v3.24.2
Retirement Plans
 6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Retirement Plans Retirement Plans
The funded status of our defined benefit plans, which represents the difference between the fair value of plan assets and the projected benefit obligations, is recognized in the Consolidated Balance Sheets with a corresponding adjustment to accumulated other comprehensive income (loss). Gains and losses for the differences between actuarial assumptions and actual results are recognized through accumulated other comprehensive income (loss). These amounts will be subsequently recognized as net periodic pension cost (income) within the Consolidated Statements of Operations.
NOTE 11 - Retirement Plans (Continued)
Our United Kingdom subsidiary has a defined benefit pension plan covering all eligible employees (the “UK Plan”); however, no individual joining the company after October 31, 2001 may participate in the UK Plan. On May 31, 2010, we curtailed the future accrual of benefits for active employees under such plan.
We also sponsor three domestic retirement plans in which participation by new individuals is frozen. Amounts related to these domestic retirement plans were de minimis for all periods presented.
Components of Net Periodic Pension Cost
The components of net periodic pension (income) cost of the UK Plan for the three and six months ended June 30, 2024 and 2023 were as follows (in thousands): 
 
For the three months ended
June 30,
For the six months ended
June 30,
 2024202320242023
Interest cost$2,362 $2,451 $4,738 $4,827 
Expected return on plan assets(3,213)(2,878)(6,445)(5,669)
Amortization of unrecognized loss648 658 1,301 1,297 
Net periodic pension (income) cost
$(203)$231 $(406)$455