XML 61 R39.htm IDEA: XBRL DOCUMENT v3.6.0.2
PENSIONS AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]  
Retirement And Defined Compensation Plans Disclosures [Table Text Block]
The following table summarizes the annual expense (income) recognized related to the retirement plans for 2016, 2015 and 2014:
 
(In Millions)
 
2016
 
2015
 
2014
Defined benefit pension plans
$
16.5

 
$
23.9

 
$
26.2

Defined contribution pension plans
2.8

 
3.6

 
4.4

Other postretirement benefits
(4.0
)
 
4.4

 
(2.5
)
Total
$
15.3

 
$
31.9

 
$
28.1
Obligations and Funded Status
The following tables and information provide additional disclosures for the years ending December 31, 2016 and 2015:
 
(In Millions)
 
Pension Benefits
 
Other Benefits
Change in benefit obligations:
2016
 
2015
 
2016
 
2015
Benefit obligations — beginning of year
$
910.8

 
$
998.0

 
$
266.0

 
$
295.8

Service cost (excluding expenses)
17.6

 
22.7

 
1.7

 
1.9

Interest cost
30.3

 
37.7

 
9.1

 
11.5

Plan amendments
5.7

 
—

 
9.8

 
—

Actuarial (gain) loss
38.1

 
(67.7
)
 
(7.2
)
 
(27.0
)
Benefits paid
(70.9
)
 
(78.7
)
 
(21.3
)
 
(20.6
)
Participant contributions
—

 
—

 
6.0

 
4.0

Federal subsidy on benefits paid
—

 
—

 
0.5

 
0.4

Curtailment gain
—

 
(1.2
)
 
—

 
—

Benefit obligations — end of year
$
931.6

 
$
910.8

 
$
264.6

 
$
266.0

 
 
 
 
 
 
 
 
Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets — beginning of year
$
700.6

 
$
749.8

 
$
250.6

 
$
269.3

Actual return on plan assets
54.8

 
(6.4
)
 
16.0

 
(3.9
)
Participant contributions
—

 
—

 
0.5

 
0.4

Employer contributions
1.2

 
35.7

 
1.7

 
1.3

Asset transfers
0.1

 
0.2

 
—

 
—

Benefits paid
(70.9
)
 
(78.7
)
 
(15.8
)
 
(16.5
)
Fair value of plan assets — end of year
$
685.8

 
$
700.6

 
$
253.0

 
$
250.6

 
 
 
 
 
 
 
 
Funded status at December 31:
 
 
 
 
 
 
 
Fair value of plan assets
$
685.8

 
$
700.6

 
$
253.0

 
$
250.6

Benefit obligations
(931.6
)
 
(910.8
)
 
(264.6
)
 
(266.0
)
Funded status (plan assets less benefit obligations)
$
(245.8
)
 
$
(210.2
)
 
$
(11.6
)
 
$
(15.4
)
Amount recognized at December 31
$
(245.8
)
 
$
(210.2
)
 
$
(11.6
)
 
$
(15.4
)
 
 
 
 
 
 
 
 
Amounts recognized in Statements of Financial Position:
 
 
 
 
 
 
 
Noncurrent assets
$
—

 
$
—

 
$
27.3

 
$
—

Current liabilities
(0.1
)
 
(0.5
)
 
(4.1
)
 
(4.1
)
Noncurrent liabilities
(245.7
)
 
(209.7
)
 
(34.8
)
 
(11.3
)
Total amount recognized
$
(245.8
)
 
$
(210.2
)
 
$
(11.6
)
 
$
(15.4
)
 
 
 
 
 
 
 
 
Amounts recognized in accumulated other comprehensive loss:
 
 
 
 
 
 
 
Net actuarial loss
$
315.9

 
$
290.9

 
$
87.0

 
$
91.5

Prior service cost (credit)
11.0

 
7.5

 
(26.9
)
 
(39.5
)
Net amount recognized
$
326.9

 
$
298.4

 
$
60.1

 
$
52.0

 
 
