v3.25.0.1
POST-EMPLOYMENT PLANS (Tables)
 12 Months Ended
Dec. 31, 2024
Postemployment Benefits [Abstract]  
Schedule of Contributions of the Plans
Our contributions to all of the plans were as follows (in millions):
    
Year Ended
December 31, 2024December 31, 2023December 31, 2022
$32.8 $30.2 $29.8 
Schedule of Change in the Projected Benefit Obligation and Plan Assets
The change in the projected benefit obligation and plan assets consisted of the following (in millions):
Pension BenefitsOther Benefits
Year EndedYear Ended
December 31, 2024December 31, 2023December 31, 2024December 31, 2023
Projected benefit obligation at beginning of period$151.2 $127.5 $1.8 $2.0 
Net acquisitions/(disposals)(0.5)— — — 
Service costs3.0 2.9 — — 
Interest cost5.2 5.2 0.1 0.1 
Actuarial loss (gain)(2.7)14.4 (0.6)(0.2)
Curtailment(1.2)(0.6)— — 
Contributions paid0.2 0.3 — — 
Benefits paid (3.3)(2.7)(0.1)(0.1)
Settlements(2.2)(0.7)— — 
Foreign currency translation(9.3)4.9 — — 
Projected benefit obligation at end of period$140.4 $151.2 $1.2 $1.8 
Fair value of plan assets at beginning of period150.4 134.6 — — 
Actual return on plan assets1.5 11.7 — — 
Benefits paid (3.3)(2.7)(0.1)(0.1)
Settlements(2.2)(0.7)— — 
Employer contributions3.5 2.5 0.1 0.1 
Contributions paid0.2 0.3 — — 
Foreign currency translation(9.4)4.7 — — 
Fair value of plan assets at end of period$140.7 $150.4 $— $— 
Funded/(unfunded) status$0.3 $(0.8)$(1.2)$(1.8)
Presented as:
Other non-current assets$26.5 $27.7 $— $— 
Other non-current liabilities$(26.2)$(28.5)$(1.2)$(1.8)
Schedule of Information Relates to Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets
The following information relates to pension plans with an accumulated benefit obligation in excess of plan assets (in millions):
Year Ended
December 31, 2024December 31, 2023
Accumulated benefit obligation $70.7 $75.6 
Fair value of plan assets$49.6 $52.6 
Schedule of Information Relates to Pension Plans with a Projected Benefit Obligation in Excess of Plan Assets
The following information relates to pension plans with a projected benefit obligation in excess of plan assets (in millions):
Year Ended
December 31, 2024December 31, 2023
Projected benefit obligation $75.8 $81.1 
Fair value of plan assets$49.6 $52.6 
Schedule of Unrecognized Actual Gain for the Other Benefits Liability
The following unrecognized actual gain for the other benefits liability was included in OCI, net of tax (in millions):
Year Ended
December 31, 2024December 31, 2023December 31, 2022
$0.5 $0.2 $0.9 
Schedule of Unamortized Net Actuarial Loss (Gain) in AOCI Net of Tax for Defined Benefit Pension and Other Benefits
The unamortized net actuarial loss (gain) in AOCI net of tax for defined benefit pension and other benefits was as follows (in millions):
Year Ended
December 31, 2024December 31, 2023December 31, 2022
$3.3 $2.4 $(7.1)
Schedule of Expected Benefit Payments
At December 31, 2024, the total estimated future benefit payments to be paid by the plans for the next five years is approximately $17.4 million for pension benefits and $0.6 million for other benefits as follows (in millions):

Payment DuePension BenefitsOther Benefits
2025$2.8 $0.1 
20262.7 0.1 
20273.6 0.1 
20284.1 0.1 
20294.2 0.2 
Thereafter30.5 0.5 
Schedule of Net Periodic Pension Cost
Net periodic pension cost consisted of the following (in millions):
Pension BenefitsOther Benefits
Year EndedYear Ended
December 31, 2024December 31, 2023December 31, 2022December 31, 2024December 31, 2023December 31, 2022
Service cost$3.0 $2.9 $3.3 $— $— $— 
Interest cost5.2 5.2 2.7 0.1 0.1 0.1 
Expected return on assets(6.2)(5.8)(4.9)— — — 
Settlement— (0.1)0.1 — — — 
Curtailment(1.1)(0.3)— — — — 
Net actuarial (gain)/loss(0.4)(0.5)0.1 (0.4)(1.2)(0.6)
Net periodic pension (gain)/loss$0.5 $1.4 $1.3 $(0.3)$(1.1)$(0.5)
Schedule of Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost and Benefit Obligation and Expected Weighted-Average Long-Term Rate of Return on Assets
The weighted-average assumptions used to determine net periodic pension cost and benefit obligation were:
Pension BenefitsOther Benefits
Year EndedYear Ended
December 31, 2024December 31, 2023December 31, 2022December 31, 2024December 31, 2023December 31, 2022
Discount rate3.57 %3.61 %3.92 %5.42 %4.92 %5.19 %
Inflation2.10 %2.27 %2.31 %
Expected return on assets3.10 %3.38 %2.84 %
Interest crediting rates1.38 %0.93 %0.74 %
As of December 31, 2024, the expected weighted-average long-term rate of return on assets of 3.1% was calculated based on the assumptions of the following returns for each asset class:

Equities5.9 %
Bonds2.8 %
Absolute return fund3.8 %
Insurance contracts2.8 %
Other3.7 %
Schedule of Target Asset Allocation Ranges and Fair Value of the Pension Plan Assets
Certain of our plans have target asset allocation ranges. As of December 31, 2024, these ranges were as follows:
Equities
20% - 30%
Bonds
50% - 60%
Absolute return
10% - 20%
The following table sets forth the fair value of the pension plan assets (in millions):     
Year Ended
December 31, 2024December 31, 2023
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Equities$— $22.3 $— $22.3 $— $21.5 $— $21.5 
Bonds— 49.4 — 49.4 — 54.1 — 54.1 
Insurance contracts— — 51.1 51.1 — — 54.3 54.3 
Absolute return fund— 9.2 — 9.2 — 12.1 — 12.1 
Other— 8.7 —8.7 — 8.4 — 8.4 
Total$— $89.6 $51.1 $140.7 $— $96.1 $54.3 $150.4 
Schedule of Changes in the Fair Value of the Level 3 Pension Plan Assets Measured At Fair Value on a Recurring Basis
The following table sets forth a summary of the changes in the fair value of the Level 3 pension plan assets, which were measured at fair value on a recurring basis (in millions):
Year Ended
December 31, 2024December 31, 2023
Assets at beginning of year$54.3 $46.2 
Actual return on plan assets1.3 6.2 
Purchases, sales and settlements, net(0.7)0.5 
Foreign exchange(3.8)1.4 
Assets at end of year$51.1 $54.3