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Equity | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Equity | 15. Equity Authorized capital consists of 75.0 million shares of $0.01 par value common stock and 3.5 million shares of $0.01 par value preferred stock. None of the preferred shares have been issued. As of September 30, 2025, the Company has $29.3 million re maining under an authorization from the Board of Directors to purchase up to $35.0 million of the Company’s common stock at management’s discretion. A reconciliation of the changes in accumulated other comprehensive income (loss), net of income tax, by component for the three months ended September 30, 2025 and 2024 are summarized as follows:
|  | Cash Flow Hedges |  |  | Pension & Postretirement |  |  | Foreign Currency Translation |  |  | Total |
Balance as of June 30, 2024 |  | $ | (0.6 | ) |  | $ | (10.2 | ) |  | $ | (89.7 | ) |  | $ | (100.5 | )
Other comprehensive income (loss) before reclassifications |  |  | 1.9 |  |  |  | (0.7 | ) |  |  | 19.0 |  |  |  | 20.2 |
Amounts reclassified from accumulated other comprehensive loss |  |  | (0.5 | ) |  |  | 0.2 |  |  |  | — |  |  |  | (0.3 | )
Net other comprehensive income (loss) |  |  | 1.4 |  |  |  | (0.5 | ) |  |  | 19.0 |  |  | $ | 19.9 |
Balance as of September 30, 2024 |  | $ | 0.8 |  |  | $ | (10.7 | ) |  | $ | (70.7 | ) |  | $ | (80.6 | )
Balance as of June 30, 2025 |  | $ | 3.1 |  |  | $ | (8.8 | ) |  | $ | (58.3 | ) |  | $ | (64.0 | )
Other comprehensive income (loss) before reclassifications |  |  | (0.4 | ) |  |  | 0.2 |  |  |  | (2.8 | ) |  |  | (3.0 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | (1.6 | ) |  |  | (0.1 | ) |  |  | — |  |  |  | (1.7 | )
Net other comprehensive income (loss) |  |  | (2.0 | ) |  |  | 0.1 |  |  |  | (2.8 | ) |  |  | (4.7 | )
Balance as of September 30, 2025 |  | $ | 1.1 |  |  | $ | (8.7 | ) |  | $ | (61.1 | ) |  | $ | (68.7 | )
A reconciliation of the changes in accumulated other comprehensive income (loss), net of income tax, by component for the nine months ended September 30, 2025 and 2024 are summarized as follows:
|  | Cash Flow Hedges |  |  | Pension & Postretirement |  |  | Foreign Currency Translation |  |  | Total |
Balance as of December 31, 2023 |  | $ | 1.3 |  |  | $ | (10.3 | ) |  | $ | (77.4 | ) |  | $ | (86.4 | )
Other comprehensive income (loss) before reclassifications |  |  | (1.3 | ) |  |  | (0.7 | ) |  |  | 6.7 |  |  |  | 4.7 |
Amounts reclassified from accumulated other comprehensive loss |  |  | 0.8 |  |  |  | 0.3 |  |  |  | — |  |  |  | 1.1 |
Net other comprehensive income (loss) |  |  | (0.5 | ) |  |  | (0.4 | ) |  |  | 6.7 |  |  |  | 5.8 |
Balance as of September 30, 2024 |  | $ | 0.8 |  |  | $ | (10.7 | ) |  | $ | (70.7 | ) |  | $ | (80.6 | )
Balance as of December 31, 2024 |  | $ | (1.7 | ) |  | $ | (7.7 | ) |  | $ | (98.2 | ) |  | $ | (107.6 | )
Other comprehensive income (loss) before reclassifications |  |  | 5.1 |  |  |  | (0.9 | ) |  |  | 37.1 |  |  |  | 41.3 |
Amounts reclassified from accumulated other comprehensive loss |  |  | (2.3 | ) |  |  | (0.1 | ) |  |  | — |  |  |  | (2.4 | )
Net other comprehensive income (loss) |  |  | 2.8 |  |  |  | (1.0 | ) |  |  | 37.1 |  |  |  | 38.9 |
Balance as of September 30, 2025 |  | $ | 1.1 |  |  | $ | (8.7 | ) |  | $ | (61.1 | ) |  | $ | (68.7 | )
A reconciliation of the reclassifications from accumulated other comprehensive loss, net of income tax, for the three and nine months ended September 30, 2025 and 2024 are summarized as follows:
|  | Amount Reclassified out of Accumulated Other Comprehensive Loss |  |  |  |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |  |  |  |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  |  | Recognized Location
Gains (losses) on cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FX Forward Contracts |  | $ | 2.2 |  |  | $ | 0.5 |  |  | $ | 3.1 |  |  | $ | (0.8 | ) |  |  | Cost of sales
Total before income taxes |  |  | 2.2 |  |  |  | 0.5 |  |  |  | 3.1 |  |  |  | (0.8 | ) |  |  |
Provision for income taxes |  |  | (0.6 | ) |  |  | — |  |  |  | (0.8 | ) |  |  | — |  |  |  |
Total, net of income taxes |  | $ | 1.6 |  |  | $ | 0.5 |  |  | $ | 2.3 |  |  | $ | (0.8 | ) |  |  |
Amortization of pension and postretirement items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Actuarial gains (losses) |  | $ | 0.1 |  |  | $ | (0.2 | ) |  | $ | 0.1 |  |  | $ | (0.3 | ) | (a) |  | Other expense - net
Total before income taxes |  |  | 0.1 |  |  |  | (0.2 | ) |  |  | 0.1 |  |  |  | (0.3 | ) |  |  |
Provision for income taxes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |
Total, net of income taxes |  | $ | 0.1 |  |  | $ | (0.2 | ) |  | $ | 0.1 |  |  | $ | (0.3 | ) |  |  |
Total reclassifications for the period, net of income taxes |  | $ | 1.7 |  |  | $ | 0.3 |  |  | $ | 2.4 |  |  | $ | (1.1 | ) |  |  |
(a) These accumulated other comprehensive loss components are components of net periodic pension cost (see Note 20, “Employee Benefit Plans,” for additional information).

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