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Retirement Benefits Plans
 9 Months Ended
Sep. 30, 2013
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Retirement Benefits Plans
8. Retirement Benefits Plans
Defined Benefit Pension Plan and Postretirement Health Care and Life Insurance Plans
The Company has a noncontributory defined benefit pension plan (“defined benefit plan”), which provides retirement benefits for certain of its employees. The Company also has plans which provide health care and life insurance benefits for many of its retirees (“postretirement benefit plans”). The postretirement benefit plans are unfunded and the costs are borne by the Company.
Effective January 1, 2011, pension benefits under the Company’s defined benefit plan were frozen for all participants in this plan. The Company also amended its postretirement benefit plans during the first quarter of 2010. Postretirement medical benefits for future retirees were phased out or eliminated, effective January 1, 2011, for non-mining employees with less than ten years of service and employer costs for all those still eligible for such benefits were capped. As a result of these changes, the Company’s postretirement benefit liability declined $36.7 million during 2010. Most of the benefit of this liability reduction is being amortized into income through 2016.
Defined benefit plan expense consisted of the following components:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
2013
 
2012
 
 
(Dollars in millions)
Interest cost on benefit obligations
 
0.3

 
0.4

 
1.0

 
1.1

Expected return on plan assets
 
(0.6
)
 
(0.5
)
 
(1.8
)
 
(1.4
)
Amortization of actuarial losses
 
0.3

 
0.2

 
0.8

 
0.7

 
 
$
—

 
$
0.1

 
$
—

 
$
0.4


Postretirement benefit plans benefit consisted of the following components:
    
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
2013
 
2012
 
 
(Dollars in millions)
Service cost
 
$
0.1

 
$
0.1

 
$
0.2

 
$
0.2

Interest cost on benefit obligations
 
0.3

 
0.4

 
1.0

 
1.4

Amortization of:
 
 
 
 
 
 
 
 
Actuarial losses
 
0.4

 
0.4

 
1.1

 
1.1

Prior service benefit
 
(1.4
)
 
(1.4
)
 
(4.3
)
 
(4.2
)
 
 
$
(0.6
)
 
$
(0.5
)
 
$
(2.0
)
 
$
(1.5
)