XML 100 R85.htm IDEA: XBRL DOCUMENT v3.22.4
RETIREMENT PLANS - Information Related to Pension and Postretirement Plans (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Projected Benefit Obligation      
Settlement expense $ 50.6 $ 37.2  
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonrecurring (Income) Expense Other Nonrecurring (Income) Expense  
Amounts recognized in Consolidated Balance Sheet:      
Other assets $ 118.4 $ 114.6  
Postretirement health care and pension benefits (670.3) (894.2)  
Amounts recognized in Accumulated Other Comprehensive Loss (Income):      
Accumulated other comprehensive loss (income), net of tax 467.4 632.8  
Change in Accumulated Other Comprehensive Loss (Income):      
Other comprehensive loss (income) (130.3) (289.7) $ 78.1
Aggregate projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets:      
Aggregate projected benefit obligation 2,392.1 1,022.3  
Accumulated benefit obligation 2,355.8 964.5  
Fair value of plan assets 1,828.1 280.9  
Discontinued Operations      
Projected Benefit Obligation      
Service cost     2.5
Non-qualified plan      
Projected Benefit Obligation      
Projected benefit obligation, beginning of year 114.0    
Projected benefit obligation, end of year 86.0 114.0  
U.S. Pension. | Pension      
Defined Benefit Plan Disclosure      
Accumulated Benefit Obligation, end of year 1,799.0 2,462.7  
Projected Benefit Obligation      
Projected benefit obligation, beginning of year 2,462.7 2,728.4  
Service cost 40.8 43.9 68.4
Interest cost 65.3 51.4 70.3
Actuarial (gain) loss (479.8) (79.6)  
Benefits paid (290.0) (281.4)  
Projected benefit obligation, end of year 1,799.0 2,462.7 2,728.4
Plan Assets      
Fair value of plan assets, beginning of year 2,376.8 2,372.9  
Actual returns on plan assets (430.3) 276.8  
Company contributions 12.0 8.5  
Benefits paid (290.0) (281.4)  
Fair value of plan assets, end of year 1,668.5 2,376.8 2,372.9
Funded Status, end of year (130.5) (85.9)  
Amounts recognized in Consolidated Balance Sheet:      
Other assets   28.2  
Other current liabilities (9.2) (14.8)  
Postretirement health care and pension benefits (121.3) (99.3)  
Net liability (130.5) (85.9)  
Amounts recognized in Accumulated Other Comprehensive Loss (Income):      
Unrecognized net actuarial loss (gain) 411.9 396.8  
Unrecognized net prior service costs (benefits) (21.2) (25.8)  
Tax (benefit) expense (100.8) (95.3)  
Accumulated other comprehensive loss (income), net of tax 289.9 275.7  
Change in Accumulated Other Comprehensive Loss (Income):      
Amortization of net actuarial gain (loss) (30.2) (56.2)  
Amortization of prior service credits 4.5 6.9  
Current period net actuarial loss (gain) 97.0 (203.0)  
Curtailments and settlements (51.6) (35.3)  
Tax (benefit) expense (5.5) 69.8  
Other comprehensive loss (income) 14.2 (217.8)  
Estimated amounts in accumulated other comprehensive loss expected to be reclassified to net period cost during 2021      
Net actuarial loss (gain) 0.2    
Net prior service costs (benefits) (4.6)    
Total (4.4)    
U.S. Pension. | U.S. Postretirement Benefits      
Defined Benefit Plan Disclosure      
Accumulated Benefit Obligation, end of year 115.5 155.4  
Projected Benefit Obligation      
Projected benefit obligation, beginning of year 155.4 172.4  
Service cost 0.8 1.0 1.2
Interest cost 3.3 2.9 4.4
Participant contributions 3.7 3.3  
Actuarial (gain) loss (33.7) (12.1)  
Benefits paid (14.0) (12.1)  
Projected benefit obligation, end of year 115.5 155.4 172.4
Plan Assets      
Fair value of plan assets, beginning of year 5.2 5.7  
Actual returns on plan assets (0.8) 0.6  
Company contributions 12.8 11.0  
Benefits paid (14.0) (12.1)  
Fair value of plan assets, end of year 3.2 5.2 5.7
Funded Status, end of year (112.3) (150.2)  
Amounts recognized in Consolidated Balance Sheet:      
Other current liabilities (7.6) (5.5)  
Postretirement health care and pension benefits (104.7) (144.7)  
Net liability (112.3) (150.2)  
Amounts recognized in Accumulated Other Comprehensive Loss (Income):      
Unrecognized net actuarial loss (gain) (43.6) (11.7)  
Tax (benefit) expense 7.7 1.2  
Accumulated other comprehensive loss (income), net of tax (35.9) (10.5)  
Change in Accumulated Other Comprehensive Loss (Income):      
Amortization of net actuarial gain (loss) 0.6 (0.7)  
Current period net actuarial loss (gain) (32.5) (12.3)  
Tax (benefit) expense 6.5 3.2  
Other comprehensive loss (income) (25.4) (9.8)  
Estimated amounts in accumulated other comprehensive loss expected to be reclassified to net period cost during 2021      
Net actuarial loss (gain) (3.1)    
Total (3.1)    
International Pension | Pension      
Defined Benefit Plan Disclosure      
Accumulated Benefit Obligation, end of year 1,171.1 1,696.2  
Projected Benefit Obligation      
Projected benefit obligation, beginning of year 1,779.7 1,834.2  
Service cost 28.4 31.4 30.8
Interest cost 22.0 17.3 22.3
Participant contributions 3.0 2.9  
Plan amendments   0.7  
Actuarial (gain) loss (436.8) (25.3)  
Assumed through acquisitions 15.1 34.0  
Other events   4.3  
Benefits paid (54.3) (68.5)  
Foreign currency translation (135.2) (51.3)  
Projected benefit obligation, end of year 1,221.9 1,779.7 1,834.2
Plan Assets      
Fair value of plan assets, beginning of year 1,219.9 1,148.0  
Actual returns on plan assets (218.3) 107.5  
Company contributions 38.3 40.7  
Participant contributions 3.0 2.9  
Acquired through acquisitions 15.1 12.9  
Benefits paid (54.3) (68.5)  
Foreign currency translation (98.6) (23.6)  
Fair value of plan assets, end of year 905.1 1,219.9 $ 1,148.0
Funded Status, end of year (316.8) (559.8)  
Amounts recognized in Consolidated Balance Sheet:      
Other assets 118.6 86.5  
Other current liabilities (28.6) (27.0)  
Postretirement health care and pension benefits (406.8) (619.3)  
Net liability (316.8) (559.8)  
Amounts recognized in Accumulated Other Comprehensive Loss (Income):      
Unrecognized net actuarial loss (gain) 279.7 485.7  
Unrecognized net prior service costs (benefits) 0.3 (0.2)  
Tax (benefit) expense (66.5) (117.8)  
Accumulated other comprehensive loss (income), net of tax 213.5 367.7  
Change in Accumulated Other Comprehensive Loss (Income):      
Amortization of net actuarial gain (loss) (22.7) (28.7)  
Amortization of prior service credits 0.1 0.1  
Current period net actuarial loss (gain) (147.8) (56.1)  
Current period prior service costs   0.7  
Curtailments and settlements   (3.5)  
Tax (benefit) expense 51.3 25.4  
Foreign currency translation (35.1) (12.7)  
Other comprehensive loss (income) (154.2) $ (74.8)  
Estimated amounts in accumulated other comprehensive loss expected to be reclassified to net period cost during 2021      
Net actuarial loss (gain) 11.6    
Net prior service costs (benefits) (0.3)    
Total $ 11.3