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RETIREMENT AND DEFERRED COMPENSATION PLANS
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
RETIREMENT AND DEFERRED COMPENSATION PLANS RETIREMENT AND DEFERRED COMPENSATION PLANS
We have various noncontributory retirement plans covering certain of our domestic and foreign employees. Benefits under our retirement plans are based on participants’ years of service and annual compensation as defined by each plan. Annual cash contributions to fund pension costs accrued under our domestic plans are generally at least equal to the minimum funding amounts required by the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Certain pension commitments under our foreign plans are also funded according to local requirements or at our discretion.
Effective January 1, 2021, our domestic noncontributory retirement plans were closed to new employees and employees who were rehired after December 31, 2020. These employees are instead eligible for additional contribution to their defined contribution 401(k) employee savings plan. All domestic employees with hire/rehire dates prior to January 1, 2021 are still eligible for the domestic pension plans and continue to accrue plan benefits after this date.
Components of Net Periodic Benefit Cost:
Domestic PlansForeign Plans
Three Months Ended September 30,2025202420252024
Service cost$1,983 $2,366 $1,732 $1,605 
Interest cost2,390 2,242 999 860 
Expected return on plan assets(3,186)(3,116)(631)(549)
Amortization of net (gain) loss(122)— 322 303 
Amortization of prior service cost— — 25 29 
Net periodic benefit cost$1,065 $1,492 $2,447 $2,248 
Curtailment— — — (1,851)
Total Net periodic benefit cost$1,065 $1,492 $2,447 $397 
Domestic PlansForeign Plans
Nine Months Ended September 30,2025202420252024
Service cost$5,949 $7,097 $4,979 $4,838 
Interest cost7,172 6,726 2,872 2,602 
Expected return on plan assets(9,558)(9,347)(1,814)(1,671)
Amortization of net (gain) loss
(366)— 925 819 
Amortization of prior service cost— — 73 83 
Net periodic benefit cost$3,197 $4,476 $7,035 $6,671 
Curtailment— — — (1,851)
Total Net periodic benefit cost$3,197 $4,476 $7,035 $4,820 
During the three months ended September 30, 2024, pension curtailment accounting was triggered as a result of restructuring in one of our entities in Europe. The remeasurement of the pension obligations resulted in a decrease of $1.9 million. The components of net periodic benefit cost, other than the service cost component, are included in the line miscellaneous income (expense), net in the Condensed Consolidated Statements of Income.
Employer Contributions
We currently have no minimum funding requirements for our domestic and foreign plans. However, we contributed $12.2 million to our domestic defined benefit plans during the nine months ended September 30, 2025, and do not expect that we will make any additional significant contributions during the rest of 2025. We contributed $1.3 million to our foreign defined benefit plans during the nine months ended September 30, 2025 and do not expect that we will make any additional significant contributions during the rest of 2025.