Retirement Benefits

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Retirement Benefits

Retirement Benefits

The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans as well as other post-retirement plans for its employees. The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans.

	Pension Benefits
	Three Months Ended March 31,
	2022				2021
	U.S.		Non-U.S.		U.S.		Non-U.S.
Service cost	$	—	$	0.5	$	—	$	0.5
Interest cost	0.1		0.2		0.1		0.2
Expected return on plan assets	(0.1)		(0.3)		(0.2)		(0.2)
Net amortization	0.1		0.2		0.1		0.5
Net periodic (benefit) cost	$	0.1	$	0.6	$	—	$	1.0

	Other Postretirement Benefits
	Three Months Ended March 31,
	2022		2021
Service cost	$	0.2	$	0.2
Interest cost	0.1		0.1
Net amortization	(0.1)		(0.2)
Net periodic cost	$	0.2	$	0.1

The Company expects to contribute approximately $4.0 million to its defined benefit plans and $1.2 million to its other post-retirement benefit plans in 2022. During the first three months of 2022, the Company contributed a total of $1.3 million to fund these plans.

The IDEX Corporation Retirement Plan (“Plan”), a U.S. defined benefit plan, was terminated in May 2020. During the second quarter of 2021, the Company settled its remaining obligations under the Plan. As of March 31, 2022, the Company has $7.9 million of surplus assets from the Plan included in Other current assets on the Company’s Condensed Consolidated Balance Sheets that will be used to fund the Company’s other retirement benefit plans over the next twelve months.