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Retirement Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Retirement Benefits [Abstract] |
Schedule of Weighted-average Asset Allocations by Asset Category | Weighted-average asset allocations by asset category of the U.K. Pension Plan as of December 31, 2023 are as follows:
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs |  | Significant Unobservable Inputs
Asset category | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Investment account held by pension plan(a) | $ | 12.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 12.7 |
Total | $ | 12.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 12.7 |
(a)This category is comprised of investments in insurance contracts. Weighted-average asset allocations by asset category of the U.K. Pension Plan as of December 31, 2022 are as follows:
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs |  | Significant Unobservable Inputs
Asset category | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Investment account held by pension plan(a) | $ | 11.3 |  |  | — |  |  | — |  |  | $ | 11.3 |
Total | $ | 11.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 11.3 |
(a)This category is comprised of investments in insurance contracts.
Schedule of Reconciliation of Level 3 Investments | A reconciliation of the beginning and ending balances of the Level 3 investments of our U.K. Pension Plan during the years ended December 31 is as follows:
| 2023 |  | 2022
Fair value at beginning of year | $ | 11.3 |  |  | $ | 12.9 |
Purchases, sales, issuances and settlements, net | (0.3) |  |  | (0.3) |
Net (loss) gain | 1.1 |  |  | 0.1 |
Foreign currency | 0.6 |  |  | (1.4) |
Fair value at end of year | $ | 12.7 |  |  | $ | 11.3 |
Schedule of Weighted-Average Assumptions | Weighted-average assumptions used to determine benefit obligations as of December 31 are as follows:
| U.S. Nonqualified Plan |  | Non-U.S. Pension Benefits |  | Postretirement Medical Benefits
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Discount rate | 5.07 | % |  | 5.37 | % |  | 4.26 | % |  | 1.05 | % |  | 5.06 | % |  | 5.37 | %
Rate of compensation increase | — | % |  | — | % |  | 3.00 | % |  | 2.25 | % |  | — | % |  | — | %
Weighted-average assumptions used to determine net periodic benefit costs as of December 31 are as follows:
| U.S. Nonqualified Plan |  | Non-U.S. Pension Benefits |  | Postretirement Medical Benefits
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Discount rate | 5.37 | % |  | 2.54 | % |  | 2.06 | % |  | 4.68 | % |  | 1.55 | % |  | 1.05 | % |  | 5.37 | % |  | 2.53 | % |  | 2.07 | %
Expected long-term rate of return on plan assets | — | % |  | — | % |  | — | % |  | 6.10 | % |  | 3.20 | % |  | 2.70 | % |  | — | % |  | — | % |  | — | %
Rate of compensation increase | — | % |  | — | % |  | — | % |  | 2.25 | % |  | 1.50 | % |  | — | % |  | — | % |  | — | % |  | — | %
Schedule of Accumulated Benefit Obligations | The accumulated benefit obligations as of December 31 for all defined benefit plans are as follows:
| 2023 |  | 2022
U.S. Nonqualified Plan | $ | 0.9 |  |  | $ | 0.9 |
U.K. Pension Plan | 6.2 |  |  | 6.5 |
German Pension Plan | 1.0 |  |  | 0.7 |
French Pension Plan | 0.4 |  |  | 0.5 |
Italian Pension Plan | 2.5 |  |  | 2.4 |
