Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 53

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 53
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ars in thousands)Confirmed obligations outstanding at the beginning of the year$330,153 $346,804 Invoices confirmed during the year575,592 583,939 Confirmed invoices paid during the year(602,038)(600,590)Obligations outstanding at the end of the year$303,707 $330,153 

F-28

SILGAN HOLDINGS INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

NOTE 13. RETIREMENT BENEFITS

We sponsor a number of defined benefit and defined contribution pension plans which cover substantially all U.S. employees, other than union employees covered by multiemployer defined benefit pension plans under collective bargaining agreements. Pension benefits are provided based on either a career average, final pay or years of service formula. With respect to certain hourly employees, pension benefits are provided based on stated amounts for each year of service. Our U.S. salaried pension plans are closed to new employees.We also sponsor other postretirement benefits plans, including unfunded defined benefit health care and life insurance plans, which provide postretirement benefits to certain employees. The plans are contributory, with retiree contributions adjusted annually, and contain cost sharing features including deductibles and coinsurance. Retiree health care benefits are paid as covered expenses are incurred.The changes in benefit obligations and plan assets as well as the funded status of our retirement plans at December 31 were as follows: Pension BenefitsOtherPostretirement Benefits 2024202320242023 (Dollars in thousands)Change in benefit obligationObligation at beginning of year$698,726 $674,104 $13,373 $14,447 Service cost8,415 8,573 27 50 Interest cost33,868 34,725 644 745 Actuarial (gains) losses (18,748)22,938 (65)645 Special termination benefits— 577 — — Plan amendments— (76)(339)— Curtailment gain(239)— — (1,103)Benefits paid(62,056)(45,006)(1,703)(1,430)Participants’ contributions— — 18 19 Foreign currency exchange rate changes(5,995)2,891 — — Obligation at end of year653,971 698