Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Summary of the Components of Accumulated Other Comprehensive Income (Loss)

	MCBC stockholders' equity
	Foreign currency translation adjustments		Gain (loss) on derivative instruments		Pension and postretirement benefit adjustments		Equity method investments		Accumulated other comprehensive income (loss)
	(In millions)
As of December 31, 2022	$	(875.2)	$	32.2	$	(335.1)	$	(27.4)	$	(1,205.5)
Foreign currency translation adjustments	113.5		—		—		—		113.5
Cumulative translation adjustment reclassified from other comprehensive income (loss)(1)	(0.7)		—		—		—		(0.7)
Gain (loss) recognized on net investment hedges	(26.5)		—		—		—		(26.5)
Unrealized gain (loss) recognized on derivative instruments	—		(3.6)		—		—		(3.6)
Derivative instrument activity reclassified from other comprehensive income (loss)	—		1.3		—		—		1.3
Net change in pension and other postretirement benefit assets and liabilities recognized in other comprehensive income (loss)	—		—		(8.5)		—		(8.5)
Pension and other postretirement activity reclassified from other comprehensive income (loss)	—		—		(15.0)		—		(15.0)
Ownership share of unconsolidated subsidiaries' other comprehensive income (loss)	—		—		—		15.4		15.4
Tax benefit (expense)	10.9		0.7		5.9		(4.2)		13.3
As of December 31, 2023	$	(778.0)	$	30.6	$	(352.7)	$	(16.2)	$	(1,116.3)
Foreign currency translation adjustments	(339.9)		—		—		—		(339.9)
Cumulative translation adjustment reclassified from noncontrolling interest to accumulated other comprehensive income (loss)(2)	(3.5)		—		—		—		(3.5)
Gain (loss) recognized on net investment hedges	54.6		—		—		—		54.6

Unrealized gain (loss) recognized on derivative instruments	—		70.6		—		—		70.6
Derivative instrument activity reclassified from other comprehensive income (loss)	—		(0.3)		—		—		(0.3)
Net change in pension and other postretirement benefit assets and liabilities recognized in other comprehensive income (loss)	—		—		(10.1)		—		(10.1)
Pension and other postretirement activity reclassified from other comprehensive income (loss)(3)	—		—		24.3		—		24.3
Ownership share of unconsolidated subsidiaries' other comprehensive income (loss)	—		—		—		(0.5)		(0.5)
Tax benefit (expense)	(20.2)		(17.3)		(3.9)		0.1		(41.3)
As of December 31, 2024	$	(1,087.0)	$	83.6	$	(342.4)	$	(16.6)	$	(1,362.4)
Foreign currency translation adjustments	369.3		—		—		—		369.3
Gain (loss) recognized on net investment hedges	(110.8)		—		—		—		(110.8)
Unrealized gain (loss) recognized on derivative instruments	—		(19.5)		—		—		(19.5)
Derivative instrument activity reclassified from other comprehensive income (loss)	—		(1.1)		—		—		(1.1)
Net change in pension and other postretirement benefit assets and liabilities recognized in other comprehensive income (loss)	—		—		29.0		—		29.0
Pension and other postretirement activity reclassified from other comprehensive income (loss)	—		—		(7.6)		—		(7.6)
Ownership share of unconsolidated subsidiaries' other comprehensive income (loss)	—		—		—		1.6		1.6
Tax benefit (expense)	30.9		5.2		(5.8)		(0.4)		29.9
As of December 31, 2025	$	(797.6)	$	68.2	$	(326.8)	$	(15.4)	$	(1,071.6)

(1)As a result of the sale of our interest in Truss, the associated cumulative foreign currency translation adjustment was reclassified from AOCI. The impact of the cumulative foreign currency translation adjustment was recorded in other operating income (expense), net, as a component of the loss on sale when the entity was disposed during the third quarter of 2023.

(2)Our partner in the CBPL U.K. partnership agreement exercised a put option in March 2024 which triggered the NCI to become mandatorily redeemable and required reclassification to accounts payable and other current liabilities in the consolidated balance sheets. The cumulative translation adjustment recorded on the mandatorily redeemable NCI was reclassified to AOCI. See further discussion of this transaction in Note 1. "Basis of Presentation and Summary of Significant Accounting Policies."

(3)This is inclusive of a settlement loss of $34.0 million recorded as a result of the purchase of annuity contracts for two of our Canadian pension plans which transferred pension plan liabilities, along with the associated administration of benefits, to an insurance company using the plan's respective pension plan assets during the third quarter of 2024.

Schedule of Reclassifications from Accumulated Other Comprehensive Income to Income

Reclassifications from AOCI

	For the years ended
	December 31, 2025		December 31, 2024		December 31, 2023
	Reclassifications from AOCI						Locations of Reclassifications
	(In millions)
Gain/(loss) on cash flow hedges
Forward starting interest rate swaps	$	(2.4)	$	(3.4)	$	(5.2)	Interest expense, net
Foreign currency forwards	4.2		4.4		4.9		Cost of goods sold
Foreign currency forwards	(0.7)		(0.7)		(1.0)		Other non-operating income (expense), net
Total income (loss) reclassified, before tax	$	1.1	$	0.3	$	(1.3)
Income tax benefit (expense)	(0.3)		(0.1)		0.4
Net income (loss) reclassified, net of tax	$	0.8	$	0.2	$	(0.9)
Amortization of defined benefit pension and other postretirement benefit plan items
Prior service benefit (cost)	$	2.2	$	0.4	$	0.4	Other pension and postretirement benefits (costs), net
Net actuarial gain (loss) and settlement	5.4		(24.7)		14.6		Other pension and postretirement benefits (costs), net
Total income (loss) reclassified, before tax	$	7.6	$	(24.3)	$	15.0
Income tax benefit (expense)	(2.1)		6.7		(3.8)
Net income (loss) reclassified, net of tax	$	5.5	$	(17.6)	$	11.2
Other reclassifications from AOCI
Cumulative translation adjustment resulting from sale of disposal groups	$	—	$	—	$	0.7	Other operating income (expense), net
Net income (loss) reclassified, net of tax	$	—	$	—	$	0.7
Total income (loss) reclassified, net of tax	$	6.3	$	(17.4)	$	11.0