Annual report pursuant to Section 13 and 15(d)

PENSIONS AND OTHER POSTRETIREMENT BENEFITS PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Defined Benefit Plan Disclosures) (Tables)

v2.4.0.8
PENSIONS AND OTHER POSTRETIREMENT BENEFITS PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Defined Benefit Plan Disclosures) (Tables)
 12 Months Ended
Dec. 31, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Obligations and Funded Status
The following tables and information provide additional disclosures for the December 31, 2013 and 2012:
 
(In Millions)
 
Pension Benefits
 
Other Benefits
Change in benefit obligations:
2013
 
2012
 
2013
 
2012
Benefit obligations — beginning of year
$
1,244.3

 
$
1,141.4

 
$
459.8

 
$
488.4

Service cost (excluding expenses)
38.9

 
32.0

 
12.3

 
14.7

Interest cost
45.9

 
48.4

 
17.3

 
20.6

Plan amendments
0.8

 
2.8

 
—

 
(58.3
)
Actuarial (gain) loss
(121.8
)
 
84.3

 
(103.3
)
 
11.3

Benefits paid
(72.9
)
 
(71.0
)
 
(28.0
)
 
(26.9
)
Participant contributions
—

 
—

 
5.6

 
4.6

Federal subsidy on benefits paid
—

 
—

 
0.5

 
0.8

Exchange rate (gain) loss
(17.2
)
 
6.4

 
(8.0
)
 
4.6

Benefit obligations — end of year
$
1,118.0

 
$
1,244.3

 
$
356.2

 
$
459.8

 
 
 
 
 
 
 
 
Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets — beginning of year
$
838.7

 
$
744.1

 
$
237.0

 
$
193.5

Actual return on plan assets
109.5

 
92.5

 
11.0

 
26.1

Participant contributions
—

 
—

 
1.8

 
1.7

Employer contributions
53.7

 
67.7

 
20.7

 
23.3

Benefits paid
(72.9
)
 
(71.0
)
 
(18.7
)
 
(7.6
)
Exchange rate gain (loss)
(13.7
)
 
5.4

 
—

 
—

Fair value of plan assets — end of year
$
915.3

 
$
838.7

 
$
251.8

 
$
237.0

 
 
 
 
 
 
 
 
Funded status at December 31:
 
 
 
 
 
 
 
Fair value of plan assets
$
915.3

 
$
838.7

 
$
251.8

 
$
237.0

Benefit obligations
(1,118.0
)
 
(1,244.3
)
 
(356.2
)
 
(459.8
)
Funded status (plan assets less benefit obligations)
$
(202.7
)
 
$
(405.6
)
 
$
(104.4
)
 
$
(222.8
)
Amount recognized at December 31
$
(202.7
)
 
$
(405.6
)
 
$
(104.4
)
 
$
(222.8
)
 
 
 
 
 
 
 
 
Amounts recognized in Statements of Financial Position:
 
 
 
 
 
 
 
Current liabilities
$
(5.2
)
 
$
(1.8
)
 
$
(7.9
)
 
$
(8.3
)
Noncurrent liabilities
(197.5
)
 
(403.8
)
 
(96.5
)
 
(214.5
)
Net amount recognized
$
(202.7
)
 
$
(405.6
)
 
$
(104.4
)
 
$
(222.8
)
 
 
 
 
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 
 
 
 
 
 
 
Net actuarial loss
$
230.6

 
$
429.2

 
$
67.0

 
$
176.8

Prior service cost
14.9

 
17.2

 
(45.4
)
 
(48.8
)
Transition asset
—

 
—

 
—

 
—

Net amount recognized
$
245.5

 
$
446.4

 
$
21.6

 
$
128.0

 
 
 
 
 
 
 
 
The estimated amounts that will be amortized from accumulated
other comprehensive income into net periodic benefit cost in 2014:
 
 
 
 
 
 
 
Net actuarial loss
$
14.2

 
 
 
$
4.6

 
 
Prior service cost
2.7

 
 
 
(3.6
)
 
 
Net amount recognized
$
16.9

 
 
 
$
1.0