Retirement and Other Postretirement Benefit Plans |
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| Retirement and Other Postretirement Benefit Plans | Note 4 — Retirement and Other Postretirement Benefit Plans We maintain qualified and nonqualified defined benefit retirement plans covering certain current and former U.S. and European employees, retirement savings plans covering eligible U.S. and U.K. employees and certain postretirement health care and life insurance benefit plans covering eligible U.S. retirees. We also participate in a union sponsored multi-employer pension plan covering certain U.S. employees with union affiliations. Defined Benefit Retirement Plans Net Periodic Benefit Costs Net periodic benefit costs of our defined benefit retirement plans for the quarters and nine months ended September 30, 2025 and 2024 were as follows:
All costs related to our pensions are included as a component of operating income in our Condensed Consolidated Statements of Operations. For the quarters ended September 30, 2025 and 2024, amounts unrelated to service costs were a charge of $0.4 million and $0.2 million, respectively. For the nine months ended September 30, 2025 and 2024, amounts unrelated to service costs were a charge of $1.1 million and $0.7 million, respectively.
Contributions We generally fund our U.S. non-qualified defined benefit retirement plans when benefit payments are incurred. We contributed approximately $16.2 million in the first nine months of 2025 to cover unfunded benefits, including approximately $15.9 million for a one-time lump sum payment. We expect to contribute a total of $16.5 million in 2025 to cover unfunded benefits. Contributions to our European defined benefit retirement plans during the nine months ended September 30, 2025 were not material. We plan to contribute approximately $1.3 million during 2025 to our European plans. Postretirement Health Care and Life Insurance Benefit Plans Net amortization gain deferral for both the quarters and nine months ended September 30, 2025 and 2024 were not material. Net periodic benefit cost of our post retirement health care and life insurance benefit plans for both the quarters and nine months ended September 30, 2025 and 2024 were immaterial.
Amounts contributed in connection with our postretirement plans were immaterial for both the nine months ended September 30, 2025 and 2024. We periodically fund our postretirement plans to pay covered expenses as they are incurred. We expect to contribute approximately $0.2 million in 2025 to cover unfunded benefits. |
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