v2.4.0.8

EMPLOYEE RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2013

EMPLOYEE RETIREMENT PLANS

Reconciliation of the beginning and ending balances of the projected benefit obligation for defined benefit plans

		Pension Benefits						OPEB
		As of December 31,
(In millions)		2013			2012			2013
Change in Benefit Obligation
Benefit obligation, beginning of year		$	168.5		$	147.3		$	-
Acquisitions			576.1			-			182.9
Service Costs			6.6			-			2.0
Interest cost			28.0			7.2			6.4
Actuarial loss (gain)			(57.0	)		19.1			(4.2	)
Foreign currency translation adjustment			(0.8	)		-			(0.1	)
Plan participants' contributions			-			-			3.4
Gross benefits paid			(32.5	)		(5.1	)		(9.8	)
Plan amendments			-			-			(82.7	)
Curtailments			(15.5	)		-			-
​	​	​	​	​	​	​	​	​	​	​
Benefit obligation, end of year		$	673.4		$	168.5		$	97.9
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Accumulated benefit obligation, end of year		$	670.7		$	168.5			NA
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Summary and reconciliation of the beginning and ending balances of the fair value of the plans' assets

		Pension Benefits						OPEB
		As of December 31,
(In millions)		2013			2012			2013
Change in Plan Assets
Fair value of plan assets, beginning of year		$	115.8		$	107.7		$	-
Acquisitions			506.7			-			-
Actual return on plan assets			68.2			12.8			-
Foreign currency translation adjustment			(0.7	)		-			-
Employer contribution			1.9			0.4			6.4
Plan participants' contributions			-			-			3.4
Gross benefits paid			(32.5	)		(5.1	)		(9.8	)
​	​	​	​	​	​	​	​	​	​	​
Fair value of plan assets, end of year		$	659.4		$	115.8		$	-
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Summary of the Plan's investments measured at fair value and the target and current allocation, by level within the fair value hierarchy

Asset Category		Target Allocation 2014			Percentage of Plan Assets, December 31, 2013			Total			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
(In millions, except percentages)
Short-term investment fund			-	%		1	%	$	5.7		$	-		$	5.7		$	-
Receivables									86.7			-			-			86.7
US Equity securities:
Consumer discretionary sector									6.6			6.6			-			-
Consumer staples sector									9.2			9.2			-			-
Energy sector									1.3			1.3			-			-
Finance sector									3.8			3.8			-			-
Health care sector									8.4			8.4			-			-
Index funds									93.6			-			93.6			-
Industrials sector									2.8			2.8			-			-
Information technology sector									7.3			7.3			-			-
Capital appreciation mutual fund									13.1			13.1			-			-
Small cap growth mutual fund									7.4			7.4			-			-
Pooled equity fund									47.8			-			47.8			-
Other									1.4			1.4			-			-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total US equity securities:			43	%		46	%		202.7			61.3			141.4			-
International equity securities:
Euro Pacific Growth fund									29.1			29.1			-			-
Emerging market index funds			5	%		4	%		62.8			5.1			57.7			-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total International equity securities			20	%		22	%		91.9			34.2			57.7			-
Fixed income securities:
Pimco total return, institutional									199.4			199.4			-			-
Other fixed income securities									65.2			2.8			62.4			-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total fixed income securities:			20	%		17	%		264.6			202.2			62.4			-
Long-biased hedge fund			10	%		9	%		6.7			-			-			6.7
Real estate partnership			2	%		1	%		1.1			-			-			1.1
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total								$	659.4		$	297.7		$	267.2		$	94.5
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​

Asset Category		Target Allocation 2013			Percentage of Plan Assets, December 31, 2012			Total			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
(In millions, except percentages)
Short-term investment fund						2	%	$	2.2		$	-		$	2.2		$	-
US. Equity Securities:
Consumer discretionary sector									1.7			1.7			-			-
Consumer staples sector									4.1			4.1			-			-
Energy sector									1.2			1.2			-			-
Finance sector									0.6			0.6			-			-
Health care sector									3.0			3.0			-			-
Industrials sector									1.1			1.1			-			-
Information technology sector									4.4			4.4			-			-
Capital appreciation mutual fund									6.4			6.4			-			-
Small cap growth mutual fund									5.1			5.1			-			-
Pooled equity fund									19.2			-			19.2			-
Other									0.8			0.8			-			-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total US equity securities:			43	%		41	%		47.6			28.4			19.2			-
International equity securities:
Euro Pacific Growth fund									25.0			25.0			-			-
Consumer staples sector									0.4			0.4			-			-
Emerging markets fund			5	%		5	%		5.3			5.3			-			-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total International equity securities			20	%		27	%		30.7			30.7			-			-
Fixed income securities:
Pimco total return institutional									22.9			22.9			-			-
Financial services sector									0.2			-			0.2			-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total fixed income securities:			20	%		20	%		23.1			22.9			0.2			-
Long-biased hedge fund			10	%		9	%		10.6			-			-			10.6
Real estate partnership			2	%		1	%		1.6			-			-			1.6
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total								$	115.8		$	82.0		$	21.6		$	12.2
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​

