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Postretirement Benefit Plans
 6 Months Ended
Jun. 30, 2012
Postretirement Benefit Plans [Abstract]  
POSTRETIREMENT BENEFIT PLANS POSTRETIREMENT BENEFIT PLANS

NOTE 13

POSTRETIREMENT BENEFIT PLANS

The following tables provides the components of net periodic benefit cost for pension plans and other employee-related benefit plans for the three and six month periods ended June 30, 2012 and 2011.

 

                                                 
    2012     2011  
Three Months Ended June 30   Pension     Other
Benefits		     Total     Pension     Other
Benefits		     Total  

Net periodic benefit cost

                                                

Service cost

   $ 1.6     $ 0.5     $ 2.1     $ 1.7     $ 0.5     $ 2.2  

Interest cost

     4.1       2.2       6.3       4.0       2.3       6.3  

Expected return on plan assets

     (5.0 )      (0.2 )      (5.2 )      (4.7 )      (0.1 )      (4.8 ) 

Amortization of prior service cost

     0.2       —       0.2       0.3       —       0.3  

Amortization of net actuarial loss

     1.6       1.1       2.7       0.9       0.6       1.5  
Net periodic benefit cost (income)   $ 2.5     $ 3.6     $ 6.1     $ 2.2     $ 3.3     $ 5.5  

 

                                                 
    2012     2011  
Six Months Ended June 30   Pension     Other
Benefits		     Total     Pension     Other
Benefits		     Total  

Net periodic benefit cost

                                                

Service cost

   $ 2.9     $ 1.1     $ 4.0     $ 3.3     $ 1.1     $ 4.4  

Interest cost

     7.7       4.5       12.2       8.0       4.7       12.7  

Expected return on plan assets

     (9.1 )      (0.3 )      (9.4 )      (9.4 )      (0.3 )      (9.7 ) 

Amortization of prior service cost (benefit)

     0.5       (0.1 )      0.4       0.6       (0.1 )      0.5  

Amortization of net actuarial loss

     3.1       2.1       5.2       1.7       1.2       2.9  
Net periodic benefit cost (income)   $ 5.1     $ 7.3     $ 12.4     $ 4.2     $ 6.6     $ 10.8  

 

During the six months ended June 30, 2012, we contributed $32.8 to our U.S. pension plans. We expect to make additional contributions totaling $0.5 million to our U.S. pension plans during the remainder of 2012.

In connection with the 2012 contributions, during the first quarter of 2012 we performed a remeasurement of our projected benefit obligations and plan assets for our U.S. pension plans. As a result of the remeasurement, the funded status of our U.S. pension plans improved by $41.2 and an after-tax adjustment of $8.8 was recorded to unrecognized actuarial loss included in accumulated other comprehensive income. At June 30, 2012, in the aggregate, ITT’s net postretirement liability was $293.1.