XML 36 R26.htm IDEA: XBRL DOCUMENT
v3.23.2

EMPLOYEE BENEFIT PLANS Schedule of Net Benefit Costs (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Postemployment Benefits [Abstract] |
Schedule of Net Benefit Costs [Table Text Block] | The following table sets forth the components of net periodic pension (benefit) cost for the Company's defined benefit plans:
| Three Months Ended
(In millions) | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
| Domestic Plans(1) |  | Foreign Plans(2) |  | Total
Service cost | $ | — |  |  | $ | — |  |  | $ | 1.2 |  |  | $ | 2.1 |  |  | $ | 1.2 |  |  | $ | 2.1 |
Interest cost | 0.6 |  |  | 2.1 |  |  | 2.9 |  |  | 2.3 |  |  | 3.5 |  |  | 4.4 |
Expected return on plan assets | (0.6) |  |  | (3.5) |  |  | (3.0) |  |  | (4.2) |  |  | (3.6) |  |  | (7.7) |
Recognized actuarial gain(3) | — |  |  | — |  |  | (0.3) |  |  | (0.2) |  |  | (0.3) |  |  | (0.2) |
Net periodic pension (benefit) cost | $ | — |  |  | $ | (1.4) |  |  | $ | 0.8 |  |  | $ | — |  |  | $ | 0.8 |  |  | $ | (1.4) |
| Six Months Ended
(In millions) | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
| Domestic Plans(1) |  | Foreign Plans(2) |  | Total
Service cost | $ | — |  |  | $ | — |  |  | $ | 2.4 |  |  | $ | 4.3 |  |  | $ | 2.4 |  |  | $ | 4.3 |
Interest cost | 3.2 |  |  | 4.2 |  |  | 5.7 |  |  | 4.6 |  |  | 8.9 |  |  | 8.8 |
Expected return on plan assets | (3.0) |  |  | (7.0) |  |  | (6.0) |  |  | (8.5) |  |  | (9.0) |  |  | (15.5) |
Recognized actuarial gain(3) | — |  |  | — |  |  | (0.6) |  |  | (0.4) |  |  | (0.6) |  |  | (0.4) |
Net periodic pension (benefit) cost | $ | 0.2 |  |  | $ | (2.8) |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 1.7 |  |  | $ | (2.8) |
(1) Defined as the Anixter Inc. Pension Plan, Anixter Inc. Executive Benefit Plan, and the Anixter Inc. Supplemental Executive Retirement Plan. (2) Defined as the EECOL Electric ULC Retirement Plan, the EECOL Electric ULC Supplemental Executive Retirement Plan, the Pension Plan for Employees of Anixter Canada Inc., and various defined benefit pension plans covering employees of foreign subsidiaries in Europe. (3) For the three and six months ended June 30, 2023 and 2022, no material amounts were reclassified from accumulated other comprehensive income into net income.

X
- References No definition available. + Details
Name: | us-gaap_PostemploymentBenefitsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration