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Pension Plans (Tables) | 12 Months Ended
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Dec. 31, 2013
United Kingdom Plan [Member] |
Defined Benefit Pension Plan |
(in millions) |  | 2013 |  |  | 2012 |  |  | 2011 |
Plan net pension charge/(credit): |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 1.6 |  |  | $ | 1.6 |  |  | $ | 1.6 |
Interest cost on PBO |  |  | 31.3 |  |  |  | 32.2 |  |  |  | 36.6 |
Expected return on plan assets |  |  | (35.5 | ) |  |  | (34.1 | ) |  |  | (36.7 | )
Amortization of prior service credit |  |  | (1.3 | ) |  |  | (1.3 | ) |  |  | (1.3 | )
Amortization of actuarial net losses |  |  | 6.2 |  |  |  | 3.2 |  |  |  | 2.7 |
|  | $ | 2.3 |  |  | $ | 1.6 |  |  | $ | 2.9 |
Plan assumptions at December 31, (%): |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.40 |  |  |  | 4.15 |  |  |  | 4.75 |
Inflation rate |  |  | 2.55 |  |  |  | 2.20 |  |  |  | 2.15 |
Rate of return on plan assets – overall on bid-value |  |  | 4.85 |  |  |  | 4.90 |  |  |  | 4.85 |
Rate of return on plan assets – equity securities |  |  | 7.50 |  |  |  | 7.25 |  |  |  | 7.70 |
Rate of return on plan assets – debt securities |  |  | 3.40 |  |  |  | 3.65 |  |  |  | 3.60 |
Plan asset allocation by category (%): |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  |  | 35 |  |  |  | 33 |  |  |  | 29 |
Debt securities |  |  | 61 |  |  |  | 61 |  |  |  | 66 |
Cash |  |  | 4 |  |  |  | 6 |  |  |  | 5 |
|  |  | 100 |  |  |  | 100 |  |  |  | 100 |
Movement in PBO and Fair Value of Plan Assets | Movements in PBO and fair value of Plan assets are as follows:
(in millions) |  | 2013 |  |  | 2012 |
Change in PBO: |  |  |  |  |  |  |  |
Opening balance |  | $ | 805.3 |  |  | $ | 687.4 |
Interest cost |  |  | 31.3 |  |  |  | 32.2 |
Service cost |  |  | 1.6 |  |  |  | 1.6 |
Benefits paid |  |  | (39.4 | ) |  |  | (43.9 | )
Actuarial losses/(gains) |  |  | 5.9 |  |  |  | 94.4 |
Exchange effect |  |  | 15.1 |  |  |  | 33.6 |
Closing balance |  | $ | 819.8 |  |  | $ | 805.3 |
Fair value of plan assets: |  |  |  |  |  |  |  |
Opening balance |  | $ | 768.6 |  |  | $ | 708.8 |
Actual benefits paid |  |  | (39.4 | ) |  |  | (43.9 | )
Actual contributions by employer |  |  | 10.8 |  |  |  | 9.2 |
Actual return on assets |  |  | 35.5 |  |  |  | 61.2 |
Exchange effect |  |  | 14.8 |  |  |  | 33.3 |
Closing balance |  | $ | 790.3 |  |  | $ | 768.6 |
Fair Value of Pension Assets | The fair values of pension assets by level of input were as follows:
(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, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities issued by U.S. government and government agencies |  | $ | 1.3 |  |  | $ |  |  |  | $ |  |  |  | $ | 1.3 |
Debt securities issued by non-U.S. governments and government agencies |  |  | 198.7 |  |  |  |  |  |  |  |  |  |  |  | 198.7 |
Corporate debt securities |  |  | 275.5 |  |  |  |  |  |  |  |  |  |  |  | 275.5 |
Residential mortgage-backed securities |  |  | 0.2 |  |  |  |  |  |  |  |  |  |  |  | 0.2 |
