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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2012
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans
The following tables set forth reconciliations of the changes in benefit obligation, plan assets and funded status as of December 31, 2012 and 2011 (in millions):
 
 
Pension Benefits
 
Postretirement
Benefits
Change in benefit obligation
 
2012
 
2011
 
2012
 
2011
Benefit obligation at beginning of year
 
$
765.9

 
$
713.4

 
$
31.8

 
$
28.8

Service cost
 
14.4

 
14.4

 
0.1

 
0.1

Interest cost
 
38.2

 
40.1

 
1.5

 
1.6

Plan participants’ contributions
 
1.2

 
1.8

 
—

 
—

Actuarial loss
 
36.1

 
41.6

 
1.8

 
3.0

Acquisitions
 
—

 
8.9

 
—

 
—

Amendments
 
—

 
0.7

 
3.9

 
—

Settlements
 
(0.4
)
 
(0.6
)
 
—

 
—

Benefits paid
 
(44.6
)
 
(46.7
)
 
(1.8
)
 
(1.6
)
Special termination benefits and other
 
—

 
0.2

 
0.1

 
0.1

Foreign currency exchange rate changes
 
31.5

 
(7.9
)
 
(0.4
)
 
(0.2
)
Benefit obligation at end of year
 
$
842.3

 
$
765.9

 
$
37.0

 
$
31.8

 
 
 
 
 
Postretirement
Benefits
 
 
Pension Benefits
 
Change in plan assets
 
2012
 
2011
 
2012
 
2011
Fair value of plan assets at beginning of year
 
$
520.8

 
$
529.1

 
$
—

 
$
—

Actual return on plan assets
 
40.6

 
7.7

 
—

 
—

Employer contributions
 
36.1

 
32.4

 
1.7

 
1.5

Plan participants’ contributions
 
1.2

 
1.8

 
—

 
—

Benefits paid
 
(44.6
)
 
(46.7
)
 
(1.8
)
 
(1.6
)
Settlements
 
(0.4
)
 
(0.6
)
 
—

 
—

Other
 
—

 
—

 
0.1

 
0.1

Foreign currency exchange rate changes
 
23.0

 
(2.9
)
 
—

 
—

Fair value of plan assets at end of year
 
$
576.7

 
$
520.8

 
$
—

 
$
—

Funded status
 
$
(265.6
)
 
$
(245.1
)
 
$
(37.0
)
 
$
(31.8
)
Unrecognized net actuarial loss
 
321.5

 
299.3

 
10.8

 
9.4

Unrecognized prior service (credit) cost
 
(0.2
)
 
(0.3
)
 
4.2

 
0.1

Accumulated other comprehensive loss
 
(321.3
)
 
(299.0
)
 
(15.0
)
 
(9.5
)
Net amount recognized
 
$
(265.6
)
 
$
(245.1
)
 
$
(37.0
)
 
$
(31.8
)

Amounts recognized in Consolidated Balance Sheets:
 

 
 

 
 

 
 

Other long-term asset
$
0.1

 
$
0.2

 
$
—

 
$
—

Other current liabilities
(2.5
)
 
(2.5
)
 
(1.7
)
 
(1.9
)
Accrued expenses
(5.2
)
 
(4.1
)
 
—

 
—

Pensions and postretirement health care benefits (noncurrent)
(258.0
)
 
(238.7
)
 
(35.3
)
 
(29.9
)
Net amount recognized
$
(265.6
)
 
$
(245.1
)
 
$
(37.0
)
 
$
(31.8
)
Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
Changing the assumed health care cost trend rates by one percentage point each year and holding all other assumptions constant would have the following effect to service and interest cost for 2013 and the accumulated postretirement benefit obligation at December 31, 2012 (in millions):
 
One Percentage
Point Increase
 
One Percentage
Point Decrease
Effect on service and interest cost

$0.3

 

($0.2
)
Effect on accumulated benefit obligation

$5.5

 

($4.4
)
Pension Benefits [Member]
  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Net Pension And Postretirement Cost
Net annual pension costs for the years ended December 31, 2012, 2011 and 2010 are set forth below (in millions):
Pension benefits
 
