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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Information Regarding Defined Benefit Pension Plans
The Company maintains defined benefit pension plans in Japan and certain European countries.
 Years Ended December 31,
 20242023
(in millions)
Change in projected benefit obligation:  
Beginning of year$111.7 $94.1 
Service cost5.0 4.3 
Interest cost1.9 2.3 
Participant contributions2.0 1.9 
Actuarial loss3.6 9.9 
Benefits paid(1.5)(3.8)
Plan amendment(0.5)(0.4)
Divestiture (Note 5)(4.4)— 
Settlements and curtailment gain (Note 5)(5.4)— 
Currency exchange rate changes and other(5.7)3.4 
End of year$106.7 $111.7 
Change in fair value of plan assets:  
Beginning of year$75.5 $70.6 
Actual return on plan assets6.3 0.8 
Employer contributions6.4 3.5 
Participant contributions2.0 1.9 
Divestiture (Note 5)(4.4)— 
Settlements(5.9)— 
Benefits paid(1.5)(3.8)
Currency exchange rate changes and other(3.8)2.5 
End of year$74.6 $75.5 
Funded Status  
Projected benefit obligation$(106.7)$(111.7)
Plan assets at fair value74.6 75.5 
Underfunded status$(32.1)$(36.2)
Net amounts recognized on the consolidated balance sheet:  
Other liabilities$32.1 $36.2 
Accumulated other comprehensive loss, net of tax:  
Net actuarial loss$(9.1)$(10.3)
Net prior service credit4.4 5.2 
Deferred income tax benefit0.6 0.9 
Total$(4.1)$(4.2)
Schedule of Pension Plans with Accumulated Benefit Obligations Pension plans with accumulated benefit obligations in excess of plan assets and plans with projected benefit obligations in excess of plan assets were as follows:
 December 31,
 20242023
(in millions)
Plans with accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation$89.1 $106.8 
Fair value of plan assets61.6 75.5 
Plans with projected benefit obligation in excess of plan assets
Projected benefit obligation$106.7 $111.7 
Fair value of plan assets74.6 75.5 
Schedule of Net Periodic Benefit Cost
The components of net periodic pension benefit cost are as follows (in millions):

 Years Ended December 31,
 202420232022
Service cost, net$5.0 $4.3 $5.5 
Interest cost1.9 2.3 0.5 
Expected return on plan assets(3.1)(2.7)(1.5)
Settlements and curtailment gain1.2 — 0.1 
Amortization of actuarial loss0.2 — 0.5 
Amortization of prior service credit (0.8)(0.8)(0.7)
Net periodic pension benefit cost$4.4 $3.1 $4.4 
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations
The weighted-average assumptions used to determine the benefit obligations are as follows:
 December 31,
 20242023
Discount rate1.5 %1.8 %
Rate of compensation increase2.8 %2.9 %
Cash balance interest crediting rate1.5 %1.5 %
Social securities increase1.8 %1.8 %
Pension increase2.2 %2.2 %
The weighted-average assumptions used to determine the net periodic pension benefit cost are as follows:
 Years ended December 31,
 202420232022
Discount rate1.8 %2.5 %0.5 %
Expected return on plan assets4.3 %3.7 %2.1 %
Rate of compensation increase2.9 %2.9 %2.6 %
Cash balance interest crediting rate1.5 %1.5 %1.5 %
Social securities increase1.8 %1.8 %1.6 %
Pension increase2.2 %2.2 %1.8 %
Schedule of Target Weighted-Average Asset Allocations and Fair Value Target weighted-average asset allocations at December 31, 2024, by asset category, are as follows:
Equity securities30.9 %
Debt securities37.2 %
Real estate14.7 %
Other17.2 %
Total100.0 %

The fair values of the Company's defined benefit plan assets at December 31, 2024 and 2023, by asset category, are as follows (in millions):
December 31, 2024Level 1Level 2Level 3Total
Asset Category    
Cash$1.1 $— $— $1.1 
Equity securities:    
United States equities2.0 — — 2.0 
International equities21.1 — — 21.1 
Debt securities:    
United States government bonds3.2 — — 3.2 
International government bonds24.6 — — 24.6 
Real estate— 11.0 — 11.0 
Mortgages— 3.0 — 3.0 
Insurance contracts— — 0.7 0.7 
Total plan assets measured at fair value
$52.0 $14.0 $0.7 $66.7 
Alternative investments measured at net asset value (a)
7.9 
Total plan assets
$74.6 
 
December 31, 2023Level 1Level 2Level 3Total
Asset Category
Cash$2.0 $— $— $2.0 
Equity securities:
United States equities2.6 — — 2.6 
International equities21.0 — — 21.0 
Debt securities:
United States government bonds3.5 — — 3.5 
International government bonds26.0 — — 26.0 
Real estate— 8.7 — 8.7 
Mortgages— 4.0 — 4.0 
Insurance contracts— — 0.8 0.8 
Total plan assets $55.1 $12.7 $0.8 $68.6 
Alternative investments measured at net asset value (a)6.9 
Total plan assets $75.5 
_______________________________________
(a)     Certain investments that were measured at net asset value per share have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total plan assets.
Schedule of Changes in Fair Value of Defined Benefit Plan Assets Classified as Level 3
The following table summarizes the changes in fair value of the Company's defined benefit plan assets that have been classified as Level 3 for the years ended December 31, 2024 and 2023 (in millions):

 Insurance
Contracts
Balance at December 31, 2022$0.8 
Actual return on plan assets: 
Relating to assets still held at December 31, 2023
0.2 
Purchases, sales and settlements(0.2)
Balance at December 31, 20230.8 
Actual return on plan assets: 
Relating to assets still held at December 31, 2024
0.4 
Purchases, sales and settlements(0.5)
Balance at December 31, 2024$0.7 
Schedule of Benefit Payments Which Reflect Expected Future Service
The following benefit payments, which reflect expected future service, as appropriate, at December 31, 2024, are expected to be paid (in millions):

2025$6.9 
20265.5 
20275.8 
20287.5 
20297.2 
2030-203436.5