 
 
 
 
 
 
The estimated amounts that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2017:
 
 
 
 
 
 
 
Net actuarial loss
$
21.1

 
 
 
$
5.0

 
 
Prior service cost (credit)
2.6

 
 
 
(3.0
)
 
 
Net amount recognized
$
23.7

 
 
 
$
2.0

 
 
Fair Value Of Plan Assets, Benefit Obligation And Funded Status
 
(In Millions)
 
2016
 
Pension Plans
 
Other Benefits
 
Salaried
 
Hourly
 
Mining
 
SERP
 
Total
 
Salaried
 
Hourly
 
Total
Fair value of plan assets
$
242.9

 
$
436.9

 
$
6.0

 
$
—

 
$
685.8

 
$
—

 
$
253.0

 
$
253.0

Benefit obligation
(351.9
)
 
(565.6
)
 
(10.0
)
 
(4.1
)
 
(931.6
)
 
(37.6
)
 
(227.0
)
 
(264.6
)
Funded status
$
(109.0
)
 
$
(128.7
)
 
$
(4.0
)
 
$
(4.1
)
 
$
(245.8
)
 
$
(37.6
)
 
$
26.0

 
$
(11.6
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
 
Pension Plans
 
Other Benefits
 
Salaried
 
Hourly
 
Mining
 
SERP
 
Total
 
Salaried
 
Hourly
 
Total
Fair value of plan assets
$
258.3

 
$
436.7

 
$
5.6

 
$
—

 
$
700.6

 
$
—

 
$
250.6

 
$
250.6

Benefit obligation
(340.0
)
 
(558.6
)
 
(8.6
)
 
(3.6
)
 
(910.8
)
 
(38.2
)
 
(227.8
)
 
(266.0
)
Funded status
$
(81.7
)
 
$
(121.9
)
 
$
(3.0
)
 
$
(3.6
)
 
$
(210.2
)
 
$
(38.2
)
 
$
22.8

 
$
(15.4
)
Components Of Net Periodic Benefit Cost
Components of Net Periodic Benefit Cost
 
(In Millions)
 
Pension Benefits
 
Other Benefits
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost
$
17.6

 
$
22.7

 
$
26.1

 
$
1.7

 
$
6.4

 
$
1.8

Interest cost
30.3

 
37.7

 
40.3

 
9.1

 
13.4

 
11.9

Expected return on plan assets
(54.7
)
 
(59.8
)
 
(58.1
)
 
(17.1
)
 
(18.3
)
 
(17.1
)
Amortization:

 

 

 

 

 

Prior service costs (credits)
2.2

 
2.3

 
2.5

 
(3.7
)
 
(3.7
)
 
(3.6
)
Net actuarial loss
21.1

 
20.8

 
14.0

 
6.0

 
6.6

 
4.5

Curtailments and settlements
—

 
0.2

 
1.4

 
—

 
—

 
—

Net periodic benefit cost (credit)
$
16.5

 
$
23.9

 
$
26.2

 
$
(4.0
)
 
$
4.4

 
$
(2.5
)
Curtailment effects
—

 
(1.2
)
 
—

 
—

 
—

 
—

Current year actuarial (gain)/loss
37.8

 
(0.7
)
 
109.7

 
(8.1
)
 
0.2

 
22.2

Amortization of net loss
(21.1
)
 
(21.0
)
 
(15.4
)
 
(6.0
)
 
(6.6
)
 
(4.5
)
Current year prior service (credit) cost
5.7

 
—

 
—

 
9.8

 
—

 
(0.9
)
Amortization of prior service (cost) credit
(2.2
)
 
(2.3
)
 
(2.5
)
 
3.7

 
3.7

 
3.6

Total recognized in other comprehensive income (loss)
$
20.2

 
$
(25.2
)
 
$
91.8

 
$
(0.6
)
 
$
(2.7
)
 
$
20.4

Total recognized in net periodic cost and other
    comprehensive income (loss)
$
36.7

 
$
(1.3
)
 
