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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Employee Benefit Plans  
Schedule of funded status of the defined benefit plans and amounts recognized in the consolidated balance sheets

    

Year Ended

    

Year Ended

    

December 31, 2024

    

December 31, 2023

(in millions)

Change in projected benefit obligation

Balance at beginning of period

$

73.5

$

68.0

Service cost

Administration costs paid

Interest cost

1.9

0.7

Actuarial loss (gain)

(6.3)

5.5

Annuity benefits paid

(4.1)

(0.7)

Lump sum benefits paid

(15.0)

Annuity sale to insurer

(50.0)

Balance at end of year

$

$

73.5

Change in fair value of plan assets

Balance at beginning of period

$

74.4

$

67.9

Actual gain (loss) on plan assets

2.5

7.2

Employer contributions

Administration costs paid

Annuity benefits paid

(4.1)

(0.7)

Lump sum settlement benefits paid

(15.0)

Annuity settlement sale to insurer

(50.0)

Transfer surplus assets

(7.8)

Fair value of plan assets at end of the year

$

$

74.4

Funded (underfunded) status at end of year

$

$

0.9

    

December 31, 2024

    

December 31, 2023

(in millions)

Current liabilities

$

$

Noncurrent assets (liabilities)

0.9

Net amount recognized

$

$

0.9

Schedule of amounts recognized in accumulated other comprehensive income

    

December 31, 2024

    

December 31, 2023

(in millions)

Net actuarial gain recognized

$

(6.9)

$

(0.9)

Settlement gain

7.8

Change in period

$

0.9

$

(0.9)

Schedule of the components of net periodic benefit cost

    

Year Ended

    

Year Ended

    

December 31, 2024

    

December 31, 2023

(in millions)

Service cost - benefits earned

$

$

Interest costs on benefit obligation

1.9

0.7

Expected return on plan assets

(2.0)

(0.7)

Settlement gain

$

(7.8)

$

Net periodic benefit income

$

(7.9)

$

Schedule of weighted average assumptions used to determine benefit obligations

    

December 31, 2024

    

December 31, 2023

(in millions)

Discount rate

N/A

%

4.64

%

Schedule of weighted-average assumptions used to determine net periodic benefit costs

    

December 31, 2024

    

December 31, 2023

(in millions)

Discount rate

4.64

%

5.36

%

Long-term rate of return on plan assets

4.64

%

5.60

%

Schedule of the weighted average asset allocations by asset category

Asset Category

Cash

39

%

Equity

-

Fixed Income

61

Total

100

%

Schedule of the investments in the pension plan measured at fair value

    

December 31, 2023

Level 1

Level 2

Level 3

Total

(in millions)

Cash

$

28.9

$

$

$

28.9

Fixed income securities

Corporate notes

31.7

31.7

Treasury notes

12.7

12.7

Other investments(a)

1.7

1.7

Total investments

$

43.3

$

31.7

$

$

75.0

(a)Includes Aetna Co. Annuity Contract and accrued interest and dividends
Information related to the company's pension funds cash flow

    

Year Ended

    

Year Ended

    

December 31, 2024

    

December 31, 2023

(in millions)

Employer contributions

$

$

Benefit payments

4.1

0.7

Lump sum settlement benefits paid

15.0

Annuity settlement sale to insurer

50.0