Equity

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Equity

14. Equity

Authorized capital consists of 75.0 million shares of $0.01 par value common stock and 3.5 million shares of $0.01 par value preferred stock. None of the preferred shares have been issued.

As of March 31, 2024, the Company has $35.0 million remaining under an authorization from the Board of Directors to purchase up to $35.0 million of the Company’s common stock at management’s discretion. The Company’s share repurchase program purchases shares in the open market to offset stock-based awards issued in conjunction with the Company’s 2013 Omnibus Incentive Plan.

A reconciliation of the changes in accumulated other comprehensive income (loss), net of income tax, by component for the three months ended March 31, 2024 and 2023 are summarized as follows:

	Cash Flow Hedges			Pension & Postretirement			Foreign Currency Translation			Total
Balance as of December 31, 2022	$	5.4		$	(15.3	)	$	(98.0	)	$	(107.9	)
Other comprehensive income (loss) before    reclassifications		0.1			(1.7	)		4.2			2.6
Amounts reclassified from accumulated other    comprehensive income (loss)		(3.4	)		0.7			—			(2.7	)
Net other comprehensive income (loss)		(3.3	)		(1.0	)		4.2			(0.1	)
Balance as of March 31, 2023	$	2.1		$	(16.3	)	$	(93.8	)	$	(108.0	)
Balance as of December 31, 2023	$	1.3		$	(10.3	)	$	(77.4	)	$	(86.4	)
Other comprehensive loss before    reclassifications		(2.5	)		—			(11.0	)		(13.5	)
Amounts reclassified from accumulated other    comprehensive income (loss)		0.9			0.1			—			1.0
Net other comprehensive income (loss)		(1.6	)		0.1			(11.0	)		(12.5	)
Balance as of March 31, 2024	$	(0.3	)	$	(10.2	)	$	(88.4	)	$	(98.9	)

A reconciliation of the reclassifications from accumulated other comprehensive loss, net of income tax, for the three months ended March 31, 2024 and 2023 are summarized as follows:

	Amount Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended March 31, 2024			Three Months Ended March 31, 2023				Recognized Location
Gains (losses) on cash flow hedges
FX Forward Contracts	$	(0.9	)	$	3.4			Cost of sales
Total before income taxes		(0.9	)		3.4
Provision for income taxes		—			—
Total, net of income taxes	$	(0.9	)	$	3.4
Amortization of pension and    postretirement items
Actuarial losses	$	(0.1	)	$	(1.0	)	(a)	Other income (expense) - net
Amortization of prior service cost		—			0.3		(a)	Other income (expense) - net
Total before income taxes		(0.1	)		(0.7	)
Provision for income taxes		—			—
Total, net of income taxes	$	(0.1	)	$	(0.7	)
Total reclassifications for the period,    net of income taxes	$	(1.0	)	$	2.7

(a) These accumulated other comprehensive income (loss) components are components of net periodic pension cost (refer to Note 19, “Employee Benefit Plans,” for further details)