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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
Actuarial information regarding these plans is as follows:
2024
Americold Retirement
Income Plan (ARIP)
National
Service-Related Pension Plan (NSRPP)
Other
Post-Retirement Benefits (OPRB)
SuperannuationAustria PlansTotal
Change in benefit obligation:
(In thousands)
Benefit obligation – January 1, 2024
$— $(27,138)$(503)$(1,559)$(2,509)(31,709)
Service cost
— — — (44)(74)(118)
Interest cost
— (1,262)(20)(74)(70)(1,426)
Actuarial gain (loss)
— 1,610 16 (109)274 1,791 
Benefits paid
— 1,344 — 45 131 1,520 
Plan participants’ contributions
— — — (16)— (16)
Foreign currency translation gain
— — — 143 158 301 
Effect of settlement
— 2,094 33 — — 2,127 
Benefit obligation – end of year
$— $(23,352)$(474)$(1,614)$(2,090)$(27,530)
Change in plan assets:
Fair value of plan assets – January 1, 2024
$— $27,365 $— $1,633 $1,314 $30,312 
Actual return on plan assets
— 472 — 539 39 1,050 
Employer contributions
— — 33 — 134 167 
Benefits paid
— (1,344)— (116)(41)(1,501)
Effect of settlement
— (2,094)(33)— — (2,127)
Plan participants’ contributions
— — — 43 — 43 
Foreign currency translation loss
— — — (436)(66)(502)
Others
— — — — (273)(273)
Fair value of plan assets – end of year
— 24,399 — 1,663 1,107 27,169 
Funded status
$ $1,047 $(474)$49 $(983)$(361)
Amounts recognized on the consolidated balance sheet as of December 31, 2024:
Pension and post-retirement asset (liability)
$— $1,047 $(474)$49 $(983)$(361)
Accumulated other comprehensive (income) loss
— (1,030)(74)96 (307)(1,315)
Amounts in accumulated other comprehensive loss (income) consist of:
Net (gain) loss
$— $(1,030)$(74)$96 $(307)$(1,315)
Other changes in plan assets and benefit obligations recognized in other comprehensive loss (income):
Net (gain) loss
$— $(700)$(16)$13 $99 $(604)
Amortization of net loss (gain)
— 60 — (21)44 
Amount recognized due to special event
— 44 — — 49 
Foreign currency translation gain
— — — (4)— (4)
Total recognized in other comprehensive loss (income)
$ $(596)$(6)$9 $78 $(515)
Information for plans with accumulated benefit obligation in excess of plan assets:
Projected benefit obligation
 N/A  N/A $474 $1,614 $2,090 $4,178 
Accumulated benefit obligation
 N/A  N/A $474 $1,482 $1,833 $3,789 
Fair value of plan assets
 N/A  N/A $— $1,663 $1,107 $2,770 
2023
Americold Retirement
Income Plan (ARIP)
National
Service-Related Pension Plan (NSRPP)
Other
Post-Retirement Benefits (OPRB)
SuperannuationAustria PlansTotal
Change in benefit obligation:
(In thousands)
Benefit obligation – January 1, 2023
$(33,811)$(26,604)$(493)$(1,268)$(2,421)$(64,597)
Service cost
— — — (48)(102)(150)
Interest cost
(1,603)(1,322)(21)(64)(84)(3,094)
Actuarial (loss) gain
(1,199)(474)11 (209)130 (1,741)
Benefits paid
1,487 1,262 — 48 44 2,841 
Plan participants’ contributions
— — — (18)— (18)
Foreign currency translation loss
— — — — (76)(76)
Effect of settlement
35,126 — — — — 35,126 
Benefit obligation – end of year
$— $(27,138)$(503)$(1,559)$(2,509)$(31,709)
Change in plan assets:
Fair value of plan assets – January 1, 2023
$34,992 $26,999 $— $1,508 $1,143 $64,642 
Actual return on plan assets
403 1,629 — 335 (21)2,346 
Employer contributions
1,216 — — — 115 1,331 
Benefits paid
(1,486)(1,263)— (103)— (2,852)
Effect of settlement
(35,125)— — — — (35,125)
Plan participants’ contributions
— — — 47 — 47 
Foreign currency translation (loss) gain
— — — (154)77 (77)
Fair value of plan assets – end of year
— 27,365 — 1,633 1,314 30,312 
Funded status
$ $227 $(503)$74 $(1,195)$(1,397)
Amounts recognized on the consolidated balance sheet as of December 31, 2023:
Pension and post-retirement asset (liability)
$— $227 $(503)$74 $(1,195)$(1,397)
Accumulated other comprehensive loss (income)
3,699 (267)(68)93 (142)$3,315 
Amounts in accumulated other comprehensive loss (income) consist of:
Net loss (gain)
$3,699 $(267)$(68)$93 $(142)$3,315 
