Employee Benefit and Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Reconciliation of Benefit Obligations

The following provides a reconciliation of benefit obligations, plan assets and funded status of the Company’s noncontributory defined benefit pension plans, including the SERP, as of December 31, (dollars in millions):

	Pension Benefits												Postretirement Benefits
	U.S.						International
Change in benefit obligation:	2018			2017			2018			2017			2018			2017
Benefit obligation at beginning of year	$	1,553.7		$	1,561.0		$	666.2		$	626.4		$	65.1		$	74.6
Service cost		0.8			2.8			5.3			6.4			0.3			0.1
Interest cost		46.4			49.6			13.0			13.2			1.8			2.2
Actuarial (gain) loss		(147.7	)		81.9			(32.7	)		3.2			(8.9	)		(0.4	)
Amendments		—			—			2.5			0.4			—			(5.0	)
Currency translation		—			—			(31.5	)		69.4						—
Benefits paid		(105.2	)		(100.4	)		(30.0	)		(22.8	)		(4.9	)		(6.4	)
Acquisitions and dispositions, net		—			—			0.8			(13.9	)		—			—
Curtailments, settlements and other		—			(41.2	)		(23.4	)		(16.1	)		(0.4	)		—
Benefit obligation at end of year (1)	$	1,348.0		$	1,553.7		$	570.2		$	666.2		$	53.0		$	65.1

Schedule of Changes in Fair Value of Plan Assets

Change in plan assets:
Fair value of plan assets at beginning of year	$	1,271.1		$	1,230.6		$	602.1		$	547.6		$	—		$	—
Actual return (loss) on plan assets		(71.2	)		171.4			(11.0	)		24.2			—			—
Contributions		10.2			10.7			14.0			15.2			—			—
Currency translation		—			—			(29.2	)		58.5			—			—
Benefits paid		(105.2	)		(100.4	)		(30.7	)		(22.1	)		—			—
Acquisitions and dispositions, net		—			—			0.8			(5.5	)		—			—
Settlements and other		—			(41.2	)		(22.4	)		(15.8	)		—			—
Fair value of plan assets at end of year	$	1,104.9		$	1,271.1		$	523.6		$	602.1		$	—		$	—
Funded status at end of year	$	(243.1	)	$	(282.6	)	$	(46.6	)	$	(64.1	)	$	(53.0	)	$	(65.1	)
Amounts recognized in the Consolidated Balance Sheets:
Prepaid benefit cost, included in other assets	$	—		$	—		$	71.5		$	63.5		$			$	—
Accrued current benefit cost—other accrued liabilities		(9.9	)		(10.3	)		(4.7	)		(5.0	)		(5.3	)		(5.8	)
Accrued noncurrent benefit cost— other noncurrent liabilities		(233.2	)		(272.3	)		(113.4	)		(122.6	)		(47.7	)		(59.3	)
Net amount recognized	$	(243.1	)	$	(282.6	)	$	(46.6	)	$	(64.1	)	$	(53.0	)	$	(65.1	)

Schedule of Expected Benefit Payments

Estimated future benefit payments under the Company’s defined benefit pension plans and postretirement benefit plans are as follows as of December 31, 2018 (in millions):

	2019		2020		2021		2022		2023		Thereafter
Pension benefits	$	121.2	$	121.4	$	121.3	$	120.8	$	120.6	$	579.4
Postretirement benefits	$	5.3	$	5.3	$	5.2	$	5.1	$	5.0	$	20.6

Pension Benefits [Member]

Schedule of Assumptions Used

Assumptions:
Weighted-average assumptions used to determine benefit obligation:
Discount rate	4.12	%	3.48	%	2.53	%	2.25	%	3.97	%	3.32	%
Long-term rate of compensation increase	3.00	%	2.50	%	2.43	%	3.53	%	—		—
Current health care cost trend rates	—		—		—		—		6.99	%	6.70	%
Ultimate health care cost trend rates	—		—		—		—		4.50	%	4.50	%

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

Summary of under-funded or non-funded pension benefit plans with projected benefit obligations in excess of plan assets at December 31, (in millions):

	Pension Benefits
	2018		2017
Projected benefit obligation	$	1,653.6	$	1,895.6
Fair value of plan assets		1,292.6		1,485.2

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Summary of pension plans with accumulated obligations in excess of plan assets at December 31, (in millions):

	Pension Benefits
	2018		2017
Accumulated benefit obligation	$	1,648.9	$	1,887.1
Fair value of plan assets		1,292.6		1,485.2

Schedule Of Company's Pension Cost And Supplemental Retirement Plans

The components of pension and postretirement benefit expense for the periods indicated are as follows (dollars in millions):

