OTHER MATTERS |
6 Months Ended |
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Jun. 30, 2026 | |
| Retirement Benefits [Abstract] | |
| OTHER MATTERS | OTHER MATTERS FMC Technologies (UK) Pension Plan Buy-In During 2024, two of the U.K. pension plans entered into buy-in contracts for all their members. Under the buy-in contract terms, the responsibility to pay pension benefits still rests with the plans and the obligation is still recorded by the Company. In July 2024, the U.K. Court of Appeal upheld a ruling of the U.K. High Court in Virgin Media Ltd v. NTL Pension Trustees II Ltd case, a matter that we were not a party to or involved in. The court ruled that certain historical amendments purportedly made to Virgin Media’s U.K. defined benefit plan were legally invalid because they had not been accompanied by necessary actuarial confirmation. Legislation has since been enacted in the U.K., under the Pension Schemes Act 2026, to provide a mechanism by which affected pension plans may, subject to satisfying certain statutory conditions, obtain retrospective actuarial confirmation of historic benefit changes. The trustees of the U.K. pension plans are evaluating any actions that may be required. Based on information currently available, the Company does not believe the matter is expected to have a material impact on the measurement of its pension liabilities in respect of the U.K. pension plans.
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