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Pension, Health Care and Other Postretirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2022
Retirement Benefits [Abstract] |
Summary of the Components of the Net Pension Costs and Cumulative Other Comprehensive Loss Related to the Defined Benefit Pension Plans | The following table summarizes the components of the net pension costs and AOCI related to the defined benefit pension plans:
| Domestic Defined Benefit Pension Plan |  | Foreign Defined Benefit Pension Plans
| 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Net pension cost: |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 4.6 |  |  | $ | 4.9 |  |  | $ | 4.4 |  |  | $ | 6.3 |  |  | $ | 7.4 |  |  | $ | 6.8 |
Interest cost | 3.2 |  |  | 2.7 |  |  | 3.2 |  |  | 7.3 |  |  | 5.7 |  |  | 6.9 |
Expected return on plan assets | (7.6) |  |  | (7.1) |  |  | (6.3) |  |  | (9.4) |  |  | (9.6) |  |  | (10.0) |
Amortization of prior service cost (credit) | 1.0 |  |  | 1.1 |  |  | 1.4 |  |  | (0.2) |  |  | (0.1) |  |  |
Amortization of actuarial losses |  |  |  |  |  |  | 0.2 |  |  | 1.5 |  |  | 1.0 |
Ongoing pension cost | 1.2 |  |  | 1.6 |  |  | 2.7 |  |  | 4.2 |  |  | 4.9 |  |  | 4.7 |
Settlement costs |  |  |  |  |  |  | (0.3) |  |  | 0.3 |  |  | 0.2 |
Net pension cost | 1.2 |  |  | 1.6 |  |  | 2.7 |  |  | 3.9 |  |  | 5.2 |  |  | 4.9 |
Other changes in plan assets and projected benefit obligation recognized in AOCI (before taxes): |  |  |  |  |  |  |  |  |  |  |
Net actuarial losses (gains) arising during the year | 5.0 |  |  | (10.5) |  |  | (4.5) |  |  | (29.6) |  |  | (44.9) |  |  | 7.0 |
Prior service cost (credit) arising during the year | 1.6 |  |  | 1.4 |  |  | 0.2 |  |  | (0.3) |  |  | (1.0) |  |  | (0.5) |
Amortization of actuarial losses |  |  |  |  |  |  | (0.2) |  |  | (1.5) |  |  | (1.0) |
Amortization of prior service (cost) credit | (1.0) |  |  | (1.1) |  |  | (1.4) |  |  | 0.2 |  |  | 0.1 |  |
Gain (loss) recognized for settlement |  |  |  |  |  |  | 0.3 |  |  | (0.3) |  |  | (0.2) |
Exchange rate (loss) gain recognized during the year |  |  |  |  |  |  | (0.4) |  |  | (0.6) |  |  | 1.7 |
Total recognized in AOCI | 5.6 |  |  | (10.2) |  |  | (5.7) |  |  | (30.0) |  |  | (48.2) |  |  | 7.0 |
Total recognized in net pension cost and AOCI | $ | 6.8 |  |  | $ | (8.6) |  |  | $ | (3.0) |  |  | $ | (26.1) |  |  | $ | (43.0) |  |  | $ | 11.9 |
Summary of the Fair Value of the Defined Benefit Pension Plan Assets | The following tables summarize the fair value of the defined benefit pension plan assets at December 31, 2022, 2021 and 2020. The presentation is in accordance with the Fair Value Topic of the ASC.
