Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income Taxes and Provision for Income Taxes

Income before income taxes and the provision for income taxes, for the three years ended December 31, 2025, were as follows:


(In millions)		2025				2024				2023
Income before income taxes:
U.S.		$	108.8			$	97.8			$	128.5
International			26.2				57.1				(18.8	)
Total income before income taxes		$	135.0			$	154.9			$	109.7

Income tax expense (benefit):
Current:
U.S.		$	14.5			$	26.4			$	36.5
State			1.3				2.3				1.8
International			3.9				10.8				6.5
Current income tax expense			19.7				39.5				44.8
Deferred:
U.S.		$	4.5			$	(26.9	)		$	(13.6	)
State			(0.1	)			(1.7	)			(3.4	)
International			1.5				11.9				(15.7	)
Deferred income tax benefit			5.9				(16.7	)			(32.7	)
Total income tax expense		$	25.6			$	22.8			$	12.1

Schedule of Reconciliation of the Provision for Income Taxes at the U.S. Federal Statutory Income Tax Rate to the Actual Income Tax Provision

A reconciliation of the provision for income taxes at the U.S. federal statutory income tax rate of 21.0% to the effective income tax rate, for the years ended December 31, 2025, 2024 and 2023 is as follows:


		2025								2024							2023
(Dollar amounts in millions)		Amount				Percent				Amount			Percent				Amount			Percent
U.S. Federal Statutory Tax Rate		$	28.3				21.0	%		$	32.5			21.0	%		$	23.0			21.0	%
State and local income tax, net of federal income tax effect (1)			1.2				0.9	%			0.6			0.4	%			(1.6	)		(1.5	)%
Foreign tax effects
Austria
Valuation allowance			(0.3	)			(0.2	)%			5.7			3.7	%			—			—
Foreign exchange difference			—				—				3.6			2.3	%			—			—
Other			(0.1	)			(0.1	)%			(0.1	)		(0.1	)%			(0.3	)		(0.3	)%
Belgium
Valuation allowance			2.8				2.1	%			—			—				—			—
Other			0.3				0.2	%			0.3			0.2	%			0.2			0.2	%
Morocco
Valuation allowance			(1.8	)			(1.3	)%			(0.1	)		(0.1	)%			0.3			0.3	%
Other			0.2				0.1	%			—			—				0.5			0.4	%
United Kingdom
Tax Incentives			(2.5	)			(1.9	)%			(2.6	)		(1.7	)%			(4.0	)		(3.6	)%
Pension plan settlement			—				—				—			—				(4.4	)		(4.0	)%
Other			0.4				0.3	%			0.8			0.5	%			0.9			0.8	%
Luxembourg			2.2				1.6	%			2.1			1.4	%			1.4			1.3	%
Other foreign jurisdictions			(1.2	)			(0.9	)%			1.1			0.7	%			0.8			0.7	%
Effect of changes in tax laws or rates enacted in the current period			—				—				—			—				—			—
Effect of cross-border tax laws
Foreign-derived intangible income			(1.6	)			(1.1	)%			(4.7	)		(3.0	)%			(3.9	)		(3.6	)%
Foreign currency loss			(0.2	)			(0.1	)%			(5.0	)		(3.2	)%			—			—
R&D related tax impacts			—				—				(10.2	)		(6.6	)%			—			—
Other effects of cross-border tax laws			0.3				0.2	%			0.7			0.5	%			1.1			1.0	%
Tax credits
R&D tax credits			(3.4	)			(2.5	)%			(5.4	)		(3.5	)%			(4.0	)		(3.6	)%
Changes in valuation allowances			—				—				—			—				—			—
Nontaxable or nondeductible items
Employee benefits and related			1.7				1.3	%			2.2			1.4	%			1.7			1.5	%
Other nontaxable or nondeductible items			1.0				0.7	%			1.4			0.9	%			0.9			0.8	%
Changes in unrecognized tax benefits			(1.7	)			(1.3	)%			(0.1	)		(0.1	)%			(0.5	)		(0.4	)%
Effective tax rate		$	25.6				19.0	%		$	22.8			14.7	%		$	12.1			11.0	%

(1) State taxes in Connecticut and Utah contributed to the majority of the tax effect in this category for the year ended December 31, 2025. State taxes in California and Utah contributed to the majority of the tax effect in this category for the year ended December 31, 2024. State taxes in Massachusetts and Utah contributed to the majority of the tax effect in this category for the year ended December 31, 2023.

Schedule of Income Taxes Paid (Net of Refunds Received)

The table below provides income taxes paid (net of refunds received) for the years ended December 31, 2025, 2024 and 2023:


(In millions)		2025				2024				2023
Jurisdiction
Federal		$	0.6			$	32.8			$	50.7
State
California			1.3				—				—
Connecticut			0.5				—				—
Other			0.6				2.1				3.0
Foreign
Spain			2.7				5.7				4.8
Luxembourg			0.7				—				—
Other			0.9				1.6				0.6
Total income taxes paid/(refund)		$	7.3			$	42.2			$	59.1

Schedule of Deferred Income Taxes

Principal components of deferred income taxes as of December 31, 2025 and 2024 are:


(In millions)		2025				2024
Assets
Net operating loss carryforwards		$	83.6			$	76.0
Tax credit carryforwards			11.7				10.3
Stock-based compensation			7.4				7.7
Other comprehensive income			—				1.4
Inventory reserves			7.8				10.8
Right of use liability			5.9				6.0
Capitalized research and development expenditures			41.9				43.8
Reserves and other			10.6				11.2
Subtotal			168.9				167.2
Valuation allowance			(10.7	)			(13.7	)
Total assets		$	158.2			$	153.5

Liabilities
Accelerated depreciation			(165.7	)			(164.1	)
Accelerated amortization			(23.1	)			(18.8	)
Right of use asset			(5.9	)			(6.0	)
Other			(10.8	)			(5.9	)
Total liabilities			(205.5	)		$	(194.8	)
Net deferred tax liabilities		$	(47.3	)		$	(41.3	)

Schedule of Classification of Deferred Tax Assets and Deferred Tax Liabilities in Consolidated Balance Sheets

Deferred tax assets and deferred tax liabilities as presented in the Consolidated Balance Sheets as of December 31, 2025 and 2024 are as follows and are recorded in other assets and deferred income taxes in the Consolidated Balance Sheets:


(In millions)		2025				2024
Long-term deferred tax assets, net		$	39.4			$	39.9
Long-term deferred tax liability, net			(86.7	)			(81.2	)
Net deferred tax liabilities		$	(47.3	)		$	(41.3	)

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to our unrecognized tax benefits.


		Unrecognized Tax Benefits
(In millions)		2025				2024				2023
Balance as of January 1,		$	2.8			$	2.4			$	2.5
Additions based on tax positions related to the current year			0.3				0.5				0.4
Expiration of the statute of limitations for the assessment of taxes			(1.7	)			(0.1	)			(0.5	)
Balance as of December 31,		$	1.4			$	2.8			$	2.4