CARLISLE COMPANIES INC, 10-K filed on 2/13/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Billions
12 Months Ended
Dec. 31, 2025
Feb. 06, 2026
Jun. 30, 2025
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-09278    
Entity Registrant Name CARLISLE COMPANIES INCORPORATED    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 31-1168055    
Entity Address, Address Line One 16430 North Scottsdale Road    
Entity Address, Address Line Two Suite 400    
Entity Address, City or Town Scottsdale    
Entity Address, State or Province AZ    
Entity Address, Postal Zip Code 85254    
City Area Code 480    
Local Phone Number 781-5000    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 15.8
Entity Common Stock, Shares Outstanding   40,883,868  
Documents Incorporated by Reference
Portions of the definitive Proxy Statement for the Annual Meeting of Stockholders to be held on April 29, 2026, are incorporated by reference in Part III.
   
Entity Central Index Key 0000790051    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Common Stock      
Entity Information [Line Items]      
Title of 12(b) Security Common stock, $1 par value    
Trading Symbol CSL    
Security Exchange Name NYSE    
Preferred Stock      
Entity Information [Line Items]      
Title of 12(b) Security Preferred Stock Purchase Rights, $1 par value    
Security Exchange Name NYSE    
v3.25.4
Audit Information
12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name DELOITTE & TOUCHE LLP
Auditor Location Tempe, Arizona
Auditor Firm ID 34
v3.25.4
Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Revenues $ 5,019.9 $ 5,003.6 $ 4,586.9
Cost of goods sold 3,227.3 3,115.9 2,952.7
Selling and administrative expenses 745.4 722.8 625.2
Research and development expenses 47.1 35.4 28.7
Other operating expense (income), net (2.4) (13.6) (2.5)
Operating income 1,002.5 1,143.1 982.8
Interest expense 78.5 73.3 75.6
Interest income (25.9) (60.3) (20.1)
Other non-operating expense (income), net 1.1 19.2 (3.1)
Income from continuing operations before income taxes 948.8 1,110.9 930.4
Provision for income taxes 206.3 245.8 211.5
Income from continuing operations 742.5 865.1 718.9
Income (loss) from discontinued operations (1.8) 446.7 48.5
Net income $ 740.7 $ 1,311.8 $ 767.4
Basic earnings per share attributable to common shares:      
Income from continuing operations (in dollars per share) $ 17.31 $ 18.58 $ 14.38
Income (loss) from discontinued operations (in dollars per share) (0.04) 9.59 0.97
Basic earnings per share (in dollars per share) 17.27 28.17 15.35
Diluted earnings per share attributable to common shares:      
Income from continuing operations (in dollars per share) 17.16 18.34 14.22
Income (loss) from discontinued operations (in dollars per share) (0.04) 9.48 0.96
Diluted earnings per share (in dollars per share) $ 17.12 $ 27.82 $ 15.18
Average shares outstanding:      
Basic (in shares) 42.8 46.5 49.9
Diluted (in shares) 43.2 47.1 50.4
Comprehensive income:      
Net income $ 740.7 $ 1,311.8 $ 767.4
Other comprehensive income (loss):      
Foreign currency gains (losses) 36.9 (22.9) 46.1
Amortization of unrecognized net periodic benefit costs, net of tax 1.9 20.7 (1.3)
Other, net of tax 1.3 3.2 1.9
Other comprehensive income (loss) 40.1 1.0 46.7
Comprehensive income $ 780.8 $ 1,312.8 $ 814.1
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and cash equivalents $ 1,112.1 $ 753.5
Receivables, net of allowance for credit losses of $3.9 and $4.7 593.8 579.7
Inventories 447.3 472.7
Prepaid expenses 28.5 26.9
Other current assets 95.7 93.5
Total current assets 2,277.4 1,926.3
Property, plant, and equipment, net of accumulated depreciation of $774.0 and $702.5 807.1 711.8
Goodwill 1,538.9 1,478.0
Other intangible assets, net of accumulated amortization of $673.7 and $543.5 1,425.5 1,504.9
Other long-term assets 214.1 195.6
Total assets 6,263.0 5,816.6
LIABILITIES AND EQUITY    
Accounts payable 233.0 261.1
Other current liabilities 503.0 404.7
Total current liabilities 736.0 665.8
Long-term debt 2,881.6 1,887.4
Contract liabilities 342.5 322.2
Deferred taxes 245.6 228.2
Other long-term liabilities 261.9 249.7
Common stock [1],[2] 78.7 78.7
Additional paid-in capital 603.5 589.0
Treasury stock [3] (6,149.3) (4,867.4)
Accumulated other comprehensive loss (70.0) (110.1)
Retained earnings 7,332.5 6,773.1
Total liabilities and equity $ 6,263.0 $ 5,816.6
[1] Common Stock: $1 par value; 200.0 shares authorized; 41.0 and 44.4 shares outstanding, respectively
[2] Preferred Stock: $1 par value; 5.0 shares authorized and unissued; no shares were issued or outstanding during any period presented
[3] Treasury Stock: at cost; 37.6 and 34.2 shares, respectively
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Receivables allowance $ 3.9 $ 4.7
Property, plant, and equipment, net of accumulated depreciation 774.0 702.5
Other intangible assets, accumulated amortization $ 673.7 $ 543.5
Preferred stock, par value (in dollars per share) $ 1 $ 1
Preferred stock, authorized shares (in shares) 5,000,000.0 5,000,000.0
Preferred stock, unissued shares (in shares) 5,000,000.0 5,000,000.0
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 1 $ 1
Common stock, authorized (in shares) 200,000,000.0 200,000,000.0
Common stock, outstanding (in shares) 41,000,000.0 44,400,000
Treasury (in shares) 37,600,000 34,200,000
Common Stock Shares Issued Not Disclosed true true
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income $ 740.7 $ 1,311.8 $ 767.4
Reconciliation of net income to cash flows provided by operating activities:      
Depreciation 74.6 70.2 84.3
Amortization 121.9 102.4 120.4
Stock-based compensation 34.8 30.1 41.5
Deferred taxes 11.1 (60.1) (71.7)
(Gain) loss on sale of discontinued operations 0.0 (454.4) 82.5
Other operating activities, net 45.0 56.0 57.5
Changes in assets and liabilities, excluding effects of acquisitions:      
Receivables (3.4) 69.6 1.5
Inventories 33.2 (103.7) 158.0
Prepaid expenses and other assets (16.2) (6.5) (11.0)
Accounts payable (33.0) (4.1) (27.0)
Other current liabilities 106.1 15.7 (13.9)
Other long-term liabilities (13.0) 3.3 11.8
Net cash provided by operating activities 1,101.8 1,030.3 1,201.3
Investing activities:      
Proceeds from sale of discontinued operations, net of cash disposed 0.0 1,998.0 510.6
Capital expenditures (131.2) (113.3) (142.2)
Acquisitions, net of cash acquired (109.6) (676.9) (36.1)
Other investing activities, net 0.4 21.8 20.1
Net cash provided by (used in) investing activities (240.4) 1,229.6 352.4
Financing activities:      
Proceeds from notes 987.8 0.0 0.0
Repayments of notes 0.0 (400.0) (300.0)
Borrowings from revolving credit facility 0.0 22.0 84.0
Repayments of revolving credit facility 0.0 (22.0) (84.0)
Repurchases of common stock (1,300.0) (1,585.9) (900.0)
Dividends paid (181.1) (172.4) (160.3)
Proceeds from exercise of stock options 23.5 80.2 25.7
Withholding tax paid related to stock-based compensation (13.5) (18.1) (11.7)
Other financing activities, net (20.4) (14.0) (3.4)
Net cash provided by (used in) financing activities (503.7) (2,110.2) (1,349.7)
Effect of foreign currency exchange rate changes on cash and cash equivalents 0.9 (1.7) 1.5
Change in cash and cash equivalents 358.6 148.0 205.5
Less: change in cash and cash equivalents of discontinued operations 0.0 (28.8) (6.4)
Cash and cash equivalents at beginning of period 753.5 576.7 364.8
Cash and cash equivalents at end of period $ 1,112.1 $ 753.5 $ 576.7
v3.25.4
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid-In Capital
Accumulated other comprehensive loss
Retained Earnings
Treasury Shares
Balance at beginning (in shares) at Dec. 31, 2022   50.9        
Balance at the beginning of the period at Dec. 31, 2022 $ 3,024.4 $ 78.7 $ 512.6 $ (157.8) $ 5,027.1 $ (2,436.2)
Balance at beginning (in shares) at Dec. 31, 2022           27.5
Increase (Decrease) in Shareholders' Equity            
Net income 767.4       767.4  
Other comprehensive income 46.7     46.7    
Dividends (160.5)       (160.5)  
Repurchase of common stock (in shares) [1]   (3.5)       3.5
Repurchases of common stock [1] (908.3)         $ (908.3)
Stock-based compensation (in shares) [2]   0.3       0.1
Stock-based compensation [2] 59.3   41.2     $ 18.1
Balance at ending (in shares) at Dec. 31, 2023   47.7        
Balance at the end of the period at Dec. 31, 2023 2,829.0 $ 78.7 553.8 (111.1) 5,634.0 $ (3,326.4)
Balance at ending (in shares) at Dec. 31, 2023           30.9
Increase (Decrease) in Shareholders' Equity            
Net income 1,311.8       1,311.8  
Other comprehensive income 1.0     1.0    
Dividends (172.7)       (172.7)  
Repurchase of common stock (in shares) [1]   (3.9)       3.9
Repurchases of common stock [1] (1,599.5)         $ (1,599.5)
Stock-based compensation (in shares) [2]   0.6       0.6
Stock-based compensation [2] $ 93.7   35.2     $ 58.5
Balance at ending (in shares) at Dec. 31, 2024 44.4 44.4        
Balance at the end of the period at Dec. 31, 2024 $ 2,463.3 $ 78.7 589.0 (110.1) 6,773.1 $ (4,867.4)
Balance at ending (in shares) at Dec. 31, 2024 34.2         34.2
Increase (Decrease) in Shareholders' Equity            
Net income $ 740.7       740.7  
Other comprehensive income 40.1     40.1    
Dividends (181.3)       (181.3)  
Repurchase of common stock (in shares) [1]   (3.7)       3.7
Repurchases of common stock [1] (1,312.0)         $ (1,312.0)
Stock-based compensation (in shares) [2]   0.3       0.3
Stock-based compensation [2] $ 44.6   14.5     $ 30.1
Balance at ending (in shares) at Dec. 31, 2025 41.0 41.0        
Balance at the end of the period at Dec. 31, 2025 $ 1,795.4 $ 78.7 $ 603.5 $ (70.0) $ 7,332.5 $ (6,149.3)
Balance at ending (in shares) at Dec. 31, 2025 37.6         37.6
[1] Repurchases of common stock include excise taxes on share repurchases.
[2] Stock-based compensation includes stock options exercised net of tax, restricted and performance shares vested, and shares issued and deferred associated with deferred compensation.
v3.25.4
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Cash dividends (in dollars per share) $ 4.20 $ 3.70 $ 3.20
v3.25.4
Summary of Accounting Policies
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Accounting Policies Summary of Accounting Policies
Nature of Business
Carlisle Companies Incorporated ("Carlisle" or the "Company"), is a leading supplier of innovative building envelope products and solutions for more energy-efficient buildings. Through its building products businesses, Carlisle Construction Materials ("CCM") and Carlisle Weatherproofing Technologies ("CWT"), and family of leading brands, Carlisle delivers innovative, labor-reducing and environmentally responsible products and solutions to customers through the Carlisle Experience.
Basis of Presentation 
The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All material intercompany transactions and accounts have been eliminated. Certain prior period amounts have been reclassified to conform to the current period's presentation.
Use of Estimates 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 
Foreign Currency Matters 
The functional currency of the Company’s subsidiaries outside the United States of America ("United States" or "U.S.") is the currency of the primary economic environment in which the subsidiary operates. Assets and liabilities of these operations are translated to the U.S. Dollar at the exchange rate in effect at each balance sheet date. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments arising from the use of differing exchange rates from period to period are included as a component of stockholders’ equity in accumulated other comprehensive loss. Gains and losses from foreign currency transactions and from the remeasurement of monetary assets and liabilities and associated income statement activity of foreign subsidiaries where the functional currency is the U.S. Dollar and the records are maintained in the local currency are included in other non-operating expense (income), net.
Discontinued Operations
The results of operations for the Company's former Carlisle Fluid Technologies ("CFT") and Carlisle Interconnect Technologies ("CIT") businesses have been classified as discontinued operations for all periods presented in the Consolidated Statements of Income.
Refer to Note 4 for additional information.
Revenue Recognition 
Revenue is recognized when the Company satisfies performance obligations in contracts with customers. Most of the Company’s contracts with customers have a single performance obligation to transfer distinct goods or services, and substantially all of the Company's revenue is recognized at the point in time when control of the goods transfers to the customer. Control typically transfers when the goods are shipped from the manufacturing facility or delivered to the customer, depending on the terms of the contract.
Revenue is measured as the amount of total consideration the Company expects to receive for satisfying its performance obligations. At the time of sale, the Company estimates provisions for variable consideration including discounts, rebates and returns based on an analysis of historical experience and actual sales data. At the end of each reporting period, the Company updates these estimates based on actual and expected changes in customer behavior related to early payment discounts, purchase volume-based rebates and rights of return. These changes in estimates are reflected as adjustments to revenue in the period identified. Sales, value-added, and other taxes collected concurrently with revenue-producing activities are excluded from revenue.
For separately priced extended warranties, the Company receives payment at the inception of the contract and establishes a contract liability. Revenue is recognized on a straight-line basis over the life of the contracts as the Company satisfies its performance obligations. The term of these warranties ranges from five to 40 years. The weighted-average life of the contracts as of December 31, 2025, is approximately 20 years.
Refer to Note 6 for further information on revenue recognition. 
Costs to Obtain a Contract
Costs to obtain a contract are recognized as expenses as incurred, as the amortization period of these costs would be one year or less. These costs generally include sales commissions and are included in selling and administrative expenses.
Shipping and Handling Costs 
Costs incurred to physically transfer product to customer locations are recorded as a component of cost of goods sold. Charges passed on to customers are included in revenues.
Other Non-operating Expense (Income), net 
Other non-operating expense (income), net primarily includes foreign currency exchange (gains) losses, (gains) losses on pension settlements, (gains) losses on Rabbi Trust investments and (gains) losses on the sale of a business.
Stock-Based Compensation 
The Company accounts for stock-based compensation using the fair-value method. For equity-classified awards, the cost is measured at the grant date based on the fair value of the award and is recognized as compensation cost over the requisite service period. This requisite service period typically matches the award's stated vesting period but may be shorter if the award fully vests upon the employee's retirement or termination from the Company. The Company recognizes compensation cost for awards that have graded vesting features under the graded vesting method, which considers each separate vesting tranche as though they were, in substance, a separate award. The Company also accounts for forfeitures of stock-based awards as they occur.
Refer to Note 7 for additional information regarding stock-based compensation.
Income Taxes 
Income taxes include an estimate of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. Deferred tax assets and liabilities reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company uses the portfolio approach for releasing income tax effects associated with amounts reclassified out of accumulated other comprehensive loss.
Refer to Note 8 for further information regarding income taxes.
Cash Equivalents 
Highly liquid investments with a maturity of three months or less when acquired are considered cash equivalents.
Receivables and Allowance for Credit Losses 
Receivables are stated at amortized cost, net of allowances for credit losses. The Company regularly evaluates the creditworthiness of its customers by reviewing their credit information. This assessment determines if any events have occurred subsequent to revenue recognition that indicate the receivable might be realized at an amount less than that recognized at the time of sale. Credit loss estimates are based on historical losses, current economic conditions, geographic considerations, and in some cases, assessments of specific customer accounts for potential risk of loss.
Inventories 
Inventories are valued at the lower of cost and net realizable value, with cost determined primarily on an average cost basis. Cost of inventories includes raw materials, direct and indirect labor, and manufacturing overhead. Manufacturing overhead includes materials; depreciation and amortization related to property, plant and equipment and other intangible assets used directly and indirectly in the acquisition and production of inventory; and costs related to the Company’s distribution network such as inbound freight charges, purchasing and receiving costs, inspection costs, warehousing costs, internal transfer costs and other costs associated with preparing the Company’s products for sale.
Refer to Note 9 for further information regarding inventories.
Property, Plant and Equipment 
Property, plant and equipment are stated at cost including interest costs associated with qualifying capital additions. Costs allocated to property, plant and equipment of acquired companies are based on estimated fair value at the date of acquisition. Depreciation is principally computed on a straight-line basis over the estimated useful lives of the assets. Asset lives are generally 20 to 40 years for buildings, five to 15 years for machinery and equipment and two to 20 years for leasehold improvements. Leasehold improvements are amortized based on the shorter of the underlying lease term or the asset’s estimated useful life.
Refer to Note 10 for further information regarding property, plant and equipment. 
Valuation of Long-Lived Assets 
Long-lived assets or asset groups, including amortizable intangible assets, are tested for impairment whenever events or circumstances indicate that the carrying amount of the asset or asset group may not be recoverable. The Company groups its long-lived assets classified as held and used at the lowest level for which identifiable cash flows are largely independent of the cash flows from other assets and liabilities for purposes of testing for impairment. The Company’s asset groupings vary based on the related business in which the long-lived assets are employed and the interrelationship between those long-lived assets in producing net cash flows; for example, multiple manufacturing facilities may work in concert with one another or may work on a stand-alone basis to produce net cash flows. The Company utilizes its long-lived assets in multiple industries and economic environments and its asset groupings reflect these various factors. 
The Company monitors the operating and cash flow results of its long-lived assets or asset groups classified as held and used to identify whether events and circumstances indicate the remaining useful lives of those assets should be adjusted or if the carrying value of those assets or asset groups may not be recoverable. Undiscounted estimated future cash flows are compared with the carrying value of the long-lived asset or asset group in the event indicators of impairment are identified. If the undiscounted estimated future cash flows are less than the carrying amount, the Company determines the fair value of the asset or asset group and records an impairment charge in current earnings to the extent carrying value exceeds fair value. Fair values may be determined based on estimated discounted cash flows by prices for like or similar assets in similar markets or a combination of both. 
Long-lived assets or asset groups that are part of a disposal group that meets the criteria to be classified as held for sale are not assessed for impairment, but rather a loss is recorded against the disposal group if fair value, less cost to sell, of the disposal group is less than its carrying value.
Goodwill and Other Intangible Assets 
Goodwill is not amortized but is tested for impairment annually, or more often if impairment indicators are present, at a reporting unit level by comparing the fair value of the reporting unit with its carrying value. The Company's annual testing date for goodwill is November 1. The Company determined it had four reporting units within its two reportable segments.
