Company: EME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000105634-25-000046
Chunk: 104

Company: EMCOR Group, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 has from time to time increased the amount authorized for repurchases under such program. In February 2025, our Board increased such amount by $500 million. Since the inception of the repurchase program, through June 30, 2025, the Board has authorized us to repurchase up to $3.15 billion of our outstanding common stock. During the six months ended June 30, 2025, we repurchased approximately 1.1 million shares of our common stock for approximately $423.3 million, inclusive of the applicable excise tax. Since the inception of the repurchase program through June 30, 2025, we have repurchased approximately 28.2 million shares of our common stock for approximately $2.81 billion. As of June 30, 2025, there remained authorization for us to repurchase approximately $336.2 million of our shares. The repurchase program has no expiration date, does not obligate the Company to acquire any particular amount of common stock, and may be suspended, recommenced, or discontinued at any time or from time to time without prior notice. We may repurchase our shares from time to time to the extent permitted by securities laws and other legal requirements, including provisions in our 2023 Credit Agreement placing limitations on such repurchases.

NOTE 11 - Retirement Plans

The funded status of our defined benefit plans, which represents the difference between the fair value of plan assets and the projected benefit obligations, is recognized in the Consolidated Balance Sheets with a corresponding adjustment to accumulated other comprehensive income (loss). Gains and losses for the differences between actuarial assumptions and actual results are recognized through accumulated other comprehensive income (loss). These amounts will be subsequently recognized as net periodic pension income within the Consolidated Statements of Operations.Our United Kingdom subsidiary has a defined benefit pension plan covering all eligible employees (the “UK Plan”); however, no individual joining the company after October 31, 2001 may participate in the UK Plan. On May 31, 2010, we curtailed the future accrual of benefits for active employees under such plan. We also sponsor three domestic retirement plans in which participation by new individuals is frozen. Amounts related to these domestic retirement plans were de minimis for all periods presented. Components of Net Periodic Pension IncomeThe components of net periodic pension income of the UK Plan for the three and six months ended June 30, 2025 and 2024 were as follows (in thousands):  For