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Pension and Other Retiree Benefits (Tables)
12 Months Ended
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Amounts Recognized in Balance Sheet Net Funded Status
The following table sets forth our defined benefit pension and post-retirement plans funded status and the amounts recognized in our Consolidated Balance Sheets:
PensionPost-retirement
U.S.International
(in millions)202020192020201920202019
Change in projected benefit obligation (PBO)
Projected benefit obligation at beginning of year$211.6 $188.3 $690.7 $627.3 $5.3 $6.2 
Service cost1.6 1.3 1.5 1.3 — — 
Interest cost5.9 7.4 9.7 13.4 0.1 0.2 
Actuarial loss (gain)17.9 25.2 60.7 67.6 — (0.9)
Participants’ contributions— — 0.1 0.1 0.1 0.1 
Benefits paid(10.9)(10.6)(27.6)(28.6)(0.5)(0.4)
Settlement— — (27.4)(0.4)— — 
Foreign exchange rate changes— — 41.0 10.0 0.1 0.1 
Projected benefit obligation at end of year226.1 211.6 748.7 690.7 5.1 5.3 
Change in plan assets
Fair value of plan assets at beginning of year158.0 141.1 460.3 417.6 — — 
Actual return on plan assets18.6 21.9 45.0 45.5 — — 
Employer contributions4.9 5.6 14.2 14.1 0.4 0.3 
Participants’ contributions— — 0.1 0.1 0.1 0.1 
Benefits paid(10.9)(10.6)(27.6)(28.7)(0.5)(0.4)
Settlement— — (27.4)(0.4)— — 
Foreign exchange rate changes— — 20.2 12.1 — — 
Fair value of plan assets at end of year170.6 158.0 484.8 460.3 — — 
Funded status (Fair value of plan assets less PBO)$(55.5)$(53.6)$(263.9)$(230.4)$(5.1)$(5.3)
Amounts recognized in the Consolidated Balance Sheets consist of:
Other non-current assets$— $— $0.6 $1.2 $— $— 
Other current liabilities— — 7.5 6.8 0.5 0.5 
Pension and post-retirement benefit obligations55.5 53.6 257.0 224.8 4.6 4.8 
Components of accumulated other comprehensive income, net of tax:
Unrecognized actuarial loss (gain)110.0 74.1 208.3 129.8 (4.4)(4.0)
Unrecognized prior service cost (credit)1.5 1.4 6.4 4.9 (0.1)(0.2)
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The following table sets out information for pension plans with an accumulated benefit obligation in excess of plan assets:
U.S.International
(in millions)2020201920202019
Accumulated benefit obligation$226.1 $211.6 $716.0 $638.4 
Fair value of plan assets170.6 158.0 463.7 417.5 
Schedule of Defined Benefit Plan, Plan with Projected Benefit Obligations in Excess of Plan Assets [Table Text Block]
The following table sets out information for pension plans with a projected benefit obligation in excess of plan assets:
U.S.International
(in millions)2020201920202019
Projected benefit obligation$226.1 $211.6 $728.3 $649.1 
Fair value of plan assets170.6 158.0 463.7 417.5 
Components of Net Periodic Benefit (Income) Expense for Pension and Post-Retirement Plans
The components of net periodic benefit (income) expense for pension and post-retirement plans for the years ended December 31, 2020, 2019, and 2018, were as follows:
PensionPost-retirement
U.S.International
(in millions)202020192018202020192018202020192018
Service cost$1.6 $1.3 $1.6 $1.5 $1.3 $1.9 $— $— $0.1 
Interest cost5.9 7.4 6.7 9.7 13.4 12.9 0.1 0.2 0.2 
Expected return on plan assets(11.4)(11.7)(11.8)(18.6)(20.5)(22.7)— — — 
Amortization of net loss (gain)3.2 2.2 2.7 4.9 3.3 3.4 (0.5)(0.4)(0.4)
Amortization of prior service cost (credit)0.4 0.4 0.4 0.3 0.3 — — — (0.1)
Curtailment gain— — — — — (0.6)— — — 
Settlement loss— — — 0.4 0.1 — — — — 
Net periodic benefit income(1)
$(0.3)$(0.4)$(0.4)$(1.8)$(2.1)$(5.1)$(0.4)$(0.2)$(0.2)
(1)    The components, other than service cost, are included in the line "Non-operating pension income" in the Consolidated Statements of Income
Schedule of Defined Benefit Plan Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Other changes in plan assets and benefit obligations that were recognized in accumulated other comprehensive income (loss) during the years ended December 31, 2020, 2019, and 2018 were as follows:
PensionPost-retirement
U.S.International
(in millions)202020192018202020192018202020192018
Current year actuarial loss (gain)$10.6 $15.0 $12.0 $36.5 $43.3 $5.3 $— $(1.0)$(0.3)
Amortization of actuarial (loss) gain(3.2)(2.2)(2.7)(5.3)(3.3)(3.4)0.5 0.4 0.4 
Current year prior service cost— — — — — 6.5 — — — 
Amortization of prior service (cost) credit(0.4)(0.4)(0.4)(0.3)(0.3)0.3 — — 0.1 
Foreign exchange rate changes— — — 8.5 3.4 (7.1)— — 0.1 
Total recognized in other comprehensive income (loss)$7.0 $12.4 $8.9 $39.4 $43.1 $1.6 $0.5 $(0.6)$0.3 
Total recognized in net periodic benefit cost (income) and other comprehensive income (loss)$6.7 $12.0 $8.5 $37.6 $41.0 $(3.5)$0.1 $(0.8)$0.1 
Schedule of Assumptions Used
The weighted average assumptions used to determine benefit obligations for the years ended December 31, 2020, 2019, and 2018 were as follows:
PensionPost-retirement
U.S.International
202020192018202020192018202020192018
Discount rate2.6 %3.3 %4.6 %1.2 %1.8 %2.5 %1.9 %2.7 %3.7 %
Rate of compensation increaseN/AN/AN/A2.9 %2.9 %3.0 %N/AN/AN/A

