Retirement Plans

9 Months Ended

Sep. 30, 2016

Compensation and Retirement Disclosure [Abstract]

Retirement Plans

Retirement Plans

Pension Plans

During the three and nine months ended September 30, 2016, consistent with the funding requirements of our worldwide pension plans, we did not make any contributions to such plans. Effective January 1, 2010, the U.S. plan was amended to exclude new hires and rehires from participating in the plan. In addition, we eliminated benefit accruals under the U.S. plan as of January 1, 2011, thus “freezing” the defined benefit pension plan. Under the plan freeze, no pay credits were made to a participant’s account balance after December 31, 2010. However, interest credits will continue in accordance with the annual update process. We do not presently anticipate contributing any significant amounts to fund our worldwide pension plans during the remainder of 2016.

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 three months ended September 30, 2016 have exceeded our expected 2016 interest costs. As a result, a partial settlement event occurred during the three months and nine months ended September 30, 2016 and we recognized a settlement loss of $0.3 million and $2.6 million, respectively. These settlement losses are included in restructuring and other in our Condensed Consolidated Statements of Operations.

Components of net periodic pension (credit) cost included the following:

	United States						International					United States						International
	Three Months Ended September 30,											Nine Months Ended September 30,
(In millions)	2016			2015			2016		2015			2016			2015			2016		2015
Service cost	$	—		$	—		$	—	$	0.1		$	—		$	—		$	—	$	0.3
Interest cost	0.7			0.8			—		0.2			2.2			2.2			—		0.4
Expected return on plan assets	(0.9		)	(1.1		)	—		(0.2		)	(2.8		)	(3.1		)	—		(0.6		)
Amortization of net actuarial loss	0.1			0.3			—		—			0.3			0.9			—		0.2
Amortization of prior service credit	—			—			—		—			—			—			—		—
Net periodic pension (credit) cost	$	(0.1	)	$	—		$	—	$	0.1		$	(0.3	)	$	—		$	—	$	0.3
Settlement loss	0.3			1.0			—		—			2.6			1.0			—		—
Curtailment gain	—			—			—		—			—			—			—		—
Total pension cost	$	0.2		$	1.0		$	—	$	0.1		$	2.3		$	1.0		$	—	$	0.3