Pension and Other Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2016

Pension and Other Postretirement Benefit Plans [Abstract]

Pension and Other Postretirement Benefit Plans

7. Pension and Other Postretirement Benefit Plans

The components of net periodic pension cost for defined benefit pension and other postretirement benefit plans included in the Company’s results of operations are as follows:

	Three Months Ended June 30,
	2016		2015		2016		2015
(in millions)	Pension Plans				Postretirement Plans
Service cost - benefits earned during the period	$	0.2	$	0.4	$	-	$	-
Interest cost		7.4		7.3		0.1		0.1
Expected return on plan assets		(7.5)		(7.9)		-		-
Recognized net actuarial loss		2.8		4.8		-		0.1
Amortization of prior service cost		-		-		(0.3)		(0.3)
Curtailment gain		-		(1.8)		-		-
Net periodic pension cost (benefit)	$	2.9	$	2.8	$	(0.2)	$	(0.1)
	Six Months Ended June 30,
	2016		2015		2016		2015
(in millions)	Pension Plans				Postretirement Plans
Service cost - benefits earned during the period	$	0.4	$	0.7	$	-	$	-
Interest cost		14.8		14.6		0.2		0.3
Expected return on plan assets		(15.0)		(15.7)		-		-
Recognized net actuarial loss		5.6		7.8		0.1		0.1
Amortization of prior service cost		-		-		(0.7)		(0.7)
Curtailment gain		-		(1.8)		-		-
Net periodic pension cost (benefit)	$	5.8	$	5.6	$	(0.4)	$	(0.3)

In the second quarter of 2015, the Company recognized a $1.8 million curtailment gain due to the disposal of the U.K. motor business.  Included in the table above in recognized net actuarial loss was an equal and offsetting expense.