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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) before Income Tax, Domestic and Foreign

The components of income (loss) before income tax for the years ended December 31, 2025, 2024 and 2023 were as follows:

(in millions)		2025				2024				2023
Domestic operations		$	(25.7	)		$	(173.0	)		$	(124.8	)
Foreign operations			74.8				85.7				111.7
Total		$	49.1			$	(87.3	)		$	(13.1	)

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income taxes computed at the U.S. federal statutory income tax rate of 21 percent to our effective income tax rate for the years ended December 31, 2025, 2024 and 2023 was as follows:

(in millions)		2025				2024				2023
Income tax at U.S. statutory rate; 21%		$	10.3			$	(18.3	)		$	(2.7	)
Unrecognized tax (benefits) expense			(1.9	)			(2.8	)			1.0
Statutory tax rate changes			4.5				—				0.4
Statutory tax law changes			—				—				(3.6	)
State, local and other tax, net of federal benefit			(1.5	)			(2.0	)			(1.3	)
Impact from foreign inclusions			4.9				0.6				(0.7	)
U.S. effect of foreign dividends and withholding taxes			5.0				4.1				3.9
Foreign income tax rate differential			(0.9	)			4.3				4.2
Global Minimum Tax			1.1				—				—
Brazilian Tax Assessments impact			(12.4	)			(1.6	)			(13.3	)
Increase in valuation allowance			3.2				2.4				5.4
General business credit			(0.5	)			(0.4	)			(2.2	)
Excess expense from stock-based compensation			1.0				1.3				0.6
Impairment of non-deductible goodwill			—				26.8				18.8
Loss on derivatives			(2.3	)			—				—
Prior period tax return adjustment			(1.3	)			0.1				(1.0	)
Other decrease			(1.4	)			(0.2	)			(0.8	)
Income taxes as reported		$	7.8			$	14.3			$	8.7
Effective tax rate			15.9	%			(16.4	)%			(66.4	)%

Under ASU 2023-09 for which the Company is adopting on a prospective basis, the reconciliation of income taxes computed at the U.S. federal statutory income tax rate of 21 percent to our effective income tax rate for the year ended December 31, 2025 was as follows:

		2025
(in millions)		Value				Percent
Income tax at U.S. statutory rate; 21%		$	10.3				21.0	%
Domestic federal income taxes, net of prior period tax return adjustments
Tax credits, net of prior period tax return adjustments
Current year foreign tax credit carried forward			(2.2	)			(4.5	)%
Other			(0.3	)			(0.6	)%
Nontaxable and nondeductible items
Other			0.3				0.6	%
Effect of cross-border tax laws, net of prior tax return adjustments
Global intangible low-taxed income, net of current year foreign tax credits			(2.3	)			(4.7	)%
Subpart F, net of current year foreign tax credits			7.6				15.5	%
Loss on derivatives			(2.3	)			(4.7	)%
Other			(0.3	)			(0.6	)%
Other adjustments
Excess expense from stock-based compensation			1.0				2.1	%
Other			0.1				0.2	%
Domestic state and local income taxes, net of federal benefit and prior period tax return adjustments(1)			(1.5	)			(3.1	)%
Foreign tax effects, net of prior period tax return adjustments
Australia
Foreign income tax rate differential			0.9				1.8	%
Brazil
Interest on net equity			(2.7	)			(5.5	)%
Withholding tax			2.0				4.1	%
Foreign income tax rate differential			0.8				1.6	%
Other			(0.2	)			(0.4	)%
Canada
Withholding tax			2.7				5.5	%
China
Change in valuation allowance			1.2				2.4	%
Other			(0.1	)			(0.2	)%
Germany
Foreign income tax rate differential			(0.8	)			(1.6	)%
Trade tax			2.2				4.5	%
Tax rate change			4.6				9.4	%
Mexico			0.6				1.2	%
Netherlands
Foreign income tax rate differential			(0.8	)			1.6	%
Other			0.1				0.2	%
Sweden			0.5				1.0	%
United Kingdom
Foreign income tax rate differential			(3.9	)			(7.9	)%
Global Minimum Tax			1.1				2.2	%
Change in valuation allowance			1.2				2.4	%
Other foreign jurisdictions			2.2				4.5	%
Worldwide changes in unrecognized tax benefits			(14.2	)			(28.9	)%
Income taxes as reported		$	7.8				15.9	%

(1)In 2025, state and local income taxes in California, Illinois, Indiana, Mississippi, New Jersey, New York, and Pennsylvania comprise the majority of the domestic state and local income taxes, net of federal effect category.

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense for the years ended December 31, 2025, 2024 and 2023 were as follows:

(in millions)		2025				2024				2023
Current expense
Federal and other		$	(0.2	)		$	(3.2	)		$	0.2
Foreign			11.5				24.4				28.6
Total current income tax expense			11.3				21.2				28.8
Deferred expense (benefit)
Federal and other		$	(5.6	)		$	(7.0	)		$	(16.7	)
Foreign			2.1				0.1				(3.4	)
Total deferred income tax (benefit) expense			(3.5	)			(6.9	)			(20.1	)
Total income tax expense		$	7.8			$	14.3			$	8.7

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets (liabilities) as of December 31, 2025 and 2024 were as follows:

(in millions)		2025				2024
Deferred tax assets
Compensation and benefits		$	19.3			$	20.3
Pension			8.7				14.4
Inventory			7.9				8.1
Other reserves			11.5				13.9
Accounts receivable			5.7				5.1
Foreign tax credit carryforwards			9.4				6.8
Net operating loss carryforwards			84.9				74.8
Interest expense carryforwards			43.3				34.1
Section 174 capitalization			15.1				16.1
General business tax credit carryforwards			2.2				1.8
Depreciation			2.1				—
Other			0.6				2.1
Gross deferred income tax assets			210.7				197.5
Valuation allowance			(67.9	)			(60.3	)
Net deferred tax assets			142.8				137.2
Deferred tax liabilities
Depreciation			—				(3.8	)
Unremitted non-U.S. earnings accrual			(3.6	)			(4.1	)
Identifiable intangibles			(155.2	)			(151.9	)
Gross deferred tax liabilities			(158.8	)			(159.8	)
Net deferred tax liabilities		$	(16.0	)		$	(22.6	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2025, 2024 and 2023 was as follows:

(in millions)		2025				2024				2023
Balance at beginning of year		$	20.7			$	28.0			$	39.1
Additions for tax positions of prior years			0.5				3.5				3.6
Reductions for tax positions of prior years			(22.1	)			(5.6	)			(17.7	)
Increase (decrease) resulting from foreign currency translation			2.1				(5.2	)			3.0
Balance at end of year		$	1.2			$	20.7			$	28.0

Summary of Reconciliation of Cash Income Taxes Paid

Under ASU 2023-09 for which the Company is adopting on a prospective basis, the reconciliation of cash income taxes paid for the year ended December 31, 2025 was as follows:

(in millions)		2025
U.S. federal		$	6.2
U.S. state and local			(0.1	)
Foreign
Brazil		$	11.2
Canada			1.9
Mexico			2.0
Spain			1.9
Germany			3.0
United Kingdom			1.9
Other			7.7
Total foreign tax payments			29.6
Total income tax payments (net of refunds)		$	35.7

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