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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Schedule of Costs of Retirement Plans

Net periodic pension benefit expense recorded in the Company's consolidated statement of income for defined benefit pension plans include the following components (dollars in thousands):

						Pension Benefit
						2025						2024						2023
Service cost						$	560					$	510					$	490
Interest cost						1,300						1,300						1,290
Expected return on plan assets						(1,030)						(2,040)						(2,140)
Settlements and curtailments						140						—						1,020
Amortization of net loss						110						190						120
Net periodic benefit expense (income) (a)						$	1,080					$	(40)					$	780

__________________________

(a) The net periodic benefit expense for the U.S. defined benefit pension plans was $0.4 million, $0.5 million and $0.5 million for 2025, 2024 and 2023, respectively. The net periodic benefit expense (income) for the non-U.S. defined benefit pension plans was $0.7 million, $(0.5) million and $0.3 million for 2025, 2024 and 2023, respectively.

Schedule of Assumptions Used

Weighted average assumptions used in accounting for the U.S. defined benefit pension plans are as follows:

						Pension Benefit
						2025						2024						2023
Discount rate for obligations						5.58		%				5.73		%				5.05		%
Discount rate for benefit costs						5.73		%				5.05		%				5.24		%
Rate of increase in compensation levels						N/A						N/A						N/A
Expected long-term rate of return on plan assets						6.13		%				6.13		%				6.13		%

The Company utilizes a high-quality (Aa or greater) corporate bond yield curve as the basis for its domestic discount rate for its pension benefit plans. Management believes this yield curve removes the impact of including additional required corporate bond yields (potentially considered in the above-median curve) resulting from the uncertain economic climate that does not necessarily reflect the general trend in high-quality interest rates.

Weighted average assumptions used in accounting for the non-U.S. defined benefit pension plans are as follows:

						Pension Benefit
						2025						2024						2023
Discount rate for obligations						4.00		%				3.90		%				4.70		%
Discount rate for benefit costs						3.90		%				4.70		%				4.90		%
Rate of increase in compensation levels						5.50		%				5.50		%				5.50		%
Expected long-term rate of return on plan assets						3.60		%				5.80		%				6.60		%

Schedule of Changes in Projected Benefit Obligations and Fair Value of Plan Assets

The following provides a reconciliation of the changes in the Company's defined benefit pension plans' projected benefit obligations and fair value of assets for each of the years ended December 31, 2025 and 2024 and the funded status as of December 31, 2025 and 2024 (dollars in thousands):

						Pension Benefit
						2025						2024
Changes in Projected Benefit Obligations
Benefit obligations at January 1						$	(27,470)					$	(27,470)
Service cost						(560)						(510)
Interest cost						(1,300)						(1,300)
Actuarial (loss) gain (a)						(240)						(270)
Benefit payments						1,920						1,690
Expenses and taxes						260						—
Settlements						(140)						—
Change in foreign currency						(1,200)						390
Projected benefit obligations at December 31 (b)						(28,730)						(27,470)
Less: discontinued operations (b)						(10,340)						(9,780)
Projected benefit obligations at December 31 - continuing operations						$	(18,390)					$	(17,690)
Changes in Plan Assets
Fair value of plan assets at January 1						$	26,130					$	27,800
Actual return on plan assets						1,110						(1,050)
Employer contributions						1,460						1,340
Benefit payments						(1,920)						(1,690)
Expenses and taxes						(260)						—
Change in foreign currency						1,190						(270)
Fair value of plan assets at December 31 (c)						27,710						26,130
Less: discontinued operations (c)						10,560						9,410
Fair value of plan assets at December 31 - continuing operations						17,150						16,720
Funded status at December 31 - continuing operations						$	(1,240)					$	(970)

__________________________

(a) The actuarial loss for the year ended December 31, 2025 was primarily due to the decrease in the discount rate utilized in measuring the U.S. projected benefit obligations. The actuarial loss for the year ended December 31, 2024 was driven by a loss due to changes in financial assumptions and experience loss in the Non-U.S more than offsetting gains from an increase in the discount rate and demographic experience in the U.S.

(b) U.S. projected benefit obligations were $13.0 million and $12.5 million at December 31, 2025 and 2024, respectively. Non-U.S. projected benefit obligations were $15.7 million and $15.0 million at December 31, 2025 and 2024, respectively. Discontinued operations obligations are U.S. only.

(c) The fair value of U.S. plan assets was $11.8 million and $10.5 million at December 31, 2025 and 2024, respectively. The fair value of non-U.S. plan assets was $15.9 million and $15.6 million at December 31, 2025 and 2024, respectively. Discontinued operations plan assets are U.S. only

Schedule of Amounts Recognized in Balance Sheet

(Dollars in thousands)						Pension Benefit
						2025						2024
Amounts Recognized in Balance Sheet
Other assets						$	1,120					$	1,290
Current liabilities						(340)						(250)
Noncurrent liabilities						(2,020)						(2,010)
Net asset (liability) recognized at December 31						$	(1,240)					$	(970)
Net asset (liability) balance, held for sale						$	220					$	(370)

Schedule of Accumulated Other Comprehensive Income

(Dollars in thousands)						Pension Benefit
						2025						2024
Amounts Recognized in Accumulated Other Comprehensive Loss
Unrecognized prior service cost						$	10					$	10
Unrecognized net loss						10,910						10,860
Total accumulated other comprehensive loss recognized at December 31						$	10,920					$	10,870

