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Pension and Other Retiree Benefits | 6 Months Ended
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Jun. 30, 2024
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, 2024 and 2023 were as follows:
|  | Three Months Ended June 30, |
|  | Pension |  |  | Post-retirement |
|  | U.S. |  |  | International |  |  |  |  |  |  |
(in millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 1.9 |  |  |  | 2.0 |  |  |  | 4.6 |  |  |  | 5.0 |  |  |  | — |  |  |  | — |
Expected return on plan assets |  |  | (3.2 | ) |  |  | (3.0 | ) |  |  | (4.9 | ) |  |  | (5.4 | ) |  |  | — |  |  |  | — |
Amortization of net loss (gain) |  |  | 0.6 |  |  |  | 0.6 |  |  |  | 1.3 |  |  |  | 1.1 |  |  |  | (0.1 | ) |  |  | (0.1 | )
Amortization of prior service cost |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  | — |  |  |  | — |
Settlement (1) |  |  | — |  |  |  | — |  |  |  | 4.4 |  |  |  | — |  |  |  | — |  |  |  | — |
Net periodic benefit (income) cost (2) |  | $ | (0.7 | ) |  | $ | (0.4 | ) |  | $ | 5.7 |  |  | $ | 0.9 |  |  | $ | (0.1 | ) |  | $ | (0.1 | )
|  | Six Months Ended June 30, |
|  | Pension |  |  | Post-retirement |
|  | U.S. |  |  | International |  |  |  |  |  |  |
(in millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | 0.4 |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 3.8 |  |  |  | 4.0 |  |  |  | 9.2 |  |  |  | 9.9 |  |  |  | — |  |  |  | — |
Expected return on plan assets |  |  | (6.4 | ) |  |  | (6.0 | ) |  |  | (9.7 | ) |  |  | (10.7 | ) |  |  | — |  |  |  | — |
Amortization of net loss (gain) |  |  | 1.2 |  |  |  | 1.2 |  |  |  | 2.6 |  |  |  | 2.1 |  |  |  | (0.2 | ) |  |  | (0.2 | )
Amortization of prior service cost |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |
Settlement (1) |  |  | — |  |  |  | — |  |  |  | 4.4 |  |  |  | — |  |  |  | — |  |  |  | — |
Net periodic benefit (income) cost (2) |  | $ | (1.4 | ) |  | $ | (0.8 | ) |  | $ | 7.0 |  |  | $ | 1.7 |  |  | $ | (0.2 | ) |  | $ | (0.2 | )
(1) Settlement of $4.4 million resulting from the wind-up of the ACCO Brands Canada Salaried and Hourly pension plans being completed in the second quarter of 2024. (2) The components of net periodic benefit (income) cost, other than service cost, are included in the line "Non-operating pension expense" in the Consolidated Statements of (Loss) Income. We expect to contribute approximately $15.9 million to our defined benefit plans in 2024. For the six months ended June 30, 2024, we have contributed $6.7 million to these plans.

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