XML 52 R17.htm IDEA: XBRL DOCUMENT v2.4.1.9
Defined Benefit Plans
 3 Months Ended
Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Defined Benefit Plans
11. Defined Benefit Plans

The components of net periodic benefit cost for pension and postretirement benefits for the three months ended March 31, 2015 and 2014 were as follows:

 

(In millions)    Three Months Ended March 31,  
     Pension Benefits      Postretirement Benefits  
     2015      2014      2015      2014  

Service cost

    $ 3.2       $ 2.7       $  —         $ —     

Interest cost

      8.5         8.2         0.2         0.2   

Expected return on plan assets

      (10.2 )       (10.6 )       —           —     

Recognition of prior service credits

      —           —           (3.5 )       (10.6 ) 

Recognition of actuarial losses

      —           —           —           0.6   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net periodic benefit cost

 $ 1.5    $ 0.3    $ (3.3 )  $ (9.8 ) 

In the first quarter of 2014, we communicated our decision to amend certain postretirement benefits to reduce health benefits for certain current and retired employees. The impact of these changes was a reduction in accrued retiree benefit plan liabilities of $14.7 million and we recorded actuarial losses of $0.6 million and prior service credits of $3.7 million. Liability reductions from these plan amendments are recorded as amortization of prior service cost in net income in accordance with accounting requirements. See Note 10, “Accumulated Other Comprehensive Loss,” for information on the impact on accumulated other comprehensive loss.