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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Stockholders' Equity | STOCKHOLDERS’ EQUITY Dividends On February 21, 2025, the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.14 per common share. The dividend totaled $8.6 million and was distributed on March 27, 2025 to stockholders of record at the close of business on March 14, 2025. On April 22, 2025, the Board declared a quarterly cash dividend of $0.14 per common share. The dividend totaled $8.5 million and was distributed on May 30, 2025 to stockholders of record at the close of business on May 16, 2025. On July 21, 2025, the Board declared a quarterly cash dividend of $0.14 per common share. The dividend totaled $8.5 million and was distributed on August 28, 2025 to stockholders of record at the close of business on August 15, 2025. On October 27, 2025, the Board declared a quarterly cash dividend of $0.14 per common share payable on December 2, 2025 to stockholders of record at the close of business on November 14, 2025. The Company paid dividends to stockholders of $7.3 million during the three months ended September 30, 2024 and $22.0 million during the nine months ended September 30, 2024. Stock Repurchase Program In March 2020, the Board authorized a stock repurchase program (the “March 2020 program”) of up to $75 million of the Company’s common stock. In April 2025, the Board authorized an additional stock repurchase program (the “April 2025 program”) of up to $150 million of the Company’s common stock. The April 2025 program supplements the Board’s prior authorization under the March 2020 program, which remains in effect. No shares were repurchased under the Company’s stock repurchase programs during the three months ended September 30, 2025. During the nine months ended September 30, 2025, the Company repurchased 531,497 shares for a total of $39.7 million under its stock repurchase programs. The stock repurchase programs are intended primarily to facilitate 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 programs, the Company is authorized to repurchase, from time to time, shares of its outstanding common stock. Stock repurchases by the Company are subject to market conditions and other factors and may be commenced, suspended, or discontinued at any time. At the end of the third quarter of 2025, the Company had remaining authorization under its stock repurchase programs of approximately $157 million. During the three months ended September 30, 2024, the Company repurchased 52,500 shares for a total of $4.4 million under the March 2020 program. During the nine months ended September 30, 2024, the Company repurchased 54,100 shares for a total of $4.5 million under the March 2020 program. Accumulated Other Comprehensive Loss The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the three months ended September 30, 2025 and 2024:
(in millions) | Actuarial Losses |  | Prior Service Costs |  | Foreign Currency Translation |  | Interest Rate Swaps |  | Total
Balance at July 1, 2025 (a) | $ | (62.3) |  |  | $ | (1.9) |  |  | $ | (7.3) |  |  | $ | — |  |  | $ | (71.5) |
Other comprehensive income (loss) before reclassifications | 0.1 |  |  | 0.1 |  |  | (4.0) |  |  | — |  |  | (3.8) |
Amounts reclassified from accumulated other comprehensive loss | 0.5 |  |  | — |  |  | — |  |  | — |  |  | 0.5 |
Net current-period other comprehensive income (loss) | 0.6 |  |  | 0.1 |  |  | (4.0) |  |  | — |  |  | (3.3) |
Balance at September 30, 2025 (a) | $ | (61.7) |  |  | $ | (1.8) |  |  | $ | (11.3) |  |  | $ | — |  |  | $ | (74.8) |
(in millions) | Actuarial Losses |  | Prior Service Costs |  | Foreign Currency Translation |  | Interest Rate Swaps |  | Total
Balance at July 1, 2024 (a) | $ | (68.8) |  |  | $ | (1.9) |  |  | $ | (15.4) |  |  | $ | 0.7 |  |  | $ | (85.4) |
Other comprehensive (loss) income before reclassifications | (0.8) |  |  | — |  |  | 5.6 |  |  | (1.1) |  |  | 3.7 |
