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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Schedule of Net Funded Status The status of the funded defined benefit pension plan and the unfunded accumulated post-retirement benefit plans at December 31, 2020 and 2019 and are shown below (in millions):
Pension BenefitsOther Post-retirement BenefitsNon-qualified Plan Benefits
202020192020201920202019
Change in Benefit Obligation
Benefit obligation at beginning of year$204.4 $189.6 $10.1 $10.6 $2.8 $2.7 
Service cost0.8 2.3 0.1 0.1 — 0.1 
Interest cost6.5 8.0 0.3 0.4 0.1 0.1 
Plan participants’ contributions— — 0.8 0.8 — — 
Actuarial (gain) loss21.1 19.0 3.7 (0.3)0.2 0.2 
Benefits paid(14.1)(14.5)(1.5)(1.5)— (0.3)
Settlement— — — — — — 
Benefit obligation at end of year$218.7 $204.4 $13.5 $10.1 $3.1 $2.8 
Change in Plan Assets
Fair value of plan assets at beginning of year$190.5 $173.6 $— $— $— $— 
Actual return on plan assets24.2 31.4 — — — — 
Employer contributions— — 0.7 0.8 — 0.3 
Participant contributions— — 0.8 0.7 — — 
Benefits paid(14.1)(14.5)(1.5)(1.5)— (0.3)
Settlement — — — — — — 
Fair value of plan assets at end of year$200.6 $190.5 $— $— $— $— 
Funded Status (Recognized Liability1)
$(18.1)$(13.9)$(13.5)$(10.1)$(3.1)$(2.8)
1 Presented as Accrued pension and post-retirement benefits as of December 31, 2020 and 2019.
Weighted Average and Target Asset Allocations
The Company’s target allocation by asset category as of December 31, 2020, and the weighted-average asset allocations at December 31, 2020 and 2019 were as follows:
Target20202019
Fixed income securities1
100 %99 %99 %
Cash and cash equivalents— %1 %1 %
Total100 %100 %100 %
1Fixed income securities include investment-grade corporate bonds from diversified industries and U.S. Treasuries.
Schedule of Allocation of Plan Assets The fair values of the Company’s defined benefit pension plan assets at December 31, 2020 and 2019, by asset category, are as follows (in millions):
Fair Value Measurements at
December 31, 2020December 31, 2019
TotalQuoted Prices in Active Markets (Level 1)Significant Observable Inputs
(Level 2)		TotalQuoted Prices in Active Markets (Level 1)Significant Observable Inputs
(Level 2)
Asset Category
Cash and cash equivalents$1.2 $1.2 $— $1.2 $1.2 $— 
Fixed income securities
U.S. Treasury obligations— — — — — — 
Domestic corporate bonds and notes— — — — — — 
Foreign corporate bonds— — — — — — 
Assets measured at NAV199.4 — — 189.3 — — 
Total$200.6 $1.2 $— $190.5 $1.2 $— 
Schedule of Expected Benefit Payments The estimated future benefit payments for the next ten years are as follows (in millions):
202120222023202420252026-2030
Estimated Benefit Payments
Pension$13.2 $13.1 $12.9 $13.2 $12.7 $59.5 
Post-retirement Benefits0.8 0.8 0.7 0.7 0.7 3.3 
Non-qualified Plan Benefits— 1.2 — — 1.9 — 
Total estimated benefit payments$14.0 $15.1 $13.6 $13.9 $15.3 $62.8 
Summary of Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss Components of the net periodic benefit cost and other amounts recognized in other comprehensive income (loss) for the defined benefit pension plans and the post-retirement health care and life insurance benefit plans during 2020, 2019, and 2018, are shown below (in millions):
Pension BenefitsOther Post-retirement BenefitsNon-qualified Plan Benefits
Components of Net Periodic Benefit Cost202020192018202020192018202020192018
Service cost$(0.8)$(2.3)$(1.8)$(0.1)$(0.1)$(0.1)$— $(0.1)$(0.1)
Interest cost(6.5)(8.0)(7.4)(0.3)(0.4)(0.4)(0.1)(0.1)(0.1)
