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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Reconciliation of Beginning and Ending Liability for Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of the liability for unrecognized tax benefits is as follows:
($ in millions) | 2025 |  | 2024 |  | 2023
Balance at January 1 | $ | 43.6 |  |  | $ | 38.8 |  |  | $ | 36.5 |
Increase due to current year position | 16.4 |  |  | 5.3 |  |  | 6.4 |
Increase (decrease) due to prior year position | 0.5 |  |  | 0.7 |  |  | (1.0) |
Reduction for expiration of statute of limitations/audits | (4.4) |  |  | (1.2) |  |  | (3.1) |
Balance at December 31 | $ | 56.1 |  |  | $ | 43.6 |  |  | $ | 38.8 |
Schedule of Components of Income Before Income Taxes | The components of income before income taxes and equity in net income of affiliated companies are:
($ in millions) | 2025 |  | 2024 |  | 2023
U.S. operations | $ | 228.3 |  |  | $ | 243.4 |  |  | $ | 369.4 |
International operations | 372.6 |  |  | 342.1 |  |  | 328.6 |
Total income before income taxes and equity in net income of affiliated companies | $ | 600.9 |  |  | $ | 585.5 |  |  | $ | 698.0 |
Schedule of Components of Income Tax Expense | The related provision for income taxes consists of:
($ in millions) | 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |
Federal | $ | 44.3 |  |  | $ | 29.8 |  |  | $ | 30.2 |
State | 8.0 |  |  | 2.1 |  |  | (4.2) |
International | 83.0 |  |  | 79.1 |  |  | 58.8 |
Current income tax provision | 135.3 |  |  | 111.0 |  |  | 84.8 |
Deferred: |  |  |  |  |
Federal | (14.2) |  |  | (16.6) |  |  | (11.8) |
State | 0.2 |  |  | (1.7) |  |  | 0.2 |
International | 0.3 |  |  | 14.8 |  |  | 49.1 |
Deferred income tax provision | (13.7) |  |  | (3.5) |  |  | 37.5 |
Income tax expense | $ | 121.6 |  |  | $ | 107.5 |  |  | $ | 122.3 |
Schedule of Deferred Tax Assets and Liabilities | The significant components of our deferred tax assets and liabilities at December 31 are:
($ in millions) | 2025 |  | 2024
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 3.2 |  |  | $ | 6.1 |
Tax credit carryforwards | 7.6 |  |  | 2.1 |
Pension and deferred compensation | 43.9 |  |  | 28.9 |
Other | 17.0 |  |  | 17.9 |
Capitalized R&D expenses | 32.3 |  |  | 30.1 |
Leases | 26.3 |  |  | 21.5 |
Valuation allowance | (16.2) |  |  | (12.8) |
Total deferred tax assets | 114.1 |  |  | 93.8 |
Deferred tax liabilities: |  |  |
Property, plant, and equipment | 64.7 |  |  | 60.9 |
Tax on undistributed earnings of subsidiaries | 2.3 |  |  | 0.4 |
Leases | 25.7 |  |  | 22.0 |
Other | 6.0 |  |  | 5.0 |
Total deferred tax liabilities | 98.7 |  |  | 88.3 |
Net deferred tax asset | $ | 15.4 |  |  | $ | 5.5 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the U.S. federal corporate tax rate to our effective consolidated tax rate on income before income taxes and equity in net income of affiliated companies is as follows:
| 2025
| Amount ($ in millions) |  | Rate (%)
US federal statutory income tax rate | $ | 126.2 |  |  | 21.0 | %
State and local income tax, net of federal (national) effect(1) | 6.1 |  |  | 1.0 |
Foreign tax effects: |  |  |
Germany: |  |  |
Trade tax | 18.4 |  |  | 3.1 |
Other | (3.9) |  |  | (0.7) |
Ireland: |  |  |
Effect of rates different than statutory | (8.8) |  |  | (1.5) |
Other | 3.8 |  |  | 0.7 |
Other foreign jurisdictions | 0.2 |  |  | — |
Effect of cross border taxes: |  |  |
Foreign-derived intangible income | (15.2) |  |  | (2.5) |
Other | 9.5 |  |  | 1.6 |
Tax Credits: |  |  |
Foreign tax credit | (27.9) |  |  | (4.6) |
Other | (2.9) |  |  | (0.5) |
Nontaxable and nondeductible items, net | 1.3 |  |  | 0.2 |
Changes in valuation allowances | 5.2 |  |  | 0.9 |
Other adjustments | (2.9) |  |  | (0.6) |
Changes in unrecognized tax benefits | 12.5 |  |  | 2.1 |
Effective tax rate | $ | 121.6 |  |  | 20.2 | %
(1) State taxes in Arizona, Illinois, and Pennsylvania, contributed to the majority of the tax effect in this category.
|  |  | 2024 |  | 2023
U.S. federal corporate tax rate |  |  | 21.0 | % |  | 21.0 | %
Tax on international operations other than U.S. tax rate |  |  | 1.5 |  |  | 1.2 |
Adjustments to reserves for unrecognized tax benefits |  |  | 0.8 |  |  | 0.3 |
U.S. tax on international earnings, net of foreign tax credits |  |  | 0.1 |  |  | 0.5 |
Foreign-Derived Intangible Income Deductions (FDII) |  |  | (1.2) |  |  | (1.6) |
State income taxes, net of federal tax effect |  |  | 0.3 |  |  | 0.1 |
U.S. research and development credits |  |  | (0.6) |  |  | (0.7) |
Excess tax benefits on share-based payments |  |  | (3.3) |  |  | (4.6) |
Royalty acceleration |  |  | — |  |  | 0.5 |
Tax on undistributed earnings of subsidiaries |  |  | (0.5) |  |  | 0.3 |
Other |  |  | 0.3 |  |  | 0.5 |
Effective tax rate |  |  | 18.4 | % |  | 17.5 | %
Schedule of Cash Payments for Taxes | Total income taxes paid (net of refunds) consists of:
($ in millions) | 2025 |  | 2024 |  | 2023
Federal | $ | 22.3 |  |  |  |  |
State | (1.0) |  |  |  |  |
Foreign: |  |  |  |  |
France | 8.6 |  |  |  |
Germany - Federal | 24.5 |  |  |  |
Germany - Eschweiler | 21.8 |  |  |  |
Ireland | 15.8 |  |  |  |
Other foreign | 33.2 |  |  |  |
Total | $ | 125.2 |  |  | $ | 71.4 |  |  | $ | 90.8 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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