v3.26.1
Affiliated Companies
 6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Affiliated Companies Affiliated Companies
The following table summarizes the aggregate carrying amounts of our investments in affiliated companies that are accounted for under the equity method and our investments in affiliated companies that are not accounted for under the equity method:
June 30,December 31,
($ in millions)20262025
Aggregate carrying value of investments in affiliated companies:
   Equity method affiliates$207.1 $208.3 
   Non-equity method affiliates0.6 4.0 
Total investments in affiliated companies$207.7 $212.3 
We have elected to record non-equity method investments, for which fair value was not readily determinable, at cost, less impairment, adjusted for subsequent observable price changes. We test these investments for impairment whenever circumstances indicate that the carrying value of the investments may not be recoverable. During the three and six months ended June 30, 2026, we recorded impairment charges of $3.5 million within other expense (income) to one of our cost-method investments, recorded above under non-equity method affiliates.
The following table summarizes the amounts due to and from affiliates in the condensed consolidated balance sheets:
June 30,December 31,
($ in millions)20262025
Payables due to affiliates$27.2 $26.2 
Receivables due from affiliates$2.7 $2.0 
The following table summarizes the Company's affiliate transactions:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Purchases from (and payments to) affiliates$34.3 $30.2 $68.3 $57.9 
Sales to affiliates$4.5 $2.8 $7.7 $6.0 
The majority of the purchase transactions listed above relate to the Company's distributorship agreement with Daikyo Seiko, Ltd. ("Daikyo") that authorizes the Company as the exclusive distributor of Daikyo products in all countries other than Japan, subject to certain limited exceptions.
Subsequent Event
On July 14, 2026, the Company and Daikyo, in which the Company maintains a 49% ownership interest, entered into an Amended and Restated Technology Exchange and Crosslicense Agreement and two Distributorship Agreements, each effective July 14, 2026 with a term of ten years. For additional information regarding the agreements, see the Company's Current Report on Form 8-K filed with the SEC on July 14, 2026. The Company determined that no adjustment to the accompanying unaudited condensed consolidated financial statements was required as of June 30, 2026.