Information For Our Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets | Information for our plans with an accumulated benefit obligation in excess of plan assets as of December 31 is as follows:
| 2023 |  | 2022
Accumulated benefit obligation | $ | 4.8 |  |  | $ | 4.5 |
Fair value of plan assets | — |  |  | — |
Information For Our Plans With A Projected Benefit Obligation In Excess Of Plan Assets | Information for our plans with a projected benefit obligation in excess of plan assets as of December 31 is as follows:
| 2023 |  | 2022
Projected benefit obligation | $ | 5.0 |  |  | $ | 4.7 |
Fair value of plan assets | — |  |  | — |
Schedule of Assumed Health Care Cost Trend Rates | Assumed healthcare cost trend rates as of December 31 are as follows:
| 2023 |  | 2022
Healthcare cost trend rate assumption for the next year Pre-65 | 8.00 | % |  | 5.30 | %
Healthcare cost trend rate assumption for the next year Post-65 | 8.80 | % |  | 5.80 | %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 4.00 | % |  | 4.00 | %
Year that the rate reaches the ultimate trend rate | 2047 |  | 2045
Schedule of Changes In Benefit Obligations and Plan Assets | Summaries related to changes in benefit obligations and plan assets and to the funded status of our defined benefit and postretirement medical benefit plans are as follows:
| U.S. Nonqualified Plan |  | Non-U.S. Pension Benefits |  | Postretirement Medical Benefits
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year | $ | 0.9 |  |  | $ | 1.1 |  |  | $ | 10.3 |  |  | $ | 16.2 |  |  | $ | 5.4 |  |  | $ | 7.0 |
Plan combinations | — |  |  | — |  |  | — |  |  | 1.0 |  |  | — |  |  | — |
Service cost | — |  |  | — |  |  | 0.1 |  |  | 0.3 |  |  | — |  |  | — |
Interest cost | — |  |  | — |  |  | 0.5 |  |  | 0.2 |  |  | 0.3 |  |  | 0.2 |
Actuarial (gain) loss | 0.1 |  |  | (0.1) |  |  | (0.3) |  |  | (5.1) |  |  | (0.7) |  |  | (1.1) |
Foreign exchange | — |  |  | — |  |  | 0.5 |  |  | (1.6) |  |  | — |  |  | — |
Settlement | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Benefits paid | (0.1) |  |  | (0.1) |  |  | (0.7) |  |  | (0.7) |  |  | (0.4) |  |  | (0.7) |
Benefit obligation at end of year | $ | 0.9 |  |  | $ | 0.9 |  |  | $ | 10.4 |  |  | $ | 10.3 |  |  | $ | 4.6 |  |  | $ | 5.4 |
Change in fair value of plan assets and net accrued liabilities: |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $ | — |  |  | $ | — |  |  | $ | 11.3 |  |  | $ | 12.9 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets | — |  |  | — |  |  | 1.1 |  |  | 0.1 |  |  | — |  |  | — |
Employer contributions | 0.1 |  |  | 0.1 |  |  | 0.3 |  |  | 0.4 |  |  | 0.4 |  |  | 0.7 |
Foreign exchange | — |  |  | — |  |  | 0.6 |  |  | (1.4) |  |  | — |  |  | — |
Settlement | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Benefits paid | (0.1) |  |  | (0.1) |  |  | (0.6) |  |  | (0.7) |  |  | (0.4) |  |  | (0.7) |
Fair value of plan assets at end of year | — |  |  | — |  |  | 12.7 |  |  | 11.3 |  |  | — |  |  | — |
Funded status at end of year | $ | (0.9) |  |  | $ | (0.9) |  |  | $ | 2.3 |  |  | $ | 1.0 |  |  | $ | (4.6) |  |  | $ | (5.4) |
Amounts recognized in the consolidated balance sheets consist of: |  |  |  |  |  |  |  |  |  |  |
Noncurrent other assets | $ | — |  |  | $ | — |  |  | $ | 6.5 |  |  | $ | 4.8 |  |  | $ | — |  |  | $ | — |
Current liabilities | (0.1) |  |  | (0.1) |  |  | (0.3) |  |  | (0.2) |  |  | (0.6) |  |  | (0.7) |
