Benefit Plans

3 Months Ended

Mar. 31, 2024

Benefit Plans [Abstract]

Benefit Plans

Note 10.  Benefit Plans

The Company and its subsidiaries have pension plans covering the majority of eligible employees on a contributory or non-contributory basis.  The Company also provides postretirement health care and life insurance benefits for the majority of its U.S. retired employees.  Disclosures for the U.S. plans have been combined with those outside of the U.S. as the international plans do not have significantly different assumptions, and together represent less than 21% of our total benefit obligation.

Components of Net Periodic Benefit Cost

	Pension Benefits
	Three Months Ended
(in millions of dollars)	Mar. 31, 2024			Apr. 2, 2023
Service cost	$	1.2		$	1.2
Interest cost		4.0			3.9
Expected return on plan assets		(5.0	)		(4.5	)
Amortization:
Recognized net actuarial loss		0.4			0.6
Net periodic benefit cost	$	0.6		$	1.2

	Post-Retirement Benefits
	Three Months Ended
(in millions of dollars)	Mar. 31, 2024			Apr. 2, 2023
Service cost	$	—		$	—
Interest cost		—			—
Amortization:
Recognized net actuarial (gain)		(0.1	)		(0.1	)
Net periodic benefit cost	$	(0.1	)	$	(0.1	)

Amortization amounts of prior service costs and recognized net actuarial losses are recorded, net of tax, as increases to accumulated other comprehensive income.

The Company expects to contribute approximately $13.2 million to its pension plans and $0.1 million to its other postretirement benefit plans in 2024.  As of March 31, 2024, approximately $1.0 million has been contributed to the pension plans and no contributions have been made to the other postretirement benefit plans.