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Pension Benefits (Tables) - Pension Plans, Defined Benefit [Member] | 12 Months Ended
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Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Changes in Fair Value of Plan Assets | Changes in Fair Value of Plan Assets and Changes in Projected Benefit Obligation for the Pension Plan for the years ended December 31, 2015 and 2014 is presented below.
DOLLARS IN MILLIONS |  |
2015 |  | 2014
Fair Value of Plan Assets at Beginning of Year |  | $ | 543.0 |  |  | $ | 524.5 |
Actual Return on Plan Assets |  | (10.6 | ) |  | 41.7 |
Benefits Paid |  | (24.9 | ) |  | (23.2 | )
Fair Value of Plan Assets at End of Year |  | 507.5 |  |  | 543.0 |
Projected Benefit Obligation at Beginning of Year |  | 634.0 |  |  | 515.5 |
Service Cost |  | 10.5 |  |  | 8.7 |
Interest Cost |  | 25.7 |  |  | 24.8 |
Benefits Paid |  | (24.9 | ) |  | (23.2 | )
Plan Amendments |  | — |  |  | (0.6 | )
Actuarial Losses (Gains) |  | (47.5 | ) |  | 108.8 |
Projected Benefit Obligation at End of Year |  | 597.8 |  |  | 634.0 |
Funded Status—Plan Assets in Excess (Deficit) of Projected Benefit Obligation |  | $ | (90.3 | ) |  | $ | (91.0 | )
Unamortized Amount Reported in AOCI at End of Year: |  |  |  |
Accumulated Actuarial Loss |  | $ | (152.2 | ) |  | $ | (178.6 | )
Prior Service Credit |  | 0.4 |  |  | 0.5 |
Unamortized Amount Reported in AOCI at End of Year |  | $ | (151.8 | ) |  | $ | (178.1 | )
Accumulated Benefit Obligation at End of Year |  | $ | 573.9 |  |  | $ | 608.2 |
Schedule of Assumptions Used | The weighted-average discount rate and rate of increase in future compensation levels used to estimate the components of the Projected Benefit Obligation for the Pension Plan at December 31, 2015 and 2014 were:
|  | 2015 |  | 2014
Discount Rate |  | 4.47 | % |  | 4.10 | %
Rate of Increase in Future Compensation Levels |  | 3.15 |  |  | 3.31 |
used to develop the components of Pension Expense for the Pension Plan for the years ended December 31, 2015, 2014 and 2013 were:
|  | 2015 |  | 2014 |  | 2013
Discount Rate |  | 4.10 | % |  | 4.90 | % |  | 4.05 | %
Rate of Increase in Future Compensation Levels |  | 3.31 |  |  | 3.05 |  |  | 3.08 |
Expected Long Term Rate of Return on Plan Assets |  | 6.75 |  |  | 7.00 |  |  | 7.00 |
Schedule of Allocation of Plan Assets | Weighted-average asset allocations for the Pension Plan at December 31, 2015 and 2014 by asset category were:
ASSET CATEGORY |  | 2015 |  | 2014
Cash and Short-term Investments |  | 4 | % |  | 4 | %
Corporate Bonds and Notes |  | 28 |  |  | 29 |
Common and Preferred Stocks |  | 43 |  |  | 43 |
Exchange Traded Funds |  | 9 |  |  | 12 |
Other Assets |  | 16 |  |  | 12 |
Total |  | 100 | % |  | 100 | %
Fair Value, Measurement Inputs, Disclosure | Fair value measurements for the Pension Plan’s assets at December 31, 2014 are summarized below.
DOLLARS IN MILLIONS |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Fair Value
Fixed Maturities: |  |  |  |  |  |  |  |
U.S. Government and Government Agencies and Authorities |  | $ | 18.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 18.4 |
States and Political Subdivisions |  | — |  |  | 3.3 |  |  | — |  |  | 3.3 |
Corporate Bonds and Notes |  | — |  |  | 136.6 |  |  | — |  |  | 136.6 |
Equity Securities: |  |  |  |  |  |  |  |
Preferred Stocks: |  |  |  |  |  |  |  |
Finance, Insurance and Real Estate |  | — |  |  | 6.4 |  |  | — |  |  | 6.4 |
Common Stocks: |  |  |  |  |  |  |  |
Manufacturing |  | 98.8 |  |  | 15.0 |  |  | — |  |  | 113.8 |
Other Industries |  | 79.3 |  |  | 2.3 |  |  | — |  |  | 81.6 |
Other Equity Interests: |  |  |  |  |  |  |  |
Collective Investment Funds |  | — |  |  | 30.0 |  |  | — |  |  | 30.0 |
Exchange Traded Funds |  | 65.5 |  |  | — |  |  | — |  |  | 65.5 |
Limited Liability Companies and Limited Partnerships |  | — |  |  | — |  |  | 64.5 |  |  | 64.5 |
Short-term Investments |  | 21.5 |  |  | — |  |  | — |  |  | 21.5 |
Receivables and Other |  | 1.0 |  |  | — |  |  | 0.4 |  |  | 1.4 |
Total |  | $ | 284.5 |  |  | $ | 193.6 |  |  | $ | 64.9 |  |  | $ | 543.0 |
Fair value measurements for the Pension Plan’s assets at December 31, 2015 are summarized below.
