Employee Benefit Plans

9 Months Ended

Sep. 30, 2026

Postemployment Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Defined Contribution Plans. The Company sponsors U.S. and international defined contribution plans. Contributions to the plans were $4.9 and $4.7 for the three months ended September 30, 2026 and 2025, respectively, and $14.7 and $12.1 for the nine months ended September 30, 2026 and 2025, respectively.

Pension and Postretirement Plans. The Company has defined benefit pension plans (“Pension Plans”) which cover certain U.S. full-time and part-time as well as certain international employees. The benefits under the Pension Plans are determined based on a fixed monthly payment per year of service or on a combination of years of service and earnings. The Company’s funding policy is to make the minimum annual contributions required by applicable regulations. Certain Pension Plans are not fully funded by pension assets, so benefits paid under the obligation will be greater than benefit payments relieved from pension assets. Most of the long-term pension liability is due to certain hourly and salaried pension plans carried over from a business acquired in 2021. These plans are frozen and as a result, no new individuals, other than spouses of deceased participants, are eligible for participation in the Pension Plans.

In August 2026 the Company completed a group annuity contract covering a plan that represented a significant portion of its U.S. pension obligation. The Company transferred approximately $36.2 of outstanding pension projected benefit obligation along with plan assets of the same amount. As a result of the transaction, the Company recognized a pre-tax non-cash settlement gain of $2.5 for the quarter ended September 30, 2026 which is recorded in other (income) expense, net on the condensed consolidated statements of income (loss). This settlement gain reflects the accelerated recognition of unamortized actuarial gains previously recorded in accumulated other comprehensive income.

Discretionary contributions to the U.S. Plans and International Plans were as follows:

	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
U.S Plans	$	—	$	0.2	$	0.3	$	0.6
International Plans	0.1		0.1		0.3		0.3
Total	$	0.1	$	0.3	$	0.6	$	0.9

The components of net periodic pension expense (benefit) for the defined benefit pension plans are presented in the table below. Net periodic pension expense (benefit) is recorded in other (income) expense in the condensed consolidated statements of income(loss).

	U.S. Plans				International Plans
	Three months ended September 30,				Three months ended September 30,
	2026		2025		2026		2025
Service cost	$	0.1	$	0.1	$	—	$	—
Interest cost	0.1		0.6		0.3		0.4
Expected return on plan assets	(0.3)		(0.6)		(0.5)		(0.4)
Net periodic pension expense (benefit)	$	(0.1)	$	0.1	$	(0.2)	$	—

	U.S. Plans				International Plans
	Nine months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Service cost	$	0.4	$	0.3	$	—	$	—
Interest cost	1.1		1.9		1.1		1.1
Expected return on plan assets	(1.4)		(1.7)		(1.3)		(1.2)
Net periodic pension expense (benefit)	$	0.1	$	0.5	$	(0.2)	$	(0.1)