$
118.0

 
$
(4.6
)
 
$
1.7

 
$
17.9
Additional Information
Additional Information
 
(In Millions)
 
Pension Benefits
 
Other Benefits
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Effect of change in mine ownership & noncontrolling interest
$
14.2

 
$
48.4

 
$
51.2

 
$
5.9

 
$
5.5

 
$
5.9

Actual return on plan assets
54.8

 
(6.4
)
 
59.1

 
16.0

 
(3.9
)
 
31.9
Weighted-Average Assumptions Used to Determine Benefit Obligations
Weighted-average assumptions used to determine benefit obligations at December 31 were:
 
Pension Benefits
 
Other Benefits
 
2016
 
2015
 
2016
 
2015
Discount rate
 
 
 
 
 
 
 
 
 
 
 
Iron Hourly Pension Plan
4.02
%
 
4.27
%
 
N/A
%
 
N/A
%
Salaried Pension Plan
3.92
 
 
4.12
 
 
N/A
 
 
N/A
 
Ore Mining Pension Plan
4.04
 
 
4.28
 
 
N/A
 
 
N/A
 
SERP
3.90
 
 
4.22
 
 
N/A
 
 
N/A
 
Hourly OPEB Plan
N/A
 
 
N/A
 
 
4.02
 
 
4.32
 
Salaried OPEB Plan
N/A
 
 
N/A
 
 
3.99
 
 
4.22
 
Salaried rate of compensation increase
3.00
 
 
3.00
 
 
3.00
 
 
3.00
 
Hourly rate of compensation increase
2.00
 
 
2.00
 
 
N/A
 
 
N/A
 
Weighted-Average Assumptions Used To Determine Net Benefit Costs
Weighted-average assumptions used to determine net benefit cost for the years 2016, 2015 and 2014 were:
 
Pension Benefits
 
Other Benefits
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Obligation Discount Rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Iron Hourly Pension Plan
4.27
%
 
3.83
%
 
4.57
%
 
N/A
%
 
N/A
%
 
N/A
%
Salaried Pension Plan
4.13
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
Ore Mining Pension Plan
4.28
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
SERP
4.01
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
Hourly OPEB Plan
N/A
 
 
N/A
 
 
N/A
 
 
4.32
 
 
3.83
 
 
4.57
 
Salaried OPEB Plan
N/A
 
 
N/A
 
 
N/A
 
 
4.22
 
 
3.83
 
 
4.57
 
Service Cost Discount Rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Iron Hourly Pension Plan
4.66
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
Salaried Pension Plan
4.14
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
Ore Mining Pension Plan
4.60
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
SERP
3.87
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
Hourly OPEB Plan
N/A
 
 
N/A
 
 
N/A
 
 
4.56
 
 
3.83
 
 
4.57
 
Salaried OPEB Plan
N/A
 
 
N/A
 
 
N/A
 
 
4.63
 
 
3.83
 
 
4.57
 
Interest Cost Discount Rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Iron Hourly Pension Plan
3.46
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
Salaried Pension Plan
3.21
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
Ore Mining Pension Plan
3.48
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
SERP
3.30
 
 
3.83
 
 
4.57
 
 
N/A
 
 
N/A
 
 
N/A
 
Hourly OPEB Plan
N/A
 
 
N/A
 
 
N/A
 
 
3.48
 
 
3.83
 
 
4.57
 
Salaried OPEB Plan
N/A
 
 
N/A
 
 
N/A
 
 
3.31
 
 
3.83
 
 
4.57
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected return on plan assets
8.25
 
 
8.25
 
 
8.25
 
 
7.00
 
 
7.00
 
 
7.00
 
Salaried rate of compensation increase
3.00
 
 
3.00
 
 
4.00
 
 
3.00
 
 
3.00
 
 
4.00
 
Hourly rate of compensation increase
2.00
 
 
2.50
 
 
3.00
 
 
N/A
 
 
N/A
 
 
N/A
 
Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates at December 31 were:
 
