XML 30 R19.htm IDEA: XBRL DOCUMENT v3.22.2
Pension and Other Benefits
 6 Months Ended
Jun. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Pension and Other Benefits Pension and Other Benefits
 
The following table sets forth the components of net pension and other benefit costs for the three and six months ended June 30, 2022 and 2021 (in millions):
 Pension BenefitsOther Benefits
 2022202120222021
Three Months Ended June 30,    
Service cost$0.2 $0.3 $— $— 
Interest cost6.3 6.0 0.1 0.2 
Expected return on plan assets(8.2)(9.2)— — 
Amortization of prior service cost0.1 0.1 — — 
Amortization of actuarial losses (gains)2.6 2.7 (0.1)— 
Settlement losses5.8 — — — 
NET PERIODIC BENEFIT COST$6.8 $(0.1)$— $0.2 
Six Months Ended June 30,
Service cost$0.4 $0.5 $— $— 
Interest cost12.6 12.0 0.2 0.3 
Expected return on plan assets(16.4)(18.3)— — 
Amortization of prior service cost0.2 0.1 — — 
Amortization of actuarial losses (gains)5.2 5.4 (0.2)— 
Settlement losses5.8 — — — 
NET PERIODIC BENEFIT COST$7.8 $(0.3)$— $0.3 

In the second quarter of 2022, the Company recorded $4.4 million of settlement losses in continuing operations and $1.4 million of settlement losses in discontinued operations relating to retirees that elected to receive lump-sum distributions from the Company's defined benefit pension plans. This charge was the result of lump-sum payments which exceeded the threshold for settlement accounting under U.S. GAAP for the year.

Employer Contributions
 
The Company made $2.5 million in contributions to its foreign pension plans during the six months ended June 30, 2022. Although not required by ERISA and the Internal Revenue Code, the Company may elect to make a voluntary contribution to its qualified domestic defined benefit pension plan in 2022.