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RETIREMENT PLANS AND OTHER BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Schedule of Net Benefit Costs
Information regarding the Company’s plans, including SERP, was as follows (in millions, except percent values):
 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
 
Other Benefits
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Accumulated benefit obligation at end of year
$
161.2

 
$
167.2

 
$
209.7

 
$
214.9

 
 

 
 

Change in benefit obligation:
 
 
 

 
 

 
 

 
 

 
 

Benefit obligation at beginning of year
$
174.0

 
$
184.9

 
$
217.1

 
$
243.0

 
$
4.9

 
$
5.7

Service cost
0.6

 
1.1

 
3.1

 
2.9

 
—

 
—

Interest cost
7.1

 
7.2

 
6.5

 
6.9

 
0.2

 
0.2

Transfer to Held for Sale
—

 
—

 
(5.5
)
 
—

 
—

 
—

Actuarial loss (gain)
2.5

 
(7.8
)
 
25.9

 
(9.9
)
 
(0.6
)
 
(0.5
)
Benefits paid
(16.6
)
 
(11.4
)
 
(9.4
)
 
(8.8
)
 
(0.3
)
 
(0.5
)
Foreign exchange effect
—

 
—

 
(26.2
)
 
(17.0
)
 
—

 
—

Benefit obligation at end of year
167.6

 
174.0

 
211.5

 
217.1

 
4.2

 
4.9

Change in plan assets:
 
 
 

 
 

 
 

 
 

 
 

Fair value of plan assets at beginning of year
123.1

 
136.8

 
111.2

 
119.0

 
—

 
—

Actual return on plan assets
9.5

 
(2.4
)
 
18.4

 
(0.3
)
 
—

 
—

Employer contribution
1.1

 
0.1

 
6.7

 
7.2

 
0.3

 
0.5

Employee contribution
—

 
—

 
0.4

 
0.3

 
—

 
—

Benefits paid
(16.6
)
 
(11.4
)
 
(9.4
)
 
(8.8
)
 
(0.3
)
 
(0.5
)
Foreign exchange effect
—

 
—

 
(19.0
)
 
(6.2
)
 
—

 
—

Fair value of plan assets at end of year
117.1

 
123.1

 
108.3

 
111.2

 
—

 
—

Funded status
$
(50.5
)
 
$
(50.9
)
 
$
(103.2
)
 
$
(105.9
)
 
$
(4.2
)
 
$
(4.9
)
Amounts recognized in the statement of financial position consist of:
 
 
 

 
 
 
 
 
 

 
 

Current liabilities
$
1.2

 
$
1.0

 
$
2.4

 
$
3.1

 
$
0.5

 
$
0.6

Non-current liabilities
49.3

 
49.9

 
100.8

 
102.8

 
3.7

 
4.3

Total liabilities
$
50.5

 
$
50.9

 
$
103.2

 
$
105.9

 
$
4.2

 
$
4.9

Amounts recognized in accumulated other comprehensive loss consist of:
 
 
 

 
 

 
 

 
 

 
 

Actuarial net loss
$
75.6

 
$
78.5

 
$
148.5

 
$
126.5

 
$
—

 
$
0.6

Prior service cost
0.3

 
0.4

 
(2.2
)
 
0.2

 
—

 
—

Total amounts recognized in accumulated other comprehensive loss
$
75.9

 
$
78.9

 
$
146.3

 
$
126.7

 
$
—

 
$
0.6
Schedule of Assumptions Used
 
U.S. Pension Benefits
 
Non-U.S.Pension Benefits
 
Other Benefits
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Weighted-average assumptions as of December 31:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Discount rate(1)
4.03
%
 
4.20
%
 
4.02
%
 
2.27
%
 
3.23
%
 
2.97
%
 
3.81
%
 
3.91
%
 
3.74
%
Expected return on plan assets
7.00
%
 
7.50
%
 
7.50
%
 
5.90
%
 
5.93
%
 
5.96
%
 
N/A

 
N/A

 
N/A

Rate of compensation increase(1)
3.75
%
 
3.75
%
 
3.75
%
 
0.89
%
 
0.83
%
 
0.84
%
 
N/A

 
N/A

 
N/A
Schedule of Net Periodic Benefit Cost Not yet Recognized
 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
 
