v3.26.1
PREFERRED STOCK AND COMMON SHAREHOLDERS’ EQUITY
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY PREFERRED STOCK AND COMMON SHAREHOLDERS’ EQUITY
The Company is authorized to issue up to 265.0 shares of common stock, par value $0.001 per share. The Company is authorized to issue up to 30.0 shares of preferred stock, par value $0.001 per share. There were no preferred shares outstanding as of June 30, 2026 and December 31, 2025.
Stockholder Rights Plan
On June 11, 2025, the Company’s Board of Directors adopted a limited duration stockholder rights plan (the “Rights Agreement”). Pursuant to the Rights Agreement, on June 11, 2025, the Company’s Board of Directors declared a dividend of one preferred share purchase right (a “Right”) for each share of common stock, par value $0.001 per share, of the Company (the “Common Shares”) outstanding on June 23, 2025 to the stockholders of record on that date. Each Right entitles the registered holder to purchase from the Company one one thousandth of a share of Series A Preferred Stock, par value $0.001 per share, of the Company (the “Preferred Shares”) at a price of $50.00 per one one thousandth of a Preferred Share represented by a Right, subject to adjustment.
The Rights Agreement expired in accordance with its terms at the close of business on June 10, 2026.
Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss are as follows:
Foreign Currency Translation AdjustmentsNet Benefit Plan AdjustmentsUnrealized Gain (Loss) on Derivative InstrumentsAccumulated Other Comprehensive Loss
Balance at December 31, 2025$(163.8)$(5.3)$(0.9)$(170.0)
Current quarter foreign exchange adjustments(25.9)— — (25.9)
Unrealized gain on derivative instruments— — 0.4 0.4 
Amounts reclassified from accumulated other comprehensive loss— — 0.2 0.2 
Tax effect of adjustments— — (0.1)(0.1)
Balance at March 31, 2026(189.7)(5.3)(0.4)(195.4)
Current quarter foreign exchange adjustments(1.3)— — (1.3)
Unrealized gain on derivative instruments— — 0.1 0.1 
Amounts reclassified from accumulated other comprehensive loss— — 0.2 0.2 
Tax effect of adjustments— — (0.1)(0.1)
Balance at June 30, 2026$(191.0)$(5.3)$(0.2)$(196.5)
Foreign Currency Translation AdjustmentsNet Benefit Plan AdjustmentsUnrealized Gain (Loss) on Derivative Instruments
Accumulated Other Comprehensive Loss
Balance at December 31, 2024$(276.0)$(6.5)$(0.4)$(282.9)
Current quarter foreign exchange adjustments45.2 — — 45.2 
Unrealized loss on derivative instruments— — (0.7)(0.7)
Amounts reclassified from accumulated other comprehensive loss— — — — 
Tax effect of adjustments— — 0.2 0.2 
Balance at March 31, 2025(230.8)(6.5)(0.9)(238.2)
Current quarter foreign exchange adjustments82.8 — — 82.8 
Unrealized loss on derivative instruments— — (0.1)(0.1)
Amounts reclassified from accumulated other comprehensive loss— — (0.1)(0.1)
Tax effect of adjustments— — — — 
Balance at June 30, 2025$(148.0)$(6.5)$(1.1)$(155.6)