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Pension and Other Post-Employment Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Periodic Pension Expense (Benefit)
The following table summarizes net periodic pension (benefit) expense for the U.S. and non-U.S. benefit plans:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions)202020192018202020192018
Company-sponsored plans:
Service cost$— $— $— $0.2 $0.2 $0.2 
Interest cost5.8 6.8 6.4 1.0 1.4 1.3 
Expected return on plan assets(9.2)(8.7)(8.7)(1.9)(2.0)(2.2)
Amortization of prior service costs— — — 0.1 0.1 — 
Amortization of actuarial losses3.2 2.6 3.0 0.5 0.7 0.6 
Net periodic pension (benefit) expense$(0.2)$0.7 $0.7 $(0.1)$0.4 $(0.1)
Weighted-Average Actuarial Assumptions Used to Determine Benefit Obligations And Expense
The following table summarizes the weighted-average assumptions used in determining pension costs:
 U.S. Benefit PlanNon-U.S. Benefit Plan
 202020192018202020192018
Discount rate3.5 %4.4 %3.7 %2.0 %2.8 %2.5 %
Expected long-term rate of return on plan assets7.4 %7.0 %7.0 %3.6 %4.2 %4.2 %
The following table summarizes the weighted-average assumptions used in determining benefit obligations:
 U.S. Benefit PlanNon-U.S. Benefit Plan
 2020201920202019
Discount rate2.8 %3.5 %1.3 %2.0 %
Summary of Changes in Projected Benefit Obligation
The following table summarizes the changes in the projected benefit obligation and plan assets:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions)2020201920202019
Benefit obligation, beginning of year$169.4 $161.6 $52.3 $49.8 
Service cost— — 0.2 0.2 
Interest cost5.8 6.8 1.0 1.4 
Actuarial loss15.2 10.8 5.1 2.0 
Benefits and expenses paid(10.2)(9.8)(3.0)(3.1)
Amendments (a)
— — 0.2 — 
Foreign currency translation— — 1.8 2.0 
Benefit obligation, end of year$180.2 $169.4 $57.6 $52.3 
Accumulated benefit obligation, end of year$180.2 $169.4 $57.6 $52.3 
(a)    While the non-U.S. benefit plan has not yet been amended, this component of the change to the benefit obligation of the non-U.S. benefit plan during the year ended December 31, 2020 represents the estimated incremental impact of the November 2020 U.K. High Court ruling, as described above.
Summary of Change in Plan Assets
The following summarizes the changes in the fair value of plan assets:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions)2020201920202019
Fair value of plan assets, beginning of year$131.6 $118.8 $55.2 $47.7 
Actual return on plan assets (a)
16.1 22.6 2.2 7.2 
Company contribution5.0 — 1.3 1.3 
Benefits and expenses paid(10.2)(9.8)(3.0)(3.1)
Foreign currency translation— — 1.7 2.1 
Fair value of plan assets, end of year$142.5 $131.6 $57.4 $55.2 
(a)    Actual return on plan assets of the U.S. benefit plan for the years ended December 31, 2020 and 2019, was net of fees, commissions and other expenses paid from plan assets of $2.0 million and $1.9 million, respectively
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
 20202019
(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$4.4 $— $— $4.4 $4.0 $— $— $4.0 
Equity investments:
U.S. Large Cap36.3 — — 36.3 46.1 — — 46.1 
U.S. Small and Mid Cap24.6 — — 24.6 23.8 — — 23.8 
Developed international10.2 9.5 — 19.7 7.1 5.9 — 13.0 
Emerging markets9.7 2.2 — 11.9 10.2 0.5 — 10.7 
Fixed income investments:
Government securities4.9 — — 4.9 10.5 — — 10.5 
Asset-backed securities— 3.8 — 3.8 — 13.5 — 13.5 
Corporate bonds— 31.3 — 31.3 — 9.4 — 9.4 
Mutual funds5.0 — — 5.0 — — — — 
Other investments:
Real estate0.4 — — 0.4 0.4 — — 0.4 
Total assets at fair value (a)
$95.5 $46.8 $— $142.3 $102.1 $29.3 $— $131.4 
(a)     Total assets at fair value in the table above exclude a net receivable of $0.2 million at December 31, 2020 and 2019, respectively.
 Non-U. S. Benefit Plan
 20202019
(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$0.4 $7.0 $— $7.4 $0.2 $— $— $0.2 
Diversified investment funds (a)
— 29.6 — 29.6 — 40.7 — 40.7 
Fixed income investments:
Government securities— — — — 3.8 — — 3.8 
Corporate bonds— 15.9 — 15.9 7.2 3.3 — 10.5 
Other investments:
Insurance-linked securities— — 4.5 4.5 — — — — 
Total assets at fair value$0.4 $52.5 $4.5 $57.4 $11.2 $44.0 $— $55.2 
(a)     These funds primarily invest in a diversified portfolio of equity securities and fixed income securities.
Summary of Funded Status
The following summarizes the funded status of the Company’s benefit plans:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions)2020201920202019
Fair value of plan assets, end of year$142.5 $131.6 $57.4 $55.2 
Benefit obligation, end of year180.2 169.4 57.6 52.3 
Funded status, end of year$(37.7)$(37.8)$(0.2)$2.9 
Schedule of Amounts Recognized In Consolidated Balance Sheet
The following summarizes the amounts recognized within the Company’s Consolidated Balance Sheets:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions)2020201920202019
Amounts recognized in our Consolidated Balance Sheets include:
Deferred charges and other long-term assets$— $— $— $2.9 
Long-term pension and other post-retirement benefit liabilities(37.7)(37.8)(0.2)— 
Net (liability) asset recorded$(37.7)$(37.8)$(0.2)$2.9 
Amounts recognized in Accumulated other comprehensive loss include:
Actuarial losses$81.3 $76.2 $19.6 $14.6 
Prior service costs— — 2.6 2.4 
Net amount recognized, pre-tax$81.3 $76.2 $22.2 $17.0 
Schedule of Expected Benefit Payments
The following summarizes the benefits expected to be paid under the Company’s benefit plans in each of the next five years, and in aggregate for the five years thereafter:
(in millions)U.S. Benefit PlanNon-U.S. Benefit Plan
2021$9.8 $2.7 
202210.0 2.8 
202310.1 2.7 
202410.2 2.8 
202510.7 2.7 
2026-203051.9 13.0