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Retirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2011
Compensation and Retirement Disclosure [Abstract]  
Expense for defined contribution and defined benefit pension plans and other post employment defined benefit plans [Text Block]
 
Year Ended December 31,
(millions of dollars)
2011
 
2010
 
2009
Defined contribution expense
$
18.9

 
$
19.2

 
$
16.6

Defined benefit pension expense
17.5

 
19.8

 
33.1

Other post employment benefit expense
13.5

 
17.5

 
(48.4
)
Total
$
49.9

 
$
56.5

 
$
1.3

Reconciliation of the plans' benefit obligations, plan assets, funded status and recognition [Text Block]
 
Pension benefits
 
Other post
 
Year Ended December 31,
 
employment benefits
 
2011
 
2010
 
Year Ended December 31,
(millions of dollars)
US
 
Non-US
 
US
 
Non-US
 
2011
 
2010
Change in projected benefit obligation:
 

 
 

 
 

 
 

 
 

 
 

Projected benefit obligation, January 1
$
326.2

 
$
326.0

 
$
316.5

 
$
326.5

 
$
261.9

 
$
278.5

Service cost

 
9.1

 

 
7.4

 
0.7

 
0.8

Interest cost
16.1

 
17.8

 
17.5

 
17.6

 
11.8

 
14.5

Plan participants’ contributions

 
0.3

 

 
0.5

 

 

Plan amendments

 
(0.5
)
 

 
1.2

 
3.9

 

Actuarial (gain) loss
21.8

 
11.9

 
19.2

 
(0.4
)
 
(6.8
)
 
(7.2
)
Currency translation

 
(5.8
)
 

 
(12.2
)
 

 

Other

 
0.9

 
1.1

 
0.1

 

 

Benefits paid
(26.7
)
 
(15.4
)
 
(28.1
)
 
(14.7
)
 
(20.5
)
 
(24.7
)
Projected benefit obligation, December 31
$
337.4

 
$
344.3

 
$
326.2

 
$
326.0

 
$
251.0

 
$
261.9

Change in plan assets:
 

 
 

 
 

 
 

 
 

 
 

Fair value of plan assets, January 1
$
287.2

 
$
154.6

 
$
269.1

 
$
144.0

 
 

 
 

Actual return on plan assets
8.9

 
5.0

 
35.6

 
14.2

 
 

 
 

Employer contribution
21.0

 
16.0

 
10.6

 
14.5

 
 

 
 

Plan participants’ contribution

 
0.3

 

 
0.5

 
 

 
 

Currency translation

 
(0.7
)
 

 
(3.9
)
 
 

 
 

Other

 
(4.9
)
 

 

 
 
 
 
Benefits paid
(26.7
)
 
(15.4
)
 
(28.1
)
 
(14.7
)
 
 

 
 

Fair value of plan assets, December 31
$
290.4

 
$
154.9

 
$
287.2

 
$
154.6

 


 


Funded status
$
(47.0
)
 
$
(189.4
)
 
$
(39.0
)
 
$
(171.4
)
 
$
(251.0
)
 
$
(261.9
)
Amounts recognized in the Consolidated Balance Sheets consist of:
 

 
 

 
 

 
 

 
 

 
 

Non-current assets
$

 
$
0.5

 
$

 
$
0.5

 
$

 
$

Current liabilities
(0.1
)
 
(6.5
)
 
(0.1
)
 
(8.1
)
 
(24.3
)
 
(26.5
)
Non-current liabilities
(46.9
)
 
(183.4
)
 
(38.9
)
 
(163.8
)
 
(226.7
)
 
(235.4
)
Net amount recognized
$
(47.0
)
 
$
(189.4
)
 
$
(39.0
)
 
$
(171.4
)
 
$
(251.0
)
 
$
(261.9
)
Amounts recognized in accumulated other comprehensive loss consist of:
 

 
 

 
 

 
 

 
 

 
 

Net actuarial loss
$
172.8

 
$
54.4

 
$
145.7

 
$
37.4

 
$
106.3

 
$
120.0

Net prior service cost (credit)
(11.3
)
 
0.8

 
(12.1
)
 
1.4

 
(48.7
)
 
(59.5
)
Net amount recognized*
$
161.5

 
$
55.2

 
$
133.6

 
$
38.8

 
$
57.6

 
$
60.5

 
 
 
 
 
 
 
 
 
 
 
 
Total accumulated benefit obligation for all plans
$
337.4

 
$
327.9

 
$
326.2

 
$
316.8

 
 

 
 


________________
*
AOCI shown above does not include our equity investee, NSK-Warner. NSK-Warner had an AOCI loss of $6.9 million and $6.1 million at December 31, 2011 and 2010, respectively.
Funded status of pension plans with accumulated benefit obligations in excess of plan assets [Text Block]
 
December 31,
(millions of dollars)
2011
 
2010
Accumulated benefit obligation
$
(656.9
)
 
$
(634.9
)
Plan assets
435.5

 
432.2

Deficiency
$
(221.4
)
 
$
(202.7
)
Pension deficiency by country:
 

 
 

United States
$
(47.0
)
 
$
(39.0
)
United Kingdom
(13.4
)
 
(7.5
)
Germany
(128.7
)
 
(128.0
)
Other
(32.3
)
 
(28.2
)
Total pension deficiency
$
(221.4
)
 
