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Postretirement Health Care and Life Insurance Benefits (Tables) - Postretirement Health Care and Life Insurance Benefits

12 Months Ended

Dec. 31, 2018

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Components of net periodic postretirement benefit cost

Net periodic postretirement benefit cost included the following components:

	Successor							Predecessor
	Year Ended December 31, 2018				April 2 through December 31, 2017			January 1 through April 1, 2017				Year Ended December 31, 2016
	(Dollars in millions)
Service cost for benefits earned	$	8.2			$	6.9		$	2.3			$	10.4
Interest cost on accumulated postretirement benefit obligation	28.3				24.2			8.4				34.5
Amortization of prior service credit	—				—			(2.3		)		(9.2		)
Amortization of actuarial loss	—				—			5.5				20.4
Net actuarial gain	(128.4		)		(22.0		)	—				—
Net periodic postretirement benefit cost	$	(91.9	)		$	9.1		$	13.9			$	56.1

Amounts recognized in accumulated other comprehensive loss

The following includes pre-tax amounts recorded in “Accumulated other comprehensive income”:

	Successor			Predecessor
	Year Ended December 31, 2018			January 1 through April 1, 2017				Year Ended December 31, 2016
	(Dollars in millions)
Net actuarial loss arising during year	$	—		$	—			$	32.3
Prior service credit arising during year	(51.7		)	—				—
Amortization:
Actuarial loss	—			(5.5		)		(20.4		)
Prior service credit	—			2.3				9.2
Settlement related to the Patriot bankruptcy:
Prior service credit	—			—				7.2
Total recorded in “Accumulated other comprehensive income”	$	(51.7	)	$	(3.2	)		$	28.3

Reconciled amount of plan's funded status

The following table sets forth the plans’ funded status reconciled with the amounts shown in the consolidated balance sheets:

	Successor							Predecessor
	Year Ended December 31, 2018				April 2 through December 31, 2017			January 1 through April 1, 2017
	(Dollars in millions)
Change in benefit obligation:
Accumulated postretirement benefit obligation at beginning of period	$	783.3			$	803.1		$	812.1
Service cost	8.2				6.9			2.3
Interest cost	28.3				24.2			8.4
Participant contributions	0.5				0.4			0.2
Plan amendments	(51.7		)		—			—
Benefits paid	(44.8		)		(29.3		)	(12.8		)
Actuarial gain	(128.4		)		(22.0		)	—
Fresh start reporting adjustments	—				—			(7.1		)
Accumulated postretirement benefit obligation at end of period	595.4				783.3			803.1
Change in plan assets:
Fair value of plan assets at beginning of period	—				—			—
Employer contributions	59.3				28.9			12.6
Participant contributions	0.5				0.4			0.2
Benefits paid and administrative fees (net of Medicare Part D reimbursements)	(44.8		)		(29.3		)	(12.8		)
Fair value of plan assets at end of period	15.0				—			—
Funded status at end of period	(580.4		)		(783.3		)	(803.1		)
Less: Current portion (included in “Accounts payable and accrued expenses”)	32.7				53.3			56.1
Noncurrent obligation (included in “Accrued postretirement benefit costs”)	$	(547.7	)		$	(730.0	)	$	(747.0	)

Weighted-average assumptions used to determine the benefit obligations

The weighted-average assumptions used to determine the benefit obligations as of the end of each year were as follows:

	December 31,
	2018			2017
Discount rate	4.35	%		3.70	%
Measurement date	December 31, 2018			December 31, 2017

The weighted-average assumptions used to determine net periodic benefit cost during each period were as follows:

	Successor					Predecessor
	Year Ended December 31, 2018			April 2 through December 31, 2017		January 1 through April 1, 2017			Year Ended December 31, 2016
Discount rate	3.70	%		4.10	%	4.15	%		4.50	%
Measurement date	December 31, 2017			April 1, 2017		December 31, 2016			December 31, 2015

Assumed health care cost trend rate

The following presents information about the assumed health care cost trend rate:

	Year Ended December 31,
	2018			2017
Pre-Medicare:
Health care cost trend rate assumed for next year	6.55	%		7.00	%
Rate to which the cost trend is assumed to decline (the ultimate trend rate)	4.75	%		4.75	%
Year that the rate reaches the ultimate trend rate	2023			2023
Post-Medicare:
Health care cost trend rate assumed for next year	6.15	%		6.50	%
Rate to which the cost trend is assumed to decline (the ultimate trend rate)	4.75	%		4.75	%
Year that the rate reaches the ultimate trend rate	2023			2023

Assumed health care cost trend rates, one percentage point increase

A one-percentage-point change in the assumed health care cost trend would have the following effects for the year ended December 31, 2018:

	One Percentage- Point Increase				One Percentage- Point Decrease
	(Dollars in millions)
Effect on total service and interest cost components	$	2.9			$	(2.6	)
Effect on total postretirement benefit obligation	$	50.2			$	(45.7	)

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

The following table presents the fair value of assets in the Non-Represented Trust by asset category and by fair value hierarchy:

	December 31, 2018
	Level 1				Level 2				Level 3				Total
	(Dollars in millions)
Cash funds	$	15.0			$	—			$	—			$	15.0
Total assets at fair value	$	15.0			$	—			$	—			$	15.0

Summary of estimated future benefit payments

The following benefit payments (net of retiree contributions), which reflect expected future service, as appropriate, are expected to be paid by the Company:

	Postretirement
	Benefits
	(Dollars in millions)
2019	$	43.4
2020	45.3
2021	46.6
2022	45.8
2023	44.5
Years 2024-2028	205.9

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