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Employee Benefits (Tables) | 6 Months Ended
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Jun. 30, 2023
Retirement Benefits [Abstract] |
Schedule of Total Expense (Benefit) Related to Benefit Plans | The following table presents the total expense (benefit) related to all postretirement benefit plans (in millions of dollars):
|  | Quarter Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Defined contribution plans 1 |  | $ | 4.3 |  |  | $ | 4.0 |  |  | $ | 10.1 |  |  | $ | 9.7 |
Deferred compensation plan 2 |  |  | 0.4 |  |  |  | (0.5 | ) |  |  | 0.6 |  |  |  | (0.8 | )
Multiemployer pension plans 1 |  |  | 1.4 |  |  |  | 1.4 |  |  |  | 2.8 |  |  |  | 2.6 |
Net periodic postretirement benefit cost relating to defined benefit plans 2,3 |  |  | 3.3 |  |  |  | 3.3 |  |  |  | 6.4 |  |  |  | 6.5 |
Total |  | $ | 9.4 |  |  | $ | 8.2 |  |  | $ | 19.9 |  |  | $ | 18.0 |
1 Substantially all of the expense related to employee benefits are in Cost of products sold, excluding depreciation and amortization (“Cost of products sold” or “COGS”) with the remaining balance in Selling, general, administrative, research and development (“SG&A and R&D”). 2 Deferred compensation plan expense and the current service cost component of Net periodic postretirement benefit cost relating to the voluntary employees’ beneficiary association that provides benefits for certain eligible retirees and their surviving spouses and eligible dependents (“Salaried VEBA”) are included within our Statements of Consolidated Income (Loss) in SG&A and R&D for all periods presented. All other components of Net periodic postretirement benefit cost relating to Salaried VEBA are included within Other (expense) income, net, on our Statements of Consolidated Income (Loss). 3 The current service cost component of Net periodic postretirement benefit cost relating to the pension plans and the healthcare and life insurance postretirement benefit plan (“OPEB”) are included within our Statements of Consolidated Income (Loss) in COGS for all periods presented. All other components of Net periodic postretirement benefit cost relating to the pension plans and the OPEB are included within Other (expense) income, net, on our Statements of Consolidated Income (Loss).
Schedule of Net Benefit Costs | The following table presents the components of Net periodic postretirement benefit cost relating to the defined benefit plans (in millions of dollars):
|  | Pension Plans |  |  | OPEB |  |  | Salaried VEBA |
|  | Quarter Ended June 30, |  |  | Quarter Ended June 30, |  |  | Quarter Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Service cost |  | $ | 0.8 |  |  | $ | 1.4 |  |  | $ | 0.2 |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 0.3 |  |  |  | 0.1 |  |  |  | 0.9 |  |  |  | 0.6 |  |  |  | 0.7 |  |  |  | 0.4 |
Expected return on plan assets |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | — |  |  |  | — |  |  |  | (0.5 | ) |  |  | (0.7 | )
Amortization of prior service cost 1 |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1.3 |  |  |  | 1.3 |
Amortization of net actuarial loss (gain) |  |  | — |  |  |  | — |  |  |  | (0.3 | ) |  |  | — |  |  |  | — |  |  |  | — |
Total net periodic postretirement benefit cost |  | $ | 1.0 |  |  | $ | 1.3 |  |  | $ | 0.8 |  |  | $ | 1.0 |  |  | $ | 1.5 |  |  | $ | 1.0 |
|  | Pension Plans |  |  | OPEB |  |  | Salaried VEBA |
|  | Six Months Ended June 30, |  |  | Six Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Service cost |  | $ | 1.8 |  |  | $ | 2.8 |  |  | $ | 0.5 |  |  | $ | 0.8 |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 0.6 |  |  |  | 0.3 |  |  |  | 1.7 |  |  |  | 1.1 |  |  |  | 1.4 |  |  |  | 0.9 |
Expected return on plan assets |  |  | (0.5 | ) |  |  | (0.4 | ) |  |  | — |  |  |  | — |  |  |  | (1.1 | ) |  |  | (1.5 | )
Amortization of prior service cost 1 |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2.5 |  |  |  | 2.5 |
Amortization of net actuarial loss (gain) |  |  | — |  |  |  | — |  |  |  | (0.6 | ) |  |  | — |  |  |  | — |  |  |  | — |
Total net periodic postretirement benefit cost |  | $ | 2.0 |  |  | $ | 2.7 |  |  | $ | 1.6 |  |  | $ | 1.9 |  |  | $ | 2.8 |  |  | $ | 1.9 |
1 We amortize prior service cost on a straight-line basis over the average remaining years of service to full eligibility for benefits of the active plan participants.

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- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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