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Postretirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2012
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] |
Schedule of Net Pension and Other Benefit Costs | Costs. Pension and other postretirement benefit costs included the following components for 2012, 2011 and 2010:
| Pension Benefits |  | Other Postretirement Benefits
(in millions) | 2012 |  | 2011 |  | 2010 |  | 2012 |  | 2011 |  | 2010
Service cost | $ | 0.2 |  |  | $ | 1.1 |  |  | $ | 1.1 |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | 0.4 |
Interest cost | 57.7 |  |  | 62.4 |  |  | 64.8 |  |  | 2.4 |  |  | 3.2 |  |  | 3.9 |
Expected return on plan assets | (55.2 | ) |  | (53.3 | ) |  | (49.5 | ) |  | — |  |  | — |  |  | — |
Amortization of prior service costs (credits) | — |  |  | 0.4 |  |  | 0.4 |  |  | (6.3 | ) |  | (5.2 | ) |  | (3.9 | )
Amortization of net actuarial losses | 21.9 |  |  | 21.3 |  |  | 22.2 |  |  | 0.7 |  |  | 1.0 |  |  | — |
Curtailment loss | 0.1 |  |  | 0.3 |  |  | 0.1 |  |  | — |  |  | — |  |  | — |
Net pension and other benefit costs | $ | 24.7 |  |  | $ | 32.2 |  |  | $ | 39.1 |  |  | $ | (3.2 | ) |  | $ | (0.8 | ) |  | $ | 0.4 |
Reconciliation of the Changes in Plans Benefit Obligations, Fair Value of Plan Assets, and Statement of Funded Status | A reconciliation of the changes in the benefit obligations and fair value of assets over the two-year period ending December 31, 2012, and a statement of the funded status at December 31 for these years for the Company's pension and other postretirement benefit plans follow:
| Pension Benefits |  | Other Postretirement Benefits
(in millions) | 2012 |  | 2011 |  | 2012 |  | 2011
Reconciliation of benefit obligation: |  |  |  |  |  |  |
Benefit obligation at previous December 31 | $ | 1,319.3 |  |  | $ | 1,214.2 |  |  | $ | 69.9 |  |  | $ | 77.8 |
Service cost | 0.2 |  |  | 1.1 |  |  | — |  |  | 0.2 |
Interest cost | 57.7 |  |  | 62.4 |  |  | 2.4 |  |  | 3.2 |
Participant contributions | — |  |  | — |  |  | 1.3 |  |  | 1.7 |
Actuarial losses (gains) | 84.5 |  |  | 113.1 |  |  | (5.5 | ) |  | 2.8 |
Benefit payments | (73.7 | ) |  | (71.5 | ) |  | (9.9 | ) |  | (9.7 | )
Plan amendments | — |  |  | — |  |  | (0.2 | ) |  | (6.1 | )
Benefit obligation at December 31 | 1,388.0 |  |  | 1,319.3 |  |  | 58.0 |  |  | 69.9 |
Reconciliation of fair value of plan assets: |  |  |  |  |  |  |
Fair value of plan assets at previous December 31 | 795.7 |  |  | 740.4 |  |  | — |  |  | — |
Actual return on plan assets | 107.6 |  |  | 47.2 |  |  | — |  |  | — |
Employer contributions | 69.0 |  |  | 79.6 |  |  | 8.6 |  |  | 8.0 |
Participant contributions | — |  |  | — |  |  | 1.3 |  |  | 1.7 |
Benefit payments | (73.7 | ) |  | (71.5 | ) |  | (9.9 | ) |  | (9.7 | )
Fair value of plan assets at December 31 | 898.6 |  |  | 795.7 |  |  | — |  |  | — |
Funded status at December 31 | $ | (489.4 | ) |  | $ | (523.6 | ) |  | $ | (58.0 | ) |  | $ | (69.9 | )
Schedule of Amounts Recognized in Consolidated Balance Sheet | The amounts included in the Company's Consolidated Balance Sheets as of December 31, 2012 and 2011, were as follows:
| Pension Benefits |  | Other Postretirement Benefits
(in millions) | 2012 |  | 2011 |  | 2012 |  | 2011
Accrued expenses | $ | 4.0 |  |  | $ | 4.0 |  |  | $ | 7.1 |  |  | $ | 9.2 |
Postretirement benefit liabilities | 485.4 |  |  | 519.6 |  |  | 50.9 |  |  | 60.7 |
Net amount recognized | $ | 489.4 |  |  | $ | 523.6 |  |  | $ | 58.0 |  |  | $ | 69.9 |
Schedule of Projected and Accumulated Benefit Obligation and Fair Value of Plan Assets | The projected and accumulated benefit obligations and fair value of plan assets for the Company's qualified and nonqualified pension plans at December 31 were as follows:
