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POSTRETIREMENT BENEFITS (Tables) | 12 Months Ended
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Dec. 31, 2023
POSTRETIREMENT BENEFITS Disclosure [Abstract] |
Postretirement plan change in benefit obligation | Changes in the benefit obligation were as follows:
| December 31, 2023 |  | December 31, 2022
| U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total
Change in Benefit Obligation | ($ in millions)
Benefit obligation - beginning of year | $ | 28.5 |  |  | $ | 6.4 |  |  | $ | 34.9 |  |  | $ | 39.3 |  |  | $ | 11.2 |  |  | $ | 50.5 |
Service cost | 0.6 |  |  | 0.1 |  |  | 0.7 |  |  | 0.8 |  |  | 0.3 |  |  | 1.1 |
Interest cost | 1.4 |  |  | 0.4 |  |  | 1.8 |  |  | 0.8 |  |  | 0.3 |  |  | 1.1 |
Actuarial loss (gain) | 1.5 |  |  | 0.2 |  |  | 1.7 |  |  | (8.0) |  |  | (4.2) |  |  | (12.2) |
Benefits paid | (3.8) |  |  | (0.3) |  |  | (4.1) |  |  | (4.4) |  |  | (0.4) |  |  | (4.8) |
Foreign currency translation adjustments | — |  |  | 0.2 |  |  | 0.2 |  |  | — |  |  | (0.8) |  |  | (0.8) |
Benefit obligation - end of year | $ | 28.2 |  |  | $ | 7.0 |  |  | $ | 35.2 |  |  | $ | 28.5 |  |  | $ | 6.4 |  |  | $ | 34.9 |
| December 31, 2023 |  | December 31, 2022
| U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total
| ($ in millions)
Funded status | $ | (28.2) |  |  | $ | (7.0) |  |  | $ | (35.2) |  |  | $ | (28.5) |  |  | $ | (6.4) |  |  | $ | (34.9) |
Amounts recognized in consolidated balance sheet | Amounts recognized in the consolidated balance sheets consisted of:
| December 31, 2023 |  | December 31, 2022
| U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total
| ($ in millions)
Accrued benefit in current liabilities | $ | (2.4) |  |  | $ | (0.3) |  |  | $ | (2.7) |  |  | $ | (2.6) |  |  | $ | (0.3) |  |  | $ | (2.9) |
Accrued benefit in noncurrent liabilities | (25.8) |  |  | (6.7) |  |  | (32.5) |  |  | (25.9) |  |  | (6.1) |  |  | (32.0) |
Accumulated other comprehensive loss | 11.0 |  |  | (2.7) |  |  | 8.3 |  |  | 10.3 |  |  | (3.1) |  |  | 7.2 |
Net balance sheet impact | $ | (17.2) |  |  | $ | (9.7) |  |  | $ | (26.9) |  |  | $ | (18.2) |  |  | $ | (9.5) |  |  | $ | (27.7) |
Components of net periodic benefit cost |
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Components of Net Periodic Benefit Cost | ($ in millions)
Service cost | $ | 0.7 |  |  | $ | 1.1 |  |  | $ | 1.3 |
Interest cost | 1.8 |  |  | 1.1 |  |  | 1.0 |
Amortization of prior service cost | 0.1 |  |  | 0.1 |  |  | 0.1 |
Recognized actuarial loss | 0.5 |  |  | 1.5 |  |  | 2.1 |
Net periodic benefit cost | $ | 3.1 |  |  | $ | 3.8 |  |  | $ | 4.5 |
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Included in Pretax Other Comprehensive Income (Loss) | ($ in millions)
Liability adjustment | $ | 1.7 |  |  | $ | (12.2) |  |  | $ | (3.8) |
Amortization of prior service costs and actuarial losses | (0.6) |  |  | (1.6) |  |  | (2.2) |
Schedule of actuarial assumption |
| December 31,
Weighted-Average Assumptions | 2023 |  | 2022 |  | 2021
Discount rate—periodic benefit cost | 5.5 | % |  | 2.8 | % |  | 2.3 | %
Discount rate—benefit obligation | 5.2 | % |  | 5.5 | % |  | 2.8 | %
Assumed healthcare cost trend rates | The assumed healthcare cost trend rates for pre-65 retirees were as follows:
| December 31,
| 2023 |  | 2022
Healthcare cost trend rate assumed for next year | 7.0 | % |  | 7.0 | %
Rate that the cost trend rate gradually declines to | 4.5 | % |  | 4.5 | %
Year that the rate reaches the ultimate rate | 2033 |  | 2032

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- Definition Tabular disclosure of the components of net periodic benefit costs for postretirement plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References No definition available. + Details
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- Definition Tabular disclosure of defined benefit postretirement plans, including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References No definition available. + Details
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- Definition Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (l) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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