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CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
$ in Millions
9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Operating activities:        
Net income before allocation to noncontrolling interest $ 97.6 $ 126.5    
Adjustments to reconcile net income to net cash flows provided by operating activities:        
Depreciation and amortization 77.7 63.4    
Stock-based compensation expense 9.3 7.7    
Deferred income taxes (11.7) (0.3)    
Cash used for operating working capital 41.9 71.8    
Other 4.7 7.5    
Total provided by operating activities 135.7 133.0    
Investing activities:        
Capital expenditures (33.4) (34.6)    
Settlement of forward contracts 1.8 0.1    
Total used for investing activities (422.7) (304.4)    
Financing activities:        
Dividends paid (29.2) (27.4)    
Proceeds from stock options exercised 2.2 3.0    
Payment of tax withholding on equity awards vested (5.9) (6.5)    
Debt issuance costs (4.3) 0.0    
Proceeds from revolving credit facility 384.5 310.5    
Repayment of revolving credit facility (413.5) (160.5)    
Repayment of term loan (40.9) (3.3)    
Total provided by financing activities 293.3 115.8    
Effect of exchange rates on cash, cash equivalents and restricted cash 15.1 2.4    
Increase (decrease) in cash, cash equivalents and restricted cash 21.4 (53.2)    
Cash, cash equivalents and restricted cash at beginning of period1 173.4 [1] 227.2 [1]    
Cash, cash equivalents and restricted cash at end of period 194.8 [2] 174.0 [2]    
Current restricted cash 2.6 2.2 $ 0.8 $ 0.0
Noncurrent restricted cash 9.8 6.7 $ 6.8 $ 0.0
Detail of cash used for operating working capital:        
Accounts receivable 1.5 18.9    
Inventories (17.6) 1.7    
Other current assets (13.1) (11.7)    
Accounts payable (10.9) (3.6)    
Accrued liabilities 3.8 (56.0)    
U.S. and foreign taxes on income (5.6) (21.1)    
Supplemental disclosure of cash flow information:        
Interest paid 40.6 32.4    
Income taxes paid 48.1 62.0    
Unpaid capital expenditures 1.3 2.8    
Amount paid, net of cash acquired 391.1 269.9    
Proceeds from term loan $ 400.4 $ 0.0    
[1] Includes both current and non-current balances of restricted cash. Current restricted cash, included within “Other current assets” in our Unaudited Condensed Consolidated Balance Sheets, was $0.8 million and $0.0 million as of December 31, 2024, and 2023, respectively. Non-current restricted cash, included within “Other assets” in our Unaudited Condensed Consolidated Balance Sheets, was $6.8 million and $0.0 million as of December 31, 2024, and 2023, respectively.
[2] Includes both current and non-current balances of restricted cash. Current restricted cash, included within “Other current assets” in our Unaudited Condensed Consolidated Balance Sheets, was $2.6 million and $2.2 million as of September 30, 2025, and 2024, respectively. Non-current restricted cash, included within “Other assets” in our Unaudited Condensed Consolidated Balance Sheets, was $9.8 million and $6.7 million as of September 30, 2025, and 2024, respectively.