v3.25.4

Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2025
Retirement Benefits [Abstract] |
Reconciliations of Benefit Obligations, Plan Assets of Pension Plans and Funded Status of Plans | The following tables present reconciliations of plan benefit obligations, fair value of plan assets and the funded status of pension plans and a post-retirement health plan as of and for the years ended December 31:
| Pension plans |  | Post-retirement health plan
In millions | 2025 | 2024 |  | 2025 | 2024
Change in benefit obligations |  |  |  |  |
Benefit obligation beginning of year | $ | 120.3 |  | $ | 125.9 |  |  | $ | 11.4 |  | $ | 12.5 |
Service cost | 1.0 |  | 1.1 |  |  | — |  | 0.1 |
Interest cost | 4.6 |  | 4.0 |  |  | 0.6 |  | 0.6 |
Actuarial (gain) loss | (12.8) |  | 0.6 |  |  | (0.2) |  | (1.0) |
Foreign currency translation | 15.0 |  | (7.5) |  |  | — |  | — |
Benefits paid | (5.4) |  | (3.8) |  |  | (0.7) |  | (0.8) |
Benefit obligation end of year | $ | 122.7 |  | $ | 120.3 |  |  | $ | 11.1 |  | $ | 11.4 |
Change in plan assets |  |  |  |  |
Fair value of plan assets beginning of year | $ | 3.1 |  | $ | 3.2 |  |  | $ | — |  | $ | — |
Actual return on plan assets | 0.2 |  | — |  |  | — |  | — |
Company contributions | 4.7 |  | 3.9 |  |  | 0.7 |  | 0.8 |
Foreign currency translation | 0.4 |  | (0.2) |  |  | — |  | — |
Benefits paid | (5.4) |  | (3.8) |  |  | (0.7) |  | (0.8) |
Fair value of plan assets end of year | $ | 3.0 |  | $ | 3.1 |  |  | $ | — |  | $ | — |
Funded status |  |  |  |  |
Fair value of plan assets end of year | $ | 3.0 |  | $ | 3.1 |  |  | $ | — |  | $ | — |
Benefit obligation end of year | 122.7 |  | 120.3 |  |  | 11.1 |  | 11.4 |
Benefit obligations in excess of the fair value of plan assets | $ | (119.7) |  | $ | (117.2) |  |  | $ | (11.1) |  | $ | (11.4) |
Amounts Recognized in Consolidated Balance Sheets | Amounts recorded in the Consolidated Balance Sheets at December 31 were as follows:
| Pension plans |  | Post-retirement health plan
In millions | 2025 | 2024 |  | 2025 | 2024
Current liabilities | $ | (5.2) |  | $ | (4.4) |  |  | $ | (1.1) |  | $ | (1.1) |
Non-current liabilities | (114.5) |  | (112.8) |  |  | (10.0) |  | (10.3) |
Benefit obligations in excess of the fair value of plan assets | $ | (119.7) |  | $ | (117.2) |  |  | $ | (11.1) |  | $ | (11.4) |
Pension Plans with an Accumulated Benefit Obligation or Projected Benefit Obligation in Excess of Plan Assets | Information for pension plans with an accumulated benefit obligation or projected benefit obligation in excess of plan assets as of December 31 was as follows:
| Projected benefit obligation exceeds the fair value of plan assets |  | Accumulated benefit obligation exceeds the fair value of plan assets
In millions | 2025 | 2024 |  | 2025 | 2024
Projected benefit obligation | $ | 122.7 |  | $ | 120.3 |  |  | $ | 121.9 |  | $ | 119.5 |
Fair value of plan assets | 3.0 |  | 3.1 |  |  | 2.2 |  | 2.4 |
Accumulated benefit obligation | N/A | N/A |  | 121.1 |  | 118.7 |
Components of Net Periodic Benefit Cost | Components of net periodic benefit expense (income) for our pension plans were as follows for the years ended December 31:
In millions | 2025 | 2024 | 2023
Service cost | $ | 1.0 |  | $ | 1.1 |  | $ | 1.1 |
Interest cost | 4.6 |  | 4.0 |  | 4.5 |
Expected return on plan assets | (0.1) |  | (0.1) |  | (0.1) |
Net actuarial loss (gain) | (12.9) |  | 0.6 |  | 13.9 |
Net periodic benefit expense (income) | $ | (7.4) |  | $ | 5.6 |  | $ | 19.4 |
Weighted-Average Assumptions used to Determine Domestic Benefit Obligations and Domestic Net Periodic Benefit Cost | Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:
| Pension plans |  | Post-retirement health plan
Percentages | 2025 | 2024 | 2023 |  | 2025 | 2024 | 2023
Discount rate | 4.20 | % | 3.47 | % | 3.47 | % |  | 5.21 | % | 5.48 | % | 4.94 | %
Rate of compensation increase | 3.49 | % | 3.48 | % | 3.47 | % |  | — |  | — |  | — |
Weighted-average assumptions used to determine net periodic benefit expense (income) for years ended December 31 were as follows:
| Pension plans |  | Post-retirement health plan
Percentages | 2025 | 2024 | 2023 |  | 2025 | 2024 | 2023
Discount rate | 3.47 | % | 3.47 | % | 4.22 | % |  | 5.48 | % | 4.94 | % | 5.19 | %
Expected long-term return on plan assets | 2.62 | % | 2.71 | % | 2.73 | % |  | — |  | — |  | — |
Rate of compensation increase | 3.48 | % | 3.47 | % | 3.49 | % |  | — |  | — |  | — |
Expected Future Service to Be Paid by Plans | The following benefit payments, which reflect expected future service or payout from termination, as appropriate, are expected to be paid by the plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows:
In millions | Pension plans | Post-retirement health plan
2026 | $ | 5.4 |  | $ | 1.1 |
2027 | 6.4 |  | 1.1 |
2028 | 6.6 |  | 1.0 |
2029 | 6.8 |  | 1.0 |
2030 | 7.0 |  | 1.0 |
2031-2035 | 36.5 |  | 4.3 |

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