Pension and Other Postemployment Benefit (OPEB) Plans

6 Months Ended

Jun. 30, 2011

Pension and Other Postemployment Benefit (OPEB) Plans [Abstract]

Pension and Other Postemployment Benefit (OPEB) Plans

NOTE 5. Pension and Other Postemployment Benefit (OPEB) Plans

The following tables present the components of net periodic expense (benefit) of the Company’s Pension and OPEB plans:

	Pension Benefits						Other Benefits
	Three Months Ended						Three Months Ended
	June 30,						June 30,
(In Millions)	2011			2010			2011			2010
Service cost	$	0.5		$	0.5		$	0.2		$	0.1
Interest cost		2.0			2.0			0.2			0.5
Expected return on plan assets		(2.1	)		(2.1	)		—			—
Amortization of net loss (gain)		0.3			0.4			(2.4	)		(1.2	)
Additional expense due to curtailments, settlements and terminations (see below)		—			—			—			(6.8	)
Net periodic expense (benefit)	$	0.7		$	0.8		$	(2.0	)	$	(7.4	)

	Pension Benefits						Other Benefits
	Six Months Ended						Six Months Ended
	June 30,						June 30,
(In Millions)	2011			2010			2011			2010
Service cost	$	1.0		$	1.0		$	0.4		$	0.2
Interest cost		4.0			4.7			0.4			1.1
Expected return on plan assets		(4.2	)		(6.1	)		—			—
Amortization of net loss (gain)		0.6			0.7			(4.8	)		(2.5	)
Additional expense (income) due to curtailments, settlements and terminations (see below)		—			29.4			—			(6.8	)
Net periodic expense (benefit)	$	1.4		$	29.7		$	(4.0	)	$	(8.0	)

In the second quarter of 2010, “Additional expense due to curtailments, settlements and terminations” in other benefits included the impact of post-retirement benefits that were terminated for a plant closing and a sold business. These terminations resulted in a non-cash curtailment gain of $7.0 million ($6.6 million recorded in discontinued operations and $0.4 million recorded in Impairments, restructuring charges, and other items), partially offset by $0.2 million of other expenses.

For the six months ended June 30, 2010, “Additional expense due to curtailments, settlements and terminations” in pension benefits included reversion of our hourly pension plan that yielded $43.6 million, net of excise taxes, in net proceeds to us. The reversion resulted in a non-cash charge of $29.2 million. In addition, our salary plan incurred $0.2 million in costs for special termination benefits.

We have defined contribution retirement plans that cover substantially all domestic employees. The combined expense for these plans was $0.4 million and $0.6 million for the three months ended June 30, 2011 and 2010, respectively and $1.5 million for the six months ended June 30, 2011 and 2010, respectively. All contributions were funded from the proceeds obtained from the reversion of our former salaried pension plan.