PENSION PLANS (Tables)

12 Months Ended

Dec. 31, 2013

Changes in the benefit obligation and plan assets were as follows:



	December 31, 2013									December 31, 2012
	($ in millions)									($ in millions)
Change in Benefit Obligation	U.S.			Foreign			Total			U.S.			Foreign			Total
Benefit obligation at beginning of year	$	2,070.8		$	68.4		$	2,139.2		$	1,884.9		$	64.5		$	1,949.4
Service cost	2.8			0.6			3.4			2.8			0.7			3.5
Interest cost	78.4			2.7			81.1			89.2			2.8			92.0
Actuarial (gain) loss	(107.7		)	(1.7		)	(109.4		)	220.8			2.3			223.1
Benefits paid	(127.8		)	(3.5		)	(131.3		)	(126.9		)	(3.3		)	(130.2		)
Currency translation adjustments	—			(4.3		)	(4.3		)	—			1.4			1.4
Benefit obligation at end of year	$	1,916.5		$	62.2		$	1,978.7		$	2,070.8		$	68.4		$	2,139.2



	December 31, 2013									December 31, 2012
	($ in millions)									($ in millions)
Change in Plan Assets	U.S.			Foreign			Total			U.S.			Foreign			Total
Fair value of plans’ assets at beginning of year	$	1,912.5		$	68.5		$	1,981.0		$	1,842.6		$	64.3		$	1,906.9
Actual return on plans’ assets	10.7			0.3			11.0			193.0			5.1			198.1
Employer contributions	3.2			1.2			4.4			3.8			1.0			4.8
Benefits paid	(127.8		)	(3.5		)	(131.3		)	(126.9		)	(3.3		)	(130.2		)
Currency translation adjustments	—			(4.4		)	(4.4		)	—			1.4			1.4
Fair value of plans’ assets at end of year	$	1,798.6		$	62.1		$	1,860.7		$	1,912.5		$	68.5		$	1,981.0

Amounts recognized in the consolidated balance sheets consisted of:



	December 31, 2013									December 31, 2012
	($ in millions)									($ in millions)
	U.S.			Foreign			Total			U.S.			Foreign			Total
Prepaid benefit cost	$	—		$	1.7		$	1.7		$	—		$	2.1		$	2.1
Accrued benefit in current liabilities	(14.2		)	(0.1		)	(14.3		)	(6.0		)	(0.1		)	(6.1		)
Accrued benefit in noncurrent liabilities	(103.7		)	(1.7		)	(105.4		)	(152.3		)	(1.9		)	(154.2		)
Accumulated other comprehensive loss	540.9			20.7			561.6			557.0			19.9			576.9
Net balance sheet impact	$	423.0		$	20.6		$	443.6		$	398.7		$	20.0		$	418.7



	December 31,
	2013		2012
	($ in millions)
Projected benefit obligation	$	1,978.7	$	2,139.2
Accumulated benefit obligation	1,968.9		2,125.8
Fair value of plan assets	1,860.7		1,981.0



	Years Ended December 31,
Components of Net Periodic Benefit Income	2013			2012			2011
	($ in millions)
Service cost	$	6.2		$	6.1		$	6.1
Interest cost	81.1			92.0			94.2
Expected return on plans’ assets	(137.5		)	(139.5		)	(139.5		)
Amortization of prior service cost	1.9			2.2			0.8
Recognized actuarial loss	27.8			18.1			14.8
Curtailments	—			—			1.1
Net periodic benefit income	$	(20.5	)	$	(21.1	)	$	(22.5	)

Included in Other Comprehensive Loss (Pretax)
Liability adjustment	$	14.4		$	162.0		$	41.8
Amortization of prior service costs and actuarial losses	(29.7		)	(20.3		)	(16.7		)



	U.S. Pension Benefits						Foreign Pension Benefits
Weighted Average Assumptions:	2013		2012		2011		2013		2012		2011
Discount rate—periodic benefit cost	3.9	%	4.9	%	5.3	%	4.2	%	4.4	%	5.5	%
Expected return on assets	7.75	%	8.0	%	8.25	%	7.75	%	8.0	%	8.0	%
Rate of compensation increase	3.0	%	3.0	%	3.0	%	3.5	%	3.5	%	3.5	%
Discount rate—benefit obligation	4.5	%	3.9	%	4.9	%	4.8	%	4.2	%	4.4	%

