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v3.23.2

NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS | 6 Months Ended
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Jul. 01, 2023
Retirement Benefits [Abstract] |
NET PERIODIC BENEFIT COSTS - DEFINED BENEFIT PLANS | NET PERIODIC BENEFIT COST — DEFINED BENEFIT PLANSFollowing are the components of net periodic pension expense (benefit) for the three and six months ended July 1, 2023 and July 2, 2022:
| Second Quarter
| Pension Benefits |  | Other Benefits
| U.S. Plans |  | Non-U.S. Plans |  | All Plans
(Millions of Dollars) | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Service cost | $ | 2.1 |  |  | $ | 1.2 |  |  | $ | 2.8 |  |  | $ | 3.6 |  |  | $ | — |  |  | $ | — |
Interest cost | 13.9 |  |  | 8.7 |  |  | 11.0 |  |  | 5.7 |  |  | 0.5 |  |  | 0.6 |
Expected return on plan assets | (15.6) |  |  | (15.1) |  |  | (10.5) |  |  | (9.5) |  |  | — |  |  | — |
Amortization of prior service cost (credit) | 0.2 |  |  | 0.2 |  |  | (0.1) |  |  | (0.2) |  |  | — |  |  | — |
Amortization of net loss (gain) | 2.2 |  |  | 1.8 |  |  | 0.9 |  |  | 2.0 |  |  | (0.3) |  |  | (0.1) |
Settlement / curtailment loss | — |  |  | — |  |  | 0.1 |  |  | 0.2 |  |  | — |  |  | — |
Special termination benefit | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6.9 |
Net periodic pension expense (benefit) | $ | 2.8 |  |  | $ | (3.2) |  |  | $ | 4.2 |  |  | $ | 1.8 |  |  | $ | 0.2 |  |  | $ | 7.4 |
| Year-to-Date
| Pension Benefits |  | Other Benefits
| U.S. Plans |  | Non-U.S. Plans |  | All Plans
(Millions of Dollars) | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Service cost | $ | 4.1 |  |  | $ | 2.8 |  |  | $ | 5.6 |  |  | $ | 7.5 |  |  | $ | 0.1 |  |  | $ | 0.1 |
Interest cost | 27.4 |  |  | 16.7 |  |  | 21.6 |  |  | 11.7 |  |  | 1.0 |  |  | 0.8 |
Expected return on plan assets | (31.1) |  |  | (30.2) |  |  | (20.6) |  |  | (19.7) |  |  | — |  |  | — |
Amortization of prior service cost (credit) | 0.4 |  |  | 0.4 |  |  | (0.3) |  |  | (0.4) |  |  | — |  |  | — |
Amortization of net loss (gain) | 4.4 |  |  | 3.3 |  |  | 1.7 |  |  | 4.1 |  |  | (0.6) |  |  | (0.2) |
Settlement / curtailment loss | — |  |  | — |  |  | 0.1 |  |  | 0.2 |  |  | — |  |  | — |
Special termination benefit | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6.9 |
Net periodic pension expense (benefit) | $ | 5.2 |  |  | $ | (7.0) |  |  | $ | 8.1 |  |  | $ | 3.4 |  |  | $ | 0.5 |  |  | $ | 7.6 |
The components of net periodic benefit expense other than the service cost component are included in Other, net in the Consolidated Statements of Operations and Comprehensive Income (Loss).

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