Financial Analysis

COMMITMENTS AND CONTINGENCIES. Contractual Obligations. At December 31, 2025, the Company's purchase commitments due within one year were minimal for materials and services through contract manufacturing agreements at negotiated prices. The amounts purchased under these obligations were minimal in 2025. The Company guarantees a fixed cost of certain products used in production to its strategic partners. Variations in the products costs are absorbed by the Company. Indirect Tax Contingencies. The Company accrues non-income-tax liabilities for indirect tax matters when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. In the event any losses are sustained in excess of accruals, they are charged against income. In evaluating indirect tax matters, management takes into consideration factors such as historical experience with matters of similar nature, specific facts and circumstances, and the likelihood of prevailing. Management evaluates and updates accruals as matters progress over time. It is reasonably possible that some of the matters for which accruals have not been established could be decided unfavorably to the Company and could require recognizing future expenditures. Also, statutes of limitations could expire without the Company paying the taxes for matters for which accruals have been established, which could result in the recognition of future gains upon reversal of these …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

DEBT. Outstanding debt balances were as follows: December 31, 2025 December 31, 2024 2030 Senior Secured Notes 950.0 950.0 Other 20.7 15.8 Long-term debt $ 970.7 $ 965.8 Long-term deferred financing fees (32.2) (38.5) Total outstanding debt $ 938.5 $ 927.3 2024 Refinancing Activities. Senior Secured Notes Due 2030 (2030 Senior Secured Notes). On December 18, 2024, the Company issued $950.0 in aggregate principal amount of 7.75% Senior Secured Notes due 2030 to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933. The 2030 Senior Secured Notes were issued at par. The 2030 Senior Secured Notes were issued pursuant to an indenture, dated as of December 18, 2024 (Indenture), among the Company, as issuer, the subsidiaries of the Company named therein as guarantors, and Regions Bank, as trustee and notes collateral agent. The 2030 Senior Secured Notes are the senior secured obligations of the Company and are guaranteed, on a senior secured basis, jointly and severally, by (i) as of the issue date of the 2030 Senior Secured Notes, each of the Companys subsidiaries that is a borrower under or guarantees the obligations under the Revolving Credit Facility (as defined below) and (ii) following the issue date of the 2030 Senior Secured Notes, any of the Companys existing or future wholly owned domestic subsidiaries (other than certain excluded subsidiaries) that is a borrower under or guarantees the obligations under the Revolving Credit Facility …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table represents the percentage of revenue recognized either at a point in time or over the periods presented: 2025 2024 Timing of revenue recognition Products transferred at a point in time 43% 43% Products and services transferred over time 57% 57% Net sales 100% 100%

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SHARE-BASED COMPENSATION. The Company recognizes costs resulting from all share-based payment transactions based on the fair value of the award as of the grant date. Awards are valued at fair value and compensation cost is recognized on a straight-line basis over the requisite periods of each award. To cover the exercise and/or vesting of its share-based payments, the Company uses a combination of new shares from its authorized, unissued share pool and its treasury shares. On the Effective Date, the then existing common shares of the Predecessor were canceled and new common stock of the Successor was issued. Accordingly, the existing share-based compensation awards issued pursuant to the 2017 Equity and Performance Incentive Plan were also canceled, which resulted in the recognition of any previously unamortized expense related to the canceled awards on the date of cancellation. Pursuant to the U.S. Plan, the reorganized Company adopted a new management incentive plan. In the Successor Periods stock options and RSUs were issued to officers and other management employees under the Companys 2023 Plan. The number of shares of common stock that may be issued pursuant to the 2023 Equity and Incentive Plan (the 2023 Plan) was 2.4, of which 0.6 shares were available for issuance at December 31, 2025. The following table summarizes the components of the Companys employee and non-employee directors share-based compensation programs recognized as selling and administrative expense: Suc …

