Retirement and Other Postretirement Benefit Plans

9 Months Ended

Sep. 30, 2011

Retirement and Other Postretirement Benefit Plans.

Retirement and Other Postretirement Benefit Plans

Note 6 — Retirement and Other Postretirement Benefit Plans

We maintain qualified and nonqualified defined benefit retirement plans covering certain current and former U.S. and European employees, retirement savings plans covering eligible U.S. employees and certain postretirement health care and life insurance benefit plans covering eligible U.S. retirees.  We also participate in a union sponsored multi-employer pension plan covering certain U.S. employees with union affiliations.

Defined Benefit Retirement Plans

Net Periodic Benefit Costs

Net periodic benefit costs of our defined benefit retirement plans for the quarters and nine months ended September 30, 2011 and 2010 were as follows:

	Quarter Ended September 30,				Nine Months Ended September 30,
(In millions)	2011		2010		2011		2010
U.S. Nonqualified Defined Benefit Retirement Plans
Service cost	$	0.5	$	0.3	$	1.0	$	0.9
Interest cost	0.3		0.3		0.8		0.8
Net amortization and deferral	0.5		0.2		1.1		0.6
Net periodic benefit cost	$	1.3	$	0.8	$	2.9	$	2.3

	September 30, 2011		December 31, 2010
Amounts recognized on the balance sheet:
Accrued liabilities	$	0.9	$	0.9
Other non-current liabilities	28.9		26.9
Total accrued benefit	$	29.8	$	27.8

	Quarter Ended September 30,						Nine Months Ended September 30,
(In millions)	2011			2010			2011			2010
European Defined Benefit Retirement Plans
Service cost	$	0.1		$	1.0		$	1.0		$	2.9
Interest cost	1.8			1.8			5.4			5.6
Expected return on plan assets	(1.9		)	(1.6		)	(5.8		)	(4.8		)
Net amortization and deferral	0.1			0.4			0.4			1.0
Curtailment gain	—			—			(5.7		)	—
Net periodic benefit cost	$	0.1		$	1.6		$	(4.7	)	$	4.7

	September 30, 2011		December 31, 2010
Amounts recognized on the balance sheet:
Accrued liabilities	$	3.1	$	0.5
Other non-current liabilities	15.9		26.7
Total accrued benefit	$	19.0	$	27.2

As discussed in Note 3, effective January 31, 2011 credited service for the participants in our U.K. defined benefit plan was frozen.  This change reduced the projected plan obligation by $1.6 million and also resulted in recognizing $5.7 million of prior unrecognized service credits as a curtailment gain.  The defined benefit plan was replaced by a defined contribution plan.

Contributions

We generally fund our U.S. non-qualified defined benefit retirement plans when benefit payments are incurred.  Under the provisions of these non-qualified plans, we expect to contribute $0.9 million in 2011 to cover unfunded benefits.  We contributed $0.6 million to our U.S. non-qualified defined benefit retirement plans during the 2010 fiscal year.

We contributed $2.9 million and $3.5 million to our European defined benefit retirement plans in the third quarters of 2011 and 2010, respectively.  Contributions were $6.8 million and $6.1 million for the nine months ended September 30, 2011 and 2010, respectively.  We plan to contribute approximately $7.4 million during 2011 to our European plans.  We contributed $9.0 million to our European plans during the 2010 fiscal year.

Postretirement Health Care and Life Insurance Benefit Plans

Net periodic benefit costs of our postretirement health care and life insurance benefit plans for the quarters and nine months ended September 30, 2011 and 2010 were immaterial.

(In millions)	September 30, 2011		December 31, 2010
Amounts recognized on the balance sheet:
Accrued liabilities	$	0.8	$	0.8
Other non-current liabilities	8.7		8.6
Total accrued benefit	$	9.5	$	9.4

In connection with our postretirement plans, we contributed $0.1 million during each of the third quarters of 2011 and 2010, respectively, and $0.2 million and $0.3 million during the nine-month periods ended September 30, 2011 and 2010, respectively.  We periodically fund our postretirement plans to pay covered expenses as they are incurred.  Under the provisions of these postretirement plans, we expect to contribute approximately $0.4 million in 2011 to cover unfunded benefits.  We contributed $0.4 million to our postretirement plans during the 2010 fiscal year.