v3.25.4

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Components of Net Pension Plan Expense (Income)

The components of net pension plan expense (income) for the years ended December 31, 2025, 2024 and 2023 are included in investment and other loss (income), net on the audited Consolidated Statements of Operations and were as follows:

		Year Ended December 31,
		2025				2024				2023
Interest cost		$	8.0			$	11.1			$	11.7
Expected return on assets			(6.8	)			(13.5	)			(13.2	)
Amortization, net			1.2				1.3				1.0
Net pension plan expense (income)			2.4				(1.1	)			(0.5	)
Pension plan settlement charge			82.8				—				—
Total pension plan expense (income)		$	85.2			$	(1.1	)		$	(0.5	)
Weighted-average assumptions used to calculate total pension plan expense (income):
Discount rate			5.3	%			5.0	%			5.2	%
Expected return on plan assets			5.3	%			6.0	%			5.8	%

Reconciliation of Funded Status

Reconciliation of Funded Status

		2025				2024
Benefit obligation at beginning of year		$	225.6			$	234.8
Interest cost			7.9				11.0
Actuarial loss (gain)			1.6				(3.5	)
Benefits paid			(72.6	)			(16.7	)
Pension plan settlement			(137.8	)			—
Benefit obligation at end of year (a)		$	24.7			$	225.6
Fair value of plan assets at beginning of year		$	189.5			$	199.5
Actual return on assets			8.4				4.9
Employer contributions			13.0				1.8
Benefits paid			(72.6	)			(16.7	)
Pension plan settlement			(137.8	)			—
Other			(0.5	)			—
Fair value of plan assets at end of year		$	—			$	189.5
Under funded status at end of year		$	(24.7	)		$	(36.1	)

(a)As the Company’s defined benefit plans are frozen and participants do not earn additional service benefits, the projected benefit obligation and accumulated benefit obligation are the same.

Amount Recognized on Consolidated and Combined Balance Sheets

The underfunded pension plans liabilities are presented on the Company’s audited Consolidated Balance Sheets as follows:

		December 31,
		2025				2024
Accrued liabilities		$	(2.0	)		$	(13.9	)
Pension and other postretirement benefits plans liabilities			(22.7	)			(22.2	)
Net liabilities		$	(24.7	)		$	(36.1	)

Amounts in Accumulated Other Comprehensive Loss

The amounts included in accumulated other comprehensive loss on the audited Consolidated Balance Sheets, excluding tax effects, that have not been recognized as components of net periodic benefit cost at December 31, 2025 and 2024 were as follows:

		December 31,
		2025				2024
Accumulated other comprehensive loss:
Net actuarial loss		$	(6.3	)		$	(90.3	)

Amounts Recognized in Other Comprehensive Income (Loss)

The pre-tax amounts recognized in other comprehensive income (loss) during the years ended December 31, 2025, 2024 and 2023 were as follows:

		Year Ended December 31,
		2025				2024				2023
Pension plan settlement charge		$	82.8			$	—			$	—
Net actuarial (loss) gain			—				(4.9	)			5.1
Amortization of net actuarial loss			1.2				1.2				1.0
Total recognized in other comprehensive income (loss)		$	84.0			$	(3.7	)		$	6.1

Weighted Average Assumptions Used to Determine Benefit Obligation

The weighted average assumptions used to determine the benefit obligation at December 31, 2025 and 2024 were as follows:

		December 31,
		2025				2024
Discount rate			5.4	%			5.3	%
Interest crediting rate			4.8	%			3.0	%

Expected Benefit Payments

Benefit payments are expected to be paid as follows:

2026		$	2.1
2027			2.0
2028			2.0
2029			2.2
2030			1.9
2031-2035			9.0

Allocation of Plan Assets

The fair values of the Company’s pension plan assets at December 31, 2024, by asset category, were as follows:

		December 31, 2024
		Total				Level 1				Level 2
Asset category:
Cash equivalents		$	62.6			$	—			$	62.6
Fixed income			64.4				—				64.4
Assets measured at NAV			62.5				—				—
Total		$	189.5			$	—			$	127.0

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in the accumulated postemployment benefit obligation from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (a)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfChangesInAccumulatedPostemploymentBenefitObligationsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (f)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit 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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (j)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration