Defined Benefit and Postretirement Benefits

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Defined Benefit and Postretirement Benefits

Defined Benefit and Postretirement Benefits

For all plans, the components of net periodic benefit for the three months ended June 30, 2023, and 2022 are as follows:

	Pension				Postretirement
(in millions)	2023		2022		2023		2022
Service cost	$	0.4	$	0.5	$	—	$	—
Interest cost	0.6		0.2		0.2		0.1
Expected return on plan assets	(0.8)		(0.7)		—		—
Amortization of prior service cost	(0.2)		(0.2)		(0.2)		(0.2)
Amortization of net loss	—		0.2		(0.2)		—
Net periodic benefit	$	—	$	—	$	(0.2)	$	(0.1)

For all plans, the components of net periodic benefit for the six months ended June 30, 2023, and 2022 are as follows:

	Pension				Postretirement
(in millions)	2023		2022		2023		2022
Service cost	$	0.9	$	1.1	$	—	$	0.1
Interest cost	1.1		0.4		0.4		0.3
Expected return on plan assets	(1.6)		(1.5)		—		—
Amortization of prior service cost	(0.4)		(0.4)		(0.5)		(0.5)
Amortization of net loss	—		0.4		(0.3)		—
Net periodic benefit	$	—	$	—	$	(0.4)	$	(0.1)

The components of net periodic benefit, other than the service cost component, are included in “Miscellaneous income, net” in our Unaudited Consolidated and Combined Condensed Statements of Operations. Service cost is recorded within “Cost of sales” and “Selling, general and administrative” in our Unaudited Consolidated and Combined Condensed Statements of Operations.

We expect to contribute the following to our pension and postretirement plans:

(in millions)	Pension		Postretirement
Expected contributions in 2023	$	1.9	$	1.8
Amounts contributed during the six months ended June 30, 2023	$	1.2	$	1.7