7. Employee Benefits

The components of the estimated net pension and other postretirement benefits plan income for the three and six months ended June 30, 2014 and 2013 were as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
Pension (income) expense
Service cost	$	0.6		$	0.8		$	1.1		$	1.6
Interest cost		48.9			44.5			96.6			89.1
Expected return on plan assets		(66.1	)		(60.6	)		(129.2	)		(121.2	)
Amortization, net		8.5			12.6			16.3			25.2
Net pension income	$	(8.1	)	$	(2.7	)	$	(15.2	)	$	(5.3	)
Other postretirement benefits plan (income) expense
Service cost	$	1.2		$	1.9		$	2.3		$	3.7
Interest cost		4.2			4.0			8.4			8.1
Expected return on plan assets		(3.1	)		(2.9	)		(6.2	)		(5.9	)
Amortization, net		(6.5	)		(5.0	)		(12.9	)		(9.9	)
Net other postretirement benefits plan income	$	(4.2	)	$	(2.0	)	$	(8.4	)	$	(4.0	)

As the majority of the Company’s pension plans have been frozen as of December 31, 2012, the Company continues to transition to a risk management approach for its U.S. pension plan assets. The overall investment objective of this approach is to further reduce the risk of significant decreases in the plan’s funded status by allocating a larger portion of the plan’s assets to investments expected to hedge the impact of interest rate risks on the plan’s obligation. Over time, the target asset allocation percentage for the pension plan is expected to decrease for equity and other securities and increase for fixed income investments. The assumed long-term rate of return for plan assets, which is determined annually, is likely to decrease as the asset allocation shifts over time.