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Pension and post-retirement benefits (Tables)
 6 Months Ended
Jun. 30, 2016
Postemployment Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following table summarizes the assumptions used in valuing the obligations assumed from WestRock and components of our defined benefit pension and post-retirement benefit plans as of the date of Separation.
(in million, excepted percentages)
 
Qualified Union Hourly Defined Benefit Pension Plan
 
Discount Rate (1)
4.00
%
 
 
Projected Benefit Obligation
$
19.3

Fair value of Plan Assets
19.8

Funded (unfunded) Status (2)
$
0.5

 
 
Non-Qualified Defined Benefit Pension Plan
 
Discount Rate (1)
3.75
%
 
 
Projected Benefit Obligation (3)
$
4.9

 
 
Other Post-retirement Benefit Plans
 
Discount Rate (1)
3.75
%
 
 
Projected Benefit Obligation (3)
$
0.8

_______________
(1)
The discount rate used to calculate pension and other post-retirement obligations was based on a review of available yields on high-quality corporate bonds as of the date of Separation. In selecting a discount rate, we placed particular emphasis on a discount rate yield-curve provided by our third-party actuary which takes into consideration the projected cash flows that represent the expected timing and amount of our plans' benefit payments.
(2)
Included in "Other Assets" on the Consolidated and Combined Balance Sheet. The projected benefit obligation assumed and assets acquired were calculated as of the date of spin and finalized subsequent to June 30, 2016. The fair value of plan assets recorded on our June 30, 2016 Consolidated Balance Sheet represent a receivable in the amount of the actual assets received on July 22, 2016.
(3)    Included in "Other Liabilities" on the Consolidated and Combined Balance Sheet.