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Retirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
Schedule of defined benefit plan obligations and assets
The amounts included in the Consolidated Balance Sheets arising from the company's obligations and plan assets in respect of its defined benefit retirement plans are as follows:
 
Retirement Plans
 
Medical Plan
$ in millions
2014
 
2013
 
2014
 
2013
Benefit obligation
(520.2
)
 
(486.2
)
 
(10.2
)
 
(43.6
)
Fair value of plan assets
420.6

 
407.1

 
7.2

 
10.0

Funded status
(99.6
)
 
(79.1
)
 
(3.0
)
 
(33.6
)
Amounts recognized in the Consolidated Balance Sheets:
 
 
 
 
 
 
 
Other assets
3.1

 
2.1

 
—

 
—

Accrued compensation and benefits
(102.7
)
 
(81.2
)
 
(3.0
)
 
(33.6
)
Funded status
(99.6
)
 
(79.1
)
 
(3.0
)
 
(33.6
)
Changes in defined benefit plan obligations
Changes in the benefit obligations were as follows:
 
Retirement Plans
 
Medical Plan
$ in millions
2014
 
2013
 
2014
 
2013
January 1
486.2

 
426.7

 
43.6

 
53.2

Service cost
4.9

 
4.4

 
—

 
0.2

Interest cost
21.0

 
19.0

 
1.8

 
1.9

Contributions from plan participants
—

 
—

 
0.4

 
0.5

Actuarial (gains)/losses
51.1

 
32.6

 
(9.2
)
 
(8.9
)
Exchange difference
(35.0
)
 
12.1

 
—

 
—

Benefits paid
(8.0
)
 
(8.6
)
 
(2.9
)
 
(1.8
)
Plan amendments*
—

 
—

 
(23.5
)
 
—

Curtailment
—

 
—

 
—

 
(1.5
)
December 31
520.2

 
486.2

 
10.2

 
43.6
Schedule of assumptions used to determine defined benefit obligations
The weighted average assumptions used to determine defined benefit obligations at December 31, 2014, and 2013 are as follows:
 
Retirement Plans
 
Medical Plan
 
2014
 
2013
 
2014
 
2013
Discount rate
3.52
%
 
4.39
%
 
—
%
 
4.70
%
Expected rate of salary increases
3.06
%
 
3.37
%
 
—
%
 
2.50
%
Future pension/medical cost trend rate increases
2.88
%
 
2.85
%
 
5.00%-6.80%

 
5.00%-7.20%
Changes in the fair value of plan assets
Changes in the fair value of plan assets in the current period were as follows:
 
Retirement Plans
 
Medical Plan
$ in millions
2014
 
2013
 
2014
 
2013
January 1
407.1

 
338.9

 
10.0

 
9.1

Actual return on plan assets
32.2

 
51.4

 
—

 
1.0

Exchange difference
(26.6
)
 
9.1

 
0.1

 
—

Contributions from the company
15.9

 
15.3

 
—

 
—

Contributions from plan participants
—

 
—

 
0.1

 
0.2

Benefits paid
(8.0
)
 
(8.6
)
 
(3.0
)
 
(0.3
)
Settlement and other
—

 
1.0

 
—

 
—

December 31
420.6

 
407.1

 
7.2

 
10.0
Breakdown of amount recognized in accumulated other comprehensive income
The components of the amount recognized in accumulated other comprehensive income at December 31, 2014, and 2013 are as follows:
 
Retirement Plans
 
Medical Plan
$ in millions
2014
 
2013
 
2014
 
2013
Prior service cost/(credit)
—

 
—

 
(21.6
)
 
(5.7
)
Net actuarial loss/(gain)
136.5

 
100.7

 
(8.7
)
 
0.2

Total
136.5

 
100.7

 
(30.3
)
 
