Company: PLPC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000080035-25-000022
Chunk: 13

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 13
---
 in the third quarter of 2025 through the purchase of a group annuity contract. Prior to the termination, the U.S. Plan was amended to provide certain participants who are not currently receiving benefits the opportunity during an election period of April 1, 2025 to May 31, 2025 to elect to receive their benefit in the form of a lump sum. Lump-sum payments of approximately $13.1 million were made during July and August of 2025 in connection with such elections. In August 2025, the Company contributed approximately $2.9 million to the U.S. Plan and purchased an annuity contract through a financial institution for approximately $18.0 million to fully liquidate the U.S. Plan.Due to the termination of the U.S. Plan in August 2025, the Company remeasured the U.S. Plan at August 31, 2025. In the third quarter, the Company recorded a total non-cash pre-tax charge associated with the U.S. Plan termination of $11.7 million, of which $8.8 million represents the acceleration of deferred charges previously accrued in accumulated other comprehensive loss and $2.9 million represents the actuarial loss. This non-cash pre-tax charge is recognized within the pension termination expense line item on the Statement of Consolidated Income.Excluding the pension termination charges, net periodic pension expense for the U.S. Plan for the three- and nine-month periods ended September 30, 2025 and 2024, respectively, follows:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Interest cost$268 $387 $1,058 $1,162 Expected return on plan assets(239)(485)(942)(1,456)Recognized net actuarial loss110 117 432 351 Net periodic pension expense$139 $19 $548 $57 Components of the recurring pension expense are included in Other income, net in the Consolidated Statements of Income.

13

NOTE 7 - ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI")The following tables set forth the total changes in AOCI by component, net of tax:Three Months Ended September 30, 2025Three Months Ended September 30, 2024UnrecognizedBenefit Cost CumulativeTranslationAdjustment Total UnrecognizedBenefit Cost CumulativeTranslationAdjustment Total Balance at June 30$(5,127)