Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015	TARGET			LEVEL 1		LEVEL 2		TOTAL
Equities:
U.S. equities						$	593.8	$	593.8
Global equities							674.2		674.2
Total equities		50 - 70	%				1,268.0		1,268.0
Fixed income:
U.S. fixed income				$	283.4		348.2		631.6
Non-U.S. fixed income							253.7		253.7
Total fixed income		30 - 50	%		283.4		601.9		885.3
Cash and other					8.2		57.5		65.7
Total plan assets				$	291.6	$	1,927.4	$	2,219.0
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

Weighted Average Assumptions of Pension Plans

The following additional data relates to all pension plans of the Company:
At December 31,	2015			2014
Weighted average assumptions:
Discount rate		4.2	%		3.8	%
Rate of increase in future compensation levels		3.9	%		3.8	%
Assumed long-term rate of return on plan assets		6.5	%		6.5	%

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:

	2015			2014
Change in projected benefit obligation:
Benefit obligation at January 1	$	2,417.4		$	1,961.6
Service cost		91.3			67.3
Interest cost		92.2			91.8
Benefits paid		(121.3	)		(72.5	)
Actuarial (gain) loss		(141.6	)		412.8
Currency translation and other		(35.6	)		(47.6	)
Participant contributions		3.6			4.0
Projected benefit obligation at December 31	$	2,306.0		$	2,417.4
Change in plan assets:
Fair value of plan assets at January 1	$	2,309.4		$	2,108.4
Employer contributions		62.9			81.1
Actual return on plan assets		.3			235.8
Benefits paid		(121.3	)		(72.5	)
Currency translation and other		(35.9	)		(47.4	)
Participant contributions		3.6			4.0
Fair value of plan assets at December 31	$	2,219.0		$	2,309.4
Funded status at December 31	$	(87.0	)	$	(108.0	)

Amounts Recorded on Balance Sheets

The components of pension expense are as follows:

Year Ended December 31,	2015			2014			2013
Service cost	$	91.3		$	67.3		$	73.5
Interest on projected benefit obligation		92.2			91.8			81.0
Expected return on assets		(140.8	)		(128.0	)		(119.4	)
Amortization of prior service costs		1.3			1.2			1.3
Recognized actuarial loss		41.1			20.8			44.0
Curtailment gain		(.1	)					(.3	)
Net pension expense	$	85.0		$	53.1		$	80.1

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,	2015		2014
Projected benefit obligation	$	217.9	$	224.2
Accumulated benefit obligation		207.7		212.1
Fair value of plan assets		128.8		139.1

Components of Pension Expense

The components of pension expense are as follows:

Year Ended December 31,	2015			2014			2013
Service cost	$	91.3		$	67.3		$	73.5
Interest on projected benefit obligation		92.2			91.8			81.0
Expected return on assets		(140.8	)		(128.0	)		(119.4	)
Amortization of prior service costs		1.3			1.2			1.3
Recognized actuarial loss		41.1			20.8			44.0
Curtailment gain		(.1	)					(.3	)
Net pension expense	$	85.0		$	53.1		$	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		2015		2014		2013
Metal and Electrical Engineering Industry Pension Fund				135668	$	23.0	$	27.1	$	24.5
Western Metal Industry Pension Plan		91-6033499		001		2.1		2.0		1.5
Other plans						.9		1.0		.9
					$	26.0	$	30.1	$	26.9