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Employee Benefits (Notes) | 6 Months Ended
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Jun. 30, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Employee Benefits | Employee Benefits We have a defined benefit pension plan that covers certain U.S. employees (the “Domestic Pension Plan”). We also have numerous funded and unfunded plans outside the U.S. The Interpublic Limited Pension Plan in the U.K. is a defined benefit plan and is our most material foreign pension plan in terms of the benefit obligation and plan assets. Some of our domestic and foreign subsidiaries provide postretirement health benefits and life insurance to eligible employees and, in certain cases, their dependents. The domestic postretirement benefit plan is our most material postretirement benefit plan in terms of the benefit o bligation. Certain immaterial foreign pension and postretirement benefit plans have been excluded from the table below. In December 2023, the U.K. Pension Plan entered into an agreement with an insurance company to purchase a group annuity, or "buy-in", that matches the plan's future projected benefit obligations to covered participants. As part of the annuity purchase contract, the U.K. Pension Plan has the option to complete a "buy-out", which would transfer all liabilities of the plan to the insurer, which the Company anticipates to be completed in the first half of 2025. The non-cash settlement charge, net of tax, associated with the transaction is currently estimated to be approximately $180.0 to $200.0. The components of net periodic cost for the Domestic Pension Plan, the significant foreign pension plans and the domestic postretirement benefit plan are listed below.
| Domestic Pension Plan |  | Foreign Pension Plans |  | Domestic Postretirement Benefit Plan
Three Months Ended June 30, | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 0.9 |  |  | $ | 0.8 |  |  | $ | 0.0 |  |  | $ | 0.0 |
Interest cost | 0.9 |  |  | 1.0 |  |  | 3.6 |  |  | 3.8 |  |  | 0.2 |  |  | 0.3 |
Expected return on plan assets | (0.7) |  |  | (1.0) |  |  | (3.6) |  |  | (4.3) |  |  | 0.0 |  |  | 0.0 |
Settlements | 0.0 |  |  | 0.0 |  |  | (0.1) |  |  | 0.0 |  |  | 0.0 |  |  | 0.0 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | 0.0 |  |  | 0.0 |  |  | 0.0 |  |  | 0.1 |  |  | 0.0 |  |  | 0.0 |
Unrecognized actuarial losses | 0.4 |  |  | 0.4 |  |  | 1.4 |  |  | 1.2 |  |  | 0.0 |  |  | 0.0 |
Net periodic cost | $ | 0.6 |  |  | $ | 0.4 |  |  | $ | 2.2 |  |  | $ | 1.6 |  |  | $ | 0.2 |  |  | $ | 0.3 |
| Domestic Pension Plan |  | Foreign Pension Plans |  | Domestic Postretirement Benefit Plan
Six Months Ended June 30, | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 1.7 |  |  | $ | 0.6 |  |  | $ | 0.0 |  |  | $ | 0.0 |
Interest cost | 1.8 |  |  | 2.0 |  |  | 7.3 |  |  | 7.9 |  |  | 0.4 |  |  | 0.5 |
Expected return on plan assets | (1.4) |  |  | (2.0) |  |  | (7.3) |  |  | (8.5) |  |  | 0.0 |  |  | 0.0 |
Settlements | 0.0 |  |  | 0.0 |  |  | (0.1) |  |  | 0.0 |  |  | 0.0 |  |  | 0.0 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | 0.0 |  |  | 0.0 |  |  | 0.0 |  |  | 0.1 |  |  | 0.0 |  |  | 0.0 |
Unrecognized actuarial losses | 0.8 |  |  | 0.8 |  |  | 2.9 |  |  | 2.5 |  |  | 0.0 |  |  | 0.0 |
Net periodic cost | $ | 1.2 |  |  | $ | 0.8 |  |  | $ | 4.5 |  |  | $ | 2.6 |  |  | $ | 0.4 |  |  | $ | 0.5 |
The components of net periodic cost other than the service cost component are included in the line item “Other expense, net” in the Consolidated Statements of Operations. During the six months ended June 30, 2024, we contributed $0.0 and $5.2 of cash to our domestic and foreign pension plans, respectively. For the remainder of 2024, we expect to contribute approximately $0.0 and $5.0 of cash to our domestic and foreign pension plans, respectively.

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