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Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
The Company’s Board of Directors (the “Board”) has the authority to issue 90.0 million shares of common stock at a par value of $1 per share. The holders of common stock (i) may receive dividends subject to all of the rights of the holders of preference stock, (ii) shall be entitled to share ratably upon any liquidation of the Company in the assets of the Company, if any, remaining after payment in full to the holders of preference stock and (iii) receive one vote for each common share held and shall vote together share for share with the holders of voting shares of preference stock as one class for the election of directors and for all other purposes. The Company had 70.3 million and 70.0 million common shares issued as of December 31, 2024 and 2023, respectively. Of those amounts, 61.1 million and 61.0 million common shares were outstanding as of December 31, 2024 and 2023, respectively.
The Board is also authorized to provide for the issuance of 0.8 million shares of preference stock at a par value of $1 per share. The authority of the Board includes, but is not limited to, the determination of the dividend rate, voting rights, conversion, and redemption features and liquidation preferences. The Company has not designated or issued any preference stock as of December 31, 2024.
Dividends
The Company declared and paid dividends totaling $29.3 million in 2024, $23.8 million in 2023, and $21.8 million in 2022.
On February 21, 2025, the Board declared a quarterly cash dividend of $0.14 per common share payable on March 27, 2025 to stockholders of record at the close of business on March 14, 2025.
Stock Repurchase Program
In March 2020, the Board authorized a stock repurchase program of up to $75.0 million of the Company’s common stock, with the remaining authorization under our previously described repurchase program adopted in November 2014 being subject to the March 2020 program. As of December 31, 2024, the Company had remaining authorization under the share repurchase program of approximately $46.9 million.
The stock repurchase program is intended primarily to facilitate opportunistic purchases of Company stock as a means to provide cash returns to stockholders, enhance stockholder returns, and manage the Company’s capital structure. Under its stock repurchase program, the Company is authorized to repurchase, from time to time, shares of its outstanding common stock in the open market or through privately negotiated transactions. Stock repurchases by the Company are subject to market conditions and other factors and may be commenced, suspended, or discontinued at any time.
During the year ended December 31, 2024, the Company repurchased 80,100 shares for a total of $6.7 million under the stock repurchase program. During the year ended December 31, 2023, the Company repurchased 93,551 shares for a total of $5.5 million under the stock repurchase program. During the year ended December 31, 2022, the Company repurchased 472,381 shares for a total of $16.1 million under the stock repurchase program.
Accumulated Other Comprehensive Loss
The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax:
(in millions of dollars)Actuarial LossesPrior Service CostsForeign
Currency Translation		Interest Rate Swaps Total
Balance at January 1, 2024 (a)
$(69.7)$(2.0)$(10.1)$0.5 $(81.3)
Other comprehensive income (loss) before reclassifications2.2 0.1 (14.4)1.1 (11.0)
Amounts reclassified from accumulated other comprehensive loss5.0 0.1 — (1.8)3.3 
Net current-period other comprehensive income (loss)7.2 0.2 (14.4)(0.7)(7.7)
Balance at December 31, 2024 (a)
$(62.5)$(1.8)$(24.5)$(0.2)$(89.0)
(a) Amounts in parentheses indicate losses.
(in millions of dollars) (a)
Actuarial LossesPrior Service CostsForeign
Currency Translation		Interest Rate SwapsTotal
Balance at January 1, 2023 (a)
$(68.6)$(2.0)$(16.0)$2.6 $(84.0)
Other comprehensive (loss) income before reclassifications(2.8)(0.1)5.9 0.3 3.3 
Amounts reclassified from accumulated other comprehensive loss1.7 0.1 — (2.4)(0.6)
Net current-period other comprehensive (loss) income(1.1)— 5.9 (2.1)2.7 
Balance at December 31, 2023 (a)
$(69.7)$(2.0)$(10.1)$0.5 $(81.3)
(a)    Amounts in parentheses indicate losses.
The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, and the affected line item in the Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss ComponentsAmount Reclassified from Accumulated Other Comprehensive LossAffected Line Item in Consolidated Statements of Operations
For the Years Ended December 31,
20242023
(in millions of dollars) (a)
Amortization of actuarial losses of defined benefit pension plans$(3.0)$(2.3)Other expense (income), net
Amortization of prior service costs of defined benefit pension plans(0.1)(0.1)Other expense (income), net
Recognition of actuarial losses associated with pension settlement(3.8)— Pension settlement charges
Interest rate swaps2.4 3.2 Interest expense, net
Total before tax(4.5)0.8 
Income tax benefit (expense)1.2 (0.2)Income tax expense
Total reclassifications for the period, net of tax$(3.3)$0.6 
(a)    Amount in parentheses indicate expenses on the Consolidated Statements of Operations.