v3.26.1
Derivatives and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Derivative Instruments, Gain (Loss) The tables below show the amounts of pretax gains and losses related to the Company’s derivatives and their classification within the accompanying unaudited condensed consolidated statements of operations.
Three Months Ended June 30, 2026
Total loss recognized in incomeGain realized in income on derivativesUnrealized loss recognized in income on derivatives
Derivative InstrumentClassification
(Dollars in millions)
Foreign currency option contractsOperating costs and expenses$(1.7)$2.2 $(3.9)
Total$(1.7)$2.2 $(3.9)
Three Months Ended June 30, 2025
Total gain recognized in incomeLoss realized in income on derivativesUnrealized gain recognized in income on derivatives
Derivative InstrumentClassification
(Dollars in millions)
Foreign currency option contractsOperating costs and expenses$3.6 $(0.5)$4.1 
Total$3.6 $(0.5)$4.1 
Six Months Ended June 30, 2026
Total loss recognized in incomeGain realized in income on derivativesUnrealized loss recognized in income on derivatives
Derivative InstrumentClassification
(Dollars in millions)
Foreign currency option contractsOperating costs and expenses$(1.1)$2.5 $(3.6)
Total$(1.1)$2.5 $(3.6)
Six Months Ended June 30, 2025
Total gain recognized in incomeLoss realized in income on derivativesUnrealized gain recognized in income on derivatives
Derivative InstrumentClassification
(Dollars in millions)
Foreign currency option contractsOperating costs and expenses$7.2 $(1.2)$8.4 
Total$7.2 $(1.2)$8.4 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables set forth the hierarchy of the Company’s net (liability) asset positions for which fair value is measured on a recurring basis.
June 30, 2026
Level 1Level 2Level 3Total
(Dollars in millions)
Foreign currency option contracts$— $(1.0)$— $(1.0)
Total net liabilities$— $(1.0)$— $(1.0)
December 31, 2025
Level 1Level 2Level 3Total
(Dollars in millions)
Foreign currency option contracts$— $2.7 $— $2.7 
Total net assets$— $2.7 $— $2.7 
Carrying Amounts And Estimated Fair Values Of Companys Debt The fair value of debt, shown below, is principally based on reported market values and estimates based on interest rates, maturities, credit risk, underlying collateral and completed market transactions.
June 30, 2026December 31, 2025
(Dollars in millions)
Total debt at par value$346.5 $340.8 
Less: Unamortized debt issuance costs(7.5)(4.4)
Net carrying amount$339.0 $336.4 
Estimated fair value$353.7 $557.8