Defined Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of defined benefit plans

The table below provides summary information on our defined benefit plans:

	Year ended December 31,
	2016		2015		2014
	in millions
Projected benefit obligation	$	3,200.3	$	1,188.3	$	1,247.6
Fair value of plan assets (a)	$	3,108.7	$	1,092.6	$	1,122.7
Net liability	$	91.6	$	95.7	$	124.9
Net periodic pension cost (b)	$	10.1	$	11.8	$	9.6

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(a) The fair value of plan assets at December 31, 2016 includes $1,707.4 million, $199.1 million and $1,202.2 million of assets that are valued based on Level 1, Level 2 and Level 3 inputs, respectively, of the fair value hierarchy (as further described in note 8). Our plan assets comprise investments in debt securities, equity securities, hedge funds, insurance contracts and certain other assets (including $1,018.3 million of investments valued using Level 3 inputs that are held by the CWSF, as defined and described below).

(b)

The 2016 and 2015 amounts exclude aggregate curtailment gains of $1.4 million and $7.9 million, respectively, which are included in impairment, restructuring and other operating items, net, in our consolidated statements of operations.