Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

The status of the funded defined benefit pension plan and the unfunded accumulated post-retirement benefit plans as of December 31, 2023 and 2022, and are shown below (in millions):


	Pension Benefits				Other Post-retirement Benefits				Non-qualified Plan Benefits
	2023		2022		2023		2022		2023		2022
Change in Benefit Obligation
Benefit obligation at beginning of year	$	—	$	227.2	$	8.1	$	12.6	$	2.0	$	3.1
Service cost	—		1.4		0.1		0.1		—		—
Interest cost	—		0.7		0.4		0.4		0.1		0.1
Plan participants’ contributions	—		—		0.6		0.6		—		—
Actuarial (gain) loss2	—		(44.5)		(0.1)		(2.2)		—		(0.6)
Benefits paid	—		(13.9)		(1.2)		(1.2)		—		—


Settlement	—		(170.9)		—		(2.2)		—		(0.6)

Benefit obligation at end of year	$	—	$	—	$	7.9	$	8.1	$	2.1	$	2.0

Change in Plan Assets
Fair value of plan assets at beginning of year	$	—	$	186.6	$	—	$	—	$	—	$	—
Actual return on plan assets	—		(27.1)		—		—		—		—
Employer contributions	—		25.3		0.6		2.8		—		0.6
Participant contributions	—		—		0.6		0.6		—		—

Benefits paid	—		(13.9)		(1.2)		(1.2)		—		—
Settlement	—		(170.9)		—		(2.2)		—		(0.6)

Fair value of plan assets at end of year	$	—	$	—	$	—	$	—	$	—	$	—

Funded Status (Recognized Liability1)	$	—	$	—	$	(7.9)	$	(8.1)	$	(2.1)	$	(2.0)

1 Presented as Accrued pension and post-retirement benefits in the accompanying consolidated balance sheets as of December 31, 2023 and 2022.
2 Defined benefit pension plan actuarial gains in the changes in benefit obligations for 2022 resulted primarily from favorable lump sum election and insurer annuity pricing upon pension termination.

Schedule of Expected Benefit Payments

The estimated future benefit payments for the next ten years are as follows (in millions):


	2024		2025		2026		2027		2028		2029-2033
Estimated Benefit Payments
Post-retirement Benefits	$	0.6	$	0.6	$	0.6	$	0.6	$	0.5	$	2.5
Non-qualified Plan Benefits	1.6		0.5		—		—		—		—
Total	$	2.2	$	1.1	$	0.6	$	0.6	$	0.5	$	2.5

Schedule of Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss

Components of the net periodic benefit cost and other amounts recognized in other comprehensive income (loss) for the defined benefit pension plans and the post-retirement health care and life insurance benefit plans during the years ended December 31, 2023, 2022, and 2021, are shown below (in millions):


	Pension Benefits						Other Post-retirement Benefits						Non-qualified Plan Benefits
Components of Net Periodic Benefit Cost	2023		2022		2021		2023		2022		2021		2023		2022		2021
Service cost	$	—	$	1.4	$	1.2	$	0.1	$	0.1	$	0.1	$	—	$	—	$	—
Interest cost	—		0.7		5.1		0.4		0.4		0.3		0.1		0.1		—
Expected return on plan assets	—		(2.6)		(5.0)		—		—		—		—		—		—
Amortization of net loss	—		1.7		2.5		—		0.1		—		—		0.1		0.1
Amortization of prior service cost	—		0.1		—		—		—		—		—		—		—

Pension termination	—		76.7		—		—		0.1		—		—		0.1		—
Net periodic benefit cost	$	—	$	78.0	$	3.8	$	0.5	$	0.7	$	0.4	$	0.1	$	0.3	$	0.1

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)
Net gain (loss)	$	—	$	14.4	$	(28.0)	$	0.1	$	2.2	$	0.6	$	—	$	0.4	$	—
Amortization of net loss1	—		1.7		2.6		—		0.1		0.1		—		0.1		0.1


Amortization of prior service credit1	—		0.1		—		—		—		—		—		—		—

Pension termination1	—		76.7		—		—		0.1		—		—		0.1		—
Income taxes related to other comprehensive income (loss)1	—		(18.3)		—		—		(0.1)		—		—		0.1		—
Total recognized in Other comprehensive income (loss)	—		74.6		(25.4)		0.1		2.3		0.7		—		0.7		0.1
Total recognized in net periodic benefit cost and Other comprehensive income (loss)	$	—	$	(3.4)	$	(29.2)	$	(0.4)	$	1.6	$	0.3	$	(0.1)	$	0.4	$	—

1 Represents amortization or recognition of balances previously recorded to Accumulated other comprehensive income (loss) in the consolidated balance sheets and recognized as a component of net periodic benefit cost.

Schedule of Amounts Recognized on the Consolidated Balance Sheets and in Accumulated Other Comprehensive Loss

Amounts recognized on the consolidated balance sheets in accumulated other comprehensive income (loss) as of December 31, 2023 and 2022, were as follows (in millions):


	Pension Benefits				Other Post-retirement Benefits				Non-qualified Plan Benefits
	2023		2022		2023		2022		2023		2022
Net gain (loss), net of taxes	$	—	$	—	$	0.2	$	0.3	$	—	$	—
Unrecognized prior service credit (cost), net of taxes	—		—		—		—		—		—
Total Accumulated other comprehensive income (loss)	$	—	$	—	$	0.2	$	0.3	$	—	$	—

Schedule of Weighted Average Assumptions used to Determine Benefit Information

The weighted average assumptions used to determine benefit information during the years ended December 31, 2023, 2022, and 2021, were as follows:


	Pension Benefits			Other Post-retirement Benefits			Non-qualified Plan Benefits
	2023	2022	2021	2023	2022	2021	2023	2022	2021
Weighted Average Assumptions
Discount rate to determine benefit obligations	N/A	N/A	2.26%	5.15%	5.41%	2.86%	5.19%	5.24%	1.68%
Discount rate to determine net cost	N/A	N/A	2.39%	5.41%	3.51%	2.48%	5.24%	1.68%	1.07%
Rate of compensation increase	N/A	N/A	N/A	0.5%-3.0%	0.5%-3.0%	0.5%-3.0%	N/A	N/A	N/A
Expected return on plan assets	N/A	N/A	2.60%	N/A	N/A	N/A	N/A	N/A	N/A
Interest crediting rates	N/A	N/A	2.15%	N/A	N/A	N/A	2.15%	2.15%	2.15%
Initial health care cost trend rate	N/A	N/A	N/A	6.20%	5.90%	5.90%	N/A	N/A	N/A
Ultimate rate	N/A	N/A	N/A	4.00%	4.00%	4.00%	N/A	N/A	N/A
Year ultimate rate is reached	N/A	N/A	N/A	2045	2045	2045	N/A	N/A	N/A