RETIREMENT PLANS |
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Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RETIREMENT PLANS | RETIREMENT PLANS The following table presents the Company’s net periodic benefit cost (income) components:
The service cost component is included in Cost of Sales and Operating Expenses. All other components of net periodic benefit costs are included in Other Expense, Net on the Company's Condensed Consolidated Statements of Income. For the three months ended June 30, 2025 and June 30, 2024, the Company contributed $2.0 million and $1.8 million, respectively, to post retirement plans. For the six months ended June 30, 2025 and June 30, 2024, the Company contributed $7.1 million and $3.6 million, respectively. The Company expects to make total contributions of $14.7 million in 2025. The Company contributed a total of $16.6 million in 2024. For the three months ended June 30, 2025 and June 30, 2024, the Company contributed $5.5 million and $10.8 million, respectively, to defined contribution plans. For the six months ended June 30, 2025 and June 30, 2024, the Company contributed $12.8 million and $22.4 million, respectively.
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