2012
 
2011
 
2010
Service cost
 
$
14.4

 
$
14.4

 
$
15.2

Interest cost
 
38.2

 
40.1

 
38.4

Expected return on plan assets
 
(36.3
)
 
(37.1
)
 
(32.8
)
Amortization of net actuarial loss
 
9.5

 
6.4

 
8.6

Amortization of prior service (credit) cost
 
(0.1
)
 
(0.2
)
 
2.2

Settlement loss
 
0.2

 
0.1

 
—

Special termination benefits and other
 
—

 
0.2

 
0.1

Net annual pension cost
 
$
25.9

 
$
23.9

 
$
31.7
Assumptions Used
The weighted average assumptions used to determine the net annual pension costs for the Company’s pension plans for the years ended December 31, 2012, 2011 and 2010 are as follows:
 
2012
 
2011
 
2010
All plans:
 

 
 

 
 

Weighted average discount rate
5.1
%
 
5.6
%
 
5.7
%
Weighted average expected long-term rate of return on plan assets
7.0
%
 
7.0
%
 
7.0
%
Rate of increase in future compensation
2.5-4.5%

 
2.5-4.5%

 
2.5-4.5%

U.S.-based plans:
 

 
 

 
 

Weighted average discount rate
4.6
%
 
5.4
%
 
5.5
%
Weighted average expected long-term rate of return on plan assets
7.75
%
 
8.0
%
 
8.0
%
Rate of increase in future compensation
N/A

 
N/A

 
N/A

The weighted average assumptions used to determine the benefit obligation for the Company’s pension plans as of December 31, 2012 and 2011 are as follows:
 
2012
 
2011
All plans:
 

 
 

Weighted average discount rate
4.3
%
 
5.1
%
Rate of increase in future compensation
2.5-4.0%

 
2.5-4.5%

U.S.-based plans:
 

 
 

Weighted average discount rate
3.9
%
 
4.6
%
Rate of increase in future compensation
N/A

 
N/A
Allocation of Plan Assets
The fair value of the Company’s pension assets as of December 31, 2011 is as follows (in millions):
 
Total
 
Level 1
 
Level 2
 
Level 3
Equity securities:
 

 
 

 
 

 
 

Global equities
$
128.1

 
$
128.1

 
$
—

 
$
—

Non-U.S. equities
4.5

 
4.5

 
—

 
—

U.K. equities
57.5

 
57.5

 
—

 
—

U.S. large cap equities
5.1

 
5.1

 
—

 
—

U.S. small cap equities
4.1

 
4.1

 
—

 
—

Total equity securities
199.3

 
199.3

 
—

 
—

Fixed income:
 

 
 

 
 

 
 

Aggregate fixed income
9.5

 
9.5

 
—

 
—

International fixed income
166.1

 
166.1

 
—

 
—

Total fixed income share(1)
175.6

 
175.6

 
—

 
—

Cash and equivalents:
 

 
 

 
 

 
 

Cash
5.0

 
—

 
5.0

 
—

Total cash and equivalents
5.0

 
—

 
5.0

 
—

Alternative investments(2)
119.8

 
—

 
—

 
119.8

Miscellaneous funds(3)
21.1

 
—

 
—

 
21.1

Total assets
$
520.8

 
$
374.9

 
$
5.0

 
$
140.9

_______________________________________
(1)
75% of “fixed income” securities are in investment-grade corporate bonds; 21% are in government treasuries; and 4% are in other various fixed income securities.
(2)
23% of “alternative investments” are in multi-strategy funds; 17% are in long-short equity funds; 15% are in event-driven funds; 15% are in relative value funds; 13% are in credit funds; and 17% are distributed in hedged and non-hedged funds.
(3)
“Miscellaneous funds” is comprised of pooled funds in Australia and various contracts in Finland, Norway and Switzerland
The fair value of the Company’s pension assets as of December 31, 2012 is as follows (in millions):
 
