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Pension and Other Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]
The following table provides a reconciliation of benefit obligations and plan assets of the company’s domestic and non-U.S. pension plans and postretirement benefit plans:
 
 
Domestic Pension
 Benefits
 
Non-U.S. Pension
 Benefits
 
Postretirement
Benefits
(In millions)
 
2015

 
2014

 
2015

 
2014

 
2015

 
2014

 
 
 
 
 
 
 
 
 
 
 
 
 
Change in Projected Benefit Obligations
 
 
 
 
 
 
 
 
 
 
Benefit Obligation at Beginning of Year
 
$
1,291.1

 
$
449.2

 
$
1,075.4

 
$
857.9

 
$
55.3

 
$
38.7

Business combinations
 
—

 
849.0

 
52.7

 
135.1

 
—

 
14.9

Service costs
 
—

 
2.0

 
25.2

 
20.0

 
0.6

 
0.6

Interest costs
 
50.0

 
53.1

 
27.6

 
36.7

 
1.9

 
2.1

Settlements
 
—

 
(58.2
)
 
(7.4
)
 
(19.3
)
 
—

 
—

Plan participants' contributions
 
—

 
—

 
4.6

 
3.8

 
1.3

 
5.3

Actuarial (gains) losses
 
(48.7
)
 
76.7

 
(39.1
)
 
170.3

 
(2.2
)
 
4.0

Benefits paid
 
(79.3
)
 
(80.7
)
 
(29.6
)
 
(32.0
)
 
(5.4
)
 
(8.4
)
Currency translation and other
 
—

 
—

 
(73.4
)
 
(97.1
)
 
(2.7
)
 
(1.9
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit Obligation at End of Year
 
$
1,213.1

 
$
1,291.1

 
$
1,036.0

 
$
1,075.4

 
$
48.8

 
$
55.3

 
 
 
 
 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
 
 
 
Fair Value of Plan Assets at Beginning of Year
 
$
1,047.6

 
$
374.4

 
$
825.8

 
$
670.7

 
$
8.6

 
$
—

Business combinations
 
—

 
687.1

 
32.1

 
96.5

 
—

 
8.0

Actual return on plan assets
 
(28.3
)
 
111.4

 
12.4

 
141.0

 
(1.1
)
 
0.6

Employer contribution
 
5.4

 
13.6

 
28.0

 
32.9

 
4.1

 
3.1

Settlements
 
—

 
(58.2
)
 
(7.4
)
 
(19.3
)
 
—

 
—

Plan participants' contributions
 
—

 
—

 
4.6

 
3.8

 
1.3

 
5.3

Benefits paid
 
(79.3
)
 
(80.7
)
 
(29.6
)
 
(32.0
)
 
(5.4
)
 
(8.4
)
Currency translation and other
 
—

 
—

 
(48.7
)
 
(67.8
)
 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value of Plan Assets at End of Year
 
$
945.4

 
$
1,047.6

 
$
817.2

 
$
825.8

 
$
7.5

 
$
8.6

 
 
 
 
 
 
 
 
 
 
 
 
 
Funded Status
 
$
(267.7
)
 
$
(243.5
)
 
$
(218.8
)
 
$
(249.6
)
 
$
(41.3
)
 
$
(46.7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
 
$
1,213.1

 
$
1,258.3

 
$
983.4

 
$
1,014.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts Recognized in Balance Sheet
 
 
 
 
 
 
 
 
 
 
Non-current asset
 
$
—

 
$
—

 
$
72.7

 
$
61.8

 
$
3.8

 
$
4.8

Current liability
 
(2.9
)
 
(2.8
)
 
(5.7
)
 
(5.6
)
 
(2.6
)
 
(2.7
)
Non-current liability
 
(264.8
)
 
(240.7
)
 
(285.8
)
 
(305.8
)
 
(42.5
)
 
(48.8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Net amount recognized
 
$
(267.7
)
 
$
(243.5
)
 
$
(218.8
)
 
$
(249.6
)
 
$
(41.3
)
 
$
(46.7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss
 
 
 
 
 
 
 
 
 
 
Net actuarial loss
 
$
163.0

 
$
129.7

 
$
133.1

 
$
161.9

 
$
4.7

 
$
4.6

Prior service credits
 
—

 
—

 
(1.6
)
 
—

 
(0.2
)
 
(0.3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Net amount recognized
 
$
163.0

 
$
129.7

 
$
131.5

 
$
161.9

 
$
4.5

 
$
4.3
Schedule of Assumptions Used [Table Text Block]
The actuarial assumptions used to compute the funded status for the plans are based upon information available as of December 31, 2015 and 2014 and are as follows:
 
 
Domestic Pension
Benefits
 
Non-U.S. Pension
Benefits
 
Postretirement
Benefits
 
 
2015

 
2014

 
2015

 
2014

 
2015

 
2014

 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average Assumptions Used to Determine Projected Benefit Obligations
 
 
 
 
 
 
 
 
 
 
Discount rate
 
4.25
%
 
4.00
%
 
2.83
%
 
2.69
%
 
4.12
%
 
3.76
%
Average rate of increase in employee compensation
 
4.00
%
 
4.00
%
 
3.06
%
 
3.03
%
 
—

 
—

Initial healthcare cost trend rate
 
 
 
 
 
 
 
 
 
6.82
%
 
7.07
%
Ultimate healthcare cost trend rate
 
 
 
 
 
 
 
 
 
5.21
%
 
5.22
%
The actuarial assumptions used to compute the net periodic pension benefit cost (income) are based upon information available as of the beginning of the year, as presented in the following table:
 
 
Domestic Pension Benefits
 
Non-U.S. Pension Benefits
 
 
2015

 
2014

 
2013

 
2015

 
2014

 
2013

 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average Assumptions Used to Determine Net Benefit Cost (Income)
 
 
 
 
 
 
 
 
 
 
Discount rate
 
4.00
%
 
4.46
%
 
4.00
%
 
2.69
%
 
3.91
%
 
3.65
%
Average rate of increase in employee compensation
 
4.00
%
 
4.00
%
 
4.00
%
 
3.03
%
 
3.22
%
 
2.94
%
Expected long-term rate of return on assets
 
7.00
%
 
7.00
%
 
7.00
%
 
4.21
%
 
4.88
%
 
4.96
%
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The projected benefit obligation and fair value of plan assets for the company’s qualified and non-qualified pension plans with projected benefit obligations in excess of plan assets are as follows:
 
 
Pension Plans
(In millions)
 
2015

 
2014

 
 
 
 
 
Pension Plans with Projected Benefit Obligations in Excess of Plan Assets
 
 
 
 
Projected benefit obligation
 
$
1,739.2

 
$
1,820.2

Fair value of plan assets
 
1,180.0

 
1,265.3
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The accumulated benefit obligation and fair value of plan assets for the company's qualified and non-qualified pension plans with accumulated benefit obligations in excess of plan assets are as follows:
 
 
Pension Plans
(In millions)
 
2015

 
2014

 
 
 
 
 
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
 
 
 
 
Accumulated benefit obligation
 
$
1,694.3

 
$
1,738.0

Fair value of plan assets
 
1,179.7

 
1,265.3
Schedule of Net Benefit Costs [Table Text Block]
The net periodic pension benefit cost (income) includes the following components:
 
 
Domestic Pension Benefits
 
Non-U.S. Pension Benefits
(In millions)
 
2015

 
2014

 
2013

 
2015

 
2014

 
2013

Components of Net Benefit Cost (Income)
 
 
 
 
 
 
 
 
 
 
Service cost-benefits earned
 
$
—

 
$
2.0

 
$
—

 
$
25.2

 
$
20.0

 
$
19.5

Interest cost on benefit obligation
 
50.0

 
53.1

 
19.0

 
27.6

 
36.7

 
29.0

Expected return on plan assets
 
(54.3
)
 
(60.8
)
 
(24.3
)
 
(33.6
)
 
(34.4
)
 
(29.0
)
Amortization of actuarial net loss
 
0.6

 
3.7

 
5.2

 
9.3

 
4.2

 
6.3

Amortization of prior service benefit
 
—

 
—

 
—

 
(0.2
)
 
(0.1
)
 
(0.3
)
Settlement/curtailment loss
 
—

 
25.5

 
—

 
1.0

 
4.1

 
0.1

Special termination benefits
 
—

 
—

 
—

 
1.3

 
0.3

 
1.1

 
 
 
 
 
 
 
 
 
 
 
 
 
Net periodic benefit cost (income)
 
$
(3.7
)
 
