v3.26.1
Employee Benefit Plans
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Employee Benefit Plans

19. Employee Benefit Plans

The Company provides certain pension, health care, and death benefits to eligible retirees and their dependents. The funding mechanism for such benefits varies based on the country where the plan is located and the related plan. Eligibility for pension coverage is based on retirement qualifications. Healthcare benefits may be subject to deductibles, co-payments, and other limitations. The Company reserves the right to modify benefits unless prohibited by local laws or regulations.

The components of net periodic benefit cost (income) for the three months ended March 31, 2026 and 2025 are summarized as follows:

 

 

 

Three Months Ended March 31, 2026

 

 

 

 

 

 

 

 

 

Postretirement

 

 

 

U.S.

 

 

Non-U.S.

 

 

Health and

 

 

 

Pension

 

 

Pension

 

 

Other

 

 

 

Plans

 

 

Plans

 

 

Plans

 

Service cost - benefits earned during
   the period

 

$

—

 

 

$

0.3

 

 

$

—

 

Interest cost of projected benefit obligations

 

 

1.1

 

 

 

0.7

 

 

 

—

 

Expected return on plan assets

 

 

(1.2

)

 

 

(0.4

)

 

 

—

 

Amortization of actuarial net (gain) loss

 

 

0.1

 

 

 

0.1

 

 

 

(0.3

)

Net periodic benefit cost (income)

 

$

—

 

 

$

0.7

 

 

$

(0.3

)

 

 

 

Three Months Ended March 31, 2025

 

 

 

 

 

 

 

 

 

Postretirement

 

 

 

U.S.

 

 

Non-U.S.

 

 

Health and

 

 

 

Pension

 

 

Pension

 

 

Other

 

 

 

Plans

 

 

Plans

 

 

Plans

 

Service cost - benefits earned during
   the period

 

$

—

 

 

$

0.3

 

 

$

—

 

Interest cost of projected benefit obligations

 

 

1.3

 

 

 

0.6

 

 

 

0.1

 

Expected return on plan assets

 

 

(1.1

)

 

 

(0.4

)

 

 

—

 

Amortization of actuarial net (gain) loss

 

 

0.3

 

 

 

0.1

 

 

 

(0.4

)

Net periodic benefit cost (income)

 

$

0.5

 

 

$

0.6

 

 

$

(0.3

)

The components of net periodic benefit cost (income) other than the service cost component are included in other expense - net in the Condensed Consolidated Statements of Operations.