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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Schedule of cash dividends declared per common share | Cash dividends declared and paid per common share for the three and nine months ended September 30, 2024 and 2023 were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Cash dividends declared and paid per common share |  | $ | 0.66 |  |  | $ | 0.65 |  |  | $ | 1.98 |  |  | $ | 1.95 |
Schedule of reconciliation of weighted average number of shares | Reconciliations of these amounts are as follows (in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Weighted average number of common shares outstanding | 55.8 |  |  | 56.6 |  |  | 56.1 |  |  | 56.8 |
Director Plan and deferred stock units | 0.2 |  |  | 0.2 |  |  | 0.3 |  |  | 0.2 |
ESOP | 0.2 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
Common shares outstanding—basic | 56.2 |  |  | 57.0 |  |  | 56.6 |  |  | 57.2 |
Dilutive effect of restricted stock units | 0.2 |  |  | 0.4 |  |  | 0.2 |  |  | 0.4 |
Dilutive effect of stock option awards | 0.1 |  |  | 0.4 |  |  | 0.1 |  |  | 0.3 |
Common and potential common shares outstanding—diluted | 56.5 |  |  | 57.8 |  |  | 56.9 |  |  | 57.9 |
Schedule of changes in accumulated other comprehensive income (loss) balances | Changes in the accumulated other comprehensive loss balance were as follows (in millions):
| Foreign Currency Translation |  | Cash Flow Hedging Derivatives |  | Retirement Plan Activity |  | Accumulated Other Comprehensive Loss
Balance as of December 31, 2023 | $ | (62.6) |  |  | $ | 1.7 |  |  | $ | 3.4 |  |  | $ | (57.5) |
Reclassification to the statement of income | — |  |  | (10.7) |  |  | (0.5) |  |  | (11.2) |
Change in fair value | (14.9) |  |  | (2.7) |  |  | — |  |  | (17.6) |
Balance as of September 30, 2024 | $ | (77.5) |  |  | $ | (11.7) |  |  | $ | 2.9 |  |  | $ | (86.3) |

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