Pension Plans

6 Months Ended

Jun. 30, 2014

Pension Plans

8. Pension Plans

The company has both tax-qualified and nonqualified, noncontributory defined benefit pension plans, that together cover certain domestic and foreign employees. These plans provide benefits based upon a participant’s compensation and years of service.

The components of net periodic pension cost are as follows:

	Quarter Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
(dollars in millions)
Service cost, net of employee contributions	$	6.8		$	7.6		$	13.5		$	15.1
Interest cost		5.2			4.5			10.5			9.1
Expected return on plan assets		(6.8	)		(6.5	)		(13.6	)		(13.0	)
Amortization		2.5			3.4			4.9			6.8
Net periodic pension cost	$	7.7		$	9.0		$	15.3		$	18.0