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Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation And Retirement Disclosure [Abstract]

Schedule of Components of Net Periodic Benefit Cost

The following table shows the components of our net periodic benefit cost for the three years ended December 31, for our pension plans charged to operations:

		Year Ended December 31,
(In millions)		2015				2014				2013
Net periodic benefit cost:
U.S. and international net periodic benefit    (income) cost included in cost of sales		$	(0.5	)		$	5.6			$	5.8
U.S. and international net periodic benefit cost    included in selling, general and administrative    expenses			10.7				10.6				11.2
Total benefit cost		$	10.2			$	16.2			$	17.0

The following table shows the components of our net periodic benefit cost (income) for the three years ended December 31, for our pension plans charged to operations:

		December 31,												December 31,												December 31,
		2015												2014												2013
(In millions)		U.S.				International				Total				U.S.				International				Total				U.S.				International				Total
Components of net periodic benefit    cost or (income):
Service cost		$	0.7			$	10.6			$	11.3			$	1.1			$	8.9			$	10.0			$	1.3			$	11.0			$	12.3
Interest cost			8.6				29.0				37.6				8.7				39.3				48.0				7.9				35.5				43.4
Expected return on plan assets			(11.4	)			(39.3	)			(50.7	)			(11.2	)			(42.9	)			(54.1	)			(11.1	)			(38.1	)			(49.2	)
Amortization of net prior    service cost		—					0.1				0.1				—				0.1				0.1				0.2				0.2				0.4
Amortization of net actuarial loss			1.8				8.9				10.7				0.8				9.1				9.9				2.2				7.8				10.0
Net periodic benefit cost    (income)			(0.3	)			9.3				9.0				(0.6	)			14.5				13.9				0.5				16.4				16.9
Cost (income) of    settlement/curtailment			1.6				(0.4	)			1.2				—				2.3				2.3				(0.7	)			0.8				0.1
Total benefit cost (income)		$	1.3			$	8.9			$	10.2			$	(0.6	)		$	16.8			$	16.2			$	(0.2	)		$	17.2			$	17.0

Funded Status for Pension Plans

The measurement date used to determine plan assets is December 31 for all plans:

		December 31,												December 31,
		2015												2014
(In millions)		U.S.				International				Total				U.S.				International				Total
Change in benefit obligation:
Projected benefit obligation at beginning of    period		$	221.4			$	1,148.1			$	1,369.5			$	192.2			$	1,070.4			$	1,262.6
Service cost			0.7				10.6				11.3				1.1				8.9				10.0
Interest cost			8.6				29.0				37.6				8.7				39.3				48.0
Actuarial loss (gain)			(3.5	)			15.2				11.7				31.4				186.5				217.9
Settlement/curtailment			(4.9	)			(6.5	)			(11.4	)		—					(9.6	)			(9.6	)
Benefits paid			(13.7	)			(34.5	)			(48.2	)			(12.0	)			(36.6	)			(48.6	)
Employee contributions		—					3.5				3.5			—					3.4				3.4
Other(1)			6.4				27.1				33.5			—					0.3				0.3
Foreign exchange impact		—					(88.0	)			(88.0	)		—					(114.5	)			(114.5	)
Projected benefit obligation at end of period			215.0				1,104.5				1,319.5				221.4				1,148.1				1,369.5
Change in plan assets:
Fair value of plan assets at beginning of period			181.6				862.4				1,044.0				177.4				845.8				1,023.2
Actual return on plan assets			(5.6	)			20.0				14.4				14.4				106.7				121.1
Employer contributions			0.5				28.2				28.7				2.6				33.5				36.1
Employee contributions		—					3.5				3.5			—					3.4				3.4
Benefits paid			(13.7	)			(34.5	)			(48.2	)			(12.0	)			(36.6	)			(48.6	)
Settlement/curtailment			(5.9	)			(2.3	)			(8.2	)		—					(9.6	)			(9.6	)
Other			(0.2	)			(1.9	)			(2.1	)			(0.8	)			2.6				1.8
Foreign exchange impact		—					(62.1	)			(62.1	)		—					(83.4	)			(83.4	)
Fair value of plan assets at end of period			156.7				813.3				970.0				181.6				862.4				1,044.0
Underfunded status at end of year		$	(58.3	)		$	(291.2	)		$	(349.5	)		$	(39.8	)		$	(285.7	)		$	(325.5	)
Accumulated benefit obligation at end of year		$	210.4			$	1,065.6			$	1,276.0			$	218.0			$	1,096.6			$	1,314.6

⁽¹⁾ Other changes in the benefit obligation as of December 31, 2015 included the addition of the French plans of $27.3 million which were not included in our valuation in prior years.

Amounts Included in Consolidated Balance Sheets

Amounts included in the Consolidated Balance Sheet consisted of:

		December 31,												December 31,
		2015												2014
(In millions)		U.S.				International				Total				U.S.				International				Total
Other assets		$	—			$	33.7			$	33.7			$	—			$	25.0			$	25.0
Other current liabilities		—					(4.0	)			(4.0	)		—					(4.1	)			(4.1	)
Other liabilities			(58.3	)			(319.8	)			(378.1	)			(39.8	)			(306.6	)			(346.4	)
Net amount recognized		$	(58.3	)		$	(290.1	)		$	(348.4	)		$	(39.8	)		$	(285.7	)		$	(325.5	)

Amounts in Accumulated Other Comprehensive Loss, Not Yet Recognized

The amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at December 31, 2015 and 2014 are:

