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Retirement and Postretirement Plans (Tables)

12 Months Ended

Dec. 31, 2024

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Schedule of Defined Benefit Plans Disclosures

The following table sets forth the change in benefit obligation for the pension and postretirement benefit plans as of December 31, 2024:


		Pension
		United States of America												United Kingdom				Mexico
Change in benefit obligation:		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Benefit obligation at the beginning of year		$	490.9			$	124.0			$	16.5			$	56.7			$	0.5			$	688.6			$	84.9
Service cost			8.9				0.3				—				—				—				9.2				0.6
Interest cost			25.4				2.3				0.9				2.5				—				31.1				4.3
Actuarial (gains) losses			(16.9	)			(1.5	)			(0.7	)			(5.1	)			(0.4	)			(24.6	)			(0.2	)
Benefits paid			(36.7	)			(6.9	)			(0.6	)			(4.0	)			—				(48.2	)			(9.5	)
Settlements			—				(118.2	)			—				—				—				(118.2	)			—
Foreign currency translation adjustment			—				—				—				(0.8	)			—				(0.8	)			—
Benefit obligation at the end of year		$	471.6			$	—			$	16.1			$	49.3			$	0.1			$	537.1			$	80.1

Significant actuarial gains related to changes in benefit obligations for 2024 primarily resulted from an increase in discount rates. Significant settlements were a result of the Salaried Plan annuity purchase as well as lump sum payments during 2024.

The following table sets forth the change in benefit obligation for the pension and postretirement benefit plans as of December 31, 2023:


		Pension
		United States of America												United Kingdom				Mexico
Change in benefit obligation:		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Benefit obligation at the beginning of year		$	474.9			$	128.1			$	15.5			$	47.7			$	0.4			$	666.6			$	87.4
Service cost			9.5				0.9				—				—				—				10.4				0.7
Interest cost			25.9				6.7				0.9				2.3				—				35.8				4.7
Actuarial (gains) losses			19.1				5.7				0.7				7.3				—				32.8				3.8
Benefits paid			(38.5	)			(11.4	)			(0.6	)			(3.3	)			—				(53.8	)			(11.7	)
Settlements			—				(6.0	)			—				—				—				(6.0	)			—
Foreign currency translation adjustment			—				—				—				2.7				0.1				2.8				—
Benefit obligation at the end of year		$	490.9			$	124.0			$	16.5			$	56.7			$	0.5			$	688.6			$	84.9

Significant actuarial losses related to changes in benefit obligations for 2023 primarily resulted from a decrease in discount rates.

The following table sets forth the change in plan assets and funded status for the pension and postretirement benefit plan as of December 31, 2024:


		Pension
		United States of America												United Kingdom				Mexico
Change in plan assets:		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Fair value of plan assets at the beginning of year		$	334.7			$	129.6			$	—			$	61.0			$	0.3			$	525.6			$	53.8
Actual return on plan assets			2.8				(0.9	)			—				(3.4	)			—				(1.5	)			2.7
Company contributions / payments			40.9				(3.6	)			0.6				1.9				—				39.8				2.4
Benefits paid			(36.7	)			(6.9	)			(0.6	)			(4.0	)			—				(48.2	)			(9.5	)
Settlements			—				(118.2	)			—				—				—				(118.2	)			—
Foreign currency translation adjustment			—				—				—				(0.9	)			—				(0.9	)			—
Fair value of plan assets at end of year		$	341.7			$	—			$	—			$	54.6			$	0.3			$	396.6			$	49.4
Funded status at end of year		$	(129.9	)		$	—			$	(16.1	)		$	5.3			$	0.2			$	(140.5	)		$	(30.7	)

The following table sets forth the change in plan assets and funded status for the pension and postretirement benefit plan as of December 31, 2023:


