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Pension and Other Postretirement Benefits (Notes)
 9 Months Ended
Sep. 30, 2014
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits
 

The Company provides noncontributory pension and various healthcare and life insurance benefits to most employees and retirees. The pension plan is not fully funded. The Company has contributed $196.5 to the master pension trust during 2014 and does not expect to make any additional contributions during 2014.

Net periodic benefit cost (income) for pension and other postretirement benefits were as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Pension Benefits
 
 
 
 
 
 
 
Service cost
$
0.5

 
$
0.7

 
$
1.2

 
$
1.9

Interest cost
36.6

 
34.7

 
109.6

 
104.1

Expected return on assets
(50.7
)
 
(46.2
)
 
(152.1
)
 
(138.3
)
Amortization of prior service cost
1.1

 
0.9

 
3.2

 
2.7

Amortization of (gain) loss
1.1

 
6.7

 
1.2

 
20.0

Settlement (gain) loss
0.2

 
(0.8
)
 
0.2

 
(0.8
)
Net periodic benefit cost (income)
$
(11.2
)
 
$
(4.0
)
 
$
(36.7
)
 
$
(10.4
)
 
 
 
 
 
 
 
 
Other Postretirement Benefits
 
 
 
 
 
 
 
Service cost
$
1.1

 
$
1.1

 
$
3.1

 
$
3.5

Interest cost
5.2

 
5.3

 
15.3

 
15.8

Amortization of prior service cost (credit)
(18.3
)
 
(20.0
)
 
(54.9
)
 
(60.0
)
Amortization of (gain) loss
(0.3
)
 
0.7

 
(1.0
)
 
1.8

Net periodic benefit cost (income)
$
(12.3
)
 
$
(12.9
)
 
$
(37.5
)
 
$
(38.9
)


The Company assumed Dearborn’s other postretirement benefits as of the acquisition on September 16, 2014, and recorded an initial liability of $121.8. The discount rate used for this measurement was 4.45%. Net periodic benefit cost (income) for the Dearborn plan is estimated to be $2.4 for the remainder of 2014 after the acquisition date.

During the first and third quarters of 2014, the Company performed remeasurements of an unfunded supplemental retirement plan as a result of lump sum benefit payments made to retired participants.