v3.25.2
EMPLOYEE BENEFIT PLANS (Notes)
6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS
Anixter Inc. sponsored the Anixter Inc. Pension Plan, which was terminated in 2022 and settled in 2024. On February 12, 2024, the remaining benefit obligation of the Anixter Inc. Pension Plan was settled through the purchase of single premium annuity contracts for total cash of $138.8 million. The purchase was funded entirely by the assets of the plan.
During the six months ended June 30, 2024, the Company recognized settlement cost of $5.5 million to recognize unrealized losses previously reported as a component of other comprehensive income (loss) related to the benefit obligation of the Anixter Inc. Pension Plan.