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v3.24.2

Pensions | 6 Months Ended
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Jun. 30, 2024
Retirement Benefits [Abstract] |
Pensions | Pensions The following table presents the components of the Company’s net pension expense:
(dollars in millions) | Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $ | 0.2 |  |  | $ | 0.2 |  |  | $ | 0.5 |  |  | $ | 0.5 |
Interest cost | 0.4 |  |  | 0.3 |  |  | 0.7 |  |  | 0.6 |
Expected return on plan assets | (0.3) |  |  | (0.3) |  |  | (0.6) |  |  | (0.6) |
Amortization of unrecognized loss | — |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |
Amortization of prior service cost | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |
Defined benefit plan expense before settlement income | 0.4 |  |  | 0.4 |  |  | 0.8 |  |  | 0.7 |
Settlement income | — |  |  | (6.0) |  |  | — |  |  | (6.0) |
Total pension expense (income) | $ | 0.4 |  |  | $ | (5.6) |  |  | $ | 0.8 |  |  | $ | (5.3) |
The service cost component of net periodic benefit cost is presented within cost of products sold and selling, general and administrative expenses within the condensed consolidated statements of earnings while the other components of pension expense are reflected in other (income) expense, net. The Company was not required to and did not make a contribution to its U.S. pension plan in 2023. The Company is not required to make a contribution in 2024.

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