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Pensions and Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Summary of changes in benefit obligation, plan assets, funded status
The following tables set forth the changes in benefit obligation, plan assets, funded status and amounts recognized in the consolidated balance sheet for the defined benefit pension and postretirement benefit plans as of December 31, 2024 and 2023:
 Pension BenefitsPostretirement Benefits
 2024202320242023
Change in benefit obligation
Benefit obligation at beginning of year$72.8 $67.6 $5.0 $5.2 
Service cost4.3 4.3 — — 
Interest cost3.4 3.5 0.2 0.3 
Actuarial (gain) loss(1.2)3.2 (0.5)0.2 
Benefits and expenses paid(8.5)(6.2)(0.7)(0.7)
Curtailment loss - discontinued operations— 0.4 — — 
Benefit obligation at end of year$70.8 $72.8 $4.0 $5.0 
Change in plan assets
Fair value of plan assets at beginning of year$147.9 $131.5 $3.4 $3.6 
Actual return on plan assets16.7 22.6 0.4 0.5 
Benefits and expenses paid(8.5)(6.2)(0.7)(0.7)
Fair value of plan assets at end of year$156.1 $147.9 $3.1 $3.4 
Funded (underfunded) status of the plans$85.3 $75.1 $(0.9)$(1.6)
Schedule of amounts recognized in the consolidated balance sheets
Amounts recognized in the consolidated balance sheets consist of:
 Pension BenefitsPostretirement Benefits
 2024202320242023
Pension assets$85.3 $75.1 $— $— 
Other long-term liabilities— — 0.9 1.6 
$85.3 $75.1 $0.9 $1.6 
Amounts recognized in Accumulated other comprehensive loss
Net actuarial loss$17.7 $26.8 $1.0 $2.0 
Net prior service cost0.1 0.1 — — 
Accumulated other comprehensive loss$17.8 $26.9 $1.0 $2.0 
Summary of pension plan weighted-average asset allocation
The pension plan weighted-average asset allocation at December 31, 2024 and 2023 and target allocation for 2025 are as follows:
  Plan Assets
 Target 202520242023
Asset Category
Equity securities
45-75%
55.0 %56.0 %
Debt securities
15-35%
17.0 %16.0 %
Other
    0-30%
28.0 %28.0 %
100%100 %100 %
Schedule of fair value hierarchy of pension plans assets
The following table sets forth, by level within the fair value hierarchy, the pension plans assets:
 20242023
 Level 1TotalLevel 1Total
Common stock$30.6 $30.6 $22.3 $22.3 
Equity securities51.7 51.7 58.3 58.3 
Foreign stock4.7 4.7 4.7 4.7 
U.S. Government obligations9.0 9.0 9.2 9.2 
Fixed income securities7.0 7.0 3.0 3.0 
Corporate bonds11.5 11.5 11.7 11.7 
Cash and cash equivalents6.4 6.4 6.5 6.5 
Total$120.9 $115.7 
Investments measured at net asset value:
Common collective trusts4.6 11.4 
Hedge funds33.7 24.2 
Postretirement benefit assets(3.1)(3.4)
Total assets at fair value$156.1 $147.9 
Summary of assumptions used in the valuation of pension and postretirement benefit obligations
The following tables summarize the assumptions used in the valuation of pension and postretirement benefit obligations at December 31 and the measurement of the net periodic benefit cost in the following year. The Company used a spot rate approach by applying the specific spot rates along the yield curve to the relevant projected cash flows in the estimation of the service and interest components of benefit cost.
