Employee Benefit Plans and Other Postretirement Benefits

9 Months Ended

Sep. 30, 2024

Retirement Benefits [Abstract]

Employee Benefit Plans and Other Postretirement Benefits

13. Employee Benefit Plans and Other Postretirement Benefits

The components of net periodic benefit cost for our pension plans were as follows (dollars in millions):

	Pension Plans
	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Service cost	$	2.9		$	3.3		$	9.2		$	10.5
Interest cost		13.8			13.8			41.5			41.9
Expected return on plan assets		(16.4	)		(14.2	)		(49.3	)		(42.8	)
Net amortization of unrecognized amounts
Prior service cost		1.4			1.3			4.1			3.9
Actuarial loss		0.1			1.0			0.5			3.1
Net periodic benefit cost	$	1.8		$	5.2		$	6.0		$	16.6

PCA makes pension plan contributions that are sufficient to fund its actuarially determined costs, generally equal to the minimum amounts required by the Employee Retirement Income Security Act (ERISA). From time to time, PCA may make additional discretionary contributions based on the funded status of the plans, tax deductibility, income from operations, and other factors. During both the three and nine months ended September 30, 2024 and 2023, payments to our nonqualified pension plans were insignificant. During the three and nine months ended September 30, 2024 and 2023, we made contributions of $25.0 million and $50.0 million, respectively, to our qualified pension plans. We do not have a required minimum contribution amount for 2024, but we made discretionary contributions to our plans during the three and nine months ended September 30, 2024.

For both the three and nine months ended September 30, 2024 and 2023, the net periodic benefit cost for our postretirement plans was insignificant.