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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Schedule of Future Payments to Participants from Defined Benefit Plans | The projected future payments to participants from defined benefit plans are as follows:
Years Ending December 31, |  | Amount |
|  | (Dollars in millions) |
2021 |  | $ | 46.4 |
2022 |  |  | 44.4 |
2023 |  |  | 42.8 |
2024 |  |  | 41.2 |
2025 |  |  | 39.0 |
Next five years |  | $ | 166.9 |
Schedule of Combined Funded Status and Net Periodic Pension Cost and Postretirement Benefits | The accompanying tables reflect the combined funded status and net periodic pension cost and combined supporting assumptions for the defined benefit elements of our defined benefit plans.
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
|  | (Dollars in millions) |
Funded Status of Defined Benefit Retirement Plans at Measurement Date |  |  |  |  |  |  |  |
Change in Projected Benefit Obligation During the Year: |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 547.2 |  |  | $ | 527.4 |
Service cost |  |  | — |  |  |  | — |
Interest cost |  |  | 12.7 |  |  |  | 18.2 |
Actuarial loss |  |  | 42.4 |  |  |  | 49.4 |
Benefits paid and plan expenses |  |  | (47.1 | ) |  |  | (47.8 | )
Projected benefit obligation at end of year |  | $ | 555.2 |  |  | $ | 547.2 |
Change in Fair Value of Plan Assets During the Year: |  |  |  |  |  |  |  |
Plan assets at fair value at beginning of year |  |  | 425.6 |  |  |  | 381.6 |
Actual return on plan assets |  |  | 73.3 |  |  |  | 72.0 |
Employer contributions |  |  | 106.9 |  |  |  | 19.8 |
Benefits paid and plan expenses |  |  | (47.1 | ) |  |  | (47.8 | )
Plan assets at fair value at end of year |  |  | 558.7 |  |  |  | 425.6 |
Funded status of plans |  | $ | 3.5 |  |  | $ | (121.6 | )
|  | December 31, |
|  | 2020 |  |  | 2019 |
|  | (Dollars in millions) |
Amounts recognized in Consolidated Balance Sheets |  |  |  |  |  |  |  |
Noncurrent asset |  | $ | 15.8 |  |  | $ | — |
Current liability |  |  | 1.5 |  |  |  | 18.7 |
Noncurrent liability |  |  | 10.8 |  |  |  | 102.9 |
Amounts recognized in Accumulated Other Comprehensive Loss |  |  |  |  |  |  |  |
Accumulated other comprehensive loss, net of tax of $51.4 million and $57.8 million, respectively (a) |  | $ | 163.3 |  |  | $ | 180.6 |
(a) | A cumulative effect adjustment of $30.8 million related to the adoption of ASC 2018-02 was recorded within accumulated other comprehensive loss, net of tax during the year ended December 31, 2019.
Schedule of Other Comprehensive (Income) Loss Related to Pension Benefit Plans and Postretirement Benefits | The other comprehensive (income) loss related to postretirement benefits was as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (Dollars in millions) |
Net actuarial gain |  | $ | — |  |  | $ | (0.7 | ) |  | $ | (2.1 | )
Amortization of net actuarial gain |  |  | 2.5 |  |  |  | 2.6 |  |  |  | 2.5 |
Tax benefit |  |  | (0.7 | ) |  |  | (0.5 | ) |  |  | — |
Other comprehensive loss, net of tax |  | $ | 1.8 |  |  | $ | 1.4 |  |  | $ | 0.4 |
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (Dollars in millions) |
Net Periodic Postretirement Benefit |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | $ | 0.3 |  |  | $ | 0.5 |  |  | $ | 0.5 |
Actuarial gain amortization |  |  | (2.2 | ) |  |  | (2.3 | ) |  |  | (2.2 | )
Prior service credit amortization |  |  | (0.3 | ) |  |  | (0.3 | ) |  |  | (0.3 | )
Net periodic postretirement benefit gain |  | $ | (2.2 | ) |  | $ | (2.1 | ) |  | $ | (2.0 | )
The assumed health care cost trend rate represents the rate at which health care costs are assumed to increase. The assumed health care cost trend rate used in measuring the benefit obligation in 2020 is 6.4% for pre-age 65 retirees and 7.1% for post-age 65 retirees. These rates are assumed to decrease gradually to the ultimate health care cost trend rate of 4.5% in 2028 for both groups.
