v3.26.3
RETIREMENT AND DEFERRED COMPENSATION PLANS
 9 Months Ended
Sep. 30, 2026
Retirement Benefits [Abstract]  
RETIREMENT AND DEFERRED COMPENSATION PLANS RETIREMENT AND DEFERRED COMPENSATION PLANS
We have various noncontributory retirement plans covering certain of our domestic and foreign employees. Benefits under our retirement plans are based on participants’ years of service and annual compensation as defined by each plan. Our domestic defined benefit pension plans are closed to new participants, however, eligible existing participants continue to accrue benefits under the plans.
Components of Net Periodic Benefit Cost:
Domestic PlansForeign Plans
Three Months Ended September 30,2026202520262025
Service cost$1,987 $1,983 $1,549 $1,732 
Interest cost2,494 2,390 1,055 999 
Expected return on plan assets(3,260)(3,186)(613)(631)
Amortization of net (gain) loss(4)(122)34 322 
Amortization of prior service cost— — 25 25 
Net periodic benefit cost$1,217 $1,065 $2,050 $2,447 
Curtailment— — (3,254)— 
Total Net periodic benefit cost$1,217 $1,065 $(1,204)$2,447 
Domestic PlansForeign Plans
Nine Months Ended September 30,2026202520262025
Service cost$5,960 $5,949 $4,703 $4,979 
Interest cost7,483 7,172 3,236 2,872 
Expected return on plan assets(9,780)(9,558)(1,834)(1,814)
Amortization of net (gain) loss
(11)(366)315 925 
Amortization of prior service cost— — 80 73 
Net periodic benefit cost$3,652 $3,197 $6,500 $7,035 
Curtailment— — (3,254)— 
Total Net periodic benefit cost$3,652 $3,197 $3,246 $7,035 
During the third quarter of 2026, the Company recognized a $3.3 million curtailment gain related to the transfer of a participant from a foreign defined benefit pension plan to a U.S. retirement plan in connection with the participant’s transition to a U.S.-based role. The components of net periodic benefit cost, other than the service cost component, are included in the line miscellaneous income (expense), net in the Condensed Consolidated Statements of Income.
Employer Contributions
Although we have no minimum funding requirement, discretionary cash contributions to fund pension costs accrued under our domestic plans are generally at least equal to the minimum funding amounts required by ERISA. There were no contributions to our domestic defined benefit plans during the nine months ended September 30, 2026, and we do not expect that we will make significant additional contributions in the remainder of 2026. For the supplemental executive retirement plan (SERP), $0.7 million of company-paid benefits were distributed during the nine months ended September 30, 2026, and approximately $0.2 million is expected to be paid during the rest of 2026. Contributions to fund pension costs accrued under our foreign plans are made in accordance with local laws or, if not otherwise stated, at our discretion. We contributed $1.4 million to our foreign defined benefit plans during the nine months ended September 30, 2026 and do not expect to make any additional significant contributions during the rest of 2026.