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Pension (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Change in Projected Benefit Obligations

The following table sets forth the changes in projected benefit obligations and plan assets of our defined benefit pension and other non-qualified and postretirement plans as of and for the years ended December 31, 2023 and 2022.

			2023						2022
			(in millions)
Change in Projected Benefit Obligations
Projected benefit obligations at beginning of year			$	247.6					$	335.7
Service cost			0.7						1.2
Interest cost			13.6						9.8
Actuarial loss (gain)			12.9						(77.6)
Benefits paid			(16.3)						(15.9)
Curtailments			(0.3)						(1.0)
Plan combination (acquisitions/divestitures)			—						(3.9)
Other			0.5						(0.7)
Projected benefit obligations at end of year			258.7						247.6

Schedule of Change in Plan Assets

Change in Plan Assets			2023						2022
			(in millions)
Fair value of plan assets at beginning of year			253.3						351.4
Actual return on plan assets			24.1						(81.5)
Benefits paid			(16.3)						(15.9)
Settlements			(0.3)						—
Company contributions			5.9						0.2
Plan combination (acquisitions/divestitures)			—						(0.8)
Other			—						(0.1)
Fair value of plan assets at end of year			266.7						253.3

Schedule of Change in Plan Assets Underfunded Status at End of Year

Funded Status at End of Year $ 8.0  $ 5.7 

Schedule Of Projected Benefit Obligations Amounts Recognized In Consolidated Balance Sheets

			2023						2022
			(in millions)
Amounts Recognized in the Consolidated Balance Sheets
Long-term assets			$	15.6					$	11.7
Current liabilities			(0.6)						(0.5)
Long-term liabilities			(7.0)						(5.5)
			$	8.0					$	5.7

Schedule of Pre Tax Charges Recognized in Accumulated Other Comprehensive Loss

Pre-tax charges recognized in accumulated other comprehensive loss as of December 31, 2023 and 2022 consist of:

			2023						2022
			(in millions)
Net actuarial loss			$	60.7					$	59.6
Prior service cost			0.2						0.6
			$	60.9					$	60.2

Schedule Of Net Periodic Benefit Cost

The following table sets forth the components of net periodic benefit cost and other changes in plan assets and benefit obligations recognized in other comprehensive income for our defined benefit pension plans for the years ended December 31, 2023, 2022 and 2021.

			Year Ended December 31,
			2023						2022						2021
			(in millions)
Net Periodic Benefit Cost
Service cost			$	0.7					$	1.2					$	1.5
Interest cost			13.6						9.8						9.0
Expected return on plan assets			(13.8)						(13.3)						(18.3)
Amortization of prior service cost			(0.1)						0.2						0.1
Amortization of net loss			1.5						0.5						0.7
Curtailments			0.3						(1.0)						—
Net periodic benefit cost (income)			$	2.2					$	(2.6)					$	(7.0)

Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss

			Year Ended December 31,
			2023						2022						2021
			(in millions)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss
Net loss (gain)			$	2.4					$	17.2					$	(4.7)
Prior service cost			—						—						0.4
Amortization of net loss			(1.5)						(0.5)						(0.7)
Amortization of prior service cost			0.1						(0.2)						(0.1)
Curtailments			(0.3)						1.0						—
Total recognized in other comprehensive income			0.7						17.5						(5.1)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income			$	2.9					$	14.9					$	(12.1)

Schedule of Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost

			at December 31,
			2023						2022						2021
Weighted-Average Assumptions Used to Determine Benefit Obligations
Discount rate			5.125		%				5.625		%				3.000		%
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate			5.625		%				3.000		%				2.625		%
Expected long-term return on plan assets			5.6		%				3.9		%				5.3		%
Rate of compensation increase			N/A						N/A						3.0		%

Schedule of Asset Allocation for Pension Plans and Target Allocation By Asset Category

The asset allocation for pension plans at the end of 2023 and 2022, and the targeted allocation for 2024, by asset category are as follows:

			Target Allocation						Plan Assets at December 31,
			2024						2023						2022
Asset Category
Equity securities			20		%				21		%				22		%
Fixed income			80		%				79		%				78		%
			100		%				100		%				100		%

Schedule of Fair Value of Plan Assets

The investment portfolios of the various funds at December 31, 2023 and 2022 are summarized as follows:

			December 31,
			2023						2022
			(in millions)
Mutual funds – U.S. equity			$	34.4					$	32.6
Mutual funds – international equity			22.8						22.3
Mutual funds - fixed income treasury and corporate bonds			208.2						197.2
Cash equivalents			1.3						1.2
			$	266.7					$	253.3

Schedule of Benefit Payments Reflecting Expected Future Service as Appropriate Expected to Be Paid

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the following calendar years:

			Pension Benefits
			(in millions)
2024			$	17.4
2025			$	17.9
2026			$	18.0
2027			$	18.3
2028			$	19.6
Years 2029 – 2033			$	97.9

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