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Defined Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2017
Obligations and Funded Status |
(In millions) |  | Pension Benefits |  |  | Postretirement Benefits |
Obligations and Funded Status at December 31 |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Change in the Projected Benefit Obligation (PBO): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 791.7 |  |  | $ | 767.7 |  |  | $ | 3.6 |  |  | $ | 15.6 |
Service cost |  |  | 0.6 |  |  |  | 9.6 |  |  |  | — |  |  |  | — |
Interest cost |  |  | 33.3 |  |  |  | 34.4 |  |  |  | — |  |  |  | 0.3 |
Plan amendments |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | (12.3 | )
Actuarial loss (gain) |  |  | 40.6 |  |  |  | 11.7 |  |  |  | (1.4 | ) |  |  | 1.6 |
Benefits paid |  |  | (33.8 | ) |  |  | (31.8 | ) |  |  | (0.4 | ) |  |  | (1.6 | )
Foreign exchange |  |  | — |  |  |  | — |  |  |  | (0.2 | ) |  |  | — |
Projected benefit obligation at end of year |  | $ | 832.4 |  |  | $ | 791.7 |  |  | $ | 1.6 |  |  | $ | 3.6 |
Accumulated benefit obligation at end of year (excludes the impact of future compensation increases) |  | $ | 832.4 |  |  | $ | 791.7 |  |  |  |  |  |  |  |  |
Change in Plan Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 577.7 |  |  | $ | 561.9 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets |  |  | 83.2 |  |  |  | 46.6 |  |  |  | — |  |  |  | — |
Employer contributions |  |  | 29.5 |  |  |  | 1.0 |  |  |  | 0.5 |  |  |  | 1.5 |
Benefits paid |  |  | (33.8 | ) |  |  | (31.8 | ) |  |  | (0.5 | ) |  |  | (1.5 | )
Fair value of plan assets at end of year |  | $ | 656.6 |  |  | $ | 577.7 |  |  | $ | — |  |  | $ | — |
Funded status (Fair value of plan assets less PBO) |  | $ | (175.8 | ) |  | $ | (214.0 | ) |  | $ | (1.6 | ) |  | $ | (3.6 | )
Amounts Recognized in Consolidated Balance Sheets | Amounts recognized in the consolidated balance sheets consist of:
|  | Pension Benefits |  |  | Postretirement Benefits |
(In millions) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Current benefit payment liability |  | $ | (1.1 | ) |  | $ | (1.0 | ) |  | $ | (0.2 | ) |  | $ | (0.4 | )
Accrued benefit liability |  |  | (174.7 | ) |  |  | (213.0 | ) |  |  | (1.4 | ) |  |  | (3.2 | )
Net amount recognized |  | $ | (175.8 | ) |  | $ | (214.0 | ) |  | $ | (1.6 | ) |  | $ | (3.6 | )
Amounts in Accumulated Other Comprehensive Loss that have not yet been Recognized as Components of Net Periodic Benefit Cost | The amounts in accumulated other comprehensive loss 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, 2015 |  | $ | 71.1 |  |  | $ | 0.3 |
Recognition of actuarial loss |  |  | — |  |  |  | (1.9 | )
Current year actuarial loss |  |  | 2.3 |  |  |  | 1.6 |
Net actuarial loss at December 31, 2016 |  | $ | 73.4 |  |  | $ | — |
Recognition of actuarial (loss) gain |  |  | (0.9 | ) |  |  | 1.4 |
Current year actuarial gain |  |  | (5.3 | ) |  |  | (1.4 | )
Net actuarial loss at December 31, 2017 |  | $ | 67.2 |  |  | $ | — |
Net prior service cost (credit) at December 31, 2015 |  | $ | 0.1 |  |  | $ | (6.4 | )
Prior service cost recognition due to plan amendments |  |  | — |  |  |  | (12.2 | )
Amortization |  |  | — |  |  |  | 13.5 |
Prior service cost recognition due to curtailment |  |  | (0.1 | ) |  |  | — |
Net prior service cost (credit) at December 31, 2016 |  | $ | — |  |  | $ | (5.1 | )
Amortization |  |  | — |  |  |  | 5.1 |
Net prior service cost (credit) at December 31, 2017 |  | $ | — |  |  | $ | — |
Total at December 31, 2017 |  | $ | 67.2 |  |  | $ | — |
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 (Income) Cost |  | Pension Benefits |  |  | Postretirement Benefits |
