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Employee Postretirement Benefits (Tables)
9 Months Ended
Sep. 30, 2013
Compensation And Retirement Disclosure [Abstract]  
Schedule of Net Periodic Benefit Cost

Included in the table below is the periodic expense for pension and other postretirement benefits offered by the company.

 

Pension Expense

                  
(millions)    Pension Benefits     Other Postretirement Benefits  

Three months ended Sept. 30,

   2013     2012     2013     2012  

Components of net periodic benefit expense

        

Service cost

   $ 4.5      $ 4.3      $ 0.7      $ 0.6   

Interest cost on projected benefit obligations

     7.3        7.5        2.3        2.5   

Expected return on assets

     (9.6     (9.3     0.0        0.0   

Amortization of:

        

Transition obligation

     0.0        0.0        0.0        0.4   

Prior service (benefit) cost

     (0.1     (0.1     (0.1     0.2   

Actuarial loss

     5.1        3.9        0.2        0.1   

Settlement cost

     1.0        0.0        0.0        0.0   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net pension expense recognized in the Consolidated Condensed Statements of Income

   $ 8.2      $ 6.3      $ 3.1      $ 3.8   
  

 

 

   

 

 

   

 

 

   

 

 

 

Nine months ended Sept. 30,

                        

Components of net periodic benefit expense

        

Service cost

   $ 13.6      $ 12.8      $ 1.9      $ 1.8   

Interest cost on projected benefit obligations

     21.7        22.5        7.0        7.6   

Expected return on assets

     (28.8     (27.8     0.0        0.0   

Amortization of:

        

Transition obligation

     0.0        0.0        0.0        1.3   

Prior service (benefit) cost

     (0.3     (0.3     (0.3     0.6   

Actuarial loss

     15.4        11.5        0.7        0.1   

Settlement cost

     1.0        0.0        0.0        0.0   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net pension expense recognized in the Consolidated Condensed Statements of Income

   $ 22.6      $ 18.7      $ 9.3      $ 11.4