v3.25.2
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans

NOTE L - Employee Benefit Plans

The Company has several defined benefit pension plans, which cover a majority of its employees. The following information details the components of net pension (income) expense for the Company’s defined benefit plans:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30

 

 

June 30

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Service cost

 

$

23.2

 

 

$

27.6

 

 

$

47.4

 

 

$

55.4

 

Interest on projected benefit obligation

 

 

36.1

 

 

 

33.4

 

 

 

71.9

 

 

 

67.0

 

Expected return on assets

 

 

(63.1

)

 

 

(60.5

)

 

 

(125.4

)

 

 

(121.1

)

Amortization of prior service costs

 

 

.4

 

 

 

.4

 

 

 

.7

 

 

 

.7

 

Recognized actuarial loss

 

 

.1

 

 

 

1.6

 

 

 

.8

 

 

 

2.8

 

Net pension (income) expense

 

$

(3.3

)

 

$

2.5

 

 

$

(4.6

)

 

$

4.8

 

The components of net pension expense other than service cost are included in Interest and other (income) expenses, net on the Consolidated Statements of Comprehensive Income.

During the three and six months ended June 30, 2025, the Company contributed $5.0 and $11.5 to its pension plans, respectively, and $6.2 and $32.2 for the three and six months ended June 30, 2024, respectively.