The weighted average assumptions used to determine net periodic benefit (income) expense for the years ended December 31, 2020, 2019, and 2018 were as follows:
PensionPost-retirement
U.S.International
202020192018202020192018202020192018
Discount rate3.2 %4.0 %3.5 %1.6 %2.4 %2.1 %2.7 %3.6 %3.2 %
Expected long-term rate of return7.0 %7.4 %7.4 %4.2 %5.0 %5.0 %N/AN/AN/A
Rate of compensation increaseN/AN/AN/A2.9 %3.0 %2.8 %N/AN/AN/A
The weighted average health care cost trend rates used to determine post-retirement benefit obligations and net periodic benefit (income) expense as of December 31, 2020, 2019, and 2018 were as follows:
Post-retirement
202020192018
Health care cost trend rate assumed for next year%%%
Rate that the cost trend rate is assumed to decline (the ultimate trend rate)%%%
Year that the rate reaches the ultimate trend rate202820272026
Schedule of Allocation of Plan Assets
Our pension plan weighted average asset allocations as of December 31, 2020 and 2019 were as follows:
20202019
U.S.InternationalU.S.International
Asset category
Equity securities64 %21 %56 %13 %
Fixed income29 54 33 46 
Real estate
Other(2)
21 38 
Total100 %100 %100 %100 %

(2)Multi-strategy hedge funds, insurance contracts and cash and cash equivalents for certain of our plans.
Schedule of Expected Benefit Payments
The following table presents estimated future benefit payments to participants for the next ten fiscal years:
PensionPost-retirement
(in millions)BenefitsBenefits
2021$41.4 $0.5 
202241.8 0.4 
202342.4 0.4 
202442.8 0.4 
202543.8 0.4 
Years 2026 - 2030223.5 1.7 
Schedule of Multi-employer Plans Details regarding the plan are outlined in the table below.
Pension Protection Act Zone StatusFIP/RP Status Pending/ImplementedContributionsExpiration Date of Collective-Bargaining Agreement
Year Ended December 31,
Pension FundEIN/Pension Plan Number20202019202020192018Surcharge Imposed
PACE Industry Union-Management Pension Fund11-6166763 / 001RedRedImplemented$0.1 $0.2 $0.3 Yes6/30/2023
U.S.  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Allocation of Plan Assets
U.S. Pension Plan Assets

The fair value measurements of our U.S. pension plan assets by asset category as of December 31, 2020 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)
Fair Value
as of
December 31,
2020
Mutual funds$94.8 $— $— $94.8 
Exchange traded funds74.6 — — 74.6 
Common collective trust funds— 1.2 — 1.2 
Total$169.4 $1.2 $— $170.6 
The fair value measurements of our U.S. pension plan assets by asset category as of December 31, 2019 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)
Fair Value
as of
December 31,
2019
Mutual funds$103.2 $— $— $103.2 
Exchange traded funds48.4 — — 48.4 
Common collective trust funds— 1.5 — 1.5 
Investments measured at net asset value(3)
Multi-strategy hedge funds4.9 
Total$151.6 $1.5 $— $158.0 

(3)Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the table that presents our defined benefit pension and post-retirement plans funded status.
International  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Allocation of Plan Assets
International Pension Plans Assets

The fair value measurements of our international pension plans assets by asset category as of December 31, 2020 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)
Fair Value
as of
December 31,
2020
Cash and cash equivalents$8.5 $— $— $8.5 
Equity securities99.9 — — 99.9 
Exchange traded funds0.5 — — 0.5 
Corporate debt securities— 85.6 — 85.6 
Multi-strategy hedge funds— 57.8 — 57.8 
Insurance contracts— 4.1 — 4.1 
Real estate— 9.7 — 9.7 
Government debt securities— 180.9 — 180.9 
Investments measured at net asset value(3)
Multi-strategy hedge funds29.8 
Real estate8.0 
Total$108.9 $338.1 $— $484.8 
The fair value measurements of our international pension plans assets by asset category as of December 31, 2019 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)
Fair Value
as of
December 31,
2019
Cash and cash equivalents$1.4 $— $— $1.4 
Equity securities59.9 — — 59.9 
Exchange traded funds0.4 — — 0.4 
Corporate debt securities— 79.3 — 79.3 
Multi-strategy hedge funds— 85.9 — 85.9 
Insurance contracts— 29.6 — 29.6 
Real estate— 3.9 — 3.9 
Government debt securities— 132.5 — 132.5 
Investments measured at net asset value(3)
Multi-strategy hedge funds57.0 
Real estate10.4 
Total$61.7 $331.2 $— $460.3