XML 22 R13.htm IDEA: XBRL DOCUMENT
v3.20.1

Pension and Postretirement Benefits | 3 Months Ended
--- | ---
Mar. 31, 2020
Retirement Benefits [Abstract] |
Pension and Postretirement Benefits | Pension and Postretirement Benefits Net periodic pension expense for the three months ended March 31, 2020 and 2019 is presented below:
|  | Three Months Ended March 31, 2020 |  | Three Months Ended March 31, 2019
|  | Total |  | U.S. Plans |  | International Plans |  | Total |  | U.S. Plans |  | International Plans
Service cost(i) |  | $ | 0.7 |  |  | $ | — |  |  | $ | 0.7 |  |  | $ | 0.7 |  |  | $ | — |  |  | $ | 0.7 |
Interest cost |  | 53.8 |  |  | 40.4 |  |  | 13.4 |  |  | 66.7 |  |  | 49.2 |  |  | 17.5 |
Expected return on plan assets |  | (75.1 | ) |  | (52.3 | ) |  | (22.8 | ) |  | (81.2 | ) |  | (54.5 | ) |  | (26.7 | )
Amortization of prior service benefit |  | (1.2 | ) |  | (0.6 | ) |  | (0.6 | ) |  | (1.2 | ) |  | (0.6 | ) |  | (0.6 | )
Recognized net actuarial loss |  | 44.3 |  |  | 33.5 |  |  | 10.8 |  |  | 37.6 |  |  | 28.9 |  |  | 8.7 |
Net periodic pension expense (benefit) |  | $ | 22.5 |  |  | $ | 21.0 |  |  | $ | 1.5 |  |  | $ | 22.6 |  |  | $ | 23.0 |  |  | $ | (0.4 | )
(i)Service cost is reported in selling, general and administrative expense. All other components of net periodic pension expense are reported in other income (expense), net in the consolidated statements of income.
In 2020, the company expects to make cash contributions of approximately $640 million to its worldwide defined benefit pension plans, which are comprised of $600 million for the company’s U.S. qualified defined benefit pension plans and $40 million primarily for the company’s international defined benefit pension plans. In 2019, the company made cash contributions of $103.9 million to its worldwide defined benefit pension plans. For the three months ended March 31, 2020 and 2019, the company made cash contributions of $325.6 million and $21.2 million, respectively. Net periodic postretirement benefit expense for the three months ended March 31, 2020 and 2019 is presented below:
|  | Three Months Ended March 31,
|  | 2020 |  | 2019
Service cost(i) |  | $ | 0.1 |  |  | $ | 0.1 |
Interest cost |  | 1.1 |  |  | 1.2 |
Expected return on assets |  | (0.1 | ) |  | (0.1 | )
Recognized net actuarial loss |  | 0.3 |  |  | 0.1 |
Amortization of prior service benefit |  | (0.4 | ) |  | (0.4 | )
Net periodic postretirement benefit expense |  | $ | 1.0 |  |  | $ | 0.9 |
(i)Service cost is reported in selling, general and administrative expense. All other components of net periodic postretirement benefit expense are reported in other income (expense), net in the consolidated statements of income.
The company expects to make cash contributions of approximately $7.0 million to its postretirement benefit plans in 2020 compared to $5.5 million in 2019. For the three months ended March 31, 2020 and 2019, the company made cash contributions of $2.1 million and $1.9 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration