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Pension and Postretirement Health and Life Benefits
 6 Months Ended
Jun. 30, 2024
Retirement Benefits, Description [Abstract]  
Pension and Postretirement Health and Life Benefits PENSION AND POSTRETIREMENT HEALTH AND LIFE BENEFITS
The Company provides retirement benefits to certain employees and retirees under two qualified defined benefit pension plans, one postretirement health and life benefit plan and two disqualified plans.

The components of net periodic benefit costs (credits) for the defined benefit pension plans were as follows (in millions):
Three Months Ended 
 June 30,		Six Months Ended 
 June 30,
2024202320242023
Service costs$0.5 $0.8 $1.0 $1.5 
Interest costs3.8 6.9 7.6 13.9 
Amortization of prior service costs (credits), net— — (0.1)(0.1)
Remeasurement gain
(16.6)— (16.6)— 
Expected return on plan assets (gains)(4.7)(7.8)(9.3)(15.5)
Net periodic benefit costs (credits)
$(17.0)$(0.1)$(17.4)$(0.2)


The components of net periodic benefit costs for the postretirement health and life benefit plan were as follows (in millions):
Three Months Ended 
 June 30,		Six Months Ended 
 June 30,
2024202320242023
Interest costs$1.1 $1.3 $2.2 $2.5 
Net periodic benefit costs$1.1 $1.3 $2.2 $2.5 

The Company reports service costs for its defined benefit pension plans and its postretirement health and life benefit plans in Cost of Sales and Selling, General and Administrative Expenses. The remaining components of net periodic benefit (credits) costs are reported as Nonoperating Components of Net Periodic Benefit Loss (Income).
During the second quarter of 2024, the Company determined that it was probable that lump sum payouts for 2024 would be greater than the annual service and interest cost components of the annual net periodic benefit cost for two of its defined benefit pension plans. In addition, on May 28, 2024, the Company entered into an agreement with an insurer (“Insurer”) for two of its defined benefit plans to purchase a group annuity contract and transferred approximately $234 million of its pension plan obligations to the Insurer. The purchase of the group annuity contract was funded directly by assets of the pension plan of approximately $224 million. The purchase resulted in a transfer of benefit administrative responsibilities for more than 1,000 beneficiaries effective September 1, 2024.

These events triggered a remeasurement that resulted in a decrease in the benefit obligation and a corresponding net actuarial gain of $16.6 million for both the three and six months ended June 30, 2024. There were no pension plan remeasurements in the three and six months ended June 30, 2023. The related income was included in Nonoperating Components of Net Periodic Benefit Loss (Income) in the Consolidated Statements of Operations.