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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Earnings Before Income Taxes | Earnings before income taxes for the years ended December 31 were as follows:
| 2025 |  | 2024 |  | 2023
United States | $ | (228.6) |  |  | $ | 406.8 |  |  | $ | 407.6 |
International | (987.8) |  |  | 25.8 |  |  | 102.2 |
Total | $ | (1,216.4) |  |  | $ | 432.6 |  |  | $ | 509.8 |
Schedule of Provision for Income Taxes | The provision for income taxes for the years ended December 31 were as follows:
| 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |
Federal U.S. | $ | 33.3 |  |  | $ | 53.3 |  |  | $ | 67.4 |
Non-U.S. | 35.0 |  |  | 36.1 |  |  | 28.9 |
State and local | 4.9 |  |  | 11.7 |  |  | 11.8 |
Deferred: |  |  |  |  |
Federal U.S. | (19.4) |  |  | (3.4) |  |  | (10.7) |
Non-U.S. | (44.4) |  |  | (18.1) |  |  | (3.0) |
State and local | (3.3) |  |  | (1.6) |  |  | (1.4) |
Income tax provision | $ | 6.1 |  |  | $ | 78.0 |  |  | $ | 93.0 |
Schedule of Deferred Tax Assets and Liabilities | Deferred income tax assets and liabilities as of December 31 were as follows:
| 2025 |  | 2024
Deferred tax assets: |  |  |
Operating lease liabilities | $ | 18.8 |  |  | $ | 18.6 |
Interest | 17.9 |  |  | — |
Inventories | 14.0 |  |  | 13.4 |
Pension benefits | 6.4 |  |  | 8.0 |
Stock-based compensation expense | 12.3 |  |  | 11.2 |
Capitalized expenses | 40.7 |  |  | 98.5 |
Tax credit and loss carryforwards | 11.5 |  |  | 55.3 |
Accruals, prepayments, and other | 15.8 |  |  | 14.5 |
Deferred income | 31.5 |  |  | 13.1 |
Valuation allowances | (24.2) |  |  | (55.1) |
Total deferred tax assets | 144.7 |  |  | 177.5 |
Deferred tax liabilities: |  |  |
Property, plant and equipment | (18.1) |  |  | (14.0) |
Operating lease right-of-use assets | (17.5) |  |  | (18.8) |
Insurance, including self-insurance | (70.6) |  |  | (91.0) |
Goodwill, other intangibles, and other | (215.3) |  |  | (273.1) |
Total deferred tax liabilities | (321.5) |  |  | (396.9) |
Net deferred tax assets/(liabilities) | $ | (176.8) |  |  | $ | (219.4) |
Reported As: |  |  |
Deferred tax assets | $ | 15.1 |  |  | $ | 11.9 |
Deferred tax liabilities | (191.9) |  |  | (231.3) |
Net deferred tax assets/(liabilities) | $ | (176.8) |  |  | $ | (219.4) |
Schedule of Effective Income Tax Rate Reconciliation | The effective income tax rate for the years ended December 31 varies from the U.S. statutory federal income tax rate as follows:
| 2025
| Amount |  | Percent
US federal statutory tax rate | $ | (255.4) |  |  | 21.0 | %
State and local income taxes, net of federal income tax effect(a) | 1.3 |  |  | (0.1) | %
Effect of changes in tax laws or rates enacted in the current period | — |  |  | — | %
Effect of cross-border tax laws |  |  |
Foreign-derived intangible income | (16.9) |  |  | 1.4 | %
Other | 6.5 |  |  | (0.5) | %
Tax credits | (6.9) |  |  | 0.6 | %
Changes in valuation allowances | — |  |  | — | %
Nontaxable or nondeductible items |  |  |
Goodwill impairment | 74.5 |  |  | (6.1) | %
Other | 2.4 |  |  | (0.2) | %
Changes in unrecognized tax benefits | 7.2 |  |  | (0.6) | %
Other adjustments | (1.6) |  |  | 0.1 | %
Foreign tax effects |  |  |
Germany |  |  |
Statutory tax rate difference between Germany and United States | 68.2 |  |  | (5.6) | %
Trade and local income taxes | (193.5) |  |  | 15.9 | %
Goodwill impairment | 325.2 |  |  | (26.7) | %
Changes in valuation allowances | 16.8 |  |  | (1.4) | %
Other | (8.7) |  |  | 0.7 | %
Other foreign jurisdictions | (13.0) |  |  | 1.0 | %
Effective income tax rate | $ | 6.1 |  |  | (0.5) | %
(a) California, Maryland, Massachusetts, Oregon, and Illinois made up the majority (greater than 50 percent) of the tax effect in this category.
| 2024 |  | 2023
Statutory federal income tax rate | 21.0 | % |  | 21.0 | %
Increase (decrease) in tax rate resulting from: |  |  |
State income taxes (net of federal income tax benefit) | 1.8 | % |  | 1.6 | %
Foreign income taxed at different rates than U.S. statutory rate | (4.7) | % |  | 0.2 | %
U.S. federal permanent differences related to the TCJA | (6.3) | % |  | (6.0) | %
Effect of change in tax rates enacted in the current period | — | % |  | (1.7) | %
Changes in valuation allowances | 7.4 | % |  | 2.7 | %
Other | (1.2) | % |  | 0.4 | %
Effective income tax rate | 18.0 | % |  | 18.2 | %
Schedule of Income Taxes Payments, Net of Refunds | The cash payments, net of refunds, for the year ended December 31, 2025 was as follows:
Federal taxes | $ | 8.5 |  |  |  |  |
State taxes | 6.4 |  |  |  |  |
Foreign taxes: |  |  |  |  |
Hong Kong | 15.9 |  |  |  |  |
China | 10.5 |  |  |  |  |
Cayman Islands | 9.6 |  |  |  |  |
Canada | 8.9 |  |  |  |  |
Germany | 7.1 |  |  |  |  |
Other foreign jurisdictions | 7.3 |  |  |  |  |
Total cash taxes paid | $ | 74.2 |  |  |  |  |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding amounts accrued for potential interest and penalties, is as follows:
| 2025 |  | 2024 |  | 2023
Unrecognized tax benefits, beginning of year | $ | 12.6 |  |  | $ | 16.4 |  |  | $ | 16.3 |
Additions based on tax positions related to the current year | 6.7 |  |  | 0.6 |  |  | 0.9 |
Additions for tax positions of prior years | 4.3 |  |  | — |  |  | — |
Reductions for tax positions of prior years | (0.6) |  |  | (6.9) |  |  | (0.8) |
Effect of foreign currency translation | 0.9 |  |  | — |  |  | — |
Acquisition-related adjustments | — |  |  | 2.5 |  |  | — |
Unrecognized tax benefits, end of year | $ | 23.9 |  |  | $ | 12.6 |  |  | $ | 16.4 |

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