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Pension and Postretirement Health and Life Benefits | 9 Months Ended
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Sep. 30, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract] |
Pension and Postretirement Health and Life Benefits | PENSION AND POSTRETIREMENT HEALTH AND LIFE BENEFITS The components of net periodic benefit cost (credit) for the pension plans were as follows (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Service costs | $ | 1.0 |  |  | $ | 1.1 |  |  | $ | 2.9 |  |  | $ | 3.1 |
Interest costs | 8.9 |  |  | 9.2 |  |  | 26.6 |  |  | 27.8 |
Expected return on plan assets (gains) | (10.6 | ) |  | (12.2 | ) |  | (31.6 | ) |  | (36.6 | )
Actuarial loss (gain) from remeasurement, net | — |  |  | 24.8 |  |  | 0.8 |  |  | 20.9 |
Net periodic benefit cost (credit) | $ | (0.7 | ) |  | $ | 22.9 |  |  | $ | (1.3 | ) |  | $ | 15.2 |
In the second quarter of 2016, the level of lump-sum payments under the Company’s non-qualified defined benefit pension plans resulted in the remeasurement of pension obligations under settlement accounting rules. The remeasurement resulted in a loss of $0.8 million included in selling, general and administrative expenses in the second quarter of 2016. The loss includes the effect of a decrease in the discount rate used in the measurement of pension obligations from approximately 4.5% as of December 31, 2015, to approximately 3.7% as of June 30, 2016. In the second quarter of 2015, the level of lump-sum payments under the Company’s non-qualified defined benefit pension plans and the Employees’ Retirement Plan of Centrus Energy Corp. resulted in a remeasurement gain of $3.9 million included in selling, general and administrative expenses. The gain included the effect of an increase in the discount rate from approximately 4.1% as of December 31, 2014, to approximately 4.5% as of June 30, 2015. In the third quarter of 2015, the level of lump-sum payments under the Retirement Program Plan for Employees of United States Enrichment Corporation and the plans mentioned above resulted in a remeasurement loss of $21.6 million included in cost of sales and a loss of $3.2 million included in selling, general and administrative expenses. The discount rate used in the measurement of pension obligations as of September 30, 2015 was approximately 4.4%. The losses also include the effect of actual investment experience for pension plan assets relative to the expected return assumption of 6.75% per year. The components of net periodic benefit cost for the postretirement health and life benefit plans were as follows (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Service costs | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.2 |
Interest costs | 2.1 |  |  | 2.2 |  |  | 6.1 |  |  | 6.6 |
Expected return on plan assets (gains) | (0.1 | ) |  | (0.2 | ) |  | (0.2 | ) |  | (0.7 | )
Amortization of prior service (credits), net | (0.1 | ) |  | (0.1 | ) |  | (0.2 | ) |  | (0.2 | )
Net periodic benefit cost | $ | 1.9 |  |  | $ | 2.0 |  |  | $ | 5.7 |  |  | $ | 5.9 |

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