Retirement Benefit Plans

3 Months Ended

Mar. 31, 2023

Pension Plan

Defined Benefit Plan Disclosure [Line Items]

Retirement Benefit Plans

Note 16 - Retirement Benefit Plans

The following table sets forth the net periodic benefit cost for the Company’s defined benefit pension plans. The amounts for the three months ended March 31, 2023 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of that period’s proportionate share of the amounts to be recorded for the year ending December 31, 2023.

	U.S. Plans				International Plans				Total
	Three Months Ended March 31,				Three Months Ended March 31,				Three Months Ended March 31,
	2023		2022		2023		2022		2023		2022
Components of net periodic benefit cost (credit):
Service cost	$	0.2	$	1.9	$	0.3	$	0.4	$	0.5	$	2.3
Interest cost	4.5		4.1		2.4		1.5		6.9		5.6
Expected return on plan assets	(2.1)		(5.2)		(2.5)		(2.5)		(4.6)		(7.7)
Amortization of prior service cost	—		0.3		0.1		—		0.1		0.3
Recognition of net actuarial (gains)     losses	(0.9)		2.6		—		—		(0.9)		2.6
Net periodic benefit cost (credit)	$	1.7	$	3.7	$	0.3	$	(0.6)	$	2.0	$	3.1

For the three months ended March 31, 2023, lump sum payments related to new retirees exceeded annual interest and service costs for one of the Company's U.S. defined benefit pension plans, triggering a remeasurement of assets and obligations for this plan. As a result of this remeasurement, the Company recognized a net actuarial gain ("mark-to-market charges") of $0.9 million during the three months ended March 31, 2023.

For the three months ended March 31, 2022, the Company expected to make lump sum payments related to new retirees in excess of annual interest and service costs for one of the Company's U.S. defined benefit pension plans. This expectation triggered a remeasurement of assets and obligations for this plan. As a result of this remeasurement, the Company recognized a net actuarial loss of $2.6 million during the three months ended March 31, 2022.