XML 24 R13.htm IDEA: XBRL DOCUMENT v3.22.2.2
EMPLOYEE BENEFIT PLANS
9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Defined Benefit Plans - As of September 30, 2022, the Company maintained two domestic pension plans and three German pension plans. The Company used a December 31, 2021 measurement date for these plans. One of the Company's domestic pension plans covers one active management employee, while the other domestic plan covers all eligible employees. Both domestic plans were frozen as of December 31, 2011. The two domestic and three German plans collectively comprise the 'Pension Benefits' disclosure caption.

Other Benefits - The Company's other post-retirement benefit plan provides health and life insurance to domestic employees hired prior to 1992.

The following table sets forth the aggregated net periodic benefit cost for all pension plans for the third quarters and nine months ended September 30, 2022 and September 30, 2021:
(In millions)Pension Benefits
Third Quarter EndedNine Months Ended
 September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Service cost$0.1 $0.2 $0.5 $0.6 
Interest cost0.9 0.7 2.5 2.1 
Expected return on assets(1.7)(1.3)(4.7)(4.1)
Amortization of:
Prior service cost1.5 1.2 3.9 3.3 
Actuarial loss— — — — 
Settlement cost— — — — 
Net periodic benefit cost$0.8 $0.8 $2.2 $1.9 

In the nine months ended September 30, 2022, the Company made contributions of $0.1 million to the funded plans. The amount of contributions to be made to the plans during the calendar year 2022 will be finalized by September 15, 2022, based upon the funding level requirements identified and year-end valuation performed at December 31, 2021.

The following table sets forth the aggregated net periodic benefit cost for the other post-retirement benefit plan for the third quarters and nine months ended September 30, 2022 and September 30, 2021:
(In millions)Other Benefits
Third Quarter EndedNine Months Ended
September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Service cost$— $— $— $— 
Interest cost— 0.1 0.1 
Expected return on assets— — — — 
Amortization of:
Prior service cost0.1 — 0.1 0.1 
Actuarial loss— — — — 
Settlement cost— — — — 
Net periodic benefit cost$0.1 $— $0.2 $0.2