Amounts reclassified from accumulated other comprehensive loss | 0.6 |  |  | — |  |  | — |  |  | (0.4) |  |  | 0.2 |
Net current-period other comprehensive (loss) income | (0.2) |  |  | — |  |  | 5.6 |  |  | (1.5) |  |  | 3.9 |
Balance at September 30, 2024 (a) | $ | (69.0) |  |  | $ | (1.9) |  |  | $ | (9.8) |  |  | $ | (0.8) |  |  | $ | (81.5) |
(a) Amounts in parentheses indicate losses. The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the nine months ended September 30, 2025 and 2024:
(in millions) | Actuarial Losses |  | Prior Service Costs |  | Foreign Currency Translation |  | Interest Rate Swaps |  | Total
Balance at January 1, 2025 (a) | $ | (62.5) |  |  | $ | (1.8) |  |  | $ | (24.5) |  |  | $ | (0.2) |  |  | $ | (89.0) |
Other comprehensive (loss) income before reclassifications | (0.8) |  |  | (0.1) |  |  | 13.2 |  |  | 0.1 |  |  | 12.4 |
Amounts reclassified from accumulated other comprehensive loss | 1.6 |  |  | 0.1 |  |  | — |  |  | 0.1 |  |  | 1.8 |
Net current-period other comprehensive income | 0.8 |  |  | — |  |  | 13.2 |  |  | 0.2 |  |  | 14.2 |
Balance at September 30, 2025 (a) | $ | (61.7) |  |  | $ | (1.8) |  |  | $ | (11.3) |  |  | $ | — |  |  | $ | (74.8) |
(in millions) | Actuarial Losses |  | Prior Service Costs |  | Foreign Currency Translation |  | Interest Rate Swaps |  | Total
Balance at January 1, 2024 (a) | $ | (69.7) |  |  | $ | (2.0) |  |  | $ | (10.1) |  |  | $ | 0.5 |  |  | $ | (81.3) |
Other comprehensive (loss) income before reclassifications | (0.9) |  |  | — |  |  | 0.3 |  |  | 0.5 |  |  | (0.1) |
Amounts reclassified from accumulated other comprehensive loss | 1.6 |  |  | 0.1 |  |  | — |  |  | (1.8) |  |  | (0.1) |
Net current-period other comprehensive income (loss) | 0.7 |  |  | 0.1 |  |  | 0.3 |  |  | (1.3) |  |  | (0.2) |
Balance at September 30, 2024 (a) | $ | (69.0) |  |  | $ | (1.9) |  |  | $ | (9.8) |  |  | $ | (0.8) |  |  | $ | (81.5) |
(a) Amounts in parentheses indicate losses. The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the three months ended September 30, 2025 and 2024 and the affected line item in the Condensed Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss Components |  | Amount Reclassified from Accumulated Other Comprehensive Loss |  | Affected Line Item in Condensed Consolidated Statements of Operations
| 2025 |  | 2024 |
(in millions) (a) |  |  |  |  |  |
Amortization of actuarial losses of defined benefit pension plans |  | $ | (0.7) |  |  | $ | (0.8) |  |  | Other expense, net
Interest rate swaps |  | — |  |  | 0.6 |  |  | Interest expense, net
Total before tax |  | (0.7) |  |  | (0.2) |  |  |
Income tax benefit |  | 0.2 |  |  | — |  |  | Income tax expense
Total reclassifications for the period, net of tax |  | $ | (0.5) |  |  | $ | (0.2) |  |  |
(a) Amounts in parentheses indicate losses. The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the nine months ended September 30, 2025 and 2024 and the affected line item in the Condensed Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss Components |  | Amount Reclassified from Accumulated Other Comprehensive Loss |  | Affected Line Item in Condensed Consolidated Statements of Operations
| 2025 |  | 2024 |
(in millions) (a) |  |  |  |  |  |
Amortization of actuarial losses of defined benefit pension plans |  | $ | (2.2) |  |  | $ | (2.2) |  |  | Other expense, net
Amortization of prior service costs of defined benefit pension plans |  | (0.1) |  |  | (0.1) |  |  | Other expense, net
Interest rate swaps |  | (0.1) |  |  | 2.4 |  |  | Interest expense, net
Total before tax |  | (2.4) |  |  | 0.1 |  |  |
Income tax benefit |  | 0.6 |  |  | — |  |  | Income tax expense
Total reclassifications for the period, net of tax |  | $ | (1.8) |  |  | $ | 0.1 |  |  |
(a) Amounts in parentheses indicate losses.

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