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Derivative Instruments and Risk Management | 9 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments and Risk Management | 9. Derivative Instruments and Risk Management Changes in interest rates, foreign exchange rates, the price of the Company’s Common Stock and commodity prices expose the Company to market risk. The Company manages these risks by the use of derivative instruments, such as cash flow and fair value hedges, diesel and commodity hedge contracts, equity derivatives and foreign exchange forward contracts. The Company does not use derivatives for trading or speculative purposes. Refer to Note 3 in the Form 10-K for a discussion of each of the Company’s derivative instruments in effect as of December 31, 2024. The notional amount of a derivative instrument is the nominal or face amount used to calculate payments made on that instrument. Notional amounts are presented in the following table:
|  | Notional |  |  | Notional |
|  | Amount |  |  | Amount |
|  | September 30, 2025 |  |  | December 31, 2024 |
Derivatives designated as hedging instruments |  |  |  |  |  |
Foreign exchange contracts |  | $ | 453.2 |  |  | $ | 317.0 |
Diesel fuel contracts |  | 1.8 gallons |  |  | 0.8 gallons |
Net Investment hedge |  | $ | 25.0 |  |  | $ | 0.0 |
Derivatives not designated as hedging instruments |  |  |  |  |  |
Foreign exchange contracts |  | $ | 0.7 |  |  | $ | 0.0 |
Equity derivatives |  | $ | 21.0 |  |  | $ | 24.6 |
The fair values and amount of gain (loss) recognized in income and Other Comprehensive Income (“OCI”) associated with the derivative instruments disclosed above did not have a material impact on the Company’s condensed consolidated financial statements during th e three and nine months ended September 30, 2025.

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