v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Tax
Income before income taxes consisted of the following for the years ended December 31 (in millions):
202520242023
Domestic$132.1 $118.1 $90.1 
Foreign11.1 7.6 6.4 
Total$143.2 $125.7 $96.5 
Schedule of Components of Income Tax Expense (Benefit) from Continuing Operations
The components of income tax expense for the years ended December 31 are as follows (in millions):
 202520242023
Current:   
Federal$22.1 $32.0 $22.6 
State10.2 14.7 11.2 
Foreign2.8 2.4 1.6 
Total current expense (benefit)35.1 49.1 35.4 
Deferred:   
Federal2.0 (9.9)(6.3)
State(0.5)— 0.5 
Foreign— (0.3)(0.2)
Total deferred expense (benefit)1.5 (10.2)(6.0)
Total tax expense (benefit)$36.6 $38.9 $29.4 
Schedule of Cash Flow, Supplemental Disclosures
The income tax paid, net of refunds, by the Company for the years ended December 31 are as follows (in millions):

202520242023
Federal
$22.1 $32.0 $25.9 
State
9.1 14.5 12.3 
Foreign
3.0 2.0 (0.4)
Total$34.2 $48.5 $37.8 
Income taxes paid, net of refunds, exceed five percent of total income taxes paid (net) in the following jurisdictions (in millions):

202520242023
State:
Massachusetts
$5.0 $9.1 $7.4 
Schedule of Reconciliation of Statutory and Effective Income Tax Rates for Continuing Operations
The differences between income taxes expected at the U.S. federal statutory income tax rate and income taxes reported for the years ended December 31 are as follows (in millions):
 202520242023
$%$%$%
Tax at U.S. federal statutory income tax rate$30.1 21.0 %$26.4 21.0 %$20.3 21.0 %
State income taxes, net of federal benefit7.7 5.5 %11.3 9.0 %5.6 5.8 %
Foreign Tax Effects
Other foreign jurisdictions0.7 0.5 %0.4 0.3 %— — %
Effective of change in tax laws or rates enacted in the current period— — %— — %3.3 3.5 %
Effect of cross-border tax laws0.7 0.5 %0.9 0.8 %0.6 0.6 %
Nontaxable or nondeductible items
Executive Compensation
2.2 1.5 %0.3 0.2 %0.2 0.2 %
Other
(0.1)(0.1)%(0.3)(0.2)%(0.4)(0.4)%
Changes in unrecognized tax benefits
(0.1)(0.1)%0.3 0.2 %0.2 0.2 %
Other Adjustments
Non-controlling interest(5.6)(3.9)%(0.4)(0.3)%(0.3)(0.3)%
Other1.0 0.7 %— — %(0.1)(0.1)%
Effective income tax rate$36.6 25.6 %$38.9 31.0 %$29.4 30.5 %
Significant Components of Deferred Tax Assets and Deferred Tax Liabilities
The significant components of deferred tax assets and deferred tax liabilities for the years ended December 31 are as follows (in millions):
 20252024
Deferred tax assets:  
Investment in partnerships74.1 73.4 
Employee compensation1.2 1.3 
Other3.0 2.6 
Cash flow hedge— 1.6 
Total deferred tax assets78.3 78.9 
Valuation allowance— — 
Deferred tax assets, net of valuation allowance78.3 78.9 
Deferred tax liabilities:  
Other
0.8 0.6 
Total deferred tax liabilities0.8 0.6 
Net deferred tax assets$77.5 $78.3 
Schedule of Reconciliation of Change in Gross Unrecognized Tax Benefits
A reconciliation of the change in gross unrecognized tax benefits for the years ended December 31 is as follows (in millions):
 202520242023
Balance as of January 1$1.3 $1.1 $0.9 
Additions based on current year tax positions0.4 0.3 0.7 
Reductions related to lapses of statutes of limitations(0.6)(0.1)(0.5)
Balance as of December 31$1.1 $1.3 $1.1