XML 44 R32.htm IDEA: XBRL DOCUMENT v3.7.0.1
Net Periodic Benefit Cost - Defined Benefit Plans (Tables)
 6 Months Ended
Jul. 01, 2017
Notes To Financial Statements [Abstract]  
Components of Net Periodic Benefit Cost
Following are the components of net periodic pension (benefit) expense for the three and six months ended July 1, 2017 and July 2, 2016:

 
Second Quarter
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
All Plans
(Millions of Dollars)
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Service cost
$
2.1

 
$
2.4

 
$
3.3

 
$
3.2

 
$
0.2

 
$
0.1

Interest cost
10.9

 
11.4

 
7.1

 
9.8

 
0.3

 
0.4

Expected return on plan assets
(16.1
)
 
(17.0
)
 
(11.2
)
 
(11.8
)
 
—

 
—

Amortization of prior service cost (credit)
0.2

 
1.3

 
(0.3
)
 
—

 
(0.4
)
 
(0.3
)
Amortization of net loss
2.3

 
1.8

 
2.3

 
1.6

 
—

 
—

Settlement / curtailment loss
—

 
—

 
0.3

 
—

 
—

 
—

Net periodic pension (benefit) expense
$
(0.6
)
 
$
(0.1
)
 
$
1.5

 
$
2.8

 
$
0.1

 
$
0.2


 
Year-to-Date
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
All Plans
(Millions of Dollars)
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Service cost
$
4.4

 
$
4.7

 
$
6.6

 
$
6.4

 
$
0.3

 
$
0.3

Interest cost
21.6

 
22.7

 
14.1

 
19.4

 
0.7

 
0.8

Expected return on plan assets
(32.2
)
 
(33.9
)
 
(22.2
)
 
(23.5
)
 
—

 
—

Amortization of prior service cost (credit)
0.5

 
2.6

 
(0.6
)
 
0.1

 
(0.7
)
 
(0.6
)
Amortization of net loss
4.2

 
3.5

 
4.6

 
3.1

 
—

 
—

Settlement / curtailment loss
—

 
—

 
12.8

 
0.1

 
—

 
—

Net periodic pension (benefit) expense
$
(1.5
)
 
$
(0.4
)
 
$
15.3

 
$
5.6

 
$
0.3

 
$
0.5


For the three and six months ended July 1, 2017, the Company recorded pre-tax charges of approximately $0.3 million and $12.8 million, respectively, reflecting losses previously reported in accumulated other comprehensive loss related to a non-U.S. pension plan for which the Company settled its obligation by purchasing an annuity and making lump sum payments to participants.