Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Reconciliations of Benefit Obligations, Plan Assets of Pension Plans and Funded Status of Plans

The following tables present reconciliations of plan benefit obligations, fair value of plan assets and the funded status of pension plans and other post-retirement plans as of and for the years ended December 31, 2016 and 2015:

	U.S. pension plans						Non-U.S. pension plans						Other post-retirement plans
In millions	2016			2015			2016			2015			2016			2015
Change in benefit obligations
Benefit obligation beginning of year	$	396.9		$	416.2		$	173.4		$	189.6		$	38.8		$	41.5
Service cost	11.2			14.0			6.6			7.8			0.2			0.2
Interest cost	16.4			14.9			4.1			3.9			1.5			1.5
Actuarial loss (gain)	0.9			(39.1		)	16.8			(6.5		)	(0.5		)	(0.9		)
Foreign currency translation	—			—			(9.2		)	(17.0		)	—			—
Benefits paid	(12.1		)	(9.1		)	(4.9		)	(4.4		)	(3.1		)	(3.5		)
Benefit obligation end of year	$	413.3		$	396.9		$	186.8		$	173.4		$	36.9		$	38.8
Change in plan assets
Fair value of plan assets beginning of year	$	327.7		$	343.9		$	46.6		$	49.9		$	—		$	—
Actual return on plan assets	24.6			(11.1		)	3.0			1.3			—			—
Company contributions	4.2			4.0			5.8			5.2			3.1			3.5
Foreign currency translation	—			—			(4.8		)	(5.4		)	—			—
Benefits paid	(12.1		)	(9.1		)	(4.9		)	(4.4		)	(3.1		)	(3.5		)
Fair value of plan assets end of year	$	344.4		$	327.7		$	45.7		$	46.6		$	—		$	—
Funded status
Benefit obligations in excess of the fair value of plan assets	$	(68.9	)	$	(69.2	)	$	(141.1	)	$	(126.8	)	$	(36.9	)	$	(38.8	)

Amounts Recognized in Consolidated Balance Sheets

Amounts recorded in the Consolidated Balance Sheets were as follows:

	U.S. pension plans						Non-U.S. pension plans						Other post-retirement plans
In millions	2016			2015			2016			2015			2016			2015
Other non-current assets	$	0.8		$	0.5		$	3.2		$	4.5		$	—		$	—
Current liabilities	(4.4		)	(4.1		)	(2.9		)	(3.0		)	(3.2		)	(3.3		)
Non-current liabilities	(65.3		)	(65.6		)	(141.4		)	(128.3		)	(33.7		)	(35.5		)
Benefit obligations in excess of the fair value of plan assets	$	(68.9	)	$	(69.2	)	$	(141.1	)	$	(126.8	)	$	(36.9	)	$	(38.8	)

Pension Plans with an Accumulated Benefit Obligation or Projected Benefit Obligation in Excess of Plan Assets

Information for pension plans with an accumulated benefit obligation or projected benefit obligation in excess of plan assets as of December 31 was as follows:

	Projected benefit obligation exceeds the fair value of plan assets				Accumulated benefit  obligation exceeds the fair value of plan assets
In millions	2016		2015		2016		2015
U.S. pension plans
Projected benefit obligation	$	87.2	$	86.4	$	87.2	$	86.4
Fair value of plan assets	17.5		16.6		17.5		16.6
Accumulated benefit obligation	N/A		N/A		86.3		82.4
Non-U.S. pension plans
Projected benefit obligation	$	165.2	$	152.7	$	165.2	$	145.0
Fair value of plan assets	20.9		21.4		20.9		14.2
Accumulated benefit obligation	NA		NA		155.7		136.8

Weighted-Average Assumptions used to Determine Domestic Benefit Obligations and Domestic Net Periodic Benefit Cost

Weighted-average assumptions used to determine net periodic benefit expense (income) for years ended December 31 were as follows:

	U.S. pension plans						Non-U.S. pension plans						Other post-retirement plans
Percentages	2016		2015		2014		2016		2015		2014		2016		2015		2014
Discount rate	4.21	%	3.63	%	4.51	%	2.52	%	2.30	%	3.73	%	3.95	%	3.60	%	4.35	%
Expected long-term return on plan assets	4.28	%	3.65	%	4.56	%	3.29	%	3.57	%	4.19	%	—		—		—
Rate of compensation increase	4.00	%	4.00	%	4.00	%	2.90	%	2.89	%	2.94	%	—		—		—

Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:

