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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Tax Provision (Benefit)

Our income before income taxes was subject to taxes in the following jurisdictions for the following periods (in millions):

			Years Ended December 31,
			2024						2023						2022
United States			$	(1,485.7)					$	3.5					$	97.8
Foreign			12.5						31.3						44.1
Total			$	(1,473.2)					$	34.8					$	141.9

Schedule of Expense (Benefit) for Income Taxes

The provision (benefit) for income taxes is comprised of (in millions):

			Years Ended December 31,
			2024						2023						2022
Current tax provision:
Federal			$	3.8					$	7.0					$	9.8
State			6.8						7.1						5.7
Foreign			11.2						6.8						6.4
			21.8						20.9						21.9
Deferred tax provision (benefit):
Federal			(39.3)						(36.3)						(42.6)
State			(1.6)						(37.0)						7.9
Foreign			(6.4)						(7.8)						(3.2)
			(47.3)						(81.1)						(37.9)
Income tax (benefit) provision			$	(25.5)					$	(60.2)					$	(16.0)

Schedule of Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows (in millions):

												December 31,
												2024						2023
Deferred tax assets:
Operating loss carryforwards												$	126.8					$	132.3
Tax credit carryforwards												66.0						58.7
ASC Topic 842 lease liability												438.8						461.1
Deemed landlord financing												297.1						252.3
Other												95.2						103.9
Total deferred tax assets												1,023.9						1,008.3
Valuation allowance for deferred tax assets												(57.4)						(47.7)
Deferred tax assets, net of valuation allowance												966.5						960.6
Deferred tax liabilities:
Basis difference related to fixed assets												(231.7)						(209.9)
Basis difference related to intangible assets with an indefinite life												(303.1)						(337.1)
ASC Topic 842 ROU assets												(397.6)						(425.3)
Other												(6.8)						(9.3)
Total deferred tax liabilities												(939.2)						(981.6)
Net deferred tax assets (liabilities) are shown on the accompanying consolidated balance sheets as follows:
						Balance Sheet Location
Non-current deferred tax assets						Other assets, net						52.2						15.7
Non-current deferred tax liabilities						Deferred taxes, net						(24.9)						(36.7)
Deferred tax assets (liabilities), net												$	27.3					$	(21.0)

Schedule of Credit Carryforward Expiry

As of December 31, 2024, we had federal and state income tax credit carryforwards of $56.6 million and $33.3 million, respectively, which will expire if unused at various dates beginning on December 31, 2028. Such carryforwards expire as follows (in millions):

U.S. foreign tax credit			$	2.8					2028-2034
U.S. business tax credits			$	53.8					2037-2047
State business tax credits - indefinite lived			$	28.1					Do not expire
State business tax credits - definite lived			$	5.2					2033-2047

Schedule of Net Operating Losses Expiry

As of December 31, 2024, we had federal, Germany, and United Kingdom net operating loss (“NOL”) carryforwards of $357.6 million and interest expense carryforwards of $50.3 million, respectively. Such carryforwards expire as follows (in millions):

U.S. loss carryforwards - definite lived			$	13.3					2028-2037
U.S. loss carryforwards - indefinite lived			$	109.2					Do not expire
U.S. interest expense carryforwards			$	50.3					Do not expire
Germany loss carryforwards			$	147.0					Do not expire
United Kingdom loss carryforwards			$	88.1					Do not expire

Schedule of Reconciliation of Effective Tax Rate on Income or Loss and Statutory Tax Rate

A reconciliation of the effective tax rate on income or loss and the statutory tax rate is as follows:

			Years Ended December 31,
			2024						2023						2022
Statutory U.S. tax rate			21.0		%				21.0		%				21.0		%
State income taxes, net of U.S. tax benefit			(0.3)		%				(67.7)		%				7.1		%
Foreign income taxed at other than U.S. statutory rate			0.8		%				(26.0)		%				(8.9)		%
Federal tax credits			1.0		%				(46.6)		%				(8.7)		%
Goodwill impairment			(19.4)		%				—		%				—		%
Other non-deductible expenses			(0.2)		%				6.0		%				1.0		%
Non-deductible compensation			(0.5)		%				17.9		%				4.5		%
U.S. Foreign tax inclusion			—		%				0.4		%				1.0		%
Foreign derived intangible income deduction			0.2		%				(7.5)		%				(3.0)		%
Impact of uncertain tax positions			—		%				8.5		%				(0.8)		%
Change in deferred tax valuation allowance			(0.9)		%				(88.5)		%				(23.0)		%
Withholding tax impacts on foreign subsidiaries			—		%				5.5		%				—		%
Other			—		%				4.3		%				(1.5)		%
Effective tax rate			1.7		%				(172.7)		%				(11.3)		%

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

			2024						2023						2022
Balance at January 1			$	29.3					$	26.2					$	26.6
Additions based on tax positions related to the current year			2.1						1.8						1.7
Additions for tax positions of prior years			—						2.0						1.2
Reductions for tax positions of prior years			(0.8)						—						(1.5)
Settlement of tax audits			(1.1)						—						—
Reductions due to lapsed statute of limitations			(1.8)						(0.7)						(1.8)
Balance at December 31			$	27.7					$	29.3					$	26.2

Schedule of Major Jurisdictions No Longer Subject to Income Tax Examinations by Tax Authorities

We or one of our subsidiaries files income tax returns in the U.S. federal jurisdiction and various U.S. states and foreign jurisdictions. We are generally no longer subject to income tax examinations by tax authorities in our major jurisdictions as follows:

Major Tax Jurisdiction						Years No Longer Subject to Audit
U.S. Federal						2010 and prior
Germany						2018 and prior
Japan						2018 and prior
South Korea						2021 and prior
United Kingdom						2020 and prior

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