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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Retirement Benefits [Abstract] |
Schedule of Components of Net Periodic Pension Income | The components of net periodic pension cost (income) are as follows:
| U.S. Plan |  | International Plans
| Year Ended December 31, |  | Year Ended December 31,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023
Interest cost | $ | 2.2 |  |  | $ | 2.4 |  |  | $ | 1.7 |  |  | $ | 1.3 |  |  | $ | 1.2 |
Service cost | — |  |  | — |  |  | — |  |  | 0.9 |  |  | 0.7 |
Expected return on plan assets | (3.0) |  |  | (3.3) |  |  | (4.3) |  |  | (1.8) |  |  | (1.3) |
Amortization of net loss | — |  |  | 0.9 |  |  | 0.5 |  |  | — |  |  | — |
Net settlement loss | 1.1 |  |  | — |  |  | — |  |  | — |  |  | — |
Total net periodic pension cost (income) | $ | 0.3 |  |  | $ | — |  |  | $ | (2.1) |  |  | $ | 0.4 |  |  | $ | 0.6 |
Schedule of Changes in Projected Benefit Obligation and Plan Assets, Funded Status and Amounts Recognized on the Balance Sheet | The other changes in plan assets and projected benefit obligations recognized in other comprehensive (loss) income, on a pre-tax basis, are as follows:
| U.S. Plan |  | International Plans
| Year Ended December 31, |  | Year Ended December 31,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023
Net actuarial loss (gain) | $ | 3.1 |  |  | $ | (5.9) |  |  | $ | 1.7 |  |  | $ | (2.4) |  |  | $ | 0.1 |
Net amortization | — |  |  | (0.9) |  |  | (0.5) |  |  | — |  |  | $ | — |
Effect of foreign exchange rates | — |  |  | — |  |  | — |  |  | — |  |  | 4.7 |
Net settlement loss | (1.1) |  |  | — |  |  | — |  |  | — |  |  | — |
Total recognized in other comprehensive (loss) income | $ | 2.0 |  |  | $ | (6.8) |  |  | $ | 1.2 |  |  | $ | (2.4) |  |  | $ | 4.8 |
The changes in the projected benefit obligation and plan assets, the funded status of the plans and the amounts recognized in the consolidated balance sheets are as follows:
| U.S. Plan |  | International Plans
| December 31, |  | December 31,
| 2024 |  | 2023 |  | 2024 |  |  | 2023
Change in projected benefit obligation: |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year | $ | 48.1 |  |  | $ | 50.0 |  |  | $ | 43.0 |  |  |  | $ | — |
Acquisition of Howden (1) | — |  |  | — |  |  | — |  |  |  | 41.1 |
Interest cost | 2.2 |  |  | 2.4 |  |  | 1.3 |  |  |  | 1.2 |
Service cost | — |  |  | — |  |  | 0.9 |  |  |  | 0.7 |
Benefits paid | (3.5) |  |  | (3.1) |  |  | (2.1) |  |  |  | (2.0) |
Actuarial losses (gains) | 0.4 |  |  | (1.2) |  |  | (1.2) |  |  |  | 0.4 |
Settlements | (7.7) |  |  | — |  |  | (0.2) |  |  |  | — |
Foreign exchange rate impact | — |  |  | — |  |  | (2.5) |  |  |  | 1.6 |
Projected benefit obligation at year end | 39.5 |  |  | 48.1 |  |  | 39.2 |  |  |  | 43.0 |
Accumulated benefit obligation at year end | 39.5 |  |  | 48.1 |  |  | 37.5 |  |  |  | 41.2 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | 54.0 |  |  | 49.1 |  |  | 41.8 |  |  |  | — |
Acquisition of Howden (1) | — |  |  | — |  |  | — |  |  |  | 38.7 |
Actual return | 1.0 |  |  | 8.0 |  |  | 3.3 |  |  |  | 1.6 |
Employer contributions | — |  |  | — |  |  | 2.2 |  |  |  | 1.9 |
Benefits paid | (3.5) |  |  | (3.1) |  |  | (2.1) |  |  |  | (2.0) |
Expenses paid | (0.7) |  |  | — |  |  | — |  |  |  | — |
Settlements | (7.7) |  |  | — |  |  | (0.2) |  |  |  | — |
Foreign exchange rate impact | — |  |  | — |  |  | (2.6) |  |  |  | 1.6 |
Fair value of plan assets at year end | 43.1 |  |  | 54.0 |  |  | 42.4 |  |  |  | 41.8 |
Funded status (accrued pension asset (liability)) | $ | 3.6 |  |  | $ | 5.9 |  |  | $ | 3.2 |  |  |  | $ | (1.2) |
Amounts recognized on the consolidated balance sheet at December 31: |  |  |  |  |  |  |  |
Non-current assets | $ | 3.7 |  |  | $ | 5.9 |  |  | $ | 10.2 |  |  |  | $ | 5.8 |
Current liabilities | — |  |  | — |  |  | (0.4) |  |  |  | (0.3) |
Non-current liabilities | — |  |  | — |  |  | (6.6) |  |  |  | (6.7) |
Recognized accrued pension asset (liability) | $ | 3.7 |  |  | $ | 5.9 |  |  | $ | 3.2 |  |  |  | $ | (1.2) |
Unrecognized actuarial loss (gain) recognized in accumulated other comprehensive loss | $ | 5.6 |  |  | $ | 3.5 |  |  | $ | (2.3) |  |  |  | $ | 0.1 |
_______________ (1)The 2023 changes in the projected benefit obligation and plan assets reflect the effect of the Howden Acquisition.
