EMPLOYEE RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2014

Reconciliation of the beginning and ending balances of the projected benefit obligation for defined benefit plans

	Pension Benefits						OPEB
	As of December 31,
(In millions)	2014			2013			2014			2013
Change in Benefit Obligation
Benefit obligation, beginning of year	$	673.4		$	168.5		$	97.9		$	-
Acquisitions		-			576.1			-			182.9
Service costs		3.6			6.6			0.8			2.0
Interest cost		31.7			28.0			4.4			6.4
Actuarial loss (gain)		141.3			(57.0	)		16.7			(4.2	)
Foreign currency translation adjustment		(1.5	)		(0.8	)		(0.3	)		(0.1	)
Plan participants' contributions		-			-			1.4			3.4
Gross benefits paid		(38.2	)		(32.5	)		(9.2	)		(9.8	)
Plan amendments		-			-			-			(82.7	)
Curtailments		-			(15.5	)		-			-
Settlements		(24.0	)		-			-			-
Other		0.5			-			-			-
Benefit obligation, end of year	$	786.8		$	673.4		$	111.7		$	97.9
Accumulated benefit obligation, end of year	$	784.0		$	670.7			NA			NA

Summary and reconciliation of the beginning and ending balances of the fair value of the plans' assets

	Pension Benefits						OPEB
	As of December 31,
(In millions)	2014			2013			2014			2013
Change in Plan Assets
Fair value of plan assets, beginning of year	$	659.4		$	115.8		$	-		$	-
Acquisitions		-			506.7			-			-
Actual return on plan assets		40.1			68.2			-			-
Foreign currency translation adjustment		(1.1	)		(0.7	)		-			-
Employer contribution		2.0			1.9			7.8			6.4
Plan participants' contributions		-			-			1.4			3.4
Gross benefits paid		(38.2	)		(32.5	)		(9.2	)		(9.8	)
Settlements		(24.0	)		-			-			-
Fair value of plan assets, end of year	$	638.2		$	659.4		$	-		$	-

Summary of the Plan's investments measured at fair value and the target and current allocation, by level within the fair value hierarchy

Asset Category	Target Allocation 2015			Percentage of Plan Assets, December 31, 2014			Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(In millions, except percentages)
Short-term investment fund		-	%		2	%	$	10.2	$	-	$	10.2	$	-
U.S. equity securities:
Consumer discretionary sector								4.3		4.3		-		-
Consumer staples sector								6.1		6.1		-		-
Energy sector								1.3		1.3		-		-
Finance sector								2.3		2.3		-		-
Health care sector								9.9		9.9		-		-
Index funds								141.3		-		141.3		-
Industrials sector								3.5		3.5		-		-
Information technology sector								3.7		3.7		-		-
Capital appreciation mutual fund								39.4		39.4		-		-
Small cap growth mutual fund								7.2		7.2		-		-
Pooled equity fund								55.5		-		55.5		-
Other								1.3		1.3		-		-
Total U.S. equity securities		41	%		43	%		275.8		79.0		196.8		-
U.S. fixed income securities:
Western assets total return funds								85.5		-		85.5		-
Blackrock investments, institutional								70.8		-		70.8		-
Other fixed income securities								71.4		-		71.4		-
Total fixed income securities		38	%		36	%		227.7		-		227.7		-
International securities:
Equity securities					13	%		81.5		8.0		68.5		5.0
Euro pacific growth fund					6	%		35.4		35.4		-		-
Fixed income securities								6.2		2.0		-		4.2
Total international securities		18	%		19	%		123.1		45.4		68.5		9.2
Long-biased hedge fund		3	%		-	%		0.2		-		-		0.2
Real estate partnership		-	%		-	%		1.2		-		-		1.2
Total							$	638.2	$	124.4	$	503.2	$	10.6

