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Employee Benefit Plans
 3 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plans
Employee Benefit Plans
The Company provides certain pension, health care and death benefits to eligible retirees and their dependents. The funding mechanism for such benefits varies based on the country where the retiree resides and receives benefits.  Eligibility for pension coverage is based on retirement qualifications. Healthcare benefits may be subject to deductibles, co-payments and other limitations. The Company reserves the right to modify benefits unless a government agency in a certain country prohibits it from doing so.
As part of the Spin-Off, and in accordance with the employee matters agreement referred to in Note 2, “Discontinued Operations,” certain combined plans were split between MTW and MFS. Accordingly, the Company transferred to MFS pension obligations associated with active, retired and other former employees of MFS for those impacted MFS-related defined benefit pension plans. The allocation of plan assets was determined in accordance with applicable Employee Retirement Income Security Act of 1974, Internal Revenue Service and other jurisdictional requirements.
The components of periodic benefit costs for three months ended March 31, 2017 and March 31, 2016 are as follows:
 
 
Three Months Ended March 31, 2017
 
 
 
 
 
 
Postretirement
 
 
U.S.
 
Non-U.S.
 
Health and
 
 
Pension
 
Pension
 
Other
(in millions)
 
Plans
 
Plans
 
Plans
Service cost - benefits earned during the period
 
$
—

 
$
0.4

 
$
0.1

Interest cost of projected benefit obligations
 
1.3

 
0.6

 
0.2

Expected return on plan assets
 
(1.2
)
 
(0.4
)
 
—

Amortization of prior service cost
 
—

 
—

 
(0.3
)
Amortization of actuarial net loss
 
0.8

 
0.4

 
0.1

Net periodic benefit costs
 
$
0.9

 
$
1.0

 
$
0.1

 
 
Three Months Ended March 31, 2016
 
 
 
 
 
 
Postretirement
 
 
U.S.
 
Non-U.S.
 
Health and
 
 
Pension
 
Pension
 
Other
(in millions)
 
Plans
 
Plans
 
Plans
Service cost - benefits earned during the period
 
$
—

 
$
0.5

 
$
0.1

Interest cost of projected benefit obligations
 
2.2

 
1.6

 
0.5

Expected return on plan assets
 
(1.7
)
 
(1.2
)
 
—

Amortization of actuarial net loss
 
1.1

 
0.4

 
—

Net periodic benefit costs
 
1.6

 
1.3

 
0.6

Net periodic benefit costs associated with MFS
 
0.4

 
0.4

 
0.1

Net periodic benefit costs included in continuing operations
 
$
1.2

 
$
0.9

 
$
0.5