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

13. Employee Benefit Plans and Other Postretirement Benefits

The components of net periodic benefit cost for our pension plans were as follows (dollars in millions):

 

 

 

Pension Plans

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Service cost

 

$

2.6

 

 

$

3.1

 

 

$

5.2

 

 

$

6.3

 

Interest cost

 

 

14.3

 

 

 

13.9

 

 

 

28.6

 

 

 

27.7

 

Expected return on plan assets

 

 

(15.6

)

 

 

(16.5

)

 

 

(31.2

)

 

 

(32.9

)

Net amortization of unrecognized amounts

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost

 

 

1.4

 

 

 

1.4

 

 

 

2.8

 

 

 

2.7

 

Actuarial loss

 

 

—

 

 

 

0.2

 

 

 

—

 

 

 

0.4

 

Net periodic benefit cost

 

$

2.7

 

 

$

2.1

 

 

$

5.4

 

 

$

4.2

 

 

PCA makes pension plan contributions that are sufficient to fund its actuarially determined costs, generally equal to the minimum amounts required by the Employee Retirement Income Security Act (ERISA). From time to time, PCA may make additional discretionary contributions based on the funded status of the plans, tax deductibility, income from operations, and other factors. During both the three and six months ended June 30, 2025 and 2024, payments to our nonqualified pension plans were insignificant. During both the three and six months ended June 30, 2025 and 2024, we did not make any contributions to our qualified pension plans. We do not have a required minimum contribution amount established for 2025.

For both the three and six months ended June 30, 2025 and 2024, the net periodic benefit cost for our postretirement plans was insignificant.