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Employee Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Changes in Projected Benefit Obligation, Changes in Plan Assets and Funded Status of Plan
The following table provides a reconciliation of benefit obligations and plan assets of the Company’s pension plans and postretirement benefit plans (in millions):
 
Pension
 
Postretirement
 
2017
 
2016
 
2017
 
2016
Change in Projected Benefit Obligations
 
 
 
 
 
 
 
Benefit obligations at beginning of year
$
149.4

 
$
143.0

 
$
1.0

 
$
1.0

Service cost
—

 
0.1

 
—

 
—

Interest cost
6.1

 
5.8

 
—

 
—

Employee contributions
—

 
—

 
—

 
0.1

Plan settlements
(6.8
)
 
(0.1
)
 
—

 
—

Benefits paid
(0.3
)
 
(3.7
)
 
—

 
(0.1
)
Net transfer (1)
—

 
3.6

 
—

 
—

Actuarial loss
11.6

 
0.7

 
0.1

 
—

Benefit obligations at end of year
$
160.0

 
$
149.4

 
$
1.1

 
$
1.0

 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
133.2

 
$
124.3

 
$
—

 
$
—

Actual return on plan assets
17.9

 
9.4

 
—

 
—

Company contributions
—

 
0.1

 
—

 
—

Employee contributions
—

 
—

 
—

 
0.1

Plan settlements
(6.8
)
 
(0.1
)
 
—

 
—

Benefits paid
(0.3
)
 
(3.7
)
 
—

 
(0.1
)
Adjustment (2)
(3.6
)
 
3.2

 
—

 
—

Fair value of plan assets at end of year
$
140.4

 
$
133.2

 
$
—

 
$
—

 
 
 
 
 
 
 
 
Funded Status
$
(19.6
)
 
$
(16.2
)
 
$
(1.1
)
 
$
(1.0
)
 
 
 
 
 
 
 
 
Accumulated benefit obligations
$
160.0

 
$
149.4

 
 
 
 
(1) The benefit obligation is determined each January 1, based upon updated participant information. In connection with the Spin-Off, the net transfer in 2016 represented a liability adjustment related to updated participant information.
(2) In connection with the Spin-Off, assets were allocated between THC and the Company in proportion to the associated liability. The adjustment for 2017 represented the final allocations and settlements with the Hertz Plan and for 2016 represented an adjustment for the updated liability.
Schedule of Amounts Recognized in Balance Sheet
 
Pension
 
Postretirement
 
2017
 
2016
 
2017
 
2016
Amounts Recognized in Balance Sheet
 
 
 
 
 
 
 
Accrued liabilities
$
(0.1
)
 
$
(0.2
)
 
$
(0.1
)
 
$
(0.1
)
Other long-term liabilities
(19.5
)
 
(16.0
)
 
(1.0
)
 
(0.9
)
Net amount recognized
$
(19.6
)
 
$
(16.2
)
 
$
(1.1
)
 
$
(1.0
)
 
 
 
 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss
 
 
 
 
 
 
 
Net actuarial gain (loss)
$
(21.8
)
 
$
(24.2
)
 
$
0.1

 
$
0.1

Prior service credits
0.2

 
0.2

 
—

 
—

Net amount recognized
$
(21.6
)
 
$
(24.0
)
 
$
0.1

 
$
0.1

 
 
 
 
 
 
 
 
Weighted‑Average Assumptions Used to Determine Projected Benefit Obligations
 
 
 
 
 
 
 
Discount rate
3.6
%
 
4.1
%
 
3.5
%
 
4.0
%
Average rate of increase in compensation
—
%
 
—
%
 
—
%
 
—
%
Initial healthcare cost trend rate
 
 
 
 
6.4
%
 
6.7
%
Ultimate healthcare cost trend rate
 
 
 
 
4.5
%
 
4.5
%
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
 
Pension
 
Postretirement
 
2017
 
2016
 
2017
 
2016
Amounts Recognized in Balance Sheet
 
 
 
 
 
 
 
Accrued liabilities
$
(0.1
)
 
$
(0.2
)
 
$
(0.1
)
 
$
(0.1
)
Other long-term liabilities
(19.5
)
 