Intangible assets are recognized and recorded at their acquisition date fair values. Intangible assets that are subject to amortization are amortized on a straight-line basis over their useful lives. Definite-lived intangible assets consist primarily of acquired customer relationships, patents and technology, and certain trade names. The Company determines the useful life of its definite-lived intangible assets based on multiple factors including the size and make-up of the acquired customer base, the expected dissipation of those customers over time, the Company’s own experience in the particular industry, the impact of known trends such as technological obsolescence and product demand and the period over which expected cash flows are used to measure the fair value of the intangible asset at acquisition. The Company periodically re-assesses the useful lives of its definite-lived intangible assets when events or circumstances indicate that useful lives have significantly changed from the previous estimate. 
Intangible assets with indefinite useful lives are not amortized but are tested for impairment annually, or more often if impairment indicators are present, by comparing the fair value of the intangible asset with its carrying value. The Company's annual testing date for indefinite-lived intangible assets is November 1. The Company periodically re-assesses indefinite-lived intangible assets as to whether their useful lives can be determined and, if so, begins amortizing any applicable intangible asset.
Refer to Note 11 for additional information regarding goodwill and other intangible assets.
Extended Product Warranty Reserves 
The Company offers extended warranty contracts on sales of certain products; the most significant being those offered on its installed roofing and weatherproofing systems. Current costs of services performed under these contracts are expensed as incurred and included in cost of goods sold. The Company would record a reserve within accrued expenses if the total expected costs of providing services at a product line level exceed unamortized deferred revenues. Total expected costs of providing extended product warranty services are actuarially determined using standard quantitative measures based on historical claims experience and management judgment.
Refer to Note 6 for additional information regarding deferred revenue and extended product warranties.
Pension 
The Company maintains defined benefit pension plans primarily for certain domestic employees. The annual net periodic benefit cost and projected benefit obligations related to these plans are determined on an actuarial basis annually on December 31, unless a remeasurement event occurs in an interim period. This determination requires assumptions to be made concerning general economic conditions (particularly interest rates), expected return on plan assets, increases to compensation levels and mortality rate trends. Changes in the assumptions to reflect actual experience can result in a change in the net periodic benefit cost and projected benefit obligations. 
The defined benefit pension plans’ assets are measured at fair value annually on December 31, unless a remeasurement event occurs in an interim period. The Company uses the market related valuation method to determine the value of plan assets for purposes of determining the expected return on plan assets component of net periodic benefit cost. The market related valuation method recognizes the change of the fair value of the plan assets over five years. If actual experience differs from these long-term assumptions, the difference is recorded as an actuarial gain (loss) and amortized into earnings over a period of time based on the average future service period, which may cause the expense related to providing these benefits to increase or decrease. 
Refer to Note 14 for additional information regarding these plans and the associated plan assets. 
Leases 
The Company determines if an arrangement is a lease at inception by evaluating if the asset is explicitly or implicitly identified or distinct, if the Company will receive substantially all of the economic benefit, or if the lessor has an economic benefit and the ability to substitute the asset.
Right-of-use assets ("ROU assets") represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, measured based on the present value of fixed and known lease payments over the lease term, and recorded in other long-term assets, other current liabilities, and other long-term liabilities. Variable payments are not included in the ROU asset or lease liability and can vary from period to period based on the use of an asset during the period or the Company's proportionate share of common costs. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the
present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and lease expense for these leases is recognized on a straight-line basis over the lease term.
The Company has lease agreements with lease components and non-lease components. The Company has elected to apply the practical expedient to account for these components as a single lease component, for all classes of underlying assets.
Refer to Note 15 for additional information regarding leases.
Contingencies and Insurance Recoveries 
The Company is exposed to losses related to various potential claims related to its employee obligations and other matters in the normal course of business, including commercial, employee, environmental or other regulatory claims. The Company records a liability related to such potential claims, both those reported to the Company and incurred but not yet reported, when probable and reasonably estimable. The Company expenses legal defense costs related to such matters as incurred.
The Company maintains occurrence-based insurance contracts related to certain contingent losses, primarily workers’ compensation, medical and dental, general liability, property, and product liability claims up to applicable retention limits as part of its risk management strategy. The Company records a recovery under these insurance contracts when such recovery is deemed probable. Insurance proceeds in excess of realized losses are gain contingencies and not recorded until realized.
Refer to Note 15 for additional information regarding contingencies and insurance recoveries.
Financial Instruments
From time to time, the Company may enter into derivative financial instruments to hedge various risks to cash flows or the fair value of recognized assets and liabilities, including those arising from fluctuations in foreign currencies, interest rates and commodities. The Company recognizes these instruments at the time they are entered into and measures them at fair value. For instruments that are designated and qualify as cash flow hedges under GAAP, the changes in fair value period-to-period, less any excluded components, are classified in accumulated other comprehensive loss, until the underlying transaction being hedged impacts earnings. The excluded components are recorded in current period income (loss). For those instruments that are designated and qualify as fair value hedges under GAAP, the changes in fair value period-to-period of both the derivative instrument and underlying hedged item are recognized currently in earnings. For those instruments not designated or those that do not qualify as hedges under GAAP, the changes in fair value period-to-period are classified immediately in current period income, within other non-operating expense (income), net.
Other financial instruments include cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and long-term debt. The carrying values for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values because of their short-term nature and negligible credit losses.
Refer to Note 13 for the fair value of long-term debt.
New Accounting Standards Adopted
In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"), which is intended to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments which are intended to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for the Company beginning January 1, 2025, and the Company applied this standard retrospectively. The adoption of this standard did not require an implementation adjustment and did not impact the Company's consolidated net income or cash flows. Refer to Note 8 for updated disclosures.
New Accounting Standards Issued But Not Yet Adopted
In November 2024, the FASB issued ASU 2024-03, Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"), which is intended to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions (such as cost of sales; selling, general, and administrative expenses; and research and development). ASU 2024-03 will be effective for the Company's fiscal year beginning January 1, 2027 and allows the use of a prospective or retrospective approach. The Company plans to adopt the standard on January 1, 2027, and has not yet determined the potential impact.
v3.25.4
Segment Information
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has two reportable segments: 
Carlisle Construction Materials ("CCM")—this segment produces a complete line of premium single-ply roofing products and warranted roof systems and accessories for the commercial building industry, including ethylene propylene diene monomer (“EPDM”), thermoplastic polyolefin (“TPO”) and polyvinyl chloride (“PVC”) membrane, polyiso insulation, and engineered metal roofing and wall panel systems for commercial and residential buildings.
Carlisle Weatherproofing Technologies ("CWT")—this segment produces building envelope solutions that effectively drive energy efficiency and sustainability in commercial and residential applications. Products include high-performance waterproofing and moisture protection products, protective roofing underlayments, fully integrated liquid and sheet applied air/vapor barriers, sealants/primers and flashing systems, roof coatings and mastics, spray polyurethane foam and coating systems for a wide variety of thermal protection applications and other premium polyurethane products, block-molded expanded polystyrene insulation, engineered products for HVAC applications, and premium products for a variety of industrial and surfacing applications.
Carlisle's chief operating decision maker ("CODM") is its Chief Executive Officer. The CODM uses segment operating income in the annual budget and forecasting process. The CODM considers forecast-to-actual variances on a quarterly basis when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses operating income to assess the performance of each segment and determine the compensation of certain employees.
A summary of financial information by reportable segment follows:
Year ended December 31, 2025
(in millions)CCMCWTTotal
Revenue$3,721.7 $1,298.2 $5,019.9 
Cost of goods sold2,309.3 917.0 3,226.3 
Selling and administrative expenses383.2 258.5 641.7 
Research and development expenses32.7 14.4 47.1 
Other operating expense (income), net(1)
(0.7)6.4 5.7 
Segment operating income997.2 101.9 1,099.1 
Corporate and unallocated operating expense96.6 
Interest expense78.5 
Interest income(25.9)
Other non-operating expense (income), net1.1 
Income from continuing operations before income taxes$948.8 
(1)Primarily relates to lease terminations and litigation settlements.
Year ended December 31, 2024
(in millions)CCMCWTTotal
Revenue$3,704.3 $1,299.3 $5,003.6 
Cost of goods sold2,239.0 873.1 3,112.1 
Selling and administrative expenses362.7 238.2 600.9 
Research and development expenses23.7 11.7 35.4 
Other operating expense (income), net(1)
(5.4)2.7 (2.7)
Segment operating income1,084.3 173.6 1,257.9 
Corporate and unallocated operating expense114.8 
Interest expense73.3 
Interest income(60.3)
Other non-operating expense (income), net19.2 
Income from continuing operations before income taxes$1,110.9 
(1)Primarily relates to lease terminations, insurance settlements, and litigation settlements.
Year ended December 31, 2023
(in millions)CCMCWTTotal
Revenue$3,253.4 $1,333.5 $4,586.9 
Cost of goods sold2,035.4 910.2 2,945.6 
Selling and administrative expenses287.3 219.6 506.9 
Research and development expenses18.0 10.7 28.7 
Other operating expense (income), net(1)
(1.2)5.1 3.9 
Segment operating income913.9 187.9 1,101.8 
Corporate and unallocated operating expense119.0 
Interest expense75.6 
Interest income(20.1)
Other non-operating expense (income), net(3.1)
Income from continuing operations before income taxes$930.4 
(1)Primarily relates to (gain)/loss on sale of fixed assets, litigation settlements, and fixed asset impairments.
Other financial information by reportable segment follows:
(in millions)Depreciation and AmortizationCapital Expenditures
2025 
Carlisle Construction Materials$89.3 $86.0 
Carlisle Weatherproofing Technologies103.8 44.9 
Segment Total
193.1 130.9 
Corporate and unallocated
3.4 0.3 
Total$196.5 $131.2 
2024 
Carlisle Construction Materials$80.7 $65.5 
Carlisle Weatherproofing Technologies88.3 35.4 
Segment Total
169.0 100.9 
Corporate and unallocated
3.6 — 
Total$172.6 $100.9 
2023 
Carlisle Construction Materials$57.0 $84.5 
Carlisle Weatherproofing Technologies88.1 26.0 
Segment Total
145.1 110.5 
Corporate and unallocated
6.0 0.3 
Total$151.1 $110.8 
The Company does not report total assets by segment as this is not a metric used by the CODM to allocate resources or evaluate segment performance.
Geographic Area Information
Long-lived assets, excluding deferred tax assets and intangible assets, by region follows: 
(in millions)December 31,
2025
December 31,
2024
United States$838.9 $754.6 
International:  
Europe87.2 74.9 
North America (excluding U.S.)85.3 71.6 
Other0.1 0.3 
Total long-lived assets$1,011.5 $901.4 
v3.25.4
Acquisitions
12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
2025 Acquisitions
Bonded Logic
On June 30, 2025, the Company completed the acquisition of selected assets of Bonded Logic, Inc. and Phoenix Fibers, LLC (collectively, "Bonded Logic"), for cash consideration of $61.4 million, subject to customary post-closing purchase price adjustments that were finalized in the fourth quarter of 2025. Bonded Logic is a U.S. manufacturer of sustainable thermal and acoustical insulation products and is best known for its innovative natural fiber insulation products. The acquisition of Bonded Logic is consistent with Carlisle’s Vision 2030 strategy and its strategic pivot to a pure play building products company. The acquisition reinforces Carlisle’s emphasis on increased investment in innovation, synergistic M&A, delivering on its sustainability commitments, and bringing to market new building envelope products that deliver energy efficiency and contractor labor-savings.
For the period from June 30, 2025 to December 31, 2025, Bonded Logic contributed revenues of $13.5 million and operating loss of $4.0 million. The results of operations of the acquired business are reported as part of the CWT segment.
The acquisition has been accounted for using the acquisition method of accounting in accordance with Accounting Standards Codification ("ASC") 805, Business Combinations. The following table summarizes the consideration transferred to acquire Bonded Logic and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation for all acquired assets and liabilities.
Preliminary AllocationMeasurement Period AdjustmentsPreliminary Allocation
(in millions)As of
6/30/2025
As of
12/31/2025
Total cash consideration transferred$60.7 $0.7 $61.4 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Receivables, net3.2 — 3.2 
Inventories5.0 (0.4)4.6 
Other current assets0.1 (0.1)— 
Property, plant and equipment13.5 — 13.5 
Definite-lived intangible assets9.0 — 9.0 
Other long-term assets10.2 — 10.2 
Accounts payable(3.3)— (3.3)
Other current liabilities(5.2)2.4 (2.8)
Other long-term liabilities(7.7)— (7.7)
Total identifiable net assets24.8 1.9 26.7 
Goodwill$35.9 $(1.2)$34.7 
The goodwill recognized in the acquisition of Bonded Logic reflects the value of the assembled workforce to Carlisle and opportunities for product line expansions. All of the goodwill is deductible for tax purposes and has been preliminarily assigned to the CWT reporting unit. 
All of the $9.0 million preliminarily allocated to other intangible assets relates to a technology asset with a useful life of 15 years.
ThermaFoam
On February 3, 2025, the Company completed the acquisition of selected assets of ThermaFoam Operating LLC, PowerFoam LLC, and ThermaFoam Real Estate LLC (collectively, "ThermaFoam"), for cash consideration of $53.7 million, subject to customary post-closing purchase price adjustments that were finalized in the fourth quarter of 2025. ThermaFoam provides expanded polystyrene insulation products into the commercial, residential, and infrastructure construction markets through both the ThermaFoam and PowerFoam brands. The purchase of ThermaFoam supports Carlisle’s Vision 2030 strategy and strategic pivot to a pure play building products company and leverages Carlisle’s vertically integrated expanded polystyrene capabilities while adding geographic coverage in Texas and the South Central United States.
For the period from February 3, 2025 to December 31, 2025, ThermaFoam contributed revenues of $15.1 million and operating income of $1.0 million. The results of operations of the acquired business are reported as part of the CWT segment.
The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations. The following table summarizes the consideration transferred to acquire ThermaFoam and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation for all acquired assets and liabilities.
Preliminary AllocationMeasurement Period AdjustmentsPreliminary Allocation
(in millions)As of
2/3/2025
As of
12/31/2025
Total cash consideration transferred$52.9 $0.8 $53.7 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Receivables, net2.7 0.2 2.9 
Inventories1.4 — 1.4 
Other current assets0.1 — 0.1 
Property, plant and equipment8.8 — 8.8 
Definite-lived intangible assets6.7 — 6.7 
Accounts payable(0.9)0.1 (0.8)
Other current liabilities(0.6)0.3 (0.3)
Total identifiable net assets18.2 0.6 18.8 
Goodwill$34.7 $0.2 $34.9 
The goodwill recognized in the acquisition of ThermaFoam reflects market participant synergies, the value of the assembled workforce to Carlisle, and market presence expansion. All of the goodwill has been preliminarily assigned to the CWT reporting unit. Goodwill totaled $34.9 million, of which $34.7 million is deductible for tax purposes. 
The preliminary fair values and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life (in years)
Customer relationships$6.5 9
Other intangibles0.2 5
Total$6.7 
2024 Acquisitions
PFB Holdco.
On December 18, 2024, the Company completed the acquisition of 100% of the equity interests of PFB Holdco, Inc. ("PFB") for cash consideration of $266.5 million, including $6.4 million of cash acquired, subject to certain customary purchase price adjustments. PFB is a leading vertically integrated provider of expanded polystyrene insulation products across Canada and the Midwestern United States.
For the period from December 18, 2024 to December 31, 2024, PFB contributed revenues of $1.3 million and operating loss of $1.0 million. The results of operations of the acquired business are reported as part of the CWT segment.
The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations. The following table summarizes the consideration transferred to acquire PFB and the allocation of the purchase price among the assets acquired and liabilities assumed based upon their acquisition date fair values with the remainder allocated to goodwill.
Preliminary AllocationMeasurement Period AdjustmentsFinal Allocation
(in millions)As of
12/18/2024
As of
12/17/2025
Total cash consideration transferred$268.9 $(2.4)$266.5 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents6.4 — 6.4 
Receivables, net9.6 — 9.6 
Inventories14.5 — 14.5 
Prepaid expenses and other current assets6.6 (2.8)3.8 
Property, plant and equipment31.7 (0.3)31.4 
Definite-lived intangible assets112.8 11.5 124.3 
Other long-term assets46.1 3.3 49.4 
Accounts payable(4.6)0.7 (3.9)
Accrued and other current liabilities(27.8)16.1 (11.7)
Deferred income taxes(27.9)(2.2)(30.1)
Other long-term liabilities(43.5)(7.4)(50.9)
Total identifiable net assets123.9 18.9 142.8 
Goodwill$145.0 $(21.3)$123.7 
The Company acquired $9.8 million of gross contractual accounts receivable, of which $0.2 million was not expected to be collected at the date of acquisition.
The goodwill recognized in the acquisition of PFB reflects market participant synergies attributable to significant raw material purchase synergies with CWT, other administrative synergies, the value of the assembled workforce to Carlisle and opportunities for product line expansions. All of the goodwill has been assigned to the CWT reporting unit. None of the goodwill is deductible for tax purposes. 
The fair values and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life (in years)
Customer relationships$81.5 11
Trade names15.0 15
Technologies27.8 11
Total$124.3 
The Company has also recorded, as part of the purchase price allocation, deferred tax liabilities primarily related to intangible assets of approximately $30.1 million.
MTL Holdings
On May 1, 2024, the Company completed the acquisition of 100% of the equity interests of MTL Holdings LLC ("MTL") for cash consideration of $424.6 million, including $10.3 million of cash acquired, subject to post-closing adjustments which were finalized in the third quarter of 2024. MTL is a leading provider of prefabricated perimeter edge metal systems and non-insulated architectural metal wall systems for commercial, institutional and industrial buildings.
For the period from May 1, 2024 to December 31, 2024, MTL contributed revenues of $86.9 million and operating income of $8.5 million. The results of operations of the acquired business are reported as part of the CCM segment.
The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations. The following table summarizes the consideration transferred to acquire MTL and the allocation of the purchase price among the assets acquired and liabilities assumed based upon their acquisition date fair values with the remainder allocated to goodwill.
Preliminary AllocationMeasurement Period AdjustmentsFinal Allocation
(in millions)As of
5/1/2024
As of
4/30/2025
Total cash consideration transferred $423.1 $1.5 $424.6 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents10.3 — 10.3 
Receivables, net14.0 — 14.0 
Inventories17.2 (0.4)16.8 
Prepaid expenses and other current assets0.9 — 0.9 
Property, plant and equipment10.7 (0.3)10.4 
Definite-lived intangible assets248.3 — 248.3 
Other long-term assets8.1 0.3 8.4 
Accounts payable(5.9)— (5.9)
Accrued and other current liabilities(6.1)— (6.1)
Deferred income taxes(6.9)0.4 (6.5)
Other long-term liabilities(6.7)(0.9)(7.6)
Total identifiable net assets283.9 (0.9)283.0 
Goodwill$139.2 $2.4 $141.6 
The Company acquired $14.1 million of gross contractual accounts receivable, of which $0.1 million was not expected to be collected at the date of acquisition.
