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Postretirement Benefit Plans (Tables) (Postretirement Benefit Plans [Member])
12 Months Ended
Dec. 31, 2012
Postretirement Benefit Plans [Member]
 
Post Retirement Benefit Plans  
Net periodic benefit cost for the Company's Postretirement benefit plans
The following tables summarize the net periodic benefit cost information and the related assumptions used to measure the net periodic benefit cost for the years ended December 31:

  
2012
2011
2010
Components of net periodic benefit cost:
 
 
 
Service cost
$
2.5

$
2.5

$
2.1

Interest cost
28.4

32.9

35.6

Expected return on plan assets
(10.6
)
(4.4
)

Amortization of prior service credit
(0.2
)
(0.3
)
(1.5
)
Amortization of net actuarial loss
2.5

2.9

4.0

Net periodic benefit cost
$
22.6

$
33.6

$
40.2

Postretirement Benefit Plans Assumptions
The following table summarizes assumptions used to measure the benefit obligation for the postretirement benefit plans at December 31:
 
Assumptions:
2012
2011
Discount rate
3.80
%
4.85
%
Rate of return
5.00
%
5.00
%
Assumptions:
2012
2011
2010
Discount rate
4.85
%
5.50
%
5.75
%
Rate of return
5.00
%
5.00
%

Defined benefit pension and postretirement benefits for change in benefit obligations
The following tables set forth the change in benefit obligation, change in plan assets, funded status and amounts recognized on the Consolidated Balance Sheets of the defined benefit postretirement benefit plans as of December 31, 2012 and 2011:
 
  
2012
2011
Change in benefit obligation:
 
 
Benefit obligation at beginning of year
$
628.6

$
644.0

Service cost
2.5

2.5

Interest cost
28.4

32.9

Amendments
0.9


Actuarial losses (gains)
24.5

(2.8
)
Benefits paid
(45.7
)
(48.0
)
Benefit obligation at end of year
$
639.2

$
628.6

Defined benefit and postretirement benefit for Change in Plan Assets
Change in plan assets:
 
 
Fair value of plan assets at beginning of year
$
170.9

$
54.0

Actual return on plan assets
9.8


Company contributions / payments
86.9

164.9

Benefits paid
(45.7
)
(48.0
)
Fair value of plan assets at end of year
221.9

170.9

Funded status at end of year
$
(417.3
)
$
(457.7
)
Defined Benefit and postretirement benefit for Change in Plan Assets Amounts recognized on the Consolidated Balance Sheets
Amounts recognized on the Consolidated Balance Sheets:
 
 
Current liabilities
$
(45.5
)
$
(61.8
)
Non-current liabilities
(371.8
)
(395.9
)
 
$
(417.3
)
$
(457.7
)
Defined Benefit and postretirement benefit for Change in Plan Assets Amounts recognized in accumulated other Comprehensive income
Amounts recognized in accumulated other comprehensive loss:
 
 
Net actuarial loss
$
125.7

$
103.0

Net prior service cost
7.6

6.5

Accumulated other comprehensive loss
$
133.3

$
109.5

Changes in plan assets and benefit obligations recognized in accumulated other comprehensive income (AOCI)
Changes in plan assets and benefit obligations recognized in AOCL:
 
 
AOCI at beginning of year
$
109.5

$
110.4

Net actuarial loss
25.2

1.7

Prior service cost
0.9


Recognized net actuarial loss
(2.5
)
(2.9
)
Recognized prior service credit
0.2

0.3

Total recognized in accumulated other comprehensive loss at December 31
$
133.3

$
109.5

Target assets allocation and actual asset allocations for US pension plan assets
The Company’s target allocation for the VEBA trust assets, as well as the actual VEBA trust asset allocation as of December 31, 2012 and 2011, was as follows:
 
  
Current Target
Allocation
Percentage of VEBA Assets
at December 31,
Asset Category
 
 
 
2012
2011
Equity securities
45%
to
55%
49%
0%
Debt securities
45%
to
55%
51%
100%
Total
 
 
 
100%
100%
Fair value assets measured on recurring basis
The following table presents the fair value hierarchy for those investments of the Company’s VEBA trust assets measured at fair value on a recurring basis as of December 31, 2012:
 
 
Total
Level 1
Level 2
Level 3
Assets:
 
 
 
 
Cash and cash equivalents
$
2.1

$
2.1

$

$

Common Collective funds - equity
109.0


109.0


Common collective funds - fixed income
110.8


110.8


Total Assets
$
221.9

$
2.1

$
219.8

$



The following table presents the fair value hierarchy for those investments of the Company’s VEBA trust assets measured at fair value on a recurring basis as of December 31, 2011:
 
Total
Level 1
Level 2
Level 3
Assets:
 
 
 
 
Cash and cash equivalents
$
85.9

$
85.9

$

$

Common collective funds - fixed income
85.0


85.0


Total Assets
$
170.9

$
85.9

$
85.0

$

Employer contributions to defined postretirement benefit plans
Employer Contributions to Postretirement Benefit Plans:
2011
$
125.0

2012
50.0

2013 (planned)
50.0

Future pension benefit payments
Future benefit payments are expected to be as follows:
 
Gross
Expected
Medicare
Subsidies
Net Including
Medicare
Subsidies
2013
$
58.3

$
3.1

$
55.2

2014
57.4

3.4

54.0

2015
55.9

3.7

52.2

2016
54.5

3.9

50.6

2017
53.0

4.0

49.0

2018-2022
239.6

19.3

220.3