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Pension And Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Summary Of Benefit Obligations, Fair Value Of Plan Assets And Funded Status A summary of the projected benefit obligations, fair value of plan assets and funded status is as follows:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2020201920202019
Change in benefit obligation:
Benefit obligation at beginning of year$1,168.7 $1,031.0 $29.0 $29.0 
Service cost6.4 5.4 0.3 0.3 
Interest cost26.1 32.7 0.9 1.1 
Plan participants’ contributions0.5 0.5 — 0.1 
Amendments(0.2)0.5 — — 
Actuarial loss 94.8 131.3 2.0 1.8 
Settlements(9.3)(0.7)— — 
Curtailments(3.5)— — — 
Benefits paid(46.8)(47.7)(2.2)(2.4)
Foreign currency exchange and other23.6 16.4 — (0.9)
Administrative expenses paid(0.5)(0.7)— — 
Benefit obligation at end of year$1,259.8 $1,168.7 $30.0 $29.0 
Change in plan assets:
Fair value of plan assets at beginning of year$965.8 $877.2 $— $— 
Actual return on plan assets70.3 113.8 — — 
Employer contributions26.1 4.2 2.2 2.3 
Plan participants’ contributions0.5 0.5 — 0.1 
Settlements(9.3)(0.7)— — 
Benefits paid(46.8)(47.7)(2.2)(2.4)
Foreign currency exchange and other18.5 19.6 — — 
Administrative expenses paid(1.0)(1.1)— — 
Fair value of plan assets at end of year$1,024.1 $965.8 $— $— 
Funded status$(235.7)$(202.9)$(30.0)$(29.0)
Schedule Of Amounts Recognized In Consolidated Balance Sheets
Amounts recognized on our Consolidated Balance Sheets consist of:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2020201920202019
Other assets$62.6 $64.8 $— $— 
Current liabilities(1.5)(1.4)(2.6)(2.2)
Accrued pension and postretirement benefits(296.8)(266.3)(27.4)(26.8)
Funded status$(235.7)$(202.9)$(30.0)$(29.0)
Schedule Of Amounts Recognized In Accumulated Other Comprehensive (Income) Loss
Amounts recognized in accumulated other comprehensive loss consist of:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2020201920202019
Net actuarial loss (gain)$532.3 $466.1 $(0.9)$(2.9)
Prior service credit (2.8)(4.5)(4.1)(5.2)
Total recognized in accumulated other comprehensive loss$529.5 $461.6 $(5.0)$(8.1)
Schedule Of Accumulated And Projected Benefit Obligations
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the U.S. and Non-U.S. plans, are as follows:
 Pension Obligations/Assets
 U.S.Non-U.S.Total
(in millions) December 31,202020192020201920202019
Projected benefit obligation$699.1 $650.2 $560.7 $518.5 $1,259.8 $1,168.7 
Accumulated benefit obligation699.1 650.2 548.9 508.8 1,248.0 1,159.0 
Fair value of plan assets482.8 451.5 541.3 514.3 $1,024.1 965.8 
Schedule Of Information For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets
Information for pension plans with an accumulated benefit obligation in excess of plan assets is as follows:
(in millions) December 31,20202019
Projected benefit obligation$1,060.4 $950.1 
Accumulated benefit obligation1,049.5 940.6 
Fair value of plan assets762.5 682.4 
Components Of Net Periodic Cost
Components of net periodic (benefit) cost are as follows:
Pension BenefitsPostretirement Benefits
(in millions) For the year ended December 31,202020192018202020192018
Net Periodic (Benefit) Cost:
Service cost$6.4 $5.4 $5.9 $0.3 $0.3 $0.3 
Interest cost26.1 32.7 30.1 0.9 1.1 1.1 
Expected return on plan assets(57.5)(53.7)(65.6)— — — 
Amortization of prior service cost(0.3)(0.3)(0.5)(1.1)(1.1)(1.0)
Amortization of net loss (gain)19.1 15.3 14.2 — (0.3)(0.2)
Recognized curtailment (gain) loss(2.3)— 0.3 — — — 
Settlement costs1.7 — 0.3 — — — 
Net periodic (benefit) cost$(6.8)$(0.6)$(15.3)$0.1 $— $0.2 
Schedule Of Weighted Average Assumptions Used To Determine Benefit Obligation And Net Periodic Benefit Cost
The weighted average assumptions used to determine benefit obligations are as follows:
Pension BenefitsPostretirement Benefits
For the year ended December 31,202020192018202020192018
U.S. Plans:
Discount rate2.62 %3.34 %4.36 %2.30 %3.20 %4.30 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
Interest credit rate0.93 %2.83 %2.40 %N/AN/AN/A
Non-U.S. Plans:
Discount rate1.07 %1.70 %2.42 %N/AN/A3.30 %
Rate of compensation increase3.10 %2.89 %3.06 %N/AN/AN/A
Interest credit rate0.29 %0.22 %0.84 %N/AN/AN/A
The weighted-average assumptions used to determine net periodic benefit cost are as follows:
Pension BenefitsPostretirement Benefits
For the year ended December 31,202020192018202020192018
U.S. Plans:
Discount rate3.34 %4.36 %3.75 %3.20 %4.10 %3.50 %
Expected rate of return on plan assets7.25 %7.25 %7.75 %N/AN/AN/A
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
Interest credit rate2.83 %2.40 %2.49 %N/AN/AN/A
Non-U.S. Plans:
Discount rate1.70 %2.42 %2.15 %N/AN/AN/A
Expected rate of return on plan assets5.31 %5.34 %6.49 %N/AN/AN/A
Rate of compensation increase2.89 %3.06 %2.80 %N/AN/AN/A
Interest credit rate0.22 %0.84 %0.66 %N/AN/AN/A
