XML 27 R15.htm IDEA: XBRL DOCUMENT v3.5.0.2
Retirement Benefit Plans
 6 Months Ended
Jun. 30, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
RETIREMENT BENEFIT PLANS
RETIREMENT BENEFIT PLANS
Defined Contribution Plans
The total amounts charged to the Condensed Consolidated Statements of Income for the three and six months ended June 30, 2016 of $15.2 million and $30.4 million, respectively (three and six months ended June 30, 2015: $15.3 million and $30.7 million, respectively) represent contributions paid or payable to these plans by the company at rates specified in the rules of the plans. As of June 30, 2016, accrued contributions of $14.9 million (December 31, 2015: $24.5 million) for the current year will be paid to the plans.
Defined Benefit Plans
The components of net periodic benefit cost in respect of these defined benefit plans are as follows:
 
Retirement Plans
 
Medical Plan
 
For the three months ended June 30,
 
For the six months ended June 30,
 
For the three months ended June 30,
 
For the six months ended June 30,
$ in millions
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Service cost
1.4

 
1.3

 
2.8

 
2.5

 
—

 
—

 
—

 
—

Interest cost
4.4

 
5.2

 
8.8

 
10.5

 
—

 
—

 
—

 
—

Expected return on plan assets
(5.7
)
 
(6.1
)
 
(11.4
)
 
(12.3
)
 
—

 
(0.1
)
 
—

 
(0.2
)
Amortization of prior service cost/(credit)
—

 
0.1

 
—

 
0.1

 
(2.9
)
 
(2.5
)
 
(4.9
)
 
(4.7
)
Amortization of net actuarial (gain)/loss
0.5

 
0.7

 
1.0

 
1.3

 
—

 
—

 
—

 
—

Net periodic benefit cost/(benefit)
0.6

 
1.2

 
1.2

 
2.1

 
(2.9
)
 
(2.6
)
 
(4.9
)
 
(4.9
)

The estimated amounts of contributions expected to be paid to the plans during 2016 are $15.5 million for retirement plans and none for the medical plan. Payments made to the plans during the six months ended June 30, 2016 were $7.8 million to the retirement plan and zero to the medical plan.