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PENSION AND POST-RETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Reconciliation of Projected Benefit Obligations, Plan Assets, Funded Status and Amounts Recognized in the Consolidated Financial Statements
The following table provides an aggregate reconciliation of the projected benefit obligations, plan assets, funded status and amounts recognized in the Company’s Consolidated Financial Statements related to the Company's significant pension and other post-retirement benefit plans:
 
Pension Plans
 
Other Post-Retirement Benefit Plans
 
December 31,
 
2017
 
2016
 
2017
 
2016
Change in Benefit Obligation:
 
 
 
 
 
 
 
Benefit obligation - beginning of year
$
(640.5
)
 
$
(649.4
)
 
$
(13.4
)
 
$
(13.0
)
Service cost
(3.0
)
 
(0.5
)
 
—

 
—

Interest cost
(19.6
)
 
(20.7
)
 
(0.4
)
 
(0.4
)
Actuarial (loss) gain
(22.3
)
 
(21.6
)
 
(1.1
)
 
(1.0
)
Curtailment gain
3.3

 
—

 
—

 
—

Other pension settlements
3.6

 
—

 
—

 
—

Benefits paid
43.2

 
42.8

 
0.9

 
1.0

Other (a)
(18.4
)
 
—

 
—

 
—

Plan participant contributions
(0.7
)
 
—

 
—

 
—

Foreign currency translation adjustments
(7.0
)
 
8.9

 
—

 
—

Benefit obligation - end of year
$
(661.4
)
 
$
(640.5
)
 
$
(14.0
)
 
$
(13.4
)
Change in Plan Assets:
 
 
 
 
 
 
 
Fair value of plan assets - beginning of year
$
464.0

 
$
473.9

 
$
—

 
$
—

Actual return on plan assets
53.5

 
35.8

 
—

 
—

Employer contributions
7.6

 
7.3

 
0.9

 
1.0

Other pension settlements
(3.6
)
 
—

 
—

 
—

Benefits paid
(43.2
)
 
(42.8
)
 
(0.9
)
 
(1.0
)
Other (a)
11.6

 
 
 
 
 
 
Plan participant contributions
0.7

 
 
 
 
 
 
Foreign currency translation adjustments
6.6

 
(10.2
)
 
—

 
—

Fair value of plan assets - end of year
$
497.2

 
$
464.0

 
$
—

 
$
—

Unfunded status of plans at December 31,
$
(164.2
)
 
$
(176.5
)
 
$
(14.0
)
 
$
(13.4
)
(a) 
Other includes the addition of a foreign non-qualified defined benefit plan assumed in connection with the Elizabeth Arden Acquisition.
Amounts Recognized in the Consolidated Balance Sheets
With respect to the Company's pension plans and other post-retirement benefit plans, amounts recognized in the Company’s Consolidated Balance Sheets at December 31, 2017 and 2016 consisted of the following:
 
Pension Plans
 
Other Post-Retirement Benefit Plans
 
December 31,
 
2017
 
2016
 
2017
 
2016
Other long-term assets
$
1.5

 
$
—

 
$
—

 
$
—

 
 
 
 
 
 
 
 
Accrued expenses and other
(6.2
)
 
(6.1
)
 
(0.7
)
 
(0.8
)
Pension and other post-retirement benefit liabilities
(159.5
)
 
(170.4
)
 
(13.3
)
 
(12.6
)
Total liability
$
(164.2
)
 
$
(176.5
)
 
$
(14.0
)
 
$
(13.4
)
 
 
 
 
 
 
 
 
Accumulated other comprehensive loss, gross
$
253.2

 
$
266.6

 
$
4.5

 
$
3.6

Income tax (benefit) expense
(43.3
)
 
(44.3
)
 
(0.9
)
 
(0.4
)
Portion allocated to Revlon Holdings
(0.9
)
 
(0.9
)
 
(0.2
)
 
(0.2
)
Accumulated other comprehensive loss, net
$
209.0

 
$
221.4

 
$
3.4

 
$
3.0
Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value of Plan Assets
As of December 31, 2017 and 2016, the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company's pension plans are as follows:
 
December 31,
 
2017
 
2016
Projected benefit obligation
$
661.4

 
$
640.5

Accumulated benefit obligation
661.1

 
640.2

Fair value of plan assets
497.2

 
464.0
Components of Net Periodic Benefit (Income) Costs
The components of net periodic benefit costs (income) for the Company's pension and the other post-retirement benefit plans are as follows:
 


Pension Plans
 
Other
Post-Retirement
Benefit Plans
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Net periodic benefit costs (income):
 
 
 
Service cost
$
3.0

 
$
0.5

 
$
0.7

 
$
—

 
$
—

 
$
—

Interest cost
19.6

 
20.7

 
28.6

 
0.4

 
0.4

 
0.5

Expected return on plan assets
(28.6
)
 
(31.0
)
 
(40.3
)
 
