Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Allocation of Plan Assets by Investment

The following information details the allocation of plan assets by investment type. See Note P for definitions of fair value levels.

At December 31, 2014	TARGET			LEVEL 1		LEVEL 2		TOTAL
Equities:
U.S. equities						$	666.4	$	666.4
Global equities							691.3		691.3
Total equities		50 - 70	%				1,357.7		1,357.7
Fixed income:
U.S. fixed income				$	269.4		339.2		608.6
Non-U.S. fixed income							286.5		286.5
Total fixed income		30 - 50	%		269.4		625.7		895.1
Cash and other					7.7		48.9		56.6
Total plan assets				$	277.1	$	2,032.3	$	2,309.4
At December 31, 2013	TARGET			LEVEL 1		LEVEL 2		TOTAL
Equities:
U.S. equities						$	585.5	$	585.5
Global equities							661.7		661.7
Total equities		50 - 70	%				1,247.2		1,247.2
Fixed income:
U.S. fixed income				$	252.5		299.6		552.1
Non-U.S. fixed income							260.3		260.3
Total fixed income		30 - 50	%		252.5		559.9		812.4
Cash and other					1.2		47.6		48.8
Total plan assets				$	253.7	$	1,854.7	$	2,108.4

Weighted Average Assumptions of Pension Plans

The following additional data relates to all pension plans of the Company:
At December 31,	2014			2013
Weighted average assumptions:
Discount rate		3.8	%		4.7	%
Rate of increase in future compensation levels		3.8	%		3.9	%
Assumed long-term rate of return on plan assets		6.5	%		6.6	%

Components of Change in Projected Benefit Obligation and Change in Plan Assets

The components of the change in projected benefit obligation and change in plan assets are as follows:

	2014			2013
Change in projected benefit obligation:
Benefit obligation at January 1	$	1,961.6		$	2,068.0
Service cost		67.3			73.5
Interest cost		91.8			81.0
Benefits paid		(72.5	)		(68.4	)
Actuarial loss (gain)		412.8			(199.2	)
Currency translation and other		(47.6	)		3.2
Participant contributions		4.0			3.5
Projected benefit obligation at December 31	$	2,417.4		$	1,961.6
Change in plan assets:
Fair value of plan assets at January 1	$	2,108.4		$	1,901.0
Employer contributions		81.1			26.2
Actual return on plan assets		235.8			242.5
Benefits paid		(72.5	)		(68.4	)
Currency translation and other		(47.4	)		3.6
Participant contributions		4.0			3.5
Fair value of plan assets at December 31	$	2,309.4		$	2,108.4
Funded status at December 31	$	(108.0	)	$	146.8

Amounts Recorded on Balance Sheets

	2014		2013
Amounts recorded on balance sheet:
Other noncurrent assets	$	15.0	$	217.7
Other liabilities		123.0		70.9
Accumulated other comprehensive (loss) income:
Actuarial loss		428.9		257.0
Prior service cost		3.9		4.9
Net initial transition amount		.3		.3

Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets

Information for all plans with an accumulated benefit obligation in excess of plan assets is as follows:
At December 31,	2014		2013
Projected benefit obligation	$	224.2	$	78.6
Accumulated benefit obligation		212.1		63.4
Fair value of plan assets		139.1		9.2

Components of Pension Expense

The components of pension expense are as follows:

Year Ended December 31,	2014			2013			2012
Service cost	$	67.3		$	73.5		$	64.1
Interest on projected benefit obligation		91.8			81.0			81.4
Expected return on assets		(128.0	)		(119.4	)		(110.8	)
Amortization of prior service costs		1.2			1.3			1.4
Recognized actuarial loss		20.8			44.0			39.2
Curtailment gain					(.3	)
Settlement loss								4.8
Net pension expense	$	53.1		$	80.1		$	80.1

Multi-employer Plans

The Company’s participation in the following multi-employer plans for the years ended December 31 are as follows:

			PENSION PLAN		COMPANY CONTRIBUTIONS
PENSION PLAN	EIN		NUMBER		2014		2013		2012
Metal and Electrical Engineering Industry Pension Fund				135668	$	27.1	$	24.5	$	22.0
Western Metal Industry Pension Plan		91-6033499		001		2.0		1.5		1.6
Other plans						1.0		.9		1.0
					$	30.1	$	26.9	$	24.6