Investments in Unconsolidated Affiliates (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Equity Method Investments [Line Items]

Schedule of Equity (Earnings) Losses from Unconsolidated Affiliates

The following table presents equity (earnings) loss from our unconsolidated affiliates:

	2024			2023			2022
WAVE	$	(104.3	)	$	(89.3	)	$	(77.6	)
Overcast		0.9			-			-
Equity (earnings) from unconsolidated affiliates, net	$	(103.4	)	$	(89.3	)	$	(77.6	)

Summary of Investment in Joint Venture, Balance Sheet Data

The following table presents combined condensed financial data for our unconsolidated affiliates:

	December 31, 2024		December 31, 2023
Current assets	$	111.5	$	88.9
Non-current assets		98.9		87.2
Current liabilities		33.6		33.0
Non-current liabilities		376.6		363.9

Summary of Investment in Joint Venture, Income Statement Data

	2024		2023		2022
Net sales	$	492.7	$	449.0	$	458.2
Gross profit		296.9		263.2		231.1
Net earnings		211.1		187.2		163.7

WAVE [Member]

Schedule of Equity Method Investments [Line Items]

Summary of the Difference Between Carrying Amount and Underlying Equity of Equity Method Investment

Our recorded investment in WAVE was higher than our 50% share of the carrying values reported in WAVE’s consolidated financial statements by $123.6 million as of December 31, 2024 and $127.9 million as of December 31, 2023. These differences are due to our adoption of fresh-start reporting upon emergence from Chapter 11 in October 2006, while WAVE’s consolidated financial statements do not reflect fresh-start reporting. The differences are composed of the following fair value adjustments to assets:

	December 31, 2024		December 31, 2023
Property, plant and equipment	$	0.4	$	0.4
Other intangibles		92.8		97.1
Goodwill		30.4		30.4
Total	$	123.6	$	127.9