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PENSION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract] |
Changes in benefit obligation and plan assets | Changes in the benefit obligation and plan assets were as follows:
| December 31, 2013 |  | December 31, 2012
| ($ in millions) |  | ($ in millions)
Change in Benefit Obligation | U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total
Benefit obligation at beginning of year | $ | 2,070.8 |  |  | $ | 68.4 |  |  | $ | 2,139.2 |  |  | $ | 1,884.9 |  |  | $ | 64.5 |  |  | $ | 1,949.4 |
Service cost | 2.8 |  |  | 0.6 |  |  | 3.4 |  |  | 2.8 |  |  | 0.7 |  |  | 3.5 |
Interest cost | 78.4 |  |  | 2.7 |  |  | 81.1 |  |  | 89.2 |  |  | 2.8 |  |  | 92.0 |
Actuarial (gain) loss | (107.7 | ) |  | (1.7 | ) |  | (109.4 | ) |  | 220.8 |  |  | 2.3 |  |  | 223.1 |
Benefits paid | (127.8 | ) |  | (3.5 | ) |  | (131.3 | ) |  | (126.9 | ) |  | (3.3 | ) |  | (130.2 | )
Currency translation adjustments | — |  |  | (4.3 | ) |  | (4.3 | ) |  | — |  |  | 1.4 |  |  | 1.4 |
Benefit obligation at end of year | $ | 1,916.5 |  |  | $ | 62.2 |  |  | $ | 1,978.7 |  |  | $ | 2,070.8 |  |  | $ | 68.4 |  |  | $ | 2,139.2 |
| December 31, 2013 |  | December 31, 2012
| ($ in millions) |  | ($ in millions)
Change in Plan Assets | U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total
Fair value of plans’ assets at beginning of year | $ | 1,912.5 |  |  | $ | 68.5 |  |  | $ | 1,981.0 |  |  | $ | 1,842.6 |  |  | $ | 64.3 |  |  | $ | 1,906.9 |
Actual return on plans’ assets | 10.7 |  |  | 0.3 |  |  | 11.0 |  |  | 193.0 |  |  | 5.1 |  |  | 198.1 |
Employer contributions | 3.2 |  |  | 1.2 |  |  | 4.4 |  |  | 3.8 |  |  | 1.0 |  |  | 4.8 |
Benefits paid | (127.8 | ) |  | (3.5 | ) |  | (131.3 | ) |  | (126.9 | ) |  | (3.3 | ) |  | (130.2 | )
Currency translation adjustments | — |  |  | (4.4 | ) |  | (4.4 | ) |  | — |  |  | 1.4 |  |  | 1.4 |
Fair value of plans’ assets at end of year | $ | 1,798.6 |  |  | $ | 62.1 |  |  | $ | 1,860.7 |  |  | $ | 1,912.5 |  |  | $ | 68.5 |  |  | $ | 1,981.0 |
| December 31, 2013 |  | December 31, 2012
| ($ in millions) |  | ($ in millions)
Funded Status | U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total
Qualified plans | $ | (57.6 | ) |  | $ | 1.7 |  |  | $ | (55.9 | ) |  | $ | (93.5 | ) |  | $ | 2.1 |  |  | $ | (91.4 | )
Non-qualified plans | (60.3 | ) |  | (1.8 | ) |  | (62.1 | ) |  | (64.8 | ) |  | (2.0 | ) |  | (66.8 | )
Total funded status | $ | (117.9 | ) |  | $ | (0.1 | ) |  | $ | (118.0 | ) |  | $ | (158.3 | ) |  | $ | 0.1 |  |  | $ | (158.2 | )
Amounts recognized in consolidated balance sheets | Amounts recognized in the consolidated balance sheets consisted of:
| December 31, 2013 |  | December 31, 2012
| ($ in millions) |  | ($ in millions)
| U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total
Prepaid benefit cost | $ | — |  |  | $ | 1.7 |  |  | $ | 1.7 |  |  | $ | — |  |  | $ | 2.1 |  |  | $ | 2.1 |
Accrued benefit in current liabilities | (14.2 | ) |  | (0.1 | ) |  | (14.3 | ) |  | (6.0 | ) |  | (0.1 | ) |  | (6.1 | )
Accrued benefit in noncurrent liabilities | (103.7 | ) |  | (1.7 | ) |  | (105.4 | ) |  | (152.3 | ) |  | (1.9 | ) |  | (154.2 | )
Accumulated other comprehensive loss | 540.9 |  |  | 20.7 |  |  | 561.6 |  |  | 557.0 |  |  | 19.9 |  |  | 576.9 |
Net balance sheet impact | $ | 423.0 |  |  | $ | 20.6 |  |  | $ | 443.6 |  |  | $ | 398.7 |  |  | $ | 20.0 |  |  | $ | 418.7 |
Schedule of projected and accumulated benefit obligation, and fair value of plan assets |
| December 31,
| 2013 |  | 2012
| ($ in millions)
Projected benefit obligation | $ | 1,978.7 |  |  | $ | 2,139.2 |
Accumulated benefit obligation | 1,968.9 |  |  | 2,125.8 |
