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Pension and Postretirement Benefit Costs | 3 Months Ended
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Mar. 31, 2025
Retirement Benefits [Abstract] |
Pension and Postretirement Benefit Costs | Pension and Postretirement Benefit Costs The components of net periodic pension, postretirement benefit and workers’ compensation costs, excluding the service cost for benefits earned, are included in “Net periodic benefit credit, excluding service cost” in the unaudited condensed consolidated statements of operations. The Company sponsors a qualified pension plan. Annual contributions to the qualified plan are made in accordance with minimum funding standards and the Company’s agreement with the Pension Benefit Guaranty Corporation (PBGC). Funding decisions also consider certain funded status thresholds defined by the Pension Protection Act of 2006. As of March 31, 2025, the qualified plan was expected to be at or above the Pension Protection Act thresholds. The Company is not required to make any cash contributions to the qualified plan in 2025 based on minimum funding requirements. During the three months ended March 31, 2025, the Company made a discretionary cash contribution of $5.0 million to the qualified plan which allowed for termination of the Company’s agreement with the PBGC and resulted in the release of a $37.0 million letter of credit that had been maintained in favor of the PBGC. Net periodic postretirement benefit credit included the following components:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
|  |  |  |  | (Dollars in millions)
Service cost for benefits earned |  |  |  |  | $ | 0.1 |  |  | $ | 0.1 |
Interest cost on accumulated postretirement benefit obligation |  |  |  |  | 2.0 |  |  | 2.3 |
Expected return on plan assets |  |  |  |  | (0.1) |  |  | (0.1) |
Amortization of prior service credit |  |  |  |  | (10.2) |  |  | (13.2) |
Net periodic postretirement benefit credit |  |  |  |  | $ | (8.2) |  |  | $ | (10.9) |
The Company has established a Voluntary Employees’ Beneficiary Association (VEBA) trust to pre-fund a portion of benefits for non-represented retirees. The Company does not expect to make any discretionary contributions to the VEBA trust in 2025 and plans to utilize a portion of VEBA assets to make certain benefit payments.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/712/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/710/tableOfContent Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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- References No definition available. + Details
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