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EMPLOYEE BENEFIT PLANS (Tables)
3 Months Ended
Mar. 28, 2015
Domestic Pension Plans  
Employee Benefit Plans  
Schedule of net periodic benefit (income) expense

 

Domestic Pension Plans

 

 

 

Three months ended

 

 

 

March 28,

 

March 29,

 

 

 

2015

 

2014

 

Service cost

 

$

0.9

 

$

1.8

 

Interest cost

 

4.3

 

6.7

 

Expected return on plan assets

 

(4.9

)

(5.5

)

Settlement charges, net(1)

 

 

0.5

 

Recognized net actuarial loss(2)

 

 

14.8

 

Total net periodic pension benefit expense

 

$

0.3

 

$

18.3

 

 

 

(1)

Consisted of the settlement charge of $4.6 associated with the lump-sum payment action that took place during the first quarter of 2014 (see above), net of a $4.1 increase to the estimated settlement gain that was recorded during the fourth quarter of 2013 in connection with the transfer of the pension obligation for the retirees of the U.S. Plan to Massachusetts Mutual Life Insurance Company.

 

(2)

Represented the actuarial loss resulting from the remeasurement of the assets and obligations of the U.S. Plan during the first quarter of 2014, which was required in connection with the lump-sum payment action noted above.

Foreign Pension Plans  
Employee Benefit Plans  
Schedule of net periodic benefit (income) expense

Foreign Pension Plans

 

 

 

Three months ended

 

 

 

March 28,

 

March 29,

 

 

 

2015

 

2014

 

Service cost

 

$

0.4

 

$

0.7

 

Interest cost

 

2.0

 

3.5

 

Expected return on plan assets

 

(2.4

)

(4.3

)

Total net periodic pension benefit income

 

 

(0.1

)

Less: Net periodic pension benefit income of discontinued operations

 

(0.1

)

(0.2

)

Net periodic pension benefit expense of continuing operations

 

$

0.1

 

$

0.1

 

 

Postretirement Plans  
Employee Benefit Plans  
Schedule of net periodic benefit (income) expense

Postretirement Plans

 

 

 

Three months ended

 

 

 

March 28,

 

March 29,

 

 

 

2015

 

2014

 

Service cost

 

$

 

$

0.1

 

Interest cost

 

1.1

 

1.3

 

Amortization of unrecognized prior service credits

 

(0.2

)

 

Net periodic postretirement benefit expense

 

$

0.9

 

$

1.4