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Shareholders' Equity | 12 Months Ended
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Dec. 31, 2025
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | SHAREHOLDERS' EQUITY Activity in our various shareholders' equity accounts for the years ended December 31, 2025, 2024 and 2023 were as follows (in millions):
| Shares Issued |  | Par Value |  | Additional Paid-in Capital |  | Warrants |  | Retained Earnings |  | AOCI |  | Treasury Shares |  | Non-controlling Interest
BALANCE, December 31, 2022 | 75.2 |  |  | $ | 0.8 |  |  | $ | 1,097.9 |  |  | $ | 16.4 |  |  | $ | 160.1 |  |  | $ | 14.7 |  |  | $ | — |  |  | $ | 8.0 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 865.4 |  |  | — |  |  | — |  |  | 1.4 |
Share-based compensation cost | — |  |  | — |  |  | 27.3 |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Shares issued under share-based compensation plans, net | 0.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Repurchase of Common Shares | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (200.1) |  |  | — |
Net changes in pension and other postretirement benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10.8 |  |  | — |  |  | — |
Shares withheld for taxes on vesting of share-based awards | — |  |  | — |  |  | (5.4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.3) |  |  | — |  |  | — |
BALANCE, December 31, 2023 | 75.4 |  |  | $ | 0.8 |  |  | $ | 1,119.8 |  |  | $ | 16.4 |  |  | $ | 1,025.5 |  |  | $ | 25.2 |  |  | $ | (200.1) |  |  | $ | 9.4 |
Net income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | 373.4 |  |  | — |  |  | — |  |  | (3.6) |
Share-based compensation cost | — |  |  | — |  |  | 27.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Shares issued under share-based compensation plans, net | 0.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Repurchase of Common Shares | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (125.0) |  |  | — |
Net changes in pension and other postretirement benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10.9 |  |  | — |  |  | — |
Shares withheld for taxes on vesting of share-based awards | — |  |  | — |  |  | (29.9) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Purchase of noncontrolling ownership interest in a non-U.S. subsidiary (1) | — |  |  | — |  |  | 4.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (8.4) |
Sale of noncontrolling ownership interest in a non-U.S. subsidiary (1) | — |  |  | — |  |  | (8.4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8.4 |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1.9) |  |  | — |  |  | — |
BALANCE, December 31, 2024 | 76.2 |  |  | $ | 0.8 |  |  | $ | 1,113.3 |  |  | $ | 16.4 |  |  | $ | 1,398.9 |  |  | $ | 34.2 |  |  | $ | (325.1) |  |  | $ | 5.8 |
Net income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | 982.8 |  |  | — |  |  | — |  |  | (3.7) |
Share-based compensation cost | — |  |  | — |  |  | 25.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Shares issued under share-based compensation plans, net | 0.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Repurchase of Common Shares | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (100.0) |  |  | — |
Net changes in pension and other postretirement benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24.5 |  |  | — |  |  | — |
Shares withheld for taxes on vesting of share-based awards | — |  |  | — |  |  | (3.6) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2.2 |  |  | — |  |  | — |
BALANCE, December 31, 2025 | 76.4 |  |  | 0.8 |  |  | 1,134.9 |  |  | 16.4 |  |  | 2,381.7 |  |  | 60.9 |  |  | (425.1) |  |  | 2.1 |
(1)In 2024, the Company purchased the 51% noncontrolling interest related to a certain non-U.S. subsidiary and concurrently transferred the 51% noncontrolling interest to new partners. The net transactions did not result in a change to our ownership or controlling interest in the non-U.S. subsidiary. Share Repurchase Program Our board of directors has authorized a share repurchase program (the "Share Repurchase Program") under which we may purchase up to $600.0 million of our outstanding Common Shares. The Share Repurchase Program does not have a fixed expiration, may be modified, suspended or discontinued at any time and any repurchases made pursuant to the Share Repurchase Program are subject to compliance with applicable covenants and restrictions under our financing agreements. The following table summarizes shares repurchases, aggregate cost and the average per share price (in millions, except average per share price):
| Years Ended December 31,
| 2025 |  | 2024 |  | 2023 |  |
Shares repurchased | 2.0 |  |  | 2.2 |  |  | 3.0 |  |  |
Aggregate cost | $ | 100.0 |  |  | $ | 125.0 |  |  | $ | 200.0 |  |  |
Average price per share | $ | 49.78 |  |  | $ | 56.11 |  |  | $ | 66.77 |  |  |
As of December 31, 2025, we had approximately $175.0 million available for share repurchases pursuant to the Share Repurchase Program, subject to certain restrictions provided within the Business Combination Agreement (as defined within "Note 15 - Subsequent Events").

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent + Details
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