v3.26.1
Shareholders' Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Cash Dividends
In the three and six months ended June 30, 2026, we paid aggregate cash dividends of $17.5 million and $34.9 million, respectively, compared to $17.6 million and $35.5 million in the three and six months ended June 30, 2025, respectively. In July 2026, we announced that our Board of Directors approved a quarterly dividend of $0.12 per share, payable in August 2026 to shareholders of record as of August 12, 2026.
Treasury Shares
From time to time, our Board of Directors has authorized various share repurchase programs, which may be modified or terminated by the Board at any time. Under these programs, we may repurchase ordinary shares at such times and in amounts to be determined by our management, based on market conditions, legal requirements, and other corporate considerations, on the open market or in privately negotiated transactions, provided that such transactions were completed pursuant to an agreement and with a third party approved by our shareholders at the annual general meeting. Ordinary shares repurchased by us are recognized, measured at cost, and presented as treasury shares on our consolidated balance sheets, resulting in a reduction of shareholders' equity. In September 2023, our Board of Directors authorized a $500.0 million ordinary share repurchase program (the “September 2023 Program”), which became effective on October 1, 2023.
In the three months ended June 30, 2026 we did not purchase any shares under our share repurchase program. In the three months ended June 30, 2025, we repurchased 0.7 million ordinary shares for $20.1 million. In the six months ended June 30, 2026 and 2025, we repurchased 0.7 million and 4.2 million ordinary shares for $25.1 million and $120.6 million, respectively. All share repurchases in the three and six months ended June 30, 2026 and 2025 were made under the September 2023 Program. As of June 30, 2026, $257.3 million remained available for repurchase under the September 2023 Program.
Accumulated Other Comprehensive Income/Loss
The following table presents the components of accumulated other comprehensive income/loss for the six months ended June 30, 2026:
Cash Flow HedgesDefined Benefit and Retiree Healthcare PlansCumulative Translation AdjustmentAccumulated Other Comprehensive Income/Loss
Balance as of December 31, 2025$0.5 $(10.3)$2.3 $(7.4)
Other comprehensive income before reclassifications, net of tax17.9 — 17.8 35.7 
Reclassifications from accumulated other comprehensive income/loss, net of tax1.9 0.0 — 1.9 
Other comprehensive income19.8 0.0 17.8 37.6 
Balance as of June 30, 2026$20.3 $(10.3)$20.1 $30.2 
The following table presents the amounts reclassified from accumulated other comprehensive income/loss for the three and six months ended June 30, 2026 and 2025:
For the three months ended June 30, For the six months ended June 30, Affected Line in Condensed Consolidated Statements of Operations
Component2026202520262025
Derivative instruments designated and qualifying as cash flow hedges:
Foreign currency forward contracts $2.8 $0.8 $7.9 $(4.3)
Net revenue (1)
Foreign currency forward contracts (4.0)4.4 (5.3)7.5 
Cost of revenue (1)
Total, before taxes(1.2)5.2 2.6 3.3 Income before taxes
Income tax effect0.3 (1.3)(0.7)(0.8)Provision for income taxes
Total, net of taxes$(0.9)$3.8 $1.9 $2.4 Net income
Defined benefit and retiree healthcare plans
Defined benefit and retiree healthcare plans$0.0 $0.0 $0.0 $0.0 Other, net
Defined benefit and retiree healthcare plans— — — 0.7 Restructuring and other charges, net
Total, before taxes0.0 0.0 0.0 0.7 
Income before taxes
Income tax effect(0.0)(0.0)(0.0)(0.2)Provision for income taxes
Total, net of taxes$0.0 $0.0 $0.0 $0.5 Net income
___________________________________
(1)    Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding amounts to be reclassified from accumulated other comprehensive income/loss in future periods.