| Compensation and Retirement Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Net Benefit Costs | The pension and postretirement expenses related to the Company’s plans consisted of the following:
| | | | | | | | | | | | | | | | | | | | | Pension Benefits | Postretirement Benefits | | Year Ended December 31, | In millions | 2016 | 2015 | 2014 | 2016 | 2015 | 2014 | Components of Net Periodic Cost: | | | | | | | Service Cost | $ | 10.0 |
| $ | 12.8 |
| $ | 12.6 |
| $ | 0.8 |
| $ | 1.0 |
| $ | 1.2 |
| Interest Cost | 43.8 |
| 54.8 |
| 57.9 |
| 1.3 |
| 1.7 |
| 2.2 |
| Expected Return on Plan Assets | (61.3 | ) | (74.4 | ) | (79.8 | ) | — |
| — |
| — |
| Amortization: | | | | | | | Prior Service Cost (Credit) | 0.8 |
| 0.7 |
| 0.7 |
| (0.2 | ) | (0.3 | ) | (0.3 | ) | Actuarial Loss (Gain) | 27.3 |
| 19.7 |
| 13.2 |
| (2.1 | ) | (1.6 | ) | (1.0 | ) | Net Curtailment/Settlement Loss | 1.0 |
| 1.5 |
| 0.8 |
| — |
| — |
| — |
| Other | 0.8 |
| 0.9 |
| 0.6 |
| — |
| — |
| — |
| Net Periodic Cost | $ | 22.4 |
| $ | 16.0 |
| $ | 6.0 |
| $ | (0.2 | ) | $ | 0.8 |
| $ | 2.1 |
|
|
Schedule of Assumptions Used | Certain assumptions used in determining the pension and postretirement expenses were as follows:
| | | | | | | | | | | | | | | Pension Benefits | Postretirement Benefits | | Year Ended December 31, | | 2016 | 2015 | 2014 | 2016 | 2015 | 2014 | Weighted Average Assumptions: | | | | | | | Discount Rate | 4.41 | % | 4.02 | % | 4.86 | % | 4.29 | % | 3.95 | % | 4.74 | % | Rate of Increase in Future Compensation Levels | 1.49 | % | 1.45 | % | 1.88 | % | — |
| — |
| — |
| Expected Long-Term Rate of Return on Plan Assets | 5.90 | % | 6.81 | % | 7.69 | % | — |
| — |
| — |
| Initial Health Care Cost Trend Rate | — |
| — |
| — |
| 7.80 | % | 7.38 | % | 7.50 | % | Ultimate Health Care Cost Trend Rate | — |
| — |
| — |
| 4.50 | % | 4.96 | % | 4.77 | % | Ultimate Year | — |
| — |
| — |
| 2024 |
| 2036 |
| 2027 |
|
|
Schedule of Net Funded Status | The following table sets forth the funded status of the Company’s pension and postretirement plans as of December 31: | | | | | | | | | | | | | | | Pension Benefits | Postretirement Benefits | In millions | 2016 | 2015 | 2016 | 2015 | Change in Benefit Obligation: | | | | | Benefit Obligation at Beginning of Year | $ | 1,239.0 |
| $ | 1,366.7 |
| $ | 40.8 |
| $ | 43.6 |
| Service Cost | 10.0 |
| 12.8 |
| 0.8 |
| 1.0 |
| Interest Cost | 43.8 |
| 54.8 |
| 1.3 |
| 1.7 |
| Actuarial Loss (Gain) | 79.3 |
| (84.3 | ) | (0.7 | ) | (5.4 | ) | Foreign Currency Exchange | (36.0 | ) | (16.9 | ) | 0.1 |
| (0.2 | ) | Settlement/Curtailment (Gain) | (0.9 | ) | (0.4 | ) | 0.3 |
| — |
| Settlements | (2.9 | ) | (61.1 | ) | — |
| — |
| Benefits Paid | (58.4 | ) | (55.9 | ) | (2.1 | ) | (2.8 | ) | Acquisition | 4.1 |
| 22.4 |
| — |
| 2.9 |
| Other | 1.0 |
| 0.9 |
| 0.1 |
| — |
| Benefit Obligation at End of Year | $ | 1,279.0 |
| $ | 1,239.0 |
| $ | 40.6 |
| $ | 40.8 |
| | | | | | Change in Plan Assets: | | | | | Fair Value of Plan Assets at Beginning of Year | $ | 1,038.9 |
| $ | 1,092.8 |
| $ | — |
| $ | — |
| Actual Return on Plan Assets | 116.3 |
| 3.0 |
| — |
| — |
| Employer Contributions | 51.4 |
| 53.4 |
| 2.1 |
| 2.8 |
| Foreign Currency Exchange | (34.6 | ) | (15.2 | ) | — |
| — |
