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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Reconciliations of Benefit Obligations, Plan Assets of Pension Plans and Funded Status of Plans
The following tables present reconciliations of plan benefit obligations, fair value of plan assets and the funded status of pension plans and other post-retirement plans as of and for the years ended December 31, 2024 and 2023:
 Pension plansOther post-retirement plans
In millions2024202320242023
Change in benefit obligations
Benefit obligation beginning of year
$97.5 $90.5 $7.6 $9.0 
Service cost1.7 1.7 — — 
Interest cost3.9 4.1 0.4 0.5 
Settlement (1)
(6.8)— — — 
Curtailment (1)
(2.0)— — — 
Actuarial (gain) loss (2)
(2.7)7.4 (0.6)(0.8)
Foreign currency translation(1.1)1.1 — — 
Benefits paid(7.2)(7.3)(0.8)(1.1)
Benefit obligation end of year$83.3 $97.5 $6.6 $7.6 
Change in plan assets
Fair value of plan assets beginning of year
$30.5 $28.4 $— $— 
Actual return on plan assets0.6 0.8 — — 
Company contributions11.2 7.6 0.8 1.1 
Settlement
(6.8)— — — 
Foreign currency translation(0.9)1.0 — — 
Benefits paid(7.2)(7.3)(0.8)(1.1)
Fair value of plan assets end of year
$27.4 $30.5 $— $— 
Funded status
Benefit obligations in excess of the fair value of plan assets
$(55.9)$(67.0)$(6.6)$(7.6)
(1) The settlement and curtailment in 2024 related to a reduction in headcount in one of our pension plans as a result of ongoing transformation initiatives.
(2) The actuarial gain in 2024 was primarily due to increases in discount rates to reflect economic conditions at December 31, 2024. The actuarial loss in 2023 was primarily due to declines in discount rates to reflect economic conditions at December 31, 2023.
Activity for our Level 3 pension plan assets held during the year ended December 31, 2024 was as follows:
In millionsDecember 31, 2024
Beginning balance$14.2 
Actual return on plan assets0.5 
Company contributions0.7 
Benefits received0.3 
Settlement(6.8)
Foreign currency translation(0.9)
Ending balance$8.0 
Amounts Recognized in Consolidated Balance Sheets
Amounts recorded in the Consolidated Balance Sheets were as follows:
 Pension plansOther post-retirement plans
In millions2024202320242023
Current liabilities$(6.2)$(6.5)$(1.0)$(1.1)
Non-current liabilities(49.7)(60.5)(5.6)(6.5)
Benefit obligations in excess of the fair value of plan assets
$(55.9)$(67.0)$(6.6)$(7.6)
Pension Plans with an Accumulated Benefit Obligation or Projected Benefit Obligation in Excess of Plan Assets
Information for pension plans with an accumulated benefit obligation or projected benefit obligation in excess of plan assets as of December 31 was as follows:
 Projected benefit obligation
exceeds the fair value
of plan assets		Accumulated benefit  obligation
exceeds the fair value of
plan assets
In millions2024202320242023
Projected benefit obligation$83.3 $97.5 $83.3 $83.5 
Fair value of plan assets27.4 30.5 27.4 18.8 
Accumulated benefit obligationN/AN/A82.6 81.9 
Components of Net Periodic Benefit Cost
Components of net periodic benefit expense for our pension plans for the years ended December 31 were as follows:
In millions202420232022
Service cost$1.7 $1.7 $2.4 
Interest cost3.9 4.1 2.5 
Expected return on plan assets(0.6)(0.8)(0.7)
Curtailment
(2.0)— — 
Net actuarial (gain) loss
(2.9)7.1 (16.4)
Net periodic benefit expense (income)
$0.1 $12.1 $(12.2)
Weighted-Average Assumptions used to Determine Domestic Benefit Obligations and Domestic Net Periodic Benefit Cost
The following table provides the weighted-average assumptions used to determine benefit obligations and net periodic benefit cost as they pertain to our pension and other post-retirement plans.
 Pension plansOther post-retirement plans
Percentages202420232022202420232022
Benefit obligation assumptions
Discount rate4.83 %4.26 %4.77 %5.31 %4.84 %5.11 %
Rate of compensation increase
3.78 %3.70 %3.80 %N/AN/AN/A
Net periodic benefit expense assumptions
Discount rate4.26 %4.77 %2.21 %4.84 %5.11 %2.34 %
Expected long-term return on plan assets
4.36 %4.76 %2.89 %N/AN/AN/A
Rate of compensation increase
3.70 %3.80 %3.61 %N/AN/AN/A
Assumed Health Care Cost Trend Rates
The assumed healthcare cost trend rates for other post-retirement plans as of December 31 were as follows:
20242023
Healthcare cost trend rate assumed for following year7.0 %6.1 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.0 %4.0 %
Year the cost trend rate reaches the ultimate trend rate20352046
Actual Overall Asset Allocation for U.S. And Non-U.S. Plans as Compared to Investment Policy Goals
Our actual overall asset allocation for our pension plans as compared to our investment policy goals as of December 31 was as follows:
 ActualTarget
Percentages2024202320242023
Fixed income70 %53 %71 %53 %
Alternative29 %47 %29 %47 %
Cash1 %— %— %— %
Plan Assets Using Fair Value Hierarchy
The fair values of our pension plan assets and their respective levels in the fair value hierarchy as of December 31, 2024 and December 31, 2023 were as follows:
 December 31, 2024
In millionsLevel 1Level 2Level 3Total
Cash and cash equivalents$0.3 $— $— $0.3 
Other investments— — 8.0 8.0 
Total investments at fair value$0.3 $— $8.0 $8.3 
Investments measured at NAV19.1 
Total$27.4 

 December 31, 2023
In millionsLevel 1Level 2Level 3Total
Cash and cash equivalents$0.2 $— $— $0.2 
Other investments— — 14.2 14.2 
Total investments at fair value$0.2 $— $14.2 $14.4 
Investments measured at NAV16.1 
Total$30.5 
Expected Future Service to Be Paid by Plans
The following benefit payments, which reflect expected future service or payout from termination, as appropriate, are expected to be paid by the plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows:
In millionsPension plansOther post-retirement plans
2025$8.0 $1.0 
20268.3 0.9 
20278.5 0.8 
20288.3 0.8 
20297.9 0.7 
2030 - 2034
34.0 2.5