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Pension and Other Post-Employment Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Periodic Pension Expense (Benefit)
The following table summarizes net periodic pension (benefit) expense for the U.S. and non-U.S. benefit plans:
 U.S. Benefit PlanNon-U.S. Benefit Plan
For the Years Ended December 31,For the Years Ended December 31,
(in millions of dollars)202320222021202320222021
Company-sponsored plans:
Service cost$— $— $— $0.1 $0.1 $0.2 
Interest cost6.1 4.4 4.9 1.5 0.9 0.7 
Expected return on plan assets(7.5)(6.9)(9.6)(2.1)(2.0)(2.0)
Amortization of prior service costs— — — 0.1 0.1 0.2 
Amortization of actuarial losses1.3 2.3 3.9 1.0 0.6 0.8 
Settlement charges— — 10.3 — — — 
Net periodic pension (benefit) expense$(0.1)$(0.2)$9.5 $0.6 $(0.3)$(0.1)
Weighted-Average Actuarial Assumptions Used to Determine Benefit Obligations And Expense
The following table summarizes the weighted-average assumptions used in determining pension costs:
 U.S. Benefit PlanNon-U.S. Benefit Plan
For the Years Ended December 31,For the Years Ended December 31,
 202320222021202320222021
Discount rate5.7 %3.1 %2.8 %4.8 %1.8 %1.3 %
Expected long-term rate of return on plan assets7.2 %6.1 %7.4 %6.1 %4.0 %3.5 %
The following table summarizes the weighted-average assumptions used in determining benefit obligations:
 U.S. Benefit PlanNon-U.S. Benefit Plan
 2023202220232022
Discount rate5.4 %5.7 %4.5 %4.8 %
Summary of Changes in Projected Benefit Obligation
The following table summarizes the changes in the projected benefit obligation and plan assets:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions of dollars)2023202220232022
Benefit obligation, beginning of year$109.0 $142.0 $32.4 $52.8 
Service cost— — 0.1 0.1 
Interest cost6.1 4.4 1.5 0.9 
Actuarial loss (gain)4.5 (29.0)0.3 (13.4)
Benefits and expenses paid(8.1)(8.4)(2.5)(2.6)
Foreign currency translation— — 1.7 (5.4)
Benefit obligation, end of year$111.5 $109.0 $33.5 $32.4 
Accumulated benefit obligation, end of year$111.5 $109.0 $33.5 $32.4 
Summary of Change in Plan Assets
The following summarizes the changes in the fair value of plan assets:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions of dollars)2023202220232022
Fair value of plan assets, beginning of year$87.0 $120.2 $34.8 $56.5 
Actual return (loss) on plan assets (a)
8.2 (24.8)3.5 (14.2)
Company contribution1.4 — 0.9 0.9 
Benefits and expenses paid(8.1)(8.4)(2.5)(2.6)
Foreign currency translation— — 1.9 (5.8)
Fair value of plan assets, end of year$88.5 $87.0 $38.6 $34.8 
(a)    Actual return (loss) on plan assets of the U.S. benefit plan for the years ended December 31, 2023 and 2022, was net of fees, commissions and other expenses paid from plan assets of $1.4 million and $1.5 million, respectively.
Summary of Pension Assets in Three-Tier Fair Value Hierarchy for Benefit Plan
The following summarizes the Company’s pension assets in a three-tier fair value hierarchy for its benefit plans:
 U. S. Benefit Plan
 20232022
(in millions of dollars)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$1.6 $— $— $1.6 $4.1 $— $— $4.1 
Equity investments:
U.S. Large Cap12.0 0.1 — 12.1 10.8 0.1 — 10.9 
U.S. Small and Mid Cap13.4 — — 13.4 13.6 — — 13.6 
Developed international5.2 0.3 — 5.5 4.8 0.7 — 5.5 
Emerging markets2.3 0.7 — 3.0 2.0 0.9 — 2.9 
Fixed income investments:
Government securities1.7 — — 1.7 2.9 — — 2.9 
Asset-backed securities— 0.2 — 0.2 — 0.2 — 0.2 
Corporate bonds— 50.2 — 50.2 — 46.4 — 46.4 
Total assets at fair value (a)
$36.2 $51.5 $— $87.7 $38.2 $48.3 $— $86.5 
(a)     Total assets at fair value in the table above exclude a net receivable of $0.8 million and $0.5 million at December 31, 2023 and 2022, respectively.
 Non-U. S. Benefit Plan
 20232022
(in millions of dollars)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$0.8 $7.7 $— $8.5 $0.9 $6.5 $— $7.4 
Diversified investment funds (a)
— 18.9 — 18.9 — 15.3 — 15.3 
Fixed income investments:
Asset-backed securities— 4.4 — 4.4 — 4.0 — 4.0 
Corporate bonds— 3.7 — 3.7 — 4.1 — 4.1 
Other investments:
Insurance-linked securities— — 3.1 3.1 — — 4.0 4.0 
Total assets at fair value$0.8 $34.7 $3.1 $38.6 $0.9 $29.9 $4.0 $34.8 
(a)     These funds primarily invest in a diversified portfolio of equity securities and fixed income securities.
Summary of Funded Status
The following summarizes the funded status of the Company’s benefit plans:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions of dollars)2023202220232022
Fair value of plan assets, end of year$88.5 $87.0 $38.6 $34.8 
Benefit obligation, end of year111.5 109.0 33.5 32.4 
Funded status, end of year$(23.0)$(22.0)$5.1 $2.4 
Schedule of Amounts Recognized In Consolidated Balance Sheet
The following summarizes the amounts recognized within the Company’s Consolidated Balance Sheets:
 U.S. Benefit PlanNon-U.S. Benefit Plan
(in millions of dollars)2023202220232022
Amounts recognized in our Consolidated Balance Sheets include:
Deferred charges and other long-term assets$— $— $5.1 $2.4 
Long-term pension and other post-retirement benefit liabilities(23.0)(22.0)— — 
Net (liability) asset recorded$(23.0)$(22.0)$5.1 $2.4 
Amounts recognized in Accumulated other comprehensive loss include:
Actuarial losses$60.7 $58.1 $16.1 $17.3 
Prior service costs— — 2.0 2.0 
Net amount recognized, pre-tax$60.7 $58.1 $18.1 $19.3 
Schedule of Expected Benefit Payments
The following summarizes the benefits expected to be paid under the Company’s benefit plans in each of the next five years, and in aggregate for the five years thereafter:
(in millions of dollars)U.S. Benefit PlanNon-U.S. Benefit Plan
2024$8.4 $2.5 
20258.7 2.6 
20268.7 2.5 
20278.9 2.5 
20288.8 2.5 
2029-203342.9 11.4