PENSION AND OTHER POSTRETIREMENT BENEFITS

6 Months Ended

Jun. 30, 2022

PENSION AND OTHER POSTRETIREMENT BENEFITS

The following table summarizes the components of the Company’s net periodic benefit cost for domestic and foreign defined benefit pension plans and other postretirement benefits:


	Domestic Defined Benefit Pension Plan				Foreign Defined Benefit Pension Plans				Other Postretirement Benefits
	2022		2021		2022		2021		2022		2021
Three Months Ended June 30:
Net periodic benefit cost:
Service cost	$	1.2	$	1.2	$	1.7	$	1.8	$	0.3	$	0.4
Interest cost	0.8		0.8		0.9		1.4		1.6		1.3
Expected return on assets	(1.9)		(1.8)		(2.5)		(2.3)
Amortization of prior service cost (credit)	0.3		0.2						(0.1)		0.1
Amortization of actuarial losses					0.9		0.3		1.0		1.1
Net periodic benefit cost	$	0.4	$	0.4	$	1.0	$	1.2	$	2.8	$	2.9

Six Months Ended June 30:
Net periodic benefit cost:
Service cost	$	2.5	$	2.5	$	3.3	$	3.7	$	0.6	$	0.7
Interest cost	1.6		1.4		2.9		2.8		3.0		2.6
Expected return on assets	(3.8)		(3.6)		(5.1)		(4.8)
Amortization of prior service cost	0.5		0.5		(0.1)				(0.2)		0.1
Amortization of actuarial losses					1.0		0.7		2.1		2.3
Ongoing net periodic benefit cost	0.8		0.8		2.0		2.4		5.5		5.7
Divestiture of business							0.7
Net periodic benefit cost	$	0.8	$	0.8	$	2.0	$	3.1	$	5.5	$	5.7

Service cost is recorded in Cost of goods sold and Selling, general and administrative expenses. All other components are recorded in Other expense (income) - net. For further details on the Company’s pension and other postretirement benefits, see Note 7 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.