v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions
Total
Unconsolidated affiliates
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Unconsolidated affiliates
Retained Earnings
Accumulated Other Comp (Loss) Earnings
Treasury Stock
Non-controlling Interests
Beginning balance, Common Stock (in shares) at Dec. 31, 2023     92,800,000            
Beginning balance, Treasury Stock (in shares) at Dec. 31, 2023               22,500,000  
Beginning balance at Dec. 31, 2023 $ 2,309.2   $ 0.0 $ 1,977.0   $ 901.3 $ (19.9) $ (533.9) $ (15.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Other comprehensive loss — unrealized gains and losses of investments in unconsolidated affiliates, net of tax (1.8) [1]           (1.8)    
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings 4.1 [2]           4.1    
Treasury stock repurchases (in shares)               10,000,000.0  
Treasury stock repurchases (231.1)             $ (231.1)  
Issuance of restricted stock and shares held in trust (in shares)     1,400,000         1,200,000  
Payment for shares withheld for taxes and in treasury (0.6)             $ (0.6)  
Stock-based compensation 11.3 $ 9.6   11.3 $ 9.6        
Treasury shares issued for investment in JANA (in shares)               1,900,000  
Treasury shares issued for investment in JANA 37.2         (6.8)   $ 44.0  
Dividends declared (7.6)         (7.6)      
Net loss (246.8)         (244.9)     (1.9)
Ending balance, Common Stock (in shares) at Jun. 30, 2024     94,200,000            
Ending balance, Treasury Stock (in shares) at Jun. 30, 2024               31,800,000  
Ending balance at Jun. 30, 2024 1,883.5   $ 0.0 1,997.9   642.0 (17.6) $ (721.6) (17.2)
Beginning balance, Common Stock (in shares) at Mar. 31, 2024     94,200,000            
Beginning balance, Treasury Stock (in shares) at Mar. 31, 2024               21,800,000  
Beginning balance at Mar. 31, 2024 2,265.1   $ 0.0 1,984.7   804.6 (16.5) $ (490.5) (17.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Other comprehensive loss — unrealized gains and losses of investments in unconsolidated affiliates, net of tax (1.1) [1]           (1.1)    
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings [2] 0.0                
Treasury stock repurchases (in shares)               10,000,000.0  
Treasury stock repurchases (231.1)             $ (231.1)  
Stock-based compensation 7.9 5.3   7.9 5.3        
Dividends declared (7.6)         (7.6)      
Net loss (155.0)         (155.0)      
Ending balance, Common Stock (in shares) at Jun. 30, 2024     94,200,000            
Ending balance, Treasury Stock (in shares) at Jun. 30, 2024               31,800,000  
Ending balance at Jun. 30, 2024 $ 1,883.5   $ 0.0 1,997.9   642.0 (17.6) $ (721.6) (17.2)
Beginning balance, Common Stock (in shares) at Dec. 31, 2024 62,789,542   94,300,000            
Beginning balance, Treasury Stock (in shares) at Dec. 31, 2024 31,538,780             31,500,000  
Beginning balance at Dec. 31, 2024 $ 1,815.3   $ 0.0 2,013.3   567.1 (19.2) $ (724.7) (21.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Other comprehensive loss — unrealized gains and losses of investments in unconsolidated affiliates, net of tax 0.5 [1]           0.5    
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings 3.2 [2]           3.2    
Treasury stock repurchases (in shares)               5,700,000  
Treasury stock repurchases (112.3)             $ (112.3)  
Issuance of restricted stock and shares held in trust (in shares)     400,000         300,000  
Vesting of shares held in trust (in shares)               (700,000)  
Payment for shares withheld for taxes and in treasury (in shares)               100,000  
Payment for shares withheld for taxes and in treasury (1.6)             $ (1.6)  
Stock-based compensation 14.9 7.2   14.9 7.2        
Other activity in non-controlling interests 0.2               0.2
Dividends declared (15.2)         (15.2)      
Net loss $ (355.5)         (351.8)     (3.7)
Ending balance, Common Stock (in shares) at Jun. 30, 2025 57,788,396   94,700,000            
Ending balance, Treasury Stock (in shares) at Jun. 30, 2025 36,911,194             36,900,000  
Ending balance at Jun. 30, 2025 $ 1,356.7   $ 0.0 2,035.4   200.1 (15.5) $ (838.6) (24.7)
Beginning balance, Common Stock (in shares) at Mar. 31, 2025     94,700,000            
Beginning balance, Treasury Stock (in shares) at Mar. 31, 2025               31,900,000  
Beginning balance at Mar. 31, 2025 1,696.7   $ 0.0 2,021.0   446.5 (21.3) $ (726.3) (23.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Other comprehensive loss — unrealized gains and losses of investments in unconsolidated affiliates, net of tax 2.8 [1]           2.8    
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings 3.0 [2]           3.0    
Treasury stock repurchases (in shares)               5,700,000  
Treasury stock repurchases (112.3)             $ (112.3)  
Vesting of shares held in trust (in shares)               (700,000)  
Stock-based compensation 11.2 $ 3.2   11.2 $ 3.2        
Other activity in non-controlling interests 0.2               0.2
Dividends declared (7.6)         (7.6)      
Net loss $ (240.5)         (238.8)     (1.7)
Ending balance, Common Stock (in shares) at Jun. 30, 2025 57,788,396   94,700,000            
Ending balance, Treasury Stock (in shares) at Jun. 30, 2025 36,911,194             36,900,000  
Ending balance at Jun. 30, 2025 $ 1,356.7   $ 0.0 $ 2,035.4   $ 200.1 $ (15.5) $ (838.6) $ (24.7)
[1] Net of income tax expense (benefit) of $0.7 million and $(0.3) million for the three months ended June 30, 2025 and 2024, respectively, and $0.1 million and $(0.5) million for the six months ended June 30, 2025 and 2024, respectively.
[2] Net of income tax expense of $0.8 million for the three months ended June 30, 2025 and $0.9 million and $1.1 million for the six months ended June 30, 2025 and 2024, respectively.