Pensions |
3 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Pensions | |
| Pensions | Note 4: Pensions Certain U.S. employees of the Company participate in a defined benefit pension plan sponsored by Modine that covers employees across multiple Modine businesses. For purposes of these condensed combined financial statements, participation in this plan has been reported under the multiemployer approach. During fiscal 2026, Modine completed the termination of this pension plan. The Company’s net periodic benefit cost associated with this plan was based on participation of Performance Technologies employees and is included within in the combined statements of operations. The allocated expense was $0.7 million for the three months ended June 30, 2025. Certain non-U.S. subsidiaries of the Company have legacy defined benefit plans which cover a smaller number of active employees and are substantially unfunded. The primary non-U.S. plans are maintained in Germany and are closed to new participants. Pension cost related to these plans consisted of $0.1 million of interest cost for both the three months ended June 30, 2026 and 2025.
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