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Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Stock by Class
The following is a summary of our capital stock activity over the past three years:
Common
Stock Shares
Treasury
Stock Shares
December 31, 2021185,983,792 60,284,313 
Stock options and awards— (286,805)
Repurchases of common stock, net— 875,480 
December 31, 2022185,983,792 60,872,988 
Stock options and awards— (301,008)
Repurchases of common stock, net— 651,052 
December 31, 2023185,983,792 61,223,032 
Stock options and awards— (122,288)
Repurchases of common stock, net— 42,146 
December 31, 2024185,983,792 61,142,890 
Schedule of Accumulated Other Comprehensive Income (Loss)
Summarized below is the roll forward of accumulated other comprehensive income (loss), net of tax.
(in Millions)Foreign currency adjustments
Derivative Instruments (1)
Pension and other postretirement benefits (2)
Total
Accumulated other comprehensive income (loss), net of tax at December 31, 2021$(62.5)5.2$(22.2)$(240.8)$(325.5)
2022 Activity
Other comprehensive income (loss) before reclassifications$(102.2)$(65.4)$(15.7)$(183.3)
Amounts reclassified from accumulated other comprehensive income (loss)4.2 35.9 9.1 49.2 
Accumulated other comprehensive income (loss), net of tax at December 31, 2022$(160.5)$(51.7)$(247.4)$(459.6)
2023 Activity
Other comprehensive income (loss) before reclassifications$29.2 $(72.4)$11.4 $(31.8)
Amounts reclassified from accumulated other comprehensive income (loss)— 73.9 11.0 84.9 
Accumulated other comprehensive income (loss), net of tax at December 31, 2023$(131.3)$(50.2)$(225.0)$(406.5)
2024 Activity
Other comprehensive income (loss) before reclassifications$(52.6)$33.2 $4.9 $(14.5)
Amounts reclassified from accumulated other comprehensive income (loss)— (0.5)10.9 10.4 
Accumulated other comprehensive income (loss), net of tax at December 31, 2024$(183.9)$(17.5)$(209.2)$(410.6)
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(1)See Note 18 to the consolidated financial statements included within this Form 10-K for more information.
(2)See Note 13 to the consolidated financial statements included within this Form 10-K for more information.
Schedule of Reclassification out of Accumulated Other Comprehensive Income
The table below provides details about the reclassifications from accumulated other comprehensive income (loss) and the affected line items on the consolidated statements of income (loss) for each of the periods presented.
Details about Accumulated Other Comprehensive Income (Loss) Components
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (1)
Affected Line Item on the Consolidated Statements of Income (Loss)
Year Ended December 31,
(in Millions)202420232022
Foreign currency translation adjustments:
Exit from Russian Operations (2)
$— $— $(4.2)Restructuring and other charges (income)
Derivative instruments:
Gain (loss) on foreign currency contracts$3.0 $(110.5)$(57.5)Costs of sales and services
Gain (loss) on foreign currency contracts— 7.3 6.5 Selling, general and administrative expenses
Gain (loss) on interest rate contracts(1.9)(2.4)(4.0)Interest expense, net
Total before tax$1.1 $(105.6)$(55.0)
(0.6)31.7 19.1 Provision for income taxes
Amount included in net income$0.5 $(73.9)$(35.9)
Pension and other postretirement benefits (3):
Amortization of prior service costs$— $(0.1)$(0.1)Selling, general and administrative expenses
Amortization of unrecognized net actuarial and other gains (losses)(12.7)(13.8)(10.9)Non-operating pension and postretirement charges (income)
Recognized loss due to curtailment and settlement(1.0)— (0.5)Non-operating pension and postretirement charges (income); Discontinued operations, net of income taxes
Total before tax$(13.7)$(13.9)$(11.5)
2.8 2.9 2.4 Provision for income taxes; Discontinued operations, net of income taxes
Amount included in net income$(10.9)$(11.0)$(9.1)
Total reclassifications for the period$(10.4)$(84.9)$(49.2)Amount included in net income
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(1)Amounts in parentheses indicate charges to the consolidated statements of income (loss).
(2)The reclassification of historical cumulative translation adjustments was the result of the exit from our Russian operations. See Note 7 within these consolidated financial statements for more information.
(3)Pension and other postretirement benefits amounts include the impact from both continuing and discontinued operations. For detail on the continuing operations components of pension and other postretirement benefits, see Note 13 to the consolidated financial statements included within this Form 10-K.