Pension Plans

3 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

Pension Plans

Note 6 – Pension Plans

The Company uses a December 31 measurement date for the Preformed Line Products Company Employees’ Retirement Plan (the “U.S. Plan”). Net periodic pension expense for the U.S. Plan for the three months ended March 31, 2024 and 2023, respectively, follows:

	Three Months Ended March 31,
	2024			2023
Interest cost	$	387		$	392
Expected return on plan assets		(485	)		(501	)
Recognized net actuarial loss		117			117
Net periodic pension expense	$	19		$	8

There were no contributions to the U.S. Plan during the three months ended March 31, 2024 and 2023. The Company is evaluating whether to make additional contributions to the U.S. Plan during 2024. In August 2023, the Board of Directors of the Company approved a resolution to terminate the U.S. Plan and preliminary administrative actions have been undertaken to proceed with the termination. Components of pension expense are included in Other income, net in the Consolidated Statements of Income.