XML 53 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pension and Other Postemployment Benefit Plans Pension and Other Postemployment Benefit Plans (Notes)
9 Months Ended
Sep. 30, 2012
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
Pension and Other Postretirement Benefit Plans
The following tables present the components of net periodic expense (benefit) of the Company’s Pension and Postretirement plans: 
 
Pension Benefits
 
Other Benefits
 
Three Months Ended September 30,
 
Three Months Ended September 30,
(In Millions)
2012
 
2011
 
2012
 
2011
Service cost
$
0.5

 
$
0.5

 
$
0.0

 
$
0.2

Interest cost
1.7

 
2.0

 
0.1

 
0.2

Expected return on plan assets
(2.1
)
 
(2.1
)
 
(0.1
)
 
0.0

Amortization of net loss (gain)
0.7

 
0.3

 
(3.5
)
 
(2.4
)
Net periodic expense (benefit)
$
0.8

 
$
0.7

 
$
(3.5
)
 
$
(2.0
)
 
 
Pension Benefits
 
Other Benefits
 
Nine Months Ended September 30,
 
Nine Months Ended September 30,
(In Millions)
2012
 
2011
 
2012
 
2011
Service cost
$
1.6

 
$
1.5

 
$
0.1

 
$
0.6

Interest cost
5.2

 
6.0

 
0.4

 
0.6

Expected return on plan assets
(6.2
)
 
(6.3
)
 
(0.2
)
 
0.0

Amortization of net loss (gain)
2.1

 
0.9

 
(9.2
)
 
(7.2
)
Curtailment (gain)
0.0

 
0.0

 
(45.0
)
 
0.0

Net periodic expense (benefit)
$
2.7

 
$
2.1

 
$
(53.9
)
 
$
(6.0
)
The curtailment gain, included in the tables above, is due to the termination of certain postretirement benefits for salaried employees and retirees. The non cash gain of $45.0 million was primarily a result of reversals of accrued liabilities and the related balance in “Accumulated other comprehensive income” (“AOCI”), related to these terminated benefits. We informed employees and current retirees that (1) effective May 1, 2012 we would no longer provide life insurance benefits to eligible current and future salaried retirees of the Company, (2) effective December 31, 2013, we would no longer provide pre-age 65 retiree group health care benefits to current salaried employees and current salaried retirees of the Company who could participate or who are currently participating in the Plan and (3) effective May 1, 2012, all current employees who have not satisfied (as of May 1, 2012) the age and Company service requirements for eligibility and participation in the Plan providing pre-age 65 retiree group health care benefits, will no longer be eligible. Due to the negative plan amendment, described in clause (2) above, we will record increased amortization of net gains until December 31, 2013.
We have defined contribution retirement plans that cover substantially all U.S. employees. The combined expense for these plans was $0.4 million for the three months ended September 30, 2012 and 2011, respectively and $1.9 million for the nine months ended September 30, 2012 and 2011, respectively. All contributions were funded from the proceeds obtained from the reversion of our former salaried pension plan.