Expected return on plan assets6.8 7.3 8.2 — — — — — — 
Amortization of net loss(2.5)(4.1)(4.2)0.1 0.1 (0.3)(0.1)— (0.1)
Amortization of prior service cost — 0.6 0.5 — — — — 0.1 0.2 
Curtailment gain (loss)— 1.3 — — — — — 0.1 0.6 
Settlement gain (loss)— — — — — — — — (0.1)
Net periodic benefit cost$(3.0)$(5.2)$(4.7)$(0.3)$(0.4)$(0.8)$(0.2)$— $0.4 
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)
Net gain (loss)$(3.8)$5.2 $(6.5)$(3.7)$0.3 $1.4 $(0.2)$(0.2)$0.2 
Amortization of net loss1
2.5 4.1 4.2 (0.1)(0.1)0.3 0.1 — 0.1 
Prior service credit— — — — — — — — — 
Prior service cost(0.1)— — — — — — — — 
Amortization of prior service credit1
— (0.6)(0.5)— — — — (0.1)(0.2)
Curtailment gain recognition of prior service credit1
— (1.3)— — — — — (0.1)(0.6)
Recognition of settlement loss1
— — — — — — — — 0.1 
Total recognized in Other comprehensive income (loss)(1.4)7.4 (2.8)(3.8)0.2 1.7 (0.1)(0.4)(0.4)
Total recognized in net periodic benefit cost and Other comprehensive income (loss)$(4.4)$2.2 $(7.5)$(4.1)$(0.2)$0.9 $(0.3)$(0.4)$— 
1 Represents amortization or recognition of balances previously recorded to Accumulated other comprehensive income (loss) in the consolidated balance sheets and recognized as a component of net periodic benefit cost.
Amounts Recognized on the Consolidated Balance Sheets and in Accumulated Other Comprehensive Loss
Amounts recognized on the consolidated balance sheets in accumulated other comprehensive income (loss) at December 31, 2020 and 2019 were as follows (in millions):
Pension BenefitsOther Post-retirement BenefitsNon-qualified Plan Benefits
202020192020201920202019
Net gain (loss), net of taxes$(48.8)$(47.4)$(3.6)$0.2 $(0.8)$(0.8)
Unrecognized prior service credit (cost), net of taxes(0.1)— — — — — 
Total$(48.9)$(47.4)$(3.6)$0.2 $(0.8)$(0.8)
Schedule of Assumptions Used The weighted average assumptions used to determine benefit information during 2020, 2019, and 2018 were as follows:
Pension BenefitsOther Post-retirement BenefitsNon-qualified Plan Benefits
202020192018202020192018202020192018
Weighted Average Assumptions
Discount rate2.40 %3.29 %4.33 %2.49 %3.38 %4.38 %1.07 %2.48 %3.78 %
Rate of compensation increaseN/A
0.5%-3.0%
0.5%-3.0%
0.5%-3.0%
0.5%-3.0%
0.5%-3.0%
N/AN/AN/A
Expected return on plan assets3.70 %4.30 %4.30 %N/AN/AN/AN/AN/AN/A
Interest crediting rates0.71 %1.68 %3.01 %N/AN/AN/A0.71 %1.68 %3.01 %
Initial health care cost trend rateN/AN/AN/A5.70 %6.00 %6.20 %N/AN/AN/A
Ultimate rateN/AN/AN/A4.50 %4.50 %4.50 %N/AN/AN/A
Year ultimate rate is reachedN/AN/AN/A203720372037N/AN/AN/A
Schedule of Multiemployer Plans
The "FIP/RP Status Pending/Implemented" column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented and the "Surcharge Imposed" column represents whether the Company has paid a surcharge to the plan as of December 31, 2020. The "Expiration Date" column describes the expiration dates of the collective-bargaining agreements requiring contributions to the plan.
FIP/RP StatusContribution by EntityContribution by EntityContribution by EntitySurcharge ImposedExpiration Date
FundEIN Pension Plan NumberPPA Zone StatusPending/ImplementedJan. 1 - Dec. 31, 2020Jan. 1 - Dec. 31, 2019Jan. 1 - Dec. 31, 2018
Operating Engineers
94-6090764; 001
YellowYes$3.3$4.1$4.7No8/31/24
Laborers National
52-6074345; 001
YellowYes0.20.20.2No8/31/21
Hawai‘i Laborers (GPRM)
99-6025107; 001
GreenNo0.31.10.9NoN/A
Hawai‘i Laborers (GPRS)
99-6025107; 001
GreenNo0.20.20.2No9/30/24
Total$4.0$5.6$6.0