(in millions) | 2012 |  | 2011
Projected benefit obligation | $ | 1,388.0 |  |  | $ | 1,319.3 |
Accumulated benefit obligation | $ | 1,388.0 |  |  | $ | 1,319.3 |
Fair value of plan assets | $ | 898.6 |  |  | $ | 795.7 |
Funded status | 65 | % |  | 60 | %
Activity Recorded in Accumulated Other Comprehensive Income or Loss | The following pretax activity related to pensions and other postretirement benefits was recorded in Accumulated other comprehensive income (loss) as of December 31:
| Pension Benefits |  | Other Postretirement Benefits
(in millions) | 2012 |  | 2011 |  | 2012 |  | 2011
Prior service costs (credits) |  |  |  |  |  |  |
Beginning balance | $ | 0.1 |  |  | $ | 0.8 |  |  | $ | (24.3 | ) |  | $ | (23.4 | )
Prior service costs (credits) arising during the period | — |  |  | — |  |  | (0.2 | ) |  | (6.1 | )
Amount recognized as component of net benefit costs | (0.1 | ) |  | (0.7 | ) |  | 6.3 |  |  | 5.2 |
Ending balance | — |  |  | 0.1 |  |  | (18.2 | ) |  | (24.3 | )
Net actuarial losses |  |  |  |  |  |  |
Beginning balance | 591.9 |  |  | 494.1 |  |  | 15.0 |  |  | 13.2 |
Actuarial losses (gains) arising during the period | 32.1 |  |  | 119.1 |  |  | (5.5 | ) |  | 2.8 |
Amount recognized as component of net benefit costs | (21.9 | ) |  | (21.3 | ) |  | (0.7 | ) |  | (1.0 | )
Ending balance | 602.1 |  |  | 591.9 |  |  | 8.8 |  |  | 15.0 |
Total | $ | 602.1 |  |  | $ | 592.0 |  |  | $ | (9.4 | ) |  | $ | (9.3 | )
Assumed Health Care Cost Trend Rates | The assumed health care cost trend rate for other postretirement benefits for pre-age 65 benefits as of December 31 was as follows:
| Pre-age 65 Benefits
| 2012 |  | 2011
Health care cost trend rate for next year | 7.5 | % |  | 7.6 | %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 4.5 | % |  | 4.5 | %
Year rate reaches the ultimate trend rate | 2028 |  |  | 2028 |
Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | A one percent change in the assumed health care trend rate at December 31, 2012, would have the following effects:
(in millions) | One Percent Increase |  | One Percent Decrease
Effect on total service and interest cost | $ | — |  |  | $ | — |
Effect on accumulated postretirement benefit obligation | $ | 0.5 |  |  | $ | (0.5 | )
Weighted-average assumptions used to determine benefit obligations and net pension and other postretirement benefit costs | Weighted average assumptions used to determine pension and other postretirement benefit obligations at December 31 were as follows:
| Pension Benefits |  | Other Postretirement Benefits
| 2012 |  | 2011 |  | 2012 |  | 2011
Discount rate | 4.00 | % |  | 4.50 | % |  | 3.60 | % |  | 4.20 | %
Rate of compensation increase(A) | — |  |  | — |  |  | — |  |  | — |
(A) Assumption used in determining pension benefit obligation only. The rate of compensation increase was reduced to 0.00% at December 31, 2008, as a result of the decision to freeze future benefit accruals for those plans where benefits are based on average compensation. Weighted average assumptions used to determine net pension and other postretirement benefit costs for the years ended December 31 were as follows:
| 2012 |  | 2011 |  | 2010
Discount rate for pension benefits(A) | 4.50% |  | 5.20%-5.30% |  | 5.85%
Discount rate for other postretirement benefits(A) | 4.20% |  | 4.65%-4.80% |  | 5.45%
Long-term rate of return on plan assets(B) | 7.00% |  | 7.25% |  | 7.50%
Rate of compensation increase(B) | — |  | — |  | —
(A) Range of discount rates in 2011 reflects the remeasurements of pension and postretirement benefit costs during the year due to negative plan amendments and curtailments recognized. (B) Assumption used in determining pension benefit cost only.
