XML 26 R16.htm IDEA: XBRL DOCUMENT v3.24.3
Pension and Other Postretirement Benefits
 3 Months Ended
Sep. 30, 2024
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS
The table below summarizes the components of net periodic pension expense (income):
Three Months Ended September 30,
(in thousands)20242023
Service cost$228 $297 
Interest cost8,505 8,907 
Expected return on plan assets(10,662)(11,161)
Amortization of transition obligation— 19 
Amortization of prior service credit(2)(1)
Recognition of actuarial losses2,102 1,444 
Settlement837 — 
Net periodic pension expense (income)$1,008 $(495)
During the three months ended September 30, 2024, the Company completed the wind-up of its Canadian defined benefit pension plans and recorded a settlement charge of $0.8 million.
The table below summarizes the components of net periodic other postretirement benefit cost:
Three Months Ended September 30,
(in thousands)20242023
Interest cost$98 $107 
Amortization of prior service credit(63)(63)
Recognition of actuarial loss34 34 
Net periodic other postretirement benefit cost$69 $78 
The service cost component of net periodic pension expense (income) is reported as a component of cost of goods sold and operating expense. All other components of net periodic pension expense (income) and net periodic other postretirement benefit cost are reported as a component of other (income) expense, net.