Pension and Postretirement Benefits

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Pension and Postretirement Benefits

Pension and Postretirement Benefits

For all plans, the components of net periodic benefit for the three months ended June 30, 2024, and 2023 are as follows:

	Pension				Postretirement
(in millions)	2024		2023		2024		2023
Service cost	$	0.6	$	0.4	$	—	$	—
Interest cost	0.5		0.6		0.2		0.2
Expected return on plan assets	(0.8)		(0.8)		—		—
Amortization of prior service cost	(0.2)		(0.2)		(0.2)		(0.2)
Amortization of net gain	—		—		(0.2)		(0.2)
Net periodic expense (benefit)	$	0.1	$	—	$	(0.2)	$	(0.2)

For all plans, the components of net periodic benefit for the six months ended June 30, 2024, and 2023 are as follows:

	Pension				Postretirement
(in millions)	2024		2023		2024		2023
Service cost	$	1.1	$	0.9	$	—	$	—
Interest cost	1.0		1.1		0.3		0.4
Expected return on plan assets	(1.6)		(1.6)		—		—
Amortization of prior service cost	(0.4)		(0.4)		(0.4)		(0.5)
Amortization of net loss (gain)	0.1		—		(0.4)		(0.3)
Net periodic expense (benefit)	$	0.2	$	—	$	(0.5)	$	(0.4)

The components of net periodic benefit, other than the service cost component, are included in “Miscellaneous (expense) 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 2024	$	2.0	$	1.3
Amounts contributed during the six months ended June 30, 2024	$	1.1	$	1.2