Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Benefit Obligations, Plan Assets and Funded Status of Plans

DECEMBER 31	U.S. Qualified Pension Plan				U.S. Non-Qualified     Pension Plan				Chaucer Pension Plan
(in millions)		2015		2014		2015		2014		2015		2014
Accumulated benefit obligation	$	500.5	$	538.5	$	37.8	$	40.6	$	126.0	$	134.1
Change in benefit obligation:
Projected benefit obligation, beginning of
period		538.5		548.8		40.6		37.4		137.5		128.5
Employee contributions		-		-		-		-		0.3		0.4
Service cost - benefits earned during the
period		-		-		-		-		1.1		1.5
Interest cost		22.5		26.0		1.7		1.8		5.1		5.9
Actuarial (gains) losses		(23.3)		53.0		(1.3)		4.6		(0.7)		12.4
Benefits paid (1)		(37.2)		(89.3)		(3.2)		(3.2)		(5.8)		(2.6)
Curtailment gain		-		-		-		-		(1.8)		-
Foreign currency translation		-		-		-		-		(7.4)		(8.6)
Projected benefit obligation, end of year		500.5		538.5		37.8		40.6		128.3		137.5
Change in plan assets:
Fair value of plan assets, beginning of
period		513.4		542.0		-		-		131.8		120.2
Actual return on plan assets		(3.4)		59.4		-		-		3.3		14.8
Contributions		-		1.3		3.2		3.2		1.3		7.7
Benefits paid (1)		(37.2)		(89.3)		(3.2)		(3.2)		(5.8)		(2.6)
Foreign currency translation		-		-		-		-		(7.1)		(8.3)
Fair value of plan assets, end of year		472.8		513.4		-		-		123.5		131.8
Funded status of the plans	$	(27.7)	$	(25.1)	$	(37.8)	$	(40.6)	$	(4.8)	$	(5.7)

Schedule of Expected Benefit Payments

YEARS ENDED DECEMBER 31		2016		2017		2018		2019		2020		2021-2025
(in millions)
U.S. qualified pension plan	$	38.5	$	39.4	$	38.6	$	38.4	$	38.0	$	183.3
U.S. non-qualified pension plan	$	3.2	$	3.1	$	3.1	$	3.0	$	3.0	$	13.8
Chaucer pension plan	$	1.8	$	1.8	$	1.9	$	2.0	$	2.0	$	11.3

Components of Net Periodic Pension Cost

YEARS ENDED DECEMBER 31		2015		2014		2013
(in millions)
Service cost - benefits earned during the period	$	1.1	$	1.5	$	1.5
Interest cost		29.3		33.7		31.9
Expected return on plan assets		(31.6)		(36.6)		(35.9)
Recognized net actuarial loss		13.9		11.7		14.7
Amortization of prior service cost		-		0.1		-
Settlement loss		-		12.1		0.4
Curtailment gain		(1.8)		-		-
Net periodic pension cost	$	10.9	$	22.5	$	12.6

Accumulated Other Comprehensive (Income) Loss Related to Postretirement Benefit Plans

DECEMBER 31		2015		2014
(in millions)
Net actuarial loss	$	119.4	$	126.9

Summary of Estimated Amount Amortized From Accumulated Other Comprehensive Income (Loss) Into Net Periodic Pension Cost

ESTIMATED AMORTIZATION IN 2016		Expense
(in millions)
Net actuarial loss	$	11.0

Postretirement Plans

Schedule of Benefit Obligations, Plan Assets and Funded Status of Plans

DECEMBER 31		2015		2014
(in millions)
Change in benefit obligation:
Accumulated postretirement benefit obligation, beginning of year	$	17.0	$	17.1
Service cost		-		0.1
Interest cost		0.5		0.8
Net actuarial loss		0.1		1.5
Benefits paid		(2.5)		(2.5)
Plan amendment		(3.0)		-
Accumulated postretirement benefit obligation, end of year		12.1		17.0
Fair value of plan assets, end of year		-		-
Funded status of plans	$	(12.1)	$	(17.0)

Schedule of Expected Benefit Payments

YEARS ENDING DECEMBER 31
(in millions)
2016	$	1.5
2017		1.4
2018		1.2
2019		1.1
2020		1.1
2021-2025		4.3

Components of Net Periodic Pension Cost

YEARS ENDED DECEMBER 31		2015		2014		2013
(in millions)
Service cost	$	-	$	0.1	$	0.1
Interest cost		0.5		0.8		1.2
Recognized net actuarial loss		0.2		0.1		0.2
Amortization of prior service cost		(1.4)		(1.9)		(3.7)
Net settlement gain		-		-		(1.6)
Net periodic postretirement benefit	$	(0.7)	$	(0.9)	$	(3.8)

Accumulated Other Comprehensive (Income) Loss Related to Postretirement Benefit Plans

DECEMBER 31		2015		2014
(in millions)
Net actuarial loss	$	3.3	$	3.4
Net prior service cost		(3.3)		(1.7)
	$	-	$	1.7

Summary of Estimated Amount Amortized From Accumulated Other Comprehensive Income (Loss) Into Net Periodic Pension Cost

Estimated Amortization in 2016		Expense (Benefit)
(in millions)
Net actuarial loss	$	0.2
Net prior service cost		(1.4)
	$	(1.2)

Summary of Weighted-Average Assumptions Used to Determine Pension Benefit Obligations

YEARS ENDED DECEMBER 31	2015	2014
Postretirement benefit obligations discount rate	4.63%	4.38%
Postretirement benefit cost discount rate	4.38%	5.00%

Assumed Health Care Cost Trend Rates

DECEMBER 31	2015	2014
Health care cost trend rate assumed for next year	7.00%	7.00%
Rate to which the cost trend is assumed to decline (ultimate trend rate)	5.00%	5.00%
Year the rate reaches the ultimate trend rate	2020	2020