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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income from continuing operations before income taxes consists of the following:

			For the Year Ended December 31,
			2024						2023						2022
United States			$	75.5					$	(100.9)					$	31.1
Foreign			243.0						158.9						67.8
Income from continuing operations before income taxes			$	318.5					$	58.0					$	98.9

Schedule of Components of Income Tax Expense (Benefit)

Significant components of income tax expense (benefit), net are as follows:

			For the Year Ended December 31,
			2024						2023						2022
Current:
Federal			$	27.4					$	(15.5)					$	(1.3)
State and local			7.6						6.6						3.5
Foreign			69.7						91.2						15.4
Total current			104.7						82.3						17.6
Deferred:
Federal			(21.4)						1.5						(5.6)
State and local			0.7						(1.8)						1.9
Foreign			(5.4)						(79.0)						2.0
Total deferred			(26.1)						(79.3)						(1.7)
Total income tax expense, net			$	78.6					$	3.0					$	15.9

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income taxes computed at the U.S. federal statutory tax rate to income tax expense is as follows:

			Year Ended December 31,
			2024						2023						2022
Income tax expense at U.S. statutory rate			$	66.8					$	12.2					$	20.8
State income taxes, net of federal tax benefit			6.8						3.1						1.5
Foreign withholding taxes			2.4						6.3						0.2
U.S. taxation of international operations			(6.1)						18.7						1.4
Effective tax rate differential of earnings outside of United States			10.7						2.8						1.7
Change in valuation allowance			3.0						(2.0)						(11.6)
Research & experimentation			(2.2)						(2.0)						(2.9)
Provision to return			(8.4)						0.8						5.0
Non-deductible items			(0.8)						0.1						0.4
Change in uncertain tax positions			3.7						2.0						(0.3)
Share-based compensation			2.1						0.1						(1.1)
Capital loss			—						(40.5)						—
Unremitted earnings not permanently reinvested			0.5						0.9						—
Other items			0.1						0.5						0.8
Income tax expense			$	78.6					$	3.0					$	15.9

Schedule of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:

			December 31,
			2024						2023
Deferred tax assets (“DTA”):
Accruals and reserves			$	13.4					$	48.7
Inventory			166.8						127.0
R&D Amortization			22.3						18.1
Interest limitation carryover			172.3						126.8
Net operating loss carryforwards			35.5						40.2
Property, plant and equipment – net DTA			6.8						4.4
Other – net DTA			11.5						9.6
Total deferred tax assets before valuation allowance			428.6						374.8
Valuation allowances			(98.6)						(90.3)
Total deferred tax assets, net of valuation allowances			$	330.0					$	284.5
Deferred tax liabilities (“DTL”):
Property, plant and equipment – net DTL			$	54.5					$	58.6
Goodwill and intangible assets			587.4						629.0
Pensions			6.2						6.4
Unremitted earnings (APB23)			20.2						19.7
Other – net DTL			9.3						2.9
Deferred revenue			167.4						123.5
Total deferred tax liabilities			$	845.0					$	840.1
Net deferred tax liabilities			$	515.0					$	555.6
The net deferred tax liability is classified as follows:
Other assets			$	(29.9)					$	(12.6)
Long-term deferred tax liabilities			544.9						568.2
Net deferred tax liabilities			$	515.0					$	555.6

Schedule of Reconciliation of Unrecognized Tax Benefits

The reconciliation of beginning to ending gross unrecognized tax benefits is as follows:

			Year Ended December 31,
			2024						2023						2022
Unrecognized tax benefits at beginning of the year			$	37.0					$	0.7					$	1.7
Additions for tax positions acquired during the current period			—						34.4						—
Additions for tax positions taken during the prior period			14.1						3.7						—
Reductions for tax positions taken during the current period			(0.1)						—						—
Reductions relating to settlements with taxing authorities			(0.6)						(1.6)						(0.3)
Lapse of statutes of limitation			(0.1)						(0.2)						(0.7)
Unrecognized tax benefits at end of the year			$	50.3					$	37.0					$	0.7

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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.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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