Other changes in plan assets and benefit obligations recognized in other comprehensive loss (income):
Net loss (gain)
$1,880 $199 $(8)$121 $(130)$2,062 
Amortization of net (gain) loss
(646)77 — (14)(581)
Amount recognized due to settlement
(2,152)— — — — (2,152)
Foreign currency translation gain
— — — (35)— (35)
Effect of tax
3,005 — — — — 3,005 
Total recognized in other comprehensive loss (income)
$2,087 $276 $(6)$86 $(144)$2,299 
Information for plans with accumulated benefit obligation in excess of plan assets:
Projected benefit obligation
N/AN/A$503 $1,559 $2,509 $4,571 
Accumulated benefit obligation
N/AN/A$504 $1,412 $2,215 $4,131 
Fair value of plan assets
N/AN/A$— $1,633 $1,312 $2,945 
Schedule of Net Periodic Benefit Costs
The components of net period benefit cost for the years ended December 31, 2024, 2023 and 2022 are as follows:
December 31, 2024
Americold Retirement
Income Plan (ARIP)
National
Service-Related Pension Plan (NSRPP)
Other
Post-Retirement Benefits (OPRB)
SuperannuationAustria PlansTotal
Components of net periodic benefit cost:
(In thousands)
Service cost
$— $— $— $44 $74 $118 
Interest cost
— 1,262 20 74 70 1,426 
Expected return on plan assets
— (1,214)— (117)— (1,331)
Amortization of net (gain) loss
— (60)(5)— 21 (44)
Effect of settlement
— (44)(5)— — (49)
Net pension benefit (income) cost
$ $(56)$10 $1 $165 $120 
December 31, 2023
Americold Retirement
Income Plan (ARIP)
National
Service-Related Pension Plan (NSRPP)
Other
Post-Retirement Benefits (OPRB)
SuperannuationAustria PlansTotal
Components of net periodic benefit cost:
(In thousands)
Service cost
$— $— $— $48 $102 150 
Interest cost
1,603 1,322 21 64 84 3,094 
Expected return on plan assets
(1,120)(1,285)— (69)— (2,474)
Amortization of net loss (gain)
646 (77)(2)— 14 581 
Effect of settlement
2,152 — — — — 2,152 
Net pension benefit cost (income)
$3,281 $(40)$19 $43 $200 $3,503 
December 31, 2022
Americold Retirement
Income Plan (ARIP)
National
Service-Related Pension Plan (NSRPP)
Other
Post-Retirement Benefits (OPRB)
SuperannuationAustria PlansTotal
Components of net periodic benefit cost:
(In thousands)
Service cost
$— $— $— $47 $97 144 
Interest cost
1,025 990 11 31 22 2,079 
Expected return on plan assets
(2,702)(2,094)— (77)— (4,873)
Amortization of net loss (gain)
101 117 — — (13)205 
Amortization of prior service cost
— — — 21 — 21 
Effect of settlement
319 — (11)— — 308 
Net pension benefit (income) cost
$(1,257)$(987)$ $22 $106 $(2,116)
Schedule of Assumptions Used
The weighted average assumptions used to determine benefit obligations and net period benefit costs for the years ended December 31, 2024, 2023 and 2022 are as follows:
December 31, 2024
ARIPNSRPPOPRBSuperannuationAustria Plans
Weighted-average assumptions used to determine obligations (balance sheet):
Discount rate
 N/A 5.48%4.95%5.30%3.12%
Rate of compensation increase
 N/A  N/A  N/A 3.00%3.00%
Weighted-average assumptions used to determine net periodic benefit cost (statement of operations):
Discount rate
 N/A 4.82%4.57%5.25%3.41%
Expected return on plan assets
 N/A 5.50% N/A 7.50% N/A
Rate of compensation increase
 N/A  N/A  N/A 3.00% N/A
December 31, 2023
ARIPNSRPPOPRBSuperannuationAustria Plans
Weighted-average assumptions used to determine obligations (balance sheet):
Discount rate
N/A4.90%4.57%5.25%3.41%
Rate of compensation increase
N/AN/AN/A3.00%3.00%
Weighted-average assumptions used to determine net periodic benefit cost (statement of operations):
Discount rate
N/A5.11%4.81%5.40%3.78%
Expected return on plan assets
N/A5.50%N/A5.00%N/A
Rate of compensation increase
N/AN/AN/A2.50%N/A
December 31, 2022
ARIPNSRPPOPRBSuperannuationAustria Plans
Weighted-average assumptions used to determine obligations (balance sheet):
Discount rate
5.02%5.11%4.81%5.40%3.78%
Rate of compensation increase
N/AN/AN/A2.50%3.00%
Weighted-average assumptions used to determine net periodic benefit cost (statement of operations):
Discount rate
2.49%2.77%1.95%2.55%0.94%
Expected return on plan assets