Schedule of Accumulated and Projected Benefit Obligations | International Plans with accumulated benefit obligations in excess of plan assets consist of the following:
| International Plans
| December 31,
| 2024 |  | 2023
Projected benefit obligation | $ | 6.7 |  |  | $ | 6.7 |
Accumulated benefit obligation | 5.7 |  |  | 5.7 |
Fair value of plan assets | 0.3 |  |  | 0.3 |
International Plans with projected benefit obligations in excess of plan assets consist of the following:
| International Plans
| December 31,
| 2024 |  | 2023
Projected benefit obligation | $ | 10.2 |  |  | $ | 10.2 |
Accumulated benefit obligation | 8.5 |  |  | 8.4 |
Fair value of plan assets | 3.2 |  |  | 3.4 |
Schedule of Assumptions Used | The actuarial assumptions used in determining pension plan information are as follows:
| U.S. Plan |  | International Plans
| Year Ended December 31, |  | Year Ended December 31,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023
Assumptions used to determine the projected obligation at year end: |  |  |  |  |  |  |  |  |
Discount rate | 5.5 | % |  | 5.0 | % |  | 4.9 | % |  | 3.4 | % |  | 3.4 | %
Rate of increase in compensation levels for active pension plans | — | % |  | — | % |  | — | % |  | 3.9 | % |  | 4.1 | %
Assumptions used to determine net periodic benefit cost: |  |  |  |  |  |  |  |  |
Discount rate | 5.0 | % |  | 4.9 | % |  | 2.7 | % |  | 3.4 | % |  | 3.4 | %
Expected long-term weighted-average rate of return on plan assets | 6.0 | % |  | 7.0 | % |  | 7.0 | % |  | 4.2 | % |  | 4.5 | %
Rate of increase in compensation levels for active pension plans | — | % |  | — | % |  | — | % |  | 3.9 | % |  | 4.1 | %
Schedule of Target Allocation by Asset Category and Fair Value | The Chart Plan’s target allocations by asset category and fair values of the plan assets by asset class at December 31 are as follows:
|  |  | U.S. Plan
| Target Allocations by Asset Category |  | Fair Value
|  | Total |  | Level 2 |  | Level 3
Plan Assets: |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Equity funds | —% |  | $ | — |  |  | $ | 16.5 |  |  | $ | — |  |  | $ | 16.5 |  |  | $ | — |  |  | $ | — |
Fixed income funds | 71% |  | 43.1 |  |  | 34.0 |  |  | 43.1 |  |  | 34.0 |  |  | — |  |  | — |
Other investments | 29% |  | — |  |  | 3.5 |  |  | — |  |  | — |  |  | — |  |  | 3.5 |
Total |  |  | $ | 43.1 |  |  | $ | 54.0 |  |  | $ | 43.1 |  |  | $ | 50.5 |  |  | $ | — |  |  | $ | 3.5 |
The International Plans’ target allocations by asset category and fair values of the plan assets by asset class at December 31 are as follows:
|  |  | International Plans
| Target Allocations by Asset Category |  | Fair Value
|  | Total |  | Level 1 |  | Level 2
Plan Assets: |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Cash and cash equivalents | 0% |  | $ | — |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | — |
Insurance contracts | 7% |  | 2.9 |  |  | 2.9 |  |  | — |  |  | — |  |  | 2.9 |  |  | 2.9 |
Investments funds | 93% |  | 39.5 |  |  | 38.7 |  |  | — |  |  | — |  |  | 39.5 |  |  | 38.7 |
Total |  |  | $ | 42.4 |  |  | $ | 41.8 |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | 42.4 |  |  | $ | 41.6 |
Rollforward of Unobservable Inputs | The following table represents changes in the fair value of plan assets categorized as Level 3 from the preceding table:
| U.S. Plan
Balance at December 31, 2022 | $ | 1.1 |
Purchases, sales and settlements, net | (2.9) |
Transfers, net | 5.3 |
Balance at December 31, 2023 | 3.5 |
Purchases, sales and settlements, net | (3.5) |
Transfers, net | — |
Balance at December 31, 2024 | $ | — |
Schedule of Expected Benefit Payments | The following benefit payments are expected to be paid by the plan in each of the next five years and in the aggregate for the subsequent five years:
| U.S. Plan |  | International Plans
2025 | $ | 3.5 |  |  | $ | 2.3 |
2026 | 3.5 |  |  | 2.5 |
2027 | 3.5 |  |  | 2.2 |
2028 | 3.4 |  |  | 2.5 |
2029 | 3.4 |  |  | 2.6 |
In aggregate during five years thereafter | 15.6 |  |  | 11.4 |

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