The goodwill recognized in the acquisition of MTL reflects market participant synergies attributable to significant raw material purchase synergies with CCM, other administrative synergies, the value of the assembled workforce to Carlisle and opportunities for product line expansions. All of the goodwill has been assigned to the Carlisle Architectural Metals reporting unit, which is part of the CCM reportable segment. Goodwill totaled $141.6 million, of which $132.8 million is deductible for tax purposes. 
The fair values and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life (in years)
Customer relationships$183.1 13
Trade names44.6 19
Technologies18.1 11
Software2.5 5
Total$248.3 
The Company has also recorded, as part of the purchase price allocation, deferred tax liabilities primarily related to intangible assets of approximately $6.5 million.
2023 Acquisition
Polar Industries
On November 8, 2023, the Company acquired selected assets of Polar Industries, Inc., Fox Transport, Inc. and LRH, LLC (collectively “Polar”), for consideration of $36.1 million including post-closing adjustments, which were finalized in the first quarter of 2024. Polar is a manufacturer of expanded polystyrene and graphite polystyrene for residential and commercial application.
For the period from November 8, 2023 to December 31, 2023, the related product lines contributed revenues of $2.4 million and operating income of $0.1 million. The results of operations of Polar are reported within the CWT segment.
Consideration of $20.9 million has been allocated to goodwill, all of which is deductible for tax purposes. All of the goodwill was assigned to the CWT reporting unit. Consideration of $2.6 million has been allocated to customer relationships, with a useful life of nine years, $9.4 million to property, plant and equipment, $1.8 million to inventory, $1.8 million to accounts receivable, $0.2 million to accounts payable and $0.2 million to accrued and other current liabilities.
v3.25.4
Discontinued Operations
12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations Discontinued Operations
On May 21, 2024, the Company completed the sale of CIT for cash proceeds of $2.025 billion, subject to certain customary purchase price adjustments, which were finalized in the third quarter of 2024.
On October 2, 2023, the Company completed the sale of CFT for proceeds of $520 million, subject to certain customary purchase price adjustments, which were finalized in the fourth quarter of 2024.
For the year ended December 31, 2025, income from discontinued operations before income taxes was $0.3 million, with a provision for income taxes of $2.1 million.
A summary of the results from discontinued operations included in the Consolidated Statements of Income and Comprehensive Income for 2024 and 2023 follows:
2024
(in millions)CITCFTOtherTotal
Revenues$328.6 $— $— $328.6 
Cost of goods sold237.5 — — 237.5 
Other operating expenses, net34.4 — — 34.4 
Operating income56.7 — — 56.7 
Other non-operating (income) expense, net0.5 24.9 5.4 30.8 
Income (loss) from discontinued operations before income taxes and loss on sale56.2 (24.9)(5.4)25.9 
Loss (gain) on sale of discontinued operations(457.3)2.9 — (454.4)
Income (loss) from discontinued operations before income taxes513.5 (27.8)(5.4)480.3 
Provision for (benefit from) income taxes49.0 (9.5)(5.9)33.6 
Income (loss) from discontinued operations$464.5 $(18.3)$0.5 $446.7 
2023
(in millions)CITCFTOtherTotal
Revenues$886.1 $227.1 $— $1,113.2 
Cost of goods sold666.9 129.2 — 796.1 
Impairment— 24.8 — 24.8 
Other operating expenses, net119.7 55.8 — 175.5 
Operating income99.5 17.3 — 116.8 
Other non-operating (income) expense, net(0.5)— 1.8 1.3 
Income (loss) from discontinued operations before income taxes and gain on sale100.0 17.3 (1.8)115.5 
Pre-close transaction expenses(1)
11.3 — — 11.3 
Loss on sale of discontinued operations— 82.5 — 82.5 
Income (loss) from discontinued operations before income taxes88.7 (65.2)(1.8)21.7 
Provision for (benefit from) income taxes1.3 (26.2)(1.9)(26.8)
Income (loss) from discontinued operations$87.4 $(39.0)$0.1 $48.5 
(1)Includes legal fees and stock-based compensation expenses directly related to the sale incurred prior to the close of the transaction. Upon close of the transaction, these expenses are incorporated into the (gain)/loss on sale of discontinued operations.
For the year ended December 31, 2025, cash used in operating activities from discontinued operations was $1.8 million.
A summary of cash flows from discontinued operations included in the Consolidated Statements of Cash Flows for 2024 and 2023 follows:
2024
(in millions)CITCFTOtherTotal
Net cash provided by (used in) operating activities$8.9 $(18.3)$0.5 $(8.9)
Net cash provided by (used in) investing activities1,986.3 — — 1,986.3 
Net cash provided by (used in) financing activities(1)
(2,024.0)18.3 (0.5)(2,006.2)
Change in cash and cash equivalents from discontinued operations(28.8)— — (28.8)
Cash and cash equivalents from discontinued operations at beginning of period28.8 — — 28.8 
Cash and cash equivalents from discontinued operations at end of period$— $— $— $— 
2023
(in millions)CITCFTOtherTotal
Net cash provided by (used in) operating activities$113.3 $50.7 $0.1 $164.1 
Net cash provided by (used in) investing activities(28.8)509.0 — 480.2 
Net cash provided by (used in) financing activities(1)
(79.6)(571.0)(0.1)(650.7)
Change in cash and cash equivalents from discontinued operations4.9 (11.3)— (6.4)
Cash and cash equivalents from discontinued operations at beginning of period23.9 11.3 — 35.2 
Cash and cash equivalents from discontinued operations at end of period$28.8 $— $— $28.8 
(1)Represents (repayments) or borrowings from the Carlisle cash pool to fund working capital and capital expenditures and return of capital upon sale.
v3.25.4
Earnings Per Share
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Restricted stock awards granted as part of the Company's Incentive Compensation Program participate in nonforfeitable dividends on a one-to-one per-share ratio with common stock. As such, unvested restricted stock awards are considered participating securities in the computation of earnings per share under the two-class method, and undistributed earnings are allocated between common stock and participating securities on a one-to-one per-share basis. The numerator in the computation of basic and diluted earnings per share excludes income allocated to these participating securities.
The denominator in the computation of diluted earnings per share includes the dilutive effect of stock options and performance share awards granted as part of the Company's Incentive Compensation Program. The dilutive effect of stock options is calculated using the treasury stock method when the average market price of the Company's common shares during the reporting period exceeds the exercise price of the options. Performance shares are contingently issuable, and the dilutive effect is based on the number of shares that would have been awarded had the conditions at the end of the reporting period continued until the end of the performance period.
A reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for income from continuing operations follows:
(in millions, except per share amounts)202520242023
Income from continuing operations$742.5 $865.1 $718.9 
   Less: Income allocated to participating securities
1.5 1.7 1.6 
Income available to common stockholders$741.0 $863.4 $717.3 
Shares:   
Basic weighted-average shares outstanding 42.8 46.5 49.9 
   Effect of dilutive securities(1)
0.4 0.6 0.5 
Diluted weighted-average shares outstanding
43.2 47.1 50.4 
Earnings per share from continuing operations attributable to common shares:
   
Basic$17.31 $18.58 $14.38 
Diluted$17.16 $18.34 $14.22 
(1)The computation of diluted earnings per share excludes 0.1 and 0.6 shares of antidilutive stock options for the years ended December 2025 and 2023, respectively. There were no antidilutive stock options for the year ended December 2024.
v3.25.4
Revenue Recognition
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Revenues by End-Market
A summary of revenues disaggregated by end-market follows:
2025
(in millions)CCMCWTTotal
Non-residential construction$3,432.9 $595.8 $4,028.7 
Residential construction288.8 574.3 863.1 
Other— 128.1 128.1 
Total revenues$3,721.7 $1,298.2 $5,019.9 
2024
(in millions)CCMCWTTotal
Non-residential construction$3,414.9 $583.6 $3,998.5 
Residential construction289.4 587.7 877.1 
Other— 128.0 128.0 
Total revenues$3,704.3 $1,299.3 $5,003.6 
2023
(in millions)CCMCWTTotal
Non-residential construction$2,986.0 $543.9 $3,529.9 
Residential construction267.4 667.8 935.2 
Other— 121.8 121.8 
Total revenues$3,253.4 $1,333.5 $4,586.9 
Revenues by Geographic Area
A summary of revenues based on the region to which the product was delivered follows:
2025
(in millions)CCMCWTTotal
United States$3,392.0 $1,108.3 $4,500.3 
International:
Europe231.9 18.8 250.7 
North America (excluding U.S.)75.7 155.3 231.0 
Other22.1 15.8 37.9 
Total international329.7 189.9 519.6 
Total revenues$3,721.7 $1,298.2 $5,019.9 
2024
(in millions)CCMCWTTotal
United States$3,373.7 $1,153.5 $4,527.2 
International:
Europe217.3 20.5 237.8 
North America (excluding U.S.)85.0 109.7 194.7 
Other28.3 15.6 43.9 
Total international$330.6 $145.8 $476.4 
Total revenues$3,704.3 $1,299.3 $5,003.6 
2023
(in millions)CCMCWTTotal
United States$2,949.3 $1,180.8 $4,130.1 
International:
Europe192.7 19.1 211.8 
North America (excluding U.S.)85.4 112.6 198.0 
Other26.0 21.0 47.0 
Total international304.1 152.7 456.8 
Total revenues$3,253.4 $1,333.5 $4,586.9 
Customer Information
QXO Inc. acquired Beacon Roofing Supply Inc. in April 2025. Revenues from QXO, Inc. and Beacon Roofing Supply, Inc. accounted for approximately 16.7%, 17.8% and 16.4% of the Company’s consolidated revenues during the years ended December 31, 2025, 2024 and 2023, respectively. Additionally, revenues from ABC Supply Co. accounted for approximately 16.3%, 15.9% and 15.3% of the Company's consolidated revenues during the years ended December 31, 2025, 2024 and 2023, respectively. Sales to both of these customers originate in the CCM and CWT segments. No other customers accounted for more than 10.0% of the Company’s consolidated revenues for the years ended December 31, 2025, 2024 and 2023.
Contract Liabilities
The Company receives payment at inception of contracts for separately priced extended service warranties. The related revenue is deferred and recognized on a straight-line basis over the life of the contracts. Remaining performance obligations for extended service warranties represent the transaction price for the remaining stand-ready obligation to perform warranty services. A summary of the change in contract liabilities follows:
(in millions)202520242023
Balance as of January 1$350.5 $324.0 $294.8 
Revenue deferred52.5 55.3 56.1 
Revenue recognized(30.7)(28.8)(26.9)
Balance as of December 31$372.3 $350.5 $324.0 
A summary of estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2025 follows:
(in millions)20262027202820292030Thereafter
Extended service warranties$29.8 $29.3 $28.2 $27.3 $26.4 $231.3 
v3.25.4
Stock-Based Compensation
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Incentive Compensation Program 
The Company maintains an Incentive Compensation Program, as amended and restated effective January 1, 2024 (the “Program”), under which the Company may award stock options and other equity-based incentives to the Company’s directors, officers, employees or consultants. The Program was originally approved by the Company’s stockholders at the Company's 2024 Annual Meeting of Stockholders. As of December 31, 2025, 2.7 million shares remained available for issuance under the Program, and 0.8 million of those shares were available for grant as restricted shares, performance shares or other “full value” awards.
During the year ended December 31, 2025, the Company awarded 108 thousand stock options, 30 thousand restricted stock awards and 20 thousand performance share awards as part of the Program with an aggregate grant-date fair value of approximately $35.4 million to be recognized over the requisite service period for each award.
Stock-based compensation cost by award type follows:
(in millions)202520242023
Stock option awards$13.1 $14.0 $14.4 
Restricted stock awards10.8 9.4 8.3 
Performance share awards10.5 9.4 8.8 
Total stock-based compensation cost incurred34.4 32.8 31.5 
Capitalized cost during the period(1.9)(3.3)(4.5)
Amortization of capitalized cost during the period2.3 3.4 4.7 
Total stock-based compensation expense$34.8 $32.9 $31.7 
Income tax benefit$17.8 $18.7 $11.4 
Stock Option Awards 
Stock options awarded under the Program generally vest on a straight-line basis over a three-year period on the anniversary date of the grant. All stock options have a maximum contractual term of 10 years. Shares issued to cover stock options issued under the Program may be issued from shares held in treasury, from new issuances of shares or a combination of the two. Unrecognized compensation cost from continuing operations related to stock options of $7.5 million as of December 31, 2025, is to be recognized over a weighted-average period of 1.5 years.
The Company determines the fair value of its stock options using the Black-Scholes-Merton option pricing model. The weighted average assumptions used in the determination of fair value for stock options follow:
202520242023
Expected dividend yield1.0 %1.2 %1.2 %
Expected term (in years)
4.54.74.6
Expected volatility28.7 %32.1 %32.4 %
Risk-free interest rate4.2 %3.9 %3.6 %
The expected dividend yield is based on the latest quarterly dividend payment per share, annualized, divided by the average three-month stock price as of the date of grant. The expected term is based on the assumption that all outstanding stock options will be exercised at the midpoint of the valuation date (if vested) or the vesting dates (if unvested) and the stock options’ expiration date. The expected volatility is based on historical volatility and the implied volatility of the Company’s call options. The risk-free interest rate is based on rates of U.S. Treasury issues with a remaining life equal to the expected term of the stock option.
A summary of stock options outstanding and activity follows:
Number of Units
(in thousands)
Weighted-Average Exercise Price
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2024875 $227.97 
Options granted108 395.46 
Options exercised(119)195.71 
Options forfeited / expired(36)304.86 
Outstanding as of December 31, 2025828 251.17 6.0$64.6 
Vested and exercisable as of December 31, 2025606 219.08 5.2$61.2 
Additional information related to stock option activity during the years ended December 31 follows:
202520242023
Weighted-average grant date fair value (per share)$112.37 $97.11 $74.20 
Intrinsic value of options exercised (in millions)21.1 118.2 23.5 
Restricted Stock Awards
Restricted stock awarded under the Program is generally released to the recipient after a period of approximately three years. Unrecognized compensation cost from continuing operations related to restricted stock of $9.3 million as of December 31, 2025, is to be recognized over a weighted-average period of 1.7 years.
A summary of restricted stock outstanding and activity follows:
Number of Shares
(in thousands)
Weighted-Average Grant Date Fair Value
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2024100 $265.53 
Shares granted30 387.39 
Shares vested(35)245.31 
Shares forfeited(2)330.78 
Outstanding as of December 31, 202593 312.23 1.0$29.7 
Additional information related to restricted stock award activity during the years ended December 31 follows:
202520242023
Weighted-average grant date fair value (per share)$387.39 $337.83 $250.83 
Intrinsic value of restricted stock awards vested (in millions)12.7 18.5 10.7 
Performance Share Awards
Performance shares are granted for a three-year performance period, after which the actual number of performance shares earned by an employee is determined by the Company's attainment of a management objective which is based on the Company’s relative total stockholder return versus the S&P Midcap 400 Index® over a three-year time period. Unrecognized compensation cost from continuing operations related to performance share awards of $10.7 million as of December 31, 2025, is to be recognized over a weighted-average period of 1.7 years.
The Company utilizes the Monte-Carlo simulation approach based on a three-year measurement period to determine the fair value of performance shares. Such approach entails the use of assumptions regarding the future performance of the Company’s stock and those of the S&P Midcap 400 Index®. Those assumptions include expected volatility, risk-free interest rates, correlation coefficients and dividend reinvestment. Dividends accrue on the performance shares during the performance period and are to be paid in cash based upon the number of awards ultimately earned.
A summary of performance shares outstanding and activity follows:
Number of Shares
(in thousands)
Weighted-Average Grant Date Fair Value
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 202490 $368.42 
Awards granted20 570.01 
Awards vested(71)310.22 
Awards converted35 310.37 
Awards forfeited(2)482.33 
Outstanding as of December 31, 202572 449.29 0.9$23.2 
Additional information related to performance share activity during the years ended December 31 follows:
202520242023
Weighted-average grant date fair value (per share)$570.01 $467.92 $368.47 
Intrinsic value of performance share awards vested (in millions)24.8 31.0 19.9 
v3.25.4
Income Taxes
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Sources of Pre-Tax Income and Related Tax Provision by Region
Geographic sources of income before income taxes consists of the following:
(in millions)202520242023
Continuing operations:   
U.S. domestic$942.1 $1,106.5 $924.1 
Foreign6.7 4.4 6.3 
Income from continuing operations before income taxes948.8 1,110.9 930.4 
Discontinued operations:   
U.S. domestic0.3 (15.2)(121.9)
Foreign— 495.5 143.6 
Income from discontinued operations before income taxes0.3 480.3 21.7 
Total income before income taxes$949.1 $1,591.2 $952.1 
The provision for income taxes from continuing operations consists of the following:
(in millions)202520242023
Current provision:   
Federal$153.4 $231.7 $195.8 
State41.9 50.4 39.4 
Foreign1.2 22.8 4.5 
Total current provision196.5 304.9 239.7 
Deferred provision:   
Federal15.5 (27.8)(18.2)
State(1.7)(7.8)(2.0)
Foreign(4.0)(23.5)(8.0)
Total deferred provision9.8 (59.1)(28.2)
Total provision for income taxes$206.3 $245.8 $211.5 
Rate Reconciliation
A reconciliation of the tax provision from continuing operations computed at the U.S. federal statutory rate to the actual tax provision follows:
202520242023
(in millions, except percentages)AmountPercentAmountPercentAmountPercent
Taxes at U.S. statutory rate$199.221.0 %$233.321.0 %$195.421.0 %
State and local taxes, net of federal income tax benefit(1)
31.43.3 33.83.0 31.43.4 
Tax credits(12.6)(1.3)(9.1)(0.8)(3.3)(0.4)
Other, net(11.7)(1.2)(12.2)(1.1)(12.0)(1.3)
Effective Tax Rate$206.321.7 %$245.822.1 %$211.522.7 %
(1)State taxes in California, Florida, Illinois, Massachusetts, Minnesota, New Jersey, Pennsylvania, and Wisconsin made up the majority (greater than 50 percent) of the tax effect in this category.
Income Taxes Paid
Cash payments for income taxes, net of refunds, were as follows:
(in millions)202520242023
Federal$137.9 $259.4 $190.2 
State38.0 50.2 41.5 
Foreign29.6 14.6 16.0 
Total$205.5 $324.2 $247.7 
Deferred Tax Assets (Liabilities), net
(in millions)December 31,
2025
December 31,
2024
U.S. federal tax attributes$39.7 $37.6 
Deferred revenue37.1 35.9 
Employee benefits30.0 30.9 
Capitalized research and development costs— 29.4 
Lease liabilities27.3 22.8 
U.S. state tax attributes22.2 19.2 
Non-U.S. tax attributes18.3 15.7 
Other, net26.0 21.7 
Gross deferred assets200.6 213.2 
Valuation allowances(52.0)(51.7)
Deferred tax assets after valuation allowances148.6 161.5 
Intangibles(297.7)(308.1)
Property, plant and equipment(54.3)(47.7)
Right of use assets(25.7)(21.6)
Undistributed foreign earnings(6.7)(6.3)
Gross deferred liabilities(384.4)(383.7)
Net deferred tax liabilities$(235.8)$(222.2)
Deferred tax assets and liabilities are classified as long-term. Foreign deferred tax assets and liabilities are grouped separately from U.S. domestic assets and liabilities and are analyzed on a jurisdictional basis.
