Benefit Plans and Other Postretirement Benefits (Tables) - Pension Benefits

12 Months Ended

Dec. 31, 2023

Defined Benefit Plan Disclosure

Schedule of change in projected benefit obligation and plan assets

	U.S. Plans						Foreign Plans						Total
		2023			2022			2023			2022			2023		2022
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	388.2		$	495.3		$	175.6		$	265.9		$	563.8	$	761.2
Service cost		2.5			3.5			1.3			2.5			3.8		6.0
Interest cost		18.6			10.6			6.8			3.4			25.4		14.0
Plan amendments		—			2.8			—			—			—		2.8
Actuarial loss (gain)		8.8			(95.8)			5.7			(69.6)			14.5		(165.4)
Foreign exchange translation and other		—			—			(9.5)			(19.2)			(9.5)		(19.2)
Benefits paid		(29.6)			(28.2)			(6.6)			(7.4)			(36.2)		(35.6)
Projected benefit obligation at end of year		388.5			388.2			173.3			175.6			561.8		563.8
Change in plan assets:
Fair value of plan assets at beginning of year		387.0			527.5			83.6			116.5			470.6		644.0
Actual return on plan assets		37.1			(113.4)			7.7			(21.5)			44.8		(134.9)
Employer contributions		1.1			1.1			4.3			5.2			5.4		6.3
Foreign exchange translation and other		—			—			(3.0)			(9.2)			(3.0)		(9.2)
Benefits paid		(29.6)			(28.2)			(6.6)			(7.4)			(36.2)		(35.6)
Fair value of plan assets at end of year		395.6			387.0			86.0			83.6			481.6		470.6
Over (under) funded status at end of year	$	7.1		$	(1.2)		$	(87.3)		$	(92.0)		$	(80.2)	$	(93.2)
Amounts recognized on the balance sheet as of December 31:
Other long-term assets	$	21.2		$	12.9		$	0.7		$	0.7		$	21.9	$	13.6
Other accrued expenses		1.2			1.2			2.9			3.2			4.1		4.4
Accrued pension and postretirement benefit obligations		12.9			12.9			85.1			89.5			98.0		102.4
Over (under) funded status at end of year	$	7.1		$	(1.2)		$	(87.3)		$	(92.0)		$	(80.2)	$	(93.2)
Accumulated other comprehensive loss, net	$	(104.0)		$	(108.5)		$	(18.9)		$	(15.6)		$	(122.9)	$	(124.1)
Weighted average assumptions used to determine projected benefit obligations:
Discount rate		4.97	%		5.18	%		3.72	%		4.20	%
Rate of compensation increase		2.40	%		2.40	%		1.89	%		1.83	%

Schedule of amounts recognized in the balance sheet

	U.S. Plans						Foreign Plans						Total
		2023			2022			2023			2022			2023		2022
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	388.2		$	495.3		$	175.6		$	265.9		$	563.8	$	761.2
Service cost		2.5			3.5			1.3			2.5			3.8		6.0
Interest cost		18.6			10.6			6.8			3.4			25.4		14.0
Plan amendments		—			2.8			—			—			—		2.8
Actuarial loss (gain)		8.8			(95.8)			5.7			(69.6)			14.5		(165.4)
Foreign exchange translation and other		—			—			(9.5)			(19.2)			(9.5)		(19.2)
Benefits paid		(29.6)			(28.2)			(6.6)			(7.4)			(36.2)		(35.6)
Projected benefit obligation at end of year		388.5			388.2			173.3			175.6			561.8		563.8
Change in plan assets:
Fair value of plan assets at beginning of year		387.0			527.5			83.6			116.5			470.6		644.0
Actual return on plan assets		37.1			(113.4)			7.7			(21.5)			44.8		(134.9)
Employer contributions		1.1			1.1			4.3			5.2			5.4		6.3
Foreign exchange translation and other		—			—			(3.0)			(9.2)			(3.0)		(9.2)
Benefits paid		(29.6)			(28.2)			(6.6)			(7.4)			(36.2)		(35.6)
Fair value of plan assets at end of year		395.6			387.0			86.0			83.6			481.6		470.6
Over (under) funded status at end of year	$	7.1		$	(1.2)		$	(87.3)		$	(92.0)		$	(80.2)	$	(93.2)
Amounts recognized on the balance sheet as of December 31:
Other long-term assets	$	21.2		$	12.9		$	0.7		$	0.7		$	21.9	$	13.6
Other accrued expenses		1.2			1.2			2.9			3.2			4.1		4.4
Accrued pension and postretirement benefit obligations		12.9			12.9			85.1			89.5			98.0		102.4
Over (under) funded status at end of year	$	7.1		$	(1.2)		$	(87.3)		$	(92.0)		$	(80.2)	$	(93.2)
Accumulated other comprehensive loss, net	$	(104.0)		$	(108.5)		$	(18.9)		$	(15.6)		$	(122.9)	$	(124.1)
Weighted average assumptions used to determine projected benefit obligations:
Discount rate		4.97	%		5.18	%		3.72	%		4.20	%
Rate of compensation increase		2.40	%		2.40	%		1.89	%		1.83	%

Schedule of weighted average assumptions used to determine projected benefit obligations

	U.S. Plans						Foreign Plans						Total
		2023			2022			2023			2022			2023		2022
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	388.2		$	495.3		$	175.6		$	265.9		$	563.8	$	761.2
Service cost		2.5			3.5			1.3			2.5			3.8		6.0
Interest cost		18.6			10.6			6.8			3.4			25.4		14.0
Plan amendments		—			2.8			—			—			—		2.8
Actuarial loss (gain)		8.8			(95.8)			5.7			(69.6)			14.5		(165.4)
Foreign exchange translation and other		—			—			(9.5)			(19.2)			(9.5)		(19.2)
Benefits paid		(29.6)			(28.2)			(6.6)			(7.4)			(36.2)		(35.6)
Projected benefit obligation at end of year		388.5			388.2			173.3			175.6			561.8		563.8
Change in plan assets:
Fair value of plan assets at beginning of year		387.0			527.5			83.6			116.5			470.6		644.0
Actual return on plan assets		37.1			(113.4)			7.7			(21.5)			44.8		(134.9)
Employer contributions		1.1			1.1			4.3			5.2			5.4		6.3
Foreign exchange translation and other		—			—			(3.0)			(9.2)			(3.0)		(9.2)
Benefits paid		(29.6)			(28.2)			(6.6)			(7.4)			(36.2)		(35.6)
Fair value of plan assets at end of year		395.6			387.0			86.0			83.6			481.6		470.6
Over (under) funded status at end of year	$	7.1		$	(1.2)		$	(87.3)		$	(92.0)		$	(80.2)	$	(93.2)
Amounts recognized on the balance sheet as of December 31:
Other long-term assets	$	21.2		$	12.9		$	0.7		$	0.7		$	21.9	$	13.6
Other accrued expenses		1.2			1.2			2.9			3.2			4.1		4.4
Accrued pension and postretirement benefit obligations		12.9			12.9			85.1			89.5			98.0		102.4
Over (under) funded status at end of year	$	7.1		$	(1.2)		$	(87.3)		$	(92.0)		$	(80.2)	$	(93.2)
Accumulated other comprehensive loss, net	$	(104.0)		$	(108.5)		$	(18.9)		$	(15.6)		$	(122.9)	$	(124.1)
Weighted average assumptions used to determine projected benefit obligations:
Discount rate		4.97	%		5.18	%		3.72	%		4.20	%
Rate of compensation increase		2.40	%		2.40	%		1.89	%		1.83	%

Pension plans with an accumulated benefit obligation in excess of plan assets

The following summarizes information for defined benefit plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2023 and 2022:

	U.S. Plans				Foreign Plans
		2023		2022		2023		2022
Accumulated benefit obligation	$	23.1	$	22.8	$	142.3	$	147.2
Fair value of plan assets		9.1		8.9		57.0		57.7

Pension plans with a projected benefit obligation in excess of plan assets

The following summarizes information for defined benefit plans with a projected benefit obligation in excess of plan assets as of December 31, 2023 and 2022:

	U.S. Plans				Foreign Plans
		2023		2022		2023		2022
Projected benefit obligation	$	23.2	$	22.9	$	169.3	$	170.7
Fair value of plan assets		9.1		8.9		81.2		77.9

Schedule of amounts, before tax, included in Accumulated other comprehensive loss that have not yet been recognized as expense

	U.S. Plans				Foreign Plans				Total
		2023		2022		2023		2022		2023		2022
Actuarial losses, net	$	131.0	$	136.3	$	15.7	$	11.0	$	146.7	$	147.3
Prior service cost		4.8		6.5		0.5		0.5		5.3		7.0

Schedule of components of net pension expense

	U.S. Plans									Foreign Plans									Total
	2023			2022			2021			2023			2022			2021			2023		2022		2021
Components of net pension expense:
Service cost	$	2.5		$	3.5		$	4.2		$	1.3		$	2.5		$	3.3		$	3.8	$	6.0	$	7.5
Interest cost		18.6			10.6			8.6			6.8			3.4			2.7			25.4		14.0		11.3
Expected return on plan assets		(24.6)			(26.5)			(28.1)			(4.5)			(3.4)			(3.1)			(29.1)		(29.9)		(31.2)
Amortization of prior service cost		1.7			1.4			1.9			0.1			—			0.2			1.8		1.4		2.1
Amortization of actuarial losses		1.6			11.9			17.8			0.7			4.2			7.0			2.3		16.1		24.8
Net pension (income) expense	$	(0.2)		$	0.9		$	4.4		$	4.4		$	6.7		$	10.1		$	4.2	$	7.6	$	14.5
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		5.18	%		2.69	%		2.30	%		4.20	%		1.58	%		1.12	%
Expected long-term return on assets		5.50	%		5.50	%		6.00	%		5.45	%		3.35	%		2.71	%
Rate of compensation increase		2.40	%		2.40	%		2.40	%		1.93	%		1.75	%		1.75	%

Schedule of weighted average assumptions used to determine net benefit cost/expense

	U.S. Plans									Foreign Plans									Total
	2023			2022			2021			2023			2022			2021			2023		2022		2021
Components of net pension expense:
Service cost	$	2.5		$	3.5		$	4.2		$	1.3		$	2.5		$	3.3		$	3.8	$	6.0	$	7.5
Interest cost		18.6			10.6			8.6			6.8			3.4			2.7			25.4		14.0		11.3
Expected return on plan assets		(24.6)			(26.5)			(28.1)			(4.5)			(3.4)			(3.1)			(29.1)		(29.9)		(31.2)
Amortization of prior service cost		1.7			1.4			1.9			0.1			—			0.2			1.8		1.4		2.1
Amortization of actuarial losses		1.6			11.9			17.8			0.7			4.2			7.0			2.3		16.1		24.8
Net pension (income) expense	$	(0.2)		$	0.9		$	4.4		$	4.4		$	6.7		$	10.1		$	4.2	$	7.6	$	14.5
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		5.18	%		2.69	%		2.30	%		4.20	%		1.58	%		1.12	%
Expected long-term return on assets		5.50	%		5.50	%		6.00	%		5.45	%		3.35	%		2.71	%
Rate of compensation increase		2.40	%		2.40	%		2.40	%		1.93	%		1.75	%		1.75	%

Fair values of Company's pension plan assets by asset category

									Assets Measured at
Asset Category	Total		Level 1		Level 2		Level 3		Net Asset Value (a)
December 31, 2023
Equity securities:
U.S. equities — large cap	$	29.0	$	—	$	29.0	$	—	$	—
U.S. equities — small/mid cap and other		8.7		—		8.7		—		—
International equities — growth		22.1		12.3		9.8		—		—
International equities — other		25.7		—		25.7		—		—
Alternative investment funds		5.6		—		—		—		5.6
Fixed income securities:
U.S. fixed income securities — intermediate term		113.5		—		113.5		—		—
U.S. fixed income securities — long term		210.9		—		210.9		—		—
International fixed income securities — other		39.7		—		39.7		—		—
Insurance contracts		19.5		—		—		19.5		—
Cash and cash equivalents		6.9		6.9		—		—		—
Total	$	481.6	$	19.2	$	437.3	$	19.5	$	5.6
December 31, 2022
Equity securities:
U.S. equities — large cap	$	44.1	$	—	$	44.1	$	—	$	—
U.S. equities — small/mid cap and other		13.0		—		13.0		—		—
International equities — growth		28.7		19.7		9.0		—		—
International equities — other		38.4		—		38.4		—		—
Alternative investment funds		14.6		—		—		—		14.6
Fixed income securities:
U.S. fixed income securities — intermediate term		83.6		—		83.6		—		—
U.S. fixed income securities — long term		181.3		—		181.3		—		—
International fixed income securities — other		34.0		—		34.0		—		—
Insurance contracts		24.3		—		—		24.3		—
Cash and cash equivalents		8.6		8.6		—		—		—
Total	$	470.6	$	28.3	$	403.4	$	24.3	$	14.6

(a) Certain investments measured at fair value using the net asset value practical expedient have been removed from the fair value hierarchy but included in the table above in order to permit the reconciliation of the fair value hierarchy to total plan assets.

Reconciliation of fair value measurements using significant unobservable inputs (Level 3)

		2023		2022
Balance on January 1	$	24.3	$	34.1
Unrealized gains (losses), net		1.6		(6.2)
Purchases, sales and settlements, net		(7.2)		(1.3)
Foreign currency translation		0.8		(2.3)
Balance on December 31	$	19.5	$	24.3

Benefit payments related to the pension plans, including amounts to be paid out of Company assets and reflecting future expected service

	U.S.		Foreign
Year	Plans		Plans		Total
2024	$	38.5	$	7.5	$	46.0
2025		29.9		7.7		37.6
2026		30.1		8.0		38.1
2027		30.1		8.3		38.4
2028		30.0		8.6		38.6
2029-2033		142.6		46.1		188.7