Total
 
Level 1
 
Level 2
 
Level 3
Equity securities:
 

 
 

 
 

 
 

Global equities
$
103.7

 
$
103.7

 
$
—

 
$
—

Non-U.S. equities
5.2

 
5.2

 
—

 
—

U.K. equities
112.2

 
112.2

 
—

 
—

U.S. large cap equities
11.1

 
11.1

 
—

 
—

U.S. small cap equities
5.4

 
5.4

 
—

 
—

Total equity securities
237.6

 
237.6

 
—

 
—

Fixed income:
 

 
 

 
 

 
 

Aggregate fixed income
7.6

 
7.6

 
—

 
—

International fixed income
176.7

 
176.7

 
—

 
—

Total fixed income share(1)
184.3

 
184.3

 
—

 
—

Cash and equivalents:
 

 
 

 
 

 
 

Cash
2.2

 
—

 
2.2

 
—

Total cash and equivalents
2.2

 
—

 
2.2

 
—

Alternative investments(2)
127.1

 
—

 
—

 
127.1

Miscellaneous funds(3)
25.5

 
—

 
—

 
25.5

Total assets
$
576.7

 
$
421.9

 
$
2.2

 
$
152.6

______________________________________
(1)
39% of “fixed income” securities are in investment-grade corporate bonds; 27% are in government treasuries; and 34% are in other various fixed income securities.
(2)
24% of “alternative investments” are in long-short equity funds; 19% are in multi-strategy funds; 17% are in event-driven funds; 12% are in relative value funds; 12% are in credit funds; and 16% are distributed in hedged and non-hedged funds.
(3)
“Miscellaneous funds” is comprised of pooled funds in Australia and insurance contracts in Finland, Norway and Switzerland.
Reconciliation of Significant Unobservable Inputs, Changes in Plan Assets
The following is a reconciliation of Level 3 assets as of December 31, 2011 (in millions):
 
Total
 
Alternative
Investments
 
Miscellaneous
Funds
Beginning balance as of December 31, 2010
$
145.1

 
$
126.2

 
$
18.9

Actual return on plan assets:
 

 
 

 
 

(a) Relating to assets still held at reporting date
(2.4
)
 
(4.0
)
 
1.6

(b) Relating to assets sold during period
(0.3
)
 
(0.3
)
 
—

Purchases, sales and /or settlements
15.2

 
13.9

 
1.3

Transfers in and /or out of Level 3
(15.6
)
 
(15.6
)
 
—

Foreign currency exchange rate changes
(1.1
)
 
(0.4
)
 
(0.7
)
Ending balance as of December 31, 2011
$
140.9

 
$
119.8

 
$
21.1


The following is a reconciliation of Level 3 assets as of December 31, 2012 (in millions):
 
Total
 
Alternative
Investments
 
Miscellaneous
Funds
Beginning balance as of December 31, 2011
$
140.9

 
$
119.8

 
$
21.1

Actual return on plan assets:
 

 
 

 
 

(a) Relating to assets still held at reporting date
4.3

 
4.1

 
0.2

(b) Relating to assets sold during period
0.5

 
0.5

 
—

Purchases, sales and /or settlements
1.2

 
(2.3
)
 
3.5

Transfers in and /or out of Level 3
(0.2
)
 
(0.2
)
 
—

Foreign currency exchange rate changes
5.9

 
5.2

 
0.7

Ending balance as of December 31, 2012
$
152.6

 
$
127.1

 
$
25.5
Expected Benefit Payments
At December 31, 2012, the aggregate expected benefit payments for all of the Company’s pension plans are as follows (in millions):
2013
$
51.0

2014
48.1

2015
48.2

2016
46.9

2017
47.1

2018 through 2022
256.6

 
$
497.9
U.S. Based Pension Benefit Plans [Member]
  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Allocation of Plan Assets
The weighted average asset allocation of the Company’s U.S. pension benefit plans as of December 31, 2012 and 2011 are as follows:
Asset Category
 
