XML 26 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Retirement Benefit Plans
6 Months Ended
Jun. 30, 2017
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
Retirement Benefit Plans

The Company maintains various defined benefit pension plans that provide benefits based on years of service and average compensation during certain periods. The Company's policy is to make contributions to fund these plans within the range allowed by applicable regulations. Plan assets consist primarily of publicly traded stocks and government and corporate bonds.
Pension benefits for employees covered under the Company's U.S. and U.K. plans are frozen. Only certain grandfathered employees in the Netherlands still earn retirement benefits under a defined benefit pension plan. All other eligible employees of the Company, including employees whose pension benefits are frozen, receive retirement benefits under defined contribution retirement plans.

The Company previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2016 that it expected to make no contributions to its U.S. pension plans and contribute approximately $3.0 million to its non-U.S. pension plans in 2017. The Company now expects to contribute approximately $0.5 million and $9.3 million to its U.S. and non-U.S. pension plans, respectively, in 2017.

The components of pension (income) expense are set forth below:
 
THREE MONTHS ENDED
 
SIX MONTHS ENDED
 
JUNE 30
 
JUNE 30
 
2017
 
2016
 
2017
 
2016
U.S. Pension
 
 
 
 
 
 
 
Interest cost
$
0.7

 
$
0.8

 
$
1.4

 
$
1.5

Expected return on plan assets
(1.3
)
 
(1.2
)
 
(2.5
)
 
(2.4
)
Amortization of actuarial loss
0.5

 
0.4

 
0.9

 
0.8

Amortization of prior service credit
(0.1
)
 
(0.1
)
 
(0.2
)
 
(0.2
)
Total
$
(0.2
)
 
$
(0.1
)
 
$
(0.4
)
 
$
(0.3
)
Non-U.S. Pension
 
 
 
 
 
 
 
Service cost
$

 
$
0.1

 
$
0.1

 
$
0.1

Interest cost
1.0

 
1.3

 
2.0

 
2.6

Expected return on plan assets
(2.3
)
 
(2.3
)
 
(4.5
)
 
(4.6
)
Amortization of actuarial loss
0.7

 
0.4

 
1.3

 
0.8

Total
$
(0.6
)
 
$
(0.5
)
 
$
(1.1
)
 
$
(1.1
)