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Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2015

Retirement Plans

Schedule of breakdown of shares held by ESOP

(in millions)		2015			2014			2013
Shares held by the ESOP			1.3			1.4			1.7
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Defined Benefit Plans

Retirement Plans

Schedule of reconciliation of the beginning and ending balances of the projected pension benefit obligation, the fair value of the plan assets and the ending accumulated benefit obligation

(in millions)		2015			2014
Funded status
Projected benefit obligation
Beginning of year		$	192.3		$	179.7
Change in benefit obligation:
Service cost			3.7			4.0
Interest cost			7.1			7.7
Plan amendments			—			0.6
Actuarial (gain)/loss			(16.7	)		19.1
Benefits paid			(12.1	)		(18.8	)
​	​	​	​	​	​	​	​
End of year			174.3			192.3
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Fair value of plan assets
Beginning of year			177.3			173.5
Change in plan assets:
Actual return on plan assets			(3.5	)		21.6
Company contributions			1.0			1.0
Benefits paid			(12.1	)		(18.8	)
​	​	​	​	​	​	​	​
End of year			162.7			177.3
​	​	​	​	​	​	​	​
(Unfunded) funded status end of year		$	(11.6	)	$	(15.0	)
​	​	​	​	​	​	​	​
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Accumulated benefit obligation at end of year		$	173.5		$	191.2
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Schedule of fair value of the plans' assets by asset category

Fair Value Measurements at December 31, 2015

Asset Category (in millions)

Quoted Prices in Active Markets for Identical Assets (Level 1)

Significant Observable Inputs (Level 2)

Significant Observable Inputs (Level 3)

Total

Cash

$

0.6

$

—

$

—

$

0.6

Mutual funds:

Equity mutual funds(1)

$

19.8

$

—

$

—

$

19.8

Fixed income mutual funds(2)

142.3

—

—

142.3

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Total

$

162.7

$

—

$

—

$

162.7

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Fair Value Measurements at December 31, 2014

Asset Category (in millions)

Quoted Prices in Active Markets for Identical Assets (Level 1)

Significant Observable Inputs (Level 2)

Significant Observable Inputs (Level 3)

Total

Cash

$

0.6

$

—

$

—

$

0.6

Mutual funds:

Equity mutual funds(1)

$

21.4

$

—

$

—

$

21.4

Fixed income mutual funds(2)

155.3

—

—

155.3

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Total

$

177.3

$

—

$

—

$

177.3

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(1)	This category is comprised of investments in mutual funds that invest in equity securities such as large publicly traded companies listed in the S&P 500 Index; small to medium sized companies with market capitalization in the range of the Russell 2500 Index; and foreign issuers in emerging markets.
(2)	This category is comprised of investments in mutual funds that invest in U.S. corporate and government fixed income securities, including asset-backed securities; high yield fixed income securities primarily rated BB, B, CCC, CC, C and D; and US dollar denominated debt securities of government, government related and corporate issuers in emerging market countries.

Schedule of net asset (liability)

(in millions)		2015			2014
Noncurrent assets		$	9.7		$	7.7
Current liabilities			(1.0	)		(1.0	)
Noncurrent liabilities			(20.3	)		(21.7	)
​	​	​	​	​	​	​	​
Asset (liability) at end of year		$	(11.6	)	$	(15.0	)
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Components of net periodic benefit cost

(in millions)		2015			2014			2013
Service cost		$	3.7		$	4.0		$	5.1
Interest cost			7.1			7.7			8.1
Expected return on plan assets			(10.2	)		(10.8	)		(12.2	)
Settlement cost			—			—			8.9
Amortization of unrecognized net loss			4.1			3.3			6.5
Amortization of unrecognized prior service credit			0.2			0.3			0.3
​	​	​	​	​	​	​	​	​	​	​
Net periodic benefit cost		$	4.9		$	4.5		$	16.7
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Schedule of weighted-average assumptions for benefit obligations

		2015			2014
Discount rate			4.15	%		3.84	%
Rate of compensation increase			4.29	%		4.29	%
Expected long-term return on plan assets			6.20	%		6.30	%

Schedule of weighted-average assumptions for net periodic benefit cost

		2015			2014			2013
Discount rate			3.87	%		4.58	%		3.77	%
Rate of compensation increase			4.29	%		4.29	%		4.29	%
Expected long-term return on plan assets			6.30	%		6.48	%		6.50	%

Summary of estimated future benefits to be paid for the Company's defined benefit pension plans and post-retirement medical plan

        The following is a summary of estimated future benefits to be paid for the Company's defined benefit pension plans at December 31, 2015.

(in millions)		Estimated Benefit Payments
Year
2016		$	14.9
2017			15.5
2018			15.1
2019			14.6
2020			14.4
2021 - 2025			64.3

X

- Definition

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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.

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