Asset Category	Target Allocation 2014			Percentage of Plan Assets, December 31, 2013			Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(In millions, except percentages)
Short-term investment fund		-	%		1	%	$	5.7	$	-	$	5.7	$	-
Receivables		-	%		13	%		86.7		-		-		86.7
U.S. equity securities:
Consumer discretionary sector								6.6		6.6		-		-
Consumer staples sector								9.2		9.2		-		-
Energy sector								1.3		1.3		-		-
Finance sector								3.8		3.8		-		-
Health care sector								8.4		8.4		-		-
Index funds								93.6		-		93.6		-
Industrials sector								2.8		2.8		-		-
Information technology sector								7.3		7.3		-		-
Capital appreciation mutual fund								13.1		13.1		-		-
Small cap growth mutual fund								7.4		7.4		-		-
Pooled equity fund								47.8		-		47.8		-
Other								1.4		1.4		-		-
Total U.S. equity securities		43	%		31	%		202.7		61.3		141.4		-
U.S. fixed income securities:
Pimco total return, institutional								199.4		199.4		-		-
Other fixed income securities								65.2		2.8		62.4		-
Total U.S. fixed income securities		20	%		40	%		264.6		202.2		62.4		-
International equity securities:
Euro pacific growth fund								29.1		29.1		-		-
Emerging market index funds		5	%		10	%		62.8		5.1		57.7		-
Total international equity securities		20	%		14	%		91.9		34.2		57.7		-
Long-biased hedge fund		10	%		1	%		6.7		-		-		6.7
Real estate partnership		2	%		-	%		1.1		-		-		1.1
Total							$	659.4	$	297.7	$	267.2	$	94.5

Roll-forward of the Level 3 investments of pension plan assets

(In millions)	Receivables			Long-Biased Hedge Fund			Real Estate Partnership		Equity Securities		Fixed Income Securities
Beginning balance at December 31, 2013	$	86.7		$	6.7		$	1.1	$	-	$	-
Collection of receivables		(86.2	)		-			-		-		-
Purchases or transfers to Level 3		-			0.4			-		5.0		4.2
Foreign currency translation		-			-			-		-		-
Unrealized gain on plan assets		-			-			0.1		-		-
Realized loss on plan assets		(0.5	)		-			-		-		-
Sale of assets or transfers from Level 3		-			(6.9	)		-		-		-
Ending balance at December 31, 2014	$	-		$	0.2		$	1.2	$	5.0	$	4.2

Funded status of the pension and other OPEB benefits reconciled to the amounts reported on the balance sheets

	Pension Benefits						OPEB
	As of December 31,
(In millions)	2014			2013			2014			2013
Funded status, end of year:
Fair value of plan assets	$	638.2		$	659.4		$	-		$	-
Benefit obligations		786.8			673.4			111.7			97.9
Unfunded status	$	(148.6	)	$	(14.0	)	$	(111.7	)	$	(97.9	)
Amounts recognized in the balance sheets consist of:
Noncurrent asset	$	-		$	26.9		$	-		$	-
Current liability		(1.5	)		(1.3	)		(8.7	)		(7.7	)
Noncurrent liability		(147.1	)		(39.6	)		(103.0	)		(90.2	)
Amount recognized, end of year	$	(148.6	)	$	(14.0	)	$	(111.7	)	$	(97.9	)
Gross amounts recognized in accumulated other comprehensive income (loss) consist of:
Net actuarial gain (loss)	$	(131.5	)	$	11.4		$	(12.3	)	$	4.2
Prior service credit (cost)		(0.1	)		(0.1	)		71.2			80.4
Amount recognized, end of year	$	(131.6	)	$	11.3		$	58.9		$	84.6

Schedule of projected benefit obligation and fair value of plan assets for pension plans having projected benefit obligations in excess of the fair value of plan assets

	Pensions As of December 31,
(In millions)	2014		2013
Projected benefit obligation, end of year	$	786.8	$	430.5
Fair value of plan assets, end of year		638.2		389.6

