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Pension and Other Benefits
6 Months Ended
Jun. 30, 2012
Pension And Other Postretirement Benefit Disclosure [Abstract]  
Pension And Other Postretirement Benefits Disclosure [Text Block]

9. Pension and Other Benefits

 

The following table sets forth the components of net pension and other benefit costs for the three and six months ended June 30, 2012 and 2011 (in millions):

 

  Pension Benefits Other Benefits
  2012 2011 2012 2011
             
Three Months Ended June 30           
Service cost$ 3.9 $ 3.5 $ - $ -
Interest cost  9.1   9.6   0.4   0.4
Expected return on plan assets (9.9)  (10.5)   -   -
Amortization of prior service cost  -   0.1   -   -
Amortization of actuarial losses/(gains)  4.1   2.1   (0.3)   (0.2)
Net periodic benefit cost$ 7.2 $ 4.8 $ 0.1 $ 0.2
            
Six Months Ended June 30           
Service cost$ 8.1 $ 7.0 $ - $ -
Interest cost  18.1   19.1   0.7   0.8
Expected return on plan assets  (19.9)   (21.0)   -   -
Amortization of prior service cost  0.1   0.2   -   -
Amortization of actuarial losses/(gains)  8.3   4.1   (0.5)   (0.4)
Net periodic benefit cost$ 14.7 $ 9.4 $ 0.2 $ 0.4

Employer Contributions

 

The Company anticipates making required contributions of approximately $2.6 million to its foreign pension plans during 2012, of which $1.3 million has been contributed through June 30, 2012. In addition, the Company may make a voluntary contribution to its foreign pension plans in 2012. Although not required under the Pension Protection Act of 2006, the Company made a $5.0 million voluntary contribution to its qualified domestic benefit pension plans during the six months ended June 30, 2012 and intends to make additional contributions during the remainder of the year.