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Pension and Postretirement Benefits | 6 Months Ended
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Jun. 30, 2025
Retirement Benefits [Abstract] |
Pension and Postretirement Benefits | NOTE 17. PENSION AND POSTRETIREMENT BENEFITS The components of net periodic benefit cost of our pension and postretirement benefit plans for the three months ended June 30, 2025 and 2024 consist of the following:
|  | Domestic Plans |  |  |  |  |  |  |
|  | Pension Plans |  |  | Postretirement Benefit Plans |  |  | Foreign Pension Plans |
(in thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | 6 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 50 |
Interest cost |  |  | 142 |  |  |  | 201 |  |  |  | 107 |  |  |  | 91 |  |  |  | 75 |  |  |  | 77 |
Expected return on plan assets |  |  | (67 | ) |  |  | (57 | ) |  |  | — |  |  |  | — |  |  |  | (52 | ) |  |  | (79 | )
Amortization of prior service cost |  |  | (431 | ) |  |  | (10 | ) |  |  | 9 |  |  |  | 19 |  |  |  | 11 |  |  |  | — |
Recognized net actuarial loss (gain) |  |  | 5,970 |  |  |  | 79 |  |  |  | (56 | ) |  |  | (38 | ) |  |  | 5 |  |  |  | 23 |
Net periodic benefit cost |  | $ | 5,614 |  |  | $ | 213 |  |  | $ | 66 |  |  | $ | 78 |  |  | $ | 39 |  |  | $ | 71 |
The components of net periodic benefit cost of our pension and postretirement benefit plans for the six months ended June 30, 2025 and 2024 consist of the following:
|  | Domestic Plans |  |  |  |  |  |  |
|  | Pension Plans |  |  | Postretirement Benefit Plans |  |  | Foreign Pension Plans |
(in thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | 11 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 101 |
Interest cost |  |  | 350 |  |  |  | 402 |  |  |  | 216 |  |  |  | 182 |  |  |  | 147 |  |  |  | 155 |
Expected return on plan assets |  |  | (130 | ) |  |  | (114 | ) |  |  | — |  |  |  | — |  |  |  | (102 | ) |  |  | (159 | )
Amortization of prior service cost |  |  | (441 | ) |  |  | (20 | ) |  |  | 17 |  |  |  | 38 |  |  |  | 21 |  |  |  | — |
Recognized net actuarial loss (gain) |  |  | 6,033 |  |  |  | 158 |  |  |  | (80 | ) |  |  | (76 | ) |  |  | 12 |  |  |  | 47 |
Net periodic benefit cost |  | $ | 5,812 |  |  | $ | 426 |  |  | $ | 164 |  |  | $ | 156 |  |  | $ | 78 |  |  | $ | 144 |
We expect to contribute $1.9 million to our funded pension plans, $1.4 million to our unfunded pension plans, and $0.8 million to our postretirement benefit plans in 2025. During the six months ended June 30, 2025, we contributed $1.8 million to our funded pension plans, $1.1 million to our unfunded pension plans, and $0.3 million to our postretirement benefit plans. Additionally, during the three and six months ended June 30, 2025, we completed the termination and settlement of the Giltspur, Inc. Employees’ Pension Plan, which resulted in a reclassification of previously recorded prior service cost and net actuarial loss within AOCL to other expense, net of approximately $5.4 million.

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