(16.0
)
 
(1.0
)
 
(0.9
)
Net amount recognized
$
(19.6
)
 
$
(16.2
)
 
$
(1.1
)
 
$
(1.0
)
 
 
 
 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss
 
 
 
 
 
 
 
Net actuarial gain (loss)
$
(21.8
)
 
$
(24.2
)
 
$
0.1

 
$
0.1

Prior service credits
0.2

 
0.2

 
—

 
—

Net amount recognized
$
(21.6
)
 
$
(24.0
)
 
$
0.1

 
$
0.1

 
 
 
 
 
 
 
 
Weighted‑Average Assumptions Used to Determine Projected Benefit Obligations
 
 
 
 
 
 
 
Discount rate
3.6
%
 
4.1
%
 
3.5
%
 
4.0
%
Average rate of increase in compensation
—
%
 
—
%
 
—
%
 
—
%
Initial healthcare cost trend rate
 
 
 
 
6.4
%
 
6.7
%
Ultimate healthcare cost trend rate
 
 
 
 
4.5
%
 
4.5
%
Schedule of Assumptions Used
 
Pension
 
Postretirement
 
2017
 
2016
 
2017
 
2016
Amounts Recognized in Balance Sheet
 
 
 
 
 
 
 
Accrued liabilities
$
(0.1
)
 
$
(0.2
)
 
$
(0.1
)
 
$
(0.1
)
Other long-term liabilities
(19.5
)
 
(16.0
)
 
(1.0
)
 
(0.9
)
Net amount recognized
$
(19.6
)
 
$
(16.2
)
 
$
(1.1
)
 
$
(1.0
)
 
 
 
 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss
 
 
 
 
 
 
 
Net actuarial gain (loss)
$
(21.8
)
 
$
(24.2
)
 
$
0.1

 
$
0.1

Prior service credits
0.2

 
0.2

 
—

 
—

Net amount recognized
$
(21.6
)
 
$
(24.0
)
 
$
0.1

 
$
0.1

 
 
 
 
 
 
 
 
Weighted‑Average Assumptions Used to Determine Projected Benefit Obligations
 
 
 
 
 
 
 
Discount rate
3.6
%
 
4.1
%
 
3.5
%
 
4.0
%
Average rate of increase in compensation
—
%
 
—
%
 
—
%
 
—
%
Initial healthcare cost trend rate
 
 
 
 
6.4
%
 
6.7
%
Ultimate healthcare cost trend rate
 
 
 
 
4.5
%
 
4.5
%
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The benefit obligations and fair value of plan assets for the Company’s qualified and non-qualified pension and postretirement plans with projected benefit obligations or accumulated benefit obligations in excess of plan assets are as follows (in millions):
 
Pension
 
Postretirement
 
2017
 
2016
 
2017
 
2016
Plans with Benefit Obligations in Excess of Plan Assets
 
 
 
 
 
 
 
Projected benefit obligations
$
160.0

 
$
149.4

 
$
1.1

 
$
1.0

Accumulated benefit obligations
160.0

 
149.4

 
—

 
—

Fair value of plan assets
140.4

 
133.2

 
—

 
—
Schedule of Net Periodic Costs
The following table sets forth the net periodic pension cost (benefit) (in millions):
 
Years Ended December 31,
 
2017
 
2016
 
2015
Components of Net Periodic Pension Cost (Benefit):
 
 
 
 
 
Service cost
$
—

 
$
0.1

 
$
0.1

Interest cost
6.1

 
5.8

 
5.6

Expected return on plan assets
(6.2
)
 
(8.0
)
 
(8.7
)
Net amortization of actuarial net loss
1.4

 
1.4

 
0.3

Settlement loss
0.9

 
—

 
0.2

Net periodic pension cost (benefit)
$
2.2

 
$
(0.7
)
 
$
(2.5
)
 
 
 
 
 
 
Weighted‑Average Assumptions Used to Determine Net Periodic Pension Cost (Benefit)
 
 
 
 
 