Deferred tax assets and liabilities included in the Consolidated Balance Sheet follow:
(in millions)December 31,
2025
December 31,
2024
Other long-term assets$9.8 $6.0 
Deferred taxes(245.6)(228.2)
Net deferred tax liabilities$(235.8)$(222.2)
Valuation Allowances
As of December 31, 2025, the Company had a deferred tax asset related to federal capital loss carryforwards of $37.6 million, which expire in 2029. The Company believes it is likely the carryforwards will expire unused and therefore has established a full valuation allowance. As of December 31, 2025, the Company had foreign tax credit carryforwards for U.S. federal tax purposes of $2.1 million, which begin to expire in 2030. The Company believes it is likely the credits will expire unused and therefore has established a full valuation allowance. As of December 31, 2025, the Company also had a deferred tax asset for state tax attributes of approximately $22.2 million, which begin to expire in 2026, comprised primarily of capital loss carryforwards, in addition to net operating losses (“NOL”) and credits. The Company believes that it is likely that the capital losses and certain of the state NOLs will expire unused and therefore has established a valuation allowance of approximately $11.4 million against the deferred tax assets associated with these attributes. The Company also has deferred tax assets related to carryforwards in foreign jurisdictions of approximately $18.3 million, comprised of NOL and interest expense carryforwards, which begin to expire in 2026. The Company believes that it is likely that certain foreign NOL carryforwards will expire unused and therefore has established a valuation allowance of approximately $0.9 million.
Undistributed Foreign Earnings
The Company has determined that an amount attributable to certain foreign cash balances and other certain assets is not permanently reinvested for withholding tax purposes, which results in an accrual of $6.7 million. It is not practicable to calculate deferred tax balances on other basis differences.
Unrecognized Tax Benefits
Unrecognized tax benefits reflect the difference between the tax benefits of positions taken or expected to be taken on income tax returns and the tax benefits that meet the criteria for current recognition in the financial statements. The Company periodically assesses its unrecognized tax benefits. 
A summary of the movement in gross unrecognized tax benefits (before estimated interest and penalties) follows:
(in millions)202520242023
Balance as of January 1$9.6 $7.3 $6.4 
Additions based on tax positions related to current year3.6 3.1 3.3 
Reductions due to statute of limitations(0.8)(0.8)(2.7)
Reductions due to settlements— — (0.2)
Adjustments due to foreign exchange rates(0.3)— 0.5 
Balance as of December 31$12.1 $9.6 $7.3 
If the unrecognized tax benefits as of December 31, 2025 were to be recognized, approximately $10.7 million would impact the Company’s effective tax rate. The amount impacting the Company’s effective rate is calculated by adding accrued interest and penalties to the gross unrecognized tax benefit excluding positions related to discontinued operations and subtracting the federal tax benefit associated with state taxes and interest.
The Company classifies and reports interest and penalties associated with unrecognized tax benefits as a component of the income tax provision on the Consolidated Statements of Income and as an other long-term liability on the Consolidated Balance Sheets. The total amount of such interest and penalties accrued, but excluded from the table above, at the years ending December 31, 2025, 2024 and 2023 were $1.4 million, $1.2 million and $1.2 million, respectively.
The Company is subject to U.S. federal income tax as well as income tax in multiple state and foreign jurisdictions. The Company participates in the IRS compliance assurance program and is currently up to date.
Generally, state income tax returns are subject to examination for a period of three years to five years after filing. Substantially all material state tax matters have been concluded for tax years through 2019. Various state income tax returns for subsequent years are in the process of examination. At this stage the outcome is uncertain; however, the Company believes that contingencies have been adequately provided for. Statutes of limitation vary among the foreign jurisdictions in which the Company operates. Substantially all foreign tax matters have been concluded for tax years through 2014. The Company believes that foreign tax contingencies associated with income tax examinations underway or open tax years have been provided for adequately.
Tax Legislation
The Organization for Economic Co-operation and Development (“OECD”) has introduced a framework to implement a global minimum corporate tax of 15%, referred to as Pillar Two. Certain countries in which the Company operates have adopted legislation. On January 5, 2026, the OECD released the Side-by-Side addition to the framework, recognizing the US as a qualified regime and limiting the application of Pillar Two taxes to US headquartered multinationals, such as Carlisle, starting in 2026. Carlisle does not expect material tax effects related to Pillar Two.
On July 4, 2025, the One Big Beautiful Bill Act was signed into law. The Company has evaluated and incorporated the effects of the legislation into its income tax balances.
v3.25.4
Inventories
12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
A summary of the Company's inventories follows:
(in millions)December 31,
2025
December 31,
2024
Raw materials$169.6 $157.0 
Work-in-process25.1 26.1 
Finished goods266.5 299.8 
Reserves(13.9)(10.2)
Inventories$447.3 $472.7 
v3.25.4
Property, Plant and Equipment
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
A summary of the Company's property, plant and equipment follows:
(in millions)December 31,
2025
December 31,
2024
Land$57.8 $50.8 
Buildings and leasehold improvements500.7 475.0 
Machinery and equipment828.5 763.5 
Projects in progress194.1 125.0 
Property, plant and equipment, gross1,581.1 1,414.3 
Accumulated depreciation(774.0)(702.5)
Property, plant and equipment, net$807.1 $711.8 
v3.25.4
Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets 
Goodwill
The changes in the carrying amount of goodwill by reportable segment follows:
(in millions)CCMCWTTotal
Balance as of December 31, 2023$934.7 $267.8 $1,202.5 
Goodwill acquired during year (1)
141.0 145.0 286.0 
Currency translation and other(2.6)(7.9)(10.5)
Balance as of December 31, 2024$1,073.1 $404.9 $1,478.0 
Goodwill acquired during year (1)
— 69.6 69.6 
Currency translation and other5.8 (14.5)(8.7)
Balance as of December 31, 2025$1,078.9 $460.0 $1,538.9 
(1)Refer to Note 3 for further information on goodwill resulting from recent acquisitions.
Other Intangible Assets
A summary of the Company's other intangible assets follows:
December 31, 2025December 31, 2024
(in millions)Acquired CostAccumulated AmortizationNet Book ValueAcquired CostAccumulated AmortizationNet Book Value
Customer relationships$1,479.6 $(483.6)$996.0 $1,456.0 $(380.5)$1,075.5 
Indefinite-lived trade names254.4 — 254.4 252.0 — 252.0 
Technology
203.3 (116.6)86.7 185.6 (103.4)82.2 
Definite-lived trade names117.6 (43.1)74.5 117.0 (37.0)80.0 
Other44.3 (30.4)13.9 37.8 (22.6)15.2 
Other intangible assets$2,099.2 $(673.7)$1,425.5 $2,048.4 $(543.5)$1,504.9 
The remaining weighted-average amortization period of intangible assets subject to amortization as of December 31, 2025, follows (in years):
Customer relationships12.3
Technology7.3
Definite-lived trade names14.6
Other1.4
Total assets subject to amortization11.9
Intangible assets subject to amortization as of December 31, 2025, will be amortized as follows:
(in millions)20262027202820292030Thereafter
Estimated future amortization expense
$123.5 $109.6 $105.9 $99.1 $90.7 $642.3 
The net carrying values of the Company’s other intangible assets by reportable segment follows:
(in millions)December 31,
2025
December 31,
2024
Carlisle Construction Materials$314.9 $343.0 
Carlisle Weatherproofing Technologies 1,110.2 1,159.7 
Corporate0.4 2.2 
Total$1,425.5 $1,504.9 
v3.25.4
Other Current Liabilities
12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Other Current Liabilities Other Current Liabilities
A summary of the Company's other current liabilities follows:
(in millions)December 31,
2025
December 31,
2024
Accrued customer incentives$117.9 $112.2 
Accrued compensation and benefits78.9 96.3 
Accrued income and other taxes147.8 55.3 
Other158.4 140.9 
Other current liabilities$503.0 $404.7 
v3.25.4
Long-term Debt
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Long-term Debt Long-term Debt
A summary of the Company's long-term debt follows:
 
Fair Value (1)
(in millions)December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024
5.55% Notes due 2040
$500.0 $— $505.6 $— 
5.25% Notes due 2035
500.0 — 511.1 — 
2.20% Notes due 2032
550.0 550.0 479.4 448.7 
2.75% Notes due 2030
750.0 750.0 707.8 672.2 
3.75% Notes due 2027
600.0 600.0 597.1 584.1 
Unamortized discount and debt issuance costs(27.3)(16.4)
Other13.7 7.0 
Total debt2,886.4 1,890.6   
Less: current portion of debt4.8 3.2   
Long-term debt$2,881.6 $1,887.4   
(1)The fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities. Based on these inputs, debt instruments are classified as Level 2 in the fair value hierarchy.
5.55% Notes Due 2040
On August 20, 2025, the Company completed a public offering of $500.0 million in aggregate principal amount of unsecured senior notes with a stated interest rate of 5.55% due September 15, 2040 (the “2040 Notes”). The 2040 Notes were issued at a discount of $7.3 million, resulting in proceeds to the Company of $492.7 million before $1.0 million of issuance costs. The discount and issuance costs are reflected within long-term debt on the Condensed Consolidated Balance Sheets and are amortized to interest expense using the effective interest method over the life of the 2040 Notes. Interest is payable each March 15 and September 15, commencing March 15, 2026.
5.25% Notes Due 2035
On August 20, 2025, the Company completed a public offering of $500.0 million in aggregate principal amount of unsecured senior notes with a stated interest rate of 5.25% due September 15, 2035 (the “2035 Notes”). The 2035 Notes were issued at a discount of $5.0 million, resulting in proceeds to the Company of $495.0 million before $1.0 million of issuance costs. The discount and issuance costs are reflected within long-term debt on the Condensed Consolidated Balance Sheets and are amortized to interest expense using the effective interest method over the life of the 2035 Notes. Interest is payable each March 15 and September 15, commencing March 15, 2026.
2.20% Notes Due 2032
On September 28, 2021, the Company completed a public offering of $550.0 million in aggregate principal amount of unsecured senior notes with a stated interest rate of 2.20% due March 1, 2032 (the “2032 Notes”). The 2032 Notes were issued at a discount of $4.8 million, resulting in proceeds to the Company of $545.2 million. The Company incurred costs to issue the 2032 Notes of approximately $1.1 million, inclusive of credit rating agencies’ and attorneys’ fees and other costs. The discount and issuance costs are reflected within long-term debt on the Consolidated Balance Sheets and are amortized to interest expense using the effective interest method over the life of the 2032 Notes. Interest is payable each March 1 and September 1.
2.75% Notes Due 2030
On February 28, 2020, the Company completed a public offering of $750.0 million of unsecured senior notes with a stated interest rate of 2.75% due March 1, 2030 (the “2030 Notes”). The 2030 Notes were issued at a discount of $9.3 million, resulting in proceeds to the Company of $740.7 million. The Company incurred costs, primarily underwriting fees, to issue the 2030 Notes of approximately $6.5 million. Additionally in the first quarter of 2020, the Company entered into interest rate derivative instruments to hedge variability in future interest payments on the 2030 Notes of the 10-year US Treasury Rate ("treasury locks"), which were designated as hedges, and settled resulting in a loss of $16.4 million. The discount and issuance costs of $15.8 million are reflected within long-term debt on the Consolidated Balance Sheets, and the loss on treasury locks is reflected in accumulated other comprehensive loss on the Consolidated Balance Sheets. These costs are amortized to interest expense over the life of the 2030 Notes using the effective interest method. Interest is paid each March 1 and September 1.
3.75% Notes Due 2027
On November 16, 2017, the Company completed a public offering of $600.0 million of notes with a stated interest rate of 3.75% due December 1, 2027 (the “2027 Notes”). The 2027 Notes were issued at a discount of $2.4 million, resulting in proceeds to the Company of $597.6 million. The Company incurred costs to issue the 2027 Notes of approximately $7.7 million, inclusive of underwriters’, credit rating agencies’ and attorneys’ fees and other costs. The discount and issuance costs are reflected within long-term debt on the Consolidated Balance Sheets and are amortized to interest expense over the life of the 2027 Notes. Interest is paid each June 1 and December 1.
Notes Terms and Redemption Features 
The 2040, 2035, 2032, 2030, and 2027 Notes (collectively, the “Notes”) may be redeemed at the Company's option, in whole or in part, plus accrued and unpaid interest, at any time prior to the dates stated below, at a price equal to the greater of (i) 100.0% of the principal amounts; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semi-annual basis at the Treasury Rate plus a spread (noted below). The Notes may also be redeemed at any time after the dates noted below, in whole or in part, at the Company's option at 100.0% of the principal amount, plus accrued and unpaid interest.
Debt InstrumentDateSpread
5.55% Notes due 2040
June 15, 204025 basis points
5.25% Notes due 2035
June 15, 203520 basis points
2.20% Notes due 2032
December 1, 203120 basis points
2.75% Notes due 2030
December 1, 202920 basis points
3.75% Notes due 2027
September 1, 202725 basis points
Upon a change-in-control triggering event, the Company will be required to offer to repurchase the Notes at 101.0% of the principal amount, plus accrued and unpaid interest. 
The Notes are subject to the restrictive covenants and limitations contained in the Company's indenture dated January 15, 1997, as amended. The Notes are general unsecured obligations of the Company and rank equally with the Company's existing and future unsecured and unsubordinated indebtedness. The Notes are subordinate to any existing or future debt or other liabilities of the Company's subsidiaries. 
Revolving Credit Facility 
The Company and Carlisle, LLC, as co-borrowers, are parties to a Fifth Amended and Restated Credit Agreement (the "Credit Agreement") that provides for a $1.0 billion unsecured revolving line of credit with a maturity date of April 3, 2029. Borrowings under the Credit Agreement bear interest, at the Company's election, (i) at the Base Rate plus a margin ranging from —% to 0.50% or (ii) at the applicable benchmark rate plus a margin ranging from 0.825% to 1.500%, in each case, based on the Company’s debt rating from time to time. The benchmark rate for loans denominated in (i) U.S. dollars is the Adjusted Term SOFR Rate, (ii) Canadian dollars is the Adjusted Term CORRA Rate, (iii) Sterling is Daily Simple SONIA, (iv) euros is the Adjusted EURIBOR Rate and (v) yen is Adjusted TIBOR Rate. The commitments are also subject to a facility fee on the daily aggregate amount of the revolving commitment (whether used or unused) ranging from 0.05% to 0.25% based on the Company’s debt rating from time to time. Funding of the loans under the Credit Agreement is subject to customary drawdown conditions. The Company incurred $1.9 million of financing costs in 2024 in connection with finalizing the Credit Agreement, which together with any existing unamortized costs, will be recognized ratably over the extended maturity date of the Credit Agreement.
The Credit Agreement has a feature that allows the Company to increase availability, at its option, by an aggregate amount of up to $500.0 million through increased commitments from existing lenders or the addition of new lenders. The Company may also enter into commitments in the form of standby, commercial, or direct pay letters of credit for an amount not to exceed $50.0 million. 
As of December 31, 2025, the Company had no outstanding balance and $1.0 billion available under the Credit Agreement. During 2025, there were no borrowings and repayments under the Credit Agreement. During 2024, the Company had $22.0 million in borrowings and repayments under the Credit Agreement with a weighted average interest rate of 8.50%.
Covenants and Limitations 
The Notes and the Credit Agreement require the Company to meet various restrictive covenants and limitations, including certain leverage and interest coverage ratios and limits on outstanding debt balances held by certain subsidiaries. The Company was in compliance with all covenants and limitations as of December 31, 2025, and 2024.
Letters of Credit and Guarantees 
During the normal course of business, the Company enters into commitments in the form of letters of credit and bank guarantees to provide its own financial and performance assurance to third parties. The Company has not issued any guarantees on behalf of any third parties. As of December 31, 2025, and 2024, the Company had $48.8 million and $22.8 million, respectively, in letters of credit and bank guarantees outstanding. The Company has multiple arrangements for up to $100.0 million in letters of credit, of which $51.2 million was available as of December 31, 2025.
Interest Payments 
Cash payments for interest were $56.2 million, $70.2 million and $71.9 million in 2025, 2024, and 2023, respectively.
v3.25.4
Employee Benefit Plans
12 Months Ended
Dec. 31, 2025
Employee Benefit Plans [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Defined Benefit Plans 
The Company maintains defined benefit retirement plans, primarily for certain domestic employees, as presented below. All plans are frozen to new entrants, with the exception of the executive supplemental plan. Benefits are based primarily on years of service and earnings of the employee.
The significant assumptions used in the measurement of the projected benefit obligation and net periodic benefit cost primarily include the discount rate, rate of compensation increase and expected long-term return on plan assets. Weighted-average assumptions for the projected benefit obligation follow:
 December 31,
2025
December 31,
2024
Discount rate5.2 %5.5 %
Rate of compensation increase3.8 %3.8 %
Weighted-average assumptions for net periodic benefit cost follow:
 202520242023
Discount rate5.5 %4.8 %5.1 %
Rate of compensation increase3.8 %3.8 %3.8 %
Expected long-term return on plan assets6.7 %6.0 %6.0 %
The weighted-average cash balance interest crediting rate for the Company's cash balance defined benefit plans was 4.0% for the years ended December 31, 2025, 2024, and 2023.
The Company considers several factors in determining the long-term rate of return for plan assets. Asset-class return expectations are set using a combination of empirical and forward-looking analyses. Capital market assumptions for the composition of the Company’s asset portfolio are intended to capture the behavior of asset classes observed over several market cycles. The Company also looks to historical returns for reasonableness and appropriateness.
A reconciliation of the change in the projected benefit obligation, plan assets and the funded status follows: 
(in millions)20252024
Funded status  
Projected benefit obligation  
Balance as of January 1$71.0 $134.3 
Change in benefit obligation:  
Service cost1.8 2.2 
Interest cost3.4 5.5 
Actuarial (gain) loss1.8 (8.4)
Benefits paid and transferred(9.8)(62.6)
Balance as of December 31$68.2 $71.0 
Fair value of plan assets  
Balance as of January 1$58.2 $114.8 
Change in plan assets:  
Actual gain on plan assets4.8 3.9 
Company contributions1.5 2.1 
Benefits paid and transferred(9.8)(62.6)
Balance as of December 31$54.7 $58.2 
Unfunded status as of December 31$(13.5)$(12.8)
Accumulated benefit obligation as of December 31$67.1 $70.8 
The Company’s projected benefit obligation includes approximately $17.3 million and $17.7 million related to the Company’s executive supplemental and director defined benefit pension plans as of December 31, 2025 and 2024, respectively. The Company’s accumulated benefit obligation includes approximately $16.3 million and $17.5 million related to the Company’s executive supplemental and director defined benefit pension plans as of December 31, 2025 and 2024, respectively. The executive supplemental and director defined benefit plans have no plan assets and the Company is not required to pre-fund the obligations.