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GOODWILL AND INTANGIBLE ASSETS. The Company tests for impairment of all existing goodwill at least annually as of October 1, or more frequently, if necessary. If the Company's qualitative assessment indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying value, a quantitative impairment test is used to identify potential goodwill impairment and measure the amount of any impairment loss to be recognized. The techniques used in the Company's assessments incorporate a number of assumptions and accounting estimates that the Company believes to be reasonable and to reflect market conditions at the assessment date. Changes in assumptions and estimates after the assessment date may lead to an outcome where impairment charges would be required in future periods. Specifically, actual results may vary from the Companys forecasts and such variations may be material and unfavorable, thereby triggering the need for future impairment tests where the conclusions may differ in reflection of prevailing market conditions. We performed quantitative and qualitative assessments as of October 1, 2024 and 2025, respectively, and no impairment resulted for our Banking and Retail reporting units. As part of this analysis, we evaluated factors including, but not limited to, our market capitalization and stock price performance, macro-economic conditions, market and industry conditions, cost factors, the competitive environment, and the operational st …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES. Deferred taxes are provided on the asset and liability method, whereby deferred tax assets are recognized for deductible temporary differences, operating loss carry-forwards and tax credits. Deferred tax liabilities are recognized for taxable temporary differences and undistributed earnings in certain jurisdictions. Deferred tax assets are reduced by a valuation allowance when, based upon the available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Determination of a valuation allowance involves estimates regarding the timing and amount of the reversal of taxable temporary differences, expected future taxable income and the impact of tax planning strategies. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company operates in numerous taxing jurisdictions and is subject to examination by various federal, state and foreign jurisdictions for various tax periods. Additionally, the Company has retained tax liabilities and the rights to tax refunds in connection with various acquisitions and divestitures of businesses. The Companys income tax positions are based on research and interpretations of the income tax laws and rulings in each of the jurisdictions in which the Company does business. Due to the subjectivity of interpretations of laws and rulings in each jurisdiction, the differences and interplay in tax laws between th …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES. Property, plant and equipment and long-lived assets are recorded at historical cost, including interest where applicable. Impairment of property, plant and equipment and long-lived assets is recognized when events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If the expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized at that time to reduce the asset to the lower of its fair value or its net book value. Original Cost Estimated Useful Life (years) 2025 2024 Land and land improvements (1) $ 19.3 $ 17.2 Buildings and building improvements 15-30 52.4 47.3 Machinery, tools and equipment 3-12 36.8 32.2 Leasehold improvements (2) 10 10.5 3.5 Computer equipment and software 3-10 34.6 18.4 Furniture and fixtures 5-8 25.5 15.9 Tooling 5 26.8 21.9 Construction in progress 19.7 13.5 Less accumulated depreciation (81.0) (41.8) Right-of use operating lease assets 141.4 118.1 Total property plant and equipment, net $ 286.0 $ 246.2 (1) Estimated useful life for land and land improvements is perpetual and 15 years, respectively. (2) The estimated useful life for leasehold improvements is the lesser of 10 years or the term of the lease. Depreciation expense. Depreciation expense was $33.1, $29.5, $16.2 and $18.3 for the Successor Periods for the years ended December 31, 2025 and 2024 and from August 12, 2023 to December 31, …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recently Adopted Accounting Guidance. In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09 - Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). The amendments of ASU 2023-09 improves the transparency of financial reporting by adding requirements for disclosures related to effective tax rate reconciliation, as well as information on income taxes paid. Upon adoption as of December 31, 2025, the guidance was applied on a prospective basis. Refer to Note 5 of the consolidated financial statements for more information. Recently Issued Accounting Guidance. In November 2024, the FASB issued ASU 2024-03 Comprehensive Income (Topic 220) -Disaggregation of Income Statement Expenses, which is expected to lead to incremental disclosure about the type of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented captions. In September 2025 they issued ASU 2025-06 Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which improves Subtopic 350-40 to increase the operability of the recognition guidance considering different methods of software developments. ASU 2024-03 and ASU 2025-06 are effective on December 31, 2027 and the Company is currently assessing the impact that they will have on its consolidated financial statements. In November 2024 the FASB issued ASU 2024-04 D …

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BENEFIT PLANS. Qualified Retirement Benefits. The Company has a qualified retirement plan covering certain U.S. employees that has been closed to new participants since 2003 and frozen since December 2013. The Company has a number of non-U.S. defined benefit plans covering eligible employees located predominately in Europe, the most significant of which are German plans. Benefits for these plans are based primarily on each employee's salary. The obligations in Germany consist of employer funded pension plans and deferred compensation plans. With the employer funded pension plans each beneficiary receives, depending on individual pay-scale grouping, contractual classification, or income level, different yearly contributions. The contribution is multiplied by an age factor appropriate to the respective pension plan and credited to the individual retirement account of the employee. The retirement accounts may be used up at retirement by a one-time lump-sum payout. The Company has other defined benefit plans outside the United States, which have not been mentioned here due to materiality. Supplemental Executive Retirement Benefits. The Company has non-qualified pension plans in the United States to provide supplemental retirement benefits to certain officers, which have also been frozen since December 2013. Benefits are payable at retirement based upon a percentage of the participants compensation, as defined. Other Benefits. In addition to providing retirement benefits, the Comp …

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RESTRUCTURING. In the fourth quarter of 2025, the Company initiated its Operational Evolution Program (OEP). The OEP is meant to improve efficiency and streamline the organization structure of the Company. The total amount expected to be incurred in relation to the OEP is $80, which includes $25 and $13 related to our Banking and Retail segments, respectively. The most significant expense primarily relates to headcount reduction. Total restructuring charges related to the OEP for the year ended December 31, 2025 were $26.9, which included $10.0 and $2.9 in our Banking and Retail segments, respectively. Completed Plans. In the fourth quarter of 2023, the Company completed the 2022 initiative that was announced in the second quarter of 2022. The focus was to streamline operations, drive efficiencies and digitize processes. The most significant expense of the initiative primarily relates to headcount reduction. Also during the fourth quarter of 2023, the Company introduced its continuous improvement initiative, noting that the Company is focused on consistently innovating its solutions to support a better transaction experience for consumers at bank and retail locations while simultaneously streamlining cost structures and business processes through the integration of hardware, software and services. The Company completed this program in the fourth quarter of 2025. The most significant expense for the years ended December 31, 2025 and 2024 primarily relates to headcount reductio …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE RECOGNITION. Revenue is measured based on consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The amount of consideration can vary depending on discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, penalties, or other similar items contained in the contract with the customer. These variable consideration components represent minimal amounts of net sales. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Products. Product revenue is recognized at the point in time that the customer obtains control of the product, which could be upon delivery or upon completion of installation services, depending on contract terms. The Companys software licenses are functional in nature (the IP has significant stand-alone functionality); as such, the revenue recognition of distinct software license sales is at the point in time that the customer obtains control of the rights granted by the license. Services. Revenue from professional services is recognized over time, because the customer simultaneously receives and consumes the benefits of the Companys performance as the services are performed or when the Companys performance creates an asset with no alternative use and the Company has an enforceable right to payment for performance completed to date. Generally, revenue will be recognized using an input …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