	Pension Benefits
	U.S.									International
	2018			2017			2016			2018			2017			2016
Service cost	$	0.8		$	2.8		$	2.7		$	5.3		$	6.4		$	6.0
Interest cost		46.4			49.6			44.4			13.0			13.2			17.2
Expected return on plan assets		(67.5	)		(73.3	)		(69.1	)		(14.7	)		(18.2	)		(20.3	)
Amortization:
Prior service cost (credit)		(0.1	)		(0.1	)		(0.1	)		0.4			0.4			0.5
Net actuarial loss		21.4			23.7			21.8			2.0			2.0			2.4
Curtailment, settlement and termination (benefit) costs		—			(3.7	)		—			1.3			1.3			2.9
Total expense (income)	$	1.0		$	(1.0	)	$	(0.3	)	$	7.3		$	5.1		$	8.7

Schedule of Assumptions Used, Periodic Benefit Cost

Assumptions
Weighted average assumption used to calculate net periodic cost:
Effective discount rate for benefit obligations	3.48	%	3.99	%	4.07	%	2.25	%	2.12	%	3.30	%
Effective rate for interest on benefit obligations	3.09	%	3.28	%	3.22	%	1.96	%	1.72	%	2.94	%
Effective rate for service cost	3.32	%	3.83	%	4.16	%	2.34	%	2.46	%	3.41	%
Effective rate for interest on service cost	2.98	%	3.38	%	3.67	%	2.29	%	2.41	%	3.38	%
Long-term rate of return on plan assets	5.75	%	6.04	%	6.34	%	2.58	%	3.21	%	3.94	%
Long-term rate of compensation increase	2.54	%	2.50	%	2.50	%	3.53	%	3.59	%	3.55	%

Schedule of Allocation of Plan Assets

The composition of domestic pension plan assets at December 31, 2018 and 2017 is as follows (in millions):

	Plan Assets — Domestic Plans
	December 31, 2018
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total
Equity securities and funds:
Global equities	$	—	$	—	$	—	$	—	$	179.8	$	179.8
Fixed income securities and funds		413.3		—		—		413.3		269.3		682.6
Alternative investments		40.7		—		—		40.7		177.1		217.8
Cash and other		8.9		14.8		1.0		24.7		—		24.7
Total	$	462.9	$	14.8	$	1.0	$	478.7	$	626.2	$	1,104.9
	Plan Assets — Domestic Plans
	December 31, 2017
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total
Equity securities and funds:
Global equities	$	205.3	$	—	$	—	$	205.3	$	89.0	$	294.3
Fixed income securities and funds		395.4		—		—		395.4		207.5		602.9
Alternative investments		23.8		—		—		23.8		149.9		173.7
Cash and other		183.9		15.2		1.1		200.2		—		200.2
Total	$	808.4	$	15.2	$	1.1	$	824.7	$	446.4	$	1,271.1

The composition of international pension plan assets at December 31, 2018 and 2017 is as follows (in millions):

	Plan Assets – International Plans
	December 31, 2018
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total
Equity securities and funds	$	14.3	$	—	$	—	$	14.3	$	9.1	$	23.4
Fixed income securities and funds		266.7		—		—		266.7		6.6		273.3
Cash and other		6.2		204.9		1.5		212.6		14.3		226.9
Total	$	287.2	$	204.9	$	1.5	$	493.6	$	30.0	$	523.6
	Plan Assets – International Plans
	December 31, 2017
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total
Equity securities and funds	$	38.8	$	—	$	—	$	38.8	$	14.1	$	52.9
Fixed income securities and funds		258.8		—		—		258.8		14.4		273.2
Cash and other		5.1		233.7		5.4		244.2		31.8		276.0
Total	$	302.7	$	233.7	$	5.4	$	541.8	$	60.3	$	602.1

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

A reconciliation of the change in the fair value measurement of the defined benefit plans’ consolidated assets using significant unobservable inputs (Level 3) for 2018 and 2017 is as follows (in millions):

	Total
Balance, December 31, 2016	$	12.9
Realized gains		—
Unrealized losses		(0.4	)
Purchases, sales, settlements, and other, net		(6.0	)
Balance, December 31, 2017	$	6.5
Realized gains		0.1
Unrealized gains		—
Purchases, sales, settlements and other, net		(4.1	)
Balance, December 31, 2018	$	2.5

Postretirement Benefits [Member]

Schedule of Assumptions Used

Assumptions
Weighted average assumption used to calculate net periodic cost:
Effective discount rate for benefit obligations	3.09	%	3.76	%	3.97	%
Effective rate for interest on benefit obligations	2.71	%	3.07	%	3.10	%
Effective rate for service cost	2.98	%	3.25	%	3.46	%
Effective rate for interest on service cost	2.78	%	3.02	%	3.19	%

Schedule Of Company's Pension Cost And Supplemental Retirement Plans

	Postretirement Benefits
	2018			2017			2016
Service cost	$	0.3		$	0.1		$	0.1
Interest cost		1.8			2.2			2.2
Amortization:
Prior service credit		(6.6	)		(5.2	)		(5.2	)
Net actuarial gain		(3.6	)		(3.9	)		(5.2	)
Total income	$	(8.1	)	$	(6.8	)	$	(8.1	)