Pension assets and liabilities included in the Consolidated Balance Sheet follow:
(in millions)December 31,
2025
December 31,
2024
Other long-term assets$3.8 $4.9 
Other current liabilities(1.3)(1.6)
Other long-term liabilities(16.0)(16.1)
Net pension liabilities$(13.5)$(12.8)
The amounts included in accumulated other comprehensive loss that have not been recognized in net periodic pension cost follow:
(in millions)December 31,
2025
December 31,
2024
Unrecognized actuarial losses (gross)$20.5 $22.9 
Unrecognized actuarial losses (net of tax)16.0 17.7 
Unrecognized prior service costs (gross)0.4 0.4 
Unrecognized prior service costs (net of tax)0.3 0.3 
The components of net periodic benefit cost follow:
(in millions)202520242023
Service cost$1.8 $2.2 $2.1 
Interest cost3.4 5.5 6.3 
Expected return on plan assets(4.3)(7.0)(8.2)
Amortization of unrecognized net loss0.7 1.8 1.3 
Amortization of unrecognized prior service cost0.1 0.1 0.1 
Settlement expense 3.0 21.1 — 
Net periodic benefit cost$4.7 $23.7 $1.6 
The Company employs a liability driven investment approach whereby plan assets are invested primarily in fixed income investments to match the changes in the projected benefit obligation of funded plans related to changes in interest rates. Risk tolerance is established through careful consideration of projected benefit obligations, plan funded status and the Company’s other obligations and strategic investments. 
The established target allocation is 88.0% fixed income securities and 12.0% equity securities. Fixed income investments are diversified across U.S. treasury, long and intermediate duration and high yield bonds. Equity investments are diversified across large capitalization U.S. and international stocks. Investment risk is measured and monitored on an ongoing basis through investment portfolio reviews, annual projected benefit liability measurements and asset/liability studies.
The fair value measurement of the plans’ assets by asset category follows:
 Quoted Prices in Active Markets for Identical Assets (Level 1)
(in millions)December 31,
2025
December 31,
2024
Cash$3.5 $4.7 
U.S. treasury bonds6.7 6.4 
Mutual funds:  
Equity mutual funds (1)
6.7 5.6 
Fixed income mutual funds (2)
37.8 41.5 
Total$54.7 $58.2 
(1)This category is comprised of investments in mutual funds that invest in equity securities such as large publicly traded companies listed in the S&P 500 Index; small to medium sized companies with market capitalization in the range of the Russell 2500 Index; and foreign issuers in emerging markets.
(2)This category is comprised of investments in mutual funds that invest in U.S. corporate fixed income securities, including asset-backed securities; high yield fixed income securities primarily rated BB, B, CCC, CC, C and D; and US dollar denominated debt securities of government, government related and corporate issuers in emerging market countries.
The Company made contributions of $1.5 million and $2.1 million during 2025 and 2024, respectively. Contributions of $1.5 million and $1.6 million in 2025 and 2024, respectively, pertain to the Company’s executive supplemental and director defined benefit pension plans. This contribution covers current participant benefits as these plans have no plan assets. No minimum contributions to the pension plans were required in 2025 and 2024. During 2026, the Company expects to pay approximately $1.3 million in participant benefits under the executive supplemental and director plans.
A summary of estimated future benefits to be paid for the Company’s defined benefit pension plans as of December 31, 2025, follows:
(in millions)202620272028202920302031-2035
Estimated benefit payments$9.5 $7.0 $6.6 $6.5 $5.9 $29.7 
Pension Settlement
The Company recognizes a pension settlement gain or loss when the cost of all settlements in a year is greater than the sum of the service cost and interest cost components of net periodic benefit cost. Total settlements for the year ended December 31, 2025, exceeded the sum of service and interest costs, which resulted in the Company recognizing a non-cash pre-tax pension settlement charge of $3.0 million for the year.
On October 17, 2024, the Company entered into an agreement with an insurance company to purchase a nonparticipating single premium group annuity contract. In selecting the insurance company, the Company utilized guidance from the U.S. Department of Labor Interpretive Bulletin 95-1. Using plan assets, the Company transferred $55.0 million of certain defined benefit pension obligations to the insurance company. The contract covers approximately 1,300 Carlisle plan participants and beneficiaries (the "Transferred Participants"). Under this contract, the insurance company made an unconditional and irrevocable commitment to pay the pension benefits of each Transferred Participant that are due on or after January 1, 2025. The transaction did not change the amount of benefits payable to the Transferred Participants.
As a result of the transaction, the Company recognized non-cash pre-tax pension settlement charges of $21.1 million in the fourth quarter of 2024 related to the accelerated recognition of actuarial losses included within accumulated other comprehensive loss. The transaction also required the Company to remeasure the benefit obligations and plan assets as of the settlement date. The remeasurement reflected the use of an updated discount rate as of the remeasurement date of 5.0%, as compared to the discount rate of 4.8% that was used to determine benefit obligations as of December 31, 2023.
Defined Contribution Plans
401K Plan
The Company maintains defined contribution savings plans covering a significant portion of its eligible employees. Participant contributions are matched by the Company up to a 4.0% maximum of eligible compensation, subject to compensation and contribution limits as defined by the Internal Revenue Service. Employer contributions for the savings plan were $17.4 million, $17.5 million, and $19.9 million in 2025, 2024 and 2023, respectively.
v3.25.4
Commitments and Contingencies
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases
Lease Costs, Assets and Liabilities
The Company has operating leases primarily for manufacturing facilities, warehouses, offices and certain equipment. These leases have remaining lease terms that range from less than one to 16 years. Certain leases include one or more renewal options that may extend the lease term by an additional one to 10 years or more. The components of lease cost follow:
(in millions)202520242023
Operating lease cost
$37.6 $26.6 $21.2 
Variable lease cost
7.8 8.5 5.5 
Short-term lease cost10.8 8.1 6.9 
Total lease cost$56.2 $43.2 $33.6 
A summary of operating lease assets and liabilities included in the Consolidated Balance Sheet follows:
(in millions)
December 31,
2025
December 31,
2024
Other long-term assets$129.6 $121.6 
Other current liabilities30.2 25.7 
Other long-term liabilities105.4 100.5 
A maturity schedule of operating lease liabilities follows:
(in millions)
20262027202820292030ThereafterTotal
Lease payments$36.9 $27.7 $20.9 $18.7 $15.0 $48.9 $168.1 
Less: imputed interest(32.5)
Total lease liabilities$135.6 
Lease Term and Discount Rate
December 31,
2025
December 31,
2024
Operating leases:
Weighted-average remaining lease term (in years)7.68.4
Weighted-average discount rate5.1 %5.1 %
Supplemental Cash Flow Information
(in millions)202520242023
Operating lease liabilities - cash paid$36.0 $23.4 $19.9 
Operating lease liabilities - right-of-use assets obtained26.4 92.8 19.2 
Litigation 
Over the years, the Company has been named as a defendant, along with numerous other defendants, in lawsuits in various courts in which plaintiffs have alleged injury due to exposure to asbestos-containing friction products produced and sold predominantly by the Company’s discontinued Motion Control business between the late-1940s and the mid-1980s and roofing products produced and sold by Henry Company LLC, which the Company acquired on September 1, 2021. The Company has been subject to liabilities for indemnity and defense costs associated with these lawsuits.
The Company has recorded a liability for estimated indemnity costs associated with pending and future asbestos claims. As of December 31, 2025, the Company believes that its accrual for these costs is not material to the Company's financial position, results of operations or operating cash flows.
The Company recognizes expenses for defense costs associated with asbestos claims during the periods in which they are incurred. Refer to Note 1 for the Company’s accounting policy related to litigation defense costs.
The Company currently maintains insurance coverage and is the beneficiary of other arrangements that provide coverage with respect to asbestos-related claims and associated defense costs. The Company records the insurance coverage as a receivable in an amount it reasonably estimates is probable of recovery for pending and future asbestos-related indemnity claims. Since the Company’s insurance coverage contains various exclusions, limits of coverage and self-insured retentions and may be subject to insurance coverage disputes, the Company may incur expenses for indemnity and defense costs and recognize income from insurance recoveries in different periods. As such, recoveries are recorded only if and when it becomes probable that such costs will be covered by insurance.
The Company is also involved in various other legal actions and proceedings arising in the ordinary course of business. In the opinion of management, the ultimate outcomes of such actions and proceedings, either individually or in the aggregate, are not expected to have a material adverse effect on the Company’s financial position, results of operations, or operating cash flows.
v3.25.4
Insider Trading Arrangements
3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Company’s processes to assess, identify, and manage material cybersecurity risks are included as part of the Company’s overall risk management program and include documented procedures and protocols to identify and monitor material cybersecurity risks, provide cybersecurity training and awareness, implement protective controls, and established incident response procedures. The Company also engages third-party professional cybersecurity consultants to assist with its cybersecurity processes, including conducting periodic tabletop exercises and system penetration testing. The Company maintains processes to oversee and identify certain risks from cybersecurity threats associated with its use of these third-party service providers and maintains protections in its vendor risk management process. Risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected, nor are reasonably likely to materially affect, the Company, including its business strategy, results of operations, or financial condition.
The Audit Committee of the Company’s Board of Directors oversees the assessment and management of the Company’s major financial risk exposures, including cybersecurity risk, and reviews the steps management has taken to monitor, control and mitigate such exposures. No less than annually, the Senior Director of Information Security and Data Privacy attends an Audit Committee meeting and presents for review and discussion the Company’s processes to assess, identify, manage and mitigate material cybersecurity risks. The Audit Committee subsequently reports on the presentation to the full Board of Directors.
The Company’s cybersecurity processes are managed by a dedicated department led by the Senior Director of Information Security and Data Privacy. The Director of Information Security has 12 years of cybersecurity work experience and carries a number of cybersecurity and security-related certifications. The dedicated department is responsible for developing and implementing the strategies, policies and procedures to manage and mitigate cybersecurity risks. The dedicated department utilizes documented incident response procedures to become informed of and monitor the prevention, detection, mitigation and remediation of cybersecurity incidents. The dedicated department is comprised of an 11 person staff who carry myriad cybersecurity, privacy, and other security-related certifications. The Company’s internal audit department also provides support to the Company’s cybersecurity processes.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] The Company’s processes to assess, identify, and manage material cybersecurity risks are included as part of the Company’s overall risk management program and include documented procedures and protocols to identify and monitor material cybersecurity risks, provide cybersecurity training and awareness, implement protective controls, and established incident response procedures.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Audit Committee of the Company’s Board of Directors oversees the assessment and management of the Company’s major financial risk exposures, including cybersecurity risk, and reviews the steps management has taken to monitor, control and mitigate such exposures. No less than annually, the Senior Director of Information Security and Data Privacy attends an Audit Committee meeting and presents for review and discussion the Company’s processes to assess, identify, manage and mitigate material cybersecurity risks. The Audit Committee subsequently reports on the presentation to the full Board of Directors.
The Company’s cybersecurity processes are managed by a dedicated department led by the Senior Director of Information Security and Data Privacy. The Director of Information Security has 12 years of cybersecurity work experience and carries a number of cybersecurity and security-related certifications. The dedicated department is responsible for developing and implementing the strategies, policies and procedures to manage and mitigate cybersecurity risks. The dedicated department utilizes documented incident response procedures to become informed of and monitor the prevention, detection, mitigation and remediation of cybersecurity incidents. The dedicated department is comprised of an 11 person staff who carry myriad cybersecurity, privacy, and other security-related certifications. The Company’s internal audit department also provides support to the Company’s cybersecurity processes.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee of the Company’s Board of Directors oversees the assessment and management of the Company’s major financial risk exposures, including cybersecurity risk, and reviews the steps management has taken to monitor, control and mitigate such exposures.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] No less than annually, the Senior Director of Information Security and Data Privacy attends an Audit Committee meeting and presents for review and discussion the Company’s processes to assess, identify, manage and mitigate material cybersecurity risks. The Audit Committee subsequently reports on the presentation to the full Board of Directors.
Cybersecurity Risk Role of Management [Text Block]
The Company’s cybersecurity processes are managed by a dedicated department led by the Senior Director of Information Security and Data Privacy. The Director of Information Security has 12 years of cybersecurity work experience and carries a number of cybersecurity and security-related certifications. The dedicated department is responsible for developing and implementing the strategies, policies and procedures to manage and mitigate cybersecurity risks. The dedicated department utilizes documented incident response procedures to become informed of and monitor the prevention, detection, mitigation and remediation of cybersecurity incidents. The dedicated department is comprised of an 11 person staff who carry myriad cybersecurity, privacy, and other security-related certifications. The Company’s internal audit department also provides support to the Company’s cybersecurity processes.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The Audit Committee of the Company’s Board of Directors oversees the assessment and management of the Company’s major financial risk exposures, including cybersecurity risk, and reviews the steps management has taken to monitor, control and mitigate such exposures. No less than annually, the Senior Director of Information Security and Data Privacy attends an Audit Committee meeting and presents for review and discussion the Company’s processes to assess, identify, manage and mitigate material cybersecurity risks. The Audit Committee subsequently reports on the presentation to the full Board of Directors.
The Company’s cybersecurity processes are managed by a dedicated department led by the Senior Director of Information Security and Data Privacy. The Director of Information Security has 12 years of cybersecurity work experience and carries a number of cybersecurity and security-related certifications. The dedicated department is responsible for developing and implementing the strategies, policies and procedures to manage and mitigate cybersecurity risks. The dedicated department utilizes documented incident response procedures to become informed of and monitor the prevention, detection, mitigation and remediation of cybersecurity incidents. The dedicated department is comprised of an 11 person staff who carry myriad cybersecurity, privacy, and other security-related certifications. The Company’s internal audit department also provides support to the Company’s cybersecurity processes.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The Director of Information Security has 12 years of cybersecurity work experience and carries a number of cybersecurity and security-related certifications.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] No less than annually, the Senior Director of Information Security and Data Privacy attends an Audit Committee meeting and presents for review and discussion the Company’s processes to assess, identify, manage and mitigate material cybersecurity risks. The Audit Committee subsequently reports on the presentation to the full Board of Directors.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Summary of Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation 
The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All material intercompany transactions and accounts have been eliminated. Certain prior period amounts have been reclassified to conform to the current period's presentation.
Use of Estimates
Use of Estimates 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Foreign Currency Matters
Foreign Currency Matters 
The functional currency of the Company’s subsidiaries outside the United States of America ("United States" or "U.S.") is the currency of the primary economic environment in which the subsidiary operates. Assets and liabilities of these operations are translated to the U.S. Dollar at the exchange rate in effect at each balance sheet date. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments arising from the use of differing exchange rates from period to period are included as a component of stockholders’ equity in accumulated other comprehensive loss. Gains and losses from foreign currency transactions and from the remeasurement of monetary assets and liabilities and associated income statement activity of foreign subsidiaries where the functional currency is the U.S. Dollar and the records are maintained in the local currency are included in other non-operating expense (income), net.
Discontinued Operations
Discontinued Operations
The results of operations for the Company's former Carlisle Fluid Technologies ("CFT") and Carlisle Interconnect Technologies ("CIT") businesses have been classified as discontinued operations for all periods presented in the Consolidated Statements of Income.
Revenue Recognition
Revenue Recognition 
Revenue is recognized when the Company satisfies performance obligations in contracts with customers. Most of the Company’s contracts with customers have a single performance obligation to transfer distinct goods or services, and substantially all of the Company's revenue is recognized at the point in time when control of the goods transfers to the customer. Control typically transfers when the goods are shipped from the manufacturing facility or delivered to the customer, depending on the terms of the contract.
Revenue is measured as the amount of total consideration the Company expects to receive for satisfying its performance obligations. At the time of sale, the Company estimates provisions for variable consideration including discounts, rebates and returns based on an analysis of historical experience and actual sales data. At the end of each reporting period, the Company updates these estimates based on actual and expected changes in customer behavior related to early payment discounts, purchase volume-based rebates and rights of return. These changes in estimates are reflected as adjustments to revenue in the period identified. Sales, value-added, and other taxes collected concurrently with revenue-producing activities are excluded from revenue.
For separately priced extended warranties, the Company receives payment at the inception of the contract and establishes a contract liability. Revenue is recognized on a straight-line basis over the life of the contracts as the Company satisfies its performance obligations. The term of these warranties ranges from five to 40 years. The weighted-average life of the contracts as of December 31, 2025, is approximately 20 years.
Refer to Note 6 for further information on revenue recognition. 
Costs to Obtain a Contract
Costs to obtain a contract are recognized as expenses as incurred, as the amortization period of these costs would be one year or less. These costs generally include sales commissions and are included in selling and administrative expenses.
Shipping and Handling Costs 
Costs incurred to physically transfer product to customer locations are recorded as a component of cost of goods sold. Charges passed on to customers are included in revenues.
Other Non-operating Expense (Income) , net
Other Non-operating Expense (Income), net 
Other non-operating expense (income), net primarily includes foreign currency exchange (gains) losses, (gains) losses on pension settlements, (gains) losses on Rabbi Trust investments and (gains) losses on the sale of a business.
Stock-Based Compensation
Stock-Based Compensation 
The Company accounts for stock-based compensation using the fair-value method. For equity-classified awards, the cost is measured at the grant date based on the fair value of the award and is recognized as compensation cost over the requisite service period. This requisite service period typically matches the award's stated vesting period but may be shorter if the award fully vests upon the employee's retirement or termination from the Company. The Company recognizes compensation cost for awards that have graded vesting features under the graded vesting method, which considers each separate vesting tranche as though they were, in substance, a separate award. The Company also accounts for forfeitures of stock-based awards as they occur.
Income Taxes
Income Taxes 
Income taxes include an estimate of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. Deferred tax assets and liabilities reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company uses the portfolio approach for releasing income tax effects associated with amounts reclassified out of accumulated other comprehensive loss.
Cash Equivalents
Cash Equivalents 
Highly liquid investments with a maturity of three months or less when acquired are considered cash equivalents.
Receivables and Allowance for Credit Losses
Receivables and Allowance for Credit Losses 
Receivables are stated at amortized cost, net of allowances for credit losses. The Company regularly evaluates the creditworthiness of its customers by reviewing their credit information. This assessment determines if any events have occurred subsequent to revenue recognition that indicate the receivable might be realized at an amount less than that recognized at the time of sale. Credit loss estimates are based on historical losses, current economic conditions, geographic considerations, and in some cases, assessments of specific customer accounts for potential risk of loss.