SEGMENT INFORMATION. The Company's reportable segment information below directly aligns with how the Chief Executive Officer, who is also chief operating decision maker (CODM), regularly reviews results to make decisions, allocate resources, and assess performance. Revenue, costs, operating expenses and operating profit (loss), as disclosed herein, is consistent with the segment information used by the CODM and does not include corporate charges, asset impairment, restructuring and other saving initiative expenses, or other non-routine, unusual or infrequently occurring items, as the CODM does not regularly review and use such financial measures to make decisions, allocate resources and assess performance. Segment revenue and cost of sales are from sales to external customers. Segment operating profit is defined as segment gross profit less expenses directly attributable to the segments. The Company does not allocate to its segments certain operating expenses which are managed at the headquarters level; that are not used in the management of the segments, not segment-specific, and impractical to allocate. Segment operating profit reconciles to consolidated income before income taxes by deducting items that are not attributed to the segments and which are managed independently of segment results. Assets are not allocated to segments, and thus are not included in the assessment of segment performance, and consequently, we do not disclose total assets and depreciation and amorti …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. Principles of Consolidation. The consolidated financial statements of Diebold Nixdorf Incorporated and its wholly- and majority-owned subsidiaries (collectively, the Company) include the accounts of the Company. All significant intercompany accounts and transactions have been eliminated, including common control transfers among subsidiaries of the Company. Use of Estimates in Preparation of Consolidated Financial Statements. The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include revenue recognition, the valuation of inventories, goodwill, intangible assets, other long-lived assets, legal contingencies, guarantee obligations and assumptions used in the calculation of income taxes, pension and other post-retirement benefits and customer incentives, among others. These estimates and assumptions are based on managements best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors. Management monitors the economic condition and other factors and will adjust such estimates and assumptions when facts and circumstances …

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SHAREHOLDERS' EQUITY. The following table summarizes the changes in the Companys AOCI, net of tax, by component: Accumulated Other Comprehensive Income (Loss) Years ended December 31, 2025 2024 Beginning balance $ (111.6) $ 14.2 Other comprehensive income before reclassifications (1) 186.1 (125.8) Currency translation adjustments AOCI $ 74.5 $ (111.6) Beginning balance $ (0.1) $ (0.1) Other comprehensive loss before reclassifications (5.9) Foreign currency hedges AOCI $ (6.0) $ (0.1) Beginning balance $ (0.1) $ Other comprehensive loss before reclassifications (0.1) Interest rate hedges AOCI $ (0.1) $ (0.1) Beginning balance $ (5.7) $ (6.1) Other comprehensive income (loss) before reclassifications 0.7 (0.1) Amounts reclassified from AOCI (2) 15.1 0.5 Pension and other post-retirement benefits $ 10.1 $ (5.7) Beginning balance $ (0.4) $ (0.4) Other comprehensive loss before reclassifications (0.3) Other $ (0.7) $ (0.4) AOCI $ 77.8 $ (117.9) (1) Other comprehensive income (loss) before reclassifications within the translation component excludes $(0.8) and $0.3 of translation attributable to noncontrolling interests for the years ended December 31, 2025 and 2024, respectively. The following table summarizes the details about amounts reclassified from AOCI: Year ended December 31, 2025 2024 Pension and post-retirement benefits (1) : Net prior service benefit amortization (net of tax of $0.1 and $(0.7) , respectively) 0.7 0.2 Net actuarial gains (losses) recognized during the year …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Commitments, Guarantees, Product Warranties and Other Contingencies. Indirect Tax Contingencies. At June 30, 2026, the Company was a party to several routine indirect tax claims from various taxing authorities globally that were incurred in the normal course of business, which neither individually nor in the aggregate are considered material by management in relation to the Companys financial position or results of operations. In managements opinion, the