2012
 
2011
Large and small cap domestic equity securities
 
45
%
 
37
%
International equity securities
 
14
%
 
13
%
Domestic fixed income securities
 
21
%
 
21
%
Other investments
 
20
%
 
29
%
Total
 
100
%
 
100
%
Non-U.S. Pension Benefit Plans [Member]
  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Allocation of Plan Assets
The weighted average asset allocation of the Company’s non-U.S. pension benefit plans as of December 31, 2012 and 2011 are as follows:
Asset Category
 
2012
 
2011
Equity securities
 
42
%
 
40
%
Fixed income securities
 
34
%
 
36
%
Other investments
 
24
%
 
24
%
Total
 
100
%
 
100
%
Postretirement Benefits [Member]
  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Net Pension And Postretirement Cost
Net annual postretirement benefit costs for the years ended December 31, 2012, 2011 and 2010 are set forth below (in millions, except percentages):
Postretirement benefits
 
2012
 
2011
 
2010
Service cost
 
$
0.1

 
$
0.1

 
$
0.1

Interest cost
 
1.5

 
1.6

 
1.5

Amortization of prior service credit
 
(0.2
)
 
(0.3
)
 
(0.3
)
Amortization of net actuarial loss
 
0.4

 
0.3

 
0.2

Net annual postretirement benefit cost
 
$
1.8

 
$
1.7

 
$
1.5

Weighted average discount rate
 
4.8
%
 
5.6
%
 
5.65
%
Expected Benefit Payments
At December 31, 2012, the aggregate expected benefit payments for the Company’s U.S. and Brazilian postretirement benefit plans are as follows (in millions):
2013
$
1.8

2014
1.9

2015
1.9

2016
2.0

2017
2.0

2018 through 2022
10.4

 
$
20.0
ENPP [Member]
  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Net Pension And Postretirement Cost
Net annual ENPP cost and the measurement assumptions for the plans for the years ended December 31, 2012, 2011 and 2010 are set forth below (in millions, except percentages):
 
2012
 
2011
 
2010
Service cost
$
2.8

 
$
1.8

 
$
1.4

Interest cost
1.4

 
1.0

 
0.9

Amortization of prior service cost
0.9

 
0.6

 
0.5

Amortization of net actuarial loss
0.3

 
0.1

 
—

Net annual ENPP costs
$
5.4

 
$
3.5

 
$
2.8

Discount rate
4.6
%
 
5.4
%
 
5.50
%
Rate of increase in future compensation
5.0
%
 
5.0
%
 
5.0
%
Expected Benefit Payments
During 2012, approximately $0.9 million of benefit payments were made related to the ENPP. At December 31, 2012, the aggregate expected benefit payments for the ENPP are as follows (in millions):
2013
$
1.3

2014
1.3

2015
0.9

2016
1.1

2017
2.7

2018 through 2022
14.8

 
$
22.1
Schedule of Changes in Projected Benefit Obligations
The following tables set forth reconciliations of the changes in benefit obligation and funded status as of December 31, 2012 and 2011 (in millions):
Change in benefit obligation
 
2012
 
2011
Benefit obligation at beginning of year
 
$
31.0

 
$
20.5

Service cost
 
2.8

 
1.8

Interest cost
 
1.4

 
1.0

Actuarial loss
 
5.3

 
4.0

Amendments
 
—

 
4.5

Benefits paid
 
(0.9
)
 
(0.8
)
Benefit obligation at end of year
 
$
39.6

 
$
31.0

Funded status
 
$
(39.6
)
 
$
(31.0
)
Unrecognized net actuarial loss
 
11.9

 
6.9

Unrecognized prior service cost
 
5.6

 
6.5

Accumulated other comprehensive loss
 
(17.5
)
 
(13.4
)
Net amount recognized
 
$
(39.6
)
 
$
(31.0
)
Amounts recognized in Consolidated Balance Sheets:
 
 

 
 

Other current liabilities
 
$
(1.3
)
 
$
(1.0
)
Pensions and postretirement health care benefits (noncurrent)
 
(38.3
)
 
(30.0
)
Net amount recognized
 
$
(39.6
)
 
$
(31.0
)