The following rates of return by asset class were considered in setting the long-term rate of return assumption:

Our pension plan asset allocation at December 31, 2013 and 2012, by asset class was as follows:

The following table summarizes our domestic and foreign defined benefit pension plan assets measured at fair value as of December 31, 2013:



Asset Class	Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	($ in millions)
Equity securities
U.S. equities	$	83.2	$	14.8	$	—	$	98.0
Non-U.S. equities	41.1		112.1		—		153.2
Fixed income / cash
Cash	53.9		—		—		53.9
Government treasuries	—		398.8		4.5		403.3
Corporate debt instruments	0.4		314.4		21.5		336.3
Asset-backed securities	—		152.3		—		152.3
Alternative investments
Hedge fund of funds	—		—		315.9		315.9
Real estate funds	—		—		35.7		35.7
Private equity funds	—		—		17.9		17.9
Absolute return strategies	—		275.5		18.7		294.2
Total assets	$	178.6	$	1,267.9	$	414.2	$	1,860.7

The following table summarizes our domestic and foreign defined benefit pension plan assets measured at fair value as of December 31, 2012:



Asset Class	Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	($ in millions)
Equity securities
U.S. equities	$	94.8	$	16.9	$	—	$	111.7
Non-U.S. equities	42.9		105.6		—		148.5
Fixed income / cash
Cash	38.2		—		—		38.2
Government treasuries	—		501.7		5.6		507.3
Corporate debt instruments	1.8		358.0		12.2		372.0
Asset-backed securities	—		141.9		—		141.9
Alternative investments
Hedge fund of funds	—		—		286.9		286.9
Real estate funds	—		—		38.2		38.2
Private equity funds	—		—		18.5		18.5
Absolute return strategies	—		277.0		40.8		317.8
Total assets	$	177.7	$	1,401.1	$	402.2	$	1,981.0

The following table summarizes the activity for our defined benefit pension plans level 3 assets for the year ended December 31, 2013:



	December 31, 2012		Realized Gain/(Loss)		Unrealized Gain/(Loss) Relating to Assets Held at Period End			Purchases, Sales, and Settlements			Transfers In/(Out)		December 31, 2013
	($ in millions)
Fixed income / cash
Government treasuries	$	5.6	$	0.1	$	(1.1	)	$	(0.1	)	$	—	$	4.5
Corporate debt instruments	12.2		—		1.3			8.0			—		21.5
Alternative investments
Hedge fund of funds	286.9		—		29.0			—			—		315.9
Real estate funds	38.2		1.0		1.9			(5.4		)	—		35.7
Private equity funds	18.5		0.8		(0.5		)	(0.9		)	—		17.9
Absolute return strategies	40.8		9.4		(7.0		)	(24.5		)	—		18.7
Total level 3 assets	$	402.2	$	11.3	$	23.6		$	(22.9	)	$	—	$	414.2

The following table summarizes the activity for our defined benefit pension plans level 3 assets for the year ended December 31, 2012:



	December 31, 2011		Realized Gain/(Loss)		Unrealized Gain/(Loss) Relating to Assets Held at Period End		Purchases, Sales, and Settlements			Transfers In/(Out)		December 31, 2012
	($ in millions)
Fixed income / cash
Government treasuries	$	5.5	$	—	$	0.5	$	(0.4	)	$	—	$	5.6
Corporate debt instruments	2.9		0.3		0.1		8.9			—		12.2
Alternative investments
Hedge fund of funds	258.3		—		25.6		3.0			—		286.9
Real estate funds	33.9		0.8		2.4		1.1			—		38.2
Private equity funds	16.8		—		1.3		0.4			—		18.5
Absolute return strategies	35.2		—		3.0		2.6			—		40.8
Total level 3 assets	$	352.6	$	1.1	$	32.9	$	15.6		$	—	$	402.2