$
(202.7
)
Weighted average asset allocations of funded pensions plans and target allocations [Text Block]
 
December 31,
 
Target Allocation
 
2011
 
2010
 
U.S. Plans:
 

 
 

 
 
Real estate and other
11
%
 
11
%
 
5%-15%
Fixed income securities
54
%
 
40
%
 
45%-65%
Equity securities
35
%
 
49
%
 
25%-45%
 
100
%
 
100
%
 
 
Non-U.S. Plans:
 

 
 

 
 
Real estate and other
8
%
 
9
%
 
5%-10%
Fixed income securities
41
%
 
36
%
 
35%-45%
Equity securities
51
%
 
55
%
 
50%-60%
 
100
%
 
100
%
 
 
Components of net periodic benefit cost [Text Block]
See the table below for a breakout net periodic benefit cost between U.S. and non-U.S. pension plans:
 
 
Pension benefits
 
Other post employment benefits
 
 
Year Ended December 31,
 
 
 
2011
 
2010
 
2009
 
Year Ended December 31,
 
(millions of dollars)
US
 
Non-US
 
US
 
Non-US
 
US
 
Non-US
 
2011
 
2010
 
2009
 
Service cost
$

 
$
9.1

 
$

 
$
7.4

 
$
0.3

 
$
9.9

 
$
0.7

 
$
0.8

 
$
0.8

 
Interest cost
16.1

 
17.8

 
17.5

 
17.6

 
20.7

 
16.5

 
11.8

 
14.5

 
18.6

 
Expected return on plan assets
(20.8
)
 
(11.2
)
 
(19.7
)
 
(9.7
)
 
(16.2
)
 
(9.6
)
 

 

 

 
Settlements, curtailments and other

 
(0.1
)
 

 

 
3.3

 
0.6

 

 

 
(61.9
)
*
Amortization of unrecognized prior service benefit
(0.7
)
 

 
(0.7
)
 

 
(0.5
)
 

 
(6.9
)
 
(6.9
)
 
(13.2
)
 
Amortization of unrecognized loss
6.5

 
0.8

 
6.6

 
0.8

 
7.3

 
0.8

 
7.9

 
9.1

 
7.3

 
Net periodic benefit cost (benefit)
$
1.1

 
$
16.4

 
$
3.7

 
$
16.1

 
$
14.9

 
$
18.2

 
$
13.5

 
$
17.5

 
$
(48.4
)
 

________________
*In the year ended December 31, 2009, the other post employment benefits settlement/curtailment of $61.9 million, in the table above, was offset by a $34.0 million cost to settle, resulting in a net pre-tax gain of $27.9 million. Excluding the $61.9 million settlement/curtailment gain, the Company's 2009 other post employment benefit expense was $13.5 million.
Defined benefit plan weighted average assumptions used in calculating benefit obligations [Text Block]
 
December 31,
percent
2011
 
2010
U.S. pension plans:
 
 
 
Discount rate
4.42
 
5.17
Rate of compensation increase
N/A
 
3.50
U.S. other post employment plans:

 

Discount rate
4.25
 
4.75
Rate of compensation increase
N/A
 
N/A
Non-U.S. pension plans:

 

Discount rate
5.13
 
5.37
Rate of compensation increase
2.78
 
2.80


The Company’s weighted-average assumptions used to determine the net periodic benefit cost (benefit) for its defined benefit pension and other post employment benefit plans for the years ended December 31, 2011, 2010 and 2009 were as follows:

 
Year Ended December 31,
percent
2011
 
2010
 
2009
U.S. pension plans:
 
 
 
 
 
Discount rate
5.17
 
5.75
 
7.09
Rate of compensation increase
N/A
 
3.50
 
3.50
Expected return on plan assets
7.50
 
7.50
 
7.50
U.S. other post employment plans:
 
 
 
 
 
Discount rate
4.75
 
5.50
 
7.00
Rate of compensation increase
N/A
 
N/A
 
N/A
Expected return on plan assets
N/A
 
N/A
 
N/A
Non-U.S. pension plans:
 
 
 
 
 
Discount rate
5.37
 
5.47
 
5.72
Rate of compensation increase
2.80
 
2.75
 
2.77
Expected return on plan assets
7.07
 
7.12
 
7.10
Defined benefit plan estimated future benefit payments [Text Block]
The estimated future benefit payments for the pension and other post employment benefits are as follows:

 
 
Pension benefits
 
Other post employment benefits
(millions of dollars)
 
 
 
 
 
w/o Medicare Part D reimbursements
 
with Medicare Part D reimbursements
Year
 
U.S.
 
Non-U.S.
 
 
2012
 
$
25.1

 
$
14.6

 
$
25.8

 
$
24.9

2013
 
25.1

 
16.0

 
25.0

 
24.1

2014
 
24.6

 
17.2

 
24.2

 
23.4

2015
 
23.7

 
19.3

 
23.5

 
22.6

2016
 
23.6

 
18.5

 
22.5

 
21.7

2017-2021
 
110.5

 
103.7

 
99.7

 
96.1

Defined benefit plan effect of one percentage point change in assumed health care cost trend rates [Text Block]
A one-percentage point change in the assumed health care cost trend would have the following effects:

 
One Percentage Point
(millions of dollars)
Increase
 
Decrease
Effect on other post employment benefit obligation
$
18.3

 
$
(16.1
)
Effect on total service and interest cost components
$
0.8

 
$
(0.7
)