Pensions and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The pension and postretirement expenses related to the Company’s plans consisted of the following:

	Pension Benefits						Postretirement Benefits
	Year Ended December 31,
In millions	2020		2019		2018		2020		2019		2018
Components of Net Periodic Cost:
Service Cost	$	15.4	$	14.0	$	17.3	$	0.5	$	0.5	$	0.6
Interest Cost	14.0		46.1		41.8		1.0		1.2		1.2
Expected Return on Plan Assets	(21.0)		(54.9)		(63.6)		—		—		—
Amortization:
Prior Service Cost (Credit)	0.2		0.2		0.4		(0.3)		(0.3)		(0.3)
Actuarial Loss (Gain)	5.4		10.0		5.9		(1.7)		(2.3)		(1.8)
Net Curtailment/Settlement Loss	153.7		39.2		1.0		—		—		—
Other	0.2		0.3		0.5		—		—		—
Net Periodic Cost (Benefit)	$	167.9	$	54.9	$	3.3	$	(0.5)	$	(0.9)	$	(0.3)

Schedule of Assumptions Used

Certain assumptions used in determining the pension and postretirement expenses were as follows:

	Pension Benefits						Postretirement Benefits
	Year Ended December 31,
	2020		2019		2018		2020		2019		2018
Weighted Average Assumptions:
Discount Rate	2.69	%	4.14	%	3.49	%	3.22	%	4.29	%	3.64	%
Rate of Increase in Future Compensation Levels	2.36	%	2.37	%	2.09	%	—		—		—
Expected Long-Term Rate of Return on Plan Assets	4.12	%	4.74	%	4.86	%	—		—		—
Initial Health Care Cost Trend Rate	—		—		—		6.65	%	9.00	%	9.00	%
Ultimate Health Care Cost Trend Rate	—		—		—		4.50	%	4.50	%	4.50	%
Ultimate Year	—		—		—		2028		2028		2027

Schedule of Net Funded Status

The following table sets forth the funded status of the Company’s pension and postretirement plans as of December 31:

	Pension Benefits						Postretirement Benefits
In millions	2020			2019			2020			2019
Change in Benefit Obligation:
Benefit Obligation at Beginning of Year	$	1,255.4		$	1,245.2		$	35.9		$	34.1
Service Cost	15.4			14.0			0.5			0.5
Interest Cost	14.0			46.1			1.0			1.2
Net Actuarial Loss	61.9			157.8			—			1.1
Foreign Currency Exchange	8.9			9.2			—			0.1
Settlements	(742.7)			(150.2)			—			—
Benefits Paid	(20.4)			(67.2)			(1.2)			(1.2)
Other	0.3			0.5			0.1			0.1
Benefit Obligation at End of Year	$	592.8		$	1,255.4		$	36.3		$	35.9
Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Year	$	1,172.4		$	1,186.5		$	—		$	—
Actual Return on Plan Assets	57.8			181.7			—			—
Employer Contributions	19.1			11.3			1.2			1.2
Foreign Currency Exchange	8.1			10.3			—			—
Benefits Paid	(20.4)			(67.2)			(1.2)			(1.2)
Settlements	(720.7)			(150.2)			—			—
Fair Value of Plan Assets at End of Year	$	516.3		$	1,172.4		$	—		$	—
Plan Assets Less than Projected Benefit Obligation	$	(76.5)		$	(83.0)		$	(36.3)		$	(35.9)
Amounts Recognized in the Consolidated Balance Sheets Consist of:
Pension Assets	$	21.2		$	25.6		$	—		$	—
Accrued Pension and Postretirement Benefits Liability — Current	$	(1.8)		$	(1.7)		$	(2.5)		$	(2.4)
Accrued Pension and Postretirement Benefits Liability — Noncurrent	$	(96.0)		$	(106.9)		$	(33.8)		$	(33.5)
Accumulated Other Comprehensive Income:
Net Actuarial Loss (Gain)	$	105.5		$	279.9		$	(0.9)		$	(0.8)
Prior Service Cost (Credit)	$	3.8		$	3.6		$	(15.3)		$	(17.3)
Weighted Average Calculations:
Discount Rate	2.11		%	2.69		%	2.52		%	3.22		%
Rates of Increase in Future Compensation Levels	3.62		%	2.36		%	—			—
Initial Health Care Cost Trend Rate	—			—			6.40		%	6.65		%
Ultimate Health Care Cost Trend Rate	—			—			4.50		%	4.50		%
Ultimate Year	—			—			2028			2028

