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BENEFIT PLANS: (Tables)

12 Months Ended

Dec. 31, 2020

Post retirement defined benefit plans and defined contribution plan

Components of net periodic benefit costs

Schedule of the components of net periodic benefit costs

​

​	​	​	​	​	​	​	​	​	​
(in millions)		2020			2019			2018
Service cost	​	$	1.4	​	$	1.1	​	$	1.0
Interest cost	​		1.7	​		1.8	​		1.6
Expected return on plan assets	​		(2.9)	​		(3.5)	​		(3.4)
Amortization of net actuarial loss	​	​	0.1	​	​	—	​	​	—
Amortization of prior service cost / (credit)	​		0.2	​		0.2	​		0.2
Settlement / Curtailment	​	​	(0.4)	​	​	—	​	​	(0.2)
Amortization of net loss/(gain)	​		0.2	​		0.3	​		0.2
Net periodic benefit cost	​	$	0.3	​	$	(0.1)	​	$	(0.6)

Schedule of changes in the benefit obligation and plan assets, the funded status of the plans and the amount recognized in balance sheet and accumulated other comprehensive income

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in millions)		2020			2019
Change in benefit obligation:	​	​	​	​	​	​
Projected benefit obligation at beginning of year	​	$	33.7	​	$	27.4
Service cost	​		1.4	​		1.1
Interest cost	​		1.7	​		1.8
Settlement	​		—	​		—
Benefits paid	​		(1.9)	​		(1.8)
Actuarial (gain)/loss	​		(4.2)	​		3.6
Actuarial gain assumption changes	​		0.8	​		0.9
Inflation adjustment	​		(1.6)	​		0.7
Projected benefit obligation at end of year	​	$	29.9	​	$	33.7
Change in plan assets:	​	​	​	​	​	​
Fair value of plan assets at beginning of year	​	$	51.6	​	$	46.7
Actual return on plan assets	​		6.5	​		4.8
Employer contributions	​		(0.6)	​		(0.6)
Benefits paid	​		(0.9)	​		(0.9)
Currency exchange rate adjustment	​		(2.2)	​		1.6
Fair value of plan assets at end of year	​	$	54.4	​	$	51.6
Funded status at end of year:	​	$	24.5	​	$	17.9
ASC-715 amounts recognized in statement of financial position consists of:	​	​	​	​	​	​
Non-current assets	​	$	24.5	​	$	17.9
Total	​	$	24.5	​	$	17.9
ASC-715 amounts recognized in accumulated other comprehensive income (net of income taxes of $(2.3) million and $(5.4) million in 2020 and 2019, respectively) consists of:	​	​	​	​	​	​
Net loss (gain)	​	$	3.0	​	$	7.6
Prior service cost	​		1.2	​		1.4
Total	​	$	4.2	​	$	9.0

Schedule of changes in accumulated other comprehensive income

​

​	​	​	​	​	​	​
(in millions)		2020			2019
Reconciliation of accumulated other comprehensive income:	​	​	​	​	​	​
Accumulated other comprehensive income at beginning of plan year	​	$	9.0	​	$	7.2
Net loss/(gain) amortized during the year	​		(4.1)	​		1.9
Net loss/(gain) occurring during the year	​		(0.3)	​		(0.2)
Prior service cost (credit)	​	​	—	​	​	—
Currency exchange rate adjustment	​		(0.4)	​		0.1
Net adjustment to accumulated other comprehensive income (net of income taxes of $3.1 million and $(2.2) million in 2020 and 2019, respectively)	​		(4.8)	​		1.8
Accumulated other comprehensive income at end of plan year	​	$	4.2	​	$	9.0

Summary of the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of tax

​

​	​	​	​	​	​	​
(in millions)		2020			2019
Net loss / (gain)	​	$	(4.1)	​	$	1.8
Amortization of net (loss) gain	​		(0.3)	​		(0.2)
Amortization of prior services cost (credit)	​	​	—	​	​	—
Total amortization expenses	​	$	(4.4)	​	$	1.6

Schedule of assumptions used to determine the pension obligations and other post-retirement benefits

​

​	​	​	​	​	​	​	​
Expatriate Plan		2020		2019		2018
Discount rate		1.90	%	2.85	%	3.90	%
Expected long-term rate of return on plan asset		3.50	%	4.00	%	4.00	%
Rate of increase in future compensation level		N/A	​	N/A	​	N/A	​

​

​	​	​	​	​	​	​	​
Mexican Plan(*)		2020		2019		2018
Discount rate		7.43	%	7.15	%	8.45	%
Expected long-term rate of return on plan asset		7.43	%	7.15	%	8.45	%
Rate of increase in future compensation level		4.50	%	4.50	%	4.50	%

(*)These rates are based on Mexican pesos as pension obligations are denominated in this currency.

Scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter

​

​	​	​	​
​		Expected
Years	​	Benefit Payments
​	​	(in millions)
2021	​	$	3.1
2022	​		1.7
2023	​		1.8
2024	​		2.0
2025	​		1.8
2026 to 2028	​		12.5
Total	​	$	22.9

​

Post-retirement Health care plans

Components of net periodic benefit costs

Schedule of the components of net periodic benefit costs

​

​	​	​	​	​	​	​	​	​	​
(in millions)		2020			2019			2018
Interest cost	​	$	1.3	​	$	0.9	​	$	0.9
Amortization of prior service cost/ (credit)	​		—	​		(0.2)	​		(0.2)
Net periodic benefit cost	​	$	1.3	​	$	0.7	​	$	0.7

​

Schedule of changes in the benefit obligation and plan assets, the funded status of the plans and the amount recognized in balance sheet and accumulated other comprehensive income

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in millions)		2020			2019
Change in benefit obligation:	​	​	​	​	​	​
Projected benefit obligation at beginning of year	​	$	20.6	​	$	11.9
Interest cost	​		1.3	​		0.9
Actuarial loss/ (gain)-claims cost	​		—	​		—
Benefits paid	​		(1.5)	​		(1.3)
Actuarial (gain)/loss	​		4.5	​		8.6
Inflation adjustment	​		(1.1)	​		0.5
Projected benefit obligation at end of year	​	$	23.8	​	$	20.6
Change in plan assets:	​	​	​	​	​	​
Fair value of plan assets at beginning of year	​	$	—	​	$	—
Employer contributions	​		0.1	​		0.1
Benefits paid	​		(0.1)	​		(0.1)
Fair value of plan assets at end of year	​	$	—	​	$	—
Funded status at end of year:	​	$	23.8	​	$	20.6
ASC-715 amounts recognized in statement of financial position consists of:	​	​	​	​	​	​
Current liabilities	​	$	—	​	$	(0.1)
Non-current liabilities	​		(23.8)	​		(20.5)
Total	​	$	(23.8)	​	$	(20.6)
ASC-715 amounts recognized in accumulated other comprehensive income consists of:	​	​	​	​	​	​
Net loss (gain)	​	$	4.6	​	$	1.5
Total (net of income taxes of $(1.9) million and $(0.7) million in 2020 and 2019, respectively)	​	$	4.6	​	$	1.5

​

Schedule of changes in accumulated other comprehensive income

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in millions)		2020			2019
Reconciliation of accumulated other comprehensive income:	​	​	​	​	​	​
Accumulated other comprehensive income at beginning of plan year	​	$	1.5	​	$	(4.4)
Net loss/(gain) occurring during the year	​		3.2	​		6.0
Net loss/(gain) amortized during the year	​		—	​		0.1
Currency exchange rate adjustment	​		(0.1)	​		(0.2)
Net adjustment to accumulated other comprehensive income (net of income taxes of $(1.2) million and $(2.6) million in 2020 and 2019, respectively)	​		3.1	​		5.9
Accumulated other comprehensive income at end of plan year	​	$	4.6	​	$	1.5

​

Summary of the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of tax

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in millions)		2020			2019
Net loss / (gain)	​	$	3.2	​	$	5.9
Amortization of net (loss) gain	​		—	​		0.2
Total amortization expenses	​	$	3.2	​	$	6.1

​

Schedule of assumptions used to determine the pension obligations and other post-retirement benefits

​

​	​	​	​	​	​	​	​
​		2020		2019		2018
Expatriate health plan	​	​	​	​	​	​	​
Discount rate		1.90	%	2.85	%	3.90	%
Mexican health plan	​	​	​	​	​	​	​
Weighted average discount rate		7.43	%	7.15	%	8.45	%

Scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter

​

​	​	​	​
​		Expected
Year	​	Benefit Payments
​	​	(in millions)
2021	​	$	1.5
2022	​	​	1.6
2023	​		1.5
2024	​		1.5
2025	​		1.6
2026 to 2030	​		8.6
Total	​	$	16.3

​

Mexican Health Plan | Post retirement defined benefit plans and defined contribution plan

Components of net periodic benefit costs

Schedule of asset mix of the investment portfolio

​

​	​	​	​	​	​
​		2020		2019
Asset category:	​	​	​	​	​
Treasury bills		78	%	80	%
Equity securities		22	%	20	%
​		100	%	100	%

​

Mexican Health Plan | Post-retirement Health care plans

Components of net periodic benefit costs

Schedule of effects of one percentage-point change in assumed other benefits cost trend rates

​

​	​	​	​	​	​	​
​	​	One Percentage
​	​	Point
(in millions)		Increase			Decrease
Effect on total service and interest cost components	​	$	1.9	​	$	1.5
Effect on the post-retirement benefit obligation	​	$	24.7	​	$	22.2

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