Equity Investments (Tables) - WAVE [Member]

12 Months Ended

Dec. 31, 2023

Schedule of Equity Method Investments [Line Items]

Summary of Investment in Joint Venture, Balance Sheet Data

Condensed financial data for WAVE is summarized below.

	December 31, 2023		December 31, 2022
Current assets	$	88.9	$	100.8
Non-current assets		87.2		86.3
Current liabilities		33.0		31.3
Non-current liabilities		363.9		372.3

Summary of Investment in Joint Venture, Income Statement Data

	2023		2022		2021
Net sales	$	449.0	$	458.2	$	430.8
Gross profit		263.2		231.1		244.5
Net earnings		187.2		163.7		184.6

Summary of the Difference Between Carrying Amount and Underlying Equity of Equity Method Investment

Our recorded investment in WAVE was higher than our 50% share of the carrying values reported in WAVE’s consolidated financial statements by $127.9 million as of December 31, 2023 and $132.2 million as of December 31, 2022. These differences are due to our adoption of fresh-start reporting upon emergence from Chapter 11 in October 2006, while WAVE’s consolidated financial statements do not reflect fresh-start reporting. The differences are composed of the following fair value adjustments to assets:

	December 31, 2023		December 31, 2022
Property, plant and equipment	$	0.4	$	0.4
Other intangibles		97.1		101.4
Goodwill		30.4		30.4
Total	$	127.9	$	132.2