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BENEFIT PLANS: (Tables)

12 Months Ended

Dec. 31, 2022

Post retirement defined benefit plans and defined contribution plan

Components of net periodic benefit costs

Schedule of the components of net periodic benefit costs

​

​	​	​	​	​	​	​	​	​	​
(in millions)		2022			2021			2020
Service cost	​	$	1.8	​	$	1.4	​	$	1.4
Interest cost	​		2.3	​		1.5	​		1.7
Expected return on plan assets	​		(3.9)	​		(3.3)	​		(2.9)
Amortization of net actuarial loss	​	​	0.1	​	​	(0.1)	​	​	0.1
Amortization of prior service cost / (credit)	​		0.2	​		0.2	​		0.2
Settlement / Curtailment	​	​	—	​	​	—	​	​	(0.4)
Amortization of net loss/(gain)	​		0.3	​		0.3	​		0.2
Net periodic benefit cost	​	$	0.8	​	$	—	​	$	0.3

​

Schedule of changes in the benefit obligation and plan assets, the funded status of the plans and the amount recognized in balance sheet and accumulated other comprehensive income

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in millions)		2022			2021
Change in benefit obligation:	​	​	​	​	​	​
Projected benefit obligation at beginning of year	​	$	36.3	​	$	29.9
Service cost	​		1.8	​		1.4
Interest cost	​		2.3	​		1.5
Benefits paid	​		(2.8)	​		(2.2)
Actuarial loss	​		1.0	​		6.7
Actuarial gain assumption changes	​		(1.7)	​		(0.4)
Inflation adjustment	​		1.7	​		(0.6)
Projected benefit obligation at end of year	​	$	38.6	​	$	36.3
Change in plan assets:	​	​	​	​	​	​
Fair value of plan assets at beginning of year	​	$	56.0	​	$	54.4
Actual return on plan assets	​		1.9	​		4.3
Employer contributions	​		(0.8)	​		(0.6)
Benefits paid	​		(0.8)	​		(0.8)
Currency exchange rate adjustment	​		2.9	​		(1.3)
Fair value of plan assets at end of year	​	$	59.2	​	$	56.0
Funded status at end of year:	​	$	20.6	​	$	19.7
ASC-715 amounts recognized in statement of financial position consists of:	​	​	​	​	​	​
Non-current assets	​	$	20.6	​	$	19.7
Total	​	$	20.6	​	$	19.7
ASC-715 amounts recognized in accumulated other comprehensive income (net of income taxes of $(4.8) million and $(4.2) million in 2022 and 2021, respectively) consists of:	​	​	​	​	​	​
Net loss (gain)	​	$	6.7	​	$	6.2
Prior service cost	​		1.1	​		1.0
Total	​	$	7.8	​	$	7.2

​

Schedule of changes in accumulated other comprehensive income

​

​	​	​	​	​	​	​
(in millions)		2022			2021
Reconciliation of accumulated other comprehensive income:	​	​	​	​	​	​
Accumulated other comprehensive income at beginning of plan year	​	$	7.2	​	$	4.2
Net loss/(gain) ocurring during the year	​		0.8	​		3.3
Net loss/(gain) amortized during the year	​		(0.4)	​		(0.2)
Currency exchange rate adjustment	​		0.2	​		(0.1)
Net adjustment to accumulated other comprehensive income (net of income taxes of $(0.5) million and $(1.9) million in 2022 and 2021, respectively)	​		0.6	​		3.0
Accumulated other comprehensive income at end of plan year	​	$	7.8	​	$	7.2

​

Summary of the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of tax

​

​	​	​	​	​	​	​
(in millions)		2022			2021
Net loss / (gain)	​	$	0.8	​	$	3.3
Amortization of net (loss) gain	​		(0.4)	​		(0.2)
Total amortization expenses	​	$	0.4	​	$	3.1

​

Schedule of assumptions used to determine the pension obligations and other post-retirement benefits

​

​	​	​	​	​	​	​	​
Expatriate Plan		2022		2021		2020
Discount rate		4.85	%	2.40	%	1.90	%
Expected long-term rate of return on plan asset		4.00	%	3.00	%	3.50	%
Rate of increase in future compensation level		N/A	​	N/A	​	N/A	​

​

​	​	​	​	​	​	​	​
Mexican Plan(*)		2022		2021		2020
Discount rate		10.09	%	8.02	%	7.43	%
Expected long-term rate of return on plan asset		10.09	%	8.02	%	7.43	%
Rate of increase in future compensation level		4.75	%	4.50	%	4.50	%

(*)These rates are based on Mexican pesos as pension obligations are denominated in this currency.

