Pension and Other Postemployment Benefit (OPEB) Plans

9 Months Ended

Sep. 30, 2011

Pension and Other Postemployment Benefit (OPEB) Plans [Abstract]

Pension and Other Postemployment Benefit (OPEB) Plans

NOTE 5. Pension and Other Postemployment Benefit (OPEB) Plans

The following tables present the components of net periodic expense (benefit) of the Company’s Pension and OPEB plans:

	Pension Benefits						Other Benefits
	Three Months  Ended September 30,						Three Months  Ended September 30,
(In Millions)	2011			2010			2011			2010
Service cost	$	0.5		$	0.5		$	0.2		$	0.1
Interest cost		2.0			2.0			0.2			0.5
Expected return on plan assets		(2.1	)		(2.1	)		—			—
Amortization of net loss (gain)		0.3			0.4			(2.4	)		(1.2	)
Additional expense due to curtailments, settlements and terminations		—			0.2			—			—
Net periodic expense (benefit)	$	0.7		$	1.0		$	(2.0	)	$	(0.6	)

	Pension Benefits						Other Benefits
	Nine Months  Ended September 30,						Nine Months  Ended September 30,
(In Millions)	2011			2010			2011			2010
Service cost	$	1.5		$	1.5		$	0.6		$	0.3
Interest cost		6.0			6.7			0.6			1.6
Expected return on plan assets		(6.3	)		(8.2	)		—			—
Amortization of net loss (gain)		0.9			1.1			(7.2	)		(3.7	)
Additional expense (income) due to curtailments, settlements and terminations (see below)		—			29.6			—			(6.8	)
Net periodic expense (benefit)	$	2.1		$	30.7		$	(6.0	)	$	(8.6	)

For the nine months ended September 30, 2010, “Additional expense (income) due to curtailments, settlements and terminations” in pension benefits includes the reversion of our hourly pension plan that yielded $43.6 million, net of excise tax, in net proceeds to us. The reversion resulted in a non-cash charge of $29.4 million. In addition, our salary plan included $0.2 million in costs for special termination benefits.

For the nine months ended September 30, 2010, “Additional expense (income) due to curtailments, settlements and terminations” in other benefits includes the impact of post-retirement benefits that were terminated for a plant closing and a sold business. These terminations resulted in a non-cash curtailment gain of $7.0 million ($6.6 million recorded in discontinued operations and $0.4 million recorded in impairments, restructuring charges, and other items), partially offset by $0.2 million of other expenses.

We have defined contribution retirement plans that cover substantially all domestic employees. The combined expense for these plans was $0.4 million and $0.6 million for the three months ended September 30, 2011 and 2010, respectively and $1.9 million and $2.1 million for the nine months ended September 30, 2011 and 2010, respectively. All contributions were funded from the proceeds obtained from the reversion of our former salaried pension plan.