Divestitures (Tables)

6 Months Ended

Jun. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Schedule of the Net Pre-Tax Loss and Assets and Liabilities

The following table summarizes the total net pre-tax loss recognized within other income (expense), net and selling, general and administrative expenses on our condensed consolidated statement of operations during the six months ended June 30, 2025 in connection with the divestiture (in millions):

Sale price	$	290.0
Less: Working capital and other customary closing adjustments	(4.0)
Proceeds from sale, net of cash retained and net working capital and customary closing adjustments	286.0
Less: Estimated future net working capital and customary closing adjustments (1)	(2.4)
Proceeds from sale, net of cash retained and estimated net working capital and customary closing adjustments	283.6
Less:
Carrying value of net assets divested	287.7
Direct costs to sell	2.7
Indemnification provided	2.1
Accumulated other comprehensive loss reclassification adjustment, foreign currency translation	13.8
Loss on sale, before taxes	$	(22.7)
(1) Certain working capital adjustments are to be finalized over a defined period from the close of sale. Any resulting revisions will be settled in cash, with an offsetting impact recognized in loss on sale.

The following table summarizes the major categories of assets and liabilities sold (in millions):

	May 31, 2025
Assets
Accounts receivable	$	11.7
Inventories	86.2
Property, plant and equipment, net	11.8
Operating lease right-of-use assets, net	67.4
Trade names and trademarks	212.2
Goodwill and other intangible assets	16.2
Other assets	36.2
Total assets	$	441.7
Liabilities
Accounts payable and accrued expenses	$	48.6
Operating lease liabilities	64.7
Other liabilities	40.7
Total liabilities	$	154.0
Carrying value of net assets sold	$	287.7