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v3.23.3

Benefit Plans (Tables) | 9 Months Ended
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Sep. 30, 2023
Retirement Benefits [Abstract] |
Components of Net Periodic Benefit Cost | The following tables set forth the net periodic benefit cost for the Company’s U.S. defined benefit pension plans:
|  | Successor |  |  | Predecessor
|  | Period from |  |  | Period from |  | Three months ended
|  | 08/12/2023 through 09/30/2023 |  |  | 07/01/2023 through 08/11/2023 |  | September 30, 2022
Components of net periodic benefit cost |  |  |  |  |  |  |
Interest cost |  | $ | 2.7 |  |  |  | $ | 2.2 |  |  | $ | 4.5 |
Expected return on plan assets |  | (2.1) |  |  |  | (2.0) |  |  | (4.3) |
Recognized net actuarial loss |  | — |  |  |  | — |  |  | 0.2 |
Settlement loss recognized |  | — |  |  |  | — |  |  | 14.3 |
Net periodic pension benefit cost |  | $ | 0.6 |  |  |  | $ | 0.2 |  |  | $ | 14.7 |
|  | Successor |  |  | Predecessor
|  | Period from |  |  | Period from |  | Nine months ended
|  | 08/12/2023 through 09/30/2023 |  |  | 01/01/2023 through 08/11/2023 |  | September 30, 2022
Components of net periodic benefit cost |  |  |  |  |  |  |
Interest cost |  | $ | 2.7 |  |  |  | $ | 11.9 |  |  | $ | 13.0 |
Expected return on plan assets |  | (2.1) |  |  |  | (11.0) |  |  | (15.9) |
Recognized net actuarial loss |  | — |  |  |  | 0.4 |  |  | 3.3 |
Settlement loss recognized |  | — |  |  |  | — |  |  | 14.3 |
Net periodic pension benefit cost |  | $ | 0.6 |  |  |  | $ | 1.3 |  |  | $ | 14.7 |
The following tables set forth the net periodic benefit cost for the Company’s Non-U.S. defined benefit pension plans:
|  | Successor |  |  | Predecessor
|  | Period from |  |  | Period from |  | Three months ended
|  | 08/12/2023 through 09/30/2023 |  |  | 07/01/2023 through 08/11/2023 |  | September 30, 2022
Components of net periodic benefit cost |  |  |  |  |  |  |
Service cost |  | $ | 1.0 |  |  |  | $ | 0.8 |  |  | $ | 2.4 |
Interest cost |  | 1.6 |  |  |  | 1.5 |  |  | 1.1 |
Expected return on plan assets |  | (2.0) |  |  |  | (1.7) |  |  | (3.8) |
Recognized net actuarial gain |  | — |  |  |  | (0.5) |  |  | (0.4) |
Amortization of prior service cost |  | — |  |  |  | (0.1) |  |  | (0.1) |
Settlement gain recognized |  | — |  |  |  | (2.1) |  |  | — |
Net periodic pension benefit cost |  | $ | 0.6 |  |  |  | $ | (2.1) |  |  | $ | (0.8) |
|  | Successor |  |  | Predecessor
|  | Period from |  |  | Period from |  | Nine months ended
|  | 08/12/2023 through 09/30/2023 |  |  | 01/01/2023 through 08/11/2023 |  | September 30, 2022
Components of net periodic benefit cost |  |  |  |  |  |  |
Service cost |  | $ | 1.0 |  |  |  | $ | 3.9 |  |  | $ | 7.1 |
Interest cost |  | 1.6 |  |  |  | 7.2 |  |  | 3.3 |
Expected return on plan assets |  | (2.0) |  |  |  | (8.4) |  |  | (11.6) |
Recognized net actuarial gain |  | — |  |  |  | (2.3) |  |  | (1.3) |
Amortization of prior service cost |  | — |  |  |  | (0.5) |  |  | (0.3) |
Settlement gain recognized |  | — |  |  |  | (2.1) |  |  | — |
Net periodic pension benefit cost |  | $ | 0.6 |  |  |  | $ | (2.2) |  |  | $ | (2.8) |
The following tables set forth the net periodic benefit cost for the Company’s other benefit plans during the period:
|  | Successor |  |  | Predecessor
|  | Period from |  |  | Period from |  | Three months ended
|  | 08/12/2023 through 09/30/2023 |  |  | 07/01/2023 through 08/11/2023 |  | September 30, 2022
Components of net periodic benefit cost |  |  |  |  |  |  |
Interest cost |  | $ | — |  |  |  | $ | 0.1 |  |  | $ | 0.1 |
Recognized net actuarial gain |  | — |  |  |  | (0.1) |  |  | (0.1) |
Net periodic pension benefit cost |  | $ | — |  |  |  | $ | — |  |  | $ | — |
|  | Successor |  |  | Predecessor
|  | Period from |  |  | Period from |  | Nine months ended
|  | 08/12/2023 through 09/30/2023 |  |  | 01/01/2023 through 08/11/2023 |  | September 30, 2022
Components of net periodic benefit cost |  |  |  |  |  |  |
Interest cost |  | $ | — |  |  |  | $ | 0.2 |  |  | $ | 0.2 |
Recognized net actuarial gain |  | — |  |  |  | (0.3) |  |  | (0.3) |
Net periodic pension benefit cost |  | $ | — |  |  |  | $ | (0.1) |  |  | $ | (0.1) |
The following table represents the weighted-average assumptions used to determine net periodic benefit cost:
|  | Successor |  |  | Predecessor
|  | September 30, 2023 |  |  | December 31, 2022
|  | U.S. Plans |  | Non-U.S. Plans |  | Other Benefits |  |  | U.S. Plans |  | Non-U.S. Plans |  | Other Benefits
Discount rate |  | 3.16% |  | 2.38% |  | 6.83% |  |  | 2.99% |  | 2.39% |  | 4.22%
Expected long-term return on plan assets |  | 5.25% |  | 3.75% |  | N/A |  |  | 5.25% |  | 3.30% |  | N/A
Rate of compensation increase |  | N/A |  | 3.88% |  | N/A |  |  | N/A |  | 3.89% |  | N/A

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