v3.26.1
Financial Instruments and Fair Value Measurement (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Derivatives Instruments
The following table summarizes outstanding financial instruments that are measured at fair value on a recurring basis:
March 31, 2026December 31, 2025Balance Sheet Classification
Notional AmountFair ValueNotional AmountFair Value
(In millions)
Assets
Derivatives designated as hedges:
Cross currency swaps$197.0 $16.5 $197.0 $12.2 Other financial assets (non-current)
Interest rate swaps230.0 4.2 235.0 1.8 Other financial assets (non-current)
Total$427.0 $20.7 $432.0 $14.0 
The following tables summarize the pre-tax effect of derivative and non-derivative instruments recorded in Accumulated other comprehensive income (loss) (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings:
Effect of Financial Instruments
Three Months Ended Mar 31,
Gain (Loss) Recognized in AOCIGain (Loss) Reclassified from AOCI to IncomeIncome Statement Classification
2026202520262025
(In millions)
Derivatives designated as hedges:
Cross currency swaps$0.1 $(2.0)$(0.3)$(0.3)Interest and other financial expense, net
Interest rate swaps2.4 — — — Interest and other financial expense, net
Total$2.5 $(2.0)$(0.3)$(0.3)
Schedule of Fair Value Measurements Not Recurring
The following table presents the carrying value and estimated fair value of our financial instruments that are not measured at fair value on a recurring basis for the periods presented. Short-term and Long-term debt are recorded at amortized cost in the Condensed Consolidated Balance Sheets.
March 31, 2026December 31, 2025
Notional AmountFair ValueNotional AmountFair Value
(In millions)
Non-derivatives:
Liabilities:
Term-Loan$624.8 $532.7 $639.7 $582.8 
China Term-Loan53.1 53.6 52.4 52.9 
Total$677.9 $586.3 $692.1 $635.7