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Pension Plans (Tables)

12 Months Ended

Dec. 31, 2012

UK Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined benefit pension plan

(in millions)		2012				2011				2010
Plan net pension (credit)/charge:
Service cost		$	1.6			$	1.6			$	1.6
Interest cost on PBO			32.2				36.6				40.8
Expected return on plan assets			(34.1	)			(36.7	)			(35.9	)
Amortization of prior service credit			(1.3	)			(1.3	)			(0.9	)
Amortization of actuarial net losses			1.3				0.3				5.2
		$	(0.3	)		$	0.5			$	10.8
Plan assumptions (%):
Discount rate			4.15				4.75				5.40
Inflation rate			2.20				2.15				2.80
Rate of increase in compensation levels			0.00				0.00				0.00
Rate of return on plan assets – overall			4.90				4.85				5.45
Rate of return on plan assets – equity securities			7.25				7.70				7.70
Rate of return on plan assets – debt securities			3.65				3.60				4.50
Plan asset allocation by category (%):
Equity securities			33				29				27
Debt securities			61				66				73
Cash			6				5				0
			100				100				100

Fair value of pension assets

(in millions)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
At December 31, 2012
Fixed income securities:
Debt securities issued by U.S. government and government agencies		$	1.6			$				$				$	1.6
Debt securities issued by non-U.S. governments and government agencies			191.3												191.3
Corporate debt securities			284.6												284.6
Residential mortgage-backed securities			0.2												0.2
Other asset-backed securities			3.1												3.1
Equity securities:
Equity securities held for proprietary investment purposes			134.8												134.8
Real estate			33.2												33.2
Other assets							39.0				31.0				70.0
Total assets at fair value			648.8				39.0				31.0				718.8
Cash			49.8												49.8
Total plan assets		$	698.6			$	39.0			$	31.0			$	768.6
At December 31, 2011
Fixed income securities:
Debt securities issued by U.S. government and government agencies		$	0.9			$				$				$	0.9
Debt securities issued by non-U.S. governments and government agencies			221.0												221.0
Corporate debt securities			254.2												254.2
Residential mortgage-backed securities			0.2												0.2
Other asset-backed securities			2.2												2.2
Equity securities:
Equity securities held for proprietary investment purposes			114.1												114.1
Real estate			26.1												26.1
Other assets			15.5				13.7				28.1				57.3
Total assets at fair value			634.2				13.7				28.1				676.0
Cash			32.8												32.8
Total plan assets		$	667.0			$	13.7			$	28.1			$	708.8

Reconciliation of the fair value of Plan assets

(in millions)		Other Assets
Balance at December 31, 2010		$	23.3
Realized/unrealized gains/(losses):
Relating to assets still held at the reporting date			1.0
Relating to assets sold during the period			(0.5	)
Purchases, issuances and settlements			4.5
Exchange effect			(0.2	)
Balance at December 31, 2011			28.1
Realized/unrealized gains/(losses):
Relating to assets still held at the reporting date			1.3
Relating to assets sold during the period			0.0
Purchases, issuances and settlements			0.5
Exchange effect			1.1
Balance at December 31, 2012		$	31.0

Plan net pension charge

(in millions)
Service cost		$	1.6
Interest cost on PBO			32.5
Expected return on plan assets			(36.9	)
Amortization of prior service credit			(1.3	)
Amortization of actuarial net losses			7.0
		$	2.9

Expected benefit payments

(in millions)
2013		$	45.5
2014		$	46.2
2015		$	46.8
2016		$	47.3
2017		$	48.0
2018 – 2022		$	249.5

Movement in PBO and fair value of plan assets

(in millions)		2012				2011
Change in PBO:
Opening balance		$	687.4			$	684.0
Interest cost			32.2				36.6
Service cost			1.6				1.6
Benefits paid			(43.9	)			(45.7	)
Actuarial losses/(gains)			94.4				16.3
Exchange effect			33.6				(5.4	)
Closing balance		$	805.3			$	687.4
Fair value of plan assets:
Opening balance		$	708.8			$	672.3
Actual benefits paid			(43.9	)			(45.7	)
Actual contributions by employer			9.2				9.8
Actual return on assets			61.2				78.9
Exchange effect			33.3				(6.5	)
Closing balance		$	768.6			$	708.8
Plan assets (deficit)/excess over PBO		$	(36.7	)		$	21.4
Unrecognized net loss			177.8				103.1
Amortization of actuarial net losses			(1.3	)			(0.3	)
Amortization of prior service credit			1.3				1.3
Amount recognized in other comprehensive loss			(177.8	)			(104.1	)
Pension (liability)/asset		$	(36.7	)		$	21.4

German Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Movement in PBO and fair value of plan assets

(in millions)		2012				2011
Change in PBO:
Opening balance		$	6.3			$	6.3
Service cost			0.1				0.2
Interest cost			0.3				0.3
Benefits paid			(0.2	)			(0.2	)
Actuarial losses			2.6				0.0
Exchange effect			0.2				(0.3	)
Closing balance		$	9.3			$	6.3

Unfunded defined benefit pension plan

(in millions)		2012				2011				2010
German plan net pension charge:
Service cost		$	0.1			$	0.2			$	0.1
Interest cost on PBO			0.3				0.3				0.3
		$	0.4			$	0.5			$	0.4
German plan assumptions (%):
Discount rate			3.25				5.00				5.00
Inflation rate			2.00				2.00				2.00
Rate of increase in compensation levels			2.75				2.75				2.75

X

- Definition

Defined benefit pension plan projected benefit obligation in excess of fair value of plan assets.

+ References

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

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-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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