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Pensions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items] |
Postretirement Benefits | The following table summarizes net periodic pension expense for U.S. and non-U.S. benefit plans:
| U.S. Benefit Plan |  | Non-U.S. Benefit Plan
(in millions) | 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014 |  | 2013
Company-sponsored plans: |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | 0.2 |  |  | $ | 0.2 |
Interest cost | 7.6 |  |  | 7.9 |  |  | 7.3 |  |  | 2.1 |  |  | 2.6 |  |  | 2.5 |
Expected return on plan assets | (10.3 | ) |  | (9.1 | ) |  | (8.8 | ) |  | (2.7 | ) |  | (3.6 | ) |  | (2.6 | )
Amortization of actuarial loss | 6.8 |  |  | 5.1 |  |  | 7.5 |  |  | 0.7 |  |  | 0.4 |  |  | 0.8 |
Total company-sponsored plans | 4.1 |  |  | 3.9 |  |  | 6.0 |  |  | 0.3 |  |  | (0.4 | ) |  | 0.9 |
Multi-employer plans | 0.2 |  |  | 0.2 |  |  | 0.2 |  |  | — |  |  | — |  |  | — |
Net periodic pension expense | $ | 4.3 |  |  | $ | 4.1 |  |  | $ | 6.2 |  |  | $ | 0.3 |  |  | $ | (0.4 | ) |  | $ | 0.9 |
Summary of Changes in Projected Benefit Obligation | The following table summarizes the changes in the projected benefit obligation and plan assets:
| U.S. Benefit Plan |  | Non-U.S. Benefit Plan
(in millions) | 2015 |  | 2014 |  | 2015 |  | 2014
Benefit obligation, beginning of year | $ | 186.3 |  |  | $ | 159.3 |  |  | $ | 62.7 |  |  | $ | 59.9 |
Service cost | — |  |  | — |  |  | 0.2 |  |  | 0.2 |
Interest cost | 7.6 |  |  | 7.9 |  |  | 2.1 |  |  | 2.6 |
Actuarial (gain) loss | (10.0 | ) |  | 28.6 |  |  | (2.5 | ) |  | 7.0 |
Benefits and expenses paid | (9.6 | ) |  | (9.5 | ) |  | (3.5 | ) |  | (3.1 | )
Foreign currency translation | — |  |  | — |  |  | (3.3 | ) |  | (3.9 | )
Benefit obligation, end of year | $ | 174.3 |  |  | $ | 186.3 |  |  | $ | 55.7 |  |  | $ | 62.7 |
Accumulated benefit obligation, end of year | $ | 173.5 |  |  | $ | 184.4 |  |  | $ | 55.7 |  |  | $ | 62.7 |
Summary of Change in Plan Assets | The following summarizes the changes in the fair value of plan assets:
| U.S. Benefit Plan |  | Non-U.S. Benefit Plan
(in millions) | 2015 |  | 2014 |  | 2015 |  | 2014
Fair value of plan assets, beginning of year | $ | 134.0 |  |  | $ | 129.4 |  |  | $ | 59.0 |  |  | $ | 62.4 |
Actual return on plan assets | (3.3 | ) |  | 5.9 |  |  | 0.8 |  |  | 2.2 |
Company contribution | 7.0 |  |  | 8.2 |  |  | 1.1 |  |  | 1.2 |
Benefits and expenses paid | (9.6 | ) |  | (9.5 | ) |  | (3.5 | ) |  | (3.1 | )
Foreign currency translation | — |  |  | — |  |  | (3.1 | ) |  | (3.7 | )
Fair value of plan assets, end of year | $ | 128.1 |  |  | $ | 134.0 |  |  | $ | 54.3 |  |  | $ | 59.0 |
Summary of Pension Assets in Three-Tier Fair Value Hierarchy for Benefit Plan | The following summarizes the Company’s pension assets in a three-tier fair value hierarchy for its benefit plans:
| U. S. Benefit Plan
| 2015 |  | 2014
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and cash equivalents | $ | 6.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 6.8 |  |  | $ | 2.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.5 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Large Cap | 37.7 |  |  | 0.1 |  |  | — |  |  | 37.8 |  |  | 40.1 |  |  | 0.1 |  |  | — |  |  | 40.2 |
U.S. Small and Mid Cap | 18.0 |  |  | — |  |  | — |  |  | 18.0 |  |  | 15.9 |  |  | — |  |  | — |  |  | 15.9 |
Federal Signal common stock | — |  |  | — |  |  | — |  |  | — |  |  | 3.6 |  |  | — |  |  | — |  |  | 3.6 |
Developed international | 12.8 |  |  | 6.9 |  |  | — |  |  | 19.7 |  |  | 9.9 |  |  | 4.5 |  |  | — |  |  | 14.4 |
Emerging markets | 6.9 |  |  | — |  |  | — |  |  | 6.9 |  |  | 10.7 |  |  | 0.2 |  |  | — |  |  | 10.9 |
Fixed income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government securities | 2.7 |  |  | 0.3 |  |  | — |  |  | 3.0 |  |  | 1.1 |  |  | — |  |  | — |  |  | 1.1 |
Asset-backed securities | — |  |  | 7.7 |  |  | — |  |  | 7.7 |  |  | — |  |  | 7.1 |  |  | — |  |  | 7.1 |
Corporate bonds | — |  |  | 13.1 |  |  | — |  |  | 13.1 |  |  | — |  |  | 19.2 |  |  | — |  |  | 19.2 |
Mutual funds | 0.7 |  |  | — |  |  | — |  |  | 0.7 |  |  | 1.2 |  |  | — |  |  | — |  |  | 1.2 |
Other investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds | 10.5 |  |  | — |  |  | — |  |  | 10.5 |  |  | 13.9 |  |  | — |  |  | — |  |  | 13.9 |
Real estate | 4.0 |  |  | — |  |  | — |  |  | 4.0 |  |  | 3.7 |  |  | — |  |  | — |  |  | 3.7 |
Total assets at fair value (a) | $ | 100.1 |  |  | $ | 28.1 |  |  | $ | — |  |  | $ | 128.2 |  |  | $ | 102.6 |  |  | $ | 31.1 |  |  | $ | — |  |  | $ | 133.7 |
(a) | Total assets at fair value in the table above exclude a net payable of $0.1 million and a net receivable of $0.3 million at December 31, 2015 and 2014, respectively.
