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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Plans  
Schedule of breakdown of shares held by ESOP Common shares held by the contribution savings plan follows:
(in millions)
 
December 31,
2018
 
December 31,
2017
 
December 31,
2016
Common shares held
 
1.0

 
1.1

 
1.2
Defined Benefit Plans  
Retirement Plans  
Schedule of weighted-average assumptions for benefit obligations Weighted‑average assumptions for the projected benefit obligation follows:
 
 
2018
 
2017
Discount rate
 
4.1
%
 
3.5
%
Rate of compensation increase
 
3.8
%
 
3.8
%
Schedule of weighted-average assumptions for net periodic benefit cost Weighted‑average assumptions for net periodic benefit cost follows:
 
 
2018
 
2017
 
2016
Discount rate
 
3.5
%
 
3.9
%
 
4.4
%
Rate of compensation increase
 
3.8
%
 
3.8
%
 
4.3
%
Expected long-term return on plan assets
 
6.3
%
 
6.3
%
 
6.2
%
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 change in the projected benefit obligation, plan assets and the funded status follows: 
(in millions)
 
December 31, 2018
 
December 31, 2017
Funded status
 
 
 
 
Projected benefit obligation
 
 
 
 
Beginning of year
 
$
182.8

 
$
172.5

Change in benefit obligation:
 
 

 
 

Service cost
 
3.1

 
2.6

Interest cost
 
5.5

 
5.3

Plan amendments
 
—

 
0.7

Actuarial (gain)/loss
 
(10.0
)
 
15.5

Benefits paid
 
(13.9
)
 
(13.8
)
End of year
 
$
167.5

 
$
182.8

Fair value of plan assets
 
 

 
 

Beginning of year
 
$
165.7

 
$
163.2

Change in plan assets:
 
 

 
 

Actual return on plan assets
 
(4.6
)
 
14.9

Company contributions
 
1.4

 
1.4

Benefits paid
 
(13.9
)
 
(13.8
)
End of year
 
$
148.6

 
$
165.7

 
 
 
 
 
Unfunded status end of year
 
$
(18.9
)
 
$
(17.1
)
 
 
 
 
 
Accumulated benefit obligation at end of year
 
$
167.0

 
$
181.1
Schedule of net asset (liability)
(in millions)
 
December 31, 2018
 
December 31, 2017
Long-term assets
 
$
0.7

 
$
5.2

Current liabilities
 
(1.5
)
 
(1.4
)
Long-term liabilities
 
(18.1
)
 
(20.9
)
Net pension liability
 
$
(18.9
)
 
$
(17.1
)
Schedule of amounts included in accumulated other comprehensive loss The amounts included in accumulated other comprehensive income (loss) that have not been recognized in net periodic pension cost follows:
(in millions)
 
December 31, 2018
 
December 31, 2017
Unrecognized actuarial losses (gross)
 
$
49.3

 
$
48.8

Unrecognized actuarial losses (net of tax)
 
39.6

 
38.0

Unrecognized prior service costs (gross)
 
1.0

 
1.3

Unrecognized prior service costs (net of tax)
 
0.8

 
1.1
Components of net periodic benefit cost The components of net periodic benefit cost follows:
(in millions)
 
2018
 
2017
 
2016
Service cost
 
$
3.1

 
$
2.6

 
$
3.4

Interest cost
 
5.5

 
5.3

 
5.4

Expected return on plan assets
 
(10.3
)
 
(10.2
)
 
(10.1
)
Amortization of unrecognized net loss
 
4.3

 
2.3

 
2.1

Amortization of unrecognized prior service credit
 
0.3

 
0.2

 
0.2

Net periodic benefit cost
 
$
2.9

 
$
0.2

 
$
1.0
Schedule of fair value of the plans' assets by asset category The fair value measurement of the plans’ assets by asset category follows:
 
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
(in millions)
 
December 31,
2018
 
December 31,
2017
Cash
 
$
0.6

 
$
0.6

U.S. treasury bonds
 
27.0

 
—

Mutual funds:
 
 

 
 

Equity mutual funds (1)
 
17.8

 
19.4

Fixed income mutual funds (2)
 
103.2

 
145.6

Total
 
$
148.6

 
$
165.6

 
(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 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.
Summary of estimated future benefits to be paid for the Company's defined benefit pension plans and post-retirement medical plan A summary of estimated future benefits to be paid for the Company’s defined benefit pension plans as of December 31, 2018, follows:
(in millions)
 
Estimated 
Benefit
Payments
2019
 
$
14.5

2020
 
14.9

2021
 
14.3

2022
 
14.5

2023
 
14.7

2024-2028
 
67.7