Fair value of plan assets | 1,860.7 |  |  | 1,981.0 |
Components of net periodic benefit income (loss) |
| Years Ended December 31,
Components of Net Periodic Benefit Income | 2013 |  | 2012 |  | 2011
| ($ in millions)
Service cost | $ | 6.2 |  |  | $ | 6.1 |  |  | $ | 6.1 |
Interest cost | 81.1 |  |  | 92.0 |  |  | 94.2 |
Expected return on plans’ assets | (137.5 | ) |  | (139.5 | ) |  | (139.5 | )
Amortization of prior service cost | 1.9 |  |  | 2.2 |  |  | 0.8 |
Recognized actuarial loss | 27.8 |  |  | 18.1 |  |  | 14.8 |
Curtailments | — |  |  | — |  |  | 1.1 |
Net periodic benefit income | $ | (20.5 | ) |  | $ | (21.1 | ) |  | $ | (22.5 | )
Included in Other Comprehensive Loss (Pretax) |  |  |  |  |
Liability adjustment | $ | 14.4 |  |  | $ | 162.0 |  |  | $ | 41.8 |
Amortization of prior service costs and actuarial losses | (29.7 | ) |  | (20.3 | ) |  | (16.7 | )
Assumptions used in calculations |
| U.S. Pension Benefits |  | Foreign Pension Benefits
Weighted Average Assumptions: | 2013 |  | 2012 |  | 2011 |  | 2013 |  | 2012 |  | 2011
Discount rate—periodic benefit cost | 3.9 | % |  | 4.9 | % |  | 5.3 | % |  | 4.2 | % |  | 4.4 | % |  | 5.5 | %
Expected return on assets | 7.75 | % |  | 8.0 | % |  | 8.25 | % |  | 7.75 | % |  | 8.0 | % |  | 8.0 | %
Rate of compensation increase | 3.0 | % |  | 3.0 | % |  | 3.0 | % |  | 3.5 | % |  | 3.5 | % |  | 3.5 | %
Discount rate—benefit obligation | 4.5 | % |  | 3.9 | % |  | 4.9 | % |  | 4.8 | % |  | 4.2 | % |  | 4.4 | %
Schedule of Rate of Returns by Asset Class Considered in Setting Long-Term Rate of Return Assumption [Table Text Block] | The following rates of return by asset class were considered in setting the long-term rate of return assumption:
U.S. equities | 9% |  | to |  | 13%
Non-U.S. equities | 10% |  | to |  | 14%
Fixed income/cash | 5% |  | to |  | 9%
Alternative investments | 5% |  | to |  | 15%
Absolute return strategies | 8% |  | to |  | 12%
Pension plan asset allocation by asset class | Our pension plan asset allocation at December 31, 2013 and 2012, by asset class was as follows:
| Percentage of Plan Assets
Asset Class | 2013 |  | 2012
U.S. equities | 5 | % |  | 6 | %
Non-U.S. equities | 8 | % |  | 7 | %
Fixed income/cash | 51 | % |  | 53 | %
Alternative investments | 20 | % |  | 18 | %
Absolute return strategies | 16 | % |  | 16 | %
Total | 100 | % |  | 100 | %
Target allocation and ranges |
Asset Class | Target Allocation |  | Target Range
U.S. equities | 6 | % |  | 0-14
Non-U.S. equities | 6 | % |  | 0-14
Fixed income/cash | 61 | % |  | 48-80
Alternative investments | 7 | % |  | 0-28
Absolute return strategies | 20 | % |  | 10-30
Pension Plan Investments Measured At Fair Value [Text Block] | The following table summarizes our domestic and foreign defined benefit pension plan assets measured at fair value as of December 31, 2013:
Asset Class | Quoted Prices In Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| ($ in millions)
Equity securities |  |  |  |  |  |  |
U.S. equities | $ | 83.2 |  |  | $ | 14.8 |  |  | $ | — |  |  | $ | 98.0 |
Non-U.S. equities | 41.1 |  |  | 112.1 |  |  | — |  |  | 153.2 |
Fixed income / cash |  |  |  |  |  |  |
Cash | 53.9 |  |  | — |  |  | — |  |  | 53.9 |
Government treasuries | — |  |  | 398.8 |  |  | 4.5 |  |  | 403.3 |
Corporate debt instruments | 0.4 |  |  | 314.4 |  |  | 21.5 |  |  | 336.3 |
Asset-backed securities | — |  |  | 152.3 |  |  | — |  |  | 152.3 |
Alternative investments |  |  |  |  |  |  |
Hedge fund of funds | — |  |  | — |  |  | 315.9 |  |  | 315.9 |
Real estate funds | — |  |  | — |  |  | 35.7 |  |  | 35.7 |
Private equity funds | — |  |  | — |  |  | 17.9 |  |  | 17.9 |
