XML 28 R17.htm IDEA: XBRL DOCUMENT v3.7.0.1
Post Retirement Plans
 3 Months Ended
Apr. 01, 2017
Pension and Other Postretirement Benefit Expense [Abstract]  
Post Retirement Plans
POST RETIREMENT PLANS
The Company’s net periodic benefit cost was comprised of the following components (in millions):
 
 
Three Months Ended
 
 
April 1,
2017
 
April 2,
2016
 
Service Cost
$
1.8

 
$
2.1

 
Interest Cost
2.4

 
2.4

 
Expected Return on Plan Assets
(2.8
)
 
(3.0
)
 
Amortization of Prior Service Cost and Net Actuarial Loss
0.6

 
0.9

 
Net Periodic Benefit Cost
$
2.0

 
$
2.4

 


The estimated net actuarial loss and prior service cost for post retirement plans that will be amortized from AOCI into net periodic benefit cost during the 2017 fiscal year is $2.2 million and $0.2 million, respectively.
For the three months ended April 1, 2017 and April 2, 2016, the Company contributed $0.8 million and $1.1 million to post retirement plans, respectively. The Company expects to make total contributions of $4.4 million in 2017. The Company contributed a total of $10.4 million in fiscal 2016. The assumptions used in the valuation of the Company’s post retirement plans and in the target investment allocation have remained the same as those disclosed in the Company’s 2016 Annual Report on Form 10-K filed on March 1, 2017.