6.50%6.50%N/A5.00%N/A
Rate of compensation increase
N/AN/AN/A2.50%N/A
Schedule of Allocation of Plan Assets
The fair values of the Company’s pension plan assets by category, are as follows:
December 31, 2024
Level 1Level 2Level 3Total
Assets
(In thousands)
U.S. equities:
Large cap
$— $1,800 $— $1,800 
Fixed-income securities:
Money markets
— 124 — 124 
U.S. bonds(1)
22,052 — — 22,052 
Real estate(2)
— 423 — 423 
Common/collective trusts
— 1,663 — 1,663 
Other— — 1,107 1,107 
Total assets
$22,052 $4,010 $1,107 $27,169 
December 31, 2023
Level 1Level 2Level 3Total
Assets
(In thousands)
U.S. equities:
Large cap
$— $1,207 $— $1,207 
Fixed-income securities:
Money markets
— — — — 
U.S. bonds(1)
24,564 — — 24,564 
Real estate(2)
— 1,597 — 1,597 
Common/collective trusts
— 1,621 — 1,621 
Other— — 1,323 1,323 
Total assets
$24,564 $4,425 $1,323 $30,312 
(1)Includes publicly traded funds which primarily hold debt and fixed-income securities.
(2)Includes funds in a separate account held by a regulated investment company that invest primarily in commercial real estate and includes mortgage loans which are backed by the associated properties. The Company can call the investment in these assets with no restrictions.
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future services, as appropriate, are expected to be paid for all plans as of December 31, 2024:
Years Ending December 31:
(In thousands)
2025$2,204 
20262,011 
20272,044 
20281,930 
20292,028 
Thereafter13,542 
Total
$23,759 
Schedule of Multiemployer Plans The table below presents the amounts charged to expense within the Consolidated Statements of Operations for the Company’s contributions to the multi-employer plans for the years ended December 31, 2024, 2023 and 2022.
Pension FundEINZone StatusAmericold Contributions
202420232022
(In thousands)
Central Pension Fund of the International Union of Operating Engineers and Participating Employers(1)
36-6052390Green$64$7$8
Central States SE & SW Areas Health and Welfare Pension Plans(2)(3)
36-6044243Red39,546
New England Teamsters & Trucking Industry Pension Plan(4)
04-6372430Red592655
Alternative New England Teamsters & Trucking Industry Pension Plan
04-6372430Red230288326
I.U.O.E Stationary Engineers Local 39 Pension Fund(2)
94-6118939Green114138181
United Food & Commercial Workers International Union Industry Pension Fund(5)(6)
51-6055922Green109
Western Conference of Teamsters Pension Fund(2)(3)
91-6145047Green2,8132,8667,586
Minneapolis Food Distributing Industry Pension Plan(2)
41-6047047Green154175136
WWEC Local 863 Pension Fund26-3541447Yellow383,1272,389
Total Contributions(7)
$3,413$7,196$20,936
(1)The status information is for the plan’s year end at January 31, 2024 and 2023.
(2)The status information is for the plans’ year end at December 31, 2024 and 2023.
(3)A portion of the Company’s participation in this plan related to Third-party managed sites that the Company no longer manages as of December 31, 2022.
(4)The status information is for the plan’s year end at September 30, 2024 and 2023. The Company withdrew from the multi-employer plan on October 31, 2017. The related liability of $6.0 million as of December 31, 2024 is reflected in “Other liabilities” on the accompanying Consolidated Balance Sheets and will be repaid over the next 23 years.
(5)The status information is for the plan’s year end at June 30, 2024 and 2023.
(6)As of December 31, 2022, the Company no longer participates in this fund as the Company no longer manages the related Third-party managed sites.
(7)Approximately 70% of total contributions made during each of the year ended December 31, 2022, related to Third-party managed sites that the Company has ceased operating agreements for as of December 31, 2022, and for which it received reimbursement of these costs. As a result of ceasing the operating agreements, the Company will no longer be required to contribute to these Funds related to the former Third-party managed operations