Pensions

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Pensions

PENSIONS

The following table summarizes the components of Net periodic pension benefit: 

	U.S. Benefit Plan								Non-U.S. Benefit Plan
	Three Months Ended June 30,				Six Months Ended June 30,				Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020		2021		2020		2021		2020
Service cost	$	—	$	—	$	—	$	—	$	—	$	—	$	0.1	$	0.1
Interest cost	1.2		1.4		2.4		2.8		0.1		0.2		0.3		0.5
Amortization of actuarial loss	0.9		0.8		1.9		1.6		0.2		0.1		0.4		0.2
Amortization of prior service cost	—		—		—		—		0.1		0.1		0.1		0.1
Expected return on plan assets	(2.4)		(2.3)		(4.8)		(4.6)		(0.5)		(0.4)		(1.0)		(0.9)
Net periodic pension benefit	$	(0.3)	$	(0.1)	$	(0.5)	$	(0.2)	$	(0.1)	$	—	$	(0.1)	$	—

The items that comprise Net periodic pension benefit, other than service cost, are included as a component of Other (income) expense, net on the Condensed Consolidated Statements of Operations.

In the six months ended June 30, 2021, the Company contributed $1.9 million to its U.S. defined benefit plan. The Company did not make any contributions to its U.S. defined benefit plan in the six months ended June 30, 2020. In the six months ended June 30, 2021 and 2020, the Company contributed $0.7 million and $0.6 million to its non-U.S. defined benefit plan, respectively.

During the remainder of 2021, the Company expects to make additional contributions of up to $0.5 million to the non-U.S. benefit plan.

Multi-Employer Pension Plans

During the second quarter of 2021, the Company withdrew from its only remaining multi-employer pension plan, the IAM National Pension Fund, recording a liability of $0.3 million as a component of Other current liabilities on the Condensed Consolidated Balance Sheet as of June 30, 2021. The related expense was included as a component of Other (income) expense, net on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2021.

During the three and six months ended June 30, 2020, the Company recorded expense of $2.5 million as a component of Other (income) expense, net on the Condensed Consolidated Statements of Operations in connection with its decision to withdraw from the Sheet Metal Workers’ National Pension Fund.