XML 58 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Retirement Plans
6 Months Ended
Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract]  
Retirement Plans
Retirement Plans
Pension Plans
During the six months ended June 30, 2012 we contributed $2.8 million to our worldwide pension plans. We presently anticipate contributing approximately $4 million to $7 million to fund our worldwide pension plans during the remainder of 2012.
In connection with actions taken under our announced restructuring programs, the number of employees accumulating benefits under our pension plan in the United States continues to decline. Participants in our U.S. defined benefit pension plan have the option of receiving cash lump sum payments when exiting the plan, which a number of participants exiting the plan have elected to receive. Lump sum payments for the six months ended June 30, 2012 have exceeded our expected 2012 service and interest costs. As a result, a partial settlement event occurred during the three months ended June 30, 2012 and we recognized a loss of $1.5 million. A settlement loss of $1.0 million was recognized for the three months ended June 30, 2011. These settlement losses are included in restructuring and other in our Condensed Consolidated Statements of Operations. Additionally, in connection with the settlement and as required by pension accounting, we remeasured the funded status of our U.S. defined benefit plan as of June 30, 2012.
Components of net periodic pension cost included the following:
 
 
United States
 
International
 
United States
 
International
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In millions)
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Service cost
 
$

 
$

 
$
0.1

 
$
0.1

 
$

 
$

 
$
0.2

 
$
0.2

Interest cost
 
0.8

 
1.1

 

 
0.7

 
1.6

 
2.2

 

 
1.4

Expected return on plan assets
 
(1.4
)
 
(1.6
)
 

 
(0.9
)
 
(2.9
)
 
(3.1
)
 

 
(1.7
)
Amortization of net actuarial loss
 
0.3

 
0.3

 
0.1

 
0.1

 
0.6

 
0.4

 
0.2

 
0.2

Amortization of prior service (credit) cost
 

 

 

 
(0.1
)
 

 

 

 
(0.2
)
Net periodic pension cost (credit)
 
$
(0.3
)
 
$
(0.2
)
 
$
0.2

 
$
(0.1
)
 
$
(0.7
)
 
$
(0.5
)
 
$
0.4

 
$
(0.1
)
Settlement
 
1.5

 
1.0

 

 

 
1.5

 
1.0

 

 

Total pension cost (credit)
 
$
1.2

 
$
0.8

 
$
0.2

 
$
(0.1
)
 
$
0.8

 
$
0.5

 
$
0.4

 
$
(0.1
)