Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Components of Net Periodic Pension Income

The components of net periodic pension income are as follows:

	Year Ended December 31,
	2022		2021		2020
Interest cost	$	1.7	$	1.7	$	1.8
Expected return on plan assets	(4.3)		(3.8)		(3.3)
Amortization of net loss	0.5		1.0		1.2
Total net periodic pension income	$	(2.1)	$	(1.1)	$	(0.3)

Schedule of Changes in Projected Benefit Obligation and Plan Assets, Funded Status and Amounts Recognized on the Balance Sheet

The changes in the projected benefit obligation and plan assets, the funded status of the plans and the amounts recognized in the consolidated balance sheets are as follows:

 

	December 31,
	2022		2021
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	63.5	$	62.5
Interest cost	1.7		1.7
Assumption changes	(12.4)		(1.9)
Acquisition of Hudson Plan (1)	—		3.1
Benefits paid	(3.0)		(2.8)
Actuarial losses	0.2		0.9
Projected benefit obligation at year end	50.0		63.5
Change in plan assets:
Fair value of plan assets at beginning of year	61.9		53.9
Actual return	(9.8)		8.3
Acquisition of Hudson Plan (1)	—		2.4
Employer contributions	—		0.1
Benefits paid	(3.0)		(2.8)
Fair value of plan assets at year end	49.1		61.9
Funded status (Accrued pension asset (liability))	$	(0.9)	$	(1.6)
Unrecognized actuarial loss recognized in accumulated other comprehensive loss	$	10.3	$	8.0

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(1)The 2021 changes in the projected benefit obligation and plan assets reflect the effect of the Hudson Plan merger.

Schedule of Assumptions Used

The actuarial assumptions used in determining pension plan information are as follows: 

	December 31,
	2022		2021		2020
Assumptions used to determine benefit obligation at year end:
Discount rate	4.9	%	2.7	%	2.4	%
Assumptions used to determine net periodic benefit cost:
Discount rate	2.7	%	2.4	%	3.2	%
Expected long-term weighted-average rate of return on plan assets	7.0	%	7.0	%	7.0	%

Schedule of Target Allocation by Asset Category and Fair Value

The target allocations by asset category and fair values of the plan assets by asset class at December 31 are as follows:

	Target Allocations by Asset Category	Fair Value
		Total				Level 2				Level 3
Plan Assets:		2022		2021		2022		2021		2022		2021
Equity funds	68%	$	35.0	$	43.9	$	35.0	$	43.9	$	—	$	—
Fixed income funds	27%	13.0		16.0		13.0		16.0		—		—
Other investments	5%	1.1		2.0		—		—		1.1		2.0
Total		$	49.1	$	61.9	$	48.0	$	59.9	$	1.1	$	2.0

Rollforward of Unobservable Inputs

The following table represents changes in the fair value of plan assets categorized as Level 3 from the preceding table:

Balance at December 31, 2020	$	1.8
Purchases, sales and settlements, net	(3.0)
Transfers, net	3.2
Balance at December 31, 2021	2.0
Purchases, sales and settlements, net	(3.4)
Transfers, net	2.5
Balance at December 31, 2022	$	1.1

Schedule of Expected Benefit Payments

The following benefit payments are expected to be paid by the plan in each of the next five years and in the aggregate for the subsequent five years:

2023	$	3.5
2024	3.5
2025	3.6
2026	3.6
2027	3.7
In aggregate during five years thereafter	17.9