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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Benefit Plans [Abstract]  
Obligations and funded status of pension and other postretirement benefit plans
The following table set forth Company's pension obligation and funded status at December 31:

  
Pension Benefits
  
Post-Retirement Benefits
 
(millions of dollars)
 
2018
  
2017
  
2018
  
2017
 
Change in benefit obligations:
            
Beginning projected benefit obligation
 
$
469.5
  
$
427.9
  
$
6.9
  
$
9.3
 
Service cost
  
8.1
   
7.9
   
0.2
   
0.3
 
Interest cost
  
13.0
   
12.6
   
0.2
   
0.3
 
Actuarial (gain)/loss
  
(40.5
)
  
31.5
   
(1.5
)
  
(3.0
)
Benefits paid
  
(12.2
)
  
(20.4
)
  
(0.1
)
  
(0.1
)
Settlements
  
(17.1
)
  
—
   
—
   
—
 
Foreign exchange impact
  
(5.1
)
  
9.6
   
—
   
0.1
 
Other
  
0.6
   
0.4
   
—
   
—
 
Ending projected benefit obligation
  
416.3
   
469.5
   
5.7
   
6.9
 
                 
Change in plan assets:
                
Beginning fair value
  
320.2
   
289.3
   
—
   
—
 
Actual return on plan assets
  
(13.6
)
  
33.8
   
—
   
—
 
Employer contributions
  
24.2
   
10.7
   
0.1
   
0.1
 
Plan participants' contributions
  
0.4
   
0.4
   
—
   
—
 
Benefits paid
  
(12.2
)
  
(20.4
)
  
(0.1
)
  
(0.1
)
Settlements
  
(18.2
)
  
(0.8
)
  
—
   
—
 
Foreign exchange impact
  
(4.1
)
  
7.2
   
—
   
—
 
Ending fair value
  
296.7
   
320.2
   
—
   
—
 
                 
Funded status of the plan
 
$
(119.6
)
 
$
(149.3
)
 
$
(5.7
)
 
$
(6.9
)
Amounts recognized in the consolidated balance sheet
Amounts recognized in the consolidated balance sheet consist of:

 
Pension Benefits
 
Post-Retirement Benefits
 
(millions of dollars)
2018
 
2017
 
2018
 
2017
 
Current liability
 
$
(0.8
)
 
$
(0.8
)
 
$
(0.3
)
 
$
(0.5
)
Non-current liability
  
(118.8
)
  
(148.5
)
  
(5.4
)
  
(6.4
)
Recognized liability
 
$
(119.6
)
 
$
(149.3
)
 
$
(5.7
)
 
$
(6.9
)
Amounts recognized in accumulated other comprehensive income
Amounts recognized in accumulated other comprehensive income, net of related tax effects, consist of:

 
Pension Benefits
 
Post-Retirement Benefits
 
(millions of dollars)
2018
 
2017
 
2018
 
2017
 
Net actuarial (gain) loss
 
$
73.5
  
$
91.4
  
$
(4.1
)
 
$
(4.1
)
Prior service cost
  
0.1
   
(0.1
)
  
—
   
(0.7
)
Amount recognized end of year
 
$
73.6
  
$
91.3
  
$
(4.1
)
 
$
(4.8
)
Change in plan assets and benefit obligations recognized in other comprehensive income
Changes in the Plan assets and benefit obligations recognized in other comprehensive income:

  
Pension Benefits
  
Post-Retirement Benefits
 
(millions of dollars)
 
2018
  
2017
  
2018
  
2017
 
Current year actuarial gain (loss)
 
$
6.8
  
$
(15.8
)
 
$
1.0
  
$
2.6
 
Amortization of actuarial (gain) loss
  
10.4
   
7.2
   
(0.6
)
  
(0.2
)
Amortization of prior service credit (gain) loss
  
—
   
—
   
(0.7
)
  
(2.3
)
Total recognized in other comprehensive income
 
$
17.2
  
$
(8.6
)
 
$
(0.3
)
 
$
0.1
 
Net Periodic Benefit Cost
The components of net periodic benefit costs are as follows:

  
Pension Benefits
  
Post-Retirement Benefits
 
(millions of dollars)
 
2018
  
2017
  
2016
  
2018
  
2017
  
2016
 
Service cost
 
$
8.1
  
$
7.9
  
$
8.2
  
$
0.2
  
$
0.3
  
$
0.3
 
Interest cost
  
13.0
   
12.6
   
13.0
   
0.2
   
0.3
   
0.3
 
Expected return on plan assets
  
(20.2
)
  
(18.7
)
  
(18.6
)
  
—
   
—
   
—
 
Amortization of prior service cost
  
—
   
—
   
0.6
   
(0.9
)
  
(3.1
)
  
(3.1
)
Recognized net actuarial (gain) loss
  
10.7
   
10.8
   
10.7
   
(0.8
)
  
(0.3
)
  
(0.2
)
Settlement/curtailment loss
  
4.4
   
—
   
0.3
   
—
   
—
   
—
 
Net periodic benefit cost
 
$
16.0
  
$
12.6
  
$
14.2
  
$
(1.3
)
 
$
(2.8
)
 
$
(2.7
)
Estimated amortization of amounts in other accumulated comprehensive income to be recognized in next fiscal year
The 2019 estimated amortization of amounts in other accumulated comprehensive income are as follows:

(millions of dollars)
 
