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PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
PREFERRED SSTOCK AND COMMON SHAREHOLDERS' EQUITY PREFERRED STOCK AND COMMON SHAREHOLDERS’ EQUITY
The Company is authorized to issue up to 265.0 shares of its common stock, par value $0.10 per share (Common Stock). The Company is authorized to issue up to 30.0 shares of preferred stock, par value $0.10 per share. There were no preferred shares outstanding at June 30, 2025, and December 31, 2024.
The changes in the Company’s shares of Common Stock issued and outstanding are summarized below:
Six Months Ended June 30, 2025
Beginning balance83.4 
      Shares issued under employee stock plans0.3 
      Shares repurchased(0.8)
Ending balance
82.9 
Share Repurchase Program
When the Company repurchases shares of Common Stock, the amount paid to repurchase the shares in excess of the par or stated value is allocated to Additional paid-in-capital within the Condensed Consolidated Balance Sheets unless subject to limitation or the balance in Additional paid-in-capital is exhausted. Remaining amounts are recognized as a reduction in Retained earnings within the Company’s Condensed Consolidated Balance Sheets.
During the six months ended June 30, 2025, the Company purchased 0.8 shares of its Common Stock at an average price of $246.18 per share for a total cost of $200.0. During the six months ended June 30, 2024, the Company purchased 0.5 shares of its Common Stock at an average price of $202.66 per share for a total cost of $100.0.
At June 30, 2025, the Company had outstanding authorization from its board of directors (Board) to purchase up to $1,080.4 maximum value of Common Stock.
Dividends
During each of the three months ended June 30, 2025, and 2024, and each of the six months ended June 30, 2025, and 2024, a cash dividend of $0.72 and $1.44 per share of Common Stock, respectively, was declared and paid.
On July 10, 2025, the Company announced a cash dividend of $0.72 per share of Common Stock, or approximately $60.6 in the aggregate. The dividend will be paid on September 11, 2025, to stockholders of record of all issued and outstanding shares of Common Stock as of the close of business on August 28, 2025. The declaration and payment of any future dividends will be at the discretion of the Board.
Accumulated Other Comprehensive Earnings (Loss)
The components of Accumulated other comprehensive earnings (loss) were as follows:
Foreign Currency Translation AdjustmentsNet Benefit Plan AdjustmentsAccumulated Other Comprehensive Earnings (Loss)
Balance at December 31, 2024$(264.7)$3.1 $(261.6)
  Current year adjustments226.3 0.9 227.2 
  Tax effect of adjustments— (0.2)(0.2)
Balance at June 30, 2025$(38.4)$3.8 $(34.6)