—

 
—

 
—

Amortization of actuarial loss
9.5

 
8.8

 
8.4

 
0.3

 
0.2

 
0.1

Lump sum settlement charge
—

 
—

 
20.7

 
—

 
—

 
—

Curtailment gain(a)
(2.6
)
 
—

 
—

 
—

 
—

 
—

Other pension settlements charge
—

 
—

 
0.3

 
—

 
—

 
—

Total net periodic benefit costs (income) prior to allocation
$
0.9

 
$
(1.0
)
 
$
18.4

 
$
0.7

 
$
0.6

 
$
0.6

Portion allocated to Revlon Holdings
(0.1
)
 
(0.1
)
 
(0.1
)
 
—

 
(0.1
)
 
(0.1
)
Total net periodic benefit costs (income)
$
0.8

 
$
(1.1
)
 
$
18.3

 
$
0.7

 
$
0.5

 
$
0.5

(a) 
As a result of the Elizabeth Arden Acquisition, the Company recognized $2.6 million in curtailment gains related to a foreign non-qualified defined benefit plan of Elizabeth Arden.
Classification of Net Periodic Benefit (Income) Costs
Net periodic benefit costs (income) are reflected in the Company's Consolidated Financial Statements as follows:
 
Year Ended December 31,
 
2017
 
2016
Net periodic benefit (income) costs:
 
 
 
Cost of sales
$
(1.0
)
 
$
(2.5
)
Selling, general and administrative expense
2.5

 
1.9

Total net periodic benefit costs (income)
$
1.5

 
$
(0.6
)
Summary of Unrecognized Components of Net Periodic Benefit Cost
Amounts recognized in accumulated other comprehensive loss at December 31, 2017 with respect to the Company’s pension plans and other post-retirement plans, which have not yet been recognized as a component of net periodic benefit cost, were as follows:
 
Pension Benefits
 
Post-Retirement Benefits
 
Total
Net actuarial loss
$
253.2

 
$
4.5

 
$
257.7

Accumulated Other Comprehensive Loss, Gross
253.2

 
4.5

 
257.7

Income tax benefit
(43.3
)
 
(0.9
)
 
(44.2
)
Portion allocated to Revlon Holdings
(0.9
)
 
(0.2
)
 
(1.1
)
Accumulated Other Comprehensive Loss, Net
$
209.0

 
$
3.4

 
$
212.4
Assumptions Used
The following weighted average assumptions were used to determine the Company’s projected benefit obligation of the Company’s U.S. and International pension plans at the end of the respective years:
 
U.S. Plans
 
International Plans
 
2017
 
2016
 
2017
 
2016
Discount rate
3.47
%
 
3.92
%
 
2.19
%
 
2.66
%
Rate of future compensation increases
3.50
%
 
3.50
%
 
1.75
%
 
2.20
%
The target ranges per asset class in effect for 2017 were as follows:
 
Target Ranges
 
U.S. Plans
 
International Plans
Asset Class:
 
 
 
Common and preferred stock
0% - 10%
 
—
Mutual funds
20% - 30%
 
—
Fixed income securities
10% - 20%
 
—
Common and collective funds
30% - 50%
 
100%
Hedge funds
5% - 15%
 
—
Cash and other investments
0% - 10%
 
—
The following weighted average assumptions were used to determine the Company’s net periodic benefit (income) cost of the Company’s U.S. and International pension plans during the respective years:
 
U.S. Plans
 
International Plans
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Discount rate
3.92
%
 
4.15
%
 
3.89
%
 
2.24
%
 
3.68
%
 
3.74
%
Expected long-term return on plan assets
6.50
%
 
7.00
%
 
7.50
%
 
4.81
%
 
6.00
%
 
6.00
%
Rate of future compensation increases
3.50
%
 
3.50
%
 
3.50
%
 
2.01
%
 
2.22
%
 
2.33
%
Fair Value of Plan Assets
The following table presents information on the fair value of the Company's U.S. and International pension plan assets at December 31, 2017 and 2016:
 
U.S. Plans
 
International Plans
 
2017
 
2016
 
2017
 
2016
Fair value of plan assets
$
413.6

 
$
400.5

 
$
83.6

 
$
63.5
Fair Values by Asset Categories
The fair values of the Company's U.S. and International pension plan assets at December 31, 2017 by asset category were as follows:
 
Total
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Observable Inputs (Level 2)
 
Significant Unobservable Inputs
 (Level 3)
Common and Preferred Stock:
 
 
 
 
 
 
 
U.S. small/mid cap equity
$
18.3

 
$
18.3

 
$
—

 
$
—

Mutual Funds(a):
 
 
 
 
 
 
 
Corporate bonds
17.7

 
17.7

 
—

 
—

Government bonds
8.4

 
8.4

 
—

 
—

U.S. large cap equity
0.1

 
0.1

 
—

 
—

International equities
3.8

 
3.8

 
—

 
—

Emerging markets international equity
7.4

 
7.4

 
—

 
—

Other
4.5

 
4.5

 
—

 
—

Fixed Income Securities:
 