Pension Benefits
  
Post-Retirement Benefits
 
Amortization of net (gain) loss
 
$
9.6
  
$
(0.8
)
Total cost to be recognized
 
$
9.6
  
$
(0.8
)
Weighted average assumptions used to determine net periodic benefit cost and benefit obligation
The weighted average assumptions used to determine net periodic benefit cost in the accounting for the pension benefit plans and other benefit plans for the years ended December 31,2018, 2017 and 2016 are as follows:

 
Year Ended December 31,
 
2018
 
2017
 
2016
Discount rate
 
3.16%
  
3.56%
  
3.88%
Expected return on plan assets
 
6.40%
  
6.61%
  
6.89%
Rate of compensation increase
 
3.01%
  
3.01%
  
3.03%

The weighted average assumptions used to determine benefit obligations for the pension benefit plans and other benefit plans at December 31,2018, 2017 and 2016 are as follows:

 
Year Ended December 31,
 
2018
 
2017
 
2016
Discount rate
 
3.75%
  
3.16%
  
3.60%
Rate of compensation increase
 
3.01%
  
3.01%
  
2.96%
Weighted average asset allocation percentages
The Company's pension plan weighted average asset allocation percentages at December 31, 2018 and 2017 by asset category are as follows:

  
December 31,
  
2018
 
2017
Asset Category
      
Equity securities
  
54.9%
  
56.0%
Fixed income securities
  
38.3%
  
36.2%
Real estate
  
0.8%
  
0.8%
Other
  
6.0%
  
7.0%
Total
  
100.0%
  
100.0%
Fair value of plan assets by asset category
The Company's pension plan fair values at December 31, 2018 and 2017 by asset category are as follows:

  
December 31,
 
(millions of dollars)
 
2018
  
2017
 
Asset Category
      
Equity securities
 
$
162.8
  
$
179.2
 
Fixed income securities
  
113.6
   
116.0
 
Real estate
  
2.3
   
2.4
 
Other
  
18.0
   
22.6
 
Total
 
$
296.7
  
$
320.2
 
Fair value of plan assets by geographic location
The following table presents domestic and foreign pension plan assets information at December 31, 2018, 2017 and 2016 (the measurement date of pension plan assets):

 
U.S. Plans
 
International Plans
 
(millions of dollars)
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
Fair value of plan assets
 
$
227.1
  
$
241.9
  
$
221.9
  
$
69.6
  
$
78.3
  
$
67.4
 
Defined benefit pension plan assets measured at fair value
The following table summarizes our defined benefit pension plan assets measured at fair value as of December 31, 2018:


 
Quoted Prices in
Active Markets for
Identical Assets
  
Significant
Other Observable
Inputs
  
Significant
Unobservable
Inputs
    
(millions of dollars)
 
(Level 1)
  
(Level 2)
  
(Level 3)
  
Total
 
Pension Assets Fair Value as of December 31, 2018
            
Equity securities
            
US equities
 
$
135.4
  
$
—
  
$
—
  
$
135.4
 
Non-US equities
  
27.4
   
—
   
—
   
27.4
 
                 
Fixed income securities
                
Corporate debt instruments
  
80.9
   
32.7
   
—
   
113.6
 
                 
Real estate and other
                
Real estate
  
—
   
—
   
2.3
   
2.3
 
Other
  
0.3
   
—
   
17.7
   
18.0
 
                 
Total assets
 
$
244.0
  
$
32.7
  
$
20.0
  
$
296.7
 

The following table summarizes our defined benefit pension plan assets measured at fair value as of December 31, 2017:


 
Quoted Prices in
Active Markets for
Identical Assets
  
Significant
Other Observable
Inputs
  
Significant
Unobservable
Inputs
    
(millions of dollars)
 
(Level 1)
  
(Level 2)
  
(Level 3)
  
Total
 
Pension Assets Fair Value as of December 31, 2017
            
Equity securities
            
US equities
 
$
156.1
  
$
—
  
$
—
  
$
156.1
 
Non-US equities
  
23.1
   
—
   
—
   
23.1
 
                 
Fixed income securities
                
Corporate debt instruments
  
82.0
   
34.0
   
—
   
116.0
 
                 
Real estate and other
                
Real estate
  
—
   
—
   
2.4
   
2.4
 
Other
  
0.2
   
—
   
22.4
   
22.6
 
                 
Total assets
 
$
261.4
  
$
34.0
  
$
24.8
  
$
320.2
 
Reconciliation of changes in fair value measurement of plan assets using significant unobservable inputs (Level 3)
The following is a reconciliation of changes in fair value measurement of plan assets using significant unobservable inputs (Level 3):

(millions of dollars)
   
Beginning balance at December 31, 2016
 
$
20.3
 
Purchases, sales, settlements
  
—
 
Actual return on plan assets still held at reporting date
  
3.9
 
Foreign exchange impact
  
0.5
 
Ending balance at December 31, 2017
 
$
24.7
 
Purchases, sales, settlements
  
—
 
Actual return on plan assets still held at reporting date
  
(4.4
)
Foreign exchange impact
  
(0.3
)
Ending balance at December 31, 2018
 
$
$ 20.0
 
Estimated future benefit payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:

(millions of dollars)
 
Pension Benefits
  
Other Benefits
 
2019
 
$
21.6
  
$
0.4
 
2020
 
$
22.2
  
$
0.4
 
2021
 
$
22.9
  
$
0.4
 
2022
 
$
24.4
  
$
0.5
 
2023
 
$
24.7
  
$
0.5
 
2024-2028
 
$
128.0
  
$
2.5