Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Employee Benefit Plans

Components of net periodic pension costs

	2012			2011			2010
Components of net periodic benefit costs:
Service cost	$	4.6		$	5.5		$	3.9
Interest cost		4.8			4.9			4.4
Expected return on plan assets		(4.0	)		(4.1	)		(3.4	)
Amortization of net loss		1.1			1.3			0.6
Net periodic benefit costs	$	6.5		$	7.6		$	5.5

Schedule of changes in benefit obligations and plan assets under defined pension plans, projected benefit obligation and funded status of the plans

The changes in benefit obligations and plan assets under the defined benefit pension plans, projected benefit obligation and funded status of the plans were as follows at December 31, (in millions):

	2012			2011
Change in benefit obligation:
Benefit obligation at beginning of year	$	153.5		$	151.7
Service cost		4.6			5.5
Interest cost		4.8			4.9
Plan participant contributions		3.4			3.4
Benefits paid		(5.0	)		(3.3	)
Actuarial loss (gain)		20.4			(7.7	)
Impact of foreign currency exchange rates		3.8			(1.0	)
Benefit obligation at end of year		185.5			153.5
Change in plan assets:
Fair value of plan assets at beginning of year		112.9			111.3
Return on plan assets		4.4			(2.1	)
Plan participant and employer contributions		8.7			7.6
Benefits paid		(5.0	)		(3.3	)
Impact of foreign currency exchange rates		2.9			(0.6	)
Fair value of plan assets at end of year		123.9			112.9
Net funded status	$	(61.6	)	$	(40.6	)

Schedule of amounts recognized in consolidated balance sheets

The following amounts were recognized in the accompanying consolidated balance sheets for the Company's defined benefit plans at December 31, (in millions):

	2012			2011
Current liabilities	$	(1.6	)	$	(1.4	)
Non-current liabilities		(60.0	)		(39.2	)
Net benefit obligation	$	(61.6	)	$	(40.6	)

Schedule of pre-tax amounts recognized in accumulated other comprehensive income

The following pre-tax amounts were recognized in accumulated other comprehensive income for the Company's defined benefit plans at December 31, (in millions):

	2012			2011
Reconciliation of amounts recognized in the consolidated balance sheets:
Net actuarial loss	$	(41.1	)	$	(22.2	)
Accumulated other comprehensive loss		(41.1	)		(22.2	)
Accumulated contributions in excess of net periodic benefit cost		(20.5	)		(18.4	)
Net amount recognized	$	(61.6	)	$	(40.6	)

Schedule of the range of assumptions used to determine projected benefit obligations

The range of assumptions used to determine the projected benefit obligations for the years ended December 31, are as follows:

	2012	2011	2010
Discount rate	0.8%-4.1%	1.1%-5.5%	1.2%-5.6%
Expected return on plan assets	3.5%	3.4%-4.0%	3.5%-4.3%
Expected rate of compensation increase	1.0%-3.8%	1.0%-3.8%	1.0%-3.0%

Schedule of the fair value of the Company's pension plan assets, by category and by level in fair value hierarchy

The fair value of the Company's pension plan assets at December 31, 2012 and 2011, by asset category and by level in the fair value hierarchy, is as follows (in millions):

December 31, 2012	Total		Quoted Prices in Active Markets Available (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Plan Assets:
Cash and cash equivalents (a)	$	12.1	$	12.1	$	—	$	—
Debt securities:
U.S. corporate (b)		1.3		1.3		—		—
Foreign corporations (c)		7.5		7.5		—		—
Foreign governments (c)		43.3		43.3		—		—
		52.1		52.1		—		—
Equity Securities:
Foreign corporations (d)		6.4		6.4		—		—
U.S. corporations (d)		31.4		31.4		—		—
		37.8		37.8		—		—
Real estate (e)		15.0		15.0		—		—
Mortgage and other asset-backed securities (f)		6.9		—		6.9		—
Total plan assets	$	123.9	$	117.0	$	6.9	$	—

December 31, 2011	Total		Quoted Prices in Active Markets Available (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Plan Assets:
Cash and cash equivalents (a)	$	8.3	$	8.3	$	—	$	—
Debt securities:
Foreign corporations (c)		12.5		12.5		—		—
Foreign governments (c)		36.9		36.9		—		—
		49.4		49.4		—		—
Equity Securities:
Foreign corporations (d)		28.6		28.6		—		—
U.S. corporations (d)		6.0		6.0		—		—
		34.6		34.6		—		—
Real estate (e)		13.9		13.9		—		—
Mortgage and other asset-backed securities (f)		6.7		—		6.7		—
Total plan assets	$	112.9	$	106.2	$	6.7	$	—

(a)

Cash and cash equivalents consist primarily of highly liquid investments, including cash on hand.

(b)

Our U.S. Corporate bond investments had an average rating of AA.

(c)

Our Foreign Corporate and Government bond investments had an average rating of AA.

(d)

U.S. and International equites primarily include investments in large market capitalization stocks.

(e)

Real estate includes Swiss public real estate funds which generate returns in line with the Swiss property market by investing in residential and commerical properties throughout Switzerland.

(f)

Mortgage and other asset-backed securities pool together various cash-flow producing financial assets typically collateralized by residential mortgages, commercial mortgages and other assets.

Schedule of estimated future benefit payments

The following benefit payments reflect future employee service as appropriate (in millions):

2013	$	7.3
2014		3.9
2015		3.9
2016		4.8
2017		4.8
2018-2022		31.4