Discount rate
4.1
%
 
4.3
%
 
3.9
%
Expected return on assets
6.5
%
 
7.2
%
 
7.4
%
Average rate of increase in compensation
—
%
 
4.3
%
 
4.0
%
Schedule of Allocation of Plan Assets
The fair value measurements of all plan assets are based upon significant other observable inputs (Level 2), except for cash which is based upon quoted market prices in active markets for identical assets (Level 1). The following represents the Company's pension plan assets (in millions):

Asset Category
December 31, 2017
 
December 31, 2016
Cash
$
2.2

 
$
1.5

Short Term Investments
0.1

 
0.2

Equity Securities:
 
 
 
U.S. Large Cap
16.3

 
34.7

U.S. Mid Cap
7.3

 
11.3

U.S. Small Cap
1.6

 
9.5

International Large Cap
17.8

 
20.8

International Emerging Markets
6.8

 
6.9

Fixed Income Securities:
 
 
 
U.S. Treasuries
20.8

 
6.8

Corporate Bonds
43.7

 
21.4

Government Bonds
9.3

 
3.5

Municipal Bonds
2.3

 
3.2

Mortgage-Backed Securities
2.8

 
1.8

Asset-Backed Securities
2.7

 
1.2

Bank Loans
6.4

 
—

Other
0.3

 
—

 
140.4

 
122.8

Plan assets receivable from the Hertz Plan
—

 
10.4

Total fair value of pension plan assets
$
140.4

 
$
133.2
Schedule of Expected Benefit Payments
The following table presents estimated future benefit payments (in millions):
 
Pension
 
Postretirement
2018
$
5.5

 
$
0.1

2019
6.4

 
0.1

2020
7.3

 
0.1

2021
7.8

 
0.1

2022
8.8

 
0.1

2023-2027
58.3

 
0.5

 
$
94.1

 
$
1.0
Schedule of Multiemployer Plans
The Company's participation in multiemployer plans for the annual period ended December 31, 2017 is outlined in the table below. For each plan that is individually significant to the Company, the following information is provided:

•
The "EIN / Pension Plan Number" column provides the Employer Identification Number assigned to a plan by the Internal Revenue Service.

•
The "Pension Protection Act Zone Status" available is for plan years that ended in 2017 and 2016. The zone status is based on information provided to the Company and other participating employers by each plan and is certified by the plan's actuary. A plan in the "red" zone has been determined to be in "critical status," based on criteria established under the Internal Revenue Code, or the "Code," and is generally less than 65% funded. A plan in the "yellow" zone has been determined to be in "endangered status," based on criteria established under the Code, and is generally less than 80% funded. A plan in the "green" zone has been determined to be neither in "critical status" nor in "endangered status," and is generally at least 80% funded.

•
The "FIP/RP Status Pending/Implemented" column indicates whether a Funding Improvement Plan, as required under the Code to be adopted by plans in the "yellow" zone, or a Rehabilitation Plan, as required under the Code to be adopted by plans in the “red” zone, is pending or has been implemented as of the end of the plan year that ended in 2017.

•
The "Surcharge Imposed" column indicates whether a surcharge was paid during the most recent annual period presented for the Company's contributions to any plan in the red zone in accordance with the requirements of the Code. The last column lists the expiration dates of the collective bargaining agreements pursuant to which the Company contributed to the plans.

There are no plans where the amount contributed by the Company represents more than 5% of the total contributions to the plan for the years ended December 31, 2017, 2016 and 2015.
(In millions)
 
EIN / Pension
Plan Number
 
Pension
Protection Act
Zone Status
 
FIP /
RP Status
Pending / Implemented
 
Contributions
 
Surcharge Imposed
 
Expiration
Date of
Collective
Bargaining Agreement
Pension Fund
 
 
2017
 
2016
 
 
2017
 
2016
 
2015
 
 
Midwest Operating Engineers
 
36-6140097
 
Green
 
Green
 
N/A
 
$
0.8

 
$
0.7

 
$
0.7

 
N/A
 
8/31/2018
Other Plans (a)
 
 
 
 
 
 
 
 
 
0.9

 
0.8

 
0.7

 
 
 
 
Total Contributions
 
 
 
 
 
 
 
$
1.7

 
$
1.5

 
$
1.4

 
 
 
 
(a)    Consists of six plans, none of which are individually significant to the Company.