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Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Values of Financial Assets and Liabilities

The fair values of the Company’s financial assets and liabilities were as follows (in millions):

		Level 1				Level 2				Level 3				Total
June 30, 2025
Assets:
Rabbi trust (a)		$	10.9			$	—			$	—			$	10.9
Investment in equity securities (b)			9.1				—				—				9.1
Foreign currency exchange derivatives (c)			—				3.0				—				3.0
Liabilities:
Foreign currency exchange derivatives (c)		$	—			$	0.8			$	—			$	0.8
December 31, 2024
Assets:
Rabbi trust (a)		$	13.6			$	—			$	—			$	13.6
Investment in equity securities (b)			5.2				—				—				5.2
Foreign currency exchange derivatives (c)			—				1.7				—				1.7
Liabilities:
Foreign currency exchange derivatives (c)		$	—			$	1.0			$	—			$	1.0

a)Represents investments held in a rabbi trust for the Company’s non-qualified supplemental executive retirement plan (SERP). The fair values of these investments are determined using a market approach. Investments include money markets and mutual funds for which quoted prices in active markets are available. Rabbi trust assets are subject to claims of the Company's creditors. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income.

b)Represents investments in equity securities for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income.

c)Based on observable market transactions of forward currency prices.

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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