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PENSION AND POSTRETIREMENT PLANS (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Dec. 31, 2019

Defined Benefit Plan Disclosures [Line Items]

Minimum non-elective contribution (NEC) % for the 401(K) plan (in hundredths)

3.00%

Discretionary Contribution Percentage Maximum

3.00%

Defined Benefit Plan and Postretirement Plan Disclosure

Schedule of Pensions and Postretirement Plans

The effect on operations for the Company Plan and the PEP is summarized as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Service cost for administrative expenses	$	1.3	$	1.0	$	2.6	$	2.0
Interest cost on benefit obligation	2.8		3.5		5.6		7.0
Expected return on plan assets	(3.8)		(3.8)		(7.5)		(7.6)
Net amortization and deferral	2.2		2.6		4.8		5.2
Defined benefit plan costs	$	2.5	$	3.3	$	5.5	$	6.6

Pension And Postretirement Plans

PENSION AND POSTRETIREMENT PLANS

Retirement Plans

All employees eligible for the LCD defined-contribution retirement plan (LCD 401(k) Plan) receive a minimum 3% non-elective contribution (NEC) concurrent with each payroll period. Employees are not required to make a contribution to the LCD 401(k) Plan to receive the NEC. The NEC is non-forfeitable and vests immediately. The LCD 401(k) Plan also permits discretionary contributions by the Company of 1% to 3% of pay for eligible employees based on service. The Company incurred expense of $13.9 and $16.2 for the LCD 401(k) Plan during the three months ended June 30, 2020 and 2019 respectively, and $27.4 and $32.2 during the six months ended June 30, 2020 and 2019, respectively.

All of the CDD U.S. employees are eligible to participate in the CDD 401(k) Plan, which is available on a voluntary basis and features a maximum 4.5% Company match, based upon a percentage of the employee’s contributions. The Company incurred expense of $20.3 and $17.9 for the Covance 401(k) plan during the three months ended June 30, 2020, and 2019, respectively, and $43.8 and $37.8 during the six months ended June 30, 2020 and 2019, respectively.

The Company also maintains several other small 401K plans associated with companies acquired over the last several years.

Pension Plans

The Company has a defined-benefit retirement plan (Company Plan) and a nonqualified supplemental retirement plan (PEP). Both plans have been closed to new participants since December 31, 2009. Employees participating in the Company Plan and PEP no longer earn service-based credits, but continue to earn investment credits.

The Company Plan covers substantially all LCD employees employed prior to December 31, 2009. The benefits to be paid under the Company Plan are based on years of credited service through December 31, 2009, interest credits and average compensation. The Company's policy is to fund the Company Plan with at least the minimum amount required by applicable regulations.

The PEP covers a portion of the Company's senior management group. Prior to 2010, the PEP provided for the payment of the difference, if any, between the amount of any maximum limitation on annual benefit payments under the Employee Retirement Income Security Act of 1974 and the annual benefit that would be payable under the Company Plan but for such limitation. Effective January 1, 2010, employees participating in the PEP no longer earn service-based credits. The PEP is an unfunded plan.

The effect on operations for the Company Plan and the PEP is summarized as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Service cost for administrative expenses	$	1.3	$	1.0	$	2.6	$	2.0
Interest cost on benefit obligation	2.8		3.5		5.6		7.0
Expected return on plan assets	(3.8)		(3.8)		(7.5)		(7.6)
Net amortization and deferral	2.2		2.6		4.8		5.2
Defined benefit plan costs	$	2.5	$	3.3	$	5.5	$	6.6

The service cost component of net periodic pension cost and net periodic post-retirement benefit cost is included in operating expenses with other employee compensation costs. The other components of net benefit cost, including amortization or prior service cost/credit and settlement and curtailment effects are included in other, net non-operating expenses. During the six months ended June 30, 2020, the Company made no contributions to the Company Plan. The related net pension obligation for the Company Plan and PEP was $92.7 and $93.4 as of June 30, 2020 and December 31, 2019, respectively.

As a result of the Covance acquisition, the Company sponsors two defined benefit pension plans for the benefit of its employees at two U.K. subsidiaries (U.K. Plans) and one defined benefit pension plan for the benefit of its employees at a German subsidiary (German Plan), all of which are legacy plans of previously acquired companies. The U.K. Plans were closed to future accrual as of December 31, 2019. Benefit amounts for all three plans are based upon years of service and compensation; however, the U.K. Plans were based on service and compensation through December 31, 2019. The German

Plan is unfunded while the U.K. Plans are funded. The Company’s funding policy has been to contribute annually a fixed percentage of the eligible employee's salary, and additional amounts, at least equal to the local statutory funding requirements.

As a result of the Envigo acquisition, the Company assumed a defined benefit pension plan for the benefit of Envigo's U.K. employees (the Envigo Plan), which is a legacy plan of a company previously acquired by Envigo. The Envigo Plan is a funded plan that is closed to future accrual. The Company’s funding policy has been to contribute amounts at least equal to the local statutory funding requirements.

The related net pension obligation for these plans inclusive of the U.K. Plans, German Plan, and the Envigo Plan, was $86.0 and $99.1 as of June 30, 2020 and December 31, 2019, respectively.

Defined Benefit Plan, Funded (Unfunded) Status of Plan

$ (92.7)

$ (93.4)

Defined Contribution Plan Total Expense

13.9

$ 16.2

27.4

$ 32.2

Pension and Other Postretirement Plans Costs [Member]

Defined Benefit Plan and Postretirement Plan Disclosure

Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation

86.0