Employee Benefit Plans

9 Months Ended

Sep. 30, 2020

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

NOTE L - Employee Benefit Plans

The Company has several defined benefit pension plans, which cover a majority of its employees. The following information details the components of net pension expense for the Company’s defined benefit plans:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2020			2019			2020			2019
Service cost	$	32.8		$	25.3		$	98.0		$	77.1
Interest on projected benefit obligation		20.8			23.7			62.1			71.7
Expected return on assets		(47.6	)		(43.8	)		(142.3	)		(132.3	)
Amortization of prior service costs		.4			.4			1.1			1.1
Recognized actuarial loss		11.1			5.0			33.1			15.3
Settlement loss		.5						8.5
Net pension expense	$	18.0		$	10.6		$	60.5		$	32.9

The components of net pension expense other than service cost are included in Interest and other (income), net on the Consolidated Statements of Comprehensive Income.

During the three and nine months ended September 30, 2020, the Company contributed $86.7 and $126.6 to its pension plans, respectively, and $5.3 and $16.5 for the three and nine months ended September 30, 2019, respectively.