XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.2.u1
EMPLOYEE BENEFIT PLANS Schedule of Net Benefit Costs (Tables)
 6 Months Ended
Jun. 30, 2024
Postemployment Benefits [Abstract]  
Schedule of Net Benefit Costs [Table Text Block]
The following table sets forth the components of net periodic pension cost for the Company’s defined benefit plans:
Three Months Ended June 30
(In millions)202420232024202320242023
Domestic Plan(1)
Foreign Plans(2)
Total
Service cost$— $— $0.5 $1.2 $0.5 $1.2 
Interest cost— 0.6 6.0 2.9 6.0 3.5 
Expected return on plan assets— (0.6)(6.3)(3.0)(6.3)(3.6)
Recognized actuarial gain(3)
— — (0.1)(0.3)(0.1)(0.3)
Net periodic pension cost
$— $— $0.1 $0.8 $0.1 $0.8 
Six Months Ended June 30
(In millions)202420232024202320242023
Domestic Plan(1)
Foreign Plans(2)
Total
Service cost$— $— $1.0 $2.4 $1.0 $2.4 
Interest cost1.0 3.2 9.3 5.7 10.3 8.9 
Expected return on plan assets(0.3)(3.0)(9.8)(6.0)(10.1)(9.0)
Recognized actuarial gain(3)
— — (0.2)(0.6)(0.2)(0.6)
Settlement5.5 — — — 5.5 — 
Net periodic pension cost$6.2 $0.2 $0.3 $1.5 $6.5 $1.7 
(1)    Defined as the Anixter Inc. Pension Plan, which was settled during the first quarter of 2024, as described below.
(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, 2024 and 2023, no material amounts were reclassified from accumulated other comprehensive income into net income.