 
 
 
 
 
 
Corporate bonds
46.7

 
—

 
46.7

 
—

Government bonds
15.4

 
—

 
15.4

 
—

Common and Collective Funds(a):
 
 
 
 
 
 
 
Corporate bonds
51.5

 
42.3

 
9.2

 
—

Government bonds
55.3

 
44.1

 
11.2

 
—

U.S. large cap equity
78.6

 
68.7

 
9.9

 
—

U.S. small/mid cap equity
16.1

 
16.1

 
—

 
—

International equities
77.9

 
42.8

 
35.1

 
—

Emerging markets international equity
18.9

 
12.8

 
6.1

 
—

Cash and cash equivalents
13.0

 
13.0

 
—

 
—

Other
6.6

 
1.8

 
4.8

 
—

Hedge Funds(a):
 
 
 
 
 
 
 
Corporate bonds
10.3

 
—

 
10.3

 
—

Government bonds
0.7

 
—

 
0.7

 
—

U.S. large cap equity
1.2

 
—

 
1.2

 
—

Cash and cash equivalents
3.3

 
3.3

 
—

 
—

Other (b)
33.3

 
—

 
33.3

 
—

Group Annuity Contract
—

 
—

 
—

 
—

Cash and cash equivalents
8.2

 
8.2

 
—

 
—

Fair value of plan assets at December 31, 2017
$
497.2

 
$
313.3

 
$
183.9

 
$
—

(a) 
The investments in mutual funds, common and collective funds and hedge funds are disclosed above within the respective underlying investments’ class (i.e., various equities, corporate bonds, government bonds and other investment classes), while the fair value hierarchy levels of the investments are based on the Company’s direct ownership unit of account.

(b) 
Comprised of investments in equities, fixed income instruments, currencies, derivatives and/or commodities.




The fair values of the Company's U.S. and International pension plan assets at December 31, 2016 by asset category were as follows:
 
Total
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Observable Inputs (Level 2)
 
Significant Unobservable Inputs
 (Level 3)
Common and Preferred Stock:
 
 
 
 
 
 
 
U.S. small/mid cap equity
$
15.5

 
$
15.5

 
$
—

 
$
—

Mutual Funds(a):
 
 
 
 
 
 
 
Corporate bonds
14.3

 
14.3

 
—

 
—

Government bonds
11.9

 
11.9

 
—

 
—

U.S. large cap equity
0.1

 
0.1

 
—

 
—

International equities
3.9

 
3.9

 
—

 
—

Emerging markets international equity
6.3

 
6.3

 
—

 
—

Other
3.0

 
3.0

 
—

 
—

Fixed Income Securities:
 
 
 
 
 
 
 
Corporate bonds
41.0

 
—

 
41.0

 
—

Government bonds
13.9

 
—

 
13.9

 
—

Common and Collective Funds(a):
 
 
 
 
 
 
 
Corporate bonds
56.0

 
54.3

 
1.7

 
—

Government bonds
68.4

 
57.0

 
11.4

 
—

U.S. large cap equity
68.8

 
67.5

 
1.3

 
—

U.S. small/mid cap equity
20.0

 
20.0

 
—

 
—

International equities
67.0

 
34.9

 
32.1

 
—

Emerging markets international equity
15.3

 
9.4

 
5.9

 
—

Cash and cash equivalents
4.8

 
4.8

 
—

 
—

Other
(7.2
)
 
(10.3
)
 
3.1

 
—

Hedge Funds(a):
 
 
 
 
 
 
 
Corporate bonds
4.5

 
—

 
4.5

 
—

Government bonds
6.5

 
—

 
6.5

 
—

U.S. large cap equity
2.1

 
—

 
2.1

 
—

Cash and cash equivalents
2.4

 
—

 
2.4

 
—

Other(b)
31.9

 
—

 
31.9

 
—

Group Annuity Contract
3.0

 
—

 
3.0

 
—

Cash and cash equivalents
10.6

 
10.6

 
—

 
—

Fair value of plan assets at December 31, 2016
$
464.0

 
$
303.2

 
$
160.8

 
$
—

(a) 
The investments in mutual funds, common and collective funds and hedge funds are disclosed above within the respective underlying investments’ class (i.e., various equities, corporate bonds, government bonds and other investment classes), while the fair value hierarchy levels of the investments are based on the Company’s direct ownership unit of account.
(b) 
Comprised of investments in equities, fixed income instruments, currencies, derivatives and/or commodities.
Expected Future Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid out of the Company’s pension and other post-retirement benefit plans:
 
Total Pension Benefits
 
Total Other Benefits
2018
$
46.9

 
$
1.2

2019
43.6

 
1.2

2020
45.3

 
1.2

2021
42.7

 
1.2

2022
43.0

 
1.2

Years 2023 to 2027
202.6

 
5.1