XML 19 R19.htm IDEA: XBRL DOCUMENT v2.3.0.15
Retirement Benefit Plans
9 Months Ended
Sep. 30, 2011
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] 
Pension and Other Postretirement Benefits Disclosure [Text Block]
Retirement Benefit Plans

The Company maintains various defined benefit pension plans that provide benefits based on years of service and average compensation during certain periods. The Company's policy is to make contributions to fund these plans within the range allowed by applicable regulations. Plan assets consist primarily of publicly traded stocks and government and corporate bonds.
Pension benefits are frozen for all employees other than certain NACoal unconsolidated mines' employees and NMHG employees in the United Kingdom and the Netherlands. All other eligible employees of the Company, including employees whose pension benefits are frozen, receive retirement benefits under defined contribution retirement plans.

The Company also maintains health care and life insurance plans that provide benefits to a limited number of eligible retired employees. These plans have no assets. Under the Company's current policy, plan benefits are funded at the time they are due to participants. Effective December 31, 2011, NMHG will eliminate all retiree life insurance plans and its subsidized retiree medical plan for employees who have not retired before such date. As of January 1, 2012, the Company will no longer maintain any retiree life insurance plans. Accordingly, the Company recognized a gain of approximately $2.9 million during the third quarter of 2011 due to the NMHG plan amendments.

The components of pension and postretirement (income) expense are set forth below:
 
THREE MONTHS ENDED
 
NINE MONTHS ENDED
 
SEPTEMBER 30
 
SEPTEMBER 30
 
2011
 
2010
 
2011
 
2010
U.S. Pension
 
 
 
 
 
 
 
Service cost
$
—

 
$
—

 
$
—

 
$
—

Interest cost
1.9

 
1.9

 
5.6

 
5.9

Expected return on plan assets
(2.3
)
 
(2.1
)
 
(7.1
)
 
(6.4
)
Amortization of actuarial loss
1.3

 
1.2

 
4.1

 
3.6

Amortization of prior service credit
(0.1
)
 
—

 
(0.3
)
 
(0.2
)
Total
$
0.8

 
$
1.0

 
$
2.3

 
$
2.9

Non-U.S. Pension
 
 
 
 
 
 
 
Service cost
$
0.5

 
$
0.4

 
$
1.6

 
$
1.2

Interest cost
1.9

 
1.8

 
5.7

 
5.3

Expected return on plan assets
(2.4
)
 
(2.2
)
 
(7.2
)
 
(6.5
)
Amortization of actuarial loss
1.0

 
0.7

 
3.0

 
2.2

Amortization of prior service credit
—

 
(0.1
)
 
(0.1
)
 
(0.1
)
Amortization of transition liability
—

 
0.1

 
0.1

 
0.1

Total
$
1.0

 
$
0.7

 
$
3.1

 
$
2.2

Postretirement
 
 
 
 
 
 
 
Service cost
$
—

 
$
—

 
$
0.1

 
$
0.1

Interest cost
0.1

 
0.1

 
0.3

 
0.3

Amortization of prior service credit
—

 
—

 
(0.1
)
 
(0.3
)
Plan amendments
(2.9
)
 
—

 
(2.9
)
 
(0.7
)
Total
$
(2.8
)
 
$
0.1

 
$
(2.6
)
 
$
(0.6
)