		Pension
		United States of America												United Kingdom				Mexico
Change in plan assets:		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Fair value of plan assets at the beginning of year		$	353.9			$	137.7			$	—			$	57.5			$	0.3			$	549.4			$	59.2
Actual return on plan assets			19.3				9.3				—				2.5				—				31.1				5.3
Company contributions / payments			—				—				0.6				1.2				—				1.8				1.0
Benefits paid			(38.5	)			(11.4	)			(0.6	)			(3.3	)			—				(53.8	)			(11.7	)
Settlements			—				(6.0	)			—				—				—				(6.0	)			—
Foreign currency translation adjustment			—				—				—				3.1				—				3.1				—
Fair value of plan assets at end of year		$	334.7			$	129.6			$	—			$	61.0			$	0.3			$	525.6			$	53.8
Funded status at end of year		$	(156.2	)		$	5.6			$	(16.5	)		$	4.3			$	(0.2	)		$	(163.0	)		$	(31.1	)

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized on the balance sheet at December 31, 2024 for the Company's pension and postretirement benefit plans include:


		Pension
		United States of America												United Kingdom				Mexico
		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Non-current assets		$	—			$	—			$	—			$	5.3			$	0.2			$	5.5			$	—
Current liabilities			(64.7	)			—				(0.6	)			—				—				(65.3	)			(1.2	)
Non-current liabilities			(65.2	)			—				(15.5	)			—				—				(80.7	)			(29.5	)
Total		$	(129.9	)		$	—			$	(16.1	)		$	5.3			$	0.2			$	(140.5	)		$	(30.7	)

Amounts recognized on the balance sheet at December 31, 2023 for the Company's pension and postretirement benefit plans include:


		Pension
		United States of America												United Kingdom				Mexico
		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Non-current assets		$	—			$	5.6			$	—			$	4.3			$	—			$	9.9			$	—
Current liabilities			(41.7	)			—				(0.6	)			—				—				(42.3	)			(1.2	)
Non-current liabilities			(114.5	)			—				(15.9	)			—				(0.2	)			(130.6	)			(29.9	)
Total		$	(156.2	)		$	5.6			$	(16.5	)		$	4.3			$	(0.2	)		$	(163.0	)		$	(31.1	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Included in accumulated other comprehensive income (loss) at December 31, 2024 were the following before-tax amounts that had not been recognized in net periodic benefit cost:


		Pension
		United States of America												United Kingdom				Mexico
		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Unrecognized prior service (benefit) cost		$	9.9			$	—			$	—			$	0.4			$	—			$	10.3			$	(38.0	)

Included in accumulated other comprehensive income (loss) at December 31, 2023 were the following before-tax amounts that had not been recognized in net periodic benefit cost:


		Pension
		United States of America												United Kingdom				Mexico
		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Unrecognized prior service (benefit) cost		$	11.1			$	—			$	—			$	0.5			$	—			$	11.6			$	(44.0	)

Schedule of Assumptions Used

The weighted average assumptions used in determining benefit obligation as of December 31, 2024 and 2023 were as follows:


		Pension								Postretirement
Assumptions:		2024				2023				2024				2023
Discount rate			5.71	%			5.33	%			5.73	%			5.43	%
Future compensation assumption			3.50	%			3.00	%		n/a				n/a

The weighted average assumptions used in determining benefit cost for the years ended December 31, 2024 and 2023 were as follows:


		Pension								Postretirement
Assumptions:		2024				2023				2024				2023
Discount rate			5.33	%			5.61	%			5.43	%			5.70	%
Future compensation assumption			3.00	%			3.00	%		n/a				n/a
Expected long-term return on plan assets			7.15	%			7.13	%			5.80	%			6.25	%

Schedule of Periodic Benefit Cost

The components of net periodic benefit cost (income) for the year ended December 31, 2024 were as follows:


		Pension
		United States of America												United Kingdom				Mexico
Components of net periodic benefit cost (income):		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Service cost		$	8.9			$	0.3			$	—			$	—			$	—			$	9.2			$	0.6
Interest cost			25.4				2.3				0.9				2.5				—				31.1				4.3
Expected return on plan assets			(28.0	)			(2.4	)			—				(3.1	)			—				(33.5	)			(2.9	)
Amortization of prior service cost			1.2				—				—				—				—				1.2				(5.9	)
Settlements			—				—				—				—				—				—				—
Net remeasurement losses (gains)			8.3				1.8				(0.7	)			1.4				(0.4	)			10.4				(0.1	)
Net Periodic Benefit Cost (Income)		$	15.8			$	2.0			$	0.2			$	0.8			$	(0.4	)		$	18.4			$	(4.0	)

