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Defined Benefit Pension Plans
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Defined Benefit Pension Plans

6. Defined Benefit Pension Plans

Net periodic cost related to all of the Company's defined benefit pension plans recognized in the Company's unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 included the following components:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

June 30,
2025

 

 

June 30,
2024

 

 

June 30,
2025

 

 

June 30,
2024

 

Service cost

 

$

441

 

 

$

378

 

 

$

871

 

 

$

762

 

Interest cost

 

 

5,424

 

 

 

5,734

 

 

 

10,784

 

 

 

11,480

 

Expected return on assets

 

 

(6,138

)

 

 

(6,414

)

 

 

(12,227

)

 

 

(12,823

)

Amortization of actuarial loss

 

 

3,127

 

 

 

3,128

 

 

 

6,244

 

 

 

6,314

 

Net periodic cost

 

$

2,854

 

 

$

2,826

 

 

$

5,672

 

 

$

5,733

 

 

For the three months ended June 30, 2025 and 2024, the non-service components of net periodic pension expense totaled $2,413,000 and $2,448,000, respectively. For the six months ended June 30, 2025 and 2024, the non-service components of net periodic pension expense totaled $4,801,000 and $4,971,000, respectively. These amounts are included in "Other Loss, net" on the unaudited Condensed Consolidated Statements of Operations.

 

For the six months ended June 30, 2025, the Company made no contributions to the U.S. defined benefit pension plan and contributed $1,555,000 to the U.K. defined benefit pension plans, as compared with no contributions to the U.S. defined benefit pension plan and contributed $1,205,000 to the U.K. defined benefit pension plans during the six months ended June 30, 2024.