Retirement Plans

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Retirement Plans

Note 9 — Retirement Plans

Pension Plans

Effective January 1, 2010, the U.S. pension plan was amended to exclude new hires and rehires from participating in the plan. In addition, we eliminated benefit accruals under the U.S. plan as of January 1, 2011, thus “freezing” the defined benefit pension plan. Under the plan freeze, no pay credits were made to a participant’s account balance after December 31, 2010. However, interest credits will continue in accordance with the annual update process.

During the three months ended March 31, 2019, the Company did not make any contributions to our U.S. pension plan. The Company was notified by the PBGC on April 16, 2019 that the Company’s application for termination of the GlassBridge Enterprises Cash Balance Pension Plan was approved by the Pension Benefit Guaranty Corporation with a termination date of April 30, 2019. The termination will relieve the Company of the funding requirements of the Plan. See Note 15 – Subsequent Events for additional information.

Components of net periodic pension (credit) cost included the following:

	United States
	Three Months Ended March 31,
(In millions)	2019			2018
Interest cost	$	0.6		$	0.5
Expected return on plan assets		(0.7	)		(0.8	)
Amortization of net actuarial loss		0.1			0.1
Net periodic pension credit		—			(0.2	)
Settlement loss		—			—
Total pension (credit) cost	$	—		$	(0.2	)

Germany was the Company’s only remaining international plan. In connection with the Subsidiary Sale, the Company no longer has any international plans