The components of net periodic benefit cost (income) for the year ended December 31, 2023 were as follows:


		Pension
		United States of America												United Kingdom				Mexico
Components of net periodic benefit cost (income):		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Service cost		$	9.5			$	0.9			$	—			$	—			$	—			$	10.4			$	0.7
Interest cost			25.9				6.7				0.9				2.3				—				35.8				4.7
Expected return on plan assets			(26.9	)			(7.5	)			—				(2.7	)			—				(37.1	)			(3.4	)
Amortization of prior service cost			1.3				—				—				—				—				1.3				(6.0	)
Settlements			—				—				—				—				—				—				—
Net remeasurement losses (gains)			26.6				4.0				0.6				7.5				—				38.7				1.9
Net Periodic Benefit Cost (Income)		$	36.4			$	4.1			$	1.5			$	7.1			$	—			$	49.1			$	(2.1	)

The components of net periodic benefit cost (income) for the year ended December 31, 2022 were as follows:


		Pension
		United States of America												United Kingdom				Mexico
Components of net periodic benefit cost (income):		Bargaining Plan				Salaried Plan				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
Service cost		$	13.9			$	0.3			$	—			$	—			$	—			$	14.2			$	1.1
Interest cost			31.1				6.5				0.7				1.3				—				39.6				3.4
Expected return on plan assets			(46.7	)			(5.0	)			—				(3.2	)			—				(54.9	)			(3.4	)
Amortization of prior service cost			1.3				—				—				—				—				1.3				(6.0	)
Curtailment			(2.7	)			—				—				—				—				(2.7	)			—
Net remeasurement losses (gains)			(37.2	)			6.9				(6.5	)			15.9				—				(20.9	)			(11.8	)
Net Periodic Benefit Cost (Income)		$	(40.3	)		$	8.7			$	(5.8	)		$	14.0			$	—			$	(23.4	)		$	(16.7	)

Schedule of Target Allocations for each Plan's Assets

The target allocations for each plan's assets are as follows:


		Pension
		United States of America								United Kingdom				Mexico
Target Allocations:		Bargaining Plan				Salaried Plan		Supplemental Plan		Pension Scheme				Pension Plan				Weighted Average Pension				Postretirement Plans
Equity securities			38.0	%		n/a		n/a			15.8	%			—				34.9	%			26.0	%
Debt securities			34.0	%		n/a		n/a			68.5	%			100.0	%			38.8	%			67.0	%
Other investments			28.0	%		n/a		n/a			15.7	%			—				26.3	%			7.0	%

Schedule of Allocation of Plan Assets

The following table presents the fair value hierarchy for those investments of the Company's pension assets measured at fair value on a recurring basis as of December 31, 2024:


		Total				Level 1				Level 2				Level 3
Assets:
Cash and cash equivalents		$	12.6			$	3.3			$	9.3			$	—
U.S government and agency securities			36.3				36.3				—				—
Mutual fund - equities			80.9				80.9				—				—
Mutual fund - fixed income			12.5				12.5				—				—
Mutual fund - tactical tilt			10.8				10.8				—				—
Exchange traded funds			0.5				0.5				—				—
Real estate			29.7				—				—				29.7
Private debt			22.2				—				—				22.2
Total Assets in the fair value hierarchy		$	205.5			$	144.3			$	9.3			$	51.9
Assets measured at net asset value (1)			191.1				—				—				—
Total Assets		$	396.6			$	144.3			$	9.3			$	51.9

(1) Certain assets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Such assets include common collective trusts that invest in equity securities and fixed income securities, limited partnerships, real estate partnerships, and hedge funds. As of December 31, 2024, these assets are redeemable at net asset value within 90 days, except for certain private investments with an estimated liquidation period of one to ten years.

