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Defined Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Obligations and Funded Status

(In millions)		Pension Benefits								Postretirement Benefits
Obligations and Funded Status at December 31		2013				2012				2013				2012
Change in the Projected Benefit Obligation (PBO):
Projected benefit obligation at beginning of year		$	722.5			$	639.5			$	73.3			$	93.9
Service cost			11.4				12.1				0.3				0.5
Interest cost			30.1				30.7				1.7				3.9
Plan amendments			—				0.4				(34.7	)			(29.8	)
Actuarial (gain) loss			(73.0	)			66.0				(0.3	)			9.9
Participants’ contributions			—				—				0.5				0.8
Benefits paid			(28.7	)			(26.2	)			(7.0	)			(6.4	)
Medicare Part D reimbursement			—				—				0.4				0.5
Projected benefit obligation at end of year		$	662.3			$	722.5			$	34.2			$	73.3
Accumulated benefit obligation at end of year (excludes the impact of future compensation increases)		$	648.5			$	703.3
Change in Plan Assets:
Fair value of plan assets at beginning of year		$	536.8			$	477.9			$	—			$	—
Actual return on plan assets			74.6				63.7				—				—
Employer contributions			1.1				21.4				6.1				5.1
Participants’ contributions			—				—				0.5				0.8
Medicare Part D reimbursement			—				—				0.4				0.5
Benefits paid			(28.7	)			(26.2	)			(7.0	)			(6.4	)
Fair value of plan assets at end of year		$	583.8			$	536.8			$	—			$	—
Funded status (Fair value of plan assets less PBO)		$	(78.5	)		$	(185.7	)		$	(34.2	)		$	(73.3	)

Amounts Recognized in Consolidated Balance Sheets

Amounts recognized in the consolidated balance sheets consist of:

		Pension Benefits								Postretirement Benefits
(In millions)		2013				2012				2013				2012
Current benefit payment liability		$	(0.8	)		$	(0.8	)		$	(3.5	)		$	(5.5	)
Accrued benefit liability			(77.7	)			(184.9	)			(30.7	)			(67.8	)
Net amount recognized		$	(78.5	)		$	(185.7	)		$	(34.2	)		$	(73.3	)

Amounts in Accumulated Other Comprehensive Income that have not yet been Recognized as Components of Net Periodic Benefit Cost

The amounts in accumulated other comprehensive income on the consolidated balance sheets that have not yet been recognized as components of net periodic benefit cost were as follows:

(In millions)		Pension Benefits				Postretirement Benefits
Net actuarial loss at December 31, 2011			63.5				6.0
Recognition of actuarial loss			(30.6	)			(11.6	)
Current year actuarial loss			39.3				9.9
Net actuarial loss at December 31, 2012		$	72.2			$	4.3
Recognition of actuarial gain			(0.9	)			(4.5	)
Current year actuarial gain			(105.6	)			(0.3	)
Net actuarial gain at December 31, 2013		$	(34.3	)		$	(0.5	)
Net prior service cost at December 31, 2011			0.5				1.0
Prior service cost (credit) recognition due to plan amendments			0.4				(29.8	)
Amortization			(0.3	)			2.6
Net prior service cost (credit) at December 31, 2012		$	0.6			$	(26.2	)
Prior service credit recognition due to plan amendments			—				(34.7	)
Amortization			(0.1	)			27.4
Net prior service cost (credit) at December 31, 2013		$	0.5			$	(33.5	)
Total at December 31, 2013		$	(33.8	)		$	(34.0	)

Components of Net Periodic Benefit Cost for Pension and Postretirement Benefits

Components of net periodic benefit cost were as follows:

Components of Net Periodic Benefit Cost		Pension Benefits												Postretirement Benefits
(In millions)		2013				2012				2011				2013				2012				2011
Service cost		$	11.4			$	12.1			$	12.9			$	0.3			$	0.5			$	0.5
Interest cost			30.1				30.7				31.0				1.7				3.9				4.4
Expected return on plan assets			(41.8	)			(36.8	)			(41.3	)			—				—				—
Recognition of actuarial losses			0.8				30.6				80.0				4.4				11.6				—
Amortization of prior service cost (credits)			0.1				0.3				0.3				(27.4	)			(2.6	)			0.4
Curtailment and settlement losses			0.1				—				1.8				0.1				—				—
Net periodic benefit cost		$	0.7			$	36.9			$	84.7			$	(20.9	)		$	13.4			$	5.3

