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Pension and Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Summary of Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status
A summary of the projected benefit obligations, fair value of plan assets and funded status for the plans is as follows:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2023202220232022
Change in benefit obligation:
Benefit obligation at beginning of year$67.7 $99.5 $16.3 $23.4 
Service cost1.9 2.1 0.1 0.1 
Interest cost2.1 0.9 0.8 0.6 
Plan participants’ contributions0.4 0.4 — — 
Actuarial loss (gain)7.4 (24.3)(2.9)(6.4)
Settlements(3.7)(2.2)— — 
Benefits paid(4.1)(3.0)(1.6)(1.4)
Foreign currency exchange and other6.0 (5.5)— — 
Administrative expenses paid(0.1)(0.2)— — 
Benefit obligation at end of year$77.6 $67.7 $12.7 $16.3 
Change in plan assets:
Fair value of plan assets at beginning of year$79.2 $105.4 $— $— 
Actual return on plan assets4.8 (16.7)— — 
Employer contributions1.8 1.9 1.6 1.4 
Plan participants’ contributions0.4 0.4 — — 
Settlements(3.7)(2.2)— — 
Benefits paid(4.1)(3.0)(1.6)(1.4)
Foreign currency exchange and other5.5 (6.3)— — 
Administrative expenses paid(0.4)(0.3)— — 
Fair value of plan assets at end of year$83.5 $79.2 $— $— 
Funded status$5.9 $11.5 $(12.7)$(16.3)
Schedule of Amounts Recognized on the Consolidated and Combined Balance Sheets
Amounts recognized on our Consolidated and Combined Balance Sheets consist of:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2023202220232022
Other assets$13.0 $14.8 $— $— 
Accrued liabilities(0.1)(0.1)(1.3)(1.8)
Accrued pension and postretirement benefits(7.0)(3.2)(11.4)(14.5)
Funded status$5.9 $11.5 $(12.7)$(16.3)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss
Amounts recognized in accumulated other comprehensive loss consist of:
Pension BenefitsPostretirement Benefits
(in millions) December 31,2023202220232022
Net actuarial loss (gain)$14.0 $6.6 $(7.9)$(5.7)
Prior service credit (6.6)(6.7)(0.9)(2.0)
Total recognized in accumulated other comprehensive loss$7.4 $(0.1)$(8.8)$(7.7)
Schedule of Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets are as follows:
 Pension Obligations/Assets
U.S.Non-U.S.Total
(in millions) December 31,202320222023202220232022
Projected benefit obligation$0.4 $— $77.2 $67.7 $77.6 $67.7 
Accumulated benefit obligation$0.4 $— $75.9 $66.4 $76.3 $66.4 
Fair value of plan assets$— $— $83.5 79.2 83.5 $79.2 
Summary of Information for Pension Plans With Benefit Obligation in Excess of Plan Assets
Information for pension plans with benefit obligation in excess of plan assets is as follows:
(in millions) December 31,20232022
Projected benefit obligation$47.2 $3.2 
Accumulated benefit obligation$45.9 $3.0 
Schedule of Components of Net Periodic (Benefit) Cost
Components of net periodic (benefit) cost are as follows:
Pension BenefitsPostretirement Benefits
(in millions) For the year ended December 31,202320222021202320222021
Net Periodic (Benefit) Cost:
Service cost$1.9 $2.1 $2.6 $0.1 $0.1 $0.2 
Interest cost2.1 0.9 0.7 0.8 0.6 0.6 
Expected return on plan assets(3.2)(2.8)(2.9)— — — 
Amortization of prior service cost(0.7)(0.7)(0.7)(1.1)(1.1)(1.1)
Amortization of net loss (gain)— 0.6 1.5 (0.7)— — 
Recognized curtailment gain(0.1)— (2.2)— — — 
Settlement (gain) loss(0.3)— 0.1 — — — 
Net periodic (benefit) cost$(0.3)$0.1 $(0.9)$(0.9)$(0.4)$(0.3)
Schedule of Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost
The weighted average assumptions used to determine benefit obligations are as follows:
