v3.26.1
Employee Benefits
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Employee Benefits

NOTE 8: EMPLOYEE BENEFITS

The following tables summarize the components of net periodic benefit cost (credit) for the Ryerson pension plans and postretirement benefit plans other than pension:

 

 

 

Three Months Ended June 30,

 

 

 

Pension Benefits

 

 

Other Benefits

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(In millions)

 

Components of net periodic benefit cost (credit)

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

0.3

 

 

$

0.4

 

 

$

0.1

 

 

$

0.1

 

Interest cost

 

 

3.3

 

 

 

3.6

 

 

 

0.4

 

 

 

0.4

 

Expected return on assets

 

 

(3.6

)

 

 

(3.8

)

 

 

—

 

 

 

—

 

Settlement gain

 

 

(0.3

)

 

 

(0.3

)

 

 

—

 

 

 

—

 

Recognized actuarial (gain) loss

 

 

1.4

 

 

 

1.1

 

 

 

(1.5

)

 

 

(1.7

)

Net periodic benefit cost (credit)

 

$

1.1

 

 

$

1.0

 

 

$

(1.0

)

 

$

(1.2

)

 

 

 

Six Months Ended June 30,

 

 

 

Pension Benefits

 

 

Other Benefits

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(In millions)

 

Components of net periodic benefit cost (credit)

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

0.6

 

 

$

0.7

 

 

 

0.1

 

 

$

0.1

 

Interest cost

 

 

6.6

 

 

 

7.3

 

 

 

0.7

 

 

 

0.8

 

Expected return on assets

 

 

(7.1

)

 

 

(7.6

)

 

 

—

 

 

 

—

 

Settlement gain

 

 

(0.5

)

 

 

(0.5

)

 

 

—

 

 

 

—

 

Recognized actuarial (gain) loss

 

 

2.7

 

 

 

2.2

 

 

 

(2.9

)

 

 

(3.4

)

Net periodic benefit cost (credit)

 

$

2.3

 

 

$

2.1

 

 

$

(2.1

)

 

$

(2.5

)

 

Components of net periodic benefit cost (credit), excluding service cost, are included in Other income and (expense), net in the Condensed Consolidated Statement of Comprehensive Income.

In 2025, the CSW Pension Plan had, and in 2026 it is expected to have, lump sum payments in excess of service cost and interest cost. Therefore, a settlement gain of $0.5 million was recorded in the first six months of both 2025 and 2026. The pension settlements were recorded within Other income and (expense), net within the Condensed Consolidated Statement of Comprehensive Income for the six months ended June 30, 2026 and 2025.

The Company contributed $6.1 million to the pension plan funds through the six months ended June 30, 2026, and anticipates that it will have a minimum required pension contribution funding of approximately $5.3 million for the remaining six months of 2026.