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Assumptions Used in Calculations |  |  |  |  |  |  |  |  |  |  |  |
Weighted average discount rate used to determine net periodic postretirement cost (credit) |  |  | 2.52 | % |  |  | 3.70 | % |  |  | 3.01 | %
Weighted average discount rate used to determine benefit obligation at measurement date |  |  | 1.42 | % |  |  | 2.52 | % |  |  | 3.70 | %
Schedule of Fair Value of Defined Benefit Plan Assets | The fair values of our defined benefit plan’s assets by asset category were as follows:
|  | December 31, 2020 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (Dollars in millions) |
Investments, at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 83.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 83.5 |
Government securities |  |  | — |  |  |  | 46.7 |  |  |  | — |  |  |  | 46.7 |
Corporate debt securities |  |  | — |  |  |  | 322.4 |  |  |  | — |  |  |  | 322.4 |
Collective investment funds |  |  | — |  |  | 106.1 |  |  |  | — |  |  |  | 106.1 |
Total investments, at fair value |  | $ | 83.5 |  |  | $ | 475.2 |  |  | $ | — |  |  | $ | 558.7 |
|  | December 31, 2019 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (Dollars in millions) |
Investments, at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 17.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 17.5 |
Government securities |  |  | — |  |  |  | 137.2 |  |  |  | — |  |  |  | 137.2 |
Corporate debt securities |  |  | — |  |  |  | 19.7 |  |  |  | — |  |  |  | 19.7 |
Collective investment funds |  |  | — |  |  | 251.2 |  |  |  | — |  |  |  | 251.2 |
Total investments, at fair value |  | $ | 17.5 |  |  | $ | 408.1 |  |  | $ | — |  |  | $ | 425.6 |
Schedule Of Expected Benefit Payments And Receipts Table Text Block | The projected future postretirement benefit payments and future receipts from the federal subsidy for each of the next five years and the five-year period following are as follows:
Years Ending December 31, |  | Payments |  |  | Receipts |
|  | (Dollars in millions) |
2021 |  | $ | 2.0 |  |  | $ | — |
2022 |  |  | 1.7 |  |  |  | — |
2023 |  |  | 1.5 |  |  |  | — |
2024 |  |  | 1.4 |  |  |  | — |
2025 |  |  | 1.3 |  |  |  | — |
Next five years |  | $ | 4.4 |  |  | $ | 0.1 |
Defined Benefit Pension Plan [Member] |
Schedule of Other Comprehensive (Income) Loss Related to Pension Benefit Plans and Postretirement Benefits | The other comprehensive (income) loss related to pension benefit plans was as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (Dollars in millions) |
Net actuarial (gain) loss |  | $ | (8.0 | ) |  | $ | 1.0 |  |  | $ | 21.4 |
Amortization of net actuarial loss |  |  | (15.7 | ) |  |  | (12.7 | ) |  |  | (14.2 | )
Tax expense |  |  | 6.4 |  |  |  | 2.9 |  |  |  | — |
Other comprehensive loss (income), net of tax |  | $ | (17.3 | ) |  | $ | (8.8 | ) |  | $ | 7.2 |
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Assumptions Used in Calculations |  |  |  |  |  |  |  |  |  |  |  |
Discount rate used to determine net benefit cost |  |  | 2.81 | % |  |  | 3.92 | % |  |  | 3.25 | %
Expected return on plan assets |  |  | 5.70 | % |  |  | 6.00 | % |  |  | 6.30 | %
Discount rate used to determine benefit obligations |  |  | 1.87 | % |  |  | 2.81 | % |  |  | 3.92 | %
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (Dollars in millions) |
Net Periodic Pension Cost |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | $ | 12.7 |  |  | $ | 18.2 |  |  | $ | 16.3 |
Actuarial loss amortization |  |  | 15.7 |  |  |  | 12.7 |  |  |  | 14.2 |
Less: Expected return on plan assets |  |  | (22.9 | ) |  |  | (23.6 | ) |  |  | (25.8 | )
Net periodic pension cost |  | $ | 5.5 |  |  | $ | 7.3 |  |  | $ | 4.7 |
Other Postretirement Benefits Plan [Member] |
Schedule of Combined Funded Status and Net Periodic Pension Cost and Postretirement Benefits | The accompanying tables present the amounts and changes in the aggregate benefit obligation and the components of net periodic postretirement benefit cost for U.S. plans. We fund these costs as they become due.
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
|  | (Dollars in millions) |
Funded Status of Postretirement Health Care and Life Insurance Plans |  |  |  |  |  |  |  |
Change in Benefit Obligation: |  |  |  |  |  |  |  |
At beginning of year |  | $ | 15.4 |  |  | $ | 16.8 |
Interest cost |  |  | 0.3 |  |  |  | 0.5 |
Participant contributions |  |  | 0.3 |  |  |  | 0.4 |
Actuarial gain |  |  | — |  |  |  | (0.7 | )
Benefits paid |  |  | (1.9 | ) |  |  | (1.6 | )
At end of year |  | $ | 14.1 |  |  | $ | 15.4 |
Change in Plan Assets: |  |  |  |  |  |  |  |
At beginning of year |  | $ | — |  |  | $ | — |
Company contributions |  |  | 1.6 |  |  |  | 1.2 |
Participant contributions |  |  | 0.3 |  |  |  | 0.4 |
Benefits paid |  |  | (1.9 | ) |  |  | (1.6 | )
At end of year |  |  | — |  |  |  | — |
Funded Status |  | $ | (14.1 | ) |  | $ | (15.4 | )
|  | December 31, |
|  | 2020 |  |  | 2019 |
|  | (Dollars in millions) |
Amounts recognized in Consolidated Balance Sheets |  |  |  |  |  |  |  |
Current liability |  | $ | 1.9 |  |  | $ | 2.1 |
Noncurrent liability |  |  | 12.2 |  |  |  | 13.3 |
Amounts recognized in Accumulated Other Comprehensive Loss |  |  |  |  |  |  |  |
Accumulated other comprehensive income, net of tax of $(5.4) million and $(6.1) million, respectively (a) |  | $ | (8.6 | ) |  | $ | (10.4 | )
(a) | A cumulative effect adjustment of $3.3 million related to the adoption of ASU 2018-02 was recorded within accumulated other comprehensive income, net of tax during the year ended December 31, 2019.

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