EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2012

EMPLOYEE BENEFIT PLANS

18. EMPLOYEE BENEFIT PLANS

Net periodic cost for our pension and postretirement benefit plans was as follows:

	Pension Plans						Postretirement Plans
Three months ended June 30,	2012			2011			2012			2011
Service cost	$	1.5		$	1.3		$	0.4		$	0.2
Interest cost		10.0			10.7			2.3			2.9
Expected return on plan assets		(12.1	)		(12.2	)		(0.5	)		(0.7	)
Net amortization		6.7			5.0			0.4			(1.6	)
Net periodic cost	$	6.1		$	4.8		$	2.6		$	0.8
	Pension Plans						Postretirement Plans
Six months ended June 30,	2012			2011			2012			2011
Service cost	$	3.0		$	2.8		$	0.7		$	0.5
Interest cost		20.0			21.3			4.6			5.7
Expected return on plan assets		(24.2	)		(24.2	)		(1.0	)		(1.4	)
Net amortization		13.4			10.1			0.9			(3.4	)
Curtailment loss (gain) (1)		0.0			0.1			0.0			(1.1	)
Net periodic cost	$	12.2		$	10.1		$	5.2		$	0.3

The net periodic costs disclosed in the above table exclude the plans of subsidiaries primarily dedicated to the former Coating Resins segment, which are included in assets and liabilities held for sale on the consolidated balance sheets. Certain employees of our discontinued Coating Resins and Building Block Chemicals segments historically participated in our continuing plans. The amounts of the costs disclosed above charged to discontinued operations were approximately as follows:

	Pension Plans				Postretirement Plans
	2012		2011		2012		2011
Three months ended June 30(1)	$	0.9	$	0.7	$	0.4	$	0.1
Six months ended June 30(1)	$	1.8	$	2.0	$	0.8	$	(0.9	)

(1) Six months ended June 30, 2011 includes a pension curtailment charge of $0.1 and a postretirement plan curtailment gain of $1.1 resulting from the sale of our former Building Block Chemicals segment, which are included in gain on sale of discontinued operations, net of tax in the consolidated statements of income.

We disclosed in our 2011 Annual Report on Form 10-K that we expected to contribute $40.7 and $11.2, respectively, to our pension and postretirement plans in 2012. Expected contributions to our continuing plans were $35.5 and $11.2. Through June 30, 2012, actual contributions to our continuing pension and postretirement plans were $18.3 and $7.4, respectively.

We also sponsor various defined contribution retirement plans in the United States and a number of other countries, consisting primarily of savings and profit growth sharing plans. Contributions to the savings plans are based in part on matching a percentage of employees’ contributions. Contributions to the profit growth sharing plans are generally based on our financial performance. Amounts expensed related to these plans, excluding plans of subsidiaries primarily dedicated to the discontinued Coating Resins segment, for the three months ended June 30, 2012 and 2011 were $5.1 and $5.0, respectively, and for the six months ended June 30, 2012 and 2011 were $12.3 and $13.5, respectively. Certain employees of our discontinued Coating Resins and Building Block Chemicals segments historically participated in our continuing plans. Amounts included within these expenses that were charged to discontinued operations were approximately $0.7 and $0.8 for the three months ended June 30, 2012 and 2011, respectively, and $1.6 and $2.6 for the six months ended June 30, 2012 and 2011, respectively.