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Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2011

The components of net periodic benefit cost and other amounts recognized in other comprehensive income were as follows:

	Pension benefits									Other retirement benefits
($ in millions)	2011			2010			2009			2011		2010			2009
Net periodic benefit cost:
Service cost	$	8.9		$	8.6		$	7.8		$	1.2	$	1.1		$	0.8
Interest cost		16.0			15.7			14.9			1.0		0.8			0.9
Expected return on assets		(16.0	)		(14.7	)		(11.9	)		-		-			-
Amortization of prior service (credit) cost		(1.5	)		(1.1	)		(1.1	)		0.1		0.1			0.1
Amortization of transition obligation		0.1			0.1			0.1			-		-			-
Recognized actuarial losses (gains)		6.0			5.6			7.0			-		(0.1	)		-
Curtailment		(0.2	)		-			-			-		-			-
Settlement effects		0.8			-			-			-		-			-
Net periodic benefit cost	$	14.1		$	14.2		$	16.8		$	2.3	$	1.9		$	1.8

Other changes in plan assets and benefit obligations recognized in other comprehensive income, pre-tax:
Net loss (gain) arising during period	$	46.7		$	9.1		$	(2.9	)	$	1.3		$	(1.5	)	$	1.8
Prior service credit arising during period		-			(5.2	)		-			-			-			-
Amortization of prior service credit (cost)		1.5			1.1			1.1			(0.1	)		(0.1	)		(0.1	)
Amortization of transition obligation		(0.1	)		(0.1	)		(0.1	)		-			-			-
Amortization of actuarial (loss) gain		(6.0	)		(5.6	)		(7.0	)		-			0.1			-
Curtailment		0.2			-			-			0.4			-			-
Settlement effects		(0.8	)		-			-			-			-			-
Total recognized in other comprehensive income	$	41.5		$	(0.7	)	$	(8.9	)	$	1.6		$	(1.5	)	$	1.7
Total recognized in net periodic benefit cost and other comprehensive income	$	55.6		$	13.5		$	7.9		$	3.9		$	0.4		$	3.5

Net periodic benefit cost by geographic location is as follows:

	Pension benefits						Other retirement benefits
($ in millions)	2011		2010		2009		2011		2010		2009
U.S. plans	$	11.4	$	11.7	$	14.9	$	2.3	$	1.9	$	1.8
International plans		2.7		2.5		1.9		-		-		-
Net periodic benefit cost	$	14.1	$	14.2	$	16.8	$	2.3	$	1.9	$	1.8

Changes in projected benefit obligation

The following tables present the changes in the projected benefit obligation and the fair value of plan assets, as well as the funded status of the plans:

	Pension benefits						Other retirement benefits
($ in millions)	2011			2010			2011			2010
Change in benefit obligation:
Benefit obligation, January 1	$	(283.5	)	$	(262.8	)	$	(18.1	)	$	(18.1	)
Service cost		(8.9	)		(8.6	)		(1.2	)		(1.1	)
Interest cost		(16.0	)		(15.7	)		(1.0	)		(0.9	)
Participants’ contributions		-			-			(0.3	)		(0.4	)
Actuarial (loss) gain		(27.3	)		(15.9	)		(1.4	)		1.5
Amendments/transfers in		(0.4	)		5.2			-			-
Benefits/expenses paid		16.4			12.4			0.7			0.9
Curtailment		(0.8	)		-			(0.4	)
Foreign currency translation		0.6			1.9			-			-
Benefit obligation, December 31	$	(319.9	)	$	(283.5	)	$	(21.7	)	$	(18.1	)

Change in plan assets:
Fair value of assets, January 1	$	212.3		$	193.5		$	-		$	-
Actual return on assets		(2.8	)		21.6			-			-
Employer contribution		20.4			10.3			0.4			0.5
Participants’ contribution		-			-			0.3			0.4
Benefits/expenses paid		(16.4	)		(12.5	)		(0.7	)		(0.9	)
Foreign currency translation		(0.2	)		(0.6	)		-			-
Fair value of assets, December 31	$	213.3		$	212.3		$	-		$	-

