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BENEFIT PLANS: (Tables)
12 Months Ended
Dec. 31, 2024
Defined contribution plan and post-retirement defined benefit plans  
Components of net periodic benefit costs  
Schedule of the components of net periodic benefit costs

​

​

​

​

​

​

​

​

​

​

​

(in millions)

    

2024

    

2023

    

2022

Service cost

​

$

2.2

​

$

2.3

​

$

1.8

Interest cost

​

 

3.3

​

 

3.6

​

 

2.3

Expected return on plan assets

​

 

(5.5)

​

 

(5.9)

​

 

(3.9)

Amortization of net actuarial loss

​

​

—

​

​

0.1

​

​

0.1

Amortization of prior service cost / (credit)

​

 

0.2

​

 

0.7

​

 

0.2

Amortization of net loss/(gain)

​

 

0.3

​

 

0.3

​

 

0.3

Net periodic benefit cost

​

$

0.5

​

$

1.1

​

$

0.8

Schedule of changes in the benefit obligation and plan assets, the funded status of the plans and the amount recognized in balance sheet and accumulated other comprehensive income

​

​

​

​

​

​

​

​

​

​

As of December 31, 

(in millions)

    

2024

    

2023

Change in benefit obligation:

​

​

​

​

​

​

Projected benefit obligation at beginning of year

​

$

47.4

​

$

38.6

Service cost

​

 

2.2

​

 

2.3

Interest cost

​

 

3.3

​

 

3.6

Benefits paid

​

 

(4.4)

​

 

(3.9)

Actuarial loss

​

 

1.5

​

 

1.8

Actuarial loss (gain) assumption changes

​

 

(0.3)

​

 

0.6

Inflation adjustment

​

 

(6.7)

​

 

4.4

Projected benefit obligation at end of year

​

$

43.0

​

$

47.4

Change in plan assets:

​

​

​

​

​

​

Fair value of plan assets at beginning of year

​

$

73.2

​

$

59.2

Actual return on plan assets

​

 

16.1

​

 

8.8

Employer contributions

​

 

(0.6)

​

 

(1.0)

Benefits paid

​

 

(0.7)

​

 

(0.9)

Currency exchange rate adjustment

​

 

(10.6)

​

 

7.1

Fair value of plan assets at end of year

​

$

77.4

​

$

73.2

Funded status at end of year:

​

$

34.4

​

$

25.8

ASC-715 amounts recognized in statement of financial position consists of:

​

​

​

​

​

​

Non-current assets

​

$

34.4

​

$

25.8

Total

​

$

34.4

​

$

25.8

ASC-715 amounts recognized in accumulated other comprehensive income (net of income taxes of $(0.4) million and $(4.7) million in 2024 and 2023, respectively) consists of:

​

​

​

​

​

​

Net loss (gain)

​

$

(0.3)

​

$

6.2

Prior service cost

​

 

0.8

​

 

1.1

Total

​

$

0.5

​

$

7.3

Schedule of changes in accumulated other comprehensive income

​

​

​

​

​

​

​

​

(in millions)

    

2024

    

2023

Reconciliation of accumulated other comprehensive income:

​

​

​

​

​

​

Accumulated other comprehensive income at beginning of plan year

​

$

7.3

​

$

7.8

Net (gain) loss ocurring during the year

​

 

(5.8)

​

 

(0.6)

Net (gain) amortized during the year

​

 

(0.3)

​

 

(0.4)

Prior service cost (credit)

​

​

—

​

​

0.3

Settlement

​

​

(0.1)

​

​

(0.4)

Currency exchange rate adjustment

​

 

(0.6)

​

 

0.6

Net adjustment to accumulated other comprehensive income (net of income taxes of $4.3 million and $0.1 million in 2024 and 2023, respectively)

​

 

(6.8)

​

 

(0.5)

Accumulated other comprehensive income at end of plan year

​

$

0.5

​

$

7.3

Summary of the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of tax

​

​

​

​

​

​

​

​

(in millions)

    

2024

    

2023

Net loss / (gain)

​

$

(5.8)

​

$

(0.6)

Amortization of net (loss) gain

​

 

(0.3)

​

 

(0.4)

Amortization of prior services cost (credit)

​

​

—

​

​

0.3

Total amortization expenses

​

$

(6.1)

​

$

(0.7)

Schedule of assumptions used to determine the pension obligations and other post-retirement benefits

​

​

​

​

​

​

​

​

​

Mexican Plan(*)

    

2024

    

2023

    

2022

 

Discount rate

 

10.19

%  

9.98

%  

10.09

%

Expected long-term rate of return on plan asset

 

10.19

%  

9.98

%  

10.09

%

Rate of increase in future compensation level

 

4.75

%  

5.00

%  

4.75

%

​

​

​

​

​

​

​

​

​

Expatriate Plan

    

2024

    

2023

    

2022

 

Discount rate

 

5.30

%  

4.65

%  

4.85

%

Expected long-term rate of return on plan asset

 

4.00

%  

4.50

%  

4.00

%

Rate of increase in future compensation level

 

N/A

​

N/A

​

N/A

​

(*)These rates are based on Mexican pesos as pension obligations are denominated in this currency.

Scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter

​

​

​

​

​

​

    

Expected

Years

​

Benefit Payments

​

​

(in millions)

2025

​

$

8.2

2026

​

 

3.4

2027

​

 

4.3

2028

​

 

4.3

2029

​

 

3.9

2030 to 2034

​

 

24.9

Total

​

$

49.0

​

Post-retirement health care plans  
Components of net periodic benefit costs  
Schedule of the components of net periodic benefit costs

​

​

​

​

​

​

​

​

​

​

​

(in millions)

    

2024

    

2023

    

2022

Interest cost

​

$

1.8

​

$

2.2

​

$

1.7

Amortization of net loss (gain)

​

 

—

​

 

—

​

 

0.1

Net periodic benefit cost

​

$

1.8

​

$

2.2

​

$

1.8

​

Schedule of changes in the benefit obligation and plan assets, the funded status of the plans and the amount recognized in balance sheet and accumulated other comprehensive income

​

​

​

​

​

​

​

​

​

​

As of December 31, 

(in millions)

    

2024

    

2023

Change in benefit obligation:

​

​

​

​

​

​

Projected benefit obligation at beginning of year

​

$

22.7

​

$

20.3

Interest cost

​

 

1.8

​

 

2.2

Benefits paid

​

 

(1.4)

​

 

(1.1)

Actuarial (gain)

​

 

1.8

​

 

(1.6)

Inflation adjustment

​

 

(3.7)

​

 

2.9

Projected benefit obligation at end of year

​

$

21.2

​

$

22.7

Funded status at end of year:

​

$

21.2

​

$

22.7

ASC-715 amounts recognized in statement of financial position consists of:

​

​

​

​

​

​

Current liabilities

​

$

—

​

$

—

Non-current liabilities

​

 

(21.2)

​

 

(22.7)

Total

​

$

(21.2)

​

$

(22.7)

ASC-715 amounts recognized in accumulated other comprehensive income consists of:

​

​

​

​

​

​

Net loss (gain)

​

$

2.0

​

$

0.9

Total (net of income taxes of $(0.8) million and $(0.4) million in 2024 and 2023, respectively)

​

$

2.0

​

$

0.9

​

Schedule of changes in accumulated other comprehensive income

​

​

​

​

​

​

​

​

​

​

As of December 31, 

(in millions)

    

2024

    

2023

Reconciliation of accumulated other comprehensive income:

​

​

​

​

​

​

Accumulated other comprehensive income at beginning of plan year

​

$

0.9

​

$

1.6

Net loss/(gain) occurring during the year

​

 

1.2

​

 

(0.8)

Net loss/(gain) amortized during the year

​

 

—

​

 

—

Currency exchange rate adjustment

​

 

(0.1)

​

 

0.2

Net adjustment to accumulated other comprehensive income (net of income taxes of $0.5 million and $(0.4) million in 2024 and 2023, respectively)

​

 

1.1

​

 

(0.7)

Accumulated other comprehensive income at end of plan year

​

$

2.0

​

$

0.9

​

Summary of the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of tax

​

​

​

​

​

​

​

​

​

​

As of December 31, 

(in millions)

    

2024

    

2023

Net loss / (gain)

​

$

1.2

​

$

(0.8)

Amortization of net (loss) gain

​

 

—

​

 

—

Total amortization expenses

​

$

1.2

​

$

(0.8)

​

Schedule of assumptions used to determine the pension obligations and other post-retirement benefits

​

​

​

​

​

​

​

​

​

​

    

2024

    

2023

    

2022

 

Mexican health plan

​

​

​

​

​

​

​

Weighted average discount rate

 

10.19

%  

9.98

%  

10.09

%

Expatriate health plan

​

​

​

​

​

​

​

Discount rate

 

5.30

%  

4.65

%  

4.85

%

Scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter

​

​

​

​

​

​

    

Expected

Year

​

Benefit Payments

​

​

(in millions)

2025

​

$

1.7

2026

​

​

1.7

2027

​

 

1.8

2028

​

 

1.8

2029

​

 

1.9

2030 to 2034

​

 

10.2

Total

​

$

19.1

​

Mexican Health Plan | Defined contribution plan and post-retirement defined benefit plans  
Components of net periodic benefit costs  
Schedule of asset mix of the investment portfolio

​

​

​

​

​

​

​

​

    

2024

    

2023

 

Asset category:

​

​

​

​

​

Treasury bills

​

75

%  

73

%

Equity securities

​

25

%  

27

%

​

 

100

%  

100

%

​

Mexican Health Plan | Post-retirement health care plans  
Components of net periodic benefit costs  
Schedule of effects of one percentage-point change in assumed other benefits cost trend rates

​

​

​

​

​

​

​

​

​

​

One Percentage

​

​

Point

(in millions)

    

Increase

    

Decrease

Effect on total service and interest cost components

​

$

2.3

​

$

1.9

Effect on the post-retirement benefit obligation

​

$

21.7

​

$

19.9

​