| Benefits Paid | (58.4 | ) | (55.9 | ) | (2.1 | ) | (2.8 | ) | Acquisition | 4.8 |
| 21.7 |
| — |
| — |
| Settlements | (2.9 | ) | (61.1 | ) | — |
| — |
| Other | 0.1 |
| 0.2 |
| — |
| — |
| Fair Value of Plan Assets at End of Year | $ | 1,115.6 |
| $ | 1,038.9 |
| $ | — |
| $ | — |
| Plan Assets Less than Projected Benefit Obligation | $ | (163.4 | ) | $ | (200.1 | ) | $ | (40.6 | ) | $ | (40.8 | ) | | | | | | Amounts Recognized in the Consolidated Balance Sheets Consist of: | | | | | Pension Assets | $ | 3.0 |
| $ | 10.4 |
| $ | — |
| $ | — |
| Accrued Pension and Postretirement Benefits Liability — Current | $ | (1.7 | ) | $ | (1.2 | ) | $ | (2.8 | ) | $ | (2.8 | ) | Accrued Pension and Postretirement Benefits Liability — Noncurrent | $ | (164.7 | ) | $ | (209.3 | ) | $ | (37.8 | ) | $ | (38.0 | ) | Accumulated Other Comprehensive Income: | | | | | Net Actuarial Loss (Gain) | $ | 277.8 |
| $ | 286.6 |
| $ | (18.7 | ) | $ | (20.1 | ) | Prior Service Cost (Credit) | $ | 1.3 |
| $ | 2.3 |
| $ | (1.1 | ) | $ | (1.6 | ) | Weighted Average Calculations: | | | | | Discount Rate | 4.01 | % | 4.41 | % | 4.10 | % | 4.29 | % | Rates of Increase in Future Compensation Levels | 1.45 | % | 1.49 | % | — |
| — |
| Initial Health Care Cost Trend Rate | — |
| — |
| 7.45 | % | 7.80 | % | Ultimate Health Care Cost Trend Rate | — |
| — |
| 4.50 | % | 4.50 | % | Ultimate Year | — |
| — |
| 2024 |
| 2024 |
|
|
Schedule of Allocation of Plan Assets | The weighted average allocation of plan assets and the target allocation by asset category is as follows: | | | | | | | | | Target | 2016 | 2015 | Cash | — | % | 1.3 | % | 1.1 | % | Equity Securities | 46.6 |
| 40.0 |
| 51.7 |
| Fixed Income Securities | 53.4 |
| 53.9 |
| 41.6 |
| Other Investments | — |
| 4.8 |
| 5.6 |
| Total | 100.0 | % | 100.0 | % | 100.0 | % |
|
Schedule of Fair Value of Plan Assets | The following tables set forth, by category and within the fair value hierarchy, the fair value of the Company’s pension assets at December 31, 2016 and 2015:
| | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2016 | In millions | Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Asset Category: | | | | | Cash (a) | $ | 14.5 |
| $ | 0.3 |
| $ | 14.2 |
| $ | — |
| Equity Securities: | | | | | Domestic (a) | 340.2 |
| 68.7 |
| 271.5 |
| — |
| Foreign (a) | 107.0 |
| 55.5 |
| 51.5 |
| — |
| Fixed Income Securities (a) | 600.8 |
| 194.6 |
| 406.2 |
| — |
| Other Investments: | | | | | Real estate (a) | 14.8 |
| 14.8 |
| — |
| — |
| Diversified growth fund (b) | 38.3 |
| — |
| 38.3 |
| — |
| Total | $ | 1,115.6 |
| $ | 333.9 |
| $ | 781.7 |
| $ | — |
|
| | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2015 | In millions | Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Asset Category: | | | | | Cash (a) | $ | 11.4 |
| $ | 5.0 |
| $ | 6.4 |
| $ | — |
| Equity Securities: | | | | | Domestic (a) | 397.1 |
| 79.8 |
| 317.3 |
| — |
| Foreign (a) | 140.1 |
| 63.5 |
| 76.6 |
| — |
| Fixed Income Securities (a) | 431.8 |
| 172.9 |
| 258.9 |
| — |
| Other Investments: | | | | | Real estate (a) | 22.6 |
| 22.6 |
| — |
| — |
| Diversified growth fund (b) | 35.9 |
| — |
| — |
| 35.9 |
| Total | $ | 1,038.9 |
| $ | 343.8 |
| $ | 659.2 |
| $ | 35.9 |
|