 Weighted-Average assumptions as of December 31,
 Pension BenefitsPostretirement Benefits
 202420232022202420232022
Assumptions used to determine benefit obligation at year-end
Discount rate5.55 %5.14 %5.48 %5.43 %5.06 %5.41 %
Rate of compensation increase
3.00% to 7.00%
3.00 %3.00 %N/AN/AN/A
Health care cost trend rateN/AN/AN/A6.50 %6.75 %7.00 %
Ultimate health care cost trend rateN/AN/AN/A5.00 %5.00 %5.00 %
Year of ultimate trend rateN/AN/AN/A203120312028
Assumptions used to determine expense
Discount rate for benefit obligations5.14 %5.48 %2.80 %5.06 %5.40 %2.51 %
Discount rate for service costs5.16 %5.53 %2.85 %5.06 %5.42 %2.88 %
Discount rate for interest costs5.09 %5.35 %2.21 %5.03 %5.29 %1.96 %
Expected return on plan assets7.50 %7.75 %7.75 %7.50 %7.75 %7.75 %
Rate of compensation increase
3.00% to 7.00%
3.00 %3.00 %N/AN/AN/A
Medical health care benefits rate increaseN/AN/AN/A6.50 %6.75 %7.00 %
Medical drug benefits rate increaseN/AN/AN/A6.50 %6.75 %7.00 %
Ultimate health care cost trend rateN/AN/AN/A5.00 %5.00 %5.00 %
Year of ultimate trend rateN/AN/AN/A203120312028
Summary of components of net periodic benefit cost
 Pension BenefitsPostretirement Benefits
 202420232022202420232022
Components of net periodic benefit cost
Service costs$4.3 $4.3 $4.3 $— $— $— 
Interest costs3.4 3.5 1.8 0.2 0.3 0.1 
Expected return on plan assets(10.6)(9.9)(12.9)(0.2)(0.3)(0.3)
Recognized net actuarial loss1.8 3.6 — 0.2 0.3 0.2 
Benefit (income) costs - continuing operations (1.1)1.5 (6.8)0.2 0.3 — 
Curtailment loss - discontinued operations— 0.4 — — — — 
Total benefit (income) costs$(1.1)$1.9 $(6.8)$0.2 $0.3 $— 
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive loss (income) (“AOCI”)
AOCI at beginning of year$26.9 $40.0 $10.9 $2.0 $2.4 $2.2 
Net loss amortization(1.8)(3.7)— (0.2)(0.3)(0.2)
Recognition of actuarial (gain) loss(7.3)(9.4)29.1 (0.8)(0.1)0.4 
Total recognized in accumulated other comprehensive loss at end of year$17.8 $26.9 $40.0 $1.0 $2.0 $2.4 
Schedule of other changes in plan assets and benefit obligations recognized in Accumulated Other Comprehensive (income) Loss (“AOCI”)
 Pension BenefitsPostretirement Benefits
 202420232022202420232022
Components of net periodic benefit cost
Service costs$4.3 $4.3 $4.3 $— $— $— 
Interest costs3.4 3.5 1.8 0.2 0.3 0.1 
Expected return on plan assets(10.6)(9.9)(12.9)(0.2)(0.3)(0.3)
Recognized net actuarial loss1.8 3.6 — 0.2 0.3 0.2 
Benefit (income) costs - continuing operations (1.1)1.5 (6.8)0.2 0.3 — 
Curtailment loss - discontinued operations— 0.4 — — — — 
Total benefit (income) costs$(1.1)$1.9 $(6.8)$0.2 $0.3 $— 
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive loss (income) (“AOCI”)
AOCI at beginning of year$26.9 $40.0 $10.9 $2.0 $2.4 $2.2 
Net loss amortization(1.8)(3.7)— (0.2)(0.3)(0.2)
Recognition of actuarial (gain) loss(7.3)(9.4)29.1 (0.8)(0.1)0.4 
Total recognized in accumulated other comprehensive loss at end of year$17.8 $26.9 $40.0 $1.0 $2.0 $2.4 
Summary company's expected future benefit payments
Below is a table summarizing the Company’s expected future benefit payments and the expected payments due to Medicare subsidy over the next ten years:
  Postretirement Benefits
 Pension BenefitsGrossExpected
Medicare Subsidy		Net including
Medicare Subsidy
2025$13.9 $0.6 $0.5 $0.1 
20268.2 0.5 0.5 — 
20277.9 0.5 0.5 — 
20287.3 0.4 0.4 — 
20297.2 0.4 0.4 — 
2030 to 203431.4 1.7 1.6 0.1