Schedule of accumulated benefit obligation and fair value of plan assets for pension plans having accumulated benefit obligations in excess of the fair value of plan assets

	Pensions As of December 31,
(In millions)	2014		2013
Accumulated benefit obligaiton , end of year	$	784.0	$	417.6
Fair value of plan assets, end of year		638.2		378.9

Summary of changes in plan assets and benefit obligations which were recognized in other comprehensive income (loss)

	Pensions									OPEB (1)
	As of December 31,
End of year:	2014			2013			2012			2014			2013
Current year actuarial gain (loss)	$	(142.5	)	$	102.2		$	(15.0	)	$	(16.6	)	$	4.2
Amortization of actuarial loss (gain)		(0.4	)		(13.3	)		1.6			0.1			-
Current year prior service credit		-			-			-			-			82.6
Amortization of prior service credit		-			-			-			(9.2	)		(2.3	)
Total recognized in other comprehensive income (loss)	$	(142.9	)	$	88.9		$	(13.4	)	$	(25.7	)	$	84.5
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(137.1	)	$	106.2		$	(13.6	)	$	(21.8	)	$	78.5

(1) OPEB plans were assumed in the Merger which closed on January 28, 2013.

Schedule of estimated amount that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in the next fiscal year

(In millions)	Pensions			OPEB
Prior service credit	$	-		$	9.2
Actuarial loss		(2.6	)		(0.1	)
Total	$	(2.6	)	$	9.1

Schedule of components of net periodic benefit income (expense)

	Pensions Year Ended December 31,									OPEB Benefits Year Ended December 31,
(In millions)	2014			2013			2012			2014			2013
Components of net periodic benefit income (expense):
Interest cost	$	(31.7	)	$	(28.0	)	$	(7.2	)	$	(4.4	)	$	(6.4	)
Service cost		(3.6	)		(6.6	)		-			(0.8	)		(2.0	)
Expected return on assets		47.0			38.5			8.7			-			-
Amortization of:
Prior service credit		-			-			-			9.2			2.3
Actuarial gain (loss)		0.4			(2.1	)		(1.7	)		(0.1	)		-
Total amotization		0.4			(2.1	)		(1.7	)		9.1			2.3
Settlement loss		(5.8	)		-			-			-			-
Curtailment gain		-			15.5			-			-			-
Other components of net periodic pension cost		(0.5	)		-			-			-			-
Total net periodic benefit income (expense)	$	5.8		$	17.3		$	(0.2	)	$	3.9		$	(6.1	)

Schedule of expected benefit payments for all pension plans and postretirement welfare plans

(In millions)	Pension Benefits		OPEB (Gross)
Expected benefit payments:
2015	$	38.1	$	8.9
2016		39.3		8.3
2017		40.2		7.9
2018		41.5		7.7
2019		42.7		7.4
2020-2024		232.6		33.8

Defined Benefit Obligations

Schedule of weighted average assumptions used to determine the benefit obligation

	Pension Benefits		OPEB
	2014	2013	2014	2013
Discount rate	3.98%	4.81%	3.90%	4.65%
Rate of compensation increase	3.01%	3.00%	NA	3.00%
Health care cost trend rate
—Initial rate	NA	NA	7.00%	7.49%
—Ultimate rate	NA	NA	4.50%	4.50%
—Years to ultimate	NA	NA	9	10

Net Periodic Costs

Schedule of weighted average assumptions used to determine the benefit obligation

	Pensions			OPEB
	2014	2013	2012	2014	2013
Discount rate	4.81%	4.16%	5.00%	4.65%	4.39%
Expected return on assets	7.42%	6.91%	8.25%	NA	NA
Rate of compensation increase	3.00%	3.14%	NA	NA	3.11%
Health care cost trend rate:
Initial rate	NA	NA	NA	7.49%	6.63%
Ultimate rate	NA	NA	NA	4.50%	4.50%
Years to ultimate rate	NA	NA	NA	10	11