Allegion ALLE Other Non-Current Assets

On May 31, 2026, the Company transferred obligations of $19.7 million from a U.S. defined benefit pension plan to a third-party insurance company by purchasing a group annuity contract using an equivalent amount of plan assets. The transaction did not have a material impact on the funded status of the pension plan. As a result of the transaction, the Company recorded a $3.7 million settlement charge during the three months ended June 30, 2026, which was reflected as a component of Other income, net. The plan’s assets and liabilities were remeasured as of the settlement date, resulting in a remaining projected benefit obligation of $195.9 million, and fair value of plan assets of $207.1 million. The discount rate used to determine the projected benefit obligation at the settlement date was 5.55%, compared to 5.37% as of December 31, 2025. The expected long-term return on plan assets remained 6.50%.