Indebtedness |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Indebtedness | INDEBTEDNESS Long-term debt consisted of the following at September 30, 2026 and December 31, 2025 (in millions):
Credit Facility The Company has a credit facility providing for a $1.25 billion multi-currency unsecured revolving credit facility (“Credit Facility”) that matures on December 19, 2027. As of September 30, 2026, the Company had $254.4 million in outstanding borrowings under the revolving credit facility and had the ability to borrow $995.6 million. Uncommitted Credit Facility The Company has an uncommitted revolving credit facility that allows the Company to borrow up to €200.0 million (or approximately $227.1 million as of September 30, 2026). The credit facility expires on December 31, 2026. As of September 30, 2026 and December 31, 2025, the Company had no outstanding borrowings under the revolving credit facility. Senior Term Loans due between 2026 and 2028 In October 2026, the Company repaid €52.5 million (or approximately $58.9 million) upon maturity of the Senior term loans due 2026. Other Short-Term Borrowings As of September 30, 2026 and December 31, 2025, the Company had short-term borrowings due within one year, excluding the current portion of long-term debt, of approximately $76.9 million and $56.1 million, respectively. Standby Letters of Credit and Similar Instruments The Company has arrangements with various banks to issue standby letters of credit or similar instruments, which guarantee the Company’s obligations for the purchase or sale of certain inventories and for potential claims exposure for insurance coverage. At September 30, 2026 and December 31, 2025, outstanding letters of credit totaled approximately $12.5 million and $14.0 million, respectively.
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