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INCOME TAXES (Tables)

12 Months Ended

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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