Retirement and Other Postretirement Benefit Plans

3 Months Ended

Mar. 31, 2013

Retirement and Other Postretirement Benefit Plans

Retirement and Other Postretirement Benefit Plans

Note 4 — 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 ended March 31, 2013 and 2012 were as follows:

	Quarter Ended March 31,
(In millions)	2013		2012
U.S. Nonqualified Defined Benefit Retirement Plans
Service cost	$	0.7	$	0.3
Interest cost	0.2		0.3
Net amortization and deferral	0.7		0.6
Net periodic benefit cost	$	1.6	$	1.2

	March 31, 2013		December 31, 2012
Amounts recognized on the balance sheet:
Accrued liabilities	$	0.3	$	0.3
Other non-current liabilities	39.2		38.3
Total accrued benefit	$	39.5	$	38.6

	Quarter Ended March 31,
(In millions)	2013			2012
European Defined Benefit Retirement Plans
Service cost	$	0.1		$	0.1
Interest cost	1.7			1.7
Expected return on plan assets	(1.8		)	(1.8		)
Net amortization and deferral	0.2			0.2
Net periodic benefit cost	$	0.2		$	0.2

	March 31, 2013		December 31, 2012
Amounts recognized on the balance sheet:
Accrued liabilities	$	3.5	$	0.4
Other non-current liabilities	32.4		36.1
Total accrued benefit	$	35.9	$	36.5

Contributions

We generally fund our U.S. non-qualified defined benefit retirement plans when benefit payments are due.  Under the provisions of these non-qualified plans, we expect to contribute $0.3 million in 2013 to cover unfunded benefits.  We contributed $0.3 million to our U.S. non-qualified defined benefit retirement plans during the 2012 fiscal year.

We contributed $1.5 million and $1.6 million to our European defined benefit retirement plans in the first quarter of 2013 and 2012, respectively.  We plan to contribute approximately $5.8 million during 2013 to these European plans.  We contributed $5.7 million to our European defined benefit retirement plans during the 2012 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 ended March 31, 2013 and 2012 were immaterial.

	March 31, 2013		December 31, 2012
Amounts recognized on the balance sheet:
Accrued liabilities	$	0.6	$	0.6
Other non-current liabilities	7.4		7.5
Total accrued benefit	$	8.0	$	8.1

In connection with our postretirement plans, we contributed $0.1 million during each of the first quarters ended March 31, 2013 and 2012, respectively.  We periodically fund our postretirement plans to pay covered expenses as they are incurred.  We expect to contribute approximately $0.6 million in 2013 to cover unfunded benefits.  We contributed $0.3 million to our postretirement plans during the 2012 fiscal year.