PENSION AND POST-RETIREMENT PLANS

6 Months Ended

Jun. 30, 2023

PENSION AND POST-RETIREMENT PLANS

PENSION AND POST-RETIREMENT PLANS

12.          PENSION AND POST-RETIREMENT PLANS

The Company’s pension and post-retirement plans are described in Note 11 to the Consolidated Financial Statements included in Part II, Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Components of net periodic benefit cost and other amounts recognized in Other Comprehensive Income (Loss) for the qualified pension plans and the post-retirement benefit plans for the three and six months ended June 30, 2023 and 2022 consisted of the following:

	Pension Benefits				Post-retirement Benefits
	Three Months Ended June 30,				Three Months Ended June 30,
(In millions)	2023		2022		2023		2022
Components of net periodic benefit cost (benefit):
Service cost	$	1.0	$	1.2	$	—	$	0.1
Interest cost		2.5		1.6		0.2		0.2
Expected return on plan assets		(3.7)		(4.0)		—		—
Amortization of net loss (gain)		0.4		0.9		(0.5)		0.2
Amortization of prior service credit		—		(0.2)		(0.9)		(0.9)
Net periodic benefit cost (benefit)	$	0.2	$	(0.5)	$	(1.2)	$	(0.4)

	Pension Benefits				Post-retirement Benefits
	Six Months Ended June 30,				Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
Components of net periodic benefit cost (benefit):
Service cost	$	2.0	$	2.4	$	0.1	$	0.3
Interest cost		5.0		3.3		0.4		0.4
Expected return on plan assets		(7.4)		(7.9)		—		—
Amortization of net loss (gain)		0.7		1.7		(1.0)		0.4
Amortization of prior service credit		—		(0.5)		(1.8)		(1.8)
Net periodic benefit cost (benefit)	$	0.3	$	(1.0)	$	(2.3)	$	(0.7)