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v2.4.1.9

Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract] |
Schedule of Components of Net Periodic Benefit Cost | The components of net periodic benefit cost and other amounts recognized in other comprehensive income were as follows:
| Pension benefits |  | Other retirement benefits
($ in millions) | 2014 |  | 2013 |  | 2012 |  |  | 2014 |  | 2013 |  | 2012 |
Net periodic benefit cost: |  |  |  |  |  |  |
Service cost | $ | 9.8 |  | $ | 9.7 |  | $ | 8.5 |  |  | $ | 0.4 |  | $ | 1.1 |  | $ | 1.3 |
Interest cost | 17.1 |  | 14.8 |  | 15.5 |  |  | 0.4 |  | 0.6 |  | 1.0 |
Expected return on assets | (19.3 | ) | (17.3 | ) | (16.4 | ) |  | — |  | — |  | — |
Amortization of prior service (credit) cost | (1.3 | ) | (1.3 | ) | (1.4 | ) |  | — |  | — |  | 0.1 |
Amortization of transition obligation | 0.1 |  | 0.1 |  | 0.1 |  |  | — |  | — |  | — |
Amortization of actuarial loss (gain) | 4.7 |  | 9.2 |  | 8.5 |  |  | (1.6 | ) | (0.7 | ) | — |
Net periodic benefit cost | $ | 11.1 |  | $ | 15.2 |  | $ | 14.8 |  |  | $ | (0.8 | ) | $ | 1.0 |  | $ | 2.4 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income, pre-tax: |  |  |  |  |  |  |
Net loss (gain) arising during period | $ | 31.5 |  | $ | (36.1 | ) | $ | 16.5 |  |  | $ | 0.1 |  | $ | (18.5 | ) | $ | 2.1 |
Amortization of prior service credit (cost) | 1.3 |  | 1.3 |  | 1.4 |  |  | — |  | — |  | (0.1 | )
Amortization of transition obligation | (0.1 | ) | (0.1 | ) | (0.1 | ) |  | — |  | — |  | — |
Amortization of actuarial (loss) gain | (4.7 | ) | (9.2 | ) | (8.5 | ) |  | 1.6 |  | 0.7 |  | — |
Foreign currency exchange rate changes on the above line items | (2.1 | ) | 0.6 |  | 0.8 |  |  | — |  | — |  | — |
Total recognized in other comprehensive income | $ | 25.9 |  | $ | (43.5 | ) | $ | 10.1 |  |  | $ | 1.7 |  | $ | (17.8 | ) | $ | 2.0 |
Total recognized in net periodic benefit cost and other comprehensive income | $ | 37.0 |  | $ | (28.3 | ) | $ | 24.9 |  |  | $ | 0.9 |  | $ | (16.8 | ) | $ | 4.4 |
Net periodic benefit cost by geographic location is as follows:
| Pension benefits |  | Other retirement benefits
| 2014 |  | 2013 |  | 2012 |  |  | 2014 |  | 2013 |  | 2012 |
U.S. plans | $ | 8.1 |  | $ | 11.9 |  | $ | 12.0 |  |  | $ | (0.8 | ) | $ | 1.0 |  | $ | 2.4 |
International plans | 3.0 |  | 3.3 |  | 2.8 |  |  | — |  | — |  | — |
Net periodic benefit cost | $ | 11.1 |  | $ | 15.2 |  | $ | 14.8 |  |  | $ | (0.8 | ) | $ | 1.0 |  | $ | 2.4 |
Schedule of Changes in Projected Benefit Obligation, Fair Value of Plan Assets and Funded Status | The following table presents the changes in the benefit obligation and the fair value of plan assets, as well as the funded status of the plans:
| Pension benefits |  | Other retirement benefits
($ in millions) | 2014 |  | 2013 |  |  | 2014 |  | 2013 |
Change in benefit obligation: |  |  |  |  |
Benefit obligation, January 1 | $ | (360.8 | ) | $ | (363.2 | ) |  | $ | (9.2 | ) | $ | (26.0 | )
Service cost | (9.8 | ) | (9.7 | ) |  | (0.4 | ) | (1.1 | )
Interest cost | (17.1 | ) | (14.8 | ) |  | (0.4 | ) | (0.6 | )
Participants' contributions | (0.9 | ) | (0.6 | ) |  | (0.6 | ) | (0.5 | )
Actuarial (loss) gain | (44.5 | ) | 12.9 |  |  | (0.1 | ) | 18.5 |
Benefits/expenses paid | 28.8 |  | 16.4 |  |  | 0.6 |  | 0.5 |
Foreign currency translation | 5.8 |  | (1.8 | ) |  | — |  | — |
Benefit obligation, December 31 | $ | (398.5 | ) | $ | (360.8 | ) |  | $ | (10.1 | ) | $ | (9.2 | )
Change in plan assets: |  |  |  |  |
Fair value of assets, January 1 | $ | 284.7 |  | $ | 251.0 |  |  | $ | — |  | $ | — |
Actual return on assets | 32.3 |  | 40.5 |  |  | — |  | — |
Employer contribution | 35.4 |  | 8.2 |  |  | — |  | — |
Participants' contribution | 0.9 |  | 0.6 |  |  | 0.6 |  | 0.5 |
Benefits/expenses paid | (28.8 | ) | (16.4 | ) |  | (0.6 | ) | (0.5 | )
Foreign currency translation | (2.2 | ) | 0.8 |  |  | — |  | — |
Fair value of assets, December 31 | $ | 322.3 |  | $ | 284.7 |  |  | $ | — |  | $ | — |
Funded status at end of year | $ | (76.2 | ) | $ | (76.1 | ) |  | $ | (10.1 | ) | $ | (9.2 | )