| Fair value at December 31, 2022 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Investments at fair value: |  |  |  |  |  |  |
Equity investments (1) | $ | 80.1 |  |  | $ | 8.5 |  |  | $ | 71.6 |  |  |
Fixed income investments (2) | 117.6 |  |  |  |  | 117.6 |  |  |
Other assets (3) | 34.4 |  |  |  |  | 34.4 |  |  |
Total investments in fair value hierarchy | 232.1 |  |  | $ | 8.5 |  |  | $ | 223.6 |  |  |
Investments measured at NAV or its equivalent (4) | 110.9 |  |  |  |  |  |  |
Total investments | $ | 343.0 |  |  |  |  |  |  |
| Fair value at December 31, 2021 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Investments at fair value: |  |  |  |  |  |  |
Equity investments (1) | $ | 133.1 |  |  | $ | 13.5 |  |  | $ | 119.6 |  |  |
Fixed income investments (2) | 172.1 |  |  |  |  | 172.1 |  |  |
Other assets (3) | 36.7 |  |  |  |  | 36.7 |  |  |
Total investments in fair value hierarchy | 341.9 |  |  | $ | 13.5 |  |  | $ | 328.4 |  |  |
Investments measured at NAV or its equivalent (4) | 141.7 |  |  |  |  |  |  |
Total investments | $ | 483.6 |  |  |  |  |  |  |
| Fair value at December 31, 2020 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Investments at fair value: |  |  |  |  |  |  |
Equity investments (1) | $ | 134.9 |  |  | $ | 13.9 |  |  | $ | 121.0 |  |  |
Fixed income investments (2) | 182.3 |  |  | 24.3 |  |  | 158.0 |  |  |
Other assets (3) | 39.2 |  |  |  |  | 39.2 |  |  |
Total investments in fair value hierarchy | 356.4 |  |  | $ | 38.2 |  |  | $ | 318.2 |  |  |
Investments measured at NAV or its equivalent (4) | 106.1 |  |  |  |  |  |  |
Total investments | $ | 462.5 |  |  |  |  |  |  |
(1) This category includes actively managed equity assets that track primarily to the S&P 500. (2) This category includes government and corporate bonds that track primarily to the Barclays Capital Aggregate Bond Index. (3) This category includes real estate and pooled investment funds. (4) This category includes pooled investment funds and private equity funds that are measured at NAV or its equivalent using the practical expedient. Therefore, these investments are not classified in the fair value hierarchy.
Summary of the Obligations, Plan Assets and Assumptions Used for Defined Benefit Pension Plans | The following table summarizes the obligations, plan assets and assumptions used for the defined benefit pension plans, which are all measured as of December 31:
| Domestic Defined Benefit Pension Plan |  | Foreign Defined Benefit Pension Plans
| 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Accumulated benefit obligations at end of year | $ | 90.3 |  |  | $ | 117.0 |  |  | $ | 114.2 |  |  | $ | 209.3 |  |  | $ | 334.8 |  |  | $ | 370.2 |
Projected benefit obligations: |  |  |  |  |  |  |  |  |  |  |
Balances at beginning of year | $ | 120.8 |  |  | $ | 118.6 |  |  | $ | 103.0 |  |  | $ | 362.7 |  |  | $ | 401.1 |  |  | $ | 360.7 |
Service cost | 4.6 |  |  | 4.9 |  |  | 4.4 |  |  | 6.3 |  |  | 7.4 |  |  | 6.8 |
Interest cost | 3.2 |  |  | 2.7 |  |  | 3.2 |  |  | 7.3 |  |  | 5.7 |  |  | 6.9 |
Actuarial (gains) losses | (32.6) |  |  | (2.8) |  |  | 11.0 |  |  | (112.4) |  |  | (26.0) |  |  | 25.3 |
Contributions and other | 1.6 |  |  | 1.4 |  |  | 0.2 |  |  | 3.2 |  |  | (4.6) |  |  | (0.1) |
Settlements |  |  |  |  |  |  | (2.4) |  |  | (1.7) |  |  | (4.3) |
