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Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Change in Benefit Obligation

A reconciliation of the change in benefit obligation and the change in plan assets for the years ended December 31, 2013 and 2012, is shown below (in millions):

		Pension																Other Postretirement
		December 31, 2013								December 31, 2012								December 31, 2013								December 31, 2012
		U.S.				Foreign				U.S.				Foreign				U.S.				Foreign				U.S.				Foreign
Change in benefit obligation:
Benefit obligation at beginning of period		$	656.3			$	509.2			$	533.9			$	416.1			$	102.0			$	73.8			$	113.0			$	70.9
Service cost			2.9				10.2				3.2				9.6				0.1				1.1				0.5				1.0
Interest cost			26.2				20.7				25.4				21.0				3.6				2.0				4.4				3.2
Amendments and settlements			—				(13.8	)			—				—				—				(25.5	)			(3.2	)			(3.3	)
Actuarial (gain) loss			(79.9	)			(24.3	)			28.9				14.2				(8.4	)			(2.5	)			(6.9	)			1.5
Benefits paid			(18.8	)			(22.8	)			(22.2	)			(21.6	)			(5.7	)			(2.4	)			(5.8	)			(1.9	)
Acquisition and other			—				—				87.1				55.5				—				—				—				—
Special termination benefits			—				0.1				—				—				—				0.8				—				0.3
Translation adjustment			—				(19.8	)			—				14.4				—				(4.9	)			—				2.1
Benefit obligation at end of period		$	586.7			$	459.5			$	656.3			$	509.2			$	91.6			$	42.4			$	102.0			$	73.8

Change in Plan Assets

		Pension																Other Postretirement
		December 31, 2013								December 31, 2012								December 31, 2013								December 31, 2012
		U.S.				Foreign				U.S.				Foreign				U.S.				Foreign				U.S.				Foreign
Change in plan assets:
Fair value of plan assets at beginning of period		$	417.6			$	390.6			$	329.9			$	314.0			$	—			$	—			$	—			$	—
Acquisition and other			—				—				46.8				37.8				—				—				—				—
Actual return on plan assets			79.1				57.6				46.3				31.2				—				—				—				—
Employer contributions			25.6				27.4				16.8				18.0				5.7				2.4				5.8				1.9
Benefits paid			(18.8	)			(22.8	)			(22.2	)			(21.6	)			(5.7	)			(2.4	)			(5.8	)			(1.9	)
Settlements			—				(13.8	)			—				—				—				—				—				—
Translation adjustment			—				(22.0	)			—				11.2				—				—				—				—
Fair value of plan assets at end of period		$	503.5			$	417.0			$	417.6			$	390.6			$	—			$	—			$	—			$	—
Funded status		$	(83.2	)		$	(42.5	)		$	(238.7	)		$	(118.6	)		$	(91.6	)		$	(42.4	)		$	(102.0	)		$	(73.8	)

Amounts Recognized in Consolidated Balance Sheet

		Pension																Other Postretirement
		December 31, 2013								December 31, 2012								December 31, 2013								December 31, 2012
		U.S.				Foreign				U.S.				Foreign				U.S.				Foreign				U.S.				Foreign
Amounts recognized in the consolidated balance sheet:
Other long-term assets		$	0.3			$	62.7			$	—			$	7.2			$	—			$	—			$	—			$	—
Accrued liabilities			(2.3	)			(3.5	)			(1.7	)			(3.3	)			(6.9	)			(2.3	)			(6.8	)			(2.9	)
Other long-term liabilities			(81.2	)			(101.7	)			(237.0	)			(122.5	)			(84.7	)			(40.1	)			(95.2	)			(70.9	)

Amounts Recognized in Comprehensive Income (Loss)

Pretax amounts recognized in other comprehensive income (loss) for the years ended December 31, 2013 and 2012, are shown below (in millions):

