v3.25.4

Financing and Trade Receivables (Tables) | 12 Months Ended
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Dec. 31, 2025
Credit Loss [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | The components of financing receivables with payments due in less than twelve months that are presented in Accounts receivable, less allowance for credit losses on the Consolidated Balance Sheets were as follows:
($ in millions) | December 31, 2025 |  | December 31, 2024
Gross current financing receivables: |  |  |
PSAs | $ | 97.6 |  |  | $ | 98.6 |
Franchisee Notes | 31.5 |  |  | 25.4 |
Current financing receivables, gross | $ | 129.1 |  |  | $ | 124.0 |
Allowance for credit losses: |  |  |
PSAs | $ | 10.5 |  |  | $ | 11.0 |
Franchisee Notes | 9.0 |  |  | 8.0 |
Total allowance for credit losses | $ | 19.5 |  |  | $ | 19.0 |
Net current financing receivables: |  |  |
PSAs, net | $ | 87.1 |  |  | $ | 87.6 |
Franchisee Notes, net | 22.5 |  |  | 17.4 |
Total current financing receivables, net | $ | 109.6 |  |  | $ | 105.0 |
The components of Long-term financing receivables, less allowance for credit losses, which consists of financing receivables with payments due beyond one year, were as follows:
($ in millions) | December 31, 2025 |  | December 31, 2024
Gross long-term financing receivables: |  |  |
PSAs | $ | 241.3 |  |  | $ | 253.6 |
Franchisee Notes | 60.9 |  |  | 62.8 |
Long-term financing receivables, gross | $ | 302.2 |  |  | $ | 316.4 |
Allowance for credit losses: |  |  |
PSAs | $ | 26.6 |  |  | $ | 27.2 |
Franchisee Notes | 5.1 |  |  | 5.0 |
Total allowance for credit losses | $ | 31.7 |  |  | $ | 32.2 |
Net long-term financing receivables: |  |  |
PSAs, net | $ | 214.7 |  |  | $ | 226.4 |
Franchisee Notes, net | 55.8 |  |  | 57.8 |
Total long-term financing receivables, net | $ | 270.5 |  |  | $ | 284.2 |
Schedule of Amortized Cost by Origination Year | The amortized cost basis and current period gross write-offs of PSAs and Franchisee Notes by origination year as of and for the year ended December 31, 2025 is as follows:
($ in millions) | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Total
PSAs |  |  |  |  |  |  |  |  |  |  |  |  |
Credit Score: |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 400 | $ | 7.2 |  |  | $ | 4.3 |  |  | $ | 3.5 |  |  | $ | 1.4 |  |  | $ | 0.6 |  |  | $ | 0.1 |  |  | $ | 17.1 |
400-599 | 22.4 |  |  | 15.8 |  |  | 7.4 |  |  | 3.0 |  |  | 1.0 |  |  | 0.2 |  |  | 49.8 |
600-799 | 49.5 |  |  | 31.5 |  |  | 16.7 |  |  | 6.3 |  |  | 2.1 |  |  | 0.4 |  |  | 106.5 |
800+ | 81.7 |  |  | 47.2 |  |  | 24.7 |  |  | 9.3 |  |  | 2.2 |  |  | 0.4 |  |  | 165.5 |
Total PSAs | $ | 160.8 |  |  | $ | 98.8 |  |  | $ | 52.3 |  |  | $ | 20.0 |  |  | $ | 5.9 |  |  | $ | 1.1 |  |  | $ | 338.9 |
Franchisee Notes |  |  |  |  |  |  |  |  |  |  |  |  |
Active distributors | $ | 24.6 |  |  | $ | 19.1 |  |  | $ | 9.6 |  |  | $ | 6.1 |  |  | $ | 4.3 |  |  | $ | 4.4 |  |  | $ | 68.1 |
Separated distributors | 0.3 |  |  | 2.3 |  |  | 5.6 |  |  | 5.4 |  |  | 3.8 |  |  | 6.9 |  |  | 24.3 |
Total Franchisee Notes | $ | 24.9 |  |  | $ | 21.4 |  |  | $ | 15.2 |  |  | $ | 11.5 |  |  | $ | 8.1 |  |  | $ | 11.3 |  |  | $ | 92.4 |