Funded status at end of year	$	(106.6	)	$	(71.2	)	$	(21.7	)	$	(18.1	)

Amount recognized in the balance sheet

Amounts recognized in the balance sheet were as follows:

	Pension benefits						Other retirement benefits
($ in millions)	2011			2010			2011			2010
Current liabilities	$	(1.2	)	$	(1.1	)	$	(1.1	)	$	(1.0	)
Noncurrent liabilities		(105.4	)		(70.1	)		(20.6	)		(17.1	)
	$	(106.6	)	$	(71.2	)	$	(21.7	)	$	(18.1	)

The amounts in accumulated other comprehensive loss, pre-tax, consisted of:

	Pension benefits						Other retirement benefits
($ in millions)	2011			2010			2011		2010
Net actuarial loss (gain)	$	131.3		$	92.1		$	0.2	$	(1.5	)
Transition obligation		0.4			0.5			-		-
Prior service (credit) cost		(10.2	)		(12.7	)		0.1		0.2
Total	$	121.5		$	79.9		$	0.3	$	(1.3	)

Estimated future benefit payments

Benefit payments expected to be paid under our defined benefit pension plans in the next ten years are as follows:

($ in millions)	Domestic Plans		International Plans		Total
2012	$	15.5	$	1.2	$	16.7
2013		16.7		1.4		18.1
2014		19.4		1.6		21.0
2015		20.9		1.6		22.5
2016		22.3		2.1		24.4
2017 to 2021		130.2		14.1		144.3
	$	225.0	$	22.0	$	247.0

Weighted-average assumption used to determine benefit obligation and net periodic benefit cost

Weighted average assumptions used to determine net periodic benefit cost were as follows:

	Pension benefits									Other retirement benefits
	2011			2010			2009			2011			2010			2009
Discount rate		5.55	%		5.92	%		6.38	%		5.25	%		5.25	%		6.25	%
Rate of compensation increase		4.33	%		4.36	%		4.37	%		-			-			-
Long-term rate of return on assets		7.59	%		7.60	%		7.66	%		-			-			-

Weighted average assumptions used to determine the benefit obligations were as follows:

	Pension benefits						Other retirement benefits
	2011			2010			2011			2010
Discount rate		4.87	%		5.61	%		4.50	%		5.25	%
Rate of compensation increase		4.33	%		4.36	%		-			-

Weighted-average asset allocation

The weighted average asset allocations by asset category for our pension plans, at December 31, were as follows:

	2011			2010
Equity securities		68	%		69	%
Debt securities		31	%		31	%
Other		1	%		-
		100	%		100	%

The following are our target asset allocations and acceptable allocation ranges:

	Target allocation			Allocation range
Equity securities		65	%		60%-70	%
Debt securities		35	%		30%-40	%
Other		0	%		0%-5	%

Fair value of plan assets

The following tables present the fair value of our pension plan assets, utilizing the fair value hierarchy discussed in Note 13, Fair Value Measurements:

	Balance at
	December 31,		Basis of Fair Value Measurements
($ in millions)	2011		Level 1		Level 2		Level 3
Cash	$	0.2	$	0.2	$	-	$	-
Equity securities:
Indexed mutual funds		102.2		102.2		-		-
International mutual funds		40.0		40.0		-		-
Fixed income securities:
Mutual funds		65.6		65.6		-		-
Insurance contract		1.3		-		1.3		-
Balanced mutual fund		4.0		4.0		-		-
	$	213.3	$	212.0	$	1.3	$	-

	Balance at
	December 31,			Basis of Fair Value Measurements
($ in millions)	2010			Level 1			Level 2		Level 3
Cash overdrafts	$	(0.6	)	$	(0.6	)	$	-	$	-
Equity securities:
Indexed mutual funds		108.1			108.1			-		-
International mutual funds		37.7			37.7			-		-
Fixed income securities:
Mutual funds		65.6			65.6			-		-
Insurance contract		1.5			-			1.5		-
	$	212.3		$	210.8		$	1.5	$	-