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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Sources of Income before Income Taxes

The sources of income before income taxes were as follows:

(in millions)		2025				2024				2023
Domestic		$	25.9			$	90.2			$	95.2
Foreign			112.2				(49.0	)			79.2
		$	138.1			$	41.2			$	174.4

Components of Income Tax Expense

The components of income tax expense are summarized as follows:

(in millions)		2025				2024				2023
Current:
Federal		$	4.5			$	16.9			$	12.4
State and local			1.7				2.9				0.2
Foreign			24.3				26.2				18.6
			30.5				46.0				31.2
Deferred:
Federal			(7.7	)			(4.1	)			5.2
State and local			(0.3	)			(0.5	)			0.3
Foreign			(1.0	)			(35.8	)			(1.4	)
			(9.0	)			(40.4	)			4.1
Total:
Federal			(3.2	)			12.8				17.6
State and local			1.4				2.4				0.5
Foreign			23.3				(9.6	)			17.2
		$	21.5			$	5.6			$	35.3

Factors Effecting Effective Tax Rate from U.S. Federal Statutory Rate

(in millions)		2025							2024							2023
		in Dollars			in Percent				in Dollars			in Percent				in Dollars			in Percent
U.S. federal statutory tax rate		$	29.0			21.0	%		$	8.7			21.0	%		$	36.6			21.0	%
State and local income taxes, net of federal income tax effect*			1.7			1.2	%			2.7			6.6	%			1.0			0.6	%
Foreign tax effects:
Brazil:
Changes in valuation allowance		**			**					2.7			6.6	%		**			**
Adjustment to contingent consideration			(3.2	)		-2.3	%			0.7			1.7	%		**			**
Foreign tax rate differential		**			**				**			**					(1.8	)		-1.0	%
Other			(1.2	)		-0.8	%			0.8			1.9	%			0.3			0.2	%
Germany:
Foreign tax rate differential		**			**					0.7			1.7	%		**			**
Other		**			**					(0.1	)		-0.2	%		**			**
Italy		**			**					0.6			1.5	%		**			**
U.K.:
Foreign tax rate differential			2.1			1.5	%			(3.4	)		-8.3	%			1.3			0.7	%
Foreign currency transactions		**			**				**			**					(2.6	)		-1.5	%
Innovation incentives			(3.2	)		-2.3	%			(3.2	)		-7.8	%			(1.5	)		-0.9	%
Other			0.4			0.3	%			0.4			1.0	%			0.5			0.3	%
Other foreign jurisdictions			2.7			2.0	%			0.2			0.5	%			1.7			1.0	%
Effect of cross-border tax laws:
Global intangible low-taxed income, net of foreign tax credit			0.8			0.6	%			4.3			10.4	%			(0.2	)		-0.1	%
Subpart F income, net of foreign tax credit			—			0.0	%			1.2			2.9	%			0.2			0.1	%
Incentive for foreign derived intangible income			(0.5	)		-0.4	%			(1.9	)		-4.6	%			(4.5	)		-2.6	%
Tax on unremitted foreign earnings			2.1			1.5	%			0.8			1.9	%			2.4			1.4	%
Other			0.1			0.1	%			0.3			0.7	%			—			0.0	%
Tax credits			(0.5	)		-0.4	%			(0.9	)		-2.2	%			(1.0	)		-0.6	%
Nontaxable or nondeductible items:
Nondeductible officer compensation		**			**					2.0			4.9	%			1.8			1.0	%
Other			0.7			0.5	%			(0.9	)		-2.1	%			(0.2	)		-0.1	%
Changes in unrecognized tax benefits			—			0.0	%			(10.1	)		-24.5	%			1.3			0.7	%
Tax impact of internal reorganizations			(9.5	)		-6.9	%			—			0.0	%			—			0.0	%
		$	21.5			15.6	%		$	5.6			13.6	%		$	35.3			20.2	%

* State taxes in Texas, Louisiana and Oklahoma made up the majority (greater than 50%) of the tax effect in this category in 2025 (2024 and 2023: Texas, California and Oklahoma).

** The amount of income tax during the year does not meet the required threshold and is included in relevant 'Other' category.

Schedule of Cash Paid for Income Taxes (Net of Refunds)

Cash paid for income taxes (net of refunds) consisted of the following:

(in millions)		2025				2024				2023
Federal		$	26.1			$	27.5			$	27.5
State and local			3.1				1.4				4.7
Foreign:
Brazil			2.9				2.9			*
Canada		*					3.7			*
Germany			3.3				4.2				7.4
Italy			3.9				3.9			*
U.K.			6.8				6.7				8.6
Other Foreign			4.9				1.4				6.1
			21.8				22.8				22.1
		$	51.0			$	51.7			$	54.3

*The amount of income taxes paid during the year does not meet the required threshold and is included in 'Other Foreign'.

Details of Deferred Tax Assets and Liabilities

Details of deferred tax assets and liabilities are analyzed as follows:

(in millions)		2025				2024
Deferred tax assets:
Stock compensation		$	3.3			$	3.7
Net operating loss carry forwards			8.2				8.8
Other intangible assets			15.6				4.8
Accretion expense			3.2				3.2
Restructuring provision			1.4				1.5
Employee related liabilities			4.6				9.2
Foreign tax credits			3.0				2.1
Operating lease liabilities			12.9				11.1
Inventory provisions			9.4				9.0
Pensions			1.2				0.5
Carried forward interest deductions			2.7				1.4
Bad debt reserves			1.1				1.4
Research and experimental expenditure			6.1				8.3
Other			5.7				3.4
Subtotal			78.4				68.4
Less valuation allowance			(2.8	)			(2.4	)
Total net deferred tax assets		$	75.6			$	66.0
Deferred tax liabilities:
Property, plant and equipment		$	(27.0	)		$	(29.5	)
Intangible assets including goodwill			(31.2	)			(31.6	)
Customer relationships			(1.0	)			(1.7	)
Unremitted overseas earnings			(7.2	)			(5.1	)
Right-of-use assets			(12.9	)			(10.7	)
Other			(1.8	)			(1.5	)
Total deferred tax liabilities		$	(81.1	)		$	(80.1	)
Net deferred tax liability		$	(5.5	)		$	(14.1	)
Deferred tax assets		$	13.6			$	9.4
Deferred tax liabilities			(19.1	)			(23.5	)
		$	(5.5	)		$	(14.1	)

Roll-forward of Unrecognized Tax Benefits and Associated Accrued Interest and Penalties

A roll-forward of unrecognized tax benefits and associated accrued interest and penalties is as follows:

(in millions)		Unrecognized Tax Benefits				Interest and Penalties				Total
Opening balance at January 1, 2023		$	10.2			$	3.2			$	13.4
Reductions for tax positions of prior periods			—				—				—
Additions for tax positions of prior periods			0.3				1.1				1.4
Closing balance at December 31, 2023			10.5				4.3				14.8
Current			(1.0	)			(0.2	)			(1.2	)
Non-current		$	9.5			$	4.1			$	13.6
Opening balance at January 1, 2024		$	10.5			$	4.3			$	14.8
Reductions for tax positions of prior periods			(10.5	)			(5.1	)			(15.6	)
Additions for tax positions of prior periods			—				0.8				0.8
Closing balance at December 31, 2024			—				—				—
Current			—				—				—
Non-current		$	—			$	—			$	—
Opening balance at January 1, 2025		$	—			$	—			$	—
Reductions for tax positions of prior periods			—								—
Additions for tax positions of prior periods			—								—
Closing balance at December 31, 2025			—				—				—
Current			—				—				—
Non-current		$	—			$	—			$	—

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