Employee Retirement Plans (Tables)

Actuarial assumptions



	Year Ended December 31,
	2014	2013	2012
Assumptions used to determine benefit obligations at the annual measurement date were:
Obligation discount rate	4.33%	5.22%	4.25%
Compensation increase rate	4.00%	4.00%	4.00%
Assumptions used to determine net periodic benefit costs were:
Obligation discount rate	5.22%	4.25%	5.40%
Long-term rate of return on plan assets	7.75%	7.75%	7.75%
Compensation increase rate	4.00%	4.00%	3.00%

Components of net retirement cost



	Year Ended December 31,
	2014			2013			2012
	(in millions)
Expense Components
Service cost	$	0.5		$	1.1		$	0.9
Interest	20.2			18.5			19.4
Expected return on plan assets	(31.0		)	(26.6		)	(22.9		)
Amortization of actuarial loss	2.1			4.9			3.2
Prior service cost	—			0.1			0.1
Defined benefit expense	(8.2		)	(2.0		)	0.7
Profit sharing	17.4			12.3			11.9
Multiemployer plan	0.8			—			—
Net expense	$	10.0		$	10.3		$	12.6

Obligations and funded status



	Year Ended December 31,
	2014			2013
	(in millions)
Accumulated Benefit Obligations	$	473.8		$	392.1
Projected Benefit Obligations:
Beginning of year	$	392.1		$	442.5
Service cost	0.5			1.1
Interest	20.2			18.5
Benefits paid	(16.4		)	(15.8		)
Actuarial (gain)/loss	77.6			(54.2		)
Curtailment	(0.1		)	—
End of year	$	473.9		$	392.1
Plans' Assets:
Beginning of year	$	399.2		$	340.1
Actual return on assets	36.7			56.0
Employer contributions	15.0			18.9
Benefits paid	(16.4		)	(15.8		)
End of year	$	434.5		$	399.2

Consolidated Balance Sheet Components:
Other assets	$	1.2		$	17.8
Accrued liabilities	(40.4		)	(10.7		)
Net funded status	$	(39.4	)	$	7.1
Percent of projected benefit obligations funded	91.7		%	101.8		%

Amounts recognized in other comprehensive income (loss)



	Year Ended December 31,
	2014			2013		2012
	(in millions)
Actuarial gain (loss)	$	(71.9	)	$	83.7	$	(48.1	)
Amortization of actuarial loss	2.1			4.9		3.2
Amortization of prior service cost	—			0.1		0.1
Curtailment	0.1			—		—
Total before income taxes	(69.7		)	88.7		(44.8		)
Income tax expense (benefit)	(25.9		)	32.9		(16.7		)
Net amount recognized in other comprehensive income (loss)	$	(43.8	)	$	55.8	$	(28.1	)

The target and actual allocations of the plans' assets at December 31, 2014 are as follows:



	Target Allocation	December 31, 2014
Cash and cash equivalents		1	%
Liability hedging portfolio	50%	47	%
Growth portfolio	50%	52	%
Total		100	%

The estimated fair value of the plans' assets at December 31, 2014 and 2013, indicating input levels used to determine fair value are as follows:



	Fair Value Measurement as of December 31, 2014
	(in millions)
	Level 1		Level 2		Level 3		Total

Temporary cash investments	$	4.8	$	—	$	—	$	4.8
Debt common trust funds	—		275.0		—		275.0
Equity common trust funds	—		154.7		—		154.7
	$	4.8	$	429.7	$	—	$	434.5



	Fair Value Measurement as of December 31, 2013
	(in millions)
	Level 1		Level 2		Level 3		Total

Temporary cash investments	$	7.0	$	—	$	—	$	7.0
Debt common trust funds	—		101.3		—		101.3
Equity common trust funds	—		290.9		—		290.9
	$	7.0	$	392.2	$	—	$	399.2



		PPA Zone Status			Contributions for Year Ended December 31,
Pension Fund	Employer Identification Number	2014	2013	Financial improvement plan status	2014		2013		2012		Surcharge imposed	Expiration date of collective bargaining agreement
					(in millions)
Boilermaker-Blacksmith National Pension Trust	48-6168020	Yellow	Yellow	Implemented	$	0.6	$	—	$	—	No	July 3, 2016

Benefit payments for the Company's defined benefit plans expected to be paid during the next ten years are as follows: