%		100	%

⁽¹⁾: Short term investments are generally invested in actively managed common trust funds or interest-bearing accounts.
⁽²⁾: Assets included in this class comprised primarily insurance contracts.

Schedule of net periodic benefit expense

	Year ended December 31,

	2012			2011			2010
Service cost	$	2.8		$	2.8		$	2.3
Interest cost		14.6			14.2			14.1
Expected return on plan assets		(16.6	)		(16.2	)		(14.3	)
Amortization of unrecognized losses		1.5			0.9			1.7
Curtailment gain		—			(0.1	)		—

Total net periodic pension benefit expense		2.3			1.6			3.8
Less: Net periodic pension benefit expense of discontinued operations		(1.2	)		(0.7	)		(0.3	)

Net periodic pension benefit expense of continuing operations	$	1.1		$	0.9		$	3.5

Postretirement Plans

Employee Benefit Plans

Schedule of estimated future benefit payments and expected federal subsidies

	Postretirement Payments, net of Subsidies		Postretirement Subsidies

2013	$	14.8	$	1.5
2014		14.2		1.5
2015		13.6		1.5
2016		12.9		1.5
2017		12.2		1.4
Subsequent five years		51.2		6.1

Schedule of funded status of the pension plans and amounts recognized in consolidated balance sheets

	Postretirement Benefits

	2012			2011
Change in accumulated postretirement benefit obligation:
Accumulated postretirement benefit obligation — beginning of year	$	148.7		$	152.5
Service cost		0.5			0.4
Interest cost		6.1			7.0
Actuarial (gain) loss		7.2			(3.9	)
Benefits paid		(13.8	)		(14.3	)
Acquisitions		—			7.0

Accumulated postretirement benefit obligation — end of year	$	148.7		$	148.7

Funded status at year-end	$	(148.7	)	$	(148.7	)

Amounts recognized in the balance sheet consist of:
Accrued expenses	$	(14.6	)	$	(15.7	)
Other long-term liabilities		(134.1	)		(133.0	)

Net amount recognized	$	(148.7	)	$	(148.7	)

Amounts recognized in accumulated other comprehensive loss (pre-tax) consist of:
Net actuarial loss	$	48.6		$	44.9
Net prior service credit		(1.7	)		(3.1	)

Total accumulated comprehensive loss (pre-tax)	$	46.9		$	41.8

Schedule of net periodic benefit expense

	Year ended December 31,

	2012			2011			2010
Service cost	$	0.5		$	0.4		$	0.3
Interest cost		6.1			7.0			8.0
Amortization of unrecognized loss		3.6			4.5			4.2
Amortization of unrecognized prior service credits		(1.4	)		(1.4	)		(1.3	)

Net periodic postretirement benefit expense	$	8.8		$	10.5		$	11.2

Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive loss

Other changes in benefit obligations recognized in other comprehensive income in 2012 were as follows:


Current year actuarial loss	$	7.2
Amortization of actuarial loss		(3.6	)
Amortization of prior service credits		1.4

	$	5.0

Schedule of actuarial assumptions used in accounting for plans

	Year ended December 31,

	2012			2011			2010
Assumed health care cost trend rates:
Heath care cost trend rate for next year		7.13	%		7.52	%		7.86	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)		5.00	%		5.00	%		5.00	%
Year that the rate reaches the ultimate trend rate		2019			2019			2019
Discount rate used in determining net periodic postretirement benefit expense		4.36	%		4.85	%		5.46	%
Discount rate used in determining net year-end postretirement benefit obligation		3.37	%		4.36	%		4.85	%

Schedule of effects of a percentage point change in assumed health care cost trend rates on postretirement expense

A percentage point change in assumed health care cost trend rates would have had the following effects on 2012 postretirement expense

	1% Increase		1% Decrease

Effect on total of service and interest costs	$	0.4	$	(0.3	)
Effect on postretirement benefit obligation	$	9.2	$	(8.2	)