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Capital Stock, Accumulated Other Comprehensive Loss and Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Schedule of Share Repurchases | Share repurchases are shown below (in millions, except for shares and per share amounts):
For the year ended December 31, | Aggregate Repurchases (1) |  | Cash paid for Repurchases (1), (2) |  | Number of Shares |  | Average Price per Share (1)
2024 | $ | 400.1 |  |  | $ | 416.7 |  |  | 3,578,167 |  | $ | 111.81 |
2023 | $ | 313.1 |  |  | $ | 296.5 |  |  | 2,281,723 |  |  | $ | 137.21 |
2022 | $ | 100.3 |  |  | $ | 100.3 |  |  | 763,309 |  |  | $ | 131.37 |
(1) Excludes excise tax and commissions (2) Includes $16.6 million of 2023 share repurchases paid for in the first quarter of 2024
Dividends Declared and Paid | Dividends declared and paid are shown below (in millions):
For the year ended December 31, | 2024 |  | 2023 |  | 2022
Dividends declared | $ | 174.7 |  |  | $ | 184.5 |  |  | $ | 186.2 |
Dividends paid | $ | 173.7 |  |  | $ | 181.9 |  |  | $ | 185.5 |
Summary of Changes in Accumulated Other Comprehensive Loss, Net of Tax | A summary of changes in accumulated other comprehensive loss, net of tax, is shown below (in millions):
For the year ended December 31, | 2024 |  | 2023 |  | 2022
Defined benefit plans: |  |  |  |  |
Balance at beginning of year | $ | (107.3) |  |  | $ | (95.7) |  |  | $ | (199.4) |
Reclassification adjustments (net of tax benefit (expense) of ($1.5) million in 2024, $0.2 million in 2023 and ($1.0) million in 2022) | 4.4 |  |  | (1.0) |  |  | 4.0 |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of ($3.0) million in 2024, $2.0 million in 2023 and ($23.9) million in 2022) | 11.8 |  |  | (10.6) |  |  | 99.7 |
Balance at end of year | $ | (91.1) |  |  | $ | (107.3) |  |  | $ | (95.7) |
Derivative instruments and hedge activities: |  |  |  |  |
Balance at beginning of year | $ | 107.9 |  |  | $ | 33.4 |  |  | $ | (18.6) |
Reclassification adjustments (net of tax benefit of $20.0 million in 2024, $35.1 million in 2023 and $8.5 million in 2022) | (77.2) |  |  | (141.3) |  |  | (35.3) |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $41.1 million in 2024, ($51.0) million in 2023 and ($19.1) million in 2022) | (164.4) |  |  | 215.8 |  |  | 87.3 |
Balance at end of year | $ | (133.7) |  |  | $ | 107.9 |  |  | $ | 33.4 |
Currency translation adjustments: |  |  |  |  |
Balance at beginning of year | $ | (689.4) |  |  | $ | (742.8) |  |  | $ | (552.2) |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of ($1.7) million in 2024, $1.2 million in 2023 and ($4.7) million in 2022) | (219.5) |  |  | 53.4 |  |  | (190.6) |
Balance at end of year | $ | (908.9) |  |  | $ | (689.4) |  |  | $ | (742.8) |

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