Pension BenefitsPostretirement Benefits
For the year ended December 31,202320222021202320222021
U.S. Plans:
Discount rate4.02 %N/AN/A5.00 %5.40 %2.70 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
Interest credit rate4.02 %N/AN/AN/AN/AN/A
Non-U.S. Plans:
Discount rate2.57 %3.17 %1.02 %N/AN/AN/A
Rate of compensation increase2.03 %2.17 %2.25 %N/AN/AN/A
Interest credit rate1.75 %1.81 %0.33 %N/AN/AN/A
The weighted-average assumptions used to determine net periodic benefit cost are as follows:
Pension BenefitsPostretirement Benefits
For the year ended December 31,202320222021202320222021
U.S. Plans:
Discount rate5.43 %N/AN/A5.40 %2.70 %2.30 %
Expected rate of return on plan assetsN/AN/AN/AN/AN/AN/A
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
Interest credit rate3.62 %N/AN/AN/AN/AN/A
Non-U.S. Plans:
Discount rate3.17 %1.02 %0.68 %N/AN/AN/A
Expected rate of return on plan assets4.07 %2.98 %2.81 %N/AN/AN/A
Rate of compensation increase2.17 %2.25 %2.41 %N/AN/AN/A
Interest credit rate1.81 %0.33 %0.29 %N/AN/AN/A
Schedule of Assumed Health Care Cost Trend Rates
The assumed health care cost trend rates are as follows:
December 31,20232022
Health care cost trend rate assumed for next year7.25 %7.00 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.50 %4.50 %
Year that the rate reaches the ultimate trend rate20352033
Summary of Pension Plan Allocations and Fair Value of Pension Plan Assets
Our pension plan target allocations and weighted-average asset allocations by asset category are as follows, along with the actual allocation related to the Dedicated Plans:
  Target AllocationActual Allocation
Asset Category December 31,20232022
Equity securities
15% - 75%
15 %13 %
Fixed income securities
15% - 75%
27 %27 %
Alternative assets/Other
0% - 75% 
57 %59 %
Cash and money market
0% - 10%
1 %1 %
The fair value of our pension plan assets as of December 31, 2023, by asset category, are as follows:
(in millions)Active
Markets
for
Identical
Assets
Level 1		Other
Observable
Inputs
Level 2		Unobservable
Inputs
Level 3
Net Asset Value ("NAV") Practical Expedient (a)
Total
Fair Value
Cash Equivalents and Money Markets$0.5 $— $— $— $0.5 
Commingled and Mutual Funds
Non-U.S. Equity Funds— — — 12.3 12.3 
Collective Trust— — 19.4 20.7 40.1 
Non-U.S. Fixed Income, Government and Corporate— — — 22.4 22.4 
Alternative Investments
Insurance / Annuity Contract(s)— 8.2 — — 8.2 
Total Fair Value$0.5 $8.2 $19.4 $55.4 83.5 
(a)
 Investments are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy.
The fair value of our pension plan assets as of December 31, 2022, by asset category, are as follows:
(in millions)Active
Markets
for
Identical
Assets
Level 1		Other
Observable
Inputs
Level 2		Unobservable
Inputs
Level 3
Net Asset Value ("NAV") Practical Expedient (a)
Total
Fair Value
Cash Equivalents and Money Markets$1.0 $— $— $— $1.0 
Commingled and Mutual Funds
Non-U.S. Equity Funds— — — 10.0 10.0 
Collective Trust— — 16.5 18.8 35.3 
Non-U.S. Fixed Income, Government and Corporate— — — 21.3 21.3 
Alternative Investments
Insurance / Annuity Contract(s)— 10.8 — — 10.8 
International Property Funds— — — 0.8 0.8 
Total Fair Value$1.0 $10.8 $16.5 $50.9 $79.2 
(a)
 Investments are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy.
Summary of Estimated Future Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Estimated future payments (in millions)Pension
Benefits		Postretirement Benefits
2024$3.6 $1.3 
20253.6 1.3 
20263.2 1.1 
20273.5 1.2 
20283.8 1.1 
2029 to 203320.6 4.9 
Total payments$38.3 $10.9