Pension and Other Postretirement Benefit Plans (Tables)

9 Months Ended

Oct. 02, 2021

Net Periodic Pension and Other Postretirement Benefit (Credit) Cost

The components of the Company’s net periodic pension benefit (credit) cost are shown below (in millions):


	Three Months Ended								Nine Months Ended
	October 2, 2021				October 3, 2020				October 2, 2021				October 3, 2020
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Service cost	$	—	$	1.2	$	0.1	$	1.2	$	—	$	3.9	$	0.1	$	3.6
Interest cost	3.7		2.6		4.1		3.1		10.9		7.9		12.3		9.2
Expected return on plan assets	(5.9)		(4.9)		(5.4)		(4.9)		(17.7)		(14.7)		(16.0)		(14.8)
Amortization of actuarial loss	1.0		1.5		0.6		1.2		2.9		4.6		1.7		3.5


Settlement loss	—		—		—		10.2		0.4		—		0.3		10.2
Net periodic benefit (credit) cost	$	(1.2)	$	0.4	$	(0.6)	$	10.8	$	(3.5)	$	1.7	$	(1.6)	$	11.7

In the three and nine months ended October 3, 2020, the Company recognized a pension benefit plan settlement loss of $10.2 million related to its restructuring actions.

The components of the Company’s net periodic other postretirement benefit cost are shown below (in millions):


	Three Months Ended								Nine Months Ended
	October 2, 2021				October 3, 2020				October 2, 2021				October 3, 2020
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign

Interest cost	$	0.3	$	0.1	$	0.5	$	0.2	$	1.0	$	0.5	$	1.3	$	0.6
Amortization of actuarial gain	(0.2)		—		(0.4)		—		(0.8)		—		(1.2)		—
Amortization of prior service credit	—		—		—		—		(0.1)		—		(0.1)		—


Net periodic benefit cost	$	0.1	$	0.1	$	0.1	$	0.2	$	0.1	$	0.5	$	—	$	0.6