Inventories
Inventories 
Inventories are valued at the lower of cost and net realizable value, with cost determined primarily on an average cost basis. Cost of inventories includes raw materials, direct and indirect labor, and manufacturing overhead. Manufacturing overhead includes materials; depreciation and amortization related to property, plant and equipment and other intangible assets used directly and indirectly in the acquisition and production of inventory; and costs related to the Company’s distribution network such as inbound freight charges, purchasing and receiving costs, inspection costs, warehousing costs, internal transfer costs and other costs associated with preparing the Company’s products for sale.
Property, Plant and Equipment
Property, Plant and Equipment 
Property, plant and equipment are stated at cost including interest costs associated with qualifying capital additions. Costs allocated to property, plant and equipment of acquired companies are based on estimated fair value at the date of acquisition. Depreciation is principally computed on a straight-line basis over the estimated useful lives of the assets. Asset lives are generally 20 to 40 years for buildings, five to 15 years for machinery and equipment and two to 20 years for leasehold improvements. Leasehold improvements are amortized based on the shorter of the underlying lease term or the asset’s estimated useful life.
Valuation of Long-Lived Assets
Valuation of Long-Lived Assets 
Long-lived assets or asset groups, including amortizable intangible assets, are tested for impairment whenever events or circumstances indicate that the carrying amount of the asset or asset group may not be recoverable. The Company groups its long-lived assets classified as held and used at the lowest level for which identifiable cash flows are largely independent of the cash flows from other assets and liabilities for purposes of testing for impairment. The Company’s asset groupings vary based on the related business in which the long-lived assets are employed and the interrelationship between those long-lived assets in producing net cash flows; for example, multiple manufacturing facilities may work in concert with one another or may work on a stand-alone basis to produce net cash flows. The Company utilizes its long-lived assets in multiple industries and economic environments and its asset groupings reflect these various factors. 
The Company monitors the operating and cash flow results of its long-lived assets or asset groups classified as held and used to identify whether events and circumstances indicate the remaining useful lives of those assets should be adjusted or if the carrying value of those assets or asset groups may not be recoverable. Undiscounted estimated future cash flows are compared with the carrying value of the long-lived asset or asset group in the event indicators of impairment are identified. If the undiscounted estimated future cash flows are less than the carrying amount, the Company determines the fair value of the asset or asset group and records an impairment charge in current earnings to the extent carrying value exceeds fair value. Fair values may be determined based on estimated discounted cash flows by prices for like or similar assets in similar markets or a combination of both. 
Long-lived assets or asset groups that are part of a disposal group that meets the criteria to be classified as held for sale are not assessed for impairment, but rather a loss is recorded against the disposal group if fair value, less cost to sell, of the disposal group is less than its carrying value.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets 
Goodwill is not amortized but is tested for impairment annually, or more often if impairment indicators are present, at a reporting unit level by comparing the fair value of the reporting unit with its carrying value. The Company's annual testing date for goodwill is November 1. The Company determined it had four reporting units within its two reportable segments.
Intangible assets are recognized and recorded at their acquisition date fair values. Intangible assets that are subject to amortization are amortized on a straight-line basis over their useful lives. Definite-lived intangible assets consist primarily of acquired customer relationships, patents and technology, and certain trade names. The Company determines the useful life of its definite-lived intangible assets based on multiple factors including the size and make-up of the acquired customer base, the expected dissipation of those customers over time, the Company’s own experience in the particular industry, the impact of known trends such as technological obsolescence and product demand and the period over which expected cash flows are used to measure the fair value of the intangible asset at acquisition. The Company periodically re-assesses the useful lives of its definite-lived intangible assets when events or circumstances indicate that useful lives have significantly changed from the previous estimate. 
Intangible assets with indefinite useful lives are not amortized but are tested for impairment annually, or more often if impairment indicators are present, by comparing the fair value of the intangible asset with its carrying value. The Company's annual testing date for indefinite-lived intangible assets is November 1. The Company periodically re-assesses indefinite-lived intangible assets as to whether their useful lives can be determined and, if so, begins amortizing any applicable intangible asset.
Extended Product Warranty Reserves
Extended Product Warranty Reserves 
The Company offers extended warranty contracts on sales of certain products; the most significant being those offered on its installed roofing and weatherproofing systems. Current costs of services performed under these contracts are expensed as incurred and included in cost of goods sold. The Company would record a reserve within accrued expenses if the total expected costs of providing services at a product line level exceed unamortized deferred revenues. Total expected costs of providing extended product warranty services are actuarially determined using standard quantitative measures based on historical claims experience and management judgment.
Pension
Pension 
The Company maintains defined benefit pension plans primarily for certain domestic employees. The annual net periodic benefit cost and projected benefit obligations related to these plans are determined on an actuarial basis annually on December 31, unless a remeasurement event occurs in an interim period. This determination requires assumptions to be made concerning general economic conditions (particularly interest rates), expected return on plan assets, increases to compensation levels and mortality rate trends. Changes in the assumptions to reflect actual experience can result in a change in the net periodic benefit cost and projected benefit obligations. 
The defined benefit pension plans’ assets are measured at fair value annually on December 31, unless a remeasurement event occurs in an interim period. The Company uses the market related valuation method to determine the value of plan assets for purposes of determining the expected return on plan assets component of net periodic benefit cost. The market related valuation method recognizes the change of the fair value of the plan assets over five years. If actual experience differs from these long-term assumptions, the difference is recorded as an actuarial gain (loss) and amortized into earnings over a period of time based on the average future service period, which may cause the expense related to providing these benefits to increase or decrease.
Leases
Leases 
The Company determines if an arrangement is a lease at inception by evaluating if the asset is explicitly or implicitly identified or distinct, if the Company will receive substantially all of the economic benefit, or if the lessor has an economic benefit and the ability to substitute the asset.
Right-of-use assets ("ROU assets") represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, measured based on the present value of fixed and known lease payments over the lease term, and recorded in other long-term assets, other current liabilities, and other long-term liabilities. Variable payments are not included in the ROU asset or lease liability and can vary from period to period based on the use of an asset during the period or the Company's proportionate share of common costs. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the
present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and lease expense for these leases is recognized on a straight-line basis over the lease term.
The Company has lease agreements with lease components and non-lease components. The Company has elected to apply the practical expedient to account for these components as a single lease component, for all classes of underlying assets.
Contingencies and Insurance Recoveries
Contingencies and Insurance Recoveries 
The Company is exposed to losses related to various potential claims related to its employee obligations and other matters in the normal course of business, including commercial, employee, environmental or other regulatory claims. The Company records a liability related to such potential claims, both those reported to the Company and incurred but not yet reported, when probable and reasonably estimable. The Company expenses legal defense costs related to such matters as incurred.
The Company maintains occurrence-based insurance contracts related to certain contingent losses, primarily workers’ compensation, medical and dental, general liability, property, and product liability claims up to applicable retention limits as part of its risk management strategy. The Company records a recovery under these insurance contracts when such recovery is deemed probable. Insurance proceeds in excess of realized losses are gain contingencies and not recorded until realized.
Financial Instruments
Financial Instruments
From time to time, the Company may enter into derivative financial instruments to hedge various risks to cash flows or the fair value of recognized assets and liabilities, including those arising from fluctuations in foreign currencies, interest rates and commodities. The Company recognizes these instruments at the time they are entered into and measures them at fair value. For instruments that are designated and qualify as cash flow hedges under GAAP, the changes in fair value period-to-period, less any excluded components, are classified in accumulated other comprehensive loss, until the underlying transaction being hedged impacts earnings. The excluded components are recorded in current period income (loss). For those instruments that are designated and qualify as fair value hedges under GAAP, the changes in fair value period-to-period of both the derivative instrument and underlying hedged item are recognized currently in earnings. For those instruments not designated or those that do not qualify as hedges under GAAP, the changes in fair value period-to-period are classified immediately in current period income, within other non-operating expense (income), net.
Other financial instruments include cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and long-term debt. The carrying values for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values because of their short-term nature and negligible credit losses.
New Accounting Standards Adopted and New Accounting Standards Issued But Not Yet Adopted
New Accounting Standards Adopted
In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"), which is intended to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments which are intended to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for the Company beginning January 1, 2025, and the Company applied this standard retrospectively. The adoption of this standard did not require an implementation adjustment and did not impact the Company's consolidated net income or cash flows. Refer to Note 8 for updated disclosures.
New Accounting Standards Issued But Not Yet Adopted
In November 2024, the FASB issued ASU 2024-03, Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"), which is intended to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions (such as cost of sales; selling, general, and administrative expenses; and research and development). ASU 2024-03 will be effective for the Company's fiscal year beginning January 1, 2027 and allows the use of a prospective or retrospective approach. The Company plans to adopt the standard on January 1, 2027, and has not yet determined the potential impact.
v3.25.4
Segment Information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Summary of Financial Information for Operations by Reportable Business Segment
A summary of financial information by reportable segment follows:
Year ended December 31, 2025
(in millions)CCMCWTTotal
Revenue$3,721.7 $1,298.2 $5,019.9 
Cost of goods sold2,309.3 917.0 3,226.3 
Selling and administrative expenses383.2 258.5 641.7 
Research and development expenses32.7 14.4 47.1 
Other operating expense (income), net(1)
(0.7)6.4 5.7 
Segment operating income997.2 101.9 1,099.1 
Corporate and unallocated operating expense96.6 
Interest expense78.5 
Interest income(25.9)
Other non-operating expense (income), net1.1 
Income from continuing operations before income taxes$948.8 
(1)Primarily relates to lease terminations and litigation settlements.
Year ended December 31, 2024
(in millions)CCMCWTTotal
Revenue$3,704.3 $1,299.3 $5,003.6 
Cost of goods sold2,239.0 873.1 3,112.1 
Selling and administrative expenses362.7 238.2 600.9 
Research and development expenses23.7 11.7 35.4 
Other operating expense (income), net(1)
(5.4)2.7 (2.7)
Segment operating income1,084.3 173.6 1,257.9 
Corporate and unallocated operating expense114.8 
Interest expense73.3 
Interest income(60.3)
Other non-operating expense (income), net19.2 
Income from continuing operations before income taxes$1,110.9 
(1)Primarily relates to lease terminations, insurance settlements, and litigation settlements.
Year ended December 31, 2023
(in millions)CCMCWTTotal
Revenue$3,253.4 $1,333.5 $4,586.9 
Cost of goods sold2,035.4 910.2 2,945.6 
Selling and administrative expenses287.3 219.6 506.9 
Research and development expenses18.0 10.7 28.7 
Other operating expense (income), net(1)
(1.2)5.1 3.9 
Segment operating income913.9 187.9 1,101.8 
Corporate and unallocated operating expense119.0 
Interest expense75.6 
Interest income(20.1)
Other non-operating expense (income), net(3.1)
Income from continuing operations before income taxes$930.4 
(1)Primarily relates to (gain)/loss on sale of fixed assets, litigation settlements, and fixed asset impairments.
Other financial information by reportable segment follows:
(in millions)Depreciation and AmortizationCapital Expenditures
2025 
Carlisle Construction Materials$89.3 $86.0 
Carlisle Weatherproofing Technologies103.8 44.9 
Segment Total
193.1 130.9 
Corporate and unallocated
3.4 0.3 
Total$196.5 $131.2 
2024 
Carlisle Construction Materials$80.7 $65.5 
Carlisle Weatherproofing Technologies88.3 35.4 
Segment Total
169.0 100.9 
Corporate and unallocated
3.6 — 
Total$172.6 $100.9 
2023 
Carlisle Construction Materials$57.0 $84.5 
Carlisle Weatherproofing Technologies88.1 26.0 
Segment Total
145.1 110.5 
Corporate and unallocated
6.0 0.3 
Total$151.1 $110.8 
Summary of Long-Lived Assets, Excluding Deferred Tax Assets and Intangible Assets, by Region
Long-lived assets, excluding deferred tax assets and intangible assets, by region follows: 
(in millions)December 31,
2025
December 31,
2024
United States$838.9 $754.6 
International:  
Europe87.2 74.9 
North America (excluding U.S.)85.3 71.6 
Other0.1 0.3 
Total long-lived assets$1,011.5 $901.4 
v3.25.4
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2025
Bonded Logic  
Acquisitions  
Summary of Consideration Transferred and the Allocation of the Consideration to Acquired Assets and Assumed Liabilities The following table summarizes the consideration transferred to acquire Bonded Logic and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation for all acquired assets and liabilities.
Preliminary AllocationMeasurement Period AdjustmentsPreliminary Allocation
(in millions)As of
6/30/2025
As of
12/31/2025
Total cash consideration transferred$60.7 $0.7 $61.4 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Receivables, net3.2 — 3.2 
Inventories5.0 (0.4)4.6 
Other current assets0.1 (0.1)— 
Property, plant and equipment13.5 — 13.5 
Definite-lived intangible assets9.0 — 9.0 
Other long-term assets10.2 — 10.2 
Accounts payable(3.3)— (3.3)
Other current liabilities(5.2)2.4 (2.8)
Other long-term liabilities(7.7)— (7.7)
Total identifiable net assets24.8 1.9 26.7 
Goodwill$35.9 $(1.2)$34.7 
ThermaFoam  
Acquisitions  
Summary of Consideration Transferred and the Allocation of the Consideration to Acquired Assets and Assumed Liabilities The following table summarizes the consideration transferred to acquire ThermaFoam and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation for all acquired assets and liabilities.
Preliminary AllocationMeasurement Period AdjustmentsPreliminary Allocation
(in millions)As of
2/3/2025
As of
12/31/2025
Total cash consideration transferred$52.9 $0.8 $53.7 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Receivables, net2.7 0.2 2.9 
Inventories1.4 — 1.4 
Other current assets0.1 — 0.1 
Property, plant and equipment8.8 — 8.8 
Definite-lived intangible assets6.7 — 6.7 
Accounts payable(0.9)0.1 (0.8)
Other current liabilities(0.6)0.3 (0.3)
Total identifiable net assets18.2 0.6 18.8 
Goodwill$34.7 $0.2 $34.9 
Summary of Acquired Definite-lived Intangible Assets
The preliminary fair values and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life (in years)
Customer relationships$6.5 9
Other intangibles0.2 5
Total$6.7 
PFB Holdco, Inc  
Acquisitions  
Summary of Consideration Transferred and the Allocation of the Consideration to Acquired Assets and Assumed Liabilities The following table summarizes the consideration transferred to acquire PFB and the allocation of the purchase price among the assets acquired and liabilities assumed based upon their acquisition date fair values with the remainder allocated to goodwill.
Preliminary AllocationMeasurement Period AdjustmentsFinal Allocation
(in millions)As of
12/18/2024
As of
12/17/2025
Total cash consideration transferred$268.9 $(2.4)$266.5 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents6.4 — 6.4 
Receivables, net9.6 — 9.6 
Inventories14.5 — 14.5 
Prepaid expenses and other current assets6.6 (2.8)3.8 
Property, plant and equipment31.7 (0.3)31.4 
Definite-lived intangible assets112.8 11.5 124.3 
Other long-term assets46.1 3.3 49.4 
Accounts payable(4.6)0.7 (3.9)
Accrued and other current liabilities(27.8)16.1 (11.7)
Deferred income taxes(27.9)(2.2)(30.1)
Other long-term liabilities(43.5)(7.4)(50.9)
Total identifiable net assets123.9 18.9 142.8 
Goodwill$145.0 $(21.3)$123.7 
Summary of Acquired Definite-lived Intangible Assets
The fair values and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life (in years)
Customer relationships$81.5 11
Trade names15.0 15
Technologies27.8 11
Total$124.3 
MTL Holdings LLC  
Acquisitions  
Summary of Consideration Transferred and the Allocation of the Consideration to Acquired Assets and Assumed Liabilities The following table summarizes the consideration transferred to acquire MTL and the allocation of the purchase price among the assets acquired and liabilities assumed based upon their acquisition date fair values with the remainder allocated to goodwill.
Preliminary AllocationMeasurement Period AdjustmentsFinal Allocation
(in millions)As of
5/1/2024
As of
4/30/2025
Total cash consideration transferred $423.1 $1.5 $424.6 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents10.3 — 10.3 
Receivables, net14.0 — 14.0 
Inventories17.2 (0.4)16.8 
Prepaid expenses and other current assets0.9 — 0.9 
Property, plant and equipment10.7 (0.3)10.4 
Definite-lived intangible assets248.3 — 248.3 
Other long-term assets8.1 0.3 8.4 
Accounts payable(5.9)— (5.9)
Accrued and other current liabilities(6.1)— (6.1)
Deferred income taxes(6.9)0.4 (6.5)
Other long-term liabilities(6.7)(0.9)(7.6)
Total identifiable net assets283.9 (0.9)283.0 
Goodwill$139.2 $2.4 $141.6 
Summary of Acquired Definite-lived Intangible Assets
The fair values and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life (in years)
Customer relationships$183.1 13
Trade names44.6 19
Technologies18.1 11
Software2.5 5
Total$248.3 
v3.25.4
Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Summary Activity of Discontinued Operations
A summary of the results from discontinued operations included in the Consolidated Statements of Income and Comprehensive Income for 2024 and 2023 follows:
2024
(in millions)CITCFTOtherTotal
Revenues$328.6 $— $— $328.6 
Cost of goods sold237.5 — — 237.5 
Other operating expenses, net34.4 — — 34.4 
Operating income56.7 — — 56.7 
Other non-operating (income) expense, net0.5 24.9 5.4 30.8 
Income (loss) from discontinued operations before income taxes and loss on sale56.2 (24.9)(5.4)25.9 
Loss (gain) on sale of discontinued operations(457.3)2.9 — (454.4)
Income (loss) from discontinued operations before income taxes513.5 (27.8)(5.4)480.3 
Provision for (benefit from) income taxes49.0 (9.5)(5.9)33.6 
Income (loss) from discontinued operations$464.5 $(18.3)$0.5 $446.7 
2023
(in millions)CITCFTOtherTotal
Revenues$886.1 $227.1 $— $1,113.2 
Cost of goods sold666.9 129.2 — 796.1 
Impairment— 24.8 — 24.8 
Other operating expenses, net119.7 55.8 — 175.5 
Operating income99.5 17.3 — 116.8 
Other non-operating (income) expense, net(0.5)— 1.8 1.3 
Income (loss) from discontinued operations before income taxes and gain on sale100.0 17.3 (1.8)115.5 
Pre-close transaction expenses(1)
11.3 — — 11.3 
Loss on sale of discontinued operations— 82.5 — 82.5 
Income (loss) from discontinued operations before income taxes88.7 (65.2)(1.8)21.7 
Provision for (benefit from) income taxes1.3 (26.2)(1.9)(26.8)
Income (loss) from discontinued operations$87.4 $(39.0)$0.1 $48.5 
(1)Includes legal fees and stock-based compensation expenses directly related to the sale incurred prior to the close of the transaction. Upon close of the transaction, these expenses are incorporated into the (gain)/loss on sale of discontinued operations.
