Retirement Benefits

6 Months Ended

Jun. 30, 2024

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 postretirement plans for its employees. The following tables provide the components of net periodic cost for its major defined benefit plans and its other postretirement plans.

	Pension Benefits
	Three Months Ended June 30,
	2024				2023
	U.S.		Non-U.S.		U.S.		Non-U.S.
Service cost	$	—	$	0.4	$	—	$	0.3
Interest cost	0.1		0.7		0.1		0.7
Expected return on plan assets	—		(0.5)		—		(0.4)
Net amortization	0.1		(0.1)		—		(0.1)
Net periodic cost	$	0.2	$	0.5	$	0.1	$	0.5

	Pension Benefits
	Six Months Ended June 30,
	2024				2023
	U.S.		Non-U.S.		U.S.		Non-U.S.
Service cost	$	—	$	0.8	$	—	$	0.6
Interest cost	0.2		1.3		0.2		1.4
Expected return on plan assets	(0.1)		(0.9)		(0.1)		(0.8)
Net amortization	0.2		(0.1)		0.1		(0.3)
Net periodic cost	$	0.3	$	1.1	$	0.2	$	0.9

	Other Postretirement Benefits
	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Service cost	$	0.1	$	0.1	$	0.2	$	0.2
Interest cost	0.2		0.2		0.4		0.4
Net amortization	(0.3)		(0.3)		(0.5)		(0.5)
Net periodic cost	$	—	$	—	$	0.1	$	0.1

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 $3.6 million to its defined benefit plans and $1.1 million to its other postretirement benefit plans in 2024. The Company contributed a total of $2.4 million and $2.6 million to fund these plans during the six months ended June 30, 2024 and 2023, respectively.