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Pension Plans
 3 Months Ended
Mar. 31, 2023
Retirement Benefits [Abstract]  
Pension Plans

Note 6 – Pension Plans

The Company uses a December 31 measurement date for the Preformed Line Products Company Employees’ Retirement Plan (the “U.S. Plan”). Net periodic pension expense (income) for the U.S. Plan for the three months ended March 31, 2023 and 2022, respectively, follows:

 

 

 

 

Three Months Ended March 31,

 

 

 

 

 

2023

 

 

2022

 

Interest cost

 

 

 

$

392

 

 

$

297

 

Expected return on plan assets

 

 

 

 

(501

)

 

 

(601

)

Recognized net actuarial loss

 

 

 

 

117

 

 

 

117

 

Net periodic pension expense (income)

 

 

 

$

8

 

 

$

(187

)

There were no contributions to the U.S. Plan during the three months ended March 31, 2023 and 2022. The Company is currently evaluating the option to contribute to the U.S. Plan in 2023. Components of retirement benefits expense (income) are included in Other expense (income), net in the Consolidated Statements of Income.