Note 9 – Pension and Other Postretirement Benefits Contributions to the Corporation’s employee benefit plans are summarized below. Effective January 1, 2026, certain contributions to the U.S. defined contribution plan are made annually.
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
|
|
2026 |
|
2025 |
|
U.S. defined benefit pension plans |
|
$ |
1,262 |
|
$ |
2,488 |
|
U.S. nonqualified defined benefit pension plans (e.g. payments) |
|
$ |
476 |
|
$ |
574 |
|
Foreign defined benefit pension plans |
|
$ |
210 |
|
$ |
323 |
|
Other postretirement benefits (e.g., net payments) |
|
$ |
189 |
|
$ |
259 |
|
Foreign defined contribution pension plans |
|
$ |
186 |
|
$ |
207 |
|
U.S. defined contribution plan |
|
$ |
1,113 |
|
$ |
2,220 |
|
Net periodic pension and other postretirement benefit costs included the following components:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
U.S. Defined Benefit Pension Plans (a) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Service cost |
|
$ |
5 |
|
|
$ |
5 |
|
|
$ |
15 |
|
|
$ |
14 |
|
Interest cost |
|
|
1,970 |
|
|
|
2,236 |
|
|
|
5,908 |
|
|
|
6,708 |
|
Expected return on plan assets |
|
|
(2,494 |
) |
|
|
(2,818 |
) |
|
|
(7,482 |
) |
|
|
(8,458 |
) |
Amortization of actuarial loss |
|
|
224 |
|
|
|
44 |
|
|
|
672 |
|
|
|
131 |
|
Net benefit income |
|
$ |
(295 |
) |
|
$ |
(533 |
) |
|
$ |
(887 |
) |
|
$ |
(1,605 |
) |
(a) Includes the nonqualified defined benefit pension plans.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
Foreign Defined Benefit Pension Plans(b) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Service cost |
|
$ |
9 |
|
|
$ |
36 |
|
|
$ |
27 |
|
|
$ |
96 |
|
Interest cost |
|
|
45 |
|
|
|
484 |
|
|
|
141 |
|
|
|
1,425 |
|
Expected return on plan assets |
|
|
— |
|
|
|
(555 |
) |
|
|
— |
|
|
|
(1,636 |
) |
Amortization of prior service credit |
|
|
— |
|
|
|
(74 |
) |
|
|
— |
|
|
|
(218 |
) |
Amortization of actuarial loss |
|
|
3 |
|
|
|
209 |
|
|
|
8 |
|
|
|
614 |
|
Net benefit expense |
|
$ |
57 |
|
|
$ |
100 |
|
|
$ |
176 |
|
|
$ |
281 |
|
(b) Includes UES-UK for the three and nine months ended September 30, 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
Other Postretirement Benefit Plans |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Service cost |
|
$ |
33 |
|
|
$ |
34 |
|
|
$ |
97 |
|
|
$ |
103 |
|
Interest cost |
|
|
75 |
|
|
|
88 |
|
|
|
226 |
|
|
|
264 |
|
Amortization of prior service credit |
|
|
(256 |
) |
|
|
(256 |
) |
|
|
(768 |
) |
|
|
(768 |
) |
Amortization of actuarial gain |
|
|
(86 |
) |
|
|
(80 |
) |
|
|
(258 |
) |
|
|
(239 |
) |
Net benefit income |
|
$ |
(234 |
) |
|
$ |
(214 |
) |
|
$ |
(703 |
) |
|
$ |
(640 |
) |
|