(5.5
)
Breakdown of amounts in accumulated other comprehensive income expected to be amortized into net periodic benefit cost
The amounts in accumulated other comprehensive income expected to be amortized into net periodic benefit cost during the year ending December 31, 2015 are as follows:
$ in millions
Retirement Plans
 
Medical Plan
Prior service cost/(credit)
—

 
(11.3
)
Net actuarial loss/(gain)
2.1

 
(0.3
)
Total
2.1

 
(11.6
)
Schedule of benefit obligations in excess of plan assets

The total accumulated benefit obligation and fair value of plan assets for plans with accumulated benefit obligations in excess of plan assets and the projected benefit obligation and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets are as follows:
 
Retirement Plans
$ in millions
2014
 
2013
Plans with accumulated benefit obligation in excess of plan assets:
 
 
 
Accumulated benefit obligation
509.9

 
473.2

Fair value of plan assets
406.1

 
394.2

Plans with projected benefit obligation in excess of plan assets:

 


Projected benefit obligation
509.9

 
473.2

Fair value of plan assets
406.1

 
394.2
Schedule of defined benefit plans
The following table shows significant unobservable inputs used in the fair value measurement of level 3 assets and liabilities:
Assets
 
Fair Value at December 31, 2014 ($ in millions)
 
Valuation Technique
 
Unobservable Inputs
 
Range
Guaranteed investment contracts
 
13.1

 
Discounted cash flow
 
Discount rate
 
3.6%
 
 
 
 
 
 
Mortality assumption
 
Standard U.K. mortality tables with a long-term rate of improvement of 1.25%
The components of net periodic benefit cost in respect of these defined benefit plans are as follows:
 
Retirement Plans
 
Medical Plan
$ in millions
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost
4.9

 
4.4

 
4.5

 
—

 
0.2

 
0.3

Interest cost
21.0

 
19.0

 
19.6

 
1.8

 
1.9

 
2.1

Expected return on plan assets
(24.6
)
 
(18.5
)
 
(17.4
)
 
(0.3
)
 
(0.6
)
 
(0.5
)
Amortization of prior service cost/(credit)
0.1

 
0.1

 
—

 
(2.3
)
 
(2.0
)
 
(2.0
)
Amortization of net actuarial (gain)/loss
1.8

 
2.0

 
2.2

 
—

 
0.3

 
0.2

Curtailment (gain)/loss
—

 
—

 
—

 
(4.3
)
 
—

 
—

Net periodic benefit cost
3.2

 
7.0

 
8.9

 
(5.1
)
 
(0.2
)
 
0.1
Schedule of assumptions used to determine net periodic benefit cost
The weighted average assumptions used to determine net periodic benefit cost for the years ended December 31, 2014, 2013, and 2012 are:
 
Retirement Plans
 
2014
 
2013
 
2012
Discount rate
4.39
%
 
4.67
%
 
4.92
%
Expected return on plan assets
6.01
%
 
5.60
%
 
5.75
%
Expected rate of salary increases
3.37
%
 
3.09
%
 
3.34
%
Future pension rate increases
2.85
%
 
2.79
%
 
3.22
%

 
Medical Plan
 
2014
 
2013
 
2012
Discount rate
4.70
%
 
3.79
%
 
4.34
%
Expected return on plan assets
6.25
%
 
6.50
%
 
7.00
%
Expected rate of salary increases
2.50
%
 
2.50
%
 
3.00
%
Future medical cost trend rate increases
5.00%-7.20%

 
5.00%-7.60%

 
5.00%-8.00%
Assumed health care cost rates
The assumed health care cost rates are as follows:
 
Medical Plan
 
2014
 
2013
 
2012
Health care cost trend rate assumed for next year
6.80
%
 
7.60
%
 
8.00
%
Rate to which cost trend rate gradually declines
5.00
%
 
5.00
%
 
5.00
%
Year the rate reaches level it is assumed to remain thereafter
2020

 
2020

 
2020
Analysis of plan assets
The analysis of the plan assets as of December 31, 2014 was as follows:
$ in millions
Retirement Plans
 
