| Shareholders' Equity and Share-based Payments |
Shareholders' Equity Activity in our various shareholders' equity accounts for the three and nine months ended September 30, 2026 and 2025 were as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Shares
Issued | | Par Value | | Additional
Paid-in
Capital | | Warrants | | Retained Earnings | | AOCI | | Treasury
Shares | | Non-controlling
Interest | | BALANCE, December 31, 2025 | 76.4 | | | $ | 0.8 | | | $ | 1,134.9 | | | $ | 16.4 | | | $ | 2,381.7 | | | $ | 60.9 | | | $ | (425.1) | | | $ | 2.1 | | | Net loss | — | | | — | | | — | | | — | | | (16.4) | | | — | | | — | | | (1.6) | | | Share-based compensation cost | — | | | — | | | 6.4 | | | — | | | — | | | — | | | — | | | — | | Shares issued under share-based compensation plans, net | 0.1 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | Net changes in pension and other postretirement benefits | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Shares withheld for taxes on vesting of share-based awards | — | | | — | | | (1.4) | | | — | | | — | | | — | | | — | | | — | | Foreign currency translation adjustments | — | | | — | | | — | | | — | | | — | | | 3.2 | | | — | | | — | | | BALANCE, March 31, 2026 | 76.5 | | | $ | 0.8 | | | $ | 1,139.9 | | | $ | 16.4 | | | $ | 2,365.3 | | | $ | 63.9 | | | $ | (425.1) | | | $ | 0.5 | | | Net income (loss) | — | | | — | | | — | | | — | | | 50.4 | | | — | | | — | | | (3.4) | | Share-based compensation cost | — | | | — | | | 9.2 | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | Net changes in pension and other postretirement benefits | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Shares withheld for taxes on vesting of share-based awards | — | | | — | | | (0.1) | | | — | | | — | | | — | | | — | | | — | | Foreign currency translation adjustments | — | | | — | | | — | | | — | | | — | | | 0.2 | | | — | | | — | | | BALANCE, June 30, 2026 | 76.5 | | | $ | 0.8 | | | $ | 1,149.0 | | | $ | 16.4 | | | $ | 2,415.7 | | | $ | 63.9 | | | $ | (425.1) | | | $ | (2.9) | | | Net income | — | | | — | | | — | | | — | | | 46.1 | | | — | | | — | | | 0.6 | | | Share-based compensation cost | — | | | — | | | 10.6 | | | — | | | — | | | — | | | — | | | — | | | Shares issued under share-based compensation plans, net | 0.1 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Net changes in pension and other postretirement benefits | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | — | | | | | | | | | | | | | | | | | | | Shares withheld for taxes on vesting of share-based awards | — | | | — | | | (6.0) | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign currency translation adjustments | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | — | | | BALANCE, September 30, 2026 | 76.6 | | | $ | 0.8 | | | $ | 1,153.6 | | | $ | 16.4 | | | $ | 2,461.8 | | | $ | 63.5 | | | $ | (425.1) | | | $ | (2.3) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Shares
Issued | | Par Value | | Additional
Paid-in
Capital | | Warrants | | Retained Earnings | | AOCI | | Treasury
Shares | | Non-controlling
Interest | BALANCE, December 31, 2024 | 76.2 | | | $ | 0.8 | | | $ | 1,113.3 | | | $ | 16.4 | | | $ | 1,398.9 | | | $ | 34.2 | | | $ | (325.1) | | | $ | 5.8 | | | Net loss | — | | | — | | | — | | | — | | | (37.9) | | | — | | | — | | | (1.3) | | | Share-based compensation cost | — | | | — | | | 5.6 | | | — | | | — | | | — | | | — | | | — | | Shares issued under share-based compensation plans, net | 0.1 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Net changes in pension and other postretirement benefits | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | — | | Shares withheld for taxes on vesting of share-based awards | — | | | — | | | (0.3) | | | — | | | — | | | — | | | — | | | — | | Foreign currency translation adjustments | — | | | — | | | — | | | — | | | — | | | 1.3 | | | — | | | — | | BALANCE, March 31, 2025 | 76.3 | | | $ | 0.8 | | | $ | 1,118.6 | | | $ | 16.4 | | | $ | 1,361.0 | | | $ | 35.3 | | | $ | (325.1) | | | $ | 4.5 | | | Net income (loss) | — | | | — | | | — | | | — | | | 115.1 | | | — | | | — | | | (0.9) | | | Share-based compensation cost | — | | | — | | | 6.0 | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | Net changes in pension and other postretirement benefits | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | — | | | | | | | | | | | | | | | | | | Foreign currency translation adjustments | — | | | — | | | — | | | — | | | — | | | 1.8 | | | — | | | — | | BALANCE, June 30, 2025 | 76.3 | | | $ | 0.8 | | | $ | 1,124.6 | | | $ | 16.4 | | | $ | 1,476.1 | | | $ | 36.9 | | | $ | (325.1) | | | $ | 3.6 | | | Net income (loss) | — | | | — | | | — | | | — | | | 188.1 | | | — | | | — | | | (0.8) | | | Share-based compensation cost | — | | | — | | | 6.8 | | | — | | | — | | | — | | | — | | | — | | | Shares issued under share-based compensation plans, net | 0.1 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Net changes in pension and other postretirement benefits | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | — | | | Repurchase of Common Shares | — | | | — | | | — | | | — | | | — | | | — | | | (75.0) | | | — | | | Shares withheld for taxes on vesting of share-based awards | — | | | — | | | (2.8) | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign currency translation adjustments | — | | | — | | | — | | | — | | | — | | | 1.2 | | | — | | | — | | BALANCE, September 30, 2025 | 76.4 | | | $ | 0.8 | | | $ | 1,128.6 | | | $ | 16.4 | | | $ | 1,664.2 | | | $ | 37.9 | | | $ | (400.1) | | | $ | 2.8 | |
Share Repurchase Program
Our board of directors has authorized a share repurchase program (the "Share Repurchase Program") under which we may purchase up to $600.0 million of our outstanding Common Shares. The Share Repurchase Program does not have a fixed expiration, may be modified, suspended or discontinued at any time and any repurchases made pursuant to the Share Repurchase Program are subject to compliance with applicable covenants and restrictions under our financing agreements and the Business Combination Agreement.
There were no share repurchases during each of the three and nine months ended September 30, 2026. The following table summarizes shares repurchased, aggregate cost and the average per share price (in millions, except average per share price) for the three and nine months ended September 30, 2025:
| | | | | | | | | | | | | | | | | Three Months Ended September 30, | | | | Nine Months Ended September 30, | | | | 2025 | | | | Shares repurchased | 1.5 | | | | | 1.5 | | | | | Aggregate cost | $ | 75.0 | | | | | $ | 75.0 | | | | | Average price per share | $ | 48.88 | | | | | $ | 48.88 | | | | | | | | | | | |
As of September 30, 2026, we had approximately $175.0 million available for share repurchases pursuant to the Share Repurchase Program.
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