(In millions) |  | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Service cost |  | $ | 0.6 |  |  | $ | 9.6 |  |  | $ | 11.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |
Interest cost |  |  | 33.3 |  |  |  | 34.4 |  |  |  | 33.7 |  |  |  | — |  |  |  | 0.3 |  |  |  | 0.6 |
Expected return on plan assets |  |  | (37.3 | ) |  |  | (37.2 | ) |  |  | (40.2 | ) |  |  | — |  |  |  | — |  |  |  | — |
Recognition of actuarial losses (gains) |  |  | 0.9 |  |  |  | — |  |  |  | 2.9 |  |  |  | (1.4 | ) |  |  | 1.9 |  |  |  | (0.4 | )
Amortization of prior service cost (credits) |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | (5.1 | ) |  |  | (13.5 | ) |  |  | (13.5 | )
Net periodic benefit (income) cost |  | $ | (2.5 | ) |  | $ | 6.8 |  |  | $ | 8.0 |  |  | $ | (6.5 | ) |  | $ | (11.3 | ) |  | $ | (13.2 | )
Schedule of Assumptions Used |
Assumptions |  | Pension Benefits |  | Postretirement Benefits
|  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015
Weighted-Average Assumptions Used to Determine Benefit Obligations at December 31: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  | 3.8% |  | 4.3% |  | 4.6% |  | 3.4% |  | 3.4% |  | 4.1%
Rate of compensation increase |  | — |  | 4.0% |  | 4.0% |  | — |  | — |  | —
Weighted-Average Assumptions Used to Determine Net Cost for Years Ended December 31: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  | 4.3% |  | 4.6% |  | 4.2% |  | 3.4% |  | 4.1% |  | 3.5%
Expected long-term rate of return on plan assets |  | 6.4% |  | 6.6% |  | 6.8% |  | — |  | — |  | —
Rate of compensation increase |  | — |  | 4.0% |  | 4.0% |  | — |  | — |  | —
Assumed Health Care Cost Trend Rates Used to Determine Benefit Obligations and Net Cost |
|  | Postretirement Benefits |
|  | 2017 |  |  | 2016 |
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 |  |  | 7.1/8.4 | %(a) |  |  | 7.3/8.2 | %(a)
Rate that the cost trend rate is assumed to decline (the ultimate trend rate) |  |  | 4.5 | % |  |  | 4.5 | %
Year that the rate reaches the ultimate trend rate |  |  | 2026 |  |  |  | 2025 |
(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 had the following effects in 2017:
(In millions) |  | 1-Percentage- Point Increase |  |  | 1-Percentage- Point Decrease |
Effect on postretirement benefit obligation |  |  | (0.1 | ) |  |  | 0.1 |
Fair Value of Pension Assets by Major Category of Plan Assets | The fair value of the pension assets by major category of plan assets as of December 31, 2017 and 2016 were as follows:
(In millions) |  | Total as of balance sheet date |
|  | 2017 |  |  | 2016 |
Group annuity/insurance contracts (level 3) |  | $ | 23.3 |  |  | $ | 22.8 |
Collective trusts: |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 12.5 |  |  |  | 6.9 |
Equity |  |  | 285.9 |  |  |  | 258.8 |
Fixed income |  |  | 277.7 |  |  |  | 235.4 |
Multi-strategy hedge funds |  |  | 24.6 |  |  |  | 23.1 |
Real estate |  |  | 32.6 |  |  |  | 30.7 |
Total |  | $ | 656.6 |  |  | $ | 577.7 |
Reconciliation of Level Three Measurements | A reconciliation of Level 3 measurements was as follows:
|  | Group annuity/ insurance contracts |
(In millions) |  | 2017 |  |  | 2016 |
January 1 |  | $ | 22.8 |  |  | $ | 22.3 |
Actual return on assets related to assets still held |  |  | 0.5 |  |  |  | 0.5 |
December 31 |  | $ | 23.3 |  |  | $ | 22.8 |
Schedule of Expected Benefit Payments | The following retirement benefit payments are expected to be paid:
(In millions) |  | Pension Benefits |  |  | Postretirement Benefits |
2018 |  | $ | 37.4 |  |  | $ | 0.1 |
2019 |  |  | 39.1 |  |  |  | 0.1 |
2020 |  |  | 40.4 |  |  |  | 0.1 |
2021 |  |  | 41.6 |  |  |  | 0.1 |
2022 |  |  | 43.1 |  |  |  | 0.1 |
Years 2023-2027 |  |  | 229.9 |  |  |  | 0.3 |

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