Absolute return strategies | — |  |  | 275.5 |  |  | 18.7 |  |  | 294.2 |
Total assets | $ | 178.6 |  |  | $ | 1,267.9 |  |  | $ | 414.2 |  |  | $ | 1,860.7 |
The following table summarizes our domestic and foreign defined benefit pension plan assets measured at fair value as of December 31, 2012:
Asset Class | Quoted Prices In Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| ($ in millions)
Equity securities |  |  |  |  |  |  |
U.S. equities | $ | 94.8 |  |  | $ | 16.9 |  |  | $ | — |  |  | $ | 111.7 |
Non-U.S. equities | 42.9 |  |  | 105.6 |  |  | — |  |  | 148.5 |
Fixed income / cash |  |  |  |  |  |  |
Cash | 38.2 |  |  | — |  |  | — |  |  | 38.2 |
Government treasuries | — |  |  | 501.7 |  |  | 5.6 |  |  | 507.3 |
Corporate debt instruments | 1.8 |  |  | 358.0 |  |  | 12.2 |  |  | 372.0 |
Asset-backed securities | — |  |  | 141.9 |  |  | — |  |  | 141.9 |
Alternative investments |  |  |  |  |  |  |
Hedge fund of funds | — |  |  | — |  |  | 286.9 |  |  | 286.9 |
Real estate funds | — |  |  | — |  |  | 38.2 |  |  | 38.2 |
Private equity funds | — |  |  | — |  |  | 18.5 |  |  | 18.5 |
Absolute return strategies | — |  |  | 277.0 |  |  | 40.8 |  |  | 317.8 |
Total assets | $ | 177.7 |  |  | $ | 1,401.1 |  |  | $ | 402.2 |  |  | $ | 1,981.0 |
Summary of activity for defined benefit plan with significant unobservable inputs | The following table summarizes the activity for our defined benefit pension plans level 3 assets for the year ended December 31, 2013:
| December 31, 2012 |  | Realized Gain/(Loss) |  | Unrealized Gain/(Loss) Relating to Assets Held at Period End |  | Purchases, Sales, and Settlements |  | Transfers In/(Out) |  | December 31, 2013
| ($ in millions)
Fixed income / cash |  |  |  |  |  |  |  |  |  |  |
Government treasuries | $ | 5.6 |  |  | $ | 0.1 |  |  | $ | (1.1 | ) |  | $ | (0.1 | ) |  | $ | — |  |  | $ | 4.5 |
Corporate debt instruments | 12.2 |  |  | — |  |  | 1.3 |  |  | 8.0 |  |  | — |  |  | 21.5 |
Alternative investments |  |  |  |  |  |  |  |  |  |  |
Hedge fund of funds | 286.9 |  |  | — |  |  | 29.0 |  |  | — |  |  | — |  |  | 315.9 |
Real estate funds | 38.2 |  |  | 1.0 |  |  | 1.9 |  |  | (5.4 | ) |  | — |  |  | 35.7 |
Private equity funds | 18.5 |  |  | 0.8 |  |  | (0.5 | ) |  | (0.9 | ) |  | — |  |  | 17.9 |
Absolute return strategies | 40.8 |  |  | 9.4 |  |  | (7.0 | ) |  | (24.5 | ) |  | — |  |  | 18.7 |
Total level 3 assets | $ | 402.2 |  |  | $ | 11.3 |  |  | $ | 23.6 |  |  | $ | (22.9 | ) |  | $ | — |  |  | $ | 414.2 |
The following table summarizes the activity for our defined benefit pension plans level 3 assets for the year ended December 31, 2012:
| December 31, 2011 |  | Realized Gain/(Loss) |  | Unrealized Gain/(Loss) Relating to Assets Held at Period End |  | Purchases, Sales, and Settlements |  | Transfers In/(Out) |  | December 31, 2012
| ($ in millions)
Fixed income / cash |  |  |  |  |  |  |  |  |  |  |
Government treasuries | $ | 5.5 |  |  | $ | — |  |  | $ | 0.5 |  |  | $ | (0.4 | ) |  | $ | — |  |  | $ | 5.6 |
Corporate debt instruments | 2.9 |  |  | 0.3 |  |  | 0.1 |  |  | 8.9 |  |  | — |  |  | 12.2 |
Alternative investments |  |  |  |  |  |  |  |  |  |  |
Hedge fund of funds | 258.3 |  |  | — |  |  | 25.6 |  |  | 3.0 |  |  | — |  |  | 286.9 |
Real estate funds | 33.9 |  |  | 0.8 |  |  | 2.4 |  |  | 1.1 |  |  | — |  |  | 38.2 |
Private equity funds | 16.8 |  |  | — |  |  | 1.3 |  |  | 0.4 |  |  | — |  |  | 18.5 |
Absolute return strategies | 35.2 |  |  | — |  |  | 3.0 |  |  | 2.6 |  |  | — |  |  | 40.8 |
Total level 3 assets | $ | 352.6 |  |  | $ | 1.1 |  |  | $ | 32.9 |  |  | $ | 15.6 |  |  | $ | — |  |  | $ | 402.2 |

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