condensed consolidated financial statements would not be materially affected by the outcome of these indirect tax claims and/or proceedings or asserted claims. Although management believes the Company has valid defenses with respect to its indirect tax positions, it is reasonably possible that a loss could occur in excess of the estimated liabilities. The Company estimated the aggregate risk at June 30, 2026 to be up to $44.9 for its significant indirect tax matters. The aggregate risk related to indirect taxes is adjusted as the applicable statutes of limitations expire. Legal Contingencies. At June 30, 2026, the Company was a party to several lawsuits that were incurred in the normal course of business, which neither individually nor in the aggregate were considered material by management in relation to the Companys financial position or results of operations. In managements opinion, the Company's condensed consolidated financial statements would not be materially affected by the outcome of these legal proceedings or assert …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Debt. Outstanding debt balances were as follows: June 30, 2026 December 31, 2025 2030 Senior Secured Notes $ 950.0 $ 950.0 Other 21.7 20.7 Long-term debt $ 971.7 $ 970.7 Long-term deferred financing fees (28.8) (32.2) Total outstanding debt $ 942.9 $ 938.5 7.75% Senior Secured Notes Due 2030. On December 18, 2024, the Company issued $950.0 in aggregate principal amount of 7.75% Senior Secured Notes due 2030 (2030 Senior Secured Notes) to qualified institutional buyers in a private placement exempt from the registration requirements of the Securities Act of 1933. The 2030 Senior Secured Notes were issued at par. Revolving Credit Agreement. On December 18, 2024, the Company entered into a credit agreement (Credit Agreement) for a $310.0 revolving credit facility maturing on December 18, 2029 (Revolving Credit Facility). Borrowings under the Revolving Credit Facility bear interest at an adjusted secured overnight financing rate plus a margin of 2.75% to 3.50% per annum or an adjusted base rate plus a margin of 1.75% to 2.50% per annum, in each case based on the consolidated first lien debt ratio of the Company and its restricted subsidiaries. As of June 30, 2026, no amounts were outstanding under the Revolving Credit Facility. Below is a summary of financing information: Financing Facilities Interest Rate Index and Margin Maturity/Termination Dates Initial Term (Years) 2030 Senior Secured Notes 7.75% March 2030 5.25 Revolving Credit Facility (i) SOFR + 2.75%-3.50% December 2029 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Goodwill and Other Intangible Assets. Goodwill and intangibles are tested for impairment annually during the fourth quarter or earlier if a triggering event is identified. The changes in the carrying amount of goodwill for the six months ended June 30, 2026 were as follows: Banking Retail Total Goodwill, balance at January 1, 2026 $ 490.9 $ 151.5 $ 642.4 Currency translation adjustment (11.1) (3.5) (14.6) Goodwill, balance at June 30, 2026 479.8 148.0 627.8 The following summarizes information on Intangible assets by major category: June 30, 2026 December 31, 2025 Weighted-average remaining useful lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 14.6 years $ 571.6 $ (94.6) $ 477.0 $ 584.7 $ (79.5) $ 505.2 Trademarks and trade names 15.4 years 121.0 (19.1) 101.9 123.3 (16.0) 107.3 Capitalized software development 2.0 years 86.7 (26.4) 60.3 75.6 (18.3) 57.3 Technology know-how and development costs non-software and other 3.2 years 236.4 (132.4) 104.0 240.8 (118.2) 122.6 Customer relationships and other intangible assets, net $ 1,015.7 $ (272.5) $ 743.2 $ 1,024.4 $ (232.0) $ 792.4 The Company's total amortization expense, excluding that related to deferred financing costs, was $24.9 and $49.8 for the three and six months ended June 30, 2026, respectively, and $22.2 and $47.6 for the three and six months ended June 30, 2025, respectively. The primary driver of the cha …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes. Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 Income tax expense $ 19.2 $ 4.8 $ 25.0 $ 2.6 Effective tax rate 52.9 % 27.9 % 51.3 % 26.5 % The effective tax rate on the income from continuing operations was 52.9% and 51.3% for the three and six months ended June 30, 2026, respectively, and 27.9% and 26.5% for the three and six months ended June 30, 2025, respectively. For all periods noted, the effective tax rate differed compared to the U.S. federal statutory rate due to expected jurisdictional mix of earnings, U.S. tax on foreign income and other expected permanent tax differences relative to pretax earnings. The effective tax rate for the periods presented in 2025 were lower than the effective tax rate for the periods presented in 2026 primarily due to decreased interest expense deductibility in 2026.

