Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Change in Fair Value of Plan Assets and Funded Status for Plans

The change in benefit obligation, change in fair value of plan assets and funded status for the plans are as follows:

	2013			2012
(dollars in millions)
Benefit obligation - beginning	$	485.0		$	421.9
Service cost		30.4			28.4
Interest cost		18.3			19.5
Actuarial (gain) loss		(20.8	)		37.2
Benefits paid		(39.5	)		(23.1	)
Currency/other		3.2			1.1
Benefit obligation - ending	$	476.6		$	485.0
Fair value of plan assets - beginning	$	355.7		$	298.7
Actual return on plan assets		64.0			38.2
Company contributions		33.4			40.3
Benefits paid		(39.5	)		(23.1	)
Currency/other		2.6			1.6
Fair value of plan assets - ending	$	416.2		$	355.7
Funded status of the plans, December 31	$	(60.4	)	$	(129.3	)

Amounts Recognized In Accumulated Other Comprehensive Loss

Amounts recognized in accumulated other comprehensive loss at December 31 consisted of:

	2013			2012
(dollars in millions)
Net loss	$	105.8		$	178.2
Prior service credit		(3.7	)		(5.1	)
Before tax amount	$	102.1		$	173.1
After tax amount	$	66.7		$	111.1

Amounts Recognized In Consolidated Balance Sheets

Amounts recognized in the consolidated balance sheets at December 31 consisted of:

	2013			2012
(dollars in millions)
Other assets	$	9.8		$	1.0
Accrued compensation and benefits		(4.6	)		(3.9	)
Other long-term liabilities		(65.6	)		(126.4	)
Net amount recognized	$	(60.4	)	$	(129.3	)

Components Of Net Periodic Pension Cost

The components of net periodic benefit cost for the following years ended December 31 are:

	2013			2012			2011
(dollars in millions)
Service cost, net of employee contributions	$	29.9		$	27.8		$	26.1
Interest cost		18.3			19.5			19.0
Expected return on plan assets		(26.0	)		(24.1	)		(23.2	)
Amortization of net loss		14.1			11.0			8.4
Amortization of prior service cost		(0.5	)		(0.4	)		(0.2	)
Net periodic pension cost	$	35.8		$	33.8		$	30.1

Weighted Average Assumptions Used In Determining Pension Plan Information

The weighted average assumptions used in determining pension plan information for the following years ended December 31 are:

	2013			2012			2011
Net Cost
Discount rate		3.89	%		4.73	%		5.15	%
Expected return on plan assets		7.27	%		7.52	%		7.93	%
Rate of compensation increase		3.38	%		3.76	%		4.34	%
Benefit Obligation
Discount rate		4.58	%		3.89	%		4.73	%
Rate of compensation increase		3.49	%		3.38	%		3.76	%

Weighted Average Target Asset Allocations for Plans

The weighted average target asset allocations for the plans at December 31, are as follows:

	Target Allocation
	2013			2012
Asset Categories
Equity securities		61	%		61	%
Fixed income securities		33	%		33	%
Cash equivalents		6	%		6	%
Total		100	%		100	%

Fair Value Measurements of Plan Assets

The following table summarizes fair value measurements of plan assets at December 31:

	Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Total(B)
	2013		2012		2013		2012		2013		2012
(dollars in millions)
Cash equivalents	$	—	$	—	$	6.7	$	5.1	$	6.7	$	5.1
Equity securities:
U.S. large-cap		—		—		117.8		94.6		117.8		94.6
U.S. mid-cap		35.3		28.6		—		—		35.3		28.6
U.S. small-cap		45.8		38.7		—		—		45.8		38.7
Foreign		30.2		27.8		44.9		36.5		75.1		64.3
Fixed income securities:
Diversified bond fund(A)		—		—		106.9		98.6		106.9		98.6
Foreign government bonds		—		—		10.6		9.8		10.6		9.8
Foreign corporate notes and bonds		—		—		11.0		10.2		11.0		10.2
Guaranteed insurance contracts		—		—		7.0		5.8		7.0		5.8
Total plan assets	$	111.3	$	95.1	$	304.9	$	260.6	$	416.2	$	355.7

^(A)  Diversified bond fund consists of U.S. Treasury bonds, mortgage backed securities, and corporate bonds.

^(B)  There were no plan assets categorized as Level 3 at December 31, 2013 and 2012, respectively.

Expected Benefit Payments

The total expected benefit payments are as follows:

(dollars in millions)
2014	$	31.8
2015		31.7
2016		32.8
2017		34.8
2018		36.6
2019 through 2023		201.6