Current Period Gross Write-offs |  |  |  |  |  |  |  |  |  |  |  |  |
PSAs | $ | 1.8 |  |  | $ | 17.6 |  |  | $ | 14.2 |  |  | $ | 6.2 |  |  | $ | 2.8 |  |  | $ | 1.4 |  |  | $ | 44.0 |
Franchisee Notes | — |  |  | 0.3 |  |  | 1.2 |  |  | 1.6 |  |  | 1.4 |  |  | 2.6 |  |  | 7.1 |
Total current period gross write-offs | $ | 1.8 |  |  | $ | 17.9 |  |  | $ | 15.4 |  |  | $ | 7.8 |  |  | $ | 4.2 |  |  | $ | 4.0 |  |  | $ | 51.1 |
Schedule of Financing Receivable Past Due | The table below sets forth the aging of the Company’s PSA balances as of:
($ in millions) |  | 30-59 days past due |  | 60-90 days past due |  | Greater than 90 days past due |  | Total past due |  | Total not considered past due |  | Total |  | Greater than 90 days past due and accruing interest
December 31, 2025 |  | $ | 3.6 |  |  | $ | 2.0 |  |  | $ | 7.7 |  |  | $ | 13.3 |  |  | $ | 325.6 |  |  | $ | 338.9 |  |  | $ | 7.7 |
December 31, 2024 |  | 3.7 |  |  | 1.9 |  |  | 7.9 |  |  | 13.5 |  |  | 338.7 |  |  | 352.2 |  |  | 7.9 |
Schedule of Allowance for Credit Losses Related to Financing Receivables | The following is a rollforward of the PSAs and Franchisee Notes components of the Company’s allowance for credit losses related to financing receivables as of December 31:
| 2025 |  | 2024
($ in millions) | PSAs |  | Franchisee Notes |  | Total |  | PSAs |  | Franchisee Notes |  | Total
Allowance for credit losses, beginning of year | $ | 38.2 |  |  | $ | 13.0 |  |  | $ | 51.2 |  |  | $ | 41.5 |  |  | $ | 12.3 |  |  | $ | 53.8 |
Provision for credit losses | 41.0 |  |  | 7.9 |  |  | 48.9 |  |  | 37.8 |  |  | 7.8 |  |  | 45.6 |
Write-offs | (44.0) |  |  | (7.1) |  |  | (51.1) |  |  | (42.9) |  |  | (7.2) |  |  | (50.1) |
Recoveries of amounts previously charged off | 1.9 |  |  | 0.3 |  |  | 2.2 |  |  | 1.8 |  |  | 0.1 |  |  | 1.9 |
Allowance for credit losses, end of year | $ | 37.1 |  |  | $ | 14.1 |  |  | $ | 51.2 |  |  | $ | 38.2 |  |  | $ | 13.0 |  |  | $ | 51.2 |
Schedule of Allowance for Credit Losses Related to Trade Accounts Receivables | The following is a rollforward of the allowance for credit losses related to the Company’s trade accounts receivables, excluding financing receivables, and the Company’s trade accounts receivable cost basis as of December 31:
($ in millions) | 2025 |  | 2024 |  |
Cost basis of trade accounts receivable | $ | 426.3 |  |  | $ | 430.1 |  |  |
Allowance for credit losses balance, beginning of year | 15.9 |  |  | 15.6 |  |  |
Provision for credit losses | 3.5 |  |  | 5.6 |  |  |
Write-offs | (5.8) |  |  | (4.5) |  |  |
Foreign currency and other | 0.5 |  |  | (0.8) |  |  |
Allowance for credit losses balance, end of year | 14.1 |  |  | 15.9 |  |  |
Net trade accounts receivable balance | $ | 412.2 |  |  | $ | 414.2 |  |  |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
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- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-14 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 80 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479294/326-20-55-80 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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