The
following table sets forth the estimate of the combined funded status of the pension plans and their reconciliation to the related amounts
recognized in our consolidated financial statements at the respective measurement dates:
Schedule of Pension Plans and their Reconciliation
| | |
June 30, 2023 | | |
December 31, 2022 | |
| | |
(in millions) | |
| Change in benefit obligation: | |
| | | |
| | |
| Benefit obligation at beginning of period | |
$ | 71.2 | | |
$ | 122.7 | |
| Interest cost | |
| 1.7 | | |
| 2.2 | |
| Actuarial gain | |
| — | | |
| (39.0 | ) |
| Benefits paid | |
| (1.5 | ) | |
| (3.5 | ) |
| Foreign currency translation adjustments | |
| 3.8 | | |
| (11.2 | ) |
| Benefit obligation at end of period | |
$ | 75.2 | | |
$ | 71.2 | |
| Change in plan assets: | |
| | | |
| | |
| Fair value of plan assets at beginning of period | |
$ | 69.1 | | |
$ | 125.7 | |
| Actual return (loss) on plan assets | |
| 1.9 | | |
| (42.4 | ) |
| Employer contributions | |
| 0.7 | | |
| 1.4 | |
| Benefits paid | |
| (1.5 | ) | |
| (3.5 | ) |
| Foreign currency translation adjustments | |
| 3.7 | | |
| (12.1 | ) |
| Fair value of assets at end of period | |
$ | 73.9 | | |
$ | 69.1 | |
| Amount recognized in the consolidated balance sheets: | |
| | | |
| | |
| Unfunded status (non-current) | |
$ | (1.3 | ) | |
$ | (2.1 | ) |
| Net amount recognized | |
$ | (1.3 | ) | |
$ | (2.1 | ) |
|