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Pension and Other Postretirement Benefits
6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits

Note 9 – Pension and Other Postretirement Benefits

Contributions to the Corporation’s employee benefit plans were as follows:

 

 

Six Months Ended June 30,

 

 

 

2026

 

2025

 

U.S. defined benefit pension plans

 

$

1,262

 

$

1,680

 

U.S. nonqualified defined benefit pension plans (e.g. payments)

 

$

321

 

$

384

 

Foreign defined benefit pension plans

 

$

142

 

$

193

 

Other postretirement benefits (e.g., net payments)

 

$

129

 

$

181

 

Foreign defined contribution pension plans

 

$

127

 

$

139

 

U.S. defined contribution plan

 

$

877

 

$

1,565

 

Net periodic pension and other postretirement benefit costs included the following components:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

U.S. Defined Benefit Pension Plans (a)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Service cost

 

$

5

 

 

$

2

 

 

$

10

 

 

$

9

 

Interest cost

 

 

1,949

 

 

 

2,223

 

 

 

3,938

 

 

 

4,472

 

Expected return on plan assets

 

 

(2,495

)

 

 

(2,769

)

 

 

(4,988

)

 

 

(5,640

)

Amortization of actuarial loss (gain)

 

 

182

 

 

 

(55

)

 

 

448

 

 

 

87

 

Net benefit income

 

$

(359

)

 

$

(599

)

 

$

(592

)

 

$

(1,072

)

(a) Includes the nonqualified defined benefit pension plans.

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

Foreign Defined Benefit Pension Plans(b)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Service cost

 

$

9

 

 

$

34

 

 

$

18

 

 

$

60

 

Interest cost

 

 

48

 

 

 

484

 

 

 

96

 

 

 

941

 

Expected return on plan assets

 

 

 

 

 

(556

)

 

 

 

 

 

(1,081

)

Amortization of prior service credit

 

 

 

 

 

(74

)

 

 

 

 

 

(144

)

Amortization of actuarial loss

 

 

2

 

 

 

208

 

 

 

5

 

 

 

405

 

Net benefit expense

 

$

59

 

 

$

96

 

 

$

119

 

 

$

181

 

 

(b) Includes UES-UK for the three and six months ended June 30, 2025.

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

Other Postretirement Benefit Plans

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Service cost

 

$

30

 

 

$

27

 

 

$

64

 

 

$

69

 

Interest cost

 

 

63

 

 

 

86

 

 

 

151

 

 

 

176

 

Amortization of prior service credit

 

 

(256

)

 

 

(256

)

 

 

(512

)

 

 

(512

)

Amortization of actuarial gain

 

 

(92

)

 

 

(81

)

 

 

(172

)

 

 

(159

)

Net benefit income

 

$

(255

)

 

$

(224

)

 

$

(469

)

 

$

(426

)