v3.26.3
Financial Instruments and Fair Value Measurement (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Derivatives Instruments
The following table summarizes outstanding financial instruments that are measured at fair value on a recurring basis:
September 30, 2026December 31, 2025Balance Sheet Classification
Notional AmountFair ValueNotional AmountFair Value
(In millions)
Assets
Derivatives designated as hedges:
Cross currency swaps$197.0 $20.2 $197.0 $12.2 Other financial assets (non-current)
Interest rate swaps227.1 6.0 235.0 1.8 Other financial assets (non-current)
Total$424.1 $26.2 $432.0 $14.0 
The following tables summarize the pre-tax effect of derivative and non-derivative instruments recorded in Accumulated other comprehensive income (loss) (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings:
Effect of Financial Instruments
Three Months Ended September 30,
Gain (Loss) Recognized in AOCIGain (Loss) Reclassified from AOCI to IncomeIncome Statement Classification
2026202520262025
(In millions)
Derivatives designated as hedges:
Cross currency swaps$2.7 $0.5 $(0.3)$(0.3)Interest and other financial expense, net
Interest rate swaps3.0 0.8 — — Interest and other financial expense, net
Total$5.7 $1.3 $(0.3)$(0.3)
Effect of Financial Instruments
Nine Months Ended September 30,
Gain (Loss) Recognized in AOCIGain (Loss) Reclassified from AOCI to IncomeIncome Statement Classification
2026202520262025
(In millions)
Derivatives designated as hedges:
Cross currency swaps$1.4 $(4.1)$(0.9)$(0.4)Interest and other financial expense, net
Interest rate swaps4.2 1.3 — — Interest and other financial expense, net
Total$5.6 $(2.8)$(0.9)$(0.4)
Schedule of Fair Value Measurements Not Recurring
The following table presents the carrying value and estimated fair value of our financial instruments that are not measured at fair value on a recurring basis for the periods presented. Short-term and Long-term debt are recorded at amortized cost in the Condensed Consolidated Balance Sheets.
September 30, 2026December 31, 2025
Notional AmountFair ValueNotional AmountFair Value
(In millions)
Liabilities:
Term-Loan$620.6 $558.5 $639.7 $582.8 
China Term-Loan47.8 48.6 52.4 52.9 
Total$668.4 $607.1 $692.1 $635.7