v3.25.4
Pension and Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Summary Of Benefit Obligations, Fair Value Of Plan Assets And Funded Status
A summary of the projected benefit obligations, fair value of plan assets and funded status is as follows:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2025202420252024
Change in benefit obligation:
Benefit obligation at beginning of year$693.4 $759.3 $2.5 $3.0 
Service cost3.5 3.6 — — 
Interest cost35.1 34.5 0.1 0.1 
Amendments0.7 0.2 — — 
Actuarial (gain) loss (1.4)(51.5)0.2 (0.2)
Settlements(0.1)(0.5)— — 
Benefits paid(47.5)(45.3)(0.4)(0.4)
Foreign currency exchange and other17.8 (6.3)— — 
Curtailment and settlement loss from discontinued operations— 0.3 — — 
Administrative expenses paid (0.6)(0.9)— — 
Benefit obligation at end of year$700.9 $693.4 $2.4 $2.5 
Change in plan assets:
Fair value of plan assets at beginning of year$675.4 $692.4 $— $— 
Actual return on plan assets69.6 18.1 — — 
Employer contributions16.5 16.6 0.4 0.4 
Settlements(0.1)(0.5)— — 
Benefits paid(47.5)(45.3)(0.4)(0.4)
Foreign currency exchange and other17.4 (5.0)— — 
Administrative expenses paid(0.6)(0.9)— — 
Fair value of plan assets at end of year$730.7 $675.4 $— $— 
Funded status$29.8 $(18.0)$(2.4)$(2.5)
Schedule Of Amounts Recognized In Consolidated Balance Sheets
Amounts recognized on our Consolidated Balance Sheets consist of:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2025202420252024
Other assets$71.3 $49.7 $— $— 
Current liabilities(1.8)(1.5)(0.3)(0.4)
Accrued pension and postretirement benefits(39.7)(66.2)(2.1)(2.1)
Funded status$29.8 $(18.0)$(2.4)$(2.5)
Schedule Of Amounts Recognized In Accumulated Other Comprehensive (Income) Loss
Amounts recognized in accumulated other comprehensive loss consist of:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2025202420252024
Net actuarial loss (gain)$281.8 $315.6 $(1.8)$(2.4)
Prior service cost (credit)6.6 6.3 — — 
Total recognized in accumulated other comprehensive loss$288.4 $321.9 $(1.8)$(2.4)
Schedule Of Accumulated And Projected Benefit Obligations
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the U.S. and Non-U.S. plans, are as follows:
 Pension Obligations/Assets
 U.S.Non-U.S.Total
(in millions) December 31,202520242025202420252024
Projected benefit obligation$477.7 $477.3 $223.2 $216.2 $700.9 $693.5 
Accumulated benefit obligation477.7 477.3 220.8 213.5 698.5 690.8 
Fair value of plan assets479.2 443.5 251.5 231.9 730.7 675.4 
Schedule of Pensions Plans with Projected Benefit Obligation in Excess of Plan Assets
Information for pension plans with a projected benefit obligation in excess of plan assets is as follows:

(in millions) December 31,20252024
Projected benefit obligation$44.0 $513.5 
Fair value of plan assets$2.5 $445.8 
Schedule Of Information For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets
Information for pension plans with an accumulated benefit obligation in excess of plan assets is as follows:
(in millions) December 31,20252024
Accumulated benefit obligation$39.8 $509.0 
Fair value of plan assets$— $443.6 
Components Of Net Periodic Cost
Components of net periodic cost (benefit) are as follows:
Pension BenefitsPostretirement Benefits
(in millions) For the year ended December 31,202520242023202520242023
Net Periodic (Benefit) Cost:
Service cost$3.5 $3.6 $3.3 $— $— $— 
Interest cost35.1 34.5 35.9 0.1 0.1 0.2 
Expected return on plan assets(44.8)(49.9)(46.1)— — — 
Amortization of prior service cost0.7 0.7 0.7 — — — 
Amortization of net loss (gain)14.2 15.1 15.5 (0.4)(0.4)(0.2)
Curtailment and settlement loss from discontinued operations— 0.3 1.9 — — — 
Net periodic cost (benefit) (a)
$8.7 $4.3 $11.2 $(0.3)$(0.3)$— 
(a) Includes $0.8 million and $2.3 million of pension net periodic loss related to discontinued operations for the years ended December 31, 2024, and 2023, respectively.
Schedule Of Weighted Average Assumptions Used To Determine Benefit Obligation And Net Periodic Benefit Cost
The weighted average assumptions used to determine benefit obligations are as follows:
Pension BenefitsPostretirement Benefits
For the year ended December 31,202520242023202520242023
U.S. Plans:
Discount rate5.40 %5.63 %5.07 %5.20 %5.50 %5.00 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
Interest credit rate4.14 %4.39 %4.02 %N/AN/AN/A
Non-U.S. Plans:
Discount rate5.22 %5.07 %4.29 %N/AN/AN/A
Rate of compensation increase3.36 %3.28 %3.69 %N/AN/AN/A
Interest credit rateN/AN/AN/AN/AN/AN/A
The weighted-average assumptions used to determine net periodic benefit cost are as follows:
Pension BenefitsPostretirement Benefits
For the year ended December 31,202520242023202520242023
U.S. Plans:
Discount rate5.63 %5.07 %5.43 %5.50 %5.00 %5.40 %
Expected rate of return on plan assets7.25 %8.25 %8.25 %N/AN/AN/A
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
Interest credit rate4.39 %4.02 %3.62 %N/AN/AN/A
Non-U.S. Plans:
Discount rate5.07 %4.29 %4.61 %N/AN/AN/A
Expected rate of return on plan assets5.68 %6.21 %5.91 %N/AN/AN/A
Rate of compensation increase3.28 %3.69 %3.72 %N/AN/AN/A
Interest credit rateN/AN/AN/AN/AN/AN/A
Schedule Of Health Care Cost Trend Rates
The assumed health care cost trend rates are as follows:
December 31,20252024
Health care cost trend rate assumed for next year7.00 %7.25 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.50 %4.50 %
Year that the rate reaches the ultimate trend rate20352035
Schedule Of Pension Plan Target Allocations And Weighted-Average Asset Allocations
Our pension plan target allocations and weighted-average asset allocations by asset category are as follows:
  Target AllocationActual Allocation
Asset Category December 31,20252024
Equity securities
15%-55%
31 %34 %
Fixed income securities
30%-75%
54 %49 %
Alternative assets/Other
0%-30% 
12 %14 %
Cash and money market
0%-10%
3 %3 %
Schedule Of Fair Value Of Company Pension Plan Assets
The fair value of our pension plan assets as of December 31, 2025, by asset category, are as follows:
(in millions)Active
Markets
for
Identical
Assets
Level 1		Other
Observable
Inputs
Level 2		Unobservable
Inputs
Level 3
Net Asset Value ("NAV") Practical Expedient (a)
Total
Fair Value
Cash Equivalents and Money Markets$21.3 $— $— $— $21.3 
Common Stocks
Actively Managed U.S. Equities29.0 — — — 29.0 
Commingled and Mutual Funds
U.S. Equity Funds110.9 — — — 110.9 
Non-U.S. Equity Funds65.0 — — 18.3 83.3 
U.S. Fixed Income, Government and Corporate227.4 — — — 227.4 
Registered Investment Company25.2 — — — 25.2 
Non-U.S. Fixed Income, Government and Corporate— — — 169.4 169.4 
Property Funds14.6 — — — 14.6 
Alternative Investments
Insurance / Annuity Contract(s)— 2.5 — — 2.5 
Hedge Funds and LDI— — — 31.8 31.8 
International Property Funds— — — 15.3 15.3 
Total Fair Value$493.4 $2.5 $— $234.8 $730.7 
(a) Investments are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy.
The fair value of our pension plan assets as of December 31, 2024, by asset category, are as follows:
(in millions)Active
Markets
for
Identical
Assets
Level 1		Other
Observable
Inputs
Level 2		Unobservable
Inputs
Level 3
Net Asset Value ("NAV") Practical Expedient (a)
Total
Fair Value
Cash Equivalents and Money Markets$20.5 $— $— $— $20.5 
Common Stocks
Actively Managed U.S. Equities34.6 — — — 34.6 
Commingled and Mutual Funds
U.S. Equity Funds116.9 — — — 116.9 
Non-U.S. Equity Funds64.5 — — 16.7 81.2 
U.S. Fixed Income, Government and Corporate172.6 — — — 172.6 
Registered Investment Company22.9 — — — 22.9 
Non-U.S. Fixed Income, Government and Corporate— — — 156.9 156.9 
Property Funds18.4 — — — 18.4 
Alternative Investments
Insurance / Annuity Contract(s)— 2.1 — — 2.1 
Hedge Funds and LDI— — — 28.8 28.8 
International Property Funds— — — 20.5 20.5 
Total Fair Value$450.4 $2.1 $— $222.9 $675.4 
(a) Investments are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy.
Summary Of Estimated Future Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Estimated future payments (in millions)Pension
Benefits		Postretirement Benefits
2026$53.6 $0.4 
202754.0 0.4 
202855.3 0.3 
202952.5 0.2 
203052.4 0.2 
2031 to 2035256.6 0.9 
Total payments$524.4 $2.4