Pension Plans

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
(dollars in millions)
Service cost, net of employee contributions	$	6.7	$	7.5	$	20.2	$	22.6
Interest cost		5.4		4.6		15.9		13.7
Expected return on plan assets		(7.2)		(6.5)		(20.8)		(19.5)
Amortization		2.6		3.4		7.5		10.2
Net periodic pension cost	$	7.5	$	9.0	$	22.8	$	27.0