		Pension																Other Postretirement
		December 31, 2013								December 31, 2012								December 31, 2013								December 31, 2012
		U.S.				Foreign				U.S.				Foreign				U.S.				Foreign				U.S.				Foreign
Actuarial gains (losses) recognized:
Reclassification adjustments		$	4.1			$	8.9			$	4.5			$	5.8			$	(0.1	)		$	2.9			$	(1.8	)		$	0.3
Actuarial gain (loss) arising during the period			126.6				55.9				(11.0	)			(14.3	)			8.4				2.5				6.9				(1.5	)
Prior service (cost) credit recognized:
Reclassification adjustments			—				—				—				—				—				(0.4	)			(3.2	)			(0.2	)
Prior service credit arising during the period			—				—				—				—				—				—				3.2				3.3
Translation adjustment			—				6.6				—				(3.1	)			—				0.5				—				(0.3	)
		$	130.7			$	71.4			$	(6.5	)		$	(11.6	)		$	8.3			$	5.5			$	5.1			$	1.6

Amounts Recorded in Accumulated Other Comprehensive Loss Not Yet Recognized in Net Periodic Benefit Cost

Pretax amounts recorded in accumulated other comprehensive loss not yet recognized in net periodic benefit cost as of December 31, 2013 and 2012, are shown below (in millions):

		Pension																Other Postretirement
		December 31, 2013								December 31, 2012								December 31, 2013								December 31, 2012
		U.S.				Foreign				U.S.				Foreign				U.S.				Foreign				U.S.				Foreign
Net unrecognized actuarial gain (loss)		$	(14.2	)		$	(50.1	)		$	(144.9	)		$	(121.5	)		$	4.4			$	(4.9	)		$	(3.9	)		$	(11.0	)
Prior service credit			—				—				—				—				—				2.5				—				3.1
		$	(14.2	)		$	(50.1	)		$	(144.9	)		$	(121.5	)		$	4.4			$	(2.4	)		$	(3.9	)		$	(7.9	)

Amounts Recorded in Accumulated Other Comprehensive Loss That Are Expected To Be Recognized As Components of Net Periodic Benefit Cost in Next Fiscal Year

Pretax amounts recorded in accumulated other comprehensive loss as of December 31, 2013, that are expected to be recognized as components of net periodic benefit cost in the year ending December 31, 2014, are shown below (in millions):

		Pension								Other Postretirement
		U.S.				Foreign				U.S.				Foreign
Net unrecognized actuarial gain (loss)		$	0.3			$	(1.3	)		$	0.7			$	(0.1	)
Prior service credit			—				—				—				0.4
		$	0.3			$	(1.3	)		$	0.7			$	0.3

Pension Plan Assets by Asset Category

The Company’s pension plan assets by asset category are shown below (in millions). Pension plan assets for the foreign plans relate to the Company’s pension plans in Canada and the United Kingdom.

December 31,		2013				2012
Equity securities:
Domestic plans		$	321.2			$	245.2
Foreign plans			237.4				215.9
Debt securities:
Domestic plans			114.6				118.4
Foreign plans			125.7				136.4
Alternative investments:
Domestic plans			51.0				45.1
Foreign plans			31.5				28.1
Cash and other:
Domestic plans			16.7				8.9
Foreign plans			22.4				10.2

Expected Future Benefit Payments

As of December 31, 2013, the Company’s estimate of expected benefit payments, excluding expected settlements relating to its restructuring actions, in each of the five succeeding years and in the aggregate for the five years thereafter are shown below (in millions):

		Pension								Other Postretirement
Year		U.S.				Foreign				U.S.				Foreign
2014			22.6				19.3				6.9				2.3
2015			23.7				19.0				7.0				1.4
2016			24.9				19.4				7.1				1.4
2017			25.8				20.2				7.0				1.5
2018			26.3				20.5				6.9				1.6
Five years thereafter			154.4				118.0				33.1				10.1

Information Related to Multi-Employer Pension Plans

The Company currently participates in two multi-employer pension plans, the U.A.W. Labor-Management Group Pension Plan and UNITE Here National Retirement Fund, for certain of its employees. Contributions to these plans are based on three collective bargaining agreements. Two of the agreements expire on July 1, 2016, and one expires on April 23, 2015. Detailed information related to these plans is shown below (amounts in millions):