2016
 
2015
Health care cost trend rate assumed for next year
6.50
%
 
6.75
%
Ultimate health care cost trend rate
5.00
 
 
5.00
 
Year that the ultimate rate is reached
2023
 
 
2023
 
Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates
A change of one percentage point in assumed health care cost trend rates would have the following effects:
 
(In Millions)
 
Increase
 
Decrease
Effect on total of service and interest cost
$
1.3

 
$
(1.0
)
Effect on postretirement benefit obligation
23.4

 
(19.6
)
Plan Assets and Asset Allocation
The following table reflects the actual asset allocations for pension and VEBA plan assets as of December 31, 2016 and 2015, as well as the 2017 weighted average target asset allocations as of December 31, 2016. Equity investments include securities in large-cap, mid-cap and small-cap companies located in the U.S. and worldwide. Fixed income investments primarily include corporate bonds and government debt securities. Alternative investments include hedge funds, private equity, structured credit and real estate.
 
Pension Assets
 
VEBA Assets
Asset Category
2017
Target
Allocation
 
Percentage of
Plan Assets at
December 31,
 
2017
Target
Allocation
 
Percentage of
Plan Assets at
December 31,
2016
 
2015
 
2016
 
2015
Equity securities
45.0
%
 
43.2
%
 
44.0
%
 
8.0
%
 
8.4
%
 
8.8
%
Fixed income
28.0
%
 
26.4
%
 
27.7
%
 
80.1
%
 
78.3
%
 
78.2
%
Hedge funds
5.0
%
 
5.9
%
 
5.8
%
 
4.2
%
 
4.4
%
 
4.5
%
Private equity
7.0
%
 
5.3
%
 
4.7
%
 
2.6
%
 
1.7
%
 
2.2
%
Structured credit
7.5
%
 
9.3
%
 
8.9
%
 
2.1
%
 
2.7
%
 
2.3
%
Real estate
7.5
%
 
9.0
%
 
8.2
%
 
3.0
%
 
4.4
%
 
4.0
%
Cash
—
%
 
0.9
%
 
0.7
%
 
—
%
 
0.1
%
 
—
%
Total
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%
Fair Value, Assets and Liabilities Measured on Recurring Basis
Pension
The fair values of our pension plan assets at December 31, 2016 and 2015 by asset category are as follows:
 
(In Millions)
 
December 31, 2016
Asset Category
Quoted Prices in Active
Markets for Identical
Assets/Liabilities
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Equity securities:
 
 
 
 
 
 
 
U.S. large-cap
$
144.7

 
$
—

 
$
—

 
$
144.7

U.S. small/mid-cap
39.9

 
—

 
—

 
39.9

International
111.8

 
—

 
—

 
111.8

Fixed income
157.5

 
23.7

 
—

 
181.2

Hedge funds
—

 
—

 
40.6

 
40.6

Private equity
—

 
—

 
36.1

 
36.1

Structured credit
—

 
—

 
63.8

 
63.8

Real estate
—

 
—

 
61.9

 
61.9

Cash
5.8

 
—

 
—

 
5.8

Total
$
459.7

 
$
23.7

 
$
202.4

 
$
685.8

 
(In Millions)
 
December 31, 2015
Asset Category
Quoted Prices in Active
Markets for Identical
Assets/Liabilities
(Level 1)
 
Significant  Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Equity securities:
 
 
 
 
 
 
 
U.S. large-cap
$
150.5

 
$
—

 
$
—

 
$
150.5

U.S. small/mid-cap
40.6

 
—

 
—

 
40.6

International
116.8

 
—

 
—

 
116.8

Fixed income
166.3

 
27.9

 
—

 
194.2

Hedge funds
—

 
—

 
40.7

 
40.7

Private equity
—

 
—

 
33.1

 
33.1

Structured credit
—

 
—

 
62.1

 
62.1

Real estate
—

 
—

 
57.5

 
57.5

Cash
5.1

 
—

 
—

 
5.1

Total
$
479.3

 
$
27.9

 
$
193.4

 
$
700.6
Effect of Fair Value Measurements Using Significant Unobservable Inputs on Changes in Plan Assets
The following represents the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets for the years ended December 31, 2016 and 2015:
 