% of Plan Assets
 
Medical Plan
 
% of Plan Assets
Cash and cash equivalents
3.8

 
0.9
%
 
7.2

 
100.0
%
Fund investments
197.5

 
46.9
%
 
—

 
—
%
Equity securities
124.8

 
29.7
%
 
—

 
—
%
Government debt securities
76.5

 
18.2
%
 
—

 
—
%
Other assets
4.9

 
1.2
%
 
—

 
—
%
Guaranteed investments contracts
13.1

 
3.1
%
 
—

 
—
%
Total
420.6

 
100.0
%
 
7.2

 
100.0
%

The analysis of the plan assets as of December 31, 2013 was as follows:
$ in millions
Retirement Plans
 
% of Plan Assets
 
Medical Plan
 
% of Plan Assets
Cash and cash equivalents
4.1

 
1.0
%
 
0.2

 
2.0
%
Fund investments
193.0

 
47.3
%
 
9.8

 
98.0
%
Equity securities
122.8

 
30.2
%
 
—

 
—
%
Government debt securities
65.6

 
16.1
%
 
—

 
—
%
Other assets
6.4

 
1.6
%
 
—

 
—
%
Guaranteed investments contracts
15.2

 
3.7
%
 
—

 
—
%
Total
407.1

 
100.0
%
 
10.0

 
100.0
%
Schedule of fair value of plan assets by three level fair value hierarchy
The following table presents the carrying value of the plan assets, including major security type for equity and debt securities, which are measured at fair value as of December 31, 2014:
 
As of December 31, 2014
$ in millions
Fair Value Measurements
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
Cash and cash equivalents
7.2

 
7.2

 
—

 
—

Fund investments
197.5

 
197.5

 
—

 
—

Equity securities
124.8

 
124.8

 
—

 
—

Government debt securities
76.5

 
15.2

 
61.3

 
—

Other assets
4.9

 
4.9

 
—

 
—

Guaranteed investments contracts
13.1

 
—

 
—

 
13.1

Total
424.0

 
349.6

 
61.3

 
13.1


The following table presents the carrying value of the plan assets, including major security type for equity and debt securities, which are measured at fair value as of December 31, 2013:
 
As of December 31, 2013
$ in millions
Fair Value Measurements
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
Cash and cash equivalents
0.2

 
0.2

 
—

 
—

Fund investments
202.8

 
202.8

 
—

 
—

Equity securities
122.8

 
122.8

 
—

 
—

Government debt securities
65.6

 
12.7

 
52.9

 
—

Other assets
6.4

 
6.4

 
—

 
—

Guaranteed investment contracts
15.2

 
—

 
—

 
15.2

Total
413.0

 
344.9

 
52.9

 
15.2
Reconciliation of beginning and ending fair value balances for assets with unobservable fair value inputs
The following table shows a reconciliation of the beginning and ending fair value measurement for level 3 assets, which is comprised solely of the guaranteed investment contracts, using significant unobservable inputs:
$ in millions
Year ended December 31, 2014
 
Year ended December 31, 2013
Balance, beginning of year
15.2

 
14.8

Unrealized gains/(losses) relating to the instrument still held at the reporting date
1.0

 
1.1

Purchases, sales, issuances and settlements (net)
(3.1
)
 
(0.7
)
Balance, end of year
13.1

 
15.2
Schedule of benefits expected to be paid in next five fiscal years and the five fiscal years thereafter
The benefits expected to be paid in each of the next five fiscal years and in the five fiscal years thereafter are as follows:
$ in millions
Retirement Plans
 
Medical Plan
Expected benefit payments:
 
 
 
2015
9.4

 
3.0

2016
10.4

 
6.2

2017
11.5

 
0.4

2018
12.6

 
0.3

2019
13.9

 
0.2

Thereafter in the succeeding five years
86.8

 
—