Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 147

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 147
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 Company sponsors retirement benefit plans which are unfunded. There is no legal or governmental obligation to fund these plans. These benefits are paid out in a normal course of business consistent with regulatory requirements.  The U.S, U.K, Germany, and French pension plans accounted for the majority of the Company's total plan assets and total Accumulated Benefit Obligations (ABO) at December 31, 2024.

90

MATIV HOLDINGS, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The Company uses a measurement date of December 31 for its pension plans and other postretirement plans. The funded status of the pension plans as of December 31, 2024 and 2023 and the OPEB plans as of December 31, 2024 and 2023 was as follows (in millions):Pension BenefitsOther Postretirement BenefitsU.S.Non-U.S.U.S.Non-U.S.20242023202420232024202320242023Change in PBO:PBO at beginning of year(1)$342.0 $339.6 $219.5 $189.9 $23.2 $25.0 $3.8 $3.6   Acquisition— — — 0.2 — — — —   Service cost1.4 1.6 1.2 1.0 0.1 0.2 1.2 1.2   Interest cost16.9 17.7 8.7 8.4 1.1 1.2 0.1 0.1 Actuarial (gain) loss(10.5)8.6 (14.3)27.9 0.5 1.1 (0.1)0.2 Participant contributions— — — — — 0.1 — — Plan amendment— — — 0.6 — — — — Plan settlements— — (33.9)(4.8)— — — —   Gross benefits paid(26.0)(25.5)(13.8)(13.2)(4.4)(4.4)(1.7)(1.4)Currency translation  effect— — (4.5)9.5 —