XML 34 R22.htm IDEA: XBRL DOCUMENT v3.7.0.1
Postretirement Benefit Plans
 6 Months Ended
Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]  
Postretirement Benefit Plans Note 15 - Retirement Benefit Plans
The following table sets forth the net periodic benefit cost for the Company’s defined benefit pension plans. The amounts for the three months and six months ended June 30, 2017 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of each period’s proportionate share of the amounts to be recorded for the year ending December 31, 2017.
 
U.S. Plans
International Plans
Total
 
Three Months Ended
June 30,
Three Months Ended
June 30,
Three Months Ended
June 30,
 
2017
2016
2017
2016
2017
2016
Components of net periodic benefit cost:
 
 
 
 
 
 
Service cost
$
3.0

$
3.3

$
0.4

$
0.3

$
3.4

$
3.6

Interest cost
6.1

6.7

1.9

2.8

8.0

9.5

Expected return on plan assets
(7.0
)
(7.5
)
(2.7
)
(2.7
)
(9.7
)
(10.2
)
Amortization of prior service cost
0.4

0.4

—

—

0.4

0.4

Net periodic benefit cost
$
2.5

$
2.9

$
(0.4
)
$
0.4

$
2.1

$
3.3


 
U.S. Plans
International Plans
Total
 
Six Months Ended
June 30,
Six Months Ended
June 30,
Six Months Ended
June 30,
 
2017
2016
2017
2016
2017
2016
Components of net periodic benefit cost:
 
 
 
 
 
 
Service cost
$
6.1

$
6.6

$
0.8

$
0.7

$
6.9

$
7.3

Interest cost
12.3

13.4

3.7

5.6

16.0

19.0

Expected return on plan assets
(14.0
)
(14.9
)
(5.4
)
(5.4
)
(19.4
)
(20.3
)
Amortization of prior service cost
0.7

0.8

—

—

0.7

0.8

Recognition of actuarial loss
4.4

—

—

—

4.4

—

Net periodic benefit cost
$
9.5

$
5.9

$
(0.9
)
$
0.9

$
8.6

$
6.8

During the first quarter of 2017, the Company recognized actuarial losses of $4.4 million as a result of the remeasurement of plan assets and obligations for one of the Company’s U.S. defined benefit pension plans. The remeasurement was due to lump sum payments exceeding service and interest costs for this plan.Note 16 - Other Postretirement Benefit Plans
The following table sets forth the net periodic benefit cost for the Company’s other postretirement benefit plans. The amounts for the three and six months ended June 30, 2017 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of each period’s proportionate share of the amounts to be recorded for the year ending December 31, 2017.
 
Three Months Ended
June 30,
Six Months Ended
June 30,
 
2017
2016
2017
2016
Components of net periodic benefit cost:
 
 
 
 
Service cost
$
0.1

$
0.1

$
0.1

$
0.2

Interest cost
2.2

2.8

4.5

5.5

Expected return on plan assets
(1.4
)
(1.7
)
(2.8
)
(3.3
)
Amortization of prior service cost
(0.3
)
0.3

(0.5
)
0.5

Net periodic benefit cost
$
0.6

$
1.5

$
1.3

$
2.9