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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Changes in Benefit Obligations and Plan Assets
The following table presents the changes in benefit obligations and plan assets for pension benefits and other postretirement benefits, as well as the end-of-period accumulated benefit obligation, including amounts related to discontinued operations, for the years ended December 31, 2021 and 2022 (in millions):
 Pension BenefitsOther Postretirement Benefits
 2021202220212022
Change in benefit obligations:
Benefit obligations at beginning of year$443.6 $423.4 $17.3 $17.8 
Service cost28.2 27.2 0.3 0.3 
Interest cost9.5 10.7 0.4 0.4 
Plan participants’ contributions— — 0.8 0.8 
Actuarial (gain) loss(19.4)(124.6)0.9 (6.6)
Benefits paid(29.2)(2.5)(1.9)(2.0)
Settlement payments(9.3)(57.3)— — 
Benefit obligations at end of year423.4 276.9 17.8 10.7 
Change in plan assets:
Fair value of plan assets at beginning of year295.7 294.5 — — 
Employer contributions27.6 39.0 1.1 1.2 
Plan participants’ contributions— — 0.8 0.8 
Actual return on plan assets9.7 (74.7)— — 
Benefits paid(29.2)(2.5)(1.9)(2.0)
Settlement payments(9.3)(57.3)— — 
Fair value of plan assets at end of year294.5 199.0 — — 
Funded status at end of year$(128.9)$(77.9)$(17.8)$(10.7)
Accumulated benefit obligations$305.0 $211.5 
Pension Plans with Obligations in Excess of Assets
The following table summarizes information for pension plans with obligations in excess of plan assets (in millions):
December 31,
20212022
Plans with a projected benefit obligation in excess of plan assets:
Projected benefit obligation$423.4 $276.9 
Fair value of plan assets$294.5 $199.0 
Plans with an accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$305.0 $171.9 
Fair value of plan assets$294.5 $159.2 
Amounts Recognized in Consolidated Balance Sheets
Amounts recognized in the consolidated balance sheets included in these financial statements were as follows (in millions):
 Pension BenefitsOther Postretirement Benefits
 2021202220212022
Amounts recognized in consolidated balance sheets:
Current accrued benefit cost$— $— $1.7 $1.2 
Long-term pension and benefits128.9 77.9 16.1 9.5 
128.9 77.9 17.8 10.7 
Accumulated other comprehensive loss:
Net actuarial loss(95.3)(44.6)(10.7)(3.7)
Prior service credit2.5 2.3 — — 
(92.8)(42.3)(10.7)(3.7)
Net amount of liabilities and accumulated other comprehensive loss recognized in consolidated balance sheets$36.1 $35.6 $7.1 $7.0 
Consolidated Net Periodic Benefit Costs
Net periodic benefit expense for the years ended December 31, 2020, 2021 and 2022 was as follows (in millions): 
 Pension BenefitsOther Postretirement Benefits
 202020212022202020212022
Components of net periodic benefit costs:
Service cost$27.7 $28.2 $27.2 $0.3 $0.3 $0.3 
Interest cost11.0 9.5 10.7 0.5 0.4 0.4 
Expected return on plan assets(11.4)(11.9)(12.8)— — — 
Amortization of prior service credit(0.2)(0.2)(0.2)— — — 
Amortization of actuarial loss5.4 5.4 4.2 0.4 0.6 0.4 
Settlement cost1.0 2.6 9.5 — — — 
Settlement gain on disposition of assets(1.3)— — — — — 
Net periodic benefit cost$32.2 $33.6 $38.6 $1.2 $1.3 $1.1 
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during 2020, 2021 and 2022 were as follows (in millions):
 Pension BenefitsOther Postretirement Benefits
 202020212022202020212022
Beginning balance$(104.7)$(117.8)$(92.8)$(8.4)$(10.4)$(10.7)
Net actuarial gain (loss)(21.0)17.2 37.1 (2.5)(0.9)6.6 
Recognition of prior service credit amortization in income(0.2)(0.2)(0.2)— — — 
Recognition of actuarial loss amortization in income5.4 5.4 4.2 0.5 0.6 0.4 
Curtailment gain1.7 — — — — — 
Settlement cost1.0 2.6 9.5 — — — 
Amount recognized in other comprehensive loss(13.1)25.0 50.6 (2.0)(0.3)7.0 
Ending balance$(117.8)$(92.8)$(42.2)$(10.4)$(10.7)$(3.7)
Weighted-Average Rate Assumptions Used and Investment Strategies
The weighted average rate assumptions used to determine projected benefit obligations were as follows:
 Pension BenefitsOther Postretirement Benefits
 2021202220212022
Discount rate2.61%4.79%2.64%4.98%
Rate of compensation increase6.51%4.42%n/an/a
Cash balance interest crediting rate1.94%3.55%n/an/a