(In Millions)
 
Year Ended December 31, 2016
 
Hedge Funds
 
Private Equity
Funds
 
Structured
Credit Fund
 
Real
Estate
 
Total
Beginning balance — January 1, 2016
$
40.7

 
$
33.1

 
$
62.1

 
$
57.5

 
$
193.4

Actual return on plan assets:

 

 

 

 
 
Relating to assets still held at
    the reporting date
(0.1
)
 
(2.7
)
 
10.0

 
5.1

 
12.3

Relating to assets sold during
    the period
—

 
3.7

 
(0.3
)
 
(0.1
)
 
3.3

Purchases
—

 
8.0

 
—

 
—

 
8.0

Sales
—

 
(6.0
)
 
(8.0
)
 
(0.6
)
 
(14.6
)
Ending balance — December 31, 2016
$
40.6

 
$
36.1

 
$
63.8

 
$
61.9

 
$
202.4

 
(In Millions)
 
Year Ended December 31, 2015
 
Hedge Funds
 
Private Equity
Funds
 
Structured
Credit Fund
 
Real
Estate
 
Total
Beginning balance — January 1, 2015
$
41.5

 
$
31.2

 
$
65.4

 
$
50.0

 
$
188.1

Actual return on plan assets:

 

 

 

 
 
Relating to assets still held at
    the reporting date
(0.8
)
 
1.5

 
(3.3
)
 
8.1

 
5.5

Relating to assets sold during
    the period
—

 
2.5

 
—

 
—

 
2.5

Purchases
—

 
5.7

 
—

 
—

 
5.7

Sales
—

 
(7.8
)
 
—

 
(0.6
)
 
(8.4
)
Ending balance — December 31, 2015
$
40.7

 
$
33.1

 
$
62.1

 
$
57.5

 
$
193.4
Schedule Of Annual Contributions
 
 
(In Millions)
 
 
Pension
Benefits
 
Other Benefits
Company Contributions
 
VEBA
 
Direct
Payments
 
Total
2015
 
$
35.7

 
$
—

 
$
3.5

 
$
3.5

2016
 
1.2

 
—

 
1.1

 
1.1

2017 (Expected)1
 
24.5

 
—

 
4.1

 
4.1

 
 
 
 
 
 
 
 
 
1 Pursuant to the bargaining agreement, benefits can be paid from VEBA trusts that are at least 70% funded (all VEBA trusts are over 70% funded at December 31, 2016). Funding obligations have been suspended as Hibbing's, UTAC's, Tilden's and Empire's share of the value of their respective trust assets have reached 90% of their obligation.
Estimated Net Periodic Benefit Cost
Estimated Cost for 2017
For 2017, we estimate net periodic benefit cost as follows:
 
(In Millions)
Defined benefit pension plans
$
18.6

Other postretirement benefits
(5.3
)
Total
$
13.3
Estimated Future Benefit Payments
Estimated Future Benefit Payments
 
(In Millions)
 
Pension
Benefits
 
Other Benefits
Gross
Company
Benefits
 
Less
Medicare
Subsidy
 
Net
Company
Payments
2017
$
77.3

 
$
19.7

 
$
0.6

 
$
19.1

2018
64.8

 
20.0

 
0.7

 
19.3

2019
63.3

 
19.1

 
0.8

 
18.3

2020
63.0

 
18.4

 
0.9

 
17.5

2021
62.4

 
17.6

 
0.9

 
16.7

2022-2026
308.0

 
81.8

 
5.2

 
76.6
Other Potential Benefit Obligations
Other Potential Benefit Obligations
While the foregoing reflects our obligation, our total exposure in the event of non-performance is potentially greater. Following is a summary comparison of the total obligation:
 
(In Millions)
 