DOLLARS IN MILLIONS |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Fair Value
Fixed Maturities: |  |  |  |  |  |  |  |
U.S. Government and Government Agencies and Authorities |  | $ | 19.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 19.2 |
States and Political Subdivisions |  | — |  |  | 3.2 |  |  | — |  |  | 3.2 |
Corporate Bonds and Notes |  | — |  |  | 122.2 |  |  | — |  |  | 122.2 |
Equity Securities: |  |  |  |  |  |  |  |
Preferred Stocks: |  |  |  |  |  |  |  |
Finance, Insurance and Real Estate |  | — |  |  | 6.1 |  |  | — |  |  | 6.1 |
Common Stocks: |  |  |  |  |  |  |  |
Manufacturing |  | 77.9 |  |  | 16.2 |  |  | — |  |  | 94.1 |
Other Industries |  | 82.5 |  |  | 1.8 |  |  | — |  |  | 84.3 |
Other Equity Interests: |  |  |  |  |  |  |  |
Collective Investment Funds |  | — |  |  | 31.1 |  |  | — |  |  | 31.1 |
Exchange Traded Funds |  | 47.2 |  |  | — |  |  | — |  |  | 47.2 |
Limited Liability Companies and Limited Partnerships |  | — |  |  | — |  |  | 78.2 |  |  | 78.2 |
Short-term Investments |  | 20.4 |  |  | — |  |  | — |  |  | 20.4 |
Receivables and Other |  | 1.1 |  |  | — |  |  | 0.4 |  |  | 1.5 |
Total |  | $ | 248.3 |  |  | $ | 180.6 |  |  | $ | 78.6 |  |  | $ | 507.5 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) | The components of Comprehensive Pension Expense (Income) for the Pension Plan for the years ended December 31, 2015, 2014 and 2013 were:
DOLLARS IN MILLIONS |  | 2015 |  | 2014 |  | 2013
Service Cost Earned During the Year |  | $ | 10.5 |  |  | $ | 8.7 |  |  | $ | 10.8 |
Interest Cost on Projected Benefit Obligation |  | 25.7 |  |  | 24.8 |  |  | 22.4 |
Expected Return on Plan Assets |  | (35.0 | ) |  | (34.9 | ) |  | (29.7 | )
Amortization of Actuarial Loss |  | 24.4 |  |  | 9.7 |  |  | 26.2 |
Pension Expense Recognized in Consolidated Statements of Income |  | 25.6 |  |  | 8.3 |  |  | 29.7 |
Unrecognized Pension Loss (Gain) Arising During the Year |  | (1.9 | ) |  | 102.0 |  |  | (53.8 | )
Prior Service Credit Arising During the Year |  | — |  |  | (0.6 | ) |  | — |
Amortization of Accumulated Unrecognized Pension Loss |  | (24.4 | ) |  | (9.7 | ) |  | (26.2 | )
Comprehensive Pension Expense (Income) |  | $ | (0.7 | ) |  | $ | 100.0 |  |  | $ | (50.3 | )
Schedule of Expected Benefit Payments | The following benefit payments (net of participant contributions), which consider expected future service, as appropriate, are expected to be paid from the Pension Plan:
DOLLARS IN MILLIONS |  | Years Ending December 31,
2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021-2025
Estimated Pension Benefit Payments |  | $ | 26.3 |  |  | $ | 27.7 |  |  | $ | 29.1 |  |  | $ | 30.3 |  |  | $ | 31.5 |  |  | $ | 174.4 |
Fair Value, Inputs, Level 3 [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Changes in Fair Value of Plan Assets | Additional information pertaining to the changes in the fair value of the Pension Plan’s assets classified as Level 3 for the year ended December 31, 2014 is presented below.
DOLLARS IN MILLIONS |  | Other Equity Interests |  | Receivables and Other |  | Total
Balance at Beginning of Year |  | $ | 46.9 |  |  | $ | 0.5 |  |  | $ | 47.4 |
Return on Plan Assets Held |  | 3.4 |  |  | — |  |  | 3.4 |
Purchases, Sales and Settlements, Net |  | 14.2 |  |  | (0.1 | ) |  | 14.1 |
Balance at End of Year |  | $ | 64.5 |  |  | $ | 0.4 |  |  | $ | 64.9 |
Additional information pertaining to the changes in the fair value of the Pension Plan’s assets classified as Level 3 for the year ended December 31, 2015 is presented below.
DOLLARS IN MILLIONS |  | Other Equity Interests |  | Receivables and Other |  | Total
Balance at Beginning of Year |  | $ | 64.5 |  |  | $ | 0.4 |  |  | $ | 64.9 |
Return on Plan Assets Held |  | (1.5 | ) |  | — |  |  | (1.5 | )
Purchases, Sales and Settlements, Net |  | 15.2 |  |  | — |  |  | 15.2 |
Balance at End of Year |  | $ | 78.2 |  |  | $ | 0.4 |  |  | $ | 78.6 |

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