XML 19 R7.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions
Total
Unconsolidated affiliates
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Unconsolidated affiliates
Retained Earnings (Deficit)
Accumulated Other Comp (Loss) Earnings
Treasury Stock
Non-controlling Interests
Beginning balance, Common Stock (in shares) at Dec. 31, 2024     94,300,000            
Beginning balance at Dec. 31, 2024 $ 1,815.3   $ 0.0 $ 2,013.3   $ 567.1 $ (19.2) $ (724.7) $ (21.2)
Beginning balance, Treasury Stock (in shares) at Dec. 31, 2024               31,500,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Other comprehensive earnings (loss) — unrealized gains and (losses) of investments in unconsolidated affiliates, net of tax 0.5 [1]           0.5    
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings 3.2 [2]           3.2    
Treasury stock repurchases (in shares)               5,700,000  
Treasury stock repurchases (112.3)             $ (112.3)  
Vesting of shares held in trust (in shares)               (700,000)  
Issuance of restricted stock and shares held in trust (in shares)     400,000         300,000  
Stock-based compensation 14.9 $ 7.2   14.9 $ 7.2        
RSU vesting and payment for shares withheld for taxes and in treasury (in shares)               100,000  
RSU vesting and payment for shares withheld for taxes and in treasury (1.6)             $ (1.6)  
Other activity in non-controlling interests 0.2         0.0     0.2
Dividends declared (15.2)         (15.2)      
Net income (loss) (355.5)         (351.8)     (3.7)
Ending balance, Common Stock (in shares) at Jun. 30, 2025     94,700,000            
Ending balance at Jun. 30, 2025 1,356.7   $ 0.0 2,035.4   200.1 (15.5) $ (838.6) (24.7)
Ending balance, Treasury Stock (in shares) at Jun. 30, 2025               36,900,000  
Beginning balance, Common Stock (in shares) at Dec. 31, 2024     94,300,000            
Beginning balance at Dec. 31, 2024 1,815.3   $ 0.0 2,013.3   567.1 (19.2) $ (724.7) (21.2)
Beginning balance, Treasury Stock (in shares) at Dec. 31, 2024               31,500,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) $ (536.7)                
Ending balance, Common Stock (in shares) at Dec. 31, 2025 46,703,745   94,900,000            
Ending balance at Dec. 31, 2025 $ 979.1   $ 0.0 2,040.5   11.5 6.5 $ (1,046.5) (32.9)
Ending balance, Treasury Stock (in shares) at Dec. 31, 2025 48,221,655             48,200,000  
Beginning balance, Common Stock (in shares) at Mar. 31, 2025     94,700,000            
Beginning balance at Mar. 31, 2025 $ 1,696.7   $ 0.0 2,021.0   446.5 (21.3) $ (726.3) (23.2)
Beginning balance, Treasury Stock (in shares) at Mar. 31, 2025               31,900,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Other comprehensive earnings (loss) — unrealized gains and (losses) of investments in unconsolidated affiliates, net of tax 2.8 [1]           2.8    
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings 3.0 [2]           3.0    
Treasury stock repurchases (in shares)               5,700,000  
Treasury stock repurchases (112.3)             $ (112.3)  
Vesting of shares held in trust (in shares)               (700,000)  
Stock-based compensation 11.2 3.2   11.2 3.2        
Other activity in non-controlling interests 0.2               0.2
Dividends declared (7.6)         (7.6)      
Net income (loss) (240.5)         (238.8)     (1.7)
Ending balance, Common Stock (in shares) at Jun. 30, 2025     94,700,000            
Ending balance at Jun. 30, 2025 $ 1,356.7   $ 0.0 2,035.4   200.1 (15.5) $ (838.6) (24.7)
Ending balance, Treasury Stock (in shares) at Jun. 30, 2025               36,900,000  
Beginning balance, Common Stock (in shares) at Dec. 31, 2025 46,703,745   94,900,000            
Beginning balance at Dec. 31, 2025 $ 979.1   $ 0.0 2,040.5   11.5 6.5 $ (1,046.5) (32.9)
Beginning balance, Treasury Stock (in shares) at Dec. 31, 2025 48,221,655             48,200,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Other comprehensive earnings (loss) — unrealized gains and (losses) of investments in unconsolidated affiliates, net of tax $ (6.5) [1]           (6.5)    
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings [2] 0.0                
Treasury stock repurchases (in shares)               3,500,000  
Treasury stock repurchases (44.8)             $ (44.8)  
Vesting of shares held in trust (in shares)               (100,000)  
Issuance of restricted stock and shares held in trust (in shares)     400,000         300,000  
Stock-based compensation 4.2 2.1   4.2 2.1        
RSU vesting and payment for shares withheld for taxes and in treasury (in shares)               100,000  
RSU vesting and payment for shares withheld for taxes and in treasury (1.3)             $ (1.3)  
Dividends declared (13.5)         (13.5)      
Net income (loss) $ (7.4)         5.4     (12.8)
Ending balance, Common Stock (in shares) at Jun. 30, 2026 43,366,802   95,300,000            
Ending balance at Jun. 30, 2026 $ 911.9   $ 0.0 2,046.8   3.4 0.0 $ (1,092.6) (45.7)
Ending balance, Treasury Stock (in shares) at Jun. 30, 2026 51,958,304             52,000,000.0  
Beginning balance, Common Stock (in shares) at Mar. 31, 2026     95,300,000            
Beginning balance at Mar. 31, 2026 $ 922.4   $ 0.0 2,043.5   (27.5) 6.0 $ (1,063.1) (36.5)
Beginning balance, Treasury Stock (in shares) at Mar. 31, 2026               49,700,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Other comprehensive earnings (loss) — unrealized gains and (losses) of investments in unconsolidated affiliates, net of tax (6.0) [1]           (6.0)    
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings [2] 0.0                
Treasury stock repurchases (in shares)               2,300,000  
Treasury stock repurchases (29.4)             $ (29.4)  
Stock-based compensation 2.0 $ 1.3   2.0 $ 1.3        
RSU vesting and payment for shares withheld for taxes and in treasury (in shares)               0  
RSU vesting and payment for shares withheld for taxes and in treasury (0.1)             $ (0.1)  
Other activity in non-controlling interests (0.1)               (0.1)
Dividends declared (6.6)         (6.6)      
Net income (loss) $ 28.4         37.5     (9.1)
Ending balance, Common Stock (in shares) at Jun. 30, 2026 43,366,802   95,300,000            
Ending balance at Jun. 30, 2026 $ 911.9   $ 0.0 $ 2,046.8   $ 3.4 $ 0.0 $ (1,092.6) $ (45.7)
Ending balance, Treasury Stock (in shares) at Jun. 30, 2026 51,958,304             52,000,000.0  
[1] Net of income tax (benefit) expense of $(1.6) million and $0.7 million for the three months ended June 30, 2026 and 2025, respectively, and $(1.7) million and $0.1 million for the six months ended June 30, 2026 and 2025, respectively.
[2] Net of income tax expense of $0.8 million and $0.9 million for three and six months ended June 30, 2025, respectively.