XML 35 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
Pensions and Other Postretirement Benefits
6 Months Ended
Jun. 30, 2016
Pensions and Other Postretirement Benefits [Abstract]  
Pensions and Other Postretirement Benefits
Pensions and Other Postretirement Benefits
The following table summarizes the components of net annual benefit cost (income):
(in Millions)
Three Months Ended June 30
 
Six Months Ended June 30
Pensions
 
Other Benefits
 
Pensions
 
Other Benefits
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Components of net annual benefit cost (income):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
2.6

 
$
3.5

 
$

 
$

 
$
5.3

 
$
7.6

 
$

 
$

Interest cost
12.7

 
15.3

 
0.2

 
0.2

 
25.4

 
30.7

 
0.4

 
0.5

Expected return on plan assets
(21.9
)
 
(22.3
)
 

 

 
(43.7
)
 
(44.5
)
 

 

Amortization of prior service cost (credit)
0.2

 
0.2

 

 

 
0.4

 
0.5

 

 
0.1

Recognized net actuarial and other (gain) loss
10.3

 
15.2

 
(0.3
)
 
(0.2
)
 
20.5

 
28.2

 
(0.5
)
 
(0.5
)
Recognized loss due to curtailment (1)

 

 

 

 

 
4.8

 

 
0.5

Net periodic benefit cost (2)
$
3.9

 
$
11.9

 
$
(0.1
)
 
$

 
$
7.9

 
$
27.3

 
$
(0.1
)
 
$
0.6


____________________
(1)
Curtailment loss is associated with the disposal of our FMC Alkali Chemicals division and was recorded to discontinued operations within the condensed consolidated statements of income (loss).
(2)
Net periodic benefit cost represents both continuing and discontinued operations.
We made voluntary cash contributions to our U.S. defined benefit pension plan in the six months ended June 30, 2016 and June 30, 2015 of $21.0 million and $49.0 million, respectively. We expect to make approximately $35.0 million in voluntary cash contributions to our U.S. defined benefit pension plan during 2016.