Other Benefits
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Components of net periodic cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
0.6

 
$
1.1

 
$
0.9

 
$
3.1

 
$
2.9

 
$
1.6

 
$
—

 
$
—

 
$
—

Interest cost
7.1

 
7.2

 
7.2

 
6.5

 
6.9

 
8.9

 
0.2

 
0.2

 
0.2

Expected return on plan assets
(8.3
)
 
(9.9
)
 
(9.2
)
 
(6.0
)
 
(7.0
)
 
(6.7
)
 
—

 
—

 
—

Recognition of prior service cost
0.2

 
0.1

 
0.1

 
—

 
—

 
2.0

 
—

 
—

 
—

Amortization of actuarial loss
4.2

 
3.8

 
2.1

 
2.5

 
3.2

 
1.8

 
—

 
0.1

 
0.1

Other
—

 
—

 
—

 
(0.4
)
 
(0.3
)
 
—

 
—

 
—

 
—

Net periodic cost 
$
3.8

 
$
2.3

 
$
1.1

 
$
5.7

 
$
5.7

 
$
7.6

 
$
0.2

 
$
0.3

 
$
0.3
Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
 
Other Benefits
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
 

 
 

 
 
 
 
 
 

 
 

Net (gain) loss
$
1.3

 
$
4.3

 
$
39.7

 
$
(12.9
)
 
$
(0.6
)
 
$
(0.5
)
Amortization of actuarial losses
(4.2
)
 
(3.7
)
 
(5.6
)
 
(7.5
)
 
—

 
—

Amortization of prior service cost
(0.1
)
 
(0.1
)
 
(2.3
)
 
(0.1
)
 
—

 
—

Foreign exchange effect
—

 
—

 
(12.2
)
 
(12.7
)
 
—

 
—

Total recognized in other comprehensive income (loss)
$
(3.0
)
 
$
0.5

 
$
19.6

 
$
(33.2
)
 
$
(0.6
)
 
$
(0.5
)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
 
U.S. Pension
Benefits
 
Non-U.S. Pension Benefits
 
Other
Benefits
Amounts expected to be recognized as components of net periodic cost for the year ending December 31, 2017:
 
 
 
 
 
Actuarial net loss
$
4.1

 
$
3.3

 
$
—

Prior service cost
0.1

 
—

 
—

Total amount expected to be recognized as components of net periodic cost for the year ending December 31, 2017
$
4.2

 
$
3.3

 
$
—
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
For the Company’s plans, including the SERP, that have accumulated benefit obligations in excess of plan assets the projected benefit obligation, accumulated benefit obligation and fair value of plan assets were (in millions):
 
U.S. Pension
Benefits
 
Non-U.S. Pension Benefits
 
2016
 
2015
 
2016
 
2015
Projected benefit obligation
$
167.6

 
$
174.0

 
$
211.5

 
$
217.1

Accumulated benefit obligation
$
161.2

 
$
167.2

 
$
209.7

 
$
214.9

Fair value of plan assets
$
117.1

 
$
123.1

 
$
108.3

 
$
111.2
Schedule of Fair Value of Plan Assets by Measurement Levels
The fair value of cash in the table below is based on price quotations in an active market and therefore categorized under Level 1 of the ASC 820 hierarchy. The fair value of the investment funds is priced on the market value of the underlying investments in the portfolio and therefore categorized as Level 2 of the ASC 820 hierarchy. See Note B – “Basis of Presentation,” for an explanation of the ASC 820 hierarchy.

On January 1, 2016, the Company adopted ASU 2015-07, “Fair Value Measurement (Topic 820); Disclosures for Investments in Certain Entities That Calculate Net Asset Value Per Share (or Its Equivalent)” (“ASU 2015-07”). This ASU includes a practical expedient to remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured at the net asset value per share. ASU 2015-07 requires retroactive application and resulted in a reclassification of plan assets of $119.5 million in 2015 from Level 2 to Net asset value (“NAV”).

