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Retirement Benefit Plans
 9 Months Ended
Sep. 30, 2013
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
Retirement Benefit Plans
RETIREMENT BENEFIT PLANS
Defined Contribution Plans
The company operates defined contribution retirement benefit plans for all qualifying employees. The assets of the plans are held separately from those of the company in funds under the control of trustees. When employees leave the plans prior to vesting fully in the contributions, the contributions payable by the company are reduced by the amount of forfeited contributions.
The total amounts charged to the Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2013 are $11.3 million and $39.4 million, respectively (three and nine months ended September 30, 2012: $11.2 million and $38.2 million, respectively).
Defined Benefit Plans
The company maintains legacy defined benefit pension plans for qualifying employees of its subsidiaries in the U.K., Ireland, Germany, and Taiwan. All defined benefit plans are closed to new participants. The company also maintains a post-retirement medical plan in the U.S., which was closed to new participants in 2005. In 2006, the plan was amended to eliminate benefits for all participants who did not meet retirement eligibility by 2008. The assets of all defined schemes are held in separate trustee-administered funds. Under the plans, the employees are generally entitled to retirement benefits based on final salary at retirement.
The components of net periodic benefit cost in respect of these defined benefit plans are as follows:
 
Three months ended September 30,
 
Nine months ended September 30,
 
Retirement Plans
 
Medical Plan
 
Retirement Plans
 
Medical Plan
$ in millions
2013
 
2012
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Service cost
(1.2
)
 
(1.1
)
 
—

 
(0.1
)
 
(3.4
)
 
(3.3
)
 
(0.2
)
 
(0.3
)
Interest cost
(4.9
)
 
(4.7
)
 
(0.6
)
 
(0.6
)
 
(14.7
)
 
(14.3
)
 
(1.6
)
 
(1.8
)
Expected return on plan assets
4.3

 
4.4

 
0.2

 
0.1

 
13.1

 
13.2

 
0.4

 
0.3

Amortization of prior service cost
—

 
—

 
0.5

 
0.5

 
—

 
—

 
1.5

 
1.5

Amortization of net actuarial (loss)/gain
(0.5
)
 
(0.3
)
 
—

 
(0.1
)
 
(1.7
)
 
(0.9
)
 
(0.2
)
 
(0.3
)
Net periodic benefit cost
(2.3
)
 
(1.7
)
 
0.1

 
(0.2
)
 
(6.7
)
 
(5.3
)
 
(0.1
)
 
(0.6
)

The estimated amount of contributions expected to be paid to the retirement plans during 2013 is $15.9 million, with an additional expected contribution of $2.3 million to the medical plan.