Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 148

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 148
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— (0.2)0.1 PBO at end of year$323.8 $342.0 $162.9 $219.5 $20.5 $23.2 $3.1 $3.8 Change in Plan Assets:Fair value of plan assets at beginning of year$356.8 $349.2 $192.9 $174.6 $— $— $— $— Actual return on plan assets11.0 32.6 (5.6)20.4 — — — — Employer contributions0.3 0.5 1.9 6.8 4.5 4.3 1.7 1.4 Participant contributions— — — — — 0.1 — — Plan settlements— — (33.9)(4.8)— — — — Gross benefits paid(26.0)(25.5)(13.8)(13.2)(4.5)(4.4)(1.7)(1.4)Currency translation effect— — (2.4)9.1 — — — — Fair value of plan assets at end of year$342.1 $356.8 $139.1 $192.9 $— $— $— $— Funded status at end of year(1)$18.3 $14.8 $(23.8)$(26.6)$(20.5)$(23.2)$(3.1)$(3.8)(1) Net pension assets of $32.9 million and $31.2 million were reflected within the Consolidated Balance Sheet as Other Assets as of December 31, 2024 and 2023, respectively. The PBO, ABO and fair value of pension plan assets for the Company's defined benefit pension plans and OPEB plans as of December 31, 2024 and 2023 were as follows (in millions):Pension BenefitsOther Postretirement BenefitsU.S.Non-U.S.U.S.Non-U.S.20242023202420232024202320242023PBO$323.8 $342.0 $162.9 $219.5 $20.5 $23