Quarterly report pursuant to Section 13 or 15(d)

Postretirement Benefits

v3.8.0.1
Postretirement Benefits
 9 Months Ended
Sep. 30, 2017
Defined Benefit Plan [Abstract]  
Pension and Other Postretirement Benefits
Postretirement Benefits

The Company has defined contribution plans, qualified and nonqualified defined benefit pension plans and other postretirement benefit plans covering substantially all of its employees. The Company's contributions to its defined contribution plans include matching and annual discretionary contributions which are based on various percentages of compensation, and in some instances are based on the amount of the employees' contributions to the plans. See Note 17 in the Notes to Consolidated Financial Statements in the 2016 Form 10-K for further details regarding these plans.
 
Pension and other postretirement benefit costs included the following components for the three months and nine months ended September 30, 2017 and October 1, 2016:
 
Pension Benefits
 
Other Postretirement Benefits
 
Three Months Ended
 
Nine Months Ended
 
Three Months Ended
 
Nine Months Ended
(in millions)
Sep 30,
2017
 
Oct 1,
2016
 
Sep 30,
2017
 
Oct 1,
2016
 
Sep 30,
2017
 
Oct 1,
2016
 
Sep 30,
2017
 
Oct 1,
2016
Interest cost
$
7.0

 
$
8.9

 
$
21.2

 
$
26.8

 
$
0.3

 
$
0.4

 
$
1.0

 
$
1.1

Expected return on plan assets
(8.3
)
 
(9.6
)
 
(25.0
)
 
(28.8
)
 
—

 
—

 
—

 
—

Amortization of prior service credits
—

 
—

 
—

 
—

 
(0.1
)
 
(0.1
)
 
(0.5
)
 
(0.4
)
Amortization of net actuarial losses
3.6

 
4.3

 
10.8

 
13.0

 
—

 
—

 
—

 
—

Net pension and other benefit costs
$
2.3

 
$
3.6

 
$
7.0

 
$
11.0

 
$
0.2

 
$
0.3

 
$
0.5

 
$
0.7



Portions of Net pension and other benefit costs are recorded in Cost of sales as well as Selling, general and administrative expenses in the Condensed Consolidated Statements of Comprehensive Income.

Employer Contributions and Benefit Payments. During the nine months ended September 30, 2017 and October 1, 2016, the Company contributed $55.0 million and $70.0 million, respectively, to its qualified pension plans. Company contributions are subject to change based on funding regulations and Company discretion. During the nine months ended September 30, 2017 and October 1, 2016, the Company contributed $3.1 million and $2.7 million, respectively, to fund benefit payments to its nonqualified pension plan.