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 and six months ended June 30, 2026 and 2025 are summarized as follows:
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Three Months Ended June 30, 2026 |
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Three Months Ended June 30, 2025 |
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Postretirement |
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Postretirement |
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U.S. |
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Non-U.S. |
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Health and |
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U.S. |
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Non-U.S. |
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Health and |
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Pension |
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Pension |
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Other |
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Pension |
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Pension |
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Other |
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Plans |
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Plans |
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Plans |
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Plans |
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Plans |
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Plans |
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Service cost - benefits earned during
the period |
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$ |
— |
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$ |
0.4 |
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$ |
— |
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$ |
— |
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$ |
0.3 |
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$ |
— |
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Interest cost of projected benefit obligations |
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1.2 |
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0.6 |
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0.1 |
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1.2 |
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0.6 |
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— |
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Expected return on plan assets |
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(1.2 |
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(0.5 |
) |
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— |
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(1.1 |
) |
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(0.5 |
) |
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— |
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Amortization of actuarial net (gain) loss |
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0.2 |
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0.1 |
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(0.3 |
) |
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0.3 |
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0.1 |
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(0.4 |
) |
Net periodic benefit cost (income) |
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$ |
0.2 |
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$ |
0.6 |
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$ |
(0.2 |
) |
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$ |
0.4 |
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$ |
0.5 |
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$ |
(0.4 |
) |
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Six Months Ended June 30, 2026 |
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Six Months Ended June 30, 2025 |
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Postretirement |
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Postretirement |
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U.S. |
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Non-U.S. |
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Health and |
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U.S. |
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Non-U.S. |
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Health and |
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Pension |
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Pension |
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Other |
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Pension |
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Pension |
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Other |
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Plans |
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Plans |
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Plans |
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Plans |
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Plans |
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Plans |
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Service cost - benefits earned during
the period |
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$ |
— |
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$ |
0.7 |
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$ |
— |
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$ |
— |
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$ |
0.6 |
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$ |
— |
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Interest cost of projected benefit obligations |
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2.3 |
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1.3 |
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0.1 |
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2.5 |
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1.2 |
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0.1 |
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Expected return on plan assets |
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(2.4 |
) |
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(0.9 |
) |
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— |
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(2.2 |
) |
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(0.9 |
) |
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— |
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Amortization of actuarial net (gain) loss |
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0.3 |
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0.2 |
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(0.6 |
) |
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0.6 |
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0.2 |
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(0.8 |
) |
Net periodic benefit cost (income) |
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$ |
0.2 |
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$ |
1.3 |
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$ |
(0.5 |
) |
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$ |
0.9 |
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$ |
1.1 |
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$ |
(0.7 |
) |
The components of net periodic benefit cost (income) other than the service cost component are included in other income (expense) - net in the Condensed Consolidated Statements of Operations.
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