v3.25.2
Stockholders' Equity
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Dividends
On February 21, 2025, the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.14 per common share. The dividend totaled $8.6 million and was distributed on March 27, 2025 to stockholders of record at the close of business on March 14, 2025.
On April 22, 2025, the Board declared a quarterly cash dividend of $0.14 per common share. The dividend totaled $8.5 million and was distributed on May 30, 2025 to stockholders of record at the close of business on May 16, 2025.
On July 21, 2025, the Board declared a quarterly cash dividend of $0.14 per common share payable on August 28, 2025 to stockholders of record at the close of business on August 15, 2025.
The Company paid dividends to stockholders of $7.4 million during the three months ended June 30, 2024 and $14.7 million during the six months ended June 30, 2024.
Stock Repurchase Program
In March 2020, the Board authorized a stock repurchase program (the “March 2020 program”) of up to $75 million of the Company’s common stock. During the first quarter of 2025, the Company repurchased 250,604 shares for a total of $19.7 million under the March 2020 program.
In April 2025, the Board authorized an additional stock repurchase program (the “April 2025 program”) of up to $150 million of the Company’s common stock. The April 2025 program supplements the Board’s prior authorization under the March 2020 program, which remains in effect.
During the three months ended June 30, 2025, the Company repurchased 280,893 shares for a total of $20.0 million under its stock repurchase programs.
The stock repurchase programs are intended primarily to facilitate purchases of Company stock as a means to provide cash returns to stockholders, enhance stockholder returns, and manage the Company’s capital structure. Under its stock repurchase programs, the Company is authorized to repurchase, from time to time, shares of its outstanding common stock. Stock repurchases by the Company are subject to market conditions and other factors and may be commenced, suspended, or discontinued at any time.
At the end of the second quarter of 2025, the Company had remaining authorization under its stock repurchase programs of approximately $157 million.
No shares were repurchased during the three months ended June 30, 2024. During the six months ended June 30, 2024, the Company repurchased 1,600 shares for a total of $0.1 million under the March 2020 program.
Accumulated Other Comprehensive Loss
The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the three months ended June 30, 2025 and 2024:
(in millions)Actuarial LossesPrior Service CostsForeign
Currency Translation		Interest Rate SwapsTotal
Balance at April 1, 2025 (a)
$(62.3)$(1.8)$(20.5)$(0.1)$(84.7)
Other comprehensive (loss) income before reclassifications(0.6)(0.2)13.2 — 12.4 
Amounts reclassified from accumulated other comprehensive loss0.6 0.1 — 0.1 0.8 
Net current-period other comprehensive (loss) income— (0.1)13.2 0.1 13.2 
Balance at June 30, 2025 (a)
$(62.3)$(1.9)$(7.3)$— $(71.5)
(in millions)Actuarial LossesPrior Service CostsForeign
Currency Translation		Interest Rate SwapsTotal
Balance at April 1, 2024 (a)
$(69.1)$(2.0)$(14.0)$1.0 $(84.1)
Other comprehensive (loss) income before reclassifications(0.2)— (1.4)0.4 (1.2)
Amounts reclassified from accumulated other comprehensive loss0.5 0.1 — (0.7)(0.1)
Net current-period other comprehensive income (loss)0.3 0.1 (1.4)(0.3)(1.3)
Balance at June 30, 2024 (a)
$(68.8)$(1.9)$(15.4)$0.7 $(85.4)
(a)    Amounts in parentheses indicate losses.
The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the six months ended June 30, 2025 and 2024:
(in millions)Actuarial LossesPrior Service CostsForeign
Currency Translation		Interest Rate SwapsTotal
Balance at January 1, 2025 (a)
$(62.5)$(1.8)$(24.5)$(0.2)$(89.0)
Other comprehensive (loss) income before reclassifications(0.9)(0.2)17.2 0.1 16.2 
Amounts reclassified from accumulated other comprehensive loss1.1 0.1 — 0.1 1.3 
Net current-period other comprehensive income (loss)0.2 (0.1)17.2 0.2 17.5 
Balance at June 30, 2025 (a)
$(62.3)$(1.9)$(7.3)$— $(71.5)
(in millions)Actuarial LossesPrior Service CostsForeign
Currency Translation		Interest Rate SwapsTotal
Balance at January 1, 2024 (a)
$(69.7)$(2.0)$(10.1)$0.5 $(81.3)
Other comprehensive (loss) income before reclassifications(0.1)— (5.3)1.6 (3.8)
Amounts reclassified from accumulated other comprehensive loss1.0 0.1 — (1.4)(0.3)
Net current-period other comprehensive income (loss)0.9 0.1 (5.3)0.2 (4.1)
Balance at June 30, 2024 (a)
$(68.8)$(1.9)$(15.4)$0.7 $(85.4)
(a)    Amounts in parentheses indicate losses.
The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the three months ended June 30, 2025 and 2024 and the affected line item in the Condensed Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive LossAffected Line Item in Condensed Consolidated Statements of Operations
20252024
(in millions) (a)
Amortization of actuarial losses of defined benefit pension plans$(0.8)$(0.7)Other expense, net
Amortization of prior service costs of defined benefit pension plans(0.1)(0.1)Other expense, net
Interest rate swaps(0.1)0.9 Interest expense, net
Total before tax(1.0)0.1 
Income tax benefit0.2 — Income tax expense
Total reclassifications for the period, net of tax$(0.8)$0.1 
(a)    Amounts in parentheses indicate losses.

The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the six months ended June 30, 2025 and 2024 and the affected line item in the Condensed Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive LossAffected Line Item in Condensed Consolidated Statements of Operations
20252024
(in millions) (a)
Amortization of actuarial losses of defined benefit pension plans$(1.5)$(1.4)Other expense, net
Amortization of prior service costs of defined benefit pension plans(0.1)(0.1)Other expense, net
Interest rate swaps(0.1)1.8 Interest expense, net
Total before tax(1.7)0.3 
Income tax benefit0.4 — Income tax expense
Total reclassifications for the period, net of tax$(1.3)$0.3 
(a)    Amounts in parentheses indicate losses.