Retirement Benefits

9 Months Ended

Sep. 30, 2023

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 September 30,
	2023				2022
	U.S.		Non-U.S.		U.S.		Non-U.S.
Service cost	$	0.1	$	0.3	$	—	$	0.5
Interest cost	0.1		0.6		0.1		0.2
Expected return on plan assets	(0.1)		(0.4)		(0.1)		(0.4)
Net amortization	—		(0.1)		0.1		0.2
Net periodic cost	$	0.1	$	0.4	$	0.1	$	0.5

	Pension Benefits
	Nine Months Ended September 30,
	2023				2022
	U.S.		Non-U.S.		U.S.		Non-U.S.
Service cost	$	0.1	$	0.9	$	0.1	$	1.4
Interest cost	0.3		2.0		0.2		0.7
Expected return on plan assets	(0.2)		(1.2)		(0.2)		(1.0)
Net amortization	0.1		(0.4)		0.2		0.6
Net periodic cost	$	0.3	$	1.3	$	0.3	$	1.7

	Other Postretirement Benefits
	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Service cost	$	0.1	$	0.2	$	0.3	$	0.5
Interest cost	0.2		0.1		0.6		0.4
Net amortization	(0.2)		(0.1)		(0.7)		(0.3)
Net periodic cost	$	0.1	$	0.2	$	0.2	$	0.6

The Company recognizes the service cost component in both Cost of sales and Selling, general and administrative expenses in the Condensed Consolidated Statements of Income depending on the functional area of the underlying employees and the interest cost, expected return on plan assets and net amortization components in Other expense (income) - net in the Condensed Consolidated Statements of Income.

The Company expects to contribute approximately $3.9 million to its defined benefit plans and $1.1 million to its other post-retirement benefit plans in 2023. During the first nine months of 2023, the Company contributed a total of $3.9 million to fund these plans.