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Pension Plans
 6 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Pension Plans

NOTE F – PENSION PLANS

The Company uses a December 31 measurement date for the Preformed Line Products Company Employees’ Retirement Plan (the “Plan”). Net periodic benefit for our U.S. pension plan for the three months ended June 30, 2022 and 2021, respectively, follow:

 

 

 

Three Months Ended June 30

 

 

Six Months Ended June 30

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Service cost

 

$

0

 

 

$

0

 

 

$

0

 

 

$

0

 

Interest cost

 

 

297

 

 

 

282

 

 

 

594

 

 

 

564

 

Expected return on plan assets

 

 

(601

)

 

 

(586

)

 

 

(1,202

)

 

 

(1,172

)

Recognized net actuarial loss

 

 

117

 

 

 

149

 

 

 

234

 

 

 

298

 

Net periodic pension benefit

 

$

(187

)

 

$

(155

)

 

$

(374

)

 

$

(310

)

 

There were no contributions to the Plan during the six months ended June 30, 2022. The Company is evaluating whether to contribute additional funds to the Plan during the remainder of 2022.