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Restructuring. In the fourth quarter of 2025, the Company initiated its Operational Evolution Program (OEP). The OEP is meant to improve efficiency and streamline the organizational structure of the Company. The total amount expected to be incurred in relation to the OEP is $105, which includes $38 and $15 related to our Banking and Retail segments, respectively. As of June 30, 2026, the Company has recognized total cumulative restructuring charges of $70.6, which includes $22.6 and $7.5 related to our Banking and Retail segments, respectively. The most significant expense primarily relates to headcount reduction. Total restructuring charges related to the OEP for the three months ended June 30, 2026 were $6.6 and $(1.5) in our Banking and Retail segments, respectively, and $12.6 and $4.6 for the six months ended June 30, 2026, respectively, which includes costs related to a non-core business in Turkey. Completed Plans. Refer to the Companys Annual Report on Form 10-K for the year ended December 31, 2025 for information regarding the Company's prior plans, which have now been completed. Total restructuring charges for the Banking and Retail segments were $5.2 and $3.4 for the three months ended June 30, 2025, respectively, and $8.6 and $10.5 for the six months ended June 30, 2025, respectively. Total restructuring charges also includes corporate charges that are not allocated to the segments. The following table summarizes the impact of the Companys restructuring charges on t …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Recognition. A performance obligation is a contractual promise to transfer a distinct good or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and is recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. For both the six months ended June 30, 2026 and 2025, the revenue recognized by the Company included approximately 40% for products transferred at a point in time and 60% for products and services transferred over time. Contract balances. The following table provides information about receivables and deferred revenue, which represent contract liabilities from contracts with customers: Contract balance information Trade receivables Contract liabilities Balance at December 31, 2025 $ 609.4 $ 325.8 Balance at June 30, 2026 $ 573.4 $ 300.3 There have been $1.8 and $8.6 of impairment losses recognized as bad debt related to receivables or contract assets arising from the Company's contracts with customers during the six months ended June 30, 2026 and 2025, respectively. As of December 31, 2025, the Company had $325.8 of deferred revenue constituting the remaining performance obligations that are unsatisfied (or partially unsatisfied). During the six months ended June 30, 2026, the Company recognized revenue of $164.4 related to the Company's deferred revenue balance at December 31, 2025.

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Segment Information. The Company's reportable segment information below directly aligns with how the Chief Executive Officer, who is also the chief operating decision maker (CODM), regularly reviews results to make decisions, allocate resources, and assess performance. Revenue, costs, operating expenses and operating profit, as disclosed herein, is consistent with the segment information used by the CODM and does not include corporate charges, asset impairment, restructuring and saving initiative charges, or other non-routine, unusual or infrequently occurring items, as the CODM does not regularly review and use such financial measures to make decisions, allocate resources and assess performance. Segment revenue and cost of sales are from sales to external customers. Segment operating profit is defined as segment gross profit less expenses directly attributable to the segments. The Company does not allocate to its segments certain operating expenses which are managed at the headquarters level; that are not used in the management of the segments, not segment-specific, and impractical to allocate. Segment operating profit reconciles to consolidated loss before income taxes by deducting items that are not attributed to the segments and which are managed independently of segment results. Assets are not allocated to segments, and thus are not included in the assessment of segment performance, and consequently, we do not disclose total assets and depreciation and amortization expen …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Shareholders' Equity. The following table summarizes the changes in the Companys Accumulated Other Comprehensive Income (AOCI), net of tax, by component for the three and six months ended June 30, 2026 and 2025: Accumulated Other Comprehensive Income (Loss) Three months ended June 30, Six months ended June 30, (in millions) 2026 2025 2026 2025 Beginning balance $ 46.8 $ (41.6) $ 74.5 $ (111.6) Other comprehensive income before reclassifications (1) (13.9) 128.6 (41.6) 198.6 Currency translation adjustments AOCI $ 32.9 $ 87.0 $ 32.9 $ 87.0 Beginning balance $ (3.8) $ (0.1) $ (6.0) $ (0.1) Other comprehensive loss before reclassifications 0.4 2.6 Foreign currency hedges AOCI $ (3.4) $ (0.1) $ (3.4) $ (0.1) Beginning balance $ 10.8 $ (6.3) $ 10.1 $ (5.7) Amounts reclassified from AOCI (2) 0.6 (0.8) 1.3 (1.4) Pension and other post-retirement benefits $ 11.4 $ (7.1) $ 11.4 $ (7.1) Beginning balance $ (1.1) $ (0.8) $ (0.8) $ (0.5) Other comprehensive loss before reclassifications (0.3) (0.3) Other $ (1.1) $ (0.8) $ (1.1) $ (0.8) AOCI at June 30 $ 39.8 $ 79.0 $ 39.8 $ 79.0 (1) Other comprehensive income (loss) before reclassifications within the translation component excludes $(3.3), $(0.3), $(1.2) and $ translation amount attributable to noncontrolling interests for the three and six months ended June 30, 2026 and 2025, respectively. (2) The total reclassification from AOCI included pension and post-retirement net actuarial gain (loss) of $0.6, $(0.8), $1.3 a nd $(1.4) net of tax, …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing