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POSTRETIREMENT BENEFIT PLANS | 9 Months Ended
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Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract] |
POSTRETIREMENT BENEFIT PLANS | POSTRETIREMENT BENEFIT PLANS The following tables provide the components of net periodic benefit cost for pension plans and other employee-related benefit plans for the three and nine months ended September 30, 2014 and 2013.
| 2014 |  | 2013
Three Months Ended September 30 | Pension |  | Other Benefits |  | Total |  | Pension |  | Other Benefits |  | Total
Service cost |  | $ | 1.2 |  |  |  |  | $ | 0.5 |  |  |  |  | $ | 1.7 |  |  |  |  | $ | 1.7 |  |  |  |  | $ | 0.7 |  |  |  |  | $ | 2.4 |  |
Interest cost |  | 3.9 |  |  |  |  | 2.0 |  |  |  |  | 5.9 |  |  |  |  | 3.7 |  |  |  |  | 2.1 |  |  |  |  | 5.8 |  |
Expected return on plan assets |  | (5.1 | ) |  |  |  | (0.2 | ) |  |  |  | (5.3 | ) |  |  |  | (4.9 | ) |  |  |  | (0.2 | ) |  |  |  | (5.1 | ) |
Amortization of prior service cost (benefit) |  | 0.1 |  |  |  |  | (1.5 | ) |  |  |  | (1.4 | ) |  |  |  | 0.2 |  |  |  |  | (0.1 | ) |  |  |  | 0.1 |  |
Amortization of net actuarial loss |  | 1.6 |  |  |  |  | 0.8 |  |  |  |  | 2.4 |  |  |  |  | 2.2 |  |  |  |  | 1.1 |  |  |  |  | 3.3 |  |
Net periodic benefit cost |  | 1.7 |  |  |  |  | 1.6 |  |  |  |  | 3.3 |  |  |  |  | 2.9 |  |  |  |  | 3.6 |  |  |  |  | 6.5 |  |
Loss from curtailment |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 0.7 |  |  |  |  | — |  |  |  |  | 0.7 |  |
Total net periodic benefit cost |  | $ | 1.7 |  |  |  |  | $ | 1.6 |  |  |  |  | $ | 3.3 |  |  |  |  | $ | 3.6 |  |  |  |  | $ | 3.6 |  |  |  |  | $ | 7.2 |  |
| 2014 |  | 2013
Nine Months Ended September 30 | Pension |  | Other Benefits |  | Total |  | Pension |  | Other Benefits |  | Total
Service cost |  | $ | 3.7 |  |  |  |  | $ | 1.4 |  |  |  |  | $ | 5.1 |  |  |  |  | $ | 5.1 |  |  |  |  | $ | 2.2 |  |  |  |  | $ | 7.3 |  |
Interest cost |  | 11.7 |  |  |  |  | 5.9 |  |  |  |  | 17.6 |  |  |  |  | 11.0 |  |  |  |  | 6.2 |  |  |  |  | 17.2 |  |
Expected return on plan assets |  | (15.5 | ) |  |  |  | (0.5 | ) |  |  |  | (16.0 | ) |  |  |  | (14.7 | ) |  |  |  | (0.5 | ) |  |  |  | (15.2 | ) |
Amortization of prior service cost (benefit) |  | 0.5 |  |  |  |  | (4.5 | ) |  |  |  | (4.0 | ) |  |  |  | 0.6 |  |  |  |  | (0.3 | ) |  |  |  | 0.3 |  |
Amortization of net actuarial loss |  | 4.7 |  |  |  |  | 2.3 |  |  |  |  | 7.0 |  |  |  |  | 6.7 |  |  |  |  | 3.3 |  |  |  |  | 10.0 |  |
Net periodic benefit cost |  | 5.1 |  |  |  |  | 4.6 |  |  |  |  | 9.7 |  |  |  |  | 8.7 |  |  |  |  | 10.9 |  |  |  |  | 19.6 |  |
Loss from curtailment |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 0.7 |  |  |  |  | — |  |  |  |  | 0.7 |  |
Total net periodic benefit cost |  | $ | 5.1 |  |  |  |  | $ | 4.6 |  |  |  |  | $ | 9.7 |  |  |  |  | $ | 9.4 |  |  |  |  | $ | 10.9 |  |  |  |  | $ | 20.3 |  |
In the third quarter of 2014, management approved and communicated changes to one of our other employee-related benefit plans, principally the reduction of certain future medical benefits. We remeasured the projected benefit obligation for the impacted plan on September 30, 2014 for this amendment resulting in a decrease of $28.8. During the third quarter of 2013, management approved changes to certain of our defined benefit pension and postretirement plans, including the merging of plans and the elimination of future benefit accruals for plan participants as of December 31, 2013. As a result, we remeasured the projected benefit obligations and plan assets for certain plans on September 30, 2013. The remeasurement resulted in a decrease to ITT's net pension liability of $4.4 and a curtailment loss of $0.7 as of and for the quarter ended September 30, 2013. During the three months ended September 30, 2014 and 2013, we made contributions to our global postretirement plans of $2.9 and $3.0, respectively. During the nine months ended September 30, 2014 and 2013, we made contributions to our global postretirement plans of $7.7 and $8.8, respectively. We do not expect to make material contributions to our global pension plans during the remainder of 2014. During the three months ended September 30, 2014 and 2013, we amortized $0.8 and $(0.4), net of tax, respectively, from accumulated other comprehensive income into earnings related to prior service cost and net actuarial loss. Similarly, during the nine months ended September 30, 2014 and 2013, we amortized $2.1 and $6.5, net of tax, into earnings, respectively. No other reclassifications from accumulated other comprehensive income into earnings were recognized during any of the presented periods.

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