		Pension Protection Act Zone Status								Contributions to Multiemployer Pension Plans
Employer Identification Number		December 31, 2013 Certification		December 31, 2012 Certification		FIP/RP Pending or Implemented		Surcharge		Year Ended December 31, 2013				Year Ended December 31, 2012				Year Ended December 31, 2011
516099782-001		Unavailable (1)		Unavailable (1)		No		No		$	0.4			$	0.5			$	0.5	(3)
13-6130178		Unavailable (2)		Unavailable (2)		Yes		Yes			0.2				0.1				—

(1) As of December 31, 2012, the date of the most recent plan financial statements provided, total plan assets exceeded the plan accumulated benefit obligation.

(2) As of December 31, 2011, the date of the most recent plan financial statements provided, total plan assets were less than 65% of the plan accumulated benefit obligation.

(3) Contributions made by the Company represent more than 5% of total contributions.

Benefit Obligation

Weighted Average Actuarial Assumptions Used

The weighted average actuarial assumptions used in determining the benefit obligations are shown below:

		Pension								Other Postretirement
December 31,		2013				2012				2013				2012
Discount rate:
Domestic plans			5.0	%			4.1	%			4.5	%			3.7	%
Foreign plans			4.6	%			4.3	%			5.0	%			4.4	%
Rate of compensation increase:
Foreign plans			4.1	%			4.2	%			N/A				N/A

Net Periodic Benefit Cost

Weighted Average Actuarial Assumptions Used

The weighted average actuarial assumptions used in determining the net periodic benefit cost are shown below:

For the year ended December 31,		2013				2012				2011
Pension
Discount rate:
Domestic plans			4.1	%			4.5	%			5.5	%
Foreign plans			4.3	%			4.8	%			5.2	%
Expected return on plan assets:
Domestic plans			8.0	%			8.0	%			8.0	%
Foreign plans			6.7	%			6.7	%			6.9	%
Rate of compensation increase:
Foreign plans			4.8	%			5.2	%			3.6	%
Other postretirement
Discount rate:
Domestic plans			3.7	%			4.0	%			5.0	%
Foreign plans			4.4	%			4.5	%			5.6	%

Pension Plans, Defined Benefit

Components of Net Periodic Benefit Cost

The components of the Company’s net periodic pension benefit cost are shown below (in millions):

		Year Ended December 31,
Pension		2013								2012								2011
		U.S.				Foreign				U.S				Foreign				U.S.				Foreign
Service cost		$	2.9			$	10.2			$	3.2			$	9.6			$	2.9			$	6.6
Interest cost			26.2				20.7				25.4				21.0				23.4				24.3
Expected return on plan assets			(32.4	)			(25.1	)			(28.4	)			(23.1	)			(26.2	)			(30.3	)
Amortization of actuarial loss			4.1				6.4				3.9				5.8				—				0.3
Settlement (gain) loss			—				2.5				0.6				—				(0.1	)			17.1
Net periodic benefit cost		$	0.8			$	14.7			$	4.7			$	13.3			$	—			$	18.0

Other Postretirement Benefit Plans, Defined Benefit

Components of Net Periodic Benefit Cost

The components of the Company’s net periodic other postretirement benefit cost (credit) are shown below (in millions):

		Year Ended December 31,
Other Postretirement		2013								2012								2011
		U.S.				Foreign				U.S				Foreign				U.S.				Foreign
Service cost		$	0.1			$	1.1			$	0.5			$	1.0			$	0.4			$	1.1
Interest cost			3.6				2.0				4.4				3.2				5.4				3.8
Amortization of actuarial (gain) loss			(0.1	)			0.3				0.3				0.3				0.3				0.1
Amortization of prior service credit			—				(0.4	)			—				(0.2	)			—				—
Special termination benefits			—				0.7				—				0.4				—				0.1
Settlement gain			—				(5.9	)			(5.4	)			—				—				—
Net periodic benefit cost (credit)		$	3.6			$	(2.2	)		$	(0.2	)		$	4.7			$	6.1			$	5.1

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