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Hedging Transactions and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table summarizes the notional values as of December 31, 2025 and 2024 and pretax impact of changes in the fair values of instruments designated as net investment and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the years ended December 31, 2025 and 2024 ($ in millions):




	Notional Amount		Loss Recognized in OCI
Year Ended December 31, 2025
Foreign currency denominated debt	$	528.6	$	(50.8)
Foreign currency contract	150.0		(16.1)

Total	$	678.6	$	(66.9)





	Notional Amount		Gain Recognized in OCI
Year Ended December 31, 2024
Foreign currency denominated debt	$	362.4	$	24.0
Foreign currency contract	150.0		9.2

Total	$	512.4	$	33.2

Schedule of notional amounts of outstanding derivative positions




	Notional Amount		Loss Recognized in OCI
Year Ended December 31, 2025
Foreign currency denominated debt	$	528.6	$	(50.8)
Foreign currency contract	150.0		(16.1)

Total	$	678.6	$	(66.9)





	Notional Amount		Gain Recognized in OCI
Year Ended December 31, 2024
Foreign currency denominated debt	$	362.4	$	24.0
Foreign currency contract	150.0		9.2

Total	$	512.4	$	33.2

Schedule of derivative instruments in statement of financial position, fair value

The Company’s derivative instrument, as well as its non-derivative debt instrument designated and qualifying as net investment hedges, were classified as of December 31, 2025 and 2024, in the Company’s Consolidated Balance Sheets as follows ($ in millions):


	2025		2024
Derivative assets:
Other long-term assets	$	—	$	5.9

Derivative liabilities:
Other long-term liabilities	$	10.2	$	—

Non-derivative hedging instruments:
Long-term debt	$	528.6	$	362.4