BENEFIT PLANS
We sponsor defined benefit pension plans and defined contribution plans. For additional information about our benefit plans, see Note 10 of the Notes to Consolidated Financial Statements in our 2016 Form 10-K.
The following table provides the components of net periodic benefit cost, included in selling, general and administrative expenses in the Consolidated Statements of Income, for the three and nine months ended September 30, 2017 and 2016:
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Pension Benefits |
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Other Benefits |
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Three Months Ended September 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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(In millions) |
Service cost |
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$ |
1.0 |
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$ |
0.9 |
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$ |
0.1 |
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$ |
0.1 |
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Interest cost |
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7.1 |
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8.0 |
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0.2 |
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0.2 |
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Expected return on plan assets |
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(9.3 |
) |
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(9.6 |
) |
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(0.3 |
) |
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(0.3 |
) |
Amortization of prior service cost |
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0.2 |
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0.2 |
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(0.3 |
) |
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(0.3 |
) |
Recognized actuarial loss |
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3.8 |
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3.5 |
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0.4 |
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0.2 |
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Total net periodic benefit cost |
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$ |
2.8 |
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$ |
3.0 |
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$ |
0.1 |
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$ |
(0.1 |
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Pension Benefits |
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Other Benefits |
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Nine months ended September 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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(In millions) |
Service cost |
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$ |
3.0 |
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$ |
2.7 |
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$ |
0.3 |
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$ |
0.3 |
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Interest cost |
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21.3 |
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24.0 |
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0.6 |
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0.6 |
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Expected return on plan assets |
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(27.9 |
) |
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(28.8 |
) |
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(0.9 |
) |
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(0.9 |
) |
Amortization of prior service cost |
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0.6 |
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0.6 |
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(0.9 |
) |
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(0.9 |
) |
Recognized actuarial loss |
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11.4 |
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10.5 |
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1.2 |
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0.6 |
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Total net periodic benefit cost |
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$ |
8.4 |
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$ |
9.0 |
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$ |
0.3 |
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$ |
(0.3 |
) |
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