v3.25.4
Pension Plan (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Pension Plans and their Reconciliation

The following table sets forth the combined funded status of the pension plans and their reconciliation to the related amounts recognized in our consolidated financial statements at the respective measurement dates:

 

Schedule of Pension Plans and their Reconciliation  

    December 31, 2025     December 31, 2024  
    (in millions)  
Change in benefit obligation:                
Benefit obligation at beginning of period   $ 65.0     $ 76.3  
Interest cost     3.6       3.3  
Actuarial gain     (1.2 )     (10.1 ) 
Benefits paid     (3.8 )     (3.5 )
Foreign currency translation adjustments     4.8       (1.0 ) 
Benefit obligation at end of period   $ 68.4     $ 65.0  
Change in plan assets:                
Fair value of plan assets at beginning of period   $ 68.5     $ 74.3  
Actual gain (loss) on plan assets     3.1       (2.6 ) 
Employer contributions     1.3       1.5  
Benefits paid     (3.8 )     (3.5 )
Foreign currency translation adjustments     5.1       (1.2 ) 
Fair value of assets at end of period   $ 74.2     $ 68.5  
Amount recognized in the consolidated balance sheets:                
Overfunded status (non-current)   $ 5.8     $ 3.5  
Net amount recognized   $ 5.8     $ 3.5  
Schedule of Defined Benefit Plans

The following table presents the components of our net periodic pension cost:

 

    December 31, 2025     December 31, 2024  
    (in millions)  
Components of net periodic pension cost:                
Interest cost   $ 3.6     $ 3.4  
Expected return on plan assets     (4.5 )      (3.9 ) 
Amortization of net loss     0.9       1.1  
Net periodic cost   $ —     $ 0.6  
Schedule of Fair Value of Plan Assets

The fair value of the plan assets at December 31, 2025 by asset category is presented below:

 

Schedule of Fair Value of Plan Assets

    Level 1     Level 2     Level 3     Total  
    (in millions)  
Diversified fund   $ —     $ 50.5     $ —     $ 50.5  
Buy-in contract     —       —       23.3       23.3  
Cash     0.4       —       —       0.4  
Total   $ 0.4     $ 50.5     $ 23.3     $ 74.2  

 

The fair value of the plan assets at December 31, 2024 by asset category is presented below:

 

    Level 1     Level 2     Level 3     Total  
    (in millions)  
Diversified fund   $ —     $ 45.1     $ —     $ 45.1  
Buy-in contract     —       —       23.2       23.2  
Cash and other current assets     0.2       —       —       0.2  
Total   $ 0.2     $ 45.1     $ 23.2     $ 68.5  

 

 

INSPIRED ENTERTAINMENT, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

 

Changes in the value of Level 3 assets are as follows:

 

    December 31, 2025  
    (in millions)  
Beginning balance   $ 23.2  
Actual return on plan assets still held     0.4  
Transfer of payments to the plan in respect of insured pensioner members     (1.9 )
Foreign currency translation adjustments     1.6  
Ending balance   $ 23.3  
Schedule of Benefit Obligation and Net Periodic Benefit Cost for Plan

The table below presents the weighted-average actuarial assumptions used to determine the benefit obligation and net periodic benefit cost for the Plan.

 

Schedule of Benefit Obligation and Net Periodic Benefit Cost for Plan

    December 31, 2025     December 31, 2024  
Discount rate – non-insureds     5.70 %     5.64 %
Discount - insureds     5.14 %     4.98 %
Expected return on assets     5.80 %     6.40 %
RPI inflation     2.87 %     3.13 %
CPI inflation – pre 2030     1.87 %     2.13 %
CPI inflation – post 2030     2.67 %     2.93 %
Pension increases – pre-2006 service     2.78 %     2.97 %
Pension increases – post-2006 service     1.92 %     2.01 %
Pension increases – post 1988 GMP – pre 2030     1.69 %     1.83 %
Pension increases – post 1988 GMP – post 2030     2.09 %     2.21 %
Schedule of Benefit Payments are Expected to be Paid

The following benefit payments are expected to be paid:

 

    (in millions)  
2026   $ 4.0  
2027   4.0  
2028   4.0  
2029   4.4  
2030   4.4  
2031 to 2035   25.3  
Total benefit payments   $ 46.1