Long-term liabilities | (0.8) |  |  | (0.8) |  |  | (3.9) |  |  | (3.6) |  |  | (4.0) |  |  | (4.7) |
Net accrued liability | $ | (0.9) |  |  | $ | (0.9) |  |  | $ | 2.3 |  |  | $ | 1.0 |  |  | $ | (4.6) |  |  | $ | (5.4) |
Amounts recognized in accumulated other comprehensive loss consist of: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | $ | — |  |  | $ | — |  |  | $ | (0.1) |  |  | $ | (0.1) |  |  | $ | — |  |  | $ | — |
Net actuarial (loss) gain | (0.7) |  |  | (0.7) |  |  | 3.6 |  |  | 2.8 |  |  | 1.8 |  |  | 1.3 |
Accumulated other comprehensive (loss) income | $ | (0.7) |  |  | $ | (0.7) |  |  | $ | 3.5 |  |  | $ | 2.7 |  |  | $ | 1.8 |  |  | $ | 1.3 |
Schedule of Net Benefit Costs | The components of the net periodic benefit cost (credit) for the three years ended December 31 were as follows:
| U.S. Nonqualified Plan |  | Non-U.S. Pension Benefits |  | Postretirement Medical Benefits
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |
Interest cost | — |  |  | — |  |  | 0.1 |  |  | 0.5 |  |  | 0.2 |  |  | 0.2 |  |  | 0.3 |  |  | 0.2 |  |  | 0.1 |
Expected return on plan assets | — |  |  | — |  |  | — |  |  | (0.7) |  |  | (0.4) |  |  | (0.4) |  |  | — |  |  | — |  |  | — |
Amortization of net actuarial loss | 0.1 |  |  | 0.1 |  |  | — |  |  | (0.1) |  |  | — |  |  | 0.1 |  |  | (0.2) |  |  | — |  |  | — |
Net periodic benefit cost (credit) | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | (0.2) |  |  | $ | 0.1 |  |  | $ | (0.1) |  |  | $ | 0.1 |  |  | $ | 0.2 |  |  | $ | 0.2 |
Schedule of Changes In Accumulated Other Comprehensive Loss | The changes in accumulated other comprehensive loss for the three years ended December 31 were as follows:
| U.S. Nonqualified Plan |  | Non-U.S. Pension Benefits |  | Postretirement Medical Benefits
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Prior service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Net actuarial (gain) loss | 0.1 |  |  | (0.1) |  |  | — |  |  | (0.9) |  |  | (5.0) |  |  | 0.2 |  |  | (0.7) |  |  | (1.1) |  |  | 0.6 |
Amortization of net actuarial (loss) gain | (0.1) |  |  | (0.1) |  |  | — |  |  | 0.1 |  |  | — |  |  | (0.1) |  |  | 0.2 |  |  | — |  |  | — |
Total recognized in other comprehensive (income) loss | $ | — |  |  | $ | (0.2) |  |  | $ | — |  |  | $ | (0.8) |  |  | $ | (5.0) |  |  | $ | 0.1 |  |  | $ | (0.5) |  |  | $ | (1.1) |  |  | $ | 0.6 |
Total recognized in net benefit (credit) cost and other comprehensive (income) loss | $ | 0.1 |  |  | $ | (0.1) |  |  | $ | 0.1 |  |  | $ | (1.0) |  |  | $ | (4.9) |  |  | $ | — |  |  | $ | (0.4) |  |  | $ | (0.9) |  |  | $ | 0.8 |
Schedule Of Benefit Payments For Expected Future Service | The following benefit payments, which reflect expected future service, are expected to be paid:
| U.S. Nonqualified Plan |  | Non-U.S. Pension Benefits |  | Postretirement Medical Benefits
2024 | $ | 0.1 |  |  | $ | 0.6 |  |  | $ | 0.6 |
2025 | 0.1 |  |  | 0.6 |  |  | 0.5 |
2026 | 0.1 |  |  | 0.6 |  |  | 0.5 |
2027 | 0.1 |  |  | 0.6 |  |  | 0.5 |
2028 | 0.1 |  |  | 0.6 |  |  | 0.5 |
2028 to 2031 | 0.3 |  |  | 3.7 |  |  | 2.0 |
Total | $ | 0.8 |  |  | $ | 6.7 |  |  | $ | 4.6 |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -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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