Schedule of Amounts Recognized in Balance Sheet | Amounts recognized in the balance sheet were as follows:
| Pension benefits | Other retirement benefits
($ in millions) | 2014 |  | 2013 |  | 2014 |  | 2013 |
Current liabilities | $ | (1.8 | ) | $ | (1.5 | ) | $ | (0.8 | ) | $ | (0.7 | )
Noncurrent liabilities | (74.4 | ) | (74.6 | ) | (9.3 | ) | (8.5 | )
| $ | (76.2 | ) | $ | (76.1 | ) | $ | (10.1 | ) | $ | (9.2 | )
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | The amounts in accumulated other comprehensive loss, pre-tax, consisted of:
| Pension benefits | Other retirement benefits
($ in millions) | 2014 |  | 2013 |  | 2014 |  | 2013 |
Net actuarial loss (gain) | $ | 120.1 |  | $ | 95.2 |  | $ | (13.8 | ) | $ | (15.5 | )
Transition obligation | 0.2 |  | 0.3 |  | — |  | — |
Prior service credit | (6.3 | ) | (7.4 | ) | — |  | — |
Total | $ | 114.0 |  | $ | 88.1 |  | $ | (13.8 | ) | $ | (15.5 | )
Schedule of Expected Benefit Payments | Benefit payments expected to be paid under our defined benefit pension and other retirement benefit plans in the next ten years are as follows:
($ in millions) | Domestic | International | Total
2015 | $ | 21.5 |  | $ | 1.6 |  | $ | 23.1 |
2016 | 22.9 |  | 1.6 |  | 24.5 |
2017 | 24.4 |  | 1.8 |  | 26.2 |
2018 | 24.9 |  | 2.2 |  | 27.1 |
2019 | 25.8 |  | 2.4 |  | 28.2 |
2020 to 2024 | 135.5 |  | 15.1 |  | 150.6 |
| $ | 255.0 |  | $ | 24.7 |  | $ | 279.7 |
Schedule of Assumptions Used | Weighted average assumptions used to determine net periodic benefit cost were as follows:
| Pension benefits |  | Other retirement benefits
| 2014 |  | 2013 |  | 2012 |  |  | 2014 |  | 2013 |  | 2012 |
Discount rate | 4.50 | % | 3.99 | % | 4.78 | % |  | 4.55 | % | 3.50 | % | 4.50 | %
Rate of compensation increase | 4.29 | % | 4.24 | % | 4.29 | % |  | — |  | — |  | — |
Long-term rate of return on assets | 7.01 | % | 7.12 | % | 7.37 | % |  | — |  | — |  | — |
Weighted average assumptions used to determine the benefit obligations were as follows:
| Pension benefits |  | Other retirement benefits
| 2014 |  | 2013 |  |  | 2014 |  | 2013 |
Discount rate | 3.96 | % | 4.82 | % |  | 3.90 | % | 4.55 | %
Rate of compensation increase | 4.14 | % | 4.37 | % |  | — |  | — |
Schedule of Allocation of Plan Assets | The weighted average asset allocations by asset category for our pension plans, at December 31, were as follows:
| 2014 |  | 2013 |
Equity securities | 63 | % | 66 | %
Debt securities | 35 | % | 32 | %
Other | 2 | % | 2 | %
| 100 | % | 100 | %
The following are the U.S. target asset allocations and acceptable allocation ranges:
| Target allocation | Allocation range
Equity securities | 65% | 60%-70%
Debt securities | 35% | 30%-40%
Other | —% | 0%-5%
The following tables present the fair value of our pension plan assets, utilizing the fair value hierarchy discussed in Note 10, Fair Value Measurements:
| Balance at |
| December 31, | Basis of Fair Value Measurements
($ in millions) | 2014 | Level 1 | Level 2 | Level 3
Cash | $ | 1.1 |  | $ | 1.1 |  | $ | — |  | $ | — |
Equity securities: |  |  |  |
Indexed mutual funds | 142.3 |  | 142.3 |  | — |  | — |
International mutual funds | 58.7 |  | 58.7 |  | — |  | — |
Fixed income securities: |  |  |  |
Mutual funds | 111.4 |  | 111.4 |  | — |  | — |
Insurance contract | 1.0 |  | — |  | 1.0 |  | — |
Balanced mutual fund | 7.8 |  | 7.8 |  | — |  | — |
| $ | 322.3 |  | $ | 321.3 |  | $ | 1.0 |  | $ | — |
| Balance at |
| December 31, | Basis of Fair Value Measurements
($ in millions) | 2013 | Level 1 | Level 2 | Level 3
Cash | $ | 1.0 |  | $ | 1.0 |  | $ | — |  | $ | — |
Equity securities: |  |  |  |
Indexed mutual funds | 132.6 |  | 132.6 |  | — |  | — |
International mutual funds | 55.4 |  | 55.4 |  | — |  | — |
Fixed income securities: |  |  |  |
Mutual funds | 87.4 |  | 87.4 |  | — |  | — |
Insurance contract | 1.2 |  | — |  | 1.2 |  | — |
Balanced mutual fund | 7.1 |  | 7.1 |  | — |  | — |
| $ | 284.7 |  | $ | 283.5 |  | $ | 1.2 |  | $ | — |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
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