Quarterly report [Sections 13 or 15(d)]

Benefit Plans

v3.26.1
Benefit Plans
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Benefit Plans
14. Benefit Plans:
The following table presents the components of net periodic (benefit) expense for the Company-sponsored defined benefit pension plan, which cover certain employees and retirees located in the U.S.:
Defined Benefit Pension Plans
Three months ended
June 30,		 Six months ended
June 30,
2026 2025 2026 2025
Interest cost $ 783  $ 820  $ 1,572  $ 1,642 
Expected return on plan assets (825) (808) (1,667) (1,617)
Settlement gain (9) (1) (28) (1)
Net periodic (benefit) expense $ (51) $ 11  $ (123) $ 24 
Net periodic (benefit) expense for the Company-sponsored postretirement benefit plan was immaterial for the three and six months ended June 30, 2026 and 2025. All components of net periodic (benefit) expense are presented within other expense, net in the Company’s condensed consolidated statements of income.
In conjunction with the Calabrian Acquisition, the Company acquired the Calabrian Corporation Retirement Plan (the "Calabrian Plan"). The Calabrian Plan is administered by Principal Financial Group and was frozen on August 27, 2010. The Company assumed $1,542 of pension assets and $1,435 of pension liabilities, a net asset of $107, which is included in other long-term assets in the Company’s condensed consolidated balance sheets.