XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.23.2

Retirement and Other Postretirement Benefit Plans | 6 Months Ended
--- | ---
Jun. 30, 2023
Retirement Benefits [Abstract] |
Retirement and Other Postretirement Benefit Plans | Retirement and Other Postretirement Benefit Plans We maintain qualified and nonqualified defined benefit retirement plans covering certain current and former U.S. and European employees, retirement savings plans covering eligible U.S. and U.K. employees and certain postretirement health care and life insurance benefit plans covering eligible U.S. retirees. We also participate in a union sponsored multi-employer pension plan covering certain U.S. employees with union affiliations. Defined Benefit Retirement Plans Net Periodic Benefit Costs Net periodic benefit costs of our defined benefit retirement plans for the quarters and six months ended June 30, 2023 and 2022 were as follows:
|  | Quarter Ended June 30, |  |  | Six Months Ended June 30, |
(In millions) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
U.S. Nonqualified Defined Benefit Retirement Plans |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.6 |  |  | $ | 0.6 |
Interest cost |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.2 |  |  |  | 0.2 |
Net amortization |  |  | 0.2 |  |  |  | 0.2 |  |  |  | 0.4 |  |  |  | 0.4 |
Net periodic benefit cost |  | $ | 0.6 |  |  | $ | 0.6 |  |  | $ | 1.2 |  |  | $ | 1.2 |
(In millions) |  | June 30, 2023 |  |  | December 31, 2022 |
Amounts recognized on the balance sheet for U.S. nonqualified defined benefit retirement plans: |  |  |  |  |  |
Accrued liabilities |  | $ | 1.3 |  |  | $ | 1.4 |
Other non-current liabilities |  |  | 19.2 |  |  |  | 18.5 |
Total accrued benefit |  | $ | 20.5 |  |  | $ | 19.9 |
|  | Quarter Ended June 30, |  |  | Six Months Ended June 30, |
(In millions) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
European Defined Benefit Retirement Plans |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 0.1 |  |  | $ | 0.2 |  |  | $ | 0.3 |  |  | $ | 0.4 |
Interest cost |  |  | 1.3 |  |  |  | 0.5 |  |  |  | 2.5 |  |  |  | 1.1 |
Expected return on plan assets |  |  | (1.2 | ) |  |  | (0.5 | ) |  |  | (2.4 | ) |  |  | (1.1 | )
Net amortization and deferral |  |  | 0.6 |  |  |  | 0.6 |  |  |  | 1.2 |  |  |  | 1.2 |
Net periodic benefit cost |  | $ | 0.8 |  |  | $ | 0.8 |  |  | $ | 1.6 |  |  | $ | 1.6 |
(In millions) |  | June 30, 2023 |  |  | December 31, 2022 |
Amounts recognized on the balance sheet for European defined benefit retirement plans: |  |  |  |  |  |
Other assets |  | $ | 6.3 |  |  | $ | 5.6 |
Accrued liabilities |  |  | 1.3 |  |  |  | 0.1 |
Other non-current liabilities |  |  | 13.0 |  |  |  | 12.1 |
Total accrued benefit |  | $ | 14.4 |  |  | $ | 12.2 |
All costs related to our pensions are included as a component of operating income in our Condensed Consolidated Statements of Operations. For the quarters ended June 30, 2023 and 2022, amounts unrelated to service costs were a charge of $1.0 million and $0.9 million, respectively. For the six months ended June 30, 2023 and 2022, amounts unrelated to service costs were a charge of $2.0 million and $1.9 million, respectively. Contributions We generally fund our U.S. non-qualified defined benefit retirement plans when benefit payments are incurred. We contributed approximately $0.4 million in the first six months of 2023 to cover unfunded benefits. We expect to contribute a total of $1.5 million in 2023 to cover unfunded benefits. Contributions to our European defined benefit retirement plans during the six months ended June 30, 2023 and 2022 were not material. We plan to contribute approximately $0.7 million during 2023 to our European plans. . Postretirement Health Care and Life Insurance Benefit Plans We recorded $0.5 million of net amortization gain deferral for both the six months ended June 30, 2023 and 2022. Net periodic benefit costs of our postretirement health care and life insurance benefit plans for the six months ended June 30, 2023 and 2022 were immaterial.
(In millions) |  | June 30, 2023 |  |  | December 31, 2022 |
Amounts recognized on the balance sheet: |  |  |  |  |  |
Accrued liabilities |  | $ | 0.2 |  |  | $ | 0.2 |
Other non-current liabilities |  |  | 1.0 |  |  |  | 1.0 |
Total accrued benefit |  | $ | 1.2 |  |  | $ | 1.2 |
Amounts contributed in connection with our postretirement plans were immaterial for both the six months ended June 30, 2023 and 2022. We periodically fund our postretirement plans to pay covered expenses as they are incurred. We expect to contribute less than $0.2 million in 2023 to cover unfunded benefits.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section S99 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(i) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (o) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (p) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI https://asc.fasb.org/topic&trid=2235017 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 3 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (q) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(1) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (l) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(2) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration