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

12 Months Ended

Dec. 31, 2024

Defined Benefit Plan Disclosure

Schedule of change in projected benefit obligation and plan assets

	U.S. Plans						Foreign Plans						Total
		2024			2023			2024			2023			2024		2023
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	388.5		$	388.2		$	173.3		$	175.6		$	561.8	$	563.8
Service cost		2.2			2.5			1.5			1.3			3.7		3.8
Interest cost		17.8			18.6			6.3			6.8			24.1		25.4
Plan amendments		0.2			—			—			—			0.2		—
Actuarial loss (gain)		(20.8)			8.8			(11.3)			5.7			(32.1)		14.5
Foreign exchange translation and other		—			—			(8.8)			(9.5)			(8.8)		(9.5)
Benefits paid		(46.5)			(29.6)			(7.0)			(6.6)			(53.5)		(36.2)
Projected benefit obligation at end of year		341.4			388.5			154.0			173.3			495.4		561.8
Change in plan assets:
Fair value of plan assets at beginning of year		395.6			387.0			86.0			83.6			481.6		470.6
Actual return on plan assets		8.9			37.1			6.8			7.7			15.7		44.8
Employer contributions		1.1			1.1			3.8			4.3			4.9		5.4
Foreign exchange translation and other		—			—			(4.2)			(3.0)			(4.2)		(3.0)
Benefits paid		(46.5)			(29.6)			(7.0)			(6.6)			(53.5)		(36.2)
Fair value of plan assets at end of year		359.1			395.6			85.4			86.0			444.5		481.6
Over (under) funded status at end of year	$	17.7		$	7.1		$	(68.6)		$	(87.3)		$	(50.9)	$	(80.2)
Amounts recognized on the balance sheet as of December 31:
Other long-term assets	$	31.2		$	21.2		$	3.6		$	0.7		$	34.8	$	21.9
Other accrued expenses		1.2			1.2			2.7			2.9			3.9		4.1
Accrued pension and postretirement benefit obligations		12.3			12.9			69.5			85.1			81.8		98.0
Over (under) funded status at end of year	$	17.7		$	7.1		$	(68.6)		$	(87.3)		$	(50.9)	$	(80.2)
Accumulated other comprehensive loss, net	$	(96.8)		$	(104.0)		$	(9.6)		$	(18.9)		$	(106.4)	$	(122.9)
Weighted average assumptions used to determine projected benefit obligations:
Discount rate		5.53	%		4.97	%		4.13	%		3.72	%
Rate of compensation increase		2.40	%		2.40	%		1.91	%		1.89	%

Schedule of amounts recognized in the balance sheet

	U.S. Plans						Foreign Plans						Total
		2024			2023			2024			2023			2024		2023
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	388.5		$	388.2		$	173.3		$	175.6		$	561.8	$	563.8
Service cost		2.2			2.5			1.5			1.3			3.7		3.8
Interest cost		17.8			18.6			6.3			6.8			24.1		25.4
Plan amendments		0.2			—			—			—			0.2		—
Actuarial loss (gain)		(20.8)			8.8			(11.3)			5.7			(32.1)		14.5
Foreign exchange translation and other		—			—			(8.8)			(9.5)			(8.8)		(9.5)
Benefits paid		(46.5)			(29.6)			(7.0)			(6.6)			(53.5)		(36.2)
Projected benefit obligation at end of year		341.4			388.5			154.0			173.3			495.4		561.8
Change in plan assets:
Fair value of plan assets at beginning of year		395.6			387.0			86.0			83.6			481.6		470.6
Actual return on plan assets		8.9			37.1			6.8			7.7			15.7		44.8
Employer contributions		1.1			1.1			3.8			4.3			4.9		5.4
Foreign exchange translation and other		—			—			(4.2)			(3.0)			(4.2)		(3.0)
Benefits paid		(46.5)			(29.6)			(7.0)			(6.6)			(53.5)		(36.2)
Fair value of plan assets at end of year		359.1			395.6			85.4			86.0			444.5		481.6
Over (under) funded status at end of year	$	17.7		$	7.1		$	(68.6)		$	(87.3)		$	(50.9)	$	(80.2)
Amounts recognized on the balance sheet as of December 31:
Other long-term assets	$	31.2		$	21.2		$	3.6		$	0.7		$	34.8	$	21.9
Other accrued expenses		1.2			1.2			2.7			2.9			3.9		4.1
Accrued pension and postretirement benefit obligations		12.3			12.9			69.5			85.1			81.8		98.0
Over (under) funded status at end of year	$	17.7		$	7.1		$	(68.6)		$	(87.3)		$	(50.9)	$	(80.2)
Accumulated other comprehensive loss, net	$	(96.8)		$	(104.0)		$	(9.6)		$	(18.9)		$	(106.4)	$	(122.9)
Weighted average assumptions used to determine projected benefit obligations:
Discount rate		5.53	%		4.97	%		4.13	%		3.72	%
Rate of compensation increase		2.40	%		2.40	%		1.91	%		1.89	%

Schedule of weighted average assumptions used to determine projected benefit obligations

	U.S. Plans						Foreign Plans						Total
		2024			2023			2024			2023			2024		2023
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	388.5		$	388.2		$	173.3		$	175.6		$	561.8	$	563.8
Service cost		2.2			2.5			1.5			1.3			3.7		3.8
Interest cost		17.8			18.6			6.3			6.8			24.1		25.4
Plan amendments		0.2			—			—			—			0.2		—
Actuarial loss (gain)		(20.8)			8.8			(11.3)			5.7			(32.1)		14.5
Foreign exchange translation and other		—			—			(8.8)			(9.5)			(8.8)		(9.5)
Benefits paid		(46.5)			(29.6)			(7.0)			(6.6)			(53.5)		(36.2)
Projected benefit obligation at end of year		341.4			388.5			154.0			173.3			495.4		561.8
Change in plan assets:
Fair value of plan assets at beginning of year		395.6			387.0			86.0			83.6			481.6		470.6
Actual return on plan assets		8.9			37.1			6.8			7.7			15.7		44.8
Employer contributions		1.1			1.1			3.8			4.3			4.9		5.4
Foreign exchange translation and other		—			—			(4.2)			(3.0)			(4.2)		(3.0)
Benefits paid		(46.5)			(29.6)			(7.0)			(6.6)			(53.5)		(36.2)
Fair value of plan assets at end of year		359.1			395.6			85.4			86.0			444.5		481.6
Over (under) funded status at end of year	$	17.7		$	7.1		$	(68.6)		$	(87.3)		$	(50.9)	$	(80.2)
Amounts recognized on the balance sheet as of December 31:
Other long-term assets	$	31.2		$	21.2		$	3.6		$	0.7		$	34.8	$	21.9
Other accrued expenses		1.2			1.2			2.7			2.9			3.9		4.1
Accrued pension and postretirement benefit obligations		12.3			12.9			69.5			85.1			81.8		98.0
Over (under) funded status at end of year	$	17.7		$	7.1		$	(68.6)		$	(87.3)		$	(50.9)	$	(80.2)
Accumulated other comprehensive loss, net	$	(96.8)		$	(104.0)		$	(9.6)		$	(18.9)		$	(106.4)	$	(122.9)
Weighted average assumptions used to determine projected benefit obligations:
Discount rate		5.53	%		4.97	%		4.13	%		3.72	%
Rate of compensation increase		2.40	%		2.40	%		1.91	%		1.89	%

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, 2024 and 2023:

	U.S. Plans				Foreign Plans
		2024		2023		2024		2023
Accumulated benefit obligation	$	22.1	$	23.1	$	88.3	$	142.3
Fair value of plan assets		8.6		9.1		17.7		57.0

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, 2024 and 2023:

	U.S. Plans				Foreign Plans
		2024		2023		2024		2023
Projected benefit obligation	$	22.1	$	23.2	$	90.0	$	169.3
Fair value of plan assets		8.6		9.1		17.7		81.2

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
		2024		2023		2024		2023		2024		2023
Actuarial losses, net	$	122.7	$	131.0	$	1.4	$	15.7	$	124.1	$	146.7
Prior service cost		3.7		4.8		0.4		0.5		4.1		5.3

Schedule of components of net pension expense

	U.S. Plans									Foreign Plans									Total
	2024			2023			2022			2024			2023			2022			2024		2023		2022
Components of net pension expense:
Service cost	$	2.2		$	2.5		$	3.5		$	1.5		$	1.3		$	2.5		$	3.7	$	3.8	$	6.0
Interest cost		17.8			18.6			10.6			6.3			6.8			3.4			24.1		25.4		14.0
Expected return on plan assets		(24.1)			(24.6)			(26.5)			(4.6)			(4.5)			(3.4)			(28.7)		(29.1)		(29.9)
Amortization of prior service cost		1.3			1.7			1.4			—			0.1			—			1.3		1.8		1.4
Amortization of actuarial losses		2.7			1.6			11.9			0.5			0.7			4.2			3.2		2.3		16.1
Net pension (income) expense	$	(0.1)		$	(0.2)		$	0.9		$	3.7		$	4.4		$	6.7		$	3.6	$	4.2	$	7.6
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		4.97	%		5.18	%		2.69	%		3.72	%		4.20	%		1.58	%
Expected long-term return on assets		5.50	%		5.50	%		5.50	%		5.45	%		5.45	%		3.35	%
Rate of compensation increase		2.40	%		2.40	%		2.40	%		1.89	%		1.93	%		1.75	%

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

	U.S. Plans									Foreign Plans									Total
	2024			2023			2022			2024			2023			2022			2024		2023		2022
Components of net pension expense:
Service cost	$	2.2		$	2.5		$	3.5		$	1.5		$	1.3		$	2.5		$	3.7	$	3.8	$	6.0
Interest cost		17.8			18.6			10.6			6.3			6.8			3.4			24.1		25.4		14.0
Expected return on plan assets		(24.1)			(24.6)			(26.5)			(4.6)			(4.5)			(3.4)			(28.7)		(29.1)		(29.9)
Amortization of prior service cost		1.3			1.7			1.4			—			0.1			—			1.3		1.8		1.4
Amortization of actuarial losses		2.7			1.6			11.9			0.5			0.7			4.2			3.2		2.3		16.1
Net pension (income) expense	$	(0.1)		$	(0.2)		$	0.9		$	3.7		$	4.4		$	6.7		$	3.6	$	4.2	$	7.6
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		4.97	%		5.18	%		2.69	%		3.72	%		4.20	%		1.58	%
Expected long-term return on assets		5.50	%		5.50	%		5.50	%		5.45	%		5.45	%		3.35	%
Rate of compensation increase		2.40	%		2.40	%		2.40	%		1.89	%		1.93	%		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 (1)
December 31, 2024
Equity securities:
U.S. equities — large cap	$	26.8	$	—	$	26.8	$	—	$	—
U.S. equities — small/mid cap and other		7.2		—		7.2		—		—
International equities — growth		10.3		10.3		—		—		—
International equities — other		40.9		—		40.9		—		—
Alternative investment funds		1.1		—		—		—		1.1
Fixed income securities:
U.S. fixed income securities — intermediate term		131.1		—		131.1		—		—
U.S. fixed income securities — long-term		170.6		—		170.6		—		—
International fixed income securities — other		36.0		—		36.0		—		—
Insurance contracts		17.8		—		—		17.8		—
Cash and cash equivalents		2.7		2.7		—		—		—
Total	$	444.5	$	13.0	$	412.6	$	17.8	$	1.1
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

(1) 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)

		2024		2023
Balance on January 1	$	19.5	$	24.3
Unrealized gains (losses), net		0.6		1.6
Purchases, sales and settlements, net		(1.1)		(7.2)
Foreign currency translation		(1.2)		0.8
Balance on December 31	$	17.8	$	19.5

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
2025	$	33.3	$	7.3	$	40.6
2026		28.4		7.4		35.8
2027		28.4		7.8		36.2
2028		28.3		8.1		36.4
2029		28.0		8.4		36.4
2030-2034		132.5		45.0		177.5