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Employee Benefits Plans
 6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Employee Benefit Plans
(10)
Employee Benefit Plans

 

Components of Net Periodic Expense

 

The components of net periodic expense were as follows (in millions):

 

 

Defined Benefit Pension Plan

 

Supplemental Non-qualified Defined Benefit Plans

 

Non-pension Defined Benefit Postretirement Healthcare Plan

 

Three Months Ended June 30,

2024

 

2023

 

2024

 

2023

 

2024

 

2023

 

Service cost

$

0.6

 

$

0.6

 

$

0.7

 

$

0.8

 

$

0.4

 

$

0.4

 

Interest cost

 

4.1

 

 

4.4

 

 

0.3

 

 

0.3

 

 

0.6

 

 

0.6

 

Expected return on plan assets

 

(4.5

)

 

(4.7

)

 

-

 

 

-

 

 

(0.1

)

 

(0.1

)

Net amortization of prior service costs

 

-

 

 

-

 

 

-

 

 

-

 

 

0.1

 

 

-

 

Recognized net actuarial loss

 

0.5

 

 

0.5

 

 

-

 

 

-

 

 

-

 

 

-

 

Net periodic expense

$

0.7

 

$

0.8

 

$

1.0

 

$

1.1

 

$

1.0

 

$

0.9

 

 

 

Defined Benefit Pension Plan

 

Supplemental Non-qualified Defined Benefit Plans

 

Non-pension Defined Benefit Postretirement Healthcare Plan

 

Six Months Ended June 30,

2024

 

2023

 

2024

 

2023

 

2024

 

2023

 

Service cost

$

1.1

 

$

1.2

 

$

1.6

 

$

1.7

 

$

0.8

 

$

0.8

 

Interest cost

 

8.2

 

 

8.7

 

 

0.7

 

 

0.7

 

 

1.2

 

 

1.2

 

Expected return on plan assets

 

(9.0

)

 

(9.3

)

 

-

 

 

-

 

 

(0.1

)

 

(0.1

)

Net amortization of prior service costs

 

-

 

 

-

 

 

-

 

 

-

 

 

0.1

 

 

-

 

Recognized net actuarial loss

 

1.0

 

 

1.0

 

 

-

 

 

-

 

 

-

 

 

-

 

Net periodic expense

$

1.3

 

$

1.6

 

$

2.3

 

$

2.4

 

$

2.0

 

$

1.9

 

 

Plan Contributions

 

Contributions to the Defined Benefit Pension Plan are cash contributions made directly to the Pension Plan Trust account. Contributions to the Postretirement Healthcare and Supplemental Plans are primarily made in the form of benefit payments. Contributions made in the first six months of 2024 and anticipated contributions for 2024 and 2025 are as follows (in millions):

 

 

Contributions Made

 

Additional Contributions

 

Contributions

 

 

Six Months Ended June 30, 2024

 

Anticipated for
2024

 

Anticipated for
2025

 

Defined Benefit Pension Plan

$

2.3

 

$

-

 

$

1.8

 

Non-pension Defined Benefit Postretirement Healthcare Plan

$

2.3

 

$

2.3

 

$

4.4

 

Supplemental Non-qualified Defined Benefit and Defined Contribution Plans

$

1.2

 

$

1.2

 

$

2.8