Schedule of Fair Value of Plan Assets

The following tables set forth, by category and within the fair value hierarchy, the fair value of the Company’s pension assets at December 31, 2020 and 2019:

			Fair Value Measurements at December 31, 2020
In millions	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value at December 31, 2020
Asset Category:
Cash	$	6.2	$	0.3	$	2.3	$	—	$	3.6
Equity Securities:
Domestic	117.8		4.9		11.6		—		101.3
Foreign	7.2		7.2		—		—		—
Fixed Income Securities	319.6		18.7		300.6		0.3		—
Other Investments:
Real estate	22.9		—		8.9		14.0		—
Diversified growth fund (a)	42.6		—		42.6		—		—
Total	$	516.3	$	31.1	$	366.0	$	14.3	$	104.9

			Fair Value Measurements at December 31, 2019
In millions	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value at December 31, 2019
Asset Category:
Cash	$	159.6	$	0.3	$	35.0	$	—	$	124.3
Equity Securities:
Domestic	82.9		4.7		—		—		78.2
Foreign	7.0		7.0		—		—		—
Fixed Income Securities	852.5		17.0		835.3		0.2		—
Other Investments:
Real estate	21.9		—		8.9		13.0		—
Diversified growth fund (a)	48.5		—		48.5		—		—
Total	$	1,172.4	$	29.0	$	927.7	$	13.2	$	202.5

(a) The fund invests in a combination of traditional investments (equities, bonds, and foreign exchange), seeking to achieve returns through active asset allocation over a three to five-year horizon.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

A reconciliation of fair value measurements of plan assets using significant unobservable inputs (Level 3) is as follows:

In millions	2020		2019
Balance at January 1,	$	13.2	$	5.8
Transfers In	1.1		7.4
Balance at December 31,	$	14.3	$	13.2

Schedule of Expected Benefit Payments

The following represents the Company’s estimated future pension and postretirement health care benefit payments through the year 2030:

In millions	Pension Plans		Postretirement Health Care Benefits
2021	$	24.1	$	2.5
2022	26.5		2.5
2023	28.8		2.5
2024	30.6		2.6
2025	32.5		2.3
2026— 2030	181.0		10.4

Schedule of Multi-employer Plans

The Company's participation in these plans for the year ended December 31, 2020, 2019 and 2018 is shown in the table below:

		Pension Protection Act Zone Status			Company Contributions (in millions)
Multi-employer Pension Fund	EIN/Pension Plan Number	2020	2019	FIP/RP Status Implemented	2020		2019		2018		Surcharge Imposed	Expiration Date of Bargaining Agreement
Central States Southeast and Southwest Areas Pension Fund	36-6044243/001	Red	Red	Yes	$	0.1	$	0.1	$	0.1	Yes	7/31/2023
PIUMPF(a)	11-6166763/001	Red	Red	Yes	—		—		0.1		Yes	6/15/2022
GCC/IBT(a)	52-6118568/001	Red	Red	Yes	—		0.1		0.3		Yes	4/30/2022
Total					$	0.1	$	0.2	$	0.5

(a) As noted above, the Company withdrew from these plans in 2019.

Schedule of Allocation of Plan Assets

The weighted average allocation of plan assets and the target allocation by asset category is as follows:

	Target		2020		2019
Cash	0.4	%	1.2	%	13.6	%
Equity Securities	22.8		24.2		7.7
Fixed Income Securities	60.7		61.9		68.6
Other Investments	16.1		12.7		10.1
Total	100.0	%	100.0	%	100.0	%