Effect of foreign exchange |  |  |  |  |  |  | (28.8) |  |  | (9.8) |  |  | 16.0 |
Benefits paid | (5.9) |  |  | (4.0) |  |  | (3.2) |  |  | (5.5) |  |  | (9.4) |  |  | (10.2) |
Balances at end of year | 91.7 |  |  | 120.8 |  |  | 118.6 |  |  | 230.4 |  |  | 362.7 |  |  | 401.1 |
Plan assets: |  |  |  |  |  |  |  |  |  |  |
Balances at beginning of year | 155.2 |  |  | 144.3 |  |  | 125.9 |  |  | 328.4 |  |  | 318.2 |  |  | 288.1 |
Actual returns on plan assets | (29.9) |  |  | 14.9 |  |  | 21.6 |  |  | (73.4) |  |  | 27.9 |  |  | 28.9 |
Contributions and other |  |  |  |  |  |  | 5.8 |  |  | (1.1) |  |  | 5.9 |
Settlements |  |  |  |  |  |  | (2.4) |  |  | (1.7) |  |  | (4.3) |
Effect of foreign exchange |  |  |  |  |  |  | (29.3) |  |  | (5.5) |  |  | 9.8 |
Benefits paid | (5.9) |  |  | (4.0) |  |  | (3.2) |  |  | (5.5) |  |  | (9.4) |  |  | (10.2) |
Balances at end of year | 119.4 |  |  | 155.2 |  |  | 144.3 |  |  | 223.6 |  |  | 328.4 |  |  | 318.2 |
Excess (deficient) plan assets over projected benefit obligations | $ | 27.7 |  |  | $ | 34.4 |  |  | $ | 25.7 |  |  | $ | (6.8) |  |  | $ | (34.3) |  |  | $ | (82.9) |
Assets and liabilities recognized in the Consolidated Balance Sheets: |  |  |  |  |  |  |  |  |  |  |
Deferred pension assets | $ | 27.7 |  |  | $ | 34.4 |  |  | $ | 25.7 |  |  | $ | 51.7 |  |  | $ | 44.7 |  |  | $ | 27.4 |
Other accruals |  |  |  |  |  |  | (3.0) |  |  | (3.3) |  |  | (2.5) |
Other long-term liabilities |  |  |  |  |  |  | (55.5) |  |  | (75.7) |  |  | (107.8) |
| $ | 27.7 |  |  | $ | 34.4 |  |  | $ | 25.7 |  |  | $ | (6.8) |  |  | $ | (34.3) |  |  | $ | (82.9) |
Amounts recognized in AOCI: |  |  |  |  |  |  |  |  |  |  |
Net actuarial gains (losses) | $ | 8.0 |  |  | $ | 13.0 |  |  | $ | 2.5 |  |  | $ | 31.7 |  |  | $ | 1.9 |  |  | $ | (45.4) |
Prior service (costs) credits | (7.1) |  |  | (6.5) |  |  | (6.2) |  |  | 1.6 |  |  | 1.4 |  |  | 0.5 |
| $ | 0.9 |  |  | $ | 6.5 |  |  | $ | (3.7) |  |  | $ | 33.3 |  |  | $ | 3.3 |  |  | $ | (44.9) |
Weighted-average assumptions used to determine projected benefit obligations: |  |  |  |  |  |  |  |  |  |  |
Discount rate | 5.27 | % |  | 3.12 | % |  | 2.85 | % |  | 5.06 | % |  | 2.26 | % |  | 1.63 | %
Rate of compensation increase | 3.00 | % |  | 3.00 | % |  | 3.00 | % |  | 3.39 | % |  | 3.25 | % |  | 2.91 | %
Weighted-average assumptions used to determine net pension cost: |  |  |  |  |  |  |  |  |  |  |
Discount rate | 3.12 | % |  | 2.85 | % |  | 3.44 | % |  | 2.26 | % |  | 1.63 | % |  | 2.17 | %
Expected long-term rate of return on assets | 5.00 | % |  | 5.00 | % |  | 5.00 | % |  | 3.19 | % |  | 3.17 | % |  | 3.62 | %
Rate of compensation increase | 3.00 | % |  | 3.00 | % |  | 3.00 | % |  | 3.25 | % |  | 2.91 | % |  | 3.09 | %
Summary of the Obligation and the Assumptions Used for Postretirement Benefits Other than Pensions | The following table summarizes the obligation and the assumptions used for other postretirement benefits:
| Other Postretirement Benefits
| 2022 |  | 2021 |  | 2020
Benefit obligation: |  |  |  |  |
Balance at beginning of year - unfunded | $ | 276.4 |  |  | $ | 291.6 |  |  | $ | 280.5 |
Service cost | 1.2 |  |  | 1.4 |  |  | 1.5 |
Interest cost | 6.0 |  |  | 4.9 |  |  | 7.6 |
Actuarial (gain) loss | (54.5) |  |  | (4.1) |  |  | 19.7 |
Plan amendments | (62.8) |  |  | (2.2) |  |  | 1.0 |
