FRANKLIN ELECTRIC CO INC
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Employee Benefit Plans
- EMPLOYEE BENEFIT PLANS
The following table sets forth the aggregated net periodic benefit cost for all pension plans for the third quarters and nine months ended September 30, 2024 and September 30, 2023:
| (In millions) | Pension Benefits | |||
|---|---|---|---|---|
| Third Quarter Ended | Nine Months Ended | |||
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 | |
| Service cost | $0.2 | $0.2 | $0.5 | $0.5 |
| Interest cost | 1.6 | 1.7 | 4.7 | 5.0 |
| Expected return on assets | (1.9) | (1.8) | (5.7) | (5.4) |
| Amortization of: | ||||
| Prior service cost | — | — | — | — |
| Actuarial loss | 0.5 | 0.5 | 1.7 | 1.6 |
| Settlement cost | — | — | — | — |
| Net periodic benefit cost | $0.4 | $0.6 | $1.2 | $1.7 |
The following table sets forth the aggregated net periodic benefit cost for the other post-retirement benefit plan for the third quarters and nine months ended September 30, 2024 and September 30, 2023:
| (In millions) | Other Benefits | |||
|---|---|---|---|---|
| Third Quarter Ended | Nine Months Ended | |||
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 | |
| Service cost | $— | $— | $— | $— |
| Interest cost | 0.1 | 0.1 | 0.2 | 0.2 |
| Expected return on assets | — | — | — | — |
| Amortization of: | ||||
| Prior service cost | — | — | — | — |
| Actuarial loss | — | — | — | — |
| Settlement cost | — | — | — | — |
| Net periodic benefit cost | $0.1 | $0.1 | $0.2 | $0.2 |
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