	U.S. pension plans						Non-U.S. pension plans						Other post-retirement plans
Percentages	2016		2015		2014		2016		2015		2014		2016		2015		2014
Discount rate	4.02	%	4.21	%	3.63	%	2.00	%	2.52	%	2.30	%	3.80	%	3.95	%	3.60	%
Rate of compensation increase	4.00	%	4.00	%	4.00	%	2.91	%	2.90	%	2.89	%	—		—		—

Assumed Health Care Cost Trend Rates

The assumed healthcare cost trend rates for other post-retirement plans as of December 31 were as follows:

	2016		2015
Healthcare cost trend rate assumed for following year	7.0	%	7.4	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.4	%	4.4	%
Year the cost trend rate reaches the ultimate trend rate	2038		2038

Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage-point change in the assumed healthcare cost trend rates would have the following effects as of and for the year ended December 31, 2016:

	One Percentage Point
In millions	Increase		Decrease
Increase (decrease) in annual service and interest cost	$	0.1	$	(0.1	)
Increase (decrease) in other post-retirement benefit obligations	0.8		(0.7		)

Actual Overall Asset Allocation for U.S. And Non-U.S. Plans as Compared to Investment Policy Goals

Our actual overall asset allocation for our U.S. and non-U.S. pension plans as compared to our investment policy goals as of December 31 was as follows:

	U.S. pension plans
	Actual				Target
Percentages	2016		2015		2016		2015
Fixed income	99	%	98	%	100	%	100	%
Alternative	1	%	2	%	—	%	—	%

	Non-U.S. pension plans
	Actual				Target
Percentages	2016		2015		2016		2015
Equity securities	23	%	23	%	23	%	22	%
Fixed income	46	%	46	%	48	%	48	%
Alternative	26	%	27	%	27	%	28	%
Cash	5	%	4	%	2	%	2	%

Plan Assets Using Fair Value Hierarchy

The fair values of our pension plan assets and their respective levels in the fair value hierarchy as of December 31, 2016 and December 31, 2015 were as follows:

	December 31, 2016
In millions	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	—	$	3.4	$	—	$	3.4
Fixed income:
Corporate and non U.S. government	—		290.5		—		290.5
U.S. treasuries	—		30.5		—		30.5
Mortgage-backed securities	—		4.5		—		4.5
Other	—		37.0		—		37.0
Global equity securities:
Large cap equity	—		2.2		—		2.2
International equity	—		8.3		—		8.3
Other investments	—		11.7		2.0		13.7
Total fair value of plan assets	$	—	$	388.1	$	2.0	$	390.1

	December 31, 2015
In millions	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	—	$	3.1	$	—	$	3.1
Fixed income:
Corporate and non U.S. government	—		248.6		—		248.6
U.S. treasuries	—		52.0		—		52.0
Mortgage-backed securities	—		5.8		—		5.8
Other	—		37.2		—		37.2
Global equity securities:
Large cap equity	—		2.4		—		2.4
International equity	—		7.8		—		7.8
Other investments	—		13.3		4.1		17.4
Total fair value of plan assets	$	—	$	370.2	$	4.1	$	374.3

Expected Future Service to Be Paid by Plans

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans for the years ended December 31 as follows:

In millions	U.S. pension plans		Non-U.S. pension plans		Other post- retirement plans
2017	$	13.9	$	4.3	$	3.1
2018	16.2		4.6		3.1
2019	18.5		5.5		3.1
2020	19.3		7.3		3.0
2021	19.3		5.2		2.9
Thereafter	113.4		33.1		12.5

Pension benefits

Components of Net Periodic Benefit Cost

Components of net periodic benefit expense for our pension plans for the years ended December 31 were as follows:

	U. S. pension plans									Non-U.S. pension plans
In millions	2016			2015			2014			2016			2015			2014
Service cost	$	11.2		$	14.0		$	13.1		$	6.6		$	7.8		$	5.3
Interest cost	16.4			14.9			15.4			4.1			3.9			5.3
Expected return on plan assets	(11.4		)	(10.0		)	(10.5		)	(1.5		)	(1.6		)	(1.7		)
Net actuarial (gain) loss	(12.4		)	(18.0		)	(3.1		)	17.2			(2.4		)	31.5
Net periodic benefit expense	$	3.8		$	0.9		$	14.9		$	26.4		$	7.7		$	40.4

Post-retirement

Components of Net Periodic Benefit Cost

Components of net periodic benefit expense for our other post-retirement plans for the years ended December 31 2016, 2015 and 2014, were not material.