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Pension and Other Retiree Benefits
 6 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Pension and Other Retiree Benefits

5. Pension and Other Retiree Benefits

 

The components of net periodic benefit (income) cost for pension and post-retirement plans for the three and six months ended June 30, 2023 and 2022 were as follows:

 

 

 

Three Months Ended June 30,

 

 

 

Pension

 

 

Post-retirement

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

(in millions)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Service cost

$

 

—

 

$

 

—

 

$

 

0.1

 

$

 

0.2

 

$

 

—

 

$

 

—

 

Interest cost

 

 

2.0

 

 

 

1.2

 

 

 

5.0

 

 

 

2.4

 

 

 

—

 

 

 

—

 

Expected return on plan assets

 

 

(3.0

)

 

 

(2.7

)

 

 

(5.4

)

 

 

(4.5

)

 

 

—

 

 

 

—

 

Amortization of net loss (gain)

 

 

0.6

 

 

 

0.9

 

 

 

1.1

 

 

 

1.3

 

 

 

(0.1

)

 

 

(0.1

)

Amortization of prior service cost

 

 

—

 

 

 

—

 

 

 

0.1

 

 

 

0.1

 

 

 

—

 

 

 

—

 

Net periodic benefit (income) cost (1)

$

 

(0.4

)

$

 

(0.6

)

$

 

0.9

 

$

 

(0.5

)

$

 

(0.1

)

$

 

(0.1

)

 

 

 

Six Months Ended June 30,

 

 

 

Pension

 

 

Post-retirement

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

(in millions)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Service cost

$

 

—

 

$

 

—

 

$

 

0.2

 

$

 

0.5

 

$

 

—

 

$

 

—

 

Interest cost

 

 

4.0

 

 

 

2.4

 

 

 

9.9

 

 

 

4.9

 

 

 

—

 

 

 

—

 

Expected return on plan assets

 

 

(6.0

)

 

 

(5.4

)

 

 

(10.7

)

 

 

(9.1

)

 

 

—

 

 

 

—

 

Amortization of net loss (gain)

 

 

1.2

 

 

 

1.8

 

 

 

2.1

 

 

 

2.7

 

 

 

(0.2

)

 

 

(0.2

)

Amortization of prior service cost

 

 

—

 

 

 

—

 

 

 

0.2

 

 

 

0.1

 

 

 

—

 

 

 

—

 

Net periodic benefit (income) cost (1)

$

 

(0.8

)

$

 

(1.2

)

$

 

1.7

 

$

 

(0.9

)

$

 

(0.2

)

$

 

(0.2

)

 

(1)
The components of net periodic benefit (income) cost, other than service cost, are included in the line "Non-operating pension expense (income)" in the Consolidated Statements of Income.

 

We expect to contribute approximately $16.8 million to our defined benefit plans in 2023. For the six months ended June 30, 2023, we have contributed $6.4 million to these plans.