Pension Benefit Plans (Tables) - Pension Benefit Plans

12 Months Ended

Dec. 31, 2014

Defined Benefit Plans and Other Post-Retirement Benefit Plans [Line Items]

Funded Status Of Pension Plans

The following sets forth the funded status of the U.S. and non-U.S. plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):

	U.S. Pension Benefits						Non-U.S. Pension Benefits
	2014			2013			2014			2013
Change in pension benefit obligation:
Benefit obligation at beginning of year	$	2,281.2		$	2,506.2		$	1,251.0		$	1,209.6
Service cost	6.0			5.5			32.0			27.0
Interest cost	105.9			97.4			44.4			40.3
Employee contributions	—			—			9.6			6.7
Benefits paid and other	(180.7		)	(160.7		)	(48.1		)	(48.1		)
Acquisitions	—			—			84.8			30.4
Actuarial loss (gain)	273.8			(165.3		)	274.4			(22.7		)
Amendments, settlements and curtailments	(1.5		)	(1.9		)	45.3			(10.8		)
Foreign exchange rate impact	—			—			(147.8		)	18.6
Benefit obligation at end of year	2,484.7			2,281.2			1,545.6			1,251.0
Change in plan assets:
Fair value of plan assets at beginning of year	1,926.3			1,800.0			834.6			755.4
Actual return on plan assets	90.4			284.6			93.4			56.2
Employer contributions	51.8			4.3			61.6			53.2
Employee contributions	—			—			9.6			6.7
Amendments and settlements	(1.5		)	(1.9		)	39.1			(9.0		)
Benefits paid and other	(180.7		)	(160.7		)	(48.1		)	(48.1		)
Acquisitions	—			—			57.0			10.3
Foreign exchange rate impact	—			—			(85.0		)	9.9
Fair value of plan assets at end of year	1,886.3			1,926.3			962.2			834.6
Funded status	$	(598.4	)	$	(354.9	)	$	(583.4	)	$	(416.4	)

Weighted Average Assumptions Used To Determine Benefit Obligations And Cost

Weighted average assumptions used to determine benefit obligations at date of measurement:

	U.S. Plans				Non-U.S. Plans
	2014		2013		2014		2013
Discount rate	4.00	%	4.80	%	2.25	%	3.60	%
Rate of compensation increase	N/A		N/A		2.95	%	3.05	%

Weighted average assumptions used to determine net periodic pension cost at date of measurement:

	U.S. Plans				Non-U.S. Plans
	2014		2013		2014		2013
Discount rate	4.80	%	3.90	%	3.60	%	3.45	%
Expected long-term return on plan assets	7.50	%	7.50	%	4.80	%	4.65	%
Rate of compensation increase	N/A		N/A		3.05	%	3.00	%

Components of Net Periodic Pension Cost

Components of net periodic pension cost:

	U.S. Pension Benefits						Non-U.S. Pension Benefits
($ in millions)	2014			2013			2014			2013
Service cost	$	6.0		$	5.5		$	32.0		$	27.0
Interest cost	105.9			97.4			44.4			40.3
Expected return on plan assets	(128.8		)	(125.1		)	(41.5		)	(34.3		)
Amortization of prior service credit	—			—			(0.1		)	(0.2		)
Amortization of net loss	18.4			31.4			6.8			7.4
Curtailment and settlement losses (gains) recognized	0.2			—			0.7			(1.2		)
Net periodic pension cost	$	1.7		$	9.2		$	42.3		$	39.0

Fair Values Of Pension Plan Assets

The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2014, by asset category were as follows ($ in millions):

	Quoted Prices in Active  Market (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	44.6	—		—		$	44.6
Equity securities:
Common stock	212.1		$	24.8	—		236.9
Preferred stock	—		—		—		—
Fixed income securities:
Corporate bonds	—		150.3		—		150.3
Government issued	—		58.3		—		58.3
Mutual funds	391.0		510.2		—		901.2
Common/collective trusts	—		852.9		—		852.9
Venture capital, partnerships and other private investments	—		—		$	495.1	495.1
Insurance contracts	—		109.2		—		109.2
Total	$	647.7	$	1,705.7	$	495.1	$	2,848.5

The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2013, by asset category were as follows ($ in millions):

	Quoted Prices in Active Market (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	28.3	—		—		$	28.3
Equity securities:
Common stock	278.5		$	25.2	—		303.7
Preferred stock	15.9		—		—		15.9
Fixed income securities:
Corporate bonds	—		152.0		—		152.0
Government issued	—		23.5		—		23.5
Mutual funds	395.2		511.9		—		907.1
Common/collective trusts	—		792.6		—		792.6
Venture capital, partnerships and other private investments	—		—		$	427.2	427.2
Insurance contracts	—		110.6		—		110.6
Total	$	717.9	$	1,615.8	$	427.2	$	2,760.9

Summary Of Changes In Fair Value Of Level 3 Investments

The following is a rollforward of the fair value of the Company's Level 3 venture capital, partnerships and other private investments ($ in millions):

Balance, January 1, 2013	$	314.4
Actual return on plan assets:
Relating to assets sold during the year	(0.1		)
Relating to assets still held as of December 31, 2013	24.0
Purchases	150.1
Sales	(61.2		)
Balance, December 31, 2013	427.2
Actual return on plan assets:
Relating to assets sold during the year	7.0
Relating to assets still held as of December 31, 2014	15.2
Purchases	94.2
Sales	(48.5		)
Balance, December 31, 2014	$	495.1

Benefit Payments That Reflect Expected Future Service

The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plans in the periods indicated ($ in millions):

	U.S. Pension Plans		Non-U.S. Pension Plans		All Pension Plans
2015	$	149.2	$	47.8	$	197.0
2016	151.7		51.8		203.5
2017	156.0		50.6		206.6
2018	158.4		52.7		211.1
2019	157.8		53.8		211.6
2020 – 2024	796.4		304.2		1,100.6