BENEFIT PLANS
We sponsor defined benefit pension plans and defined contribution plans. For additional information about our benefit plans, see Note 11 of the Notes to Consolidated Financial Statements in our 2015 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, 2016 and 2015:
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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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2016 |
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2015 |
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2016 |
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2015 |
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(In millions) |
Service cost |
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$ |
0.9 |
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$ |
1.1 |
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$ |
0.1 |
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$ |
0.1 |
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Interest cost |
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8.0 |
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7.7 |
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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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(9.6 |
) |
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(10.1 |
) |
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(0.3 |
) |
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(0.4 |
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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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3.5 |
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4.0 |
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0.2 |
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0.1 |
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Total net periodic benefit cost |
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$ |
3.0 |
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$ |
2.9 |
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$ |
(0.1 |
) |
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$ |
(0.3 |
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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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2016 |
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2015 |
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2016 |
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2015 |
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(In millions) |
Service cost |
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$ |
2.7 |
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$ |
3.3 |
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$ |
0.3 |
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$ |
0.3 |
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Interest cost |
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24.0 |
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23.1 |
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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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(28.8 |
) |
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(30.1 |
) |
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(0.9 |
) |
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(1.2 |
) |
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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10.5 |
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12.0 |
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0.6 |
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0.3 |
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Total net periodic benefit cost |
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$ |
9.0 |
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$ |
8.9 |
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$ |
(0.3 |
) |
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$ |
(0.9 |
) |
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