A summary of cash flows from discontinued operations included in the Consolidated Statements of Cash Flows for 2024 and 2023 follows:
2024
(in millions)CITCFTOtherTotal
Net cash provided by (used in) operating activities$8.9 $(18.3)$0.5 $(8.9)
Net cash provided by (used in) investing activities1,986.3 — — 1,986.3 
Net cash provided by (used in) financing activities(1)
(2,024.0)18.3 (0.5)(2,006.2)
Change in cash and cash equivalents from discontinued operations(28.8)— — (28.8)
Cash and cash equivalents from discontinued operations at beginning of period28.8 — — 28.8 
Cash and cash equivalents from discontinued operations at end of period$— $— $— $— 
2023
(in millions)CITCFTOtherTotal
Net cash provided by (used in) operating activities$113.3 $50.7 $0.1 $164.1 
Net cash provided by (used in) investing activities(28.8)509.0 — 480.2 
Net cash provided by (used in) financing activities(1)
(79.6)(571.0)(0.1)(650.7)
Change in cash and cash equivalents from discontinued operations4.9 (11.3)— (6.4)
Cash and cash equivalents from discontinued operations at beginning of period23.9 11.3 — 35.2 
Cash and cash equivalents from discontinued operations at end of period$28.8 $— $— $28.8 
(1)Represents (repayments) or borrowings from the Carlisle cash pool to fund working capital and capital expenditures and return of capital upon sale.
v3.25.4
Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Earnings Per Share
A reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for income from continuing operations follows:
(in millions, except per share amounts)202520242023
Income from continuing operations$742.5 $865.1 $718.9 
   Less: Income allocated to participating securities
1.5 1.7 1.6 
Income available to common stockholders$741.0 $863.4 $717.3 
Shares:   
Basic weighted-average shares outstanding 42.8 46.5 49.9 
   Effect of dilutive securities(1)
0.4 0.6 0.5 
Diluted weighted-average shares outstanding
43.2 47.1 50.4 
Earnings per share from continuing operations attributable to common shares:
   
Basic$17.31 $18.58 $14.38 
Diluted$17.16 $18.34 $14.22 
(1)The computation of diluted earnings per share excludes 0.1 and 0.6 shares of antidilutive stock options for the years ended December 2025 and 2023, respectively. There were no antidilutive stock options for the year ended December 2024.
v3.25.4
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Summary of Disaggregation of Revenue
A summary of revenues disaggregated by end-market follows:
2025
(in millions)CCMCWTTotal
Non-residential construction$3,432.9 $595.8 $4,028.7 
Residential construction288.8 574.3 863.1 
Other— 128.1 128.1 
Total revenues$3,721.7 $1,298.2 $5,019.9 
2024
(in millions)CCMCWTTotal
Non-residential construction$3,414.9 $583.6 $3,998.5 
Residential construction289.4 587.7 877.1 
Other— 128.0 128.0 
Total revenues$3,704.3 $1,299.3 $5,003.6 
2023
(in millions)CCMCWTTotal
Non-residential construction$2,986.0 $543.9 $3,529.9 
Residential construction267.4 667.8 935.2 
Other— 121.8 121.8 
Total revenues$3,253.4 $1,333.5 $4,586.9 
Revenues by Geographic Area
A summary of revenues based on the region to which the product was delivered follows:
2025
(in millions)CCMCWTTotal
United States$3,392.0 $1,108.3 $4,500.3 
International:
Europe231.9 18.8 250.7 
North America (excluding U.S.)75.7 155.3 231.0 
Other22.1 15.8 37.9 
Total international329.7 189.9 519.6 
Total revenues$3,721.7 $1,298.2 $5,019.9 
2024
(in millions)CCMCWTTotal
United States$3,373.7 $1,153.5 $4,527.2 
International:
Europe217.3 20.5 237.8 
North America (excluding U.S.)85.0 109.7 194.7 
Other28.3 15.6 43.9 
Total international$330.6 $145.8 $476.4 
Total revenues$3,704.3 $1,299.3 $5,003.6 
2023
(in millions)CCMCWTTotal
United States$2,949.3 $1,180.8 $4,130.1 
International:
Europe192.7 19.1 211.8 
North America (excluding U.S.)85.4 112.6 198.0 
Other26.0 21.0 47.0 
Total international304.1 152.7 456.8 
Total revenues$3,253.4 $1,333.5 $4,586.9 
Summary of Contract Balances A summary of the change in contract liabilities follows:
(in millions)202520242023
Balance as of January 1$350.5 $324.0 $294.8 
Revenue deferred52.5 55.3 56.1 
Revenue recognized(30.7)(28.8)(26.9)
Balance as of December 31$372.3 $350.5 $324.0 
A summary of estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2025 follows:
(in millions)20262027202820292030Thereafter
Extended service warranties$29.8 $29.3 $28.2 $27.3 $26.4 $231.3 
v3.25.4
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Compensation Expense
Stock-based compensation cost by award type follows:
(in millions)202520242023
Stock option awards$13.1 $14.0 $14.4 
Restricted stock awards10.8 9.4 8.3 
Performance share awards10.5 9.4 8.8 
Total stock-based compensation cost incurred34.4 32.8 31.5 
Capitalized cost during the period(1.9)(3.3)(4.5)
Amortization of capitalized cost during the period2.3 3.4 4.7 
Total stock-based compensation expense$34.8 $32.9 $31.7 
Income tax benefit$17.8 $18.7 $11.4 
Summary of Weighted-Average Assumptions for Equity Awards The weighted average assumptions used in the determination of fair value for stock options follow:
202520242023
Expected dividend yield1.0 %1.2 %1.2 %
Expected term (in years)
4.54.74.6
Expected volatility28.7 %32.1 %32.4 %
Risk-free interest rate4.2 %3.9 %3.6 %
Summary of Stock Option Activity Under the Company's Stock Option Awards
A summary of stock options outstanding and activity follows:
Number of Units
(in thousands)
Weighted-Average Exercise Price
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2024875 $227.97 
Options granted108 395.46 
Options exercised(119)195.71 
Options forfeited / expired(36)304.86 
Outstanding as of December 31, 2025828 251.17 6.0$64.6 
Vested and exercisable as of December 31, 2025606 219.08 5.2$61.2 
Additional information related to stock option activity during the years ended December 31 follows:
202520242023
Weighted-average grant date fair value (per share)$112.37 $97.11 $74.20 
Intrinsic value of options exercised (in millions)21.1 118.2 23.5 
Summary of Activity Related to Restricted Stock
A summary of restricted stock outstanding and activity follows:
Number of Shares
(in thousands)
Weighted-Average Grant Date Fair Value
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2024100 $265.53 
Shares granted30 387.39 
Shares vested(35)245.31 
Shares forfeited(2)330.78 
Outstanding as of December 31, 202593 312.23 1.0$29.7 
Additional information related to restricted stock award activity during the years ended December 31 follows:
202520242023
Weighted-average grant date fair value (per share)$387.39 $337.83 $250.83 
Intrinsic value of restricted stock awards vested (in millions)12.7 18.5 10.7 
Summary of Activity Related to Performance Shares
A summary of performance shares outstanding and activity follows:
Number of Shares
(in thousands)
Weighted-Average Grant Date Fair Value
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 202490 $368.42 
Awards granted20 570.01 
Awards vested(71)310.22 
Awards converted35 310.37 
Awards forfeited(2)482.33 
Outstanding as of December 31, 202572 449.29 0.9$23.2 
Additional information related to performance share activity during the years ended December 31 follows:
202520242023
Weighted-average grant date fair value (per share)$570.01 $467.92 $368.47 
Intrinsic value of performance share awards vested (in millions)24.8 31.0 19.9 
v3.25.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Summary of Income Before Tax From U.S. and Non-U.S. Operations
Geographic sources of income before income taxes consists of the following:
(in millions)202520242023
Continuing operations:   
U.S. domestic$942.1 $1,106.5 $924.1 
Foreign6.7 4.4 6.3 
Income from continuing operations before income taxes948.8 1,110.9 930.4 
Discontinued operations:   
U.S. domestic0.3 (15.2)(121.9)
Foreign— 495.5 143.6 
Income from discontinued operations before income taxes0.3 480.3 21.7 
Total income before income taxes$949.1 $1,591.2 $952.1 
Summary of Provision for Income Taxes From Continuing Operations
The provision for income taxes from continuing operations consists of the following:
(in millions)202520242023
Current provision:   
Federal$153.4 $231.7 $195.8 
State41.9 50.4 39.4 
Foreign1.2 22.8 4.5 
Total current provision196.5 304.9 239.7 
Deferred provision:   
Federal15.5 (27.8)(18.2)
State(1.7)(7.8)(2.0)
Foreign(4.0)(23.5)(8.0)
Total deferred provision9.8 (59.1)(28.2)
Total provision for income taxes$206.3 $245.8 $211.5 
Summary of Reconciliation of Taxes from Continuing Operations Computed at the Statutory Rate to the Tax Provision
A reconciliation of the tax provision from continuing operations computed at the U.S. federal statutory rate to the actual tax provision follows:
202520242023
(in millions, except percentages)AmountPercentAmountPercentAmountPercent
Taxes at U.S. statutory rate$199.221.0 %$233.321.0 %$195.421.0 %
State and local taxes, net of federal income tax benefit(1)
31.43.3 33.83.0 31.43.4 
Tax credits(12.6)(1.3)(9.1)(0.8)(3.3)(0.4)
Other, net(11.7)(1.2)(12.2)(1.1)(12.0)(1.3)
Effective Tax Rate$206.321.7 %$245.822.1 %$211.522.7 %
(1)State taxes in California, Florida, Illinois, Massachusetts, Minnesota, New Jersey, Pennsylvania, and Wisconsin made up the majority (greater than 50 percent) of the tax effect in this category.
Summary of Cash Payments for Income Taxes, Net of Refunds
Cash payments for income taxes, net of refunds, were as follows:
(in millions)202520242023
Federal$137.9 $259.4 $190.2 
State38.0 50.2 41.5 
Foreign29.6 14.6 16.0 
Total$205.5 $324.2 $247.7 
Supplemental Cash Flow Information
(in millions)202520242023
Operating lease liabilities - cash paid$36.0 $23.4 $19.9 
Operating lease liabilities - right-of-use assets obtained26.4 92.8 19.2 
Summary of Deferred Tax Assets (Liabilities)
(in millions)December 31,
2025
December 31,
2024
U.S. federal tax attributes$39.7 $37.6 
Deferred revenue37.1 35.9 
Employee benefits30.0 30.9 
Capitalized research and development costs— 29.4 
Lease liabilities27.3 22.8 
U.S. state tax attributes22.2 19.2 
Non-U.S. tax attributes18.3 15.7 
Other, net26.0 21.7 
Gross deferred assets200.6 213.2 
Valuation allowances(52.0)(51.7)
Deferred tax assets after valuation allowances148.6 161.5 
Intangibles(297.7)(308.1)
Property, plant and equipment(54.3)(47.7)
Right of use assets(25.7)(21.6)
Undistributed foreign earnings(6.7)(6.3)
Gross deferred liabilities(384.4)(383.7)
Net deferred tax liabilities$(235.8)$(222.2)
Summary of Deferred Tax Assets and (Liabilities) Included in the Balance Sheet
Deferred tax assets and liabilities included in the Consolidated Balance Sheet follow:
(in millions)December 31,
2025
December 31,
2024
Other long-term assets$9.8 $6.0 
Deferred taxes(245.6)(228.2)
Net deferred tax liabilities$(235.8)$(222.2)
Summary of Reconciliation of the Beginning and Ending Amount of Gross Unrecognized Tax Benefits (Before Estimated Interest and Penalties)
A summary of the movement in gross unrecognized tax benefits (before estimated interest and penalties) follows:
(in millions)202520242023
Balance as of January 1$9.6 $7.3 $6.4 
Additions based on tax positions related to current year3.6 3.1 3.3 
Reductions due to statute of limitations(0.8)(0.8)(2.7)
Reductions due to settlements— — (0.2)
Adjustments due to foreign exchange rates(0.3)— 0.5 
Balance as of December 31$12.1 $9.6 $7.3 
v3.25.4
Inventories (Tables)
12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Summary of Components of Inventories
A summary of the Company's inventories follows:
(in millions)December 31,
2025
December 31,
2024
Raw materials$169.6 $157.0 
Work-in-process25.1 26.1 
Finished goods266.5 299.8 
Reserves(13.9)(10.2)
Inventories$447.3 $472.7 
v3.25.4
Property, Plant and Equipment (Tables)
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Summary of Components of Property, Plant, and Equipment
A summary of the Company's property, plant and equipment follows:
(in millions)December 31,
2025
December 31,
2024
Land$57.8 $50.8 
Buildings and leasehold improvements500.7 475.0 
Machinery and equipment828.5 763.5 
Projects in progress194.1 125.0 
Property, plant and equipment, gross1,581.1 1,414.3 
Accumulated depreciation(774.0)(702.5)
Property, plant and equipment, net$807.1 $711.8 
v3.25.4
Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill by reportable segment follows:
(in millions)CCMCWTTotal
Balance as of December 31, 2023$934.7 $267.8 $1,202.5 
Goodwill acquired during year (1)
141.0 145.0 286.0 
Currency translation and other(2.6)(7.9)(10.5)
Balance as of December 31, 2024$1,073.1 $404.9 $1,478.0 
Goodwill acquired during year (1)
— 69.6 69.6 
Currency translation and other5.8 (14.5)(8.7)
Balance as of December 31, 2025$1,078.9 $460.0 $1,538.9 
(1)Refer to Note 3 for further information on goodwill resulting from recent acquisitions.
Summary of Other Intangible Assets
Other Intangible Assets
A summary of the Company's other intangible assets follows:
December 31, 2025December 31, 2024
(in millions)Acquired CostAccumulated AmortizationNet Book ValueAcquired CostAccumulated AmortizationNet Book Value
Customer relationships$1,479.6 $(483.6)$996.0 $1,456.0 $(380.5)$1,075.5 
Indefinite-lived trade names254.4 — 254.4 252.0 — 252.0 
Technology
203.3 (116.6)86.7 185.6 (103.4)82.2 
Definite-lived trade names117.6 (43.1)74.5 117.0 (37.0)80.0 
Other44.3 (30.4)13.9 37.8 (22.6)15.2 
Other intangible assets$2,099.2 $(673.7)$1,425.5 $2,048.4 $(543.5)$1,504.9 
Summary of Intangible Assets Subject to Amortization
The remaining weighted-average amortization period of intangible assets subject to amortization as of December 31, 2025, follows (in years):
Customer relationships12.3
Technology7.3
Definite-lived trade names14.6
Other1.4
Total assets subject to amortization11.9
Summary of Estimated Future Amortization Expense
Intangible assets subject to amortization as of December 31, 2025, will be amortized as follows:
(in millions)20262027202820292030Thereafter
Estimated future amortization expense
$123.5 $109.6 $105.9 $99.1 $90.7 $642.3 
Summary of the Net Book Values of Other Intangible Assets, Net by Reportable Segment
The net carrying values of the Company’s other intangible assets by reportable segment follows:
(in millions)December 31,
2025
December 31,
2024
Carlisle Construction Materials$314.9 $343.0 
Carlisle Weatherproofing Technologies 1,110.2 1,159.7 
Corporate0.4 2.2 
Total$1,425.5 $1,504.9 
v3.25.4
Other Current Liabilities (Tables)
12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Summary of Other Current Liabilities
A summary of the Company's other current liabilities follows:
(in millions)December 31,
2025
December 31,
2024
Accrued customer incentives$117.9 $112.2 
Accrued compensation and benefits78.9 96.3 
Accrued income and other taxes147.8 55.3 
Other158.4 140.9 
Other current liabilities$503.0 $404.7 
v3.25.4
Long-term Debt (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Summary of Long-term Debt
A summary of the Company's long-term debt follows:
 
Fair Value (1)
(in millions)December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024
5.55% Notes due 2040
$500.0 $— $505.6 $— 
5.25% Notes due 2035
500.0 — 511.1 — 
2.20% Notes due 2032
550.0 550.0 479.4 448.7 
2.75% Notes due 2030
750.0 750.0 707.8 672.2 
3.75% Notes due 2027
600.0 600.0 597.1 584.1 
Unamortized discount and debt issuance costs(27.3)(16.4)
Other13.7 7.0 
Total debt2,886.4 1,890.6   
Less: current portion of debt4.8 3.2   
Long-term debt$2,881.6 $1,887.4   
(1)The fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities. Based on these inputs, debt instruments are classified as Level 2 in the fair value hierarchy.
Summary of Debt Instrument Redemption The Notes may also be redeemed at any time after the dates noted below, in whole or in part, at the Company's option at 100.0% of the principal amount, plus accrued and unpaid interest.
Debt InstrumentDateSpread
5.55% Notes due 2040
June 15, 204025 basis points
5.25% Notes due 2035
June 15, 203520 basis points
2.20% Notes due 2032
December 1, 203120 basis points
2.75% Notes due 2030
December 1, 202920 basis points
3.75% Notes due 2027
September 1, 202725 basis points
v3.25.4
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2025
Employee Benefit Plans [Abstract]  
Summary of Weighted-Average Assumptions for Benefit Obligations Weighted-average assumptions for the projected benefit obligation follow:
 December 31,
2025
December 31,
2024
Discount rate5.2 %5.5 %
Rate of compensation increase3.8 %3.8 %
Summary of Weighted-Average Assumptions for Net Periodic Benefit Cost
Weighted-average assumptions for net periodic benefit cost follow:
 202520242023
Discount rate5.5 %4.8 %5.1 %
Rate of compensation increase3.8 %3.8 %3.8 %
Expected long-term return on plan assets6.7 %6.0 %6.0 %
Summary of Reconciliation of the Change in the Projected Benefit Obligation, Plan Assets and the Funded
A reconciliation of the change in the projected benefit obligation, plan assets and the funded status follows: 
(in millions)20252024
Funded status  
Projected benefit obligation  
Balance as of January 1$71.0 $134.3 
Change in benefit obligation:  
Service cost1.8 2.2 
Interest cost3.4 5.5 
Actuarial (gain) loss1.8 (8.4)
Benefits paid and transferred(9.8)(62.6)
Balance as of December 31$68.2 $71.0 
Fair value of plan assets  
Balance as of January 1$58.2 $114.8 
Change in plan assets:  
Actual gain on plan assets4.8 3.9 
Company contributions1.5 2.1 
Benefits paid and transferred(9.8)(62.6)
Balance as of December 31$54.7 $58.2 
Unfunded status as of December 31$(13.5)$(12.8)
Accumulated benefit obligation as of December 31$67.1 $70.8 
Summary of Net Asset (Liability)
Pension assets and liabilities included in the Consolidated Balance Sheet follow:
(in millions)December 31,
2025
December 31,
2024
Other long-term assets$3.8 $4.9 
Other current liabilities(1.3)(1.6)
Other long-term liabilities(16.0)(16.1)
Net pension liabilities$(13.5)$(12.8)
Summary of Amounts Included in Accumulated Other Comprehensive Loss
The amounts included in accumulated other comprehensive loss that have not been recognized in net periodic pension cost follow:
(in millions)December 31,
2025
December 31,
2024
Unrecognized actuarial losses (gross)$20.5 $22.9 
Unrecognized actuarial losses (net of tax)16.0 17.7 
Unrecognized prior service costs (gross)0.4 0.4 
Unrecognized prior service costs (net of tax)0.3 0.3 
Summary of Components of Net Periodic Benefit Cost
The components of net periodic benefit cost follow:
(in millions)202520242023
Service cost$1.8 $2.2 $2.1 
Interest cost3.4 5.5 6.3 
Expected return on plan assets(4.3)(7.0)(8.2)
Amortization of unrecognized net loss0.7 1.8 1.3 
Amortization of unrecognized prior service cost0.1 0.1 0.1 
Settlement expense 3.0 21.1 — 
Net periodic benefit cost$4.7 $23.7 $1.6 
Summary of Fair Value of the Plans Assets by Asset Category
The fair value measurement of the plans’ assets by asset category follows:
 Quoted Prices in Active Markets for Identical Assets (Level 1)
(in millions)December 31,
2025
December 31,
2024
Cash$3.5 $4.7 
U.S. treasury bonds6.7 6.4 
Mutual funds:  
Equity mutual funds (1)
6.7 5.6 
Fixed income mutual funds (2)
37.8 41.5 
Total$54.7 $58.2 
(1)This category is comprised of investments in mutual funds that invest in equity securities such as large publicly traded companies listed in the S&P 500 Index; small to medium sized companies with market capitalization in the range of the Russell 2500 Index; and foreign issuers in emerging markets.
