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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Tax Provision (Benefit) for Income Taxes
Tax provision (benefit) for income taxes consisted of the following:
Years Ended December 31,
202520242023
(In millions)
Current
Domestic (1)
$15.5 $8.4 $34.3 
Foreign27.1 21.0 19.7 
Total42.6 29.4 54.0 
Deferred
Domestic (1)
(5.3)(5.2)3.1 
Foreign(1.5)(14.5)3.2 
Total(6.8)(19.7)6.3 
Provision for income taxes$35.8 $9.7 $60.3 
(1) Domestic refers to Germany.
Schedule of Income before Income Taxes
The following table presents the components of income before income taxes for continuing operations for fiscal years 2025, 2024 and 2023:
Years Ended December 31,
202520242023
(In millions)
Domestic (1)
$(17.4)$5.5 $119.1 
Foreign(17.4)48.4 44.7 
Income (loss) before income taxes$(34.8)$53.9 $163.8 
(1) Domestic refers to Germany.
Schedule of Effective Tax Rate Reconciliation
The following tables reconcile the expected tax expense (benefit) at the German statutory tax rate of 32.0% calculated for the year ended December 31,:
2025
(In millions)%
Loss before income taxes(34.3)
Expected income tax thereon11.1 32 %
Goodwill impairment(3.3)(9)%
Other permanent differences2.6 7 %
Uncertain tax positions(2.7)(8)%
Other 2.7 8 %
Foreign tax effects
Brazil
Effects from tax rate differences (1.1)(3)%
Goodwill impairment4.5 13 %
Other(0.3)(1)%
U.S.
Effects from tax rate differences (7.5)(21)%
Goodwill impairment16.9 48 %
Cross border impacts3.7 11 %
Foreign tax credit14.1 40 %
Valuation allowance(6.4)(18)%
Other(2.0)(6)%
France
Effects from tax rate differences (1.0)(3)%
Goodwill impairment(2.1)(6)%
Valuation allowance(1.0)(3)%
Other(0.6)(2)%
Italy
Effects from tax rate differences (2.7)(8)%
Goodwill impairment(13.8)(40)%
Other(1.3)(4)%
Luxembourg
Effects from tax rate differences (1.7)(5)%
Changes in tax loss (9.4)(27)%
Valuation allowance7.3 21 %
Other(2.5)(7)%
Poland
Effects from tax rate differences (5.4)(16)%
Goodwill impairment(8.1)(23)%
Other0.6 2 %
South Africa
Effects from tax rate differences (1.1)(3)%
Goodwill impairment(4.3)(12)%
Tax loss carry forward2.0 6 %
Valuation allowance(3.3)(9)%
Other(1.4)(4)%
Sweden
Effects from tax rate differences (7.3)(21)%
Goodwill impairment(15.3)(44)%
Other(0.1)— %
China
Effects from tax rate differences (1.3)(4)%
Valuation allowance(7.3)(21)%
Other(0.1)— %
South Korea
Effects from tax rate differences 4.1 12 %
Goodwill impairment7.0 20 %
Other2.0 6 %
Effective tax expense(35.8)(104)%
20242023
(In millions)
Income before income taxes$53.9 $163.8 
Expected income tax thereon17.0 52.3 
Tax rate differences1.0 (4.2)
Effect of cross-border tax laws(9.4)— 
Change in valuation allowance13.0 5.0 
Income taxes for prior years(1.0)3.3 
Uncertain tax position(13.3)1.6 
Non-deductible interest expenses— 0.1 
Non-deductible expenses, and non-deductible taxes1.5 2.1 
Effects of changes in permanent differences1.2 — 
Tax effect on tax-free income(1.4)(1.5)
Other tax effects1.1 1.6 
Income tax expense$9.7 $60.3 
Effective tax rate18.0 %36.9 %
Schedule of Significant Components of Deferred Income Taxes The deferred tax effects of tax losses, credit and interest carryforwards (“tax attributes”) and the tax effects of temporary differences between the tax basis of assets and liabilities and their amounts reported in the Consolidated Financial Statements, reduced by a valuation allowance where appropriate, are presented below.
December 31
20252024
(In millions)
Deferred tax assets
   Inventories$7.8 $5.8 
   Deferred Compensation4.3 4.0
   Provisions 11.1 14.3 
   Liabilities including leases liabilities34.0 42.5 
Loss carryforwards59.5 54.0 
Interest carryforwards5.5 5.6 
Tax credits26.2 21.0 
   Other 11.2 2.6
Total deferred tax assets159.6 149.8 
Valuation allowances(67.3)(50.5)
Net deferred tax assets$92.3 $99.3 
Deferred Tax Liabilities
   Intangible assets$1.4 $1.4 
   Property, plant and equipment including right of use assets77.3 92.0 
   Financial assets8.0 13.7 
   Receivables, other assets13.1 7.1 
Total deferred tax liabilities$99.8 $114.2 
Net deferred tax assets / (liabilities)$(7.5)$(14.9)
Our net deferred tax assets and liabilities reflected in our balance sheet are as follows:
Net deferred tax positionDecember 31
20252024
(In millions)
Deferred tax assets
Net deferred tax assets$20.5 $21.6 
Deferred tax liabilities
Net deferred tax liabilities28.0 36.5 
Net deferred tax asset / (liability) positions$(7.5)$(14.9)
Schedule of Valuation Allowance The following table presents a summary of our valuation allowance positions:
Valuation allowance202520242023
(In millions)
As of January 1,$50.5 $40.1 $38.1 
   Additions for Tax Credits6.4 — — 
   Additions for Loss carryforwards 12.8 10.6 6.0 
   Additions for Interest carryforwards0.3 — — 
   Additions Other2.6 0.2 0.2 
   Reduction for Loss and Interest carryforwards (5.3)(0.4)(4.2)
As of December 31,$67.3 $50.5 $40.1 
Schedule of Tax Loss and Interest Carryforwards
The following table provides detail surrounding the expiration dates of the gross amount of tax loss carryforwards and tax credits:
December 31, 2025
Net operating loss carryforwards Tax Credits
(In millions)
2026 to 2032$58.8 $1.0 
2033 and thereafter— — 
Indefinite carryforwards183.6 25.2 
Total$242.4 $26.2 
Schedule of Unrecognized Tax Benefits The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits:
202520242023
(In millions)
Balance at beginning of the year$— $13.3 $11.6 
Additions for tax positions of prior year8.7 — 1.7 
Reductions of tax positions of prior year— (11.9)— 
Reductions related to settlements and other(4.0)(1.4)— 
Balance at end of the year$4.7 $— $13.3 
Schedule of Cash Paid for Taxes
The following table provides detail surrounding the cash paid for income taxes:
2025
(In millions)
Germany$10.8 
USA7.2 
Brazil15.4 
Korea4.2 
Other3.6 
Cash paid for income taxes$41.2