XML 32 R21.htm IDEA: XBRL DOCUMENT v3.22.2.2
Postretirement and Other Benefits
9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Postretirement and Other Benefits Postretirement and Other Benefits
The Company sponsors pension benefits in the United States, France, United Kingdom, Germany, Italy, Netherlands, and Canada and OPEB benefits related to postretirement healthcare and life insurance in the United States, Germany, and Canada. The Company’s pension benefits in Italy and Canada and Canadian OPEB liability are not material and therefore are not included in the following disclosures.

In connection with the Merger, the Company assumed Neenah's pension and OPEB plans. In addition, Neenah has a supplemental employee retirement plan ("SERP"), which is a non-qualified defined benefit plan, and a supplemental retirement contribution plan ("SRCP"), which is a non-qualified, unfunded defined contribution plan. The Company provides benefits under the non-qualified SERP and SRCP plans to the extent necessary to fulfill the intent of its retirement plans without regard to the limitations set by the Internal Revenue Code on qualified retirement benefit plans.

Pension and OPEB Benefits

The components of net pension benefit costs for the employees in the United States, France, United Kingdom Germany, and Netherlands were as follows (in millions):
Three Months Ended September 30,
 U.S. Pension PlansNon-U.S. Pension Plans
 2022202120222021
Service cost$0.5 $— $0.7 $0.5 
Interest cost4.1 0.7 2.0 0.9 
Expected return on plan assets(5.0)(1.0)(1.9)(1.0)
Amortizations and other0.5 0.9 0.1 0.2 
Net periodic benefit cost$0.1 $0.6 $0.9 $0.6 
Nine Months Ended September 30,
 U.S. Pension PlansNon-U.S. Pension Plans
 2022202120222021
Service cost$0.5 $— $1.4 $1.2 
Interest cost5.7 2.1 3.2 1.8 
Expected return on plan assets(7.0)(3.0)(3.2)(1.9)
Amortizations and other1.3 2.7 0.4 0.7 
Net periodic benefit cost$0.5 $1.8 $1.8 $1.8 
The components of net periodic benefit cost other than the service cost component are included in Other income, net in the unaudited Condensed Consolidated Statements of Income/(Loss).