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Defined Benefit Plans
3 Months Ended
Mar. 31, 2018
Defined Benefit Plans
12. Defined Benefit Plans

The components of net periodic benefit cost for pension and postretirement benefits for the three months ended March 31, 2018 and 2017 were as follows:

 

(In millions)    Three Months Ended March 31,  
     Pension Benefits      Postretirement Benefits  
     2018      2017      2018      2017  
Service cost    $ 0.2      $ 0.1      $ —        $ —    
Interest cost      7.6        8.4        —          —    
Expected return on plan assets      (10.3      (9.3      —          —    

Recognition of prior service credits

     —          —          —          (3.0
  

 

 

    

 

 

    

 

 

    

 

 

 

Net periodic benefit income

   $ (2.5    $ (0.8    $ —        $ (3.0

Service cost for 2018 relates to benefit accruals in an hourly Union defined benefit plan in our Security segment. All other defined benefit pension plans were frozen as of December 31, 2016.

In March 2017, the FASB issued ASU 2017-07, which requires entities to present the defined benefit plan non-service related costs outside the operating income subtotal. The new guidance was applied retrospectively in the condensed consolidated statement of comprehensive income. As a result, we reclassified $3.9 million of income from the operating income subtotal to the other income, net subtotal. The retrospective impact of adopting ASU 2017-07 on the three months ended March 31, 2017 was as follows:

 

(In millions)       
     Three Months Ended
March 31,
 
     2017  

Increase/(decrease) to cost of products sold

   $ 2.9  

Increase/(decrease) to selling, general and administrative expenses

     1.0  
  

 

 

 

Increase/(decrease) to operating income

   $ (3.9