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Pension Benefits, Other Postretirement Benefits and Employee Savings and Investment Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Change In Benefit Obligation
The following table summarizes the change in plan assets and changes in benefit obligations:
Pension BenefitsOther Postretirement Benefits
(Dollars in millions)2023202220232022
Change in plan assets:
Fair value of plan assets as of January 1$26.3 $33.5 $— $— 
Actual return on plan assets1.9 (5.6)— — 
Settlement(0.3)— — — 
Employer contributions0.3 — — — 
Benefit payments(1.5)(1.6)— — 
Fair value of plan assets as of December 31$26.7 $26.3 $— $— 
Change in plan benefit obligations:
Fair value of plan benefit obligations as of January 1$21.3 $28.7 $1.4 $1.4 
Service cost— — 0.1 0.1 
Interest cost1.1 0.7 0.1 — 
Actuarial (gain) loss0.8 (6.6)— (0.1)
Settlement(0.3)— — — 
Benefit payments(1.5)(1.5)— — 
Fair value of plan benefit obligations as of December 31$21.4 $21.3 $1.6 $1.4 
Amount overfunded (underfunded)$5.3 $5.0 $(1.6)$(1.4)
Schedule of Change in Plan Assets
The following table summarizes the change in plan assets and changes in benefit obligations:
Pension BenefitsOther Postretirement Benefits
(Dollars in millions)2023202220232022
Change in plan assets:
Fair value of plan assets as of January 1$26.3 $33.5 $— $— 
Actual return on plan assets1.9 (5.6)— — 
Settlement(0.3)— — — 
Employer contributions0.3 — — — 
Benefit payments(1.5)(1.6)— — 
Fair value of plan assets as of December 31$26.7 $26.3 $— $— 
Change in plan benefit obligations:
Fair value of plan benefit obligations as of January 1$21.3 $28.7 $1.4 $1.4 
Service cost— — 0.1 0.1 
Interest cost1.1 0.7 0.1 — 
Actuarial (gain) loss0.8 (6.6)— (0.1)
Settlement(0.3)— — — 
Benefit payments(1.5)(1.5)— — 
Fair value of plan benefit obligations as of December 31$21.4 $21.3 $1.6 $1.4 
Amount overfunded (underfunded)$5.3 $5.0 $(1.6)$(1.4)
Schedule Of Amounts Recognized In Consolidated Balance Sheet
The pension-related balances reflected in the consolidated statements of financial position consisted of the following:
Pension BenefitsOther Postretirement Benefits
As of December 31,As of December 31,
(Dollars in millions)2023202220232022
Assets & Liabilities:
Non-current assets$5.3 $5.2 $— $— 
Current liabilities— — (0.2)(0.2)
Non-current liabilities— (0.2)(1.4)(1.2)
Net assets (liabilities)$5.3 $5.0 $(1.6)$(1.4)
Accumulated Other Comprehensive Loss:
Net actuarial (loss) gain$(11.6)$(11.8)$0.2 $0.2 
Accumulated other comprehensive (loss) income$(11.6)$(11.8)$0.2 $0.2 
Schedule Of Net Periodic Benefit Cost Not Yet Recognized
The pension-related balances reflected in the consolidated statements of financial position consisted of the following:
Pension BenefitsOther Postretirement Benefits
As of December 31,As of December 31,
(Dollars in millions)2023202220232022
Assets & Liabilities:
Non-current assets$5.3 $5.2 $— $— 
Current liabilities— — (0.2)(0.2)
Non-current liabilities— (0.2)(1.4)(1.2)
Net assets (liabilities)$5.3 $5.0 $(1.6)$(1.4)
Accumulated Other Comprehensive Loss:
Net actuarial (loss) gain$(11.6)$(11.8)$0.2 $0.2 
Accumulated other comprehensive (loss) income$(11.6)$(11.8)$0.2 $0.2 
Schedule of Projected Benefit Obligation and Fair Value of Plan Assets
The PBO, ABO, and fair value of plan assets for our pension plan with plan assets in excess of its PBO or ABO were as follows:
(Dollars in millions)20232022
Projected benefit obligation$21.5 $21.0 
Accumulated benefit obligation$21.5 $21.0 