The fair value of the Company’s plan assets at December 31, 2016 are as follows (in millions):
 
U.S. Pension Plan
 
Non-U.S. Pension Plans
 
Total
 
Level 1
 
Level 2
 
NAV
 
Total
 
Level 1
 
Level 2
 
NAV
Cash, including money market funds
$
2.5

 
$
2.5

 
$
—

 
$
—

 
$
2.1

 
$
2.1

 
$
—

 
$
—

U.S. equities
28.6

 
—

 
—

 
28.6

 
5.9

 
—

 
5.9

 
—

Non-U.S. equities
8.7

 
—

 
—

 
8.7

 
21.2

 
—

 
21.2

 
—

U.S. corporate bonds
56.4

 
—

 
—

 
56.4

 
0.9

 
—

 
0.9

 
—

Non-U.S. corporate bonds
—

 
—

 
—

 
—

 
17.7

 
—

 
17.7

 
—

U.S. government securities
12.7

 
—

 
—

 
12.7

 
0.6

 
—

 
0.6

 
—

Non-U.S. government securities
0.3

 
—

 
—

 
0.3

 
29.3

 
—

 
29.3

 
—

Real estate
—

 
—

 
—

 
—

 
2.8

 
—

 
2.8

 
—

Other securities
7.9

 
—

 
—

 
7.9

 
27.8

 
—

 
27.8

 
—

Total investments measured at fair value
$
117.1

 
$
2.5

 
$
—

 
$
114.6

 
$
108.3

 
$
2.1

 
$
106.2

 
$
—

 

The fair value of the Company’s plan assets at December 31, 2015 are as follows (in millions):
 
U.S. Pension Plan
 
Non-U.S. Pension Plans
 
Total
 
Level 1
 
Level 2
 
NAV
 
Total
 
Level 1
 
Level 2
 
NAV
Cash, including money market funds
$
3.6

 
$
3.6

 
$
—

 
$
—

 
$
4.4

 
$
4.4

 
$
—

 
$
—

U.S. equities
28.5

 
—

 
—

 
28.5

 
6.3

 
—

 
6.3

 
—

Non-U.S. equities
9.3

 
—

 
—

 
9.3

 
21.7

 
—

 
21.7

 
—

U.S. corporate bonds
58.7

 
—

 
—

 
58.7

 
0.1

 
—

 
0.1

 
—

Non-U.S. corporate bonds
—

 
—

 
—

 
—

 
20.3

 
—

 
20.3

 
—

U.S. government securities
14.0

 
—

 
—

 
14.0

 
—

 
—

 
—

 
—

Non-U.S. government securities
0.1

 
—

 
—

 
0.1

 
29.8

 
—

 
29.8

 
—

Real estate
—

 
—

 
—

 
—

 
3.4

 
—

 
3.4

 
—

Other securities
8.9

 
—

 
—

 
8.9

 
25.2

 
—

 
25.2

 
—

Total investments measured at fair value
$
123.1

 
$
3.6

 
$
—

 
$
119.5

 
$
111.2

 
$
4.4

 
$
106.8

 
$
—
Schedule of Expected Benefit Payments
The Company’s estimated future benefit payments under its plans are as follows (in millions):
Year Ending December 31,
 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
 
Other Benefits
2017
 
$
11.6

 
$
8.4

 
$
0.5

2018
 
$
11.4

 
$
6.6

 
$
0.4

2019
 
$
11.3

 
$
6.9

 
$
0.4

2020
 
$
11.4

 
$
7.1

 
$
0.4

2021
 
$
11.2

 
$
7.6

 
$
0.3

2022-2026
 
$
54.5

 
$
41.5

 
$
1.4
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one-percentage-point change in assumed health care cost trend rates would have the following effects (in millions):
 
1-Percentage-
Point Increase
 
1-Percentage-
Point Decrease
Effect on total service and interest cost components
$
—

 
$
—

Effect on post-retirement benefit obligation
$
0.2

 
$
(0.2
)