Rendering

Component: (Network and Table)
Network
2317301 - Disclosure - Pension Plans and Other Benefits (Tables)
(http://www.mosaicco.com/role/PensionPlansAndOtherBenefitsTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
 
Schedule Of Defined Benefit Plans Disclosures
The year-end status of the North American pension plans was as follows:
 
Pension Plans
 
Years Ended December 31,
(in millions)
2016
 
2015
Change in projected benefit obligation:
 
 
 
Benefit obligation at beginning of period
$
731.2

 
$
828.4

Service cost
5.8

 
6.5

Interest cost
25.1

 
30.1

Actuarial (gain) loss
16.0

 
(20.1
)
Currency fluctuations
9.7

 
(58.1
)
Benefits paid
(84.9
)
 
(56.2
)
Plan Amendments
10.6

 

Liability loss due to curtailment/settlement

 
0.6

Projected benefit obligation at end of period
$
713.5

 
$
731.2

Change in plan assets:
 
 
 
Fair value at beginning of period
$
726.7

 
$
812.1

Currency fluctuations
10.1

 
(57.6
)
Actual return
52.2

 
15.5

Company contribution
11.5

 
12.9

Benefits paid
(84.9
)
 
(56.2
)
Fair value at end of period
$
715.6

 
$
726.7

Funded/(unfunded) status of the plans as of the end of period
$
2.1

 
$
(4.5
)
Amounts recognized in the consolidated balance sheets:
 
 
 
Noncurrent assets
$
24.8

 
$
23.5

Current liabilities
(0.7
)
 
(0.7
)
Noncurrent liabilities
(22.0
)
 
(27.3
)
Amounts recognized in accumulated other comprehensive (income) loss
 
 
 
Prior service costs (credits)
$
23.2

 
$
13.9

Actuarial (gain) loss
109.6

 
110.1

 
 
Schedule Of Net Benefit Costs
The components of net annual periodic benefit costs and other amounts recognized in other comprehensive income include the following components:
 
 
Pension Plans
(in millions)
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
Net Periodic Benefit Cost
 
 
 
 
 
 
Service cost
 
$
5.8

 
$
6.5

 
$
6.3

Interest cost
 
25.1

 
30.1

 
32.8

Expected return on plan assets
 
(44.9
)
 
(46.9
)
 
(44.0
)
Amortization of:
 
 
 
 
 
 
Prior service cost (credit)
 
1.7

 
1.6

 
1.9

Actuarial loss
 
5.0

 
6.2

 
4.7

Preliminary net periodic benefit cost (income)
 
$
(7.3
)
 
$
(2.5
)
 
$
1.7

Curtailment/settlement expense
 
6.2

 
2.4

 
2.3

Special termination costs
 

 

 
5.4

Total net periodic benefit cost
 
$
(1.1
)
 
$
(0.1
)
 
$
9.4

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
 
 
 
 
 
 
Prior service cost (credit) recognized in other comprehensive income
 
$
8.9

 
$
(1.7
)
 
$
(1.9
)
Net actuarial loss (gain) recognized in other comprehensive income
 
(2.5
)
 
3.4

 
53.3

Total recognized in other comprehensive income
 
$
6.4

 
$
1.7

 
$
51.4

Total recognized in net periodic benefit (income) cost and other comprehensive income
 
$
5.3

 
$
1.6

 
$
60.8

 
 
Schedule Of Expected Benefit Payments
The following estimated benefit payments, which reflect estimated future service are expected to be paid by the related plans in the years ending December 31:
(in millions)
Pension Plans
Benefit Payments
 
Other Postretirement
Plans Benefit Payments
 
Medicare Part D
Adjustments
2017
$
39.8

 
$
4.5

 
$
0.3

2018
40.8

 
4.2

 
0.3

2019
41.9

 
3.9

 
0.2

2020
42.5

 
3.6

 
0.2

2021
43.4

 
3.3

 
0.2

2022-2026
221.9

 
13.2

 
0.7

 
 
Schedule of Allocation of Plan Assets
The following tables provide fair value measurement, by asset class, of the Company’s defined benefit plan assets for both the U.S. and Canadian plans:
(in millions)
 
December 31, 2016
Pension Plan Asset Category
 
Total
 
Level 1
 
Level 2
 
Level 3
Cash
 
$
10.7

 
$
10.7

 
$

 
$

Equity securities(a)
 
257.3

 

 
257.3

 

Fixed income(b)
 
443.5

 

 
443.5

 

Private equity funds
 
4.1

 

 

 
4.1

Total assets at fair value
 
$
715.6

 
$
10.7

 
$
700.8

 
$
4.1

 
 
 
 
 
 
 
 
 
(in millions)
 
December 31, 2015
Pension Plan Asset Category
 
Total
 
Level 1
 
Level 2
 
Level 3
Cash
 
$
9.2

 
$
9.2

 
$

 
$

Equity securities(a)
 
194.9

 

 
194.9

 

Fixed income(b)
 
514.9

 

 
514.9

 

Private equity funds
 
7.7

 

 

 
7.7

Total assets at fair value
 
$
726.7

 
$
9.2

 
$
709.8

 
$
7.7

______________________________
(a)
This class, which includes several funds, was invested approximately 44% in U.S. equity securities, 30% in Canadian equity securities, and 26% in international equity securities as of December 31, 2016, and 41% in U.S. equity securities, 32% in Canadian equity securities, and 27% in international equity securities as of December 31, 2015.
(b)
This class, which includes several funds, was invested approximately 61% in corporate debt securities, 37% in governmental securities in the U.S. and Canada, and 2% in foreign entity debt securities as of December 31, 2016, and 61% in corporate debt securities, 35% in governmental securities in the U.S. and Canada, and 4% in foreign entity debt securities as of December 31, 2015.
 
 
Schedule of Assumptions Used
Weighted average assumptions used to determine benefit obligations were as follows:
 
Pension Plans
 
Years Ended December 31,
 
2016
 
2015
 
2014
Discount rate
3.97
%
 
4.17
%
 
3.95
%
Expected return on plan assets
5.54
%
 
5.66
%
 
6.15
%
Rate of compensation increase
3.50
%
 
3.50
%
 
3.50
%

Weighted-average assumptions used to determine net benefit cost were as follows:
 
Pension Plans
 
Years Ended December 31,
 
2016
 
2015
 
2014
Discount rate
4.17
%
 
3.95
%
 
4.75
%
Service cost discount rate (a)
4.19
%
 
n/a

 
n/a

Interest cost discount rate (a)
3.45
%
 
n/a

 
n/a

Expected return on plan assets
5.66
%
 
6.15
%
 
6.15
%
Rate of compensation increase
3.50
%
 
3.50
%
 
3.50
%