Pension and Other Benefits

6 Months Ended

Jun. 30, 2023

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Pension and Other Benefits

Pension and Other Benefits

The following table sets forth the components of net pension and other benefit costs for the three and six months ended June 30, 2023 and 2022 (in millions):

	Pension Benefits				Other Benefits
	2023		2022		2023		2022
Three Months Ended June 30,
Service cost	$	0.1	$	0.2	$	—	$	—
Interest cost	8.8		6.3		0.2		0.1
Expected return on plan assets	(7.0)		(8.2)		—		—
Amortization of prior service cost	0.1		0.1		—		—
Amortization of actuarial losses (gains)	2.6		2.6		(0.1)		(0.1)
Settlement losses	—		5.8		—		—
NET PERIODIC BENEFIT COST	$	4.6	$	6.8	$	0.1	$	—
Six Months Ended June 30,
Service cost	$	0.2	$	0.4	$	—	$	—
Interest cost	17.5		12.6		0.4		0.2
Expected return on plan assets	(14.0)		(16.4)		—		—
Amortization of prior service cost	0.2		0.2		—		—
Amortization of actuarial losses (gains)	5.2		5.2		(0.2)		(0.2)
Settlement losses	—		5.8		—		—
NET PERIODIC BENEFIT COST	$	9.1	$	7.8	$	0.2	$	—

In the second quarter of 2022, the Company recorded $4.4 million of settlement losses in continuing operations and $1.4 million of settlement losses in discontinued operations relating to retirees that elected to receive lump-sum distributions from the Company's defined benefit pension plans. This charge was the result of lump-sum payments which exceeded the threshold for settlement accounting under U.S. GAAP for the year.

Employer Contributions

The Company made no contributions to its qualified domestic defined benefit pension plan and no contributions to its foreign pension plans during the six months ended June 30, 2023. Although not required by ERISA and the Internal Revenue Code, the Company may elect to make additional voluntary contributions to its qualified domestic defined benefit pension plan in 2023.