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Post Employment Plans - (Tables)
6 Months Ended
Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Defined Benefit Plans Disclosures
The change in the projected benefit obligation and plan assets consisted of the following (in millions):
 
Pension Benefits
 
Other Benefits
 
Six Months Ended
 
Fiscal Year Ended
 
Six Months Ended
 
Fiscal Year Ended
 
December 31,
2015
 
June 27, 2015 *
 
June 28, 2014 **
 
December 31,
2015
 
June 27, 2015 *
 
June 28, 2014
Projected benefit obligation at beginning of period
$
140.3

 
$
89.0

 
$

 
$
6.0

 
$
4.6

 
$
3.9

Acquisitions
5.6

 
70.4

 
84.4

 

 
1.0

 

Service costs
2.2

 
0.9

 

 
0.3

 
0.3

 
0.5

Interest cost
1.7

 
2.4

 
1.4

 
0.1

 
0.2

 
0.3

Actuarial (gain) loss
(10.1
)
 
(6.8
)
 
12.1

 
0.5

 

 

Benefits paid
(0.6
)
 
(0.9
)
 
(0.2
)
 
(0.1
)
 
(0.1
)
 
(0.1
)
Settlements

 

 
(8.0
)
 

 

 

Foreign currency translation
(4.1
)
 
(14.7
)
 
(0.7
)
 
0.1

 

 

Projected benefit obligation at end of period
$
135.0

 
$
140.3

 
$
89.0

 
$
7.0

 
$
6.0

 
$
4.6

Fair value of plan assets at beginning of period
133.3

 
99.6

 

 

 

 

Acquisitions
3.2

 
49.9

 
107.3

 

 

 

Actual return on plan assets
(0.6
)
 
(1.0
)
 
5.4

 

 

 

Benefits paid
(0.6
)
 
(0.1
)
 
(0.2
)
 

 

 

Settlements

 

 
(12.1
)
 

 

 

Employer contributions
3.3

 
2.4

 

 

 

 

Foreign currency translation
(3.7
)
 
(17.5
)
 
(0.8
)
 

 

 

Fair value of plan assets at end of period
$
134.9

 
$
133.3

 
$
99.6

 
$

 
$

 
$

Funded (unfunded) status
$
(0.1
)
 
$
(7.0
)
 
$
10.6

 
$
(7.0
)
 
$
(6.0
)
 
$
(4.6
)
Presented as:
 
 
 
 
 
 
 
 
 
 
 
Other non-current assets
$
16.5

 
$
12.8

 
$
10.6

 
$

 
$

 
$

Other non-current liabilities
$
(16.6
)
 
$
(19.8
)
 
$

 
$
(7.0
)
 
$
(6.0
)
 
$
(4.0
)

*
Includes Omega activity from March 30, 2015 to June 27, 2015.
**
Includes Elan activity from December 18, 2013 to June 28, 2014.
Schedule of Expected Benefit Payments
At December 31, 2015, the total estimated future benefit payments to be paid by the plans for the next five years is approximately $6.9 million for pension benefits and $0.9 million for other benefits as follows (in millions):

Payment Due
 
Pension Benefits
 
Other Benefits
2016
 
$
1.0

 
$
0.1

2017
 
1.0

 
0.2

2018
 
1.2

 
0.2

2019
 
1.7

 
0.2

2020
 
2.0

 
0.2

Thereafter
 
12.5

 
2.0

Schedule of Costs of Retirement Plans
Net periodic pension cost consisted of the following (in millions):
 
Pension Benefits
 
Other Benefits
 
Six Months Ended
 
Fiscal Year Ended
 
Six Months Ended
 
Fiscal Year Ended
 
December 31,
2015
 
June 27, 2015 *
 
June 28, 2014 **
 
December 31,
2015
 
June 27, 2015 *
 
June 28,
2014
Service cost
$
2.2

 
$
0.9

 
$

 
$
0.3

 
$
0.3

 
$
0.5

Interest cost
1.7

 
2.4

 
1.4

 
0.1

 
0.2

 
0.3

Expected return on plan assets
(1.8
)
 
(2.7
)
 
(1.9
)
 

 

 
0.6

Net actuarial loss
0.4

 
1.0

 
0.7

 

 
0.1

 
 