Schedule of Assumptions Used

Assumptions		Pension Benefits						Postretirement Benefits
		2013		2012		2011		2013		2012		2011
Weighted-Average Assumptions Used to Determine Benefit Obligations at December 31:
Discount rate		5.0%		4.2%				4.3%		3.7%
Rate of compensation increase		4.0%		4.0%				—		—
Weighted-Average Assumptions Used to Determine Net Cost for Years Ended December 31:
Discount rate		4.2%		4.9%		5.8%		3.7%		4.6%		5.3%
Expected long-term rate of return on plan assets		7.8%		7.8%		8.5%		—		—		—
Rate of compensation increase		4.0%		4.0%		4.0%		—		—		—

Assumed Health Care Cost Trend Rates Used to Determine Benefit Obligations and Net Cost

		Postretirement Benefits
		2013				2012
Assumed Health Care Cost Trend Rates Used to Determine Benefit Obligations and Net Cost at December 31:
Health care cost trend rate assumed for next year			7.1/7.5	%(a)			7.5/7.0	%(a)
Rate that the cost trend rate is assumed to decline (the ultimate trend rate)			4.5	%			5.0	%
Year that the rate reaches the ultimate trend rate			2022				2017

^(a) The pre-65 initial health care cost trend rate is shown first / followed by the post-65 rate.

Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage-point change in assumed health care cost trend rates would have the following effects:

(In millions)		1-Percentage- Point Increase				1-Percentage- Point Decrease
Effect on total of service and interest cost		$	0.1			$	(0.1	)
Effect on postretirement benefit obligation			1.8				(2.0	)

Reconciliation of Level Three Measurements

A reconciliation of Level 3 measurements as of December 31, 2013 was as follows:

						Commingled Funds
(In millions)		Group annuity/ insurance contracts				Multi-strategy hedge funds				Real estate				Total
January 1, 2013		$	20.6			$	18.8			$	24.4			$	63.8
Actual return on assets related to assets still held			0.6				1.7				3.4				5.7
Purchases, sales and settlements			—				—				(5.0	)			(5.0	)
December 31, 2013		$	21.2			$	20.5			$	22.8			$	64.5

A reconciliation of Level 3 measurements as of December 31, 2012 was as follows:

						Commingled Funds
(In millions)		Group annuity/ insurance contracts				Multi-strategy hedge funds				Real estate				Total
January 1, 2012		$	20.0			$	17.5			$	21.9			$	59.4
Actual return on assets related to assets still held			0.6				1.3				2.5				4.4
December 31, 2012		$	20.6			$	18.8			$	24.4			$	63.8

Pension Assets by Major Category of Plan Assets and Type of Fair Value Measurement

Pension assets by major category of plan assets and the type of fair value measurement as of December 31, 2013 were as follows:

(In millions)		Total as of balance sheet date				Level 2 – Significant other observable inputs				Level 3 – Significant unobservable inputs
Group annuity/insurance contracts		$	21.2			$	—			$	21.2
Commingled funds:
Cash and cash equivalents			8.1				8.1				—
Equity			278.6				278.6				—
Fixed income			232.6				232.6				—
Multi-strategy hedge funds			20.5				—				20.5
Real estate			22.8				—				22.8
Total		$	583.8			$	519.3			$	64.5

Pension assets by major category of plan assets and the type of fair value measurement as of December 31, 2012 were as follows:

(In millions)		Total as of balance sheet date				Level 2 – Significant other observable inputs				Level 3 – Significant unobservable inputs
Group annuity/insurance contracts		$	20.6			$	—			$	20.6
Commingled funds:
Cash and cash equivalents			6.3				6.3				—
Equity			331.5				331.5				—
Fixed income			135.2				135.2				—
Multi-strategy hedge funds			18.8				—				18.8
Real estate			24.4				—				24.4
Total		$	536.8			$	473.0			$	63.8

Schedule of Expected Benefit Payments

The following retirement benefit payments are expected to be paid:

(In millions)		Pension Benefits				Postretirement Benefits
2014		$	32.2			$	3.4
2015			34.1				3.4
2016			36.0				3.4
2017			37.5				2.8
2018			39.0				2.8
Years 2019-2023			215.0				12.7

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