| Non-U. S. Benefit Plan
| 2015 |  | 2014
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash | $ | 9.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 9.2 |  |  | $ | 11.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 11.5 |
Equity securities | 5.3 |  |  | 34.8 |  |  | — |  |  | 40.1 |  |  | 6.0 |  |  | 35.9 |  |  | — |  |  | 41.9 |
Fixed income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government securities | 2.7 |  |  | — |  |  | — |  |  | 2.7 |  |  | 2.9 |  |  | — |  |  | — |  |  | 2.9 |
Corporate bonds | 1.5 |  |  | 0.8 |  |  | — |  |  | 2.3 |  |  | 1.6 |  |  | 1.1 |  |  | — |  |  | 2.7 |
Total assets at fair value | $ | 18.7 |  |  | $ | 35.6 |  |  | $ | — |  |  | $ | 54.3 |  |  | $ | 22.0 |  |  | $ | 37.0 |  |  | $ | — |  |  | $ | 59.0 |
Funded Status | The following summarizes the funded status of the Company-sponsored plans:
| U.S. Benefit Plan |  | Non-U.S. Benefit Plan
(in millions) | 2015 |  | 2014 |  | 2015 |  | 2014
Fair value of plan assets, end of year | $ | 128.1 |  |  | $ | 134.0 |  |  | $ | 54.3 |  |  | $ | 59.0 |
Benefit obligation, end of year | 174.3 |  |  | 186.3 |  |  | 55.7 |  |  | 62.7 |
Funded status, end of year | $ | (46.2 | ) |  | $ | (52.3 | ) |  | $ | (1.4 | ) |  | $ | (3.7 | )
Components of Amounts Recognized in Accumulated Other Comprehensive Income | The following summarizes the amounts recognized within our Consolidated Balance Sheets:
| U.S. Benefit Plan |  | Non-U.S. Benefit Plan
(in millions) | 2015 |  | 2014 |  | 2015 |  | 2014
Amounts recognized in Total liabilities include: |  |  |  |  |  |  |
Long-term pension and other post-retirement benefit liabilities | $ | (46.2 | ) |  | $ | (52.3 | ) |  | $ | (1.4 | ) |  | $ | (3.7 | )
Net liability recorded | $ | (46.2 | ) |  | $ | (52.3 | ) |  | $ | (1.4 | ) |  | $ | (3.7 | )
Amounts recognized in Accumulated other comprehensive loss include: |  |  |  |  |  |  |
Net actuarial loss | $ | 78.2 |  |  | $ | 81.4 |  |  | $ | 18.7 |  |  | $ | 21.2 |
Net amount recognized, pre-tax | $ | 78.2 |  |  | $ | 81.4 |  |  | $ | 18.7 |  |  | $ | 21.2 |
Benefits Expected to be Paid under Defined Benefit Plans | The following summarizes the benefits expected to be paid under the Company’s defined benefit plans in each of the next five years, and in aggregate for the five years thereafter:
(in millions) | U.S. Benefit Plan |  | Non-U.S. Benefit Plan
2016 | $ | 8.4 |  |  | $ | 3.4 |
2017 | 9.0 |  |  | 3.5 |
2018 | 9.0 |  |  | 3.6 |
2019 | 9.2 |  |  | 3.7 |
2020 | 10.5 |  |  | 3.8 |
2021-2025 | 54.7 |  |  | 21.0 |
Pension Plans, Defined Benefit |
Defined Benefit Plan Disclosure [Line Items] |
Summary of Weighted-Average Assumptions Used | The following table summarizes the weighted-average assumptions used in determining pension costs:
| U.S. Benefit Plan |  | Non-U.S. Benefit Plan
| 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014 |  | 2013
Discount rate | 4.2 | % |  | 5.1 | % |  | 4.2 | % |  | 3.5 | % |  | 4.5 | % |  | 4.1 | %
Rate of increase in compensation levels | 3.5 | % |  | 3.5 | % |  | 3.5 | % |  | — |  |  | — |  |  | — |
Expected long-term rate of return on plan assets | 7.8 | % |  | 7.6 | % |  | 7.9 | % |  | 4.7 | % |  | 5.9 | % |  | 5.1 | %
Summary of Weighted-Average Assumptions Used | The following table summarizes the weighted-average assumptions used in determining benefit obligations:
| U.S. Benefit Plan |  | Non-U.S. Benefit Plan
| 2015 |  | 2014 |  | 2015 |  | 2014
Discount rate | 4.6 | % |  | 4.2 | % |  | 3.7 | % |  | 3.5 | %
Rate of increase in compensation levels | 3.5 | % |  | 3.5 | % |  | — |  |  | — |

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