Changes in AOCI by component for the year ended December 31, 2025 are summarized as follows, net of tax (dollars in thousands):

						Defined Benefit Plans						Derivative Instruments						Foreign Currency Translation						Total
Balance, December 31, 2024						$	(8,010)					$	16,300					$	(26,840)					$	(18,550)
Net unrealized gains (losses) arising during the period (a)						(580)						(11,580)						34,350						22,190
Less: Net realized gains (losses) reclassified to net income						(40)						—						3,690						3,650
Net current-period other comprehensive income (loss)						(540)						(11,580)						30,660						18,540
Balance, December 31, 2025						$	(8,550)					$	4,720					$	3,820					$	(10)

__________________________

(a) Defined benefit plans, net of income tax of $0.2 million. See Note 17, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax of $3.8 million. See Note 13, "Derivative Instruments," for further details.

Changes in AOCI by component for the year ended December 31, 2024, are summarized as follows, net of tax (dollars in thousands):

						Defined Benefit Plans						Derivative Instruments						Foreign Currency Translation						Total
Balance, December 31, 2023						$	(5,730)					$	13,260					$	(6,880)					$	650
Net unrealized gains (losses) arising during the period (a)						(2,370)						3,040						(19,960)						(19,290)
Less: Net realized losses reclassified to net income						(90)						—						—						(90)
Net current-period other comprehensive income (loss)						(2,280)						3,040						(19,960)						(19,200)
Balance, December 31, 2024						$	(8,010)					$	16,300					$	(26,840)					$	(18,550)

__________________________

(a) Defined benefit plans, net of income tax of $0.8 million. See Note 17, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax of $0.9 million. See Note 13, "Derivative Instruments," for further details.

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

(Dollars in thousands)						Accumulated Benefit Obligations												Projected Benefit Obligations
						2025						2024						2025						2024
Benefit Obligations at December 31,
Total benefit obligations						$	(28,410)					$	(27,270)					$	(28,730)					$	(27,470)
Plans with benefit obligations exceeding plan assets
Benefit obligations						$	(2,050)					$	(12,910)					$	(2,360)					$	(13,110)
Plan assets						$	—					$	10,490					$	—					$	10,490

Schedule of Effect of Change in Discount Rate and Expected Return on Assets on Benefit Obligations and Expense

A 25 basis point change in benefit obligation discount rates or 50 basis point change in expected return on plan assets would have the following effect (dollars in thousands):

						Pension Benefit
						December 31, 2025 Benefit Obligation												2025 Expense
Discount rate
25 basis point increase						$	(810)											$	(50)
25 basis point decrease						$	860											$	50
Expected return on assets
50 basis point increase						N/A												$	(70)
50 basis point decrease						N/A												$	70

Schedule of Allocation of Plan Assets

The actual weighted average asset allocation of the Company's domestic and foreign pension plans' assets at December 31, 2025 and 2024 and target allocations by class, were as follows:

						Domestic Pension																		Foreign Pension
												Actual																		Actual
						Target						2025						2024						Target						2025						2024
Equity securities						47		%				47		%				48		%				—		%				—		%				—		%
Fixed income						50		%				50		%				48		%				—		%				—		%				—		%
Insurance contracts						—		%				—		%				—		%				92		%				92		%				91		%
Cash and other						3		%				3		%				4		%				8		%				8		%				9		%
Total						100		%				100		%				100		%				100		%				100		%				100		%

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The following table summarizes the level under the fair value hierarchy (see Note 3, "Summary of Significant Accounting Policies") that the Company's pension plan assets are measured, on a recurring basis as of December 31, 2025 and 2024 (dollars in thousands):

						As of December 31, 2025
						Total						Level 1						Level 2						Level 3
Plan assets subject to leveling
Investment funds
Equity securities						$	5,560					$	5,560					$	—					$	—
Cash and cash equivalents						1,570						1,570						—						—
Insurance contracts						14,700						—						—						14,700
Plan assets measured at net asset value(a)
Common/collective trusts
Fixed income						5,880
Total						$	27,710					$	7,130					$	—					$	14,700
						As of December 31, 2024
						Total						Level 1						Level 2						Level 3
Plan assets subject to leveling
Investment funds
Equity securities						$	5,020					$	5,020					$	—					$	—
Cash and cash equivalents						1,870						1,870						—						—
Insurance contracts						14,240						—						—						14,240
Plan assets measured at net asset value(a)
Common/collective trusts
Fixed income						5,000
Total						$	26,130					$	6,890					$	—					$	14,240

________________________________________

(a) Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amount presented in the fair value of plan assets.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table provides a reconciliation of changes in Level 3 plan assets for the years ended December 31, 2025 and 2024 (dollars in thousands):

			Level 3 Assets
			2025						2024
Balance at beginning of period			$	14,240					$	—
Transfers out of Level 3			(890)						—
Gain (loss)			1,350						(430)
Purchases			—						14,670
Balance at end of period			$	14,700					$	14,240

Schedule of Expected Benefit Payments

The following benefit payments for both continuing and discontinued operations, which reflect expected future service, as appropriate, are expected to be paid during the following years (dollars in thousands):

Year ended December 31,						Pension Benefit
2026						$	1,760
2027						1,800
2028						1,930
2029						1,920
2030						2,170
Years 2031-2035						11,300

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