(2)This category is comprised of investments in mutual funds that invest in U.S. corporate fixed income securities, including asset-backed securities; high yield fixed income securities primarily rated BB, B, CCC, CC, C and D; and US dollar denominated debt securities of government, government related and corporate issuers in emerging market countries.
Summary of Estimated Future Benefits to Be Paid for the Company's Defined Benefit Pension Plans and Post-Retirement Medical Plan
A summary of estimated future benefits to be paid for the Company’s defined benefit pension plans as of December 31, 2025, follows:
(in millions)202620272028202920302031-2035
Estimated benefit payments$9.5 $7.0 $6.6 $6.5 $5.9 $29.7 
v3.25.4
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Lease Cost The components of lease cost follow:
(in millions)202520242023
Operating lease cost
$37.6 $26.6 $21.2 
Variable lease cost
7.8 8.5 5.5 
Short-term lease cost10.8 8.1 6.9 
Total lease cost$56.2 $43.2 $33.6 
Summary of Lease Assets and Lease Liabilities
A summary of operating lease assets and liabilities included in the Consolidated Balance Sheet follows:
(in millions)
December 31,
2025
December 31,
2024
Other long-term assets$129.6 $121.6 
Other current liabilities30.2 25.7 
Other long-term liabilities105.4 100.5 
Summary of Maturity of Lease Liabilities
A maturity schedule of operating lease liabilities follows:
(in millions)
20262027202820292030ThereafterTotal
Lease payments$36.9 $27.7 $20.9 $18.7 $15.0 $48.9 $168.1 
Less: imputed interest(32.5)
Total lease liabilities$135.6 
Summary of Lease Term and Discount Rate
Lease Term and Discount Rate
December 31,
2025
December 31,
2024
Operating leases:
Weighted-average remaining lease term (in years)7.68.4
Weighted-average discount rate5.1 %5.1 %
Summary of Cash Payments for Income Taxes, Net of Refunds
Cash payments for income taxes, net of refunds, were as follows:
(in millions)202520242023
Federal$137.9 $259.4 $190.2 
State38.0 50.2 41.5 
Foreign29.6 14.6 16.0 
Total$205.5 $324.2 $247.7 
Supplemental Cash Flow Information
(in millions)202520242023
Operating lease liabilities - cash paid$36.0 $23.4 $19.9 
Operating lease liabilities - right-of-use assets obtained26.4 92.8 19.2 
v3.25.4
Summary of Accounting Policies - Basis of Presentation, Extended Product Warranty Contracts and Pension (Details)
12 Months Ended
Dec. 31, 2025
Retirement Plans  
Defined benefit plan, market related valuation method, period for change in fair value of plan assets 5 years
Minimum  
Retirement Plans  
Extended product warranty contracts, estimated life 5 years
Maximum  
Retirement Plans  
Extended product warranty contracts, estimated life 40 years
Weighted Average  
Retirement Plans  
Extended product warranty contracts, estimated life 20 years
v3.25.4
Summary of Accounting Policies - Machinery and Equipment (Details)
Dec. 31, 2025
Buildings | Minimum  
Property, Plant, and Equipment  
Property, plant and equipment, useful life 20 years
Buildings | Maximum  
Property, Plant, and Equipment  
Property, plant and equipment, useful life 40 years
Machinery and equipment | Minimum  
Property, Plant, and Equipment  
Property, plant and equipment, useful life 5 years
Machinery and equipment | Maximum  
Property, Plant, and Equipment  
Property, plant and equipment, useful life 15 years
Leasehold improvements | Minimum  
Property, Plant, and Equipment  
Property, plant and equipment, useful life 2 years
Leasehold improvements | Maximum  
Property, Plant, and Equipment  
Property, plant and equipment, useful life 20 years
v3.25.4
Summary of Accounting Policies Summary of Accounting Policies - Goodwill and Other Intangible Assets (Details)
12 Months Ended
Dec. 31, 2025
segment
reportingUnit
Accounting Policies [Abstract]  
Number of reporting units | reportingUnit 4
Number of reportable segments | segment 2
v3.25.4
Segment Information - Financial Information, Including Significant Expenses, By Reportable Segment (Details)
$ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting [Abstract]      
Number of reportable segments | segment 2    
Segment Information      
Revenue $ 5,019.9 $ 5,003.6 $ 4,586.9
Selling and administrative expenses 745.4 722.8 625.2
Research and development expenses 47.1 35.4 28.7
Other operating expense (income), net (2.4) (13.6) (2.5)
Operating income 1,002.5 1,143.1 982.8
Interest expense 78.5 73.3 75.6
Interest income (25.9) (60.3) (20.1)
Other non-operating expense (income), net 1.1 19.2 (3.1)
Income from continuing operations and before income taxes 948.8 1,110.9 930.4
Reportable Segments      
Segment Information      
Revenue 5,019.9 5,003.6 4,586.9
Cost of goods sold 3,226.3 3,112.1 2,945.6
Selling and administrative expenses 641.7 600.9 506.9
Research and development expenses 47.1 35.4 28.7
Other operating expense (income), net 5.7 (2.7) 3.9
Operating income 1,099.1 1,257.9 1,101.8
CCM      
Segment Information      
Revenue 3,721.7 3,704.3 3,253.4
Cost of goods sold 2,309.3 2,239.0 2,035.4
Selling and administrative expenses 383.2 362.7 287.3
Research and development expenses 32.7 23.7 18.0
Other operating expense (income), net (0.7) (5.4) (1.2)
Operating income 997.2 1,084.3 913.9
CWT      
Segment Information      
Revenue 1,298.2 1,299.3 1,333.5
Cost of goods sold 917.0 873.1 910.2
Selling and administrative expenses 258.5 238.2 219.6
Research and development expenses 14.4 11.7 10.7
Other operating expense (income), net 6.4 2.7 5.1
Operating income 101.9 173.6 187.9
Corporate Operating Income      
Segment Information      
Operating income $ 96.6 $ 114.8 $ 119.0
v3.25.4
Segment Information- Financial Information for Operations (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net Sales, EBIT, Assets continuing operations by reportable segment      
Depreciation and Amortization $ 196.5 $ 172.6 $ 151.1
Capital Expenditures 131.2 100.9 110.8
Operating Segments      
Net Sales, EBIT, Assets continuing operations by reportable segment      
Depreciation and Amortization 193.1 169.0 145.1
Capital Expenditures 130.9 100.9 110.5
Corporate and unallocated      
Net Sales, EBIT, Assets continuing operations by reportable segment      
Depreciation and Amortization 3.4 3.6 6.0
Capital Expenditures 0.3 0.0 0.3
CCM | Operating Segments      
Net Sales, EBIT, Assets continuing operations by reportable segment      
Depreciation and Amortization 89.3 80.7 57.0
Capital Expenditures 86.0 65.5 84.5
CWT | Operating Segments      
Net Sales, EBIT, Assets continuing operations by reportable segment      
Depreciation and Amortization 103.8 88.3 88.1
Capital Expenditures $ 44.9 $ 35.4 $ 26.0
v3.25.4
Segment Information - Net Sales and Long-lived Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Segment Information    
Long-lived assets $ 1,011.5 $ 901.4
United States    
Segment Information    
Long-lived assets 838.9 754.6
Europe    
Segment Information    
Long-lived assets 87.2 74.9
North America (excluding U.S.)    
Segment Information    
Long-lived assets 85.3 71.6
Other    
Segment Information    
Long-lived assets $ 0.1 $ 0.3
v3.25.4
Acquisitions - Narrative (Details) - USD ($)
2 Months Ended 6 Months Ended 8 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 17, 2025
Jun. 30, 2025
Apr. 30, 2025
Feb. 03, 2025
Dec. 31, 2024
Dec. 18, 2024
May 01, 2024
Nov. 08, 2023
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Acquisitions                                
Useful life of finite lived intangible assets                           11 years 10 months 24 days    
Goodwill $ 1,538,900,000         $ 1,478,000,000       $ 1,202,500,000 $ 1,538,900,000 $ 1,478,000,000 $ 1,538,900,000 $ 1,538,900,000 $ 1,478,000,000 $ 1,202,500,000
Operating income                           $ 1,002,500,000 $ 1,143,100,000 $ 982,800,000
Accrued and other current liabilities                 $ 200,000              
Technologies                                
Acquisitions                                
Useful life of finite lived intangible assets                           7 years 3 months 18 days    
Customer relationships                                
Acquisitions                                
Useful life of finite lived intangible assets                           12 years 3 months 18 days    
Bonded Logic                                
Acquisitions                                
Total cash consideration transferred 61,400,000   $ 60,700,000                          
Contribution to net sales since acquisition                     13,500,000          
Contribution to operating (loss) income since acquisition                     (4,000,000.0)          
Definite-lived intangible assets 9,000,000.0   9,000,000.0               9,000,000.0   9,000,000.0 $ 9,000,000.0    
Goodwill 34,700,000   35,900,000               34,700,000   34,700,000 34,700,000    
Property, plant and equipment 13,500,000   13,500,000               13,500,000   13,500,000 13,500,000    
Inventories 4,600,000   5,000,000.0               4,600,000   4,600,000 4,600,000    
Receivables, net 3,200,000   3,200,000               3,200,000   3,200,000 3,200,000    
Accounts payable 3,300,000   $ 3,300,000               $ 3,300,000   3,300,000 3,300,000    
Bonded Logic | Technologies                                
Acquisitions                                
Useful life of finite lived intangible assets                     15 years          
ThermaFoam                                
Acquisitions                                
Total cash consideration transferred 53,700,000       $ 52,900,000                      
Contribution to net sales since acquisition                         15,100,000      
Contribution to operating (loss) income since acquisition                         1,000,000.0      
Definite-lived intangible assets 6,700,000       6,700,000           $ 6,700,000   6,700,000 6,700,000    
Goodwill 34,900,000       34,700,000           34,900,000   34,900,000 34,900,000    
Goodwill deductible for tax purpose         34,700,000                      
Property, plant and equipment 8,800,000       8,800,000           8,800,000   8,800,000 8,800,000    
Inventories 1,400,000       1,400,000           1,400,000   1,400,000 1,400,000    
Receivables, net 2,900,000       2,700,000           2,900,000   2,900,000 2,900,000    
Accounts payable $ 800,000       900,000           $ 800,000   $ 800,000 $ 800,000    
ThermaFoam | Customer relationships                                
Acquisitions                                
Definite-lived intangible assets         $ 6,500,000                      
Useful life of finite lived intangible assets         9 years                      
PFB Holdco, Inc                                
Acquisitions                                
Total cash consideration transferred   $ 266,500,000         $ 268,900,000                  
Contribution to net sales since acquisition           1,300,000                    
Contribution to operating (loss) income since acquisition           $ (1,000,000.0)                    
Definite-lived intangible assets   124,300,000         112,800,000                  
Goodwill   123,700,000         145,000,000.0                  
Goodwill deductible for tax purpose             $ 0                  
Percentage of ownership interest acquired             100.00%                  
Cash and cash equivalents   6,400,000         $ 6,400,000                  
Business combination gross receivables             9,800,000                  
Receivables not expected to be collected             200,000                  
Deferred tax liabilities   30,100,000         27,900,000                  
Property, plant and equipment   31,400,000         31,700,000                  
Inventories   14,500,000         14,500,000                  
Receivables, net   9,600,000         9,600,000                  
Accounts payable   3,900,000         4,600,000                  
Accrued and other current liabilities   $ 11,700,000         $ 27,800,000                  
MTL Holdings LLC                                
Acquisitions                                
Total cash consideration transferred       $ 424,600,000       $ 423,100,000                
Contribution to net sales since acquisition                       86,900,000        
Contribution to operating (loss) income since acquisition                       $ 8,500,000        
Definite-lived intangible assets       248,300,000       248,300,000                
Goodwill       141,600,000       139,200,000                
Goodwill deductible for tax purpose               $ 132,800,000                
Percentage of ownership interest acquired               100.00%                
Cash and cash equivalents       10,300,000       $ 10,300,000                
Business combination gross receivables               14,100,000                
Receivables not expected to be collected               100,000                
Deferred tax liabilities       6,500,000       6,900,000                
Property, plant and equipment       10,400,000       10,700,000                
Inventories       16,800,000       17,200,000                
Receivables, net       14,000,000.0       14,000,000.0                
Accounts payable       5,900,000       5,900,000                
Accrued and other current liabilities       $ 6,100,000       6,100,000                
MTL Holdings LLC | Technologies                                
Acquisitions                                
Definite-lived intangible assets               $ 18,100,000                
Useful life of finite lived intangible assets               11 years                
MTL Holdings LLC | Customer relationships                                
Acquisitions                                
Definite-lived intangible assets               $ 183,100,000                
Useful life of finite lived intangible assets               13 years                
Polar Industries                                
Acquisitions                                
Total cash consideration transferred                 36,100,000              
Goodwill                 20,900,000              
Revenues                   2,400,000            
Operating income                   $ 100,000            
Property, plant and equipment                 9,400,000              
Inventories                 1,800,000              
Receivables, net                 1,800,000              
Accounts payable                 200,000              
Polar Industries | Customer relationships                                
Acquisitions                                
Definite-lived intangible assets                 $ 2,600,000              
Useful life of finite lived intangible assets                 9 years              
v3.25.4
Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions
6 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 17, 2025
Jun. 30, 2025
Apr. 30, 2025
Feb. 03, 2025
Dec. 18, 2024
May 01, 2024
Dec. 31, 2025
Dec. 31, 2025
Dec. 17, 2025
Apr. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Nov. 08, 2023
Preliminary Allocation                            
Accrued and other current liabilities                           $ (0.2)
Goodwill $ 1,538.9             $ 1,538.9 $ 1,538.9     $ 1,478.0 $ 1,202.5  
Bonded Logic                            
Acquisitions                            
Total cash consideration transferred 61.4   $ 60.7                      
Total cash consideration transferred               0.7            
Preliminary Allocation                            
Receivables, net 3.2   3.2         3.2 3.2          
Inventories 4.6   5.0         4.6 4.6          
Other current assets 0.0   0.1         0.0 0.0          
Property, plant and equipment 13.5   13.5         13.5 13.5          
Definite-lived intangible assets 9.0   9.0         9.0 9.0          
Other long-term assets 10.2   10.2         10.2 10.2          
Accounts payable (3.3)   (3.3)         (3.3) (3.3)          
Other current liabilities (2.8)   (5.2)         (2.8) (2.8)          
Other long-term liabilities (7.7)   (7.7)         (7.7) (7.7)          
Total identifiable net assets 26.7   24.8         26.7 26.7          
Goodwill 34.7   $ 35.9         34.7 34.7          
Measurement Period Adjustments                            
Receivables, net               0.0            
Inventories               (0.4)            
Other current assets               (0.1)            
Property, plant and equipment               0.0            
Definite-lived intangible assets               0.0            
Other long-term assets               0.0            
Accounts payable               0.0            
Other current liabilities               2.4            
Other long-term liabilities               0.0            
Total identifiable net assets               1.9            
Goodwill               (1.2)            
ThermaFoam                            
Acquisitions                            
Total cash consideration transferred 53.7       $ 52.9                  
Total cash consideration transferred                 0.8          
Preliminary Allocation                            
Receivables, net 2.9       2.7     2.9 2.9          
Inventories 1.4       1.4     1.4 1.4          
Other current assets 0.1       0.1     0.1 0.1          
Property, plant and equipment 8.8       8.8     8.8 8.8          
Definite-lived intangible assets 6.7       6.7     6.7 6.7          
Accounts payable (0.8)       (0.9)     (0.8) (0.8)          
Other current liabilities (0.3)       (0.6)     (0.3) (0.3)          
Total identifiable net assets 18.8       18.2     18.8 18.8          
Goodwill $ 34.9       $ 34.7     $ 34.9 34.9          
Measurement Period Adjustments                            
Receivables, net                 0.2          
Inventories                 0.0          
Other current assets                 0.0          
Property, plant and equipment                 0.0          
Definite-lived intangible assets                 0.0          
Accounts payable                 0.1          
Other current liabilities                 0.3          
Total identifiable net assets                 0.6          
Goodwill                 $ 0.2          
PFB Holdco, Inc                            
Acquisitions                            
Total cash consideration transferred   $ 266.5       $ 268.9                
Total cash consideration transferred                   $ (2.4)        
Preliminary Allocation                            
Cash and cash equivalents   6.4       6.4       6.4        
Receivables, net   9.6       9.6       9.6        
Inventories   14.5       14.5       14.5        
Prepaid expenses and other current assets   3.8       6.6       3.8        
Property, plant and equipment   31.4       31.7       31.4        
Definite-lived intangible assets   124.3       112.8       124.3        
Other long-term assets   49.4       46.1       49.4        
Accounts payable   (3.9)       (4.6)       (3.9)        
Accrued and other current liabilities   (11.7)       (27.8)       (11.7)        
Deferred income taxes   (30.1)       (27.9)       (30.1)        
Other long-term liabilities   (50.9)       (43.5)       (50.9)        
Total identifiable net assets   142.8       123.9       142.8        
Goodwill   $ 123.7       $ 145.0       123.7        
Measurement Period Adjustments                            
Cash and cash equivalents                   0.0        
Receivables, net