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Financial Instruments and Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Derivative Instruments
The following table summarizes outstanding financial instruments that are measured at fair value on a recurring basis:
December 31, 2025December 31, 2024Balance Sheet Classification
Notional AmountFair ValueNotional AmountFair Value
(In millions)
Assets
Derivatives designated as hedges:
Cross currency swaps$197.0 $12.2 $197.0 $38.9 Other financial assets (non-current)
Interest rate swaps235.0 1.8 — — Other financial assets (non-current)
Total$432.0 $14.0 $197.0 $38.9 
Liabilities
Derivatives designated as hedges:
Cross currency swaps$— $— $— $— Other liabilities (non-current)
Interest rate swaps— — — — Other liabilities (non-current)
Total$ $ $ $ 
The following tables summarize the pre-tax effect of derivative and non-derivative instruments recorded in Accumulated other comprehensive loss (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings:
Effect of Financial Instruments
Year Ended December 31, 2025
Gain (Loss) Recognized in AOCIGain (Loss) Reclassified from AOCI to IncomeAdditional Gain (Loss) Recognized in IncomeIncome Statement Classification
(In millions)
Derivatives designated as hedges:
Cross currency swaps$(4.2)$(0.7)$— Interest and other financial expense, net
Interest rate swaps1.7 — — Interest and other financial expense, net
Total$(2.5)$(0.7)$ 
Effect of Financial Instruments
Year Ended December 31, 2024
Gain (Loss) Recognized in AOCIGain (Loss) Reclassified from AOCI to IncomeAdditional Gain (Loss) Recognized in IncomeIncome Statement Classification
(In millions)
Derivatives designated as hedges:
Cross currency swaps$(3.3)$0.1 $— Interest and other financial expense, net
Interest rate swaps(4.1)(0.6)— Interest and other financial expense, net
Total$(7.4)$(0.5)$ 
Effect of Financial Instruments
Year Ended December 31, 2023
Gain (Loss) Recognized in AOCIGain (Loss) Reclassified from AOCI to IncomeAdditional Gain (Loss) Recognized in IncomeIncome Statement Classification
(In millions)
Derivatives designated as hedges:
Cross currency swaps$(8.9)$1.7 $— Interest and other financial expense, net
Interest rate swaps(4.9)— — Interest and other financial expense, net
Total$(13.8)$1.7 $ 
Schedule of Fair Value Measurements Not Recurring
The following table presents the carrying value and estimated fair value of our financial instruments that are not measured at fair value on a recurring basis for the periods presented. Due to the short maturity, the fair value of all non-derivative financial instruments included in Current assets and Current liabilities for which the carrying value approximates fair value are excluded from the table below. Short-term and long-term debt are recorded at amortized cost in the Consolidated Balance Sheets.
December 31, 2025December 31, 2024
Notional AmountFair ValueNotional AmountFair Value
(In millions)
Non-derivatives:
Liabilities:
Term loan$639.7 $582.8 $601.9 $601.9 
China Term-loan52.4 52.9 55.9 56.8 
Total$692.1 $635.7 $657.8 $658.7