December 31, 2016
 
Defined
Benefit
Pensions
 
Other
Benefits
Fair value of plan assets
$
685.8

 
$
253.0

Benefit obligation
(931.6
)
 
(264.6
)
Underfunded status of plan
$
(245.8
)
 
$
(11.6
)
Additional shutdown and early retirement benefits
$
22.1

 
$
2.2
Veba Trust [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value, Assets and Liabilities Measured on Recurring Basis
The fair values of our other benefit plan assets at December 31, 2016 and 2015 by asset category are as follows:
 
(In Millions)
 
December 31, 2016
Asset Category
Quoted Prices in Active
Markets for Identical
Assets/Liabilities
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Equity securities:
 
 
 
 
 
 
 
U.S. large-cap
$
10.6

 
$
—

 
$
—

 
$
10.6

U.S. small/mid-cap
2.7

 
—

 
—

 
2.7

International
8.1

 
—

 
—

 
8.1

Fixed income
162.0

 
35.9

 
—

 
197.9

Hedge funds
—

 
—

 
11.2

 
11.2

Private equity
—

 
—

 
4.3

 
4.3

Structured credit
—

 
—

 
6.9

 
6.9

Real estate
—

 
—

 
11.1

 
11.1

Cash
0.2

 
—

 
—

 
0.2

Total
$
183.6

 
$
35.9

 
$
33.5

 
$
253.0

 
(In Millions)
 
December 31, 2015
Asset Category
Quoted Prices in Active
Markets for Identical
Assets/Liabilities
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Equity securities:

 

 

 

U.S. large-cap
$
11.1

 
$
—

 
$
—

 
$
11.1

U.S. small/mid-cap
2.8

 
—

 
—

 
2.8

International
8.2

 
—

 
—

 
8.2

Fixed income
158.1

 
37.9

 
—

 
196.0

Hedge funds
—

 
—

 
11.2

 
11.2

Private equity
—

 
—

 
5.5

 
5.5

Structured credit
—

 
—

 
5.8

 
5.8

Real estate
—

 
—

 
10.0

 
10.0

Cash
—

 
—

 
—

 
—

Total
$
180.2

 
$
37.9

 
$
32.5

 
$
250.6
Effect of Fair Value Measurements Using Significant Unobservable Inputs on Changes in Plan Assets
The following represents the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets for the year ended December 31, 2016 and 2015:
 
(In Millions)
 
Year Ended December 31, 2016
 
Hedge 
Funds
 
Private Equity
Funds
 
Structured Credit Fund
 
Real
Estate
 
Total
Beginning balance — January 1, 2016
$
11.2

 
$
5.5

 
$
5.8

 
$
10.0

 
$
32.5

Actual return on plan assets:

 

 

 

 
 
Relating to assets still held at the reporting date
—

 
(0.3
)
 
1.1

 
1.1

 
1.9

Relating to assets sold during the period
—

 
0.1

 
—

 
—

 
0.1

Purchases
—

 
—

 
—

 
—

 
—

Sales
—

 
(1.0
)
 
—

 
—

 
(1.0
)
Ending balance — December 31, 2016
$
11.2

 
$
4.3

 
$
6.9

 
$
11.1

 
$
33.5

 
(In Millions)
 
Year Ended December 31, 2015
 
Hedge 
Funds
 
Private Equity
Funds
 
Structured Credit Fund
 
Real
Estate
 
Total
Beginning balance — January 1, 2015
$
11.5

 
$
6.2

 
$
6.1

 
$
8.7

 
$
32.5

Actual return on plan assets:

 

 

 

 
 
Relating to assets still held at the reporting date
(0.3
)
 
0.3

 
(0.3
)
 
1.3

 
1.0

Relating to assets sold during the period
—

 
0.4

 
—

 
—

 
0.4

Purchases
—

 
0.1

 
—

 
—

 
0.1

Sales
—

 
(1.5
)
 
—

 
—

 
(1.5
)
Ending balance — December 31, 2015
$
11.2

 
$
5.5

 
$
5.8

 
$
10.0

 
$
32.5