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Net Periodic Benefit Cost - Defined Benefit Plans
 6 Months Ended
Jul. 02, 2016
Net Periodic Benefit Cost - Defined Benefit Plans
Net Periodic Benefit Cost — Defined Benefit Plans
Following are the components of net periodic pension (benefit) expense for the three and six months ended July 2, 2016 and July 4, 2015:
 
Second Quarter
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
All Plans
(Millions of Dollars)
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Service cost
$
2.4

 
$
1.9

 
$
3.2

 
$
3.6

 
$
0.1

 
$
0.2

Interest cost
11.4

 
13.6

 
9.8

 
12.0

 
0.4

 
0.5

Expected return on plan assets
(17.0
)
 
(18.7
)
 
(11.8
)
 
(14.2
)
 
—

 
—

Amortization of prior service cost (credit)
1.3

 
0.2

 
—

 
0.1

 
(0.3
)
 
(0.3
)
Amortization of net loss
1.8

 
2.2

 
1.6

 
2.1

 
—

 
—

Net periodic pension (benefit) expense
$
(0.1
)
 
$
(0.8
)
 
$
2.8

 
$
3.6

 
$
0.2

 
$
0.4


 
Year-to-Date
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
All Plans
(Millions of Dollars)
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Service cost
$
4.7

 
$
3.5

 
$
6.4

 
$
7.2

 
$
0.3

 
$
0.3

Interest cost
22.7

 
26.9

 
19.4

 
23.8

 
0.8

 
1.1

Expected return on plan assets
(33.9
)
 
(37.4
)
 
(23.5
)
 
(28.2
)
 
—

 
—

Amortization of prior service cost (credit)
2.6

 
0.4

 
0.1

 
0.2

 
(0.6
)
 
(0.6
)
Amortization of net loss
3.5

 
3.9

 
3.1

 
4.2

 
—

 
—

Settlement / curtailment loss
—

 
—

 
0.1

 
0.3

 
—

 
—

Net periodic pension (benefit) expense
$
(0.4
)
 
$
(2.7
)
 
$
5.6

 
$
7.5

 
$
0.5

 
$
0.8

In the first quarter of 2016, the Company changed the method used to estimate the service and interest cost components of net periodic pension (benefit) expense. The new estimation method uses a full yield curve approach by applying specific spot rates along the yield curve used in the determination of the pension benefit obligation, to their underlying projected cash flows, and provides a more precise measurement of the service and interest cost components. Previously, the Company used a single weighted average discount rate derived from the corresponding yield curve used to measure the pension benefit obligation. The change is applied prospectively as a change in estimate that is inseparable from a change in accounting principle and reduced service and interest cost for the three and six months ended July 2, 2016 by approximately $3.5 million and $7.1 million, respectively.