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Benefit Plans
6 Months Ended
Jul. 03, 2016
Benefit Plans [Abstract]  
Benefit Plans
Note 9.Benefit Plans

The Company and its subsidiaries have pension plans covering the majority of eligible employees on a contributory or non-contributory basis.  The Company also provides postretirement health care and life insurance benefits for the majority of its U.S. retired employees. Disclosures for the U.S. plans have been combined with those outside of the U.S. as the international plans do not have significantly different assumptions, and together represent less than 25% of our total benefit obligation.

Components of Net Periodic Benefit Cost

 
Pension Benefits
 
 
Three Months Ended
  
Six Months Ended
 
 
July 3,
2016
  
June 28,
2015
  
July 3,
2016
  
June 28,
2015
 
 
  
(millions of dollars)
 
Service cost
 
$
2.4
  
$
2.7
  
$
4.7
  
$
5.3
 
Interest cost
  
3.4
   
3.9
   
6.8
   
7.8
 
Expected return on plan assets
  
(4.7
)
  
(5.0
)
  
(9.3
)
  
(10.1
)
Amortization:
                
Prior service cost
  
0.2
   
0.3
   
0.4
   
0.6
 
Recognized net actuarial loss
  
2.5
   
3.0
   
5.1
   
5.7
 
Net periodic benefit cost
 
$
3.8
  
$
4.9
  
$
7.7
  
$
9.3
 

  
Other Benefits
 
 
Three Months Ended
  
Six Months Ended
 
 
July 3,
2016
  
June 28,
2015
  
July 3,
2016
  
June 28,
2015
 
  
(millions of dollars)
 
Service cost
 
$
0.1
  
$
0.1
  
$
0.2
  
$
0.2
 
Interest cost
  
0.1
   
0.1
   
0.2
   
0.2
 
Amortization:
                
Prior service cost
  
(0.7
)
  
(0.7
)
  
(1.5
)
  
(1.5
)
Recognized net actuarial gain
  
(0.1
)
  
(0.1
)
  
(0.1
)
  
(0.1
)
Net periodic benefit cost
 
$
(0.6
)
 
$
(0.6
)
 
$
(1.2
)
 
$
(1.2
)

Amortization amounts of prior service costs and recognized net actuarial losses are recorded, net of tax, as increases to accumulated other comprehensive income.

Employer Contributions

The Company expects to contribute approximately $11.0 million to its pension plans and $0.6 million to its other postretirement benefit plans in 2016.  As of July 3, 2016, $1.5 million has been contributed to the pension plans and approximately $0.1 million has been contributed to the other postretirement benefit plans.