XML 38 R18.htm IDEA: XBRL DOCUMENT v3.25.2
Equity
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Equity Equity
Common Stock
In millions, shares in thousandsSharesAmountAdditional paid in capitalRetained earningsAccumulated
other
comprehensive
income (loss)
Treasury stockTotal Equity
Balance at December 31, 202443,630 $0.4 $176.8 $572.0 $(41.4)$(512.6)$195.2 
Net income (loss)— — — 20.5 — — 20.5 
Other comprehensive income (loss)— — — — 17.4 — 17.4 
Common stock issued155 — — — — — — 
Tax payments related to vested restricted stock units— — — — — (2.6)(2.6)
Share-based compensation plans— — 4.1 — — — 4.1 
Balance at March 31, 202543,785 $0.4 $180.9 $592.5 $(24.0)$(515.2)$234.6 
Net income (loss)— — — (146.5)— — (146.5)
Other comprehensive income (loss)— — — — 28.2 — 28.2 
Common stock issued15 — — — — — — 
Share-based compensation plans— — 4.4 — — — 4.4 
Balance at June 30, 202543,800 $0.4 $185.3 $446.0 $4.2 $(515.2)$120.7 
Common Stock
In millions, shares in thousandsSharesAmountAdditional paid in capitalRetained earningsAccumulated
other
comprehensive
income (loss)
Treasury stockTotal Equity
Balance at December 31, 202343,447 $0.4 $164.9 $1,002.3 $(26.7)$(509.5)$631.4 
Net income (loss)— — — (56.0)— — (56.0)
Other comprehensive income (loss)— — — — (8.9)— (8.9)
Common stock issued138 — — — — — — 
Tax payments related to vested restricted stock units— — — — — (2.6)(2.6)
Share-based compensation plans— — 4.3 — — — 4.3 
Balance at March 31, 202443,585 $0.4 $169.2 $946.3 $(35.6)$(512.1)$568.2 
Net income (loss)— — — (283.7)— — (283.7)
Other comprehensive income (loss)— — — — (1.9)— (1.9)
Common stock issued20 — — — — — — 
Tax payments related to vested restricted stock units— — — — — (0.2)(0.2)
Share-based compensation plans— — 2.4 — — — 2.4 
Balance at June 30, 202443,605 $0.4 $171.6 $662.6 $(37.5)$(512.3)$284.8 
Accumulated other comprehensive income (loss)
Three Months Ended June 30,Six Months Ended June 30,
In millions2025202420252024
Foreign currency translation
Beginning balance$(27.2)$(34.7)$(44.4)$(25.6)
Net gains (losses) on foreign currency translation29.5 (2.6)46.7 (11.7)
Other comprehensive income (loss), net of tax29.5 (2.6)46.7 (11.7)
Ending balance$2.3 $(37.3)$2.3 $(37.3)
Derivative instruments
Beginning balance$0.7 $(1.4)$0.5 $(1.6)
Gains (losses) on derivative instruments(1.8)0.1 (1.7)(0.3)
Less: tax provision (benefit)(0.4)— (0.4)(0.1)
Net gains (losses) on derivative instruments(1.4)0.1 (1.3)(0.2)
(Gains) losses reclassified to net income0.1 0.8 0.3 1.5 
Less: tax (provision) benefit— 0.2 0.1 0.4 
Net (gains) losses reclassified to net income0.1 0.6 0.2 1.1 
Other comprehensive income (loss), net of tax(1.3)0.7 (1.1)0.9 
Ending balance$(0.6)$(0.7)$(0.6)$(0.7)
Pension and other postretirement benefits
Beginning balance$2.5 $0.5 $2.5 $0.5 
Other comprehensive income (loss), net of tax— — — — 
Ending balance$2.5 $0.5 $2.5 $0.5 
Total AOCI ending balance at June 30$4.2 $(37.5)$4.2 $(37.5)
Reclassifications of accumulated other comprehensive income (loss)
Three Months Ended June 30,Six Months Ended June 30,
In millions2025202420252024
Derivative instruments
Currency exchange contracts (1)
$(0.2)$— $(0.2)$— 
Natural gas contracts (1)
0.1 (0.8)(0.1)(1.5)
Total before tax(0.1)(0.8)(0.3)(1.5)
(Provision) benefit for income taxes— 0.2 0.1 0.4 
Amount included in net income (loss)$(0.1)$(0.6)$(0.2)$(1.1)
_______________
(1) Included within "Cost of sales" on the condensed consolidated statements of operations.
Share Repurchases
On July 25, 2022, our Board of Directors authorized the repurchase of up to $500.0 million of our common stock (the "2022 Authorization"), and rescinded the prior outstanding repurchase authorization with respect to the shares that remained unused under the prior authorization. Shares under the 2022 Authorization may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of market prevailing conditions and other
factors, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
During the three and six months ended June 30, 2025 and 2024, we repurchased no common stock. At June 30, 2025, $353.4 million remained unused under the 2022 Authorization.