Schedule of Allocation of Plan Assets | The Trust asset allocation at December 31, 2012 and 2011, and target allocations for December 31, 2012 were as follows:
| 2012 |  | 2011 |  | Target Allocations
Equity securities: |  |  |  |  |
United States | 37% |  | 46% |  | 38%
International | 7% |  | 8% |  | 7%
Fixed-income securities | 49% |  | 42% |  | 55%
Short-term investments | 7% |  | 4% |  | —
Total | 100% |  | 100% |  | 100%
Fair Values of Pension Plan Assets By Asset Class | The fair values of the Trust's pension assets at December 31, 2012, by asset class were as follows:
| Fair Value Measurements at December 31, 2012 (A)
(in millions) |  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs |  | Significant Unobservable Inputs
Asset Class | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Short-term investments | $ | 62.0 |  |  | $ | 0.1 |  |  | $ | 61.9 |  |  | $ | — |
Equity securities: (B) |  |  |  |  |  |  |
United States | 336.7 |  |  | — |  |  | 336.7 |  |  | — |
International | 60.6 |  |  | — |  |  | 60.6 |  |  | — |
Fixed-income securities: |  |  |  |  |  |  |
Government securities (C) | 146.5 |  |  | 102.7 |  |  | 43.8 |  |  | — |
Corporate securities (D) | 117.5 |  |  | — |  |  | 117.5 |  |  | — |
Commingled funds (E) | 174.2 |  |  | — |  |  | 174.2 |  |  | — |
Total pension assets at fair value | 897.5 |  |  | $ | 102.8 |  |  | $ | 794.7 |  |  | $ | — |
Other assets (F) | 1.1 |  |  |  |  |  |  |
Total pension plan net assets | $ | 898.6 |  |  |  |  |  |  |
(A) See Note 6 – Fair Value Measurements for a description of levels within the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement is classified is determined based on the lowest level input that is significant to the fair value measurement in its entirety. A description of the valuation methodologies is provided following these tables. There were no transfers in and/or out of Level 1, Level 2 and Level 3 in 2012. (B) The equity assets are invested in two indexed funds based on the Russell 3000 Index (U.S.) and the MSCI EAFE Equity Index (International). The Trust did not directly own any of the Company's common stock as of December 31, 2012. (C) Government securities are comprised primarily of U.S. Treasury bonds and other government securities. (D) Corporate securities consist primarily of investment grade bonds issued by companies in diversified industries. (E) This class includes commingled funds that primarily invest in investment grade corporate securities and government-related securities. This class also includes investments in non-agency collateralized mortgage obligation and mortgage-backed securities, futures and options. (F) This class includes interest receivable and receivables/payables for securities sold/purchased. The fair values of the Trust's pension assets at December 31, 2011, by asset class were as follows:
| Fair Value Measurements at December 31, 2011 (A)
(in millions) |  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs |  | Significant Unobservable Inputs
Asset Class | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Short-term investments | $ | 28.9 |  |  | $ | 0.1 |  |  | $ | 28.8 |  |  | $ | — |
Equity securities: (B) |  |  |  |  |  |  |
United States | 367.2 |  |  | — |  |  | 367.2 |  |  | — |
International | 65.4 |  |  | — |  |  | 65.4 |  |  | — |
Fixed-income securities: |  |  |  |  |  |  |
Government securities (C) | 113.6 |  |  | 75.6 |  |  | 38.0 |  |  | — |
Corporate securities (D) | 98.5 |  |  | — |  |  | 98.5 |  |  | — |
Commingled funds (E) | 126.5 |  |  | — |  |  | 126.5 |  |  | — |
Total pension assets at fair value | 800.1 |  |  | $ | 75.7 |  |  | $ | 724.4 |  |  | $ | — |
Other liabilities (F) | (4.4 | ) |  |  |  |  |  |
Total pension plan net assets | $ | 795.7 |  |  |  |  |  |  |
(A) See Note 6 – Fair Value Measurements for a description of levels within the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement is classified is determined based on the lowest level input that is significant to the fair value measurement in its entirety. A description of the valuation methodologies is provided following these tables. There were no significant transfers in and/or out of Level 1, Level 2 and Level 3 in 2011. (B) The majority of equity assets are invested in two indexed funds based on the Russell 3000 Index (U.S.) and the MSCI EAFE Equity Index (International). The Trust did not directly own any of the Company's common stock as of December 31, 2011. (C) Government securities are comprised primarily of U.S. Treasury bonds and other government securities. (D) Corporate securities consist primarily of investment grade bonds issued by companies in diversified industries. (E) This class includes commingled funds that primarily invest in investment grade corporate securities and government-related securities. This class also includes investments in non-agency collateralized mortgage obligation and mortgage-backed securities, futures and options. (F) This class includes interest receivable and receivables/payables for securities sold/purchased.
Schedule of Expected Cash Flows | The expected cash flows for the Company's pension and other postretirement benefit plans follow:
(in millions) | Pension Benefits |  | Other Postretirement Benefits
Company contributions expected to be made in 2013 (A) | $ | 54.0 |  |  | $ | 7.1 |
Expected benefit payments (which reflect future service): |  |  |
2013 | $ | 78.5 |  |  | $ | 7.1 |
2014 | $ | 80.1 |  |  | $ | 6.0 |
2015 | $ | 81.5 |  |  | $ | 5.4 |
2016 | $ | 82.4 |  |  | $ | 4.9 |
2017 | $ | 83.3 |  |  | $ | 4.6 |
2018-2022 | $ | 418.9 |  |  | $ | 17.6 |
(A) The Company currently anticipates contributing approximately $50.0 million to fund the qualified pension plans and approximately $4.0 million to cover benefit payments in the unfunded, nonqualified pension plan in 2013. Company contributions are subject to change based on market conditions or Company discretion.

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