$
23.5

 
$
(0.1
)
 
$
30.6

 
$
30.8

 
$
26.7
Schedule of Expected Benefit Payments [Table Text Block]
Estimated future benefit payments during the next five years and in the aggregate for the five fiscal years thereafter, are as follows:
(In millions)
 
Domestic
Pension
Benefits

 
Non-U.S.
Pension
Benefits

 
Post-
retirement
Benefits

 
 
 
 
 
 
 
Expected Benefit Payments
 
 
 
 
 
 
2016
 
$
82.1

 
$
30.0

 
$
2.9

2017
 
84.7

 
28.4

 
2.9

2018
 
80.6

 
29.7

 
2.9

2019
 
80.3

 
32.6

 
2.9

2020
 
80.2

 
34.7

 
2.8

2021-2025
 
390.1

 
198.6

 
12.9
Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of the company’s plan assets at December 31, 2015 and 2014, by asset category are as follows:
 
 
December 31,

 
Quoted Prices
in Active
Markets

 
Significant
Other
Observable
Inputs

 
Significant
Unobservable
Inputs

(In millions)
 
2015

 
(Level 1)

 
(Level 2)

 
(Level 3)

 
 
 
 
 
 
 
 
 
Domestic Pension Plan Assets
 
 
 
 
 
 
 
 
U.S. equity funds
 
$
252.3

 
$
—

 
$
252.3

 
$
—

International equity funds
 
231.5

 
—

 
231.5

 
—

Fixed income funds
 
442.5

 
—

 
442.5

 
—

Private equity funds
 
3.3

 
—

 
—

 
3.3

Money market funds
 
15.8

 
—

 
15.8

 
—

 
 
 
 
 
 
 
 
 
Total Domestic Pension Plans
 
$
945.4

 
$
—

 
$
942.1

 
$
3.3

 
 
 
 
 
 
 
 
 
Non-U.S. Pension Plan Assets
 
 
 
 
 
 
 
 
Equity funds
 
$
122.8

 
$
57.3

 
$
65.5

 
$
—

Fixed income funds
 
287.7

 
20.3

 
267.4

 
—

Hedge funds
 
67.5

 
—

 
67.5

 
—

Multi-asset funds
 
17.4

 
—

 
17.4

 
—

Derivative funds
 
135.0

 
—

 
135.0

 
—

Insurance contracts
 
153.6

 
—

 
153.6

 
—

Cash / money market funds
 
33.2

 
32.8

 
0.4

 
—

 
 
 
 
 
 
 
 
 
Total Non-U.S. Pension Plans
 
$
817.2

 
$
110.4

 
$
706.8

 
$
—

 
 
December 31,

 
Quoted Prices
in Active
Markets

 
Significant
Other
Observable
Inputs

 
Significant
Unobservable
Inputs

(In millions)
 
2014

 
(Level 1)

 
(Level 2)

 
(Level 3)

 
 
 
 
 
 
 
 
 
Domestic Pension Plan Assets
 
 
 
 
 
 
 
 
U.S. equity funds
 
$
290.9

 
$
—

 
$
290.9

 
$
—

International equity funds
 
253.9

 
—

 
253.9

 
—

Fixed income funds
 
462.5

 
—

 
462.5

 
—

Private equity funds
 
4.7

 
—

 
—

 
4.7

Money market funds
 
35.6

 
—

 
35.6

 
—

 
 
 
 
 
 
 
 
 
Total Domestic Pension Plans
 
$
1,047.6

 
$
—

 
$
1,042.9

 
$
4.7

 
 
 
 
 
 
 
 
 
Non-U.S. Pension Plan Assets
 
 
 
 
 
 
 
 
Equity funds
 
$
129.6

 
$
55.0

 
$
74.6

 
$
—

Fixed income funds
 
341.1

 
21.1

 
320.0

 
—

Hedge funds
 
69.1

 
—

 
69.1

 
—

Multi-asset funds
 
13.6

 
—

 
13.6

 
—

Derivative funds
 
105.3

 
—

 
105.3

 
—

Insurance contracts
 
136.5

 
—

 
136.5

 
—

Cash / money market funds
 
30.6

 
30.2

 
0.4

 
—

 
 
 
 
 
 
 
 
 
Total Non-U.S. Pension Plans
 
$
825.8

 
$
106.3

 
$
719.5

 
$
—