		December 31,												December 31,
		2015												2014
(In millions)		U.S.				International				Total				U.S.				International				Total
Unrecognized prior service costs		$	—			$	0.1			$	0.1			$	—			$	0.5			$	0.5
Unrecognized net actuarial loss			40.9				321.2				362.1				29.7				299.1				328.8
Total		$	40.9			$	321.3			$	362.2			$	29.7			$	299.6			$	329.3

Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income)

Changes in plan assets and benefit obligations recognized in other comprehensive loss (income) at December 31, 2015 and 2014 were as follows:

		December 31,												December 31,
		2015												2014
(In millions)		U.S.				International				Total				U.S.				International				Total
Current year actuarial (gain) loss		$	14.6			$	30.2			$	44.8			$	28.3			$	119.0			$	147.3
Amortization of actuarial loss			(1.7	)			(8.9	)			(10.6	)			(0.8	)			(9.1	)			(9.9	)
Amortization of prior service cost		—					(0.1	)			(0.1	)			(0.1	)			—				(0.1	)
Settlement/curtailment (gain) loss			(1.6	)			0.4				(1.2	)			—				(2.3	)			(2.3	)
Total recognized in other comprehensive loss		$	11.3			$	21.6			$	32.9			$	27.4			$	107.6			$	135.0

Amounts in Accumulated Other Comprehensive Loss Expected to be Recognized in Next Fiscal Year

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the year ended December 31, 2016 are as follows:

		Year ended
		2015
(In millions)		U.S.				International				Total
Unrecognized prior service costs		$	—			$	0.2			$	0.2
Unrecognized net actuarial loss			1.9				8.9				10.8
Total		$	1.9			$	9.1			$	11.0

Information for Plans with Accumulated Benefit Obligations in Excess of Plan Assets

Information for plans with accumulated benefit obligations in excess of plan assets as of December 31, 2015 and 2014 are as follows:

		December 31,												December 31,
		2015												2014
(In millions)		U.S.				International				Total				U.S.				International				Total
Accumulated benefit obligation		$	210.4			$	751.4			$	961.8			$	218.0			$	908.3			$	1,126.3
Fair value of plan assets			156.7				458.3				615.0				181.6				643.8				825.4

Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted average assumptions used to determine benefit obligations at December 31, 2015 and 2014 were as follows:

		December 31,								December 31,
		2015								2014
(In millions)		U.S.				International				U.S.				International
Benefit obligations
Discount rate			4.3	%			2.6	%			3.9	%			2.7	%
Rate of compensation increase			3.0	%			2.5	%			3.0	%			2.7	%

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost

Weighted average assumptions used to determine net periodic benefit cost for the three years ended December 31, were as follows:

		December 31,								December 31,								December 31,
		2015								2014								2013
(In millions)		U.S.				International				U.S.				International				U.S.				International
Net periodic benefit cost
Discount rate			3.9	%			2.7	%			4.6	%			3.8	%			3.8	%			3.7	%
Expected long-term rate of return			6.5	%			4.9	%			6.5	%			5.2	%			6.5	%			5.0	%
Rate of compensation increase			3.0	%			2.7	%			3.0	%			2.9	%			3.5	%			2.8	%

Estimated Future Benefit Payments

We expect the following estimated future benefit payments, which reflect expected future service as appropriate, to be paid in the years indicated:

		Amount
(In millions)		U.S.				International				Total
Year
2016		$	14.4			$	33.8			$	48.2
2017			13.8				32.7				46.5
2018			14.5				33.7				48.2
2019			14.3				34.9				49.2
2020			13.4				36.4				49.8
Thereafter			69.0				207.9				276.9
Total		$	139.4			$	379.4			$	518.8

Fair Values of Pension Plan Assets, by Asset Category and Level of Fair Values

The fair values of our U.S. and international pension plan assets, by asset category and by the level of fair values are as follows:

		2015																2014
		Total																Total
(In millions)		Fair Value				Level 1				Level 2				Level 3				Fair Value				Level 1				Level 2				Level 3
Cash and cash equivalents(1)		$	6.3			$	2.1			$	4.2			$	—			$	9.6			$	4.8			$	4.8			$	—
Fixed income funds(2)			440.8			—					440.8			—					495.2				—				495.2				—
Equity funds(3)			380.0			—					380.0			—					392.8				—				392.8				—
Other(4)			142.9			—					26.0				116.9				146.4				—				23.2				123.2
Total		$	970.0			$	2.1			$	851.0			$	116.9			$	1,044.0			$	4.8			$	916.0			$	123.2

⁽¹⁾ Short-term investment fund that invests in a collective trust that holds short-term highly liquid investments with principal preservation and daily liquidity as its primary objectives. Investments are primarily comprised of certificates of deposit, government securities, commercial paper, and time deposits.

⁽²⁾ Fixed income funds that invest in a diversified portfolio primarily consisting of publicly traded government bonds and corporate bonds. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end.

⁽³⁾ Equity funds that invest in a diversified portfolio of publicly traded domestic and international common stock, with an emphasis in European equities. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end.

⁽⁴⁾ The majority of these assets are invested in real estate funds and other alternative investments. Also includes guaranteed insurance contracts, which consists of Company and employee contributions and accumulated interest income at guaranteed stated interest rates and provides for benefit payments and plan expenses.

Reconciliation of Plan Asset Measured Using Level 3 Inputs

The following table shows the activity of our U.S. and international plan assets, which are measured at fair value using Level 3 inputs.

		December 31,				December 31,
(In millions)		2015				2014
Balance at beginning of period		$	123.2			$	87.5
Gains on assets still held at end of year			6.1				5.3
Purchases, sales, issuance, and settlements			(1.1	)			10.5
Transfers in and/or out of Level 3			(4.9	)			31.3
Foreign exchange (loss)/gain			(6.4	)			(11.4	)
Balance at end of period		$	116.9			$	123.2

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