​

Scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter

​

​	​	​	​
​		Expected
Years	​	Benefit Payments
​	​	(in millions)
2023	​	$	7.5
2024	​		3.2
2025	​		3.7
2026	​		3.6
2027	​		4.2
2028 to 2032	​		20.2
Total	​	$	42.4

​

Post-retirement Health care plans

Components of net periodic benefit costs

Schedule of the components of net periodic benefit costs

​

​	​	​	​	​	​	​	​	​	​
(in millions)		2022			2021			2020
Interest cost	​	$	1.7	​	$	1.6	​	$	1.3
Amortization of net loss (gain)	​		0.1	​		0.2	​		—
Net periodic benefit cost	​	$	1.8	​	$	1.8	​	$	1.3

​

Schedule of changes in the benefit obligation and plan assets, the funded status of the plans and the amount recognized in balance sheet and accumulated other comprehensive income

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in millions)		2022			2021
Change in benefit obligation:	​	​	​	​	​	​
Projected benefit obligation at beginning of year	​	$	21.4	​	$	23.8
Interest cost	​		1.7	​		1.6
Benefits paid	​		(1.6)	​		(1.4)
Actuarial (gain)	​		(2.6)	​		(2.0)
Inflation adjustment	​		1.4	​		(0.6)
Projected benefit obligation at end of year	​	$	20.3	​	$	21.4
Funded status at end of year:	​	$	20.3	​	$	21.4
ASC-715 amounts recognized in statement of financial position consists of:	​	​	​	​	​	​
Non-current liabilities	​		(20.3)	​		(21.4)
Total	​	$	(20.3)	​	$	(21.4)
ASC-715 amounts recognized in accumulated other comprehensive income consists of:	​	​	​	​	​	​
Net loss (gain)	​	$	1.6	​	$	3.3
Total (net of income taxes of $(0.5) million and $(1.2) million in 2022 and 2021, respectively)	​	$	1.6	​	$	3.3

​

Schedule of changes in accumulated other comprehensive income

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in millions)		2022			2021
Reconciliation of accumulated other comprehensive income:	​	​	​	​	​	​
Accumulated other comprehensive income at beginning of plan year	​	$	3.3	​	$	4.6
Net loss/(gain) occurring during the year	​		(1.8)	​		(1.1)
Net loss/(gain) amortized during the year	​		(0.1)	​		(0.1)
Currency exchange rate adjustment	​		0.2	​		(0.1)
Net adjustment to accumulated other comprehensive income (net of income taxes of $(0.5) million and $(1.2) million in 2022 and 2021, respectively)	​		(1.7)	​		(1.3)
Accumulated other comprehensive income at end of plan year	​	$	1.6	​	$	3.3

​

Summary of the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of tax

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in millions)		2022			2021
Net loss / (gain)	​	$	(1.8)	​	$	(1.1)
Amortization of net (loss) gain	​		(0.1)	​		(0.1)
Total amortization expenses	​	$	(1.9)	​	$	(1.2)

​

Schedule of assumptions used to determine the pension obligations and other post-retirement benefits

​

​	​	​	​	​	​	​	​
​		2022		2021		2020
Expatriate health plan	​	​	​	​	​	​	​
Discount rate		4.85	%	2.40	%	1.90	%
Mexican health plan	​	​	​	​	​	​	​
Weighted average discount rate		10.09	%	8.02	%	7.43	%

​

Scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter

​

​	​	​	​
​		Expected
Year	​	Benefit Payments
​	​	(in millions)
2023	​	$	1.6
2024	​	​	1.6
2025	​		1.7
2026	​		1.7
2027	​		1.7
2028 to 2032	​		9.4
Total	​	$	17.7

​

Mexican Health Plan | Post retirement defined benefit plans and defined contribution plan

Components of net periodic benefit costs

Schedule of asset mix of the investment portfolio

​

​	​	​	​	​	​
​		2022		2021
Asset category:	​	​	​	​	​
Treasury bills		76	%	73	%
Equity securities		24	%	27	%
​		100	%	100	%

​

Mexican Health Plan | Post-retirement Health care plans

Components of net periodic benefit costs

Schedule of effects of one percentage-point change in assumed other benefits cost trend rates

​

​	​	​	​	​	​	​
​	​	One Percentage
​	​	Point
(in millions)		Increase			Decrease
Effect on total service and interest cost components	​	$	2.1	​	$	1.8
Effect on the post-retirement benefit obligation	​	$	20.9	​	$	19.0

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