The weighted average rate assumptions used to determine net pension and other postretirement benefit plans expense were as follows:
 
Pension BenefitsOther Postretirement Benefits
 For the Year Ended December 31,For the Year Ended December 31,
 202020212022202020212022
Discount rate3.01%2.23%2.61%3.06%2.30%2.64%
Rate of compensation increase4.58%4.53%6.51%n/an/an/a
Expected rate of return on plan assets4.50%4.10%4.40%n/an/an/a
Cash balance interest crediting rate2.16%1.70%1.94%n/an/an/a
The investment strategies for the various funds held as pension plan assets by asset category are as follows: 
Asset CategoryFund’s Investment Strategy
Domestic equity securities:
Small-cap fundSeeks to track performance of the Center for Research in Security Prices (“CRSP”) US Small Cap Index
Mid-cap fundSeeks to track performance of the CRSP US Mid Cap Index
Large-cap fundSeeks to track performance of the Standard & Poor’s 500 Index
International equity fundSeeks to track performance of the FTSE Global All Cap ex US Index
Fixed income securities:
Short-term bond fundSeeks current income with limited price volatility through investment in primarily high quality bonds with short-term maturities
Intermediate-term bond fundSeeks moderate and sustainable level of current income by investing primarily in high quality fixed income securities with maturities from five to ten years
Long-term investment grade bond fundsSeek high and sustainable current income through investment primarily in long-term investment grade debt securities
Other:
Short-term investment fundsSeeks maximum current income by investing exclusively in Short Term U.S. Government Securities and repurchase agreements secured by U.S. government securities
Group annuity contractEarns interest quarterly equal to the effective yield of the 91-day U.S. Treasury bill
Fair Value and Allocation of Pension Plan Assets
The fair values of the pension plan assets at December 31, 2021 were as follows (in millions):
Asset CategoryTotalQuoted Prices in Active  Markets for
Identical Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Domestic equity securities:(1)
Small-cap fund$6.1 $6.1 $— $— 
Mid-cap fund6.0 6.0 — — 
Large-cap fund48.0 48.0 — — 
International equity fund30.1 30.1 — — 
Fixed income securities:(1)
Long-term investment grade bond funds197.1 197.1 — — 
Other:
Short-term investment fund7.0 7.0 — — 
Group annuity contract0.2 — — 0.2 
Fair value of plan assets$294.5 $294.3 $— $0.2 
(1) We hold equity and fixed income securities through investments in mutual funds, which are dedicated to each category as indicated.

The fair values of the pension plan assets at December 31, 2022 were as follows (in millions):
Asset CategoryTotalQuoted Prices in Active  Markets for
Identical Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Domestic equity securities(1):
Small-cap fund$3.9 $3.9 $— $— 
Mid-cap fund3.9 3.9 — — 
Large-cap fund31.3 31.3 — — 
International equity fund20.2 20.2 — — 
Fixed income securities(1):
Long-term investment grade bond funds128.3 128.3 — — 
Other:
Short-term investment fund11.2 11.2 — — 
Group annuity contract0.2 — — 0.2 
Fair value of plan assets$199.0 $198.8 $— $0.2 
(1) We hold equity and fixed income securities through investments in mutual funds, which are dedicated to each category as indicated.
The target allocation and actual weighted average asset allocation percentages at December 31, 2021 and 2022 were as follows:
 20212022
 ActualTargetActualTarget
Equity securities30%30%30%30%
Fixed income securities67%70%64%70%
Other3%—%6%—%
Expected Benefit Payments
As of December 31, 2022, the benefit amounts expected to be paid from plan assets through December 31, 2032 were as follows (in millions): 
 Pension
Benefits
Other
Postretirement
Benefits
2023$10.7 $1.1 
2024$11.1 $1.0 
2025$14.5 $0.9 
2026$16.7 $0.8 
2027$18.1 $0.7 
2028 through 2032$110.8 $2.9