The following table presents the fair value hierarchy for those investments of the Company's pension assets measured at fair value on a recurring basis as of December 31, 2023:


		Total				Level 1				Level 2				Level 3
Assets:
Cash and cash equivalents		$	5.8			$	—			$	5.8			$	—
U.S government and agency securities			59.8				50.7				9.1				—
Corporate bonds			39.8				—				39.8				—
Mutual fund - equities			83.3				83.3				—				—
Mutual fund - fixed income			12.2				12.2				—				—
Mutual fund - tactical tilt			10.6				10.6				—				—
Real estate			14.1				—				—				14.1
Private debt			25.7				—				—				25.7
Other			0.6				—				0.6				—
Total Assets in the fair value hierarchy		$	251.9			$	156.8			$	55.3			$	39.8
Assets measured at net asset value (1)			273.7				—				—				—
Total Assets		$	525.6			$	156.8			$	55.3			$	39.8

(1) Certain assets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Such assets include common collective trusts that invest in equity securities and fixed income securities, limited partnerships, real estate partnerships, and hedge funds. As of December 31, 2023, these assets were redeemable at net asset value within 90 days, except for certain private investments with an estimated liquidation period of one to ten years.

The following table sets forth a summary of changes in the fair value of the Company's pension plan level three assets for the year ended December 31, 2024:


		Level 3 assets only
		2024
Balance at the beginning of year		$	39.8
Transfers in and/or out of Level 3			—
Actual return on plan assets:
Realized gain (loss)			(0.4	)
Net unrealized gain (loss)			3.5
Purchases, sales, issuances and settlements:
Purchases			15.5
Sales			(6.5	)
Balance at the end of year		$	51.9

The following table presents the fair value hierarchy for those investments of the Company's postretirement assets measured at fair value on a recurring basis as of December 31, 2024:


		Total				Level 1				Level 2				Level 3
Assets:
Cash and cash equivalents		$	3.6			$	3.6			$	—			$	—
Mutual fund - equities			11.9				11.9				—				—
Mutual fund - fixed income			6.6				6.6				—				—
Mutual fund - real assets			0.9				0.9				—				—
Mutual fund - tactical tilt			2.3				2.3				—				—
Total Assets in the fair value hierarchy		$	25.3			$	25.3			$	—			$	—
Assets measured at net asset value (1)			24.1				—				—				—
Total Assets		$	49.4			$	25.3			$	—			$	—

(1) Certain assets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Such assets include common collective trusts that invest in equity securities and fixed income securities. As of December 31, 2024, these assets are redeemable at net asset value on a daily basis.

The following table presents the fair value hierarchy for those investments of the Company's postretirement assets measured at fair value on a recurring basis as of December 31, 2023:


		Total				Level 1				Level 2				Level 3
Assets:
Cash and cash equivalents		$	2.2			$	2.2			$	—			$	—
Mutual fund - equities			13.5				13.5				—				—
Mutual fund - fixed income			7.3				7.3				—				—
Mutual fund - real assets			1.1				1.1				—				—
Mutual fund - tactical tilt			2.5				2.5				—				—
Total Assets in the fair value hierarchy		$	26.6			$	26.6			$	—			$	—
Assets measured at net asset value (1)			27.2				—				—				—
Total Assets		$	53.8			$	26.6			$	—			$	—

(1) Certain assets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Such assets include common collective trusts that invest in equity securities, fixed income securities, and limited partnerships. As of December 31, 2023, these assets are redeemable at net asset value on a daily basis.

Schedule of Expected Benefit Payments

Future benefit payments are expected to be as follows:


		Pension
		United States of America												United Kingdom				Mexico
Benefit Payments:		Bargaining Plan				Salaried Plan (1)				Supplemental Plan				Pension Scheme				Pension Plan				Total Pension				Postretirement Plans
2025		$	43.5			$	—			$	0.6			$	2.8			$	—			$	46.9			$	8.8
2026			43.2				—				0.6				2.7				—				46.5				8.3
2027			47.2				—				13.0				3.2				—				63.4				7.9
2028			46.4				—				0.5				3.3				—				50.2				7.5
2029			44.3				—				0.5				3.5				—				48.3				7.2
2030-2034			196.4				—				2.0				19.5				—				217.9				32.4