v3.25.2
Shareholders' Equity (Tables)
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Schedule of Stockholders Equity
The quarterly changes in shareholders' equity during the six months ended June 30, 2025 are as follows:
Common StockAdditional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (loss)Treasury StockTotal Shareholders' Equity
(in millions, except per share data)SharesAmount
Balance, December 31, 2024
21.0 $0.2 $319.4 $1,175.6 $(65.4)$(1.2)$1,428.6 
Net income— — — 24.5 — — 24.5 
Other comprehensive income— — — — 13.5 — 13.5 
Dividends ($0.31 per share)
— — — (6.6)— — (6.6)
Incentive plan activity— — 1.8 — — — 1.8 
Balance, March 31, 2025
21.0 $0.2 $321.2 $1,193.5 $(51.9)$(1.2)$1,461.8 
Net income— — — 26.4 — — 26.4 
Other comprehensive income— — — — 10.4 — 10.4 
Dividends ($0.31 per share)
— — — (6.5)— (6.5)
Incentive plan activity— — 4.0 — — — 4.0 
Balance, June 30, 2025
21.0 $0.2 $325.2 $1,213.4 $(41.5)$(1.2)$1,496.1 
The quarterly changes in shareholders' equity during the six months ended June 30, 2024 are as follows:
Common StockAdditional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive LossTreasury StockTotal Shareholders' EquityRedeemable Non-controlling Interests
(in millions, except per share data)SharesAmount
Balance, December 31, 2023
21.0 $0.2 $304.9 $1,128.0 $(22.2)$(1.2)$1,409.7 $17.9 
Net income— — — 12.5 — — 12.5 — 
Other comprehensive loss— — — — (3.5)— (3.5)— 
Dividends ($0.30 per share)
— — — (6.3)— — (6.3)— 
Incentive plan activity— — 1.5 — — — 1.5 — 
Acquisition of Alluxa non-controlling interests— — — — — — — (17.9)
Balance, March 31, 2024
21.0 $0.2 $306.4 $1,134.2 $(25.7)$(1.2)$1,413.9 $— 
Net income— — — 26.7 — — 26.7 — 
Other comprehensive loss— — — — (8.1)— (8.1)— 
Dividends ($0.30 per share)
— — — (6.3)— (6.3)— 
Incentive plan activity— — 4.2 — — — 4.2 — 
Balance, June 30, 2024
21.0 $0.2 $310.6 $1,154.6 $(33.8)$(1.2)$1,430.4 $— 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The following assumptions were used to estimate the fair value of the 2025 option awards:
Average expected term6 years
Expected volatility40.49 %
Risk-free interest rate4.17 %
Expected dividend yield0.62 %