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Retirement Benefits Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Postretirement benefit plans (benefit) expense

Postretirement benefit plans expense consisted of the following components:

			Years Ended December 31,
			2020						2019						2018
			(Dollars in millions)
Interest cost on benefit obligations			$	0.7					$	1.1					$	1.0
Amortization of:
Actuarial losses			0.7						0.6						0.6
Prior service benefit			(0.5)						(0.6)						(0.7)
Total expense			$	0.9					$	1.1					$	0.9

Discount rates used to determine benefit obligations for the plans

The following assumptions were used to determine postretirement benefit plans expense:

			December 31,
			2020						2019						2018
Discount rate			2.90		%				4.00		%				3.35		%

The following discount rates were used to determine the benefit obligation:

			December 31,
			2020						2019
Discount rate			2.00		%				2.90		%

Recognized components of other comprehensive income (loss)

The following amounts were recognized as components of other comprehensive income (loss) before related tax impacts:

			Years Ended December 31,
			2020						2019						2018
			(Dollars in millions)
Reclassifications to earnings of:
Actuarial loss amortization			$	0.7					$	0.6					$	0.6
Prior service benefit amortization			(0.5)						(0.6)						(0.7)
Retirement benefit plan funded status adjustments:
Actuarial (losses) gains			(2.0)						(1.0)						0.8
			$	(1.8)					$	(1.0)					$	0.7

Components of changes in benefit obligations and fair value of plan assets

The following table sets forth the components of the changes in benefit obligations:

			Years Ended December 31,
			2020						2019
			(Dollars in millions)
Benefit obligation at beginning of year			$	27.4					$	28.2
Interest cost			0.7						1.1
Actuarial loss			2.0						1.0
Benefits paid			(2.6)						(2.9)
Benefit obligation at end of year(1)			$	27.5					$	27.4

(1)The current portion of retirement benefit liabilities, which totaled $2.8 million and $2.9 million at December 31, 2020 and 2019, respectively, is classified in accrued liabilities on the Consolidated Balance Sheets.

Cumulative amounts not recognized

The following table sets forth the cumulative amounts not yet recognized in net (loss) income:

			Years Ended December 31,
			2020						2019
			(Dollars in millions)
Cumulative amounts not yet recognized in net (loss) income:
Actuarial losses			$	12.1					$	10.8
Prior service benefits			(1.5)						(2.0)
Accumulated other comprehensive loss (before related tax benefit)			$	10.6					$	8.8

Expected benefit payments

The expected benefit payments through 2030 for the postretirement benefit plan are as follows:

			(Dollars in millions)
Year ending December 31:
2021			$	2.8
2022			$	2.6
2023			$	2.4
2024			$	2.2
2025			$	2.0
2026 through 2030			$	8.1

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets.

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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.

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