(a) The Level 2 investments are held in pooled funds and fair value is determined by net asset value, based on the underlying investments, as reported on the valuation date. (b) The fund invests in a combination of traditional investments (equities, bonds, and foreign exchange), seeking to achieve returns through active asset allocation over a three to five year horizon. |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | A reconciliation of fair value measurements of plan assets using significant unobservable inputs (Level 3) is as follows:
| | | | | | | | | | In millions | 2016 | 2015 | Balance Beginning of Period | $ | 35.9 |
| $ | — |
| Transfers (Out) In | (35.9 | ) | 35.8 |
| Return on Assets Held at December 31 | — |
| 0.1 |
| Balance at December 31, | $ | — |
| $ | 35.9 |
|
|
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | A one-percentage-point change in assumed health care cost trend rates would have the following effects on 2016 data:
| | | | | | | | | One Percentage Point | In millions | Increase | Decrease | Health Care Cost Trend Rate Sensitivity: | | | Effect on Total Interest and Service Cost Components | $ | 0.2 |
| $ | (0.2 | ) | Effect on Year-End Postretirement Benefit Obligation | $ | 1.8 |
| $ | (1.6 | ) |
|
Schedule of Expected Benefit Payments | The following represents the Company’s estimated future pension and postretirement health care benefit payments through the year 2026:
| | | | | | | | In millions | Pension Plans | Postretirement Health Care Benefits | 2017 | $ | 64.7 |
| $ | 2.8 |
| 2018 | 67.4 |
| 3.0 |
| 2019 | 69.6 |
| 3.1 |
| 2020 | 72.0 |
| 3.4 |
| 2021 | 74.2 |
| 3.3 |
| 2022— 2026 | 394.6 |
| 15.8 |
|
|
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | During 2017, amounts recorded in Accumulated Other Comprehensive Loss expected to be recognized in Net Periodic Benefit Costs are as follows:
| | | | | | | | In millions | Pension Benefits | Postretirement Health Care Benefits | Recognition of Prior Service Cost | $ | 0.5 |
| $ | (0.3 | ) | Recognition of Actuarial Loss (Gain) | 6.8 |
| (2.1 | ) |
|
Schedule of Multiemployer Plans | The Company's participation in these plans for the year ended December 31, 2016, 2015 and 2014 is shown in the table below: | | | | | | | | | | | | | | | | | | | Pension Protection Act Zone Status | | Company Contributions (in millions) | | | Multi-employer Pension Fund | EIN/Pension Plan Number | 2016 | 2015 | FIP/RP Status Implemented | 2016 | 2015 | 2014 | Surcharged Imposed | Expiration Date of Bargaining Agreement | Central States Southeast and Southwest Areas Pension Fund | 36-6044243/001 | Red | Red | Yes | $ | 0.1 |
| $ | 0.1 |
| $ | 0.1 |
| Yes | 7/31/2018 | PIUMPF (1)(2) | 11-6166763/001 | Red | Red | Yes | 0.1 |
| — |
| 0.3 |
| Yes | 6/16/2018 | Western Conference of Teamsters Pension Trust - Northwest Area(3) | 91-6145047/001
| Green | Green | No | — |
| 0.1 |
| 0.1 |
| No | 4/30/2017 | Graphic Communications Conference of International Brotherhood of Teamster Pension Fund(2) | 52-6118568/001 | Red | Red | Yes | 0.2 |
| — |
| — |
| Yes | 4/30/2016 | Total | | | | | $ | 0.4 |
| $ | 0.2 |
| $ | 0.5 |
| | |
(1) The facility associated with this plan was divested on June 30, 2014. (2) In 2016, the WG Anderson acquisition included facilities with these plans. (3) The facility associated with this plan was closed in 2016. |