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Pension and Postretirement Benefit Costs
9 Months Ended
Sep. 30, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Pension and Postretirement Benefit Costs [Text Block]
 Pension and Postretirement Benefit Costs
Net periodic pension cost included the following components:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
 
(Dollars in millions)
Service cost for benefits earned
$
0.7

 
$
0.7

 
$
2.0

 
$
2.0

Interest cost on projected benefit obligation
10.3

 
10.1

 
31.0

 
30.3

Expected return on plan assets
(11.3
)
 
(12.0
)
 
(33.9
)
 
(36.1
)
Amortization of prior service cost and net actuarial loss
6.3

 
10.0

 
18.8

 
30.4

Net periodic pension cost
$
6.0

 
$
8.8

 
$
17.9

 
$
26.6


Annual contributions to the qualified plans are made in accordance with minimum funding standards and the Company's agreement with the Pension Benefit Guaranty Corporation (PBGC). Funding decisions also consider certain funded status thresholds defined by the Pension Protection Act of 2006 (generally 80%). As of September 30, 2016, the Company's qualified plans were expected to be at or above the Pension Protection Act thresholds and therefore are expected to avoid benefit restrictions and at-risk penalties for 2016. During the three and nine months ended September 30, 2016, the Company contributed $0.4 million and $0.5 million respectively, to its qualified pension plans. During the nine months ended September 30, 2016, the Company contributed $0.6 million to its non-qualified pension plans. On November 2, 2015, the Bipartisan Budget Act of 2015 (BBA15) was signed into law, which extends pension funding stabilization provisions that were part of the Highway and Transportation Funding Act of 2014 (HATFA) and the Moving Ahead for Progress in the 21st Century Act of 2012 (MAP-21). Under BBA15, the pension funding stabilization provisions temporarily increased the interest rates used to determine pension liabilities for purposes of minimum funding requirements through 2020. Similar to MAP-21, BBA15 is not expected to change the Company's total required cash contributions over the long term, but is expected to reduce the Company's required cash contributions through 2020 if current interest rate levels persist. Based upon minimum funding requirements in accordance with HATFA and BBA15, the Company expects to contribute approximately $0.5 million to its pension plans to meet minimum funding requirements for its qualified plans in 2016. Contributions to non-qualified pension plans ceased subsequent to April 12, 2016 as a result of filing the Bankruptcy Petitions.
Net periodic postretirement benefit cost included the following components:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
 
(Dollars in millions)
Service cost for benefits earned
$
2.6

 
$
2.8

 
$
7.8

 
$
8.4

Interest cost on accumulated postretirement benefit obligation
8.5

 
8.4

 
25.6

 
25.3

Amortization of prior service cost and net actuarial loss
2.4

 
4.6

 
7.1

 
13.6

Net periodic postretirement benefit cost
$
13.5

 
$
15.8

 
$
40.5

 
$
47.3