Other asset-backed securities |  |  | 3.8 |  |  |  |  |  |  |  |  |  |  |  | 3.8 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities held for proprietary investment purposes |  |  | 156.7 |  |  |  |  |  |  |  |  |  |  |  | 156.7 |
Real estate |  |  | 61.4 |  |  |  |  |  |  |  |  |  |  |  | 61.4 |
Other assets |  |  |  |  |  |  | 25.3 |  |  |  | 38.3 |  |  |  | 63.6 |
Total assets at fair value |  |  | 697.6 |  |  |  | 25.3 |  |  |  | 38.3 |  |  |  | 761.2 |
Cash |  |  | 29.1 |  |  |  |  |  |  |  |  |  |  |  | 29.1 |
Total plan assets |  | $ | 726.7 |  |  | $ | 25.3 |  |  | $ | 38.3 |  |  | $ | 790.3 |
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 |
Reconciliation of Fair Value of Plan Assets | The reconciliation of the fair value of the Plan assets using significant unobservable inputs (Level 3) was as follows:
(in millions) |  | Other Assets |
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 |
Realized/unrealized gains/(losses): |  |  |  |
Relating to assets still held at the reporting date |  |  | 3.5 |
Relating to assets sold during the period |  |  | 0.0 |
Purchases, issuances and settlements |  |  | 3.6 |
Exchange effect |  |  | 0.2 |
Balance at December 31, 2013 |  | $ | 38.3 |
Plan Net Pension Charge | The projected net pension charge for the year ending December 31, 2014 is as follows:
(in millions) |  |  |
Service cost |  | $ | 1.7 |
Interest cost on PBO |  |  | 34.7 |
Expected return on plan assets |  |  | (37.3 | )
Amortization of prior service credit |  |  | (1.3 | )
Amortization of actuarial net losses |  |  | 5.5 |
|  | $ | 3.3 |
Expected Benefit Payments | The following benefit payments are expected to be made:
(in millions) |  |  |
2014 |  | $ | 49.7 |
2015 |  | $ | 47.0 |
2016 |  | $ | 47.9 |
2017 |  | $ | 48.5 |
2018 |  | $ | 49.2 |
2019 – 2023 |  | $ | 258.0 |
German Plan [Member] |
Movement in PBO and Fair Value of Plan Assets | Movements in PBO of the German plan are as follows:
(in millions) |  | 2013 |  |  | 2012 |
Change in PBO: |  |  |  |  |  |  |  |
Opening balance |  | $ | 9.3 |  |  | $ | 6.3 |
Service cost |  |  | 0.2 |  |  |  | 0.1 |
Interest cost |  |  | 0.3 |  |  |  | 0.3 |
Amortization of prior service cost/(credit) |  |  | (0.1 | ) |  |  | 0.0 |
Benefits paid |  |  | (0.2 | ) |  |  | (0.2 | )
Actuarial losses/(gains) |  |  | (0.4 | ) |  |  | 2.6 |
Exchange effect |  |  | 0.5 |  |  |  | 0.2 |
Closing balance |  | $ | 9.6 |  |  | $ | 9.3 |
Unfunded Defined Benefit Pension Plan |
(in millions) |  | 2013 |  |  | 2012 |  |  | 2011 |
German plan net pension charge: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 0.2 |
Interest cost on PBO |  |  | 0.3 |  |  |  | 0.3 |  |  |  | 0.3 |
Amortization of prior service cost/(credit) |  |  | (0.1 | ) |  |  | 0.0 |  |  |  | 0.0 |
Amortization of actuarial net loss/(gain) |  |  | 0.2 |  |  |  | 0.0 |  |  |  | 0.0 |
|  | $ | 0.6 |  |  | $ | 0.4 |  |  | $ | 0.5 |
German plan assumptions (%): |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 3.50 |  |  |  | 3.25 |  |  |  | 5.00 |
Inflation rate |  |  | 2.00 |  |  |  | 2.00 |  |  |  | 2.00 |
Rate of increase in compensation levels |  |  | 2.75 |  |  |  | 2.75 |  |  |  | 2.75 |

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