Schedule Of Health Care Cost Trend Rates
The assumed health care cost trend rates are as follows:
December 31,20202019
Health care cost trend rate assumed for next year6.50 %6.75 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.50 %4.50 %
Year that the rate reaches the ultimate trend rate20292029
Schedule Of Pension Plan Target Allocations And Weighted-Average Asset Allocations
Our pension plan target allocations and weighted-average asset allocations by asset category are as follows:
  Target AllocationActual Allocation
Asset Category December 31,20202019
Equity securities15%-75% 44 %43 %
Fixed income securities15%-75% 26 %26 %
Alternative assets/Other0%-45% 27 %29 %
Cash and money market0%-10% 3 %2 %
Schedule Of Fair Value Of Company Pension Plan Assets
The fair value of our pension plan assets as of December 31, 2020, by asset category, are as follows:
(in millions)Active
Markets
for
Identical
Assets
Level 1		Other
Observable
Inputs
Level 2		Unobservable
Inputs
Level 3
Net Asset Value ("NAV") Practical Expedient (a)
Total
Fair Value
Cash Equivalents and Money Markets$30.1 $— $— $— $30.1 
Common Stocks
Actively Managed U.S. Equities103.2 — — — 103.2 
Fixed Income Bonds and Notes— 0.1 — — 0.1 
Commingled and Mutual Funds
U.S. Equity Funds117.3 — — — 117.3 
Non-U.S. Equity Funds53.2 — — 178.0 231.2 
U.S. Fixed Income, Government and Corporate76.6 — — — 76.6 
Registered Investment Company18.3 — — — 18.3 
Collective Trust— — 22.8 19.2 42.0 
Non-U.S. Fixed Income, Government and Corporate— — — 186.5 186.5 
International Balanced Funds— — — 1.9 1.9 
Alternative Investments
Insurance / Annuity Contract(s)— 14.2 — — 14.2 
Hedge Funds and LDI— — — 153.8 153.8 
International Property Funds— — — 48.9 48.9 
Total Fair Value$398.7 $14.3 $22.8 $588.3 $1,024.1 
(a)
 Investments are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy.
The fair value of our pension plan assets as of December 31, 2019, by asset category, are as follows:
(in millions)Active
Markets
for
Identical
Assets
Level 1		Other
Observable
Inputs
Level 2		Unobservable
Inputs
Level 3
Net Asset Value ("NAV") Practical Expedient(a)
Total
Fair Value
Cash Equivalents and Money Markets$14.7 $— $— $— $14.7 
Common Stocks
Actively Managed U.S. Equities130.6 — — — 130.6 
Fixed Income Bonds and Notes— 0.1 — — 0.1 
Commingled and Mutual Funds
U.S. Equity Funds77.9 — — — 77.9 
Non-U.S. Equity Funds44.8 — — 158.6 203.4 
U.S. Fixed Income, Government and Corporate75.7 — — — 75.7 
Registered Investment Company30.2 — — — 30.2 
Collective Trust— — 22.6 21.2 43.8 
Non-U.S. Fixed Income, Government and Corporate— — — 176.1 176.1 
International Balanced Funds— — — 1.8 1.8 
Alternative Investments
Insurance / Annuity Contract(s)— 15.1 — — 15.1 
Hedge Funds and LDI— — — 147.3 147.3 
International Property Funds— — — 49.1 49.1 
Total Fair Value$373.9 $15.2 $22.6 $554.1 $965.8 
(a)
 Investments are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy.
Summary Of Pension Plan Assets Valued Using Net Asset Value (NAV) Or Its Equivalent
The following table sets forth a summary of pension plan assets valued using NAV or its equivalent as of December 31, 2020 and December 31, 2019:
Redemption
Frequency		Unfunded
Commitment		Other
Redemption
Restrictions		Redemption Notice Period
Non-U.S. Equity Funds (a)
ImmediateNoneNoneNone
Non-U.S. Fixed Income, Government and Corporate (b)
ImmediateNoneNoneNone
International Balanced Funds (c)
ImmediateNoneNoneNone
Collective Trust Fund (d)
ImmediateNoneNoneNone
Hedge Funds (e)
QuarterlyNoneNone65 days written
Hedge Funds (e)
QuarterlyNoneNone30 days written
Hedge Funds (e)
QuarterlyNoneNone30 days written
International Property Funds (f)
ImmediateNoneNoneNone
Hedge Funds and LDI (g)
ImmediateNoneNoneNone
(a)
These funds invest in corporate equity securities outside the United States.
(b)These funds invest in corporate and government fixed income securities outside the United States.
(c)These funds invest in a blend of equities, fixed income, cash and property outside the United States.
(d)These funds are managed in a collective trust under Australia's Superannuation plan structure.
(e)These funds are direct investment alternative investments/hedge funds that deploy a multi-strategy approach to investing (e.g., long/short, event-driven, credit, etc.)
(f)These funds invest in real property outside the United States.
(g)These funds invest in strategies that seek to add diversification to a portfolio with uncorrelated risk profiles or are designed to track the duration of all or part of the underlying liability.
Summary Of Estimated Future Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Estimated future payments (in millions)Pension
Benefits		Postretirement Benefits
2021$51.2 $2.6 
202251.8 2.4 
202353.2 2.5 
202454.3 2.4 
202556.6 2.1 
2026 to 2030285.5 9.2 
Total payments$552.6 $21.2