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Net Periodic Benefit Cost - Defined Benefit Plans
 9 Months Ended
Oct. 01, 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 nine months ended October 1, 2016 and October 3, 2015:
 
Third 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
$
2.3

 
$
1.7

 
$
3.1

 
$
3.6

 
$
0.2

 
$
0.1

Interest cost
11.3

 
13.5

 
9.0

 
11.4

 
0.4

 
0.6

Expected return on plan assets
(17.0
)
 
(18.7
)
 
(10.8
)
 
(14.3
)
 
—

 
—

Amortization of prior service cost (credit)
1.3

 
0.3

 
0.1

 
0.4

 
(0.3
)
 
(0.4
)
Amortization of net loss
1.8

 
1.9

 
1.4

 
1.5

 
—

 
—

Settlement / curtailment loss
—

 
—

 
0.3

 
0.4

 
—

 
—

Net periodic pension (benefit) expense
$
(0.3
)
 
$
(1.3
)
 
$
3.1

 
$
3.0

 
$
0.3

 
$
0.3

 
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
$
7.0

 
$
5.2

 
$
9.5

 
$
10.8

 
$
0.5

 
$
0.4

Interest cost
34.0

 
40.4

 
28.4

 
35.2

 
1.2

 
1.7

Expected return on plan assets
(50.9
)
 
(56.1
)
 
(34.3
)
 
(42.5
)
 
—

 
—

Amortization of prior service cost (credit)
3.9

 
0.7

 
0.2

 
0.6

 
(0.9
)
 
(1.0
)
Amortization of net loss
5.3

 
5.8

 
4.5

 
5.7

 
—

 
—

Settlement / curtailment loss
—

 
—

 
0.4

 
0.7

 
—

 
—

Net periodic pension (benefit) expense
$
(0.7
)
 
$
(4.0
)
 
$
8.7

 
$
10.5

 
$
0.8

 
$
1.1


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 nine months ended October 1, 2016 by approximately $3.4 million and $10.5 million, respectively.