Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Consolidated Income (loss) from Continuing Operations Before Income Taxes by Location

The “Income before income tax expense” line item in the consolidated statements of operations consisted of:

(Dollars in millions)	2024		2023		2022
Domestic	$	(13.9)	$	9.1	$	58.4
Foreign	48.2		67.2		82.0
Total	$	34.3	$	76.3	$	140.4

Schedule of Income Tax Expense (Benefit) by Location

The “Income tax expense” line item in the consolidated statements of operations consisted of:

(Dollars in millions)	Current		Deferred		Total
2024
Domestic	$	2.7	$	(6.9)	$	(4.2)
Foreign	22.8		(10.4)		12.4
Total	$	25.5	$	(17.3)	$	8.2
2023
Domestic	$	0.4	$	(0.6)	$	(0.2)
Foreign	22.9		(3.0)		19.9
Total	$	23.3	$	(3.6)	$	19.7
2022
Domestic	$	26.8	$	(18.8)	$	8.0
Foreign	17.6		(1.8)		15.8
Total	$	44.4	$	(20.6)	$	23.8

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities as of December 31, 2024 and 2023, were comprised of the following:

(Dollars in millions)	2024		2023
Deferred tax assets
Accrued employee benefits and compensation	$	8.7	$	7.7
Net operating loss carryforwards	16.4		11.8
Tax credit carryforwards	7.0		6.7
Reserves and accruals	8.4		5.7
Operating leases	2.2		3.6
Capitalized research and development	30.4		25.6
Other	14.6		6.9
Total deferred tax assets	87.7		68.0
Less deferred tax asset valuation allowance	(12.5)		(11.4)
Total deferred tax assets, net of valuation allowance	75.2		56.6
Deferred tax liabilities
Depreciation and amortization	24.8		17.7
Postretirement benefit obligations	1.0		0.7
Unremitted earnings	1.3		1.5
Operating leases	2.6		4.1
Other	2.0		5.8
Total deferred tax liabilities	31.7		29.8
Net deferred tax asset (liability)	$	43.5	$	26.8

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differs from the amount computed by applying the U.S. federal statutory income tax rate to income before income taxes. The reasons for this difference were as follows:

(Dollars in millions)	2024		2023		2022
Tax expense at Federal statutory income tax rate	$	7.2	$	16.0	$	29.5
Impact of foreign operations	2.8		4.0		1.5
Foreign source income, net of tax credits	(2.7)		(2.3)		(6.5)
State tax, net of federal impact	0.9		(0.5)		6.9
Deferred tax adjustment	—		1.2		—
Unrecognized tax benefits	(1.5)		(0.2)		1.9
Equity compensation	1.7		0.3		(3.0)
General business credits	(1.6)		(2.4)		(0.8)
Distribution related foreign taxes	1.4		1.1		1.5
Executive compensation limitation	0.9		0.9		2.9
Valuation allowance change	(0.8)		0.7		(6.9)
JV separation non-taxable	(1.5)		—		—
Taxable currency fluctuations	1.0		—		—
Other	0.4		0.9		(3.2)
Income tax expense	$	8.2	$	19.7	$	23.8

Schedule of Reconciliation of Unrecognized Tax Benefits

Unrecognized tax benefits, excluding potential interest and penalties, for the years ended December 31, 2024 and 2023, were as follows:

(Dollars in millions)	2024		2023		2022
Beginning balance as of January 1	$	8.5	$	8.9	$	6.6
Gross increases - current period tax positions	0.2		1.1		3.4
Gross increases - tax positions in prior periods	—		—		0.2
Gross decreases - tax positions in prior periods	—		(0.5)		(0.2)
Foreign currency exchange	—		0.1		(0.1)
Settlements and remeasurements	(1.8)		0.1		(1.0)
Lapse of statute of limitations	(0.1)		(1.2)		—
Ending balance as of December 31	$	6.8	$	8.5	$	8.9