Fair value of plan assets$26.7 $26.3 
The PBO and ABO of plan assets for our other postretirement benefit plans with a PBO or ABO in excess of plan assets were as follows:
(Dollars in millions)20232022
Projected benefit obligation$(1.6)$(1.4)
Accumulated benefit obligation$(1.6)$(1.4)
Fair value of plan assets$— $— 
Schedule of Accumulated Benefit Obligation and Fair Value of Plan Assets
The PBO, ABO, and fair value of plan assets for our pension plan with plan assets in excess of its PBO or ABO were as follows:
(Dollars in millions)20232022
Projected benefit obligation$21.5 $21.0 
Accumulated benefit obligation$21.5 $21.0 
Fair value of plan assets$26.7 $26.3 
The PBO and ABO of plan assets for our other postretirement benefit plans with a PBO or ABO in excess of plan assets were as follows:
(Dollars in millions)20232022
Projected benefit obligation$(1.6)$(1.4)
Accumulated benefit obligation$(1.6)$(1.4)
Fair value of plan assets$— $— 
Schedule of Components of Net Periodic Benefit Cost
The components of net periodic benefit cost (credit) were as follows:
Pension BenefitsOther Postretirement Benefits
Years Ended December 31,Years Ended December 31,
(Dollars in millions)202320222021202320222021
Service cost$— $— $— $0.1 $0.1 $0.1 
Interest cost1.1 0.7 0.7 0.1 — — 
Expected return of plan assets(1.4)(1.3)(1.5)— — — 
Amortization of prior service credit— — — — — (0.1)
Amortization of net loss (gain)0.5 0.4 0.4 — — — 
Settlement0.1 — — — — — 
Net periodic benefit cost (credit)$0.3 $(0.2)$(0.4)$0.2 $0.1 $— 
Schedule of Weighted-Average Assumptions Used
The key plan assumptions utilized in our annual plan measurements were as follows:
Pension BenefitsOther Postretirement Benefits
2023202220232022
Weighted average assumptions used in benefit obligations:
Discount rate4.75 %5.25 %4.75 %5.00 %
Weighted average assumptions used in net periodic benefit costs:
Discount rate5.25 %2.75 %5.00 %2.25 %
Expected long-term rate of return on assets5.59 %4.17 %— %— %
Schedule of Allocation Of Plan Assets
The following table presents the fair value of the pension plan net assets by asset category and level, within the fair value hierarchy, as of December 31, 2023 and 2022:
Fair Value of Plan Assets as of December 31, 2023
(Dollars in millions)Level 1Level 2Level 3Total
Fixed income bonds$0.2 $22.3 $— $22.5 
Mutual funds3.0 — — 3.0 
Pooled separate accounts— 0.1 — 0.1 
Guaranteed deposit account— — 1.1 1.1 
Total plan assets at fair value$3.2 $22.4 $1.1 $26.7 
Fair Value of Plan Assets as of December 31, 2022
(Dollars in millions)Level 1Level 2Level 3Total
Fixed income bonds$— $22.2 $— $22.2 
Mutual funds2.5 — — 2.5 
Pooled separate accounts— 0.5 — 0.5 
Guaranteed deposit account— — 1.1 1.1 
Total plan assets at fair value$2.5 $22.7 $1.1 $26.3 
Schedule of Changes in Fair Value of Level 3 Assets
The following table presents a summary of changes in the fair value of the guaranteed deposit account’s Level 3 assets for the year ended December 31, 2023:
(Dollars in millions)Guaranteed Deposit Account
Balance as of December 31, 2022$1.1 
Change in unrealized gain (loss)— 
Purchases, sales, issuances and settlements (net)— 
Balance as of December 31, 2023$1.1 
Schedule of Future Benefit Payments The following table sets forth the expected benefit payments to be paid for our pension plans and our other postretirement benefit plans:
(Dollars in millions)Pension BenefitsOther Postretirement Benefits
2024$1.7 $0.2 
2025$1.7 $0.2 
2026$1.7 $0.2 
2027$1.7 $0.2 
2028$1.6 $0.1 
2029-2033$7.6 $0.8