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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Schedule of Stockholders Equity | The quarterly changes in shareholders' equity during the nine months ended September 30, 2025 are as follows:
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Income (loss) |  | Treasury Stock |  | Total Shareholders' Equity |  |
(in millions, except per share data) | Shares |  | Amount |  |  |  |  |  |
Balance, December 31, 2024 | 21.0 |  |  | $ | 0.2 |  |  | $ | 319.4 |  |  | $ | 1,175.6 |  |  | $ | (65.4) |  |  | $ | (1.2) |  |  | $ | 1,428.6 |  |  |
Net income | — |  |  | — |  |  | — |  |  | 24.5 |  |  | — |  |  | — |  |  | 24.5 |  |  |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 13.5 |  |  | — |  |  | 13.5 |  |  |
Dividends ($0.31 per share) | — |  |  | — |  |  | — |  |  | (6.6) |  |  | — |  |  | — |  |  | (6.6) |  |  |
Incentive plan activity | — |  |  | — |  |  | 1.8 |  |  | — |  |  | — |  |  | — |  |  | 1.8 |  |  |
Balance, March 31, 2025 | 21.0 |  |  | $ | 0.2 |  |  | $ | 321.2 |  |  | $ | 1,193.5 |  |  | $ | (51.9) |  |  | $ | (1.2) |  |  | $ | 1,461.8 |  |  |
Net income | — |  |  | — |  |  | — |  |  | 26.4 |  |  | — |  |  | — |  |  | 26.4 |  |  |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 10.4 |  |  | — |  |  | 10.4 |  |  |
Dividends ($0.31 per share) | — |  |  | — |  |  | — |  |  | (6.5) |  |  |  |  | — |  |  | (6.5) |  |  |
Incentive plan activity | — |  |  | — |  |  | 4.0 |  |  | — |  |  | — |  |  | — |  |  | 4.0 |  |  |
Balance, June 30, 2025 | 21.0 |  |  | $ | 0.2 |  |  | $ | 325.2 |  |  | $ | 1,213.4 |  |  | $ | (41.5) |  |  | $ | (1.2) |  |  | $ | 1,496.1 |  |  |
Net income | — |  |  | — |  |  | — |  |  | 21.6 |  |  | — |  |  | — |  |  | 21.6 |  |  |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 4.7 |  |  | — |  |  | 4.7 |  |  |
Dividends ($0.31 per share) | — |  |  | — |  |  | — |  |  | (6.6) |  |  | — |  |  | — |  |  | (6.6) |  |  |
Incentive plan activity | — |  |  | — |  |  | 5.3 |  |  | — |  |  | — |  |  | — |  |  | 5.3 |  |  |
Balance, September 30, 2025 | 21.0 |  |  | $ | 0.2 |  |  | $ | 330.5 |  |  | $ | 1,228.4 |  |  | $ | (36.8) |  |  | $ | (1.2) |  |  | $ | 1,521.1 |  |  |
The quarterly changes in shareholders' equity during the nine months ended September 30, 2024 are as follows:
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Treasury Stock |  | Total Shareholders' Equity |  | Redeemable Non-controlling Interests
(in millions, except per share data) | Shares |  | Amount |  |  |  |  |  |
Balance, December 31, 2023 | 21.0 |  |  | $ | 0.2 |  |  | $ | 304.9 |  |  | $ | 1,128.0 |  |  | $ | (22.2) |  |  | $ | (1.2) |  |  | $ | 1,409.7 |  |  | $ | 17.9 |
Net income | — |  |  | — |  |  | — |  |  | 12.5 |  |  | — |  |  | — |  |  | 12.5 |  |  | — |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (3.5) |  |  | — |  |  | (3.5) |  |  | — |
Dividends ($0.30 per share) | — |  |  | — |  |  | — |  |  | (6.3) |  |  | — |  |  | — |  |  | (6.3) |  |  | — |
Incentive plan activity | — |  |  | — |  |  | 1.5 |  |  | — |  |  | — |  |  | — |  |  | 1.5 |  |  | — |
Acquisition of Alluxa non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (17.9) |
Balance, March 31, 2024 | 21.0 |  |  | $ | 0.2 |  |  | $ | 306.4 |  |  | $ | 1,134.2 |  |  | $ | (25.7) |  |  | $ | (1.2) |  |  | $ | 1,413.9 |  |  | $ | — |
Net income | — |  |  | — |  |  | — |  |  | 26.7 |  |  | — |  |  | — |  |  | 26.7 |  |  | — |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (8.1) |  |  | — |  |  | (8.1) |  |  | — |
Dividends ($0.30 per share) | — |  |  | — |  |  | — |  |  | (6.3) |  |  |  |  | — |  |  | (6.3) |  |  | — |
Incentive plan activity | — |  |  | — |  |  | 4.2 |  |  | — |  |  | — |  |  | — |  |  | 4.2 |  |  | — |
Balance, June 30, 2024 | 21.0 |  |  | $ | 0.2 |  |  | $ | 310.6 |  |  | $ | 1,154.6 |  |  | $ | (33.8) |  |  | $ | (1.2) |  |  | $ | 1,430.4 |  |  | $ | — |
Net income | — |  |  | — |  |  | — |  |  | 19.8 |  |  | — |  |  | — |  |  | 19.8 |  |  | — |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 9.3 |  |  | — |  |  | 9.3 |  |  | — |
Dividends ($0.30 per share) | — |  |  | — |  |  | — |  |  | (6.4) |  |  | — |  |  | — |  |  | (6.4) |  |  | — |
Incentive plan activity | — |  |  | — |  |  | 4.8 |  |  | — |  |  | — |  |  | — |  |  | 4.8 |  |  | — |
Balance, September 30, 2024 | 21.0 |  |  | $ | 0.2 |  |  | $ | 315.4 |  |  | $ | 1,168.0 |  |  | $ | (24.5) |  |  | $ | (1.2) |  |  | $ | 1,457.9 |  |  | $ | — |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following assumptions were used to estimate the fair value of the 2025 option awards:
Average expected term | 6 years
Expected volatility | 40.49 | %
Risk-free interest rate | 4.17 | %
Expected dividend yield | 0.62 | %

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2 + Details
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