Funded status of the pension benefits reconciled to the amounts reported on the balance sheets

		Pension Benefits						OPEB
		As of December 31,
(In millions)		2013			2012			2013
Funded status, end of year:
Fair value of plan assets		$	659.4		$	115.8		$	-
Benefit obligations			673.4			168.5			97.9
​	​	​	​	​	​	​	​	​	​	​
Unfunded status		$	(14.0	)	$	(52.7	)	$	(97.9	)
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Amounts recognized in the balance sheets consist of:
Noncurrent asset		$	26.9		$	-		$	-
Current liability			(1.3	)		(0.4	)		(7.7	)
Noncurrent liability			(39.6	)		(52.3	)		(90.2	)
​	​	​	​	​	​	​	​	​	​	​
Amount recognized, end of year		$	(14.0	)	$	(52.7	)	$	(97.9	)
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Gross amounts recognized in accumulated other comprehensive income (loss) consist of:
Net actuarial gain (loss)		$	11.4		$	(77.5	)	$	4.2
Prior service credit (cost)			(0.1	)		(0.1	)		80.4
​	​	​	​	​	​	​	​	​	​	​
Amount recognized, end of year		$	11.3		$	(77.6	)	$	84.6
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Schedule of projected benefit obligation and fair value of plan assets for pension plans having projected benefit obligations in excess of the fair value of plan assets

		Pensions As of December 31,
(In millions)		2013			2012
Projected benefit obligation, end of year		$	430.5		$	168.5
Fair value of plan assets, end of year			389.6			115.8

Schedule of accumulated benefit obligation and fair value of plan assets for pension plans having accumulated benefit obligations in excess of the fair value of plan assets

		Pensions As of December 31,
(In millions)		2013			2012
Accumulated benefit obligaiton, end of year		$	417.6		$	168.5
Fair value of plan assets, end of year			378.9			115.8

Summarizes the changes in plan assets and benefit obligations which were recognized in other comprehensive income (loss)

		Pensions									OPEB
		As of December 31,
End of year:		2013			2012			2011			2013
Current year actuarial gain (loss)
Current year actuarial gain (loss)		$	102.2		$	(15.0	)	$	(22.1	)	$	4.2
Amortization of actuarial loss (gain)			(13.3	)		1.6			1.5			-
Current year prior service credit			-			-			-			82.6
Amortization of prior service credit			-			-			-			(2.3	)
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total recognized in other comprehensive income (loss)		$	88.9		$	(13.4	)	$	(20.6	)	$	84.5
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total recognized in net periodic benefit cost and other comprehensive income (loss)		$	106.2		$	(13.5	)	$	(20.0	)	$	78.5
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​

Schedule of estimated amount that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in the next fiscal year

(In millions)		Pensions			OPEB
Actuarial loss (gain)		$	(0.4	)	$	0.1
Prior service cost (credit)			-			(9.2	)
​	​	​	​	​	​	​	​
Total		$	(0.4	)	$	(9.1	)
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Schedule of net periodic benefit cost (income)

		Pensions									OPEB
		Year Ended December 31,
(In millions)		2013			2012			2011			2013
Components of net periodic benefit income(expense):
Service cost		$	(6.6	)	$	-		$	-		$	(2.0	)
Interest cost			(28.0	)		(7.2	)		(7.4	)		(6.4	)
Expected return on assets			38.5			8.7			9.5			-
Amortization of:
Prior service credit			-			-			-			2.3
Amortization of actuarial loss			(2.1	)		(1.7	)		(1.5	)		-
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total amortization			(2.1	)		(1.7	)		(1.5	)		2.3
Curtailment gain			15.5			-			-			-
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total net periodic benefit income (expense)		$	17.3		$	(0.2	)	$	0.6		$	(6.1	)
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​

Schedule of weighted average assumptions used to determine the benefit obligation

		Pensions						OPEB
		2013		2012		2011		2013
Discount rate		4.16%		5.00%		5.48%		4.39%
Expected return on assets		6.91%		8.25%		8.49%		Not Applicable
Rate of compensation increase		3.14%		Not Applicable		Not Applicable		3.11%

Schedule of expected benefit payments for all pension plans and postretirement welfare plans

(In millions)		Pension Benefits			OPEB (Gross)
Expected benefit payments:
2014		$	36.5		$	7.8
2015			37.4			7.8
2016			38.9			7.6
2017			40.0			7.5
2018			41.4			7.3
2019-2023			227.3			33.6

X

- Details

Name:	us-gaap_DefinedBenefitPensionPlansAndDefinedBenefitPostretirementPlansDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 3

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2417-114920

+ Details

Name:	us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (d)(5)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (s)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (k)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the aggregate benefit obligation and aggregate fair value of plan assets for pension plans and/or other employee benefit plans with benefit obligations in excess of plan assets as of the measurement date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 3

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2417-114920

+ Details

Name:	us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (f)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (h)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration