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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2012
Employee Benefit Plans  
Schedule of funded status of the defined benefit plans and amounts recognized in the consolidated balance sheets

 

 

 
  December 31,  
 
  2012   2011  
 
  (in millions)
 

Change in projected benefit obligation

             

Balance at beginning of the year

  $ 121.2   $ 112.6  

Service cost

    0.6     5.3  

Administration costs paid

    (0.9 )   (0.6 )

Interest cost

    5.7     6.0  

Actuarial loss

    15.6     13.6  

Benefits paid

    (4.2 )   (3.2 )

Curtailment adjustment

        (12.5 )
           

Balance at end of year

  $ 138.0   $ 121.2  
           

Change in fair value of plan assets

             

Balance at beginning of the year

  $ 108.4   $ 90.3  

Actual gain on assets

    11.8     14.1  

Employer contributions

    0.7     7.8  

Administration costs paid

    (0.9 )   (0.6 )

Benefits paid

    (4.2 )   (3.2 )
           

Fair value of plan assets at end of the year

  $ 115.8   $ 108.4  
           

Funded status at end of year

  $ (22.2 ) $ (12.8 )
           

        

Schedule of amounts recognized in the consolidated balance sheets

 

 

 
  December 31,  
 
  2012   2011  
 
  (in millions)
 

Current liabilities

  $ (0.6 ) $ (0.2 )

Noncurrent liabilities

    (21.6 )   (12.6 )
           

Net amount recognized

  $ (22.2 ) $ (12.8 )
           

        

Schedule of amounts recognized in accumulated other comprehensive income

 

 

 
  December 31,  
 
  2012   2011  
 
  (in millions)
 

Net actuarial loss recognized

  $ 41.2   $ 31.1  
           

        

Information for pension plans with an accumulated benefit obligation in excess of plan assets

 

 

 
  December 31,  
 
  2012   2011  
 
  (in millions)
 

Projected benefit obligation

  $ 138.0   $ 13.6  

Accumulated benefit obligation

  $ 138.0   $ 13.6  

Fair value of plan assets

  $ 115.8   $  

        

Information for pension plans with plan assets in excess of accumulated benefit obligation

 

 

 
  December 31,  
 
  2012   2011  
 
  (in millions)
 

Projected benefit obligation

  $   $ 107.6  

Accumulated benefit obligation

  $   $ 107.6  

Fair value of plan assets

  $   $ 108.4  

        

Schedule of the components of net periodic benefit cost

 

 

 
  Years Ended
December 31,
 
 
  2012   2011   2010  
 
  (in millions)
 

Service cost—benefits earned

  $ 0.6   $ 5.3   $ 4.6  

Interest costs on benefits obligation

    5.7     6.0     5.7  

Expected return on assets

    (6.9 )   (7.5 )   (6.0 )

Prior service cost amortization

        0.3     0.3  

Net actuarial loss amortization

    0.6     2.7     2.3  

Curtailment charge

        1.5      
               

Net periodic benefit cost

  $   $ 8.3   $ 6.9  
               

        

Schedule of weighted average assumptions used to determine benefit obligations

 

 

 
  December 31,  
 
  2012   2011  

Discount rate

    4.0 %   4.80 %

        

Schedule of weighted-average assumptions used to determine net periodic benefit costs

 

 

 
  Years Ended December 31,  
 
  2012   2011   2010  

Discount rate

    4.80 % 5.50%/4.70%     6.00 %

Long-term rate of return on assets

    6.50 % 7.75%     8.50 %

Rate of compensation increase

    N/A   N/A        4.00 %

        

Schedule of the weighted-average asset allocations by asset category

 

 

 
  December 31,  
Asset Category
  2012   2011  

Equity securities

    9.6 %   13.4 %

Debt securities

    85.3     77.4  

Other

    5.1     9.2  
           

Total

    100.0 %   100.0 %
           

        

Schedule of the investments in the pension plan measured at fair value

 

 

 
  December 31, 2012   December 31, 2011  
 
  Level 1   Level 2   Level 3   Total   Level 1   Level 2   Level 3   Total  
 
  (in millions)
 

Money market funds

  $ 1.2   $ 0.3   $   $ 1.5   $   $ 4.9   $   $ 4.9  

Equity securities

                                                 

U.S. equity securities(a)

    8.3             8.3     8.0             8.0  

Non-U.S. equity securities(a)

    1.4             1.4     2.3             2.3  

Other equity securities(b)

    1.3             1.3     4.1             4.1  

Debt securities

                                                 

U.S. government

    18.8             18.8     19.9             19.9  

U.S. and non-U.S. corporate(c)

        79.0         79.0         63.3         63.3  

Other investments(d)

    4.4     1.1         5.5     4.9     1.0         5.9  
                                   

Total investments

  $ 35.4   $ 80.4   $   $ 115.8   $ 39.2   $ 69.2   $   $ 108.4  
                                   

(a)
Includes investments in common stock from diverse industries

(b)
Includes investments in index and exchange-traded funds

(c)
Includes investment grade bonds from diverse industries

(d)
Includes investments in real estate investment funds, exchange-traded funds, commodity mutual funds and accrued interest
Information related to the company's pension funds cash flow

 

 

 
  December 31,  
 
  2012   2011  
 
  (in millions)
 

Employer Contributions

  $ 0.7   $ 7.8  

Benefit Payments

  $ 4.2   $ 3.2  

        

Schedule of expected benefit payments to be paid by the pension plans

 

 

 
  (in millions)  

During fiscal year ending December 31, 2013

  $ 4.5  

During fiscal year ending December 31, 2014

  $ 4.9  

During fiscal year ending December 31, 2015

  $ 5.3  

During fiscal year ending December 31, 2016

  $ 5.6  

During fiscal year ending December 31, 2017

  $ 6.0  

During fiscal years ending December 31, 2018 through December 31, 2022

  $ 34.9