Benefits paid | (12.5) |  |  | (15.2) |  |  | (18.7) |
Balance at end of year - unfunded | $ | 153.8 |  |  | $ | 276.4 |  |  | $ | 291.6 |
Liabilities recognized in the Consolidated Balance Sheets: |  |  |  |  |
Other accruals | $ | (14.5) |  |  | $ | (17.0) |  |  | $ | (16.0) |
Postretirement benefits other than pensions | (139.3) |  |  | (259.4) |  |  | (275.6) |
| $ | (153.8) |  |  | $ | (276.4) |  |  | $ | (291.6) |
Amounts recognized in AOCI: |  |  |  |  |
Net actuarial gains (losses) | $ | 4.7 |  |  | $ | (54.0) |  |  | $ | (62.8) |
Prior service credits (cost) | 64.0 |  |  | 1.6 |  |  | (0.9) |
| $ | 68.7 |  |  | $ | (52.4) |  |  | $ | (63.7) |
Weighted-average assumptions used to determine benefit obligation: |  |  |  |  |
Discount rate | 5.16 | % |  | 2.83 | % |  | 2.49 | %
Health care cost trend rate - pre-65 | 6.25 | % |  | 6.38 | % |  | 6.06 | %
Health care cost trend rate - post-65 | 5.50 | % |  | 5.13 | % |  | 5.13 | %
Prescription drug cost increases | 8.25 | % |  | 8.25 | % |  | 8.25 | %
Employer Group Waiver Plan (EGWP) trend rate | N/A |  | 8.25 | % |  | 8.25 | %
Weighted-average assumptions used to determine net periodic benefit cost: |  |  |  |  |
Discount rate | 2.83 | % |  | 2.49 | % |  | 3.22 | %
Health care cost trend rate - pre-65 | 6.38 | % |  | 6.06 | % |  | 6.38 | %
Health care cost trend rate - post-65 | 5.13 | % |  | 5.13 | % |  | 5.25 | %
Prescription drug cost increases | 8.25 | % |  | 8.25 | % |  | 9.00 | %
Summary of the Components of Net Periodic Benefit Cost and Cumulative Other Comprehensive Loss Related to Postretirement Benefits Other than Pensions | The following table summarizes the components of the net periodic benefit cost and AOCI related to postretirement benefits other than pensions:
| Other Postretirement Benefits
| 2022 |  | 2021 |  | 2020
Net periodic benefit cost: |  |  |  |  |
Service cost | $ | 1.2 |  |  | $ | 1.4 |  |  | $ | 1.5 |
Interest cost | 6.0 |  |  | 4.9 |  |  | 7.6 |
Amortization of actuarial losses | 4.2 |  |  | 4.7 |  |  | 2.0 |
Amortization of prior service (credit) cost | (0.4) |  |  | 0.3 |  |  | (1.1) |
Net periodic benefit cost | 11.0 |  |  | 11.3 |  |  | 10.0 |
Other changes in projected benefit obligation recognized in AOCI (before taxes): |  |  |  |  |
Net actuarial (gain) loss arising during the year | (54.5) |  |  | (4.1) |  |  | 19.7 |
Prior service (credit) cost arising during the year | (62.8) |  |  | (2.2) |  |  | 0.9 |
Amortization of actuarial losses | (4.2) |  |  | (4.7) |  |  | (2.0) |
Amortization of prior service credit (cost) | 0.4 |  |  | (0.3) |  |  | 1.1 |
Total recognized in AOCI | (121.1) |  |  | (11.3) |  |  | 19.7 |
Total recognized in net periodic benefit cost and AOCI | $ | (110.1) |  |  | $ | — |  |  | $ | 29.7 |
Expected Retiree Health Care Benefit Cash Payments | The Company expects to make retiree health care benefit cash payments as follows:
2023 | $ | 14.5 |
2024 | 15.0 |
2025 | 15.5 |
2026 | 15.4 |
2027 | 14.9 |
2028 through 2032 | 59.3 |
Total expected benefit cash payments | $ | 134.6 |

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- Definition Fair value of the defined benefit pension plan assets. + References No definition available. + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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