Retirement benefits

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Retirement benefits

Retirement benefits

Pension plans

We have various defined-benefit pension plans covering eligible current and former employees.  Benefits under most plans are based on salary and years of service.

The components of net periodic pension cost for our pension plans were as follows:

	U.S. Plans			Non-U.S. Plans		Total
(In millions)	2022		2021	2022	2021	2022	2021
Three months ended June 30,
Service cost	$	—	—	2.0	2.5	2.0	2.5
Interest cost on projected benefit obligation	5.7		5.3	3.3	3.1	9.0	8.4
Return on assets – expected	(12.3)		(11.9)	(3.4)	(3.1)	(15.7)	(15.0)
Amortization of losses	6.3		8.6	0.5	1.7	6.8	10.3
Amortization of prior service credit	—		—	—	(0.1)	—	(0.1)
Curtailment gain	—		—	—	(0.6)	—	(0.6)
Settlement loss	—		—	0.1	0.3	0.1	0.3
Net periodic pension cost	$	(0.3)	2.0	2.5	3.8	2.2	5.8
Six months ended June 30,
Service cost	$	—	—	4.1	4.7	4.1	4.7
Interest cost on projected benefit obligation	11.4		10.6	6.6	6.0	18.0	16.6
Return on assets – expected	(24.4)		(23.7)	(6.3)	(6.2)	(30.7)	(29.9)
Amortization of losses	12.1		17.0	1.0	3.3	13.1	20.3
Amortization of prior service cost	—		—	—	(0.1)	—	(0.1)
Curtailment gain	—		—	—	(0.6)	—	(0.6)
Settlement loss	—		—	0.5	0.7	0.5	0.7
Net periodic pension cost	$	(0.9)	3.9	5.9	7.8	5.0	11.7

We did not make cash contributions to the primary U.S. pension plan in 2021 or the first six months of 2022. Based on current assumptions described in our Annual Report on Form 10-K for the year ended December 31, 2021, we do not expect to make contributions to the primary U.S. pension plan in the foreseeable future.

Retirement benefits other than pensions

We provide retirement healthcare benefits for eligible current and former U.S., Canadian, and Brazilian employees. Retirement benefits related to our former U.S. coal operations include medical benefits provided by the Pittston Coal Group Companies Employee Benefit Plan for United Mine Workers of America Represented Employees (the “UMWA plans”) as well as costs related to Black Lung obligations.

The components of net periodic postretirement cost related to retirement benefits other than pensions were as follows:

	UMWA Plans			Black Lung and Other Plans		Total
(In millions)	2022		2021	2022	2021	2022	2021
Three months ended June 30,
Service cost	$	—	—	0.1	0.1	0.1	0.1
Interest cost on accumulated postretirement benefit obligations	2.6		2.4	0.9	0.8	3.5	3.2
Return on assets – expected	(3.3)		(3.0)	—	—	(3.3)	(3.0)
Amortization of losses	2.2		4.2	1.8	2.3	4.0	6.5
Amortization of prior service cost	(1.1)		(1.1)	(0.1)	(0.2)	(1.2)	(1.3)
Net periodic postretirement cost	$	0.4	2.5	2.7	3.0	3.1	5.5
Six months ended June 30,
Service cost	$	—	—	0.1	0.1	0.1	0.1
Interest cost on accumulated postretirement benefit obligations	5.3		4.9	1.8	1.6	7.1	6.5
Return on assets – expected	(6.6)		(6.1)	—	—	(6.6)	(6.1)
Amortization of losses	5.3		9.0	3.7	4.4	9.0	13.4
Amortization of prior service cost	(2.3)		(2.3)	(0.1)	(0.2)	(2.4)	(2.5)
Net periodic postretirement cost	$	1.7	5.5	5.5	5.9	7.2	11.4

The components of net periodic pension cost and net periodic postretirement cost other than the service cost component are included in interest and other nonoperating income (expense) in the condensed consolidated statements of operations.