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Quarterly report pursuant to Section 13 or 15(d)

PENSIONS AND OTHER POSTRETIREMENT BENEFITS

v2.4.0.8
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
 6 Months Ended
Jun. 30, 2014
Postemployment Benefits [Abstract] Ìý
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
NOTE 11 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS
The following are the components of defined benefit pension and OPEB expense for the three and six months ended JuneÌý30, 2014 and 2013:
Defined Benefit Pension Expense
Ìý
(In Millions)
Ìý
Three Months Ended
June 30,
Ìý
Six Months Ended
June 30,
Ìý
2014
Ìý
2013
Ìý
2014
Ìý
2013
Service cost
$
7.9

Ìý
$
9.7

Ìý
$
15.9

Ìý
$
19.6

Interest cost
12.5

Ìý
11.7

Ìý
25.0

Ìý
23.2

Expected return on plan assets
(18.0
)
Ìý
(20.0
)
Ìý
(36.0
)
Ìý
(33.1
)
Amortization:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Prior service costs
6.5

Ìý
0.8

Ìý
7.2

Ìý
1.5

Net actuarial (gain) loss
(2.3
)
Ìý
8.2

Ìý
1.3

Ìý
15.0

ÌýÌýÌýÌýCurtailments/settlements
$
0.9

Ìý
$
—

Ìý
1.2

Ìý
—

Net periodic benefit cost
$
7.5

Ìý
$
10.4

Ìý
$
14.6

Ìý
$
26.2


Other Postretirement Benefits Expense
Ìý
(In Millions)
Ìý
Three Months Ended
June 30,
Ìý
Six Months Ended
June 30,
Ìý
2014
Ìý
2013
Ìý
2014
Ìý
2013
Service cost
$
2.0

Ìý
$
3.1

Ìý
$
4.0

Ìý
$
6.2

Interest cost
4.1

Ìý
4.4

Ìý
8.1

Ìý
8.7

Expected return on plan assets
(4.3
)
Ìý
(5.0
)
Ìý
(8.6
)
Ìý
(10.0
)
Amortization:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Prior service costs
(0.9
)
Ìý
(0.9
)
Ìý
(1.8
)
Ìý
(1.8
)
Net actuarial loss
1.1

Ìý
3.0

Ìý
2.3

Ìý
5.8

Net periodic benefit cost
$
2.0

Ìý
$
4.6

Ìý
$
4.0

Ìý
$
8.9


We made pension contributions of $10.4 million and $14.6 million for the three and six months ended JuneÌý30, 2014, respectively, compared to pension contributions of $11.4 million and $15.1 million for the three and six months ended JuneÌý30, 2013, respectively. OPEB contributions are typically made on an annual basis in the first quarter of each year, but due to plan funding requirements being met, no OPEB contributions were required or made for the six months ended JuneÌý30, 2014. OPEB contributions were $14.1 million for the six months ended JuneÌý30, 2013.