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v3.24.2

NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS | 6 Months Ended
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Jun. 29, 2024
Retirement Benefits [Abstract] |
NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS | NET PERIODIC BENEFIT COST — DEFINED BENEFIT PLANS Following are the components of net periodic pension expense for the three and six months ended June 29, 2024 and July 1, 2023:
| Second Quarter
| Pension Benefits |  | Other Benefits
| U.S. Plans |  | Non-U.S. Plans |  | All Plans
(Millions of Dollars) | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $ | 1.6 |  |  | $ | 2.1 |  |  | $ | 3.0 |  |  | $ | 2.8 |  |  | $ | — |  |  | $ | — |
Interest cost | 12.9 |  |  | 13.9 |  |  | 10.4 |  |  | 11.0 |  |  | 0.4 |  |  | 0.5 |
Expected return on plan assets | (15.2) |  |  | (15.6) |  |  | (10.8) |  |  | (10.5) |  |  | — |  |  | — |
Amortization of prior service cost (credit) | 0.1 |  |  | 0.2 |  |  | (0.2) |  |  | (0.1) |  |  | — |  |  | — |
Amortization of net loss (gain) | 2.0 |  |  | 2.2 |  |  | 1.1 |  |  | 0.9 |  |  | (0.2) |  |  | (0.3) |
Settlement / curtailment loss | — |  |  | — |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | — |
Net periodic pension expense | $ | 1.4 |  |  | $ | 2.8 |  |  | $ | 3.6 |  |  | $ | 4.2 |  |  | $ | 0.2 |  |  | $ | 0.2 |
| Year-to-Date
| Pension Benefits |  | Other Benefits
| U.S. Plans |  | Non-U.S. Plans |  | All Plans
(Millions of Dollars) | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $ | 3.2 |  |  | $ | 4.1 |  |  | $ | 6.1 |  |  | $ | 5.6 |  |  | $ | 0.1 |  |  | $ | 0.1 |
Interest cost | 25.8 |  |  | 27.4 |  |  | 20.8 |  |  | 21.6 |  |  | 0.8 |  |  | 1.0 |
Expected return on plan assets | (30.4) |  |  | (31.1) |  |  | (21.7) |  |  | (20.6) |  |  | — |  |  | — |
Amortization of prior service cost (credit) | 0.3 |  |  | 0.4 |  |  | (0.4) |  |  | (0.3) |  |  | — |  |  | — |
Amortization of net loss (gain) | 4.0 |  |  | 4.4 |  |  | 2.2 |  |  | 1.7 |  |  | (0.5) |  |  | (0.6) |
Settlement / curtailment loss | — |  |  | — |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | — |
Net periodic pension expense | $ | 2.9 |  |  | $ | 5.2 |  |  | $ | 7.1 |  |  | $ | 8.1 |  |  | $ | 0.4 |  |  | $ | 0.5 |
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 (Loss) Income.

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