Provision for Income Taxes (Tables)

6 Months Ended

Jun. 30, 2026

Components of provision for income taxes

The components of provision for income taxes are as follows (in millions):


	Three Months Ended June 30,					Six Months Ended June 30,
	2026		2025			2026		2025
Income tax provision (benefit)	$	14.2	$	(3.1	)	$	16.7	$	5.6
Effective tax rates (a)	Not meaningful		Not meaningful			Not meaningful			21.9	%
Penalties and interest (recorded in provision for income taxes for unrecognized tax benefits)	$	0.4	$	0.8		$	0.8	$	1.2

(a)

The Company recorded an income tax provision for the three and six months ended June 30, 2026, despite an operating net loss. The tax expense for the quarter was adversely affected by nondeductible goodwill impairment charges recorded in the Company’s BSB and CST reporting units, which created permanent tax differences (refer to Note 5, Goodwill and Intangible Assets, for more information).

Components of unrecognized tax benefits and accrued interest and penalties

The table below summarizes unrecognized tax benefits and accrued interest and penalties components (in millions):


	June 30, 2026		December 31, 2025
Unrecognized tax benefits (a)	$	82.5	$	72.8
Accrued interest and penalties (b)	$	7.1	$	6.4

(a)

This excludes penalties and interest. If these unrecognized tax benefits were recognized, there would be a reduction of the Company's effective tax rate.

(b)

These are related to uncertain tax positions and were included in other long-term liabilities on the Company's unaudited condensed consolidated balance sheets.