Net periodic pension cost
$
2.5

 
$
1.6

 
$
0.2

 
$
0.4

 
$
0.6

 
$
1.4



*
Includes Omega activity from March 30, 2015 to June 27, 2015.
**
Includes Elan activity from December 18, 2013 to June 28, 2014.
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate
The weighted-average assumptions used to determine net periodic pension cost and benefit obligation were:
 
Pension Benefits
 
Other Benefits
 
Six Months Ended
 
Fiscal Year Ended
 
Six Months Ended
 
Fiscal Year Ended
 
December 31,
2015
 
June 27, 2015 *
 
June 28, 2014 **
 
December 31,
2015
 
June 27, 2015 *
 
June 28,
2014
Discount rate
2.22
%
 
2.11
%
 
2.90
%
 
4.25
%
 
4.25
%
 
4.25
%
Inflation
2.25
%
 
1.93
%
 
2.00
%
 
 
 
 
 
 
Expected return on assets
2.93
%
 
2.85
%
 
2.92
%
 
 
 
 
 
 


*
Includes Omega activity from March 30, 2015 to June 27, 2015.
**
Includes Elan activity from December 18, 2013 to June 28, 2014.
Schedule of Assumptions Used
s of December 31, 2015, the expected weighted-average long-term rate of return on assets of 2.9% was calculated based on the assumptions of the following returns for each asset class:
Equities
6.0
%
Bonds
0.9
%
Absolute return fund
3.5
%
Insurance contracts
2.9
%
Property
5.0
%
Schedule of Allocation of Plan Assets

As of December 31, 2015, the current long-term asset allocation ranges of the trusts are as follows:
Equities
10%-20%
Bonds
20%-30%
Property
0%-10%
Absolute return
20%-30%
Insurance contracts
30%-40%

schedule of allocation - fair value of the pension plan assets [Table Text Block]
The following table sets forth the fair value of the pension plan assets, as of December 31, 2015 (in millions):     
 
Quoted Prices in Active Markets
 
Other Observable Inputs
 
Unobservable Inputs
 
 
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Equities
$
15.9

 
$

 
$

 
$
15.9

Bonds
39.6

 

 

 
39.6

Property

 

 
0.8

 
0.8

Insurance contracts

 

 
44.9

 
44.9

Absolute return fund
33.7

 

 

 
33.7

Total
$
89.2

 
$

 
$
45.7

 
$
134.9


The following table sets forth the fair value of the pension plan assets, as of June 27, 2015 (in millions):     
 
Quoted Prices in Active Markets
 
Other Observable Inputs
 
Unobservable Inputs
 
 
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Equities
$
16.7

 
$

 
$

 
$
16.7

Bonds
49.7

 

 

 
49.7

Property

 

 
0.4

 
0.4

Insurance contracts

 

 
31.5

 
31.5

Absolute return fund
34.8

 

 

 
34.8

Other
0.2

 

 

 
0.2

Total
$
101.4

 
$

 
$
31.9

 
$
133.3



The following table sets forth the fair value of the pension plan assets, as of June 28, 2014 (in millions):     
 
Quoted Prices in Active Markets
 
Other Observable Inputs
 
Unobservable Inputs
 
 
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Equities
$
20.8

 
$

 
$

 
$
20.8

Bonds
48.3

 

 

 
48.3

Property

 

 
0.8

 
0.8

Absolute return fund
29.6

 

 

 
29.6

Other
0.1

 

 

 
0.1

Total
$
98.8

 
$

 
$
0.8

 
$
99.6


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

The following table sets forth a summary of the changes in the fair value of the Level 3 pension plan assets, which were measured at fair value on a recurring basis (in millions):
 
Six Months Ended
 
Fiscal Year Ended
 
December 31,
2015
 
June 27, 2015 *
 
June 28, 2014 **
Level 3 assets held at beginning of year
$
31.9

 
$
0.8

 
$

Acquisitions
13.1

 
31.5

 
0.7

Unrealized gains
0.7

 
(0.4
)
 
0.1

Level 3 assets held at end of year
$
45.7

 
$
31.9

 
$
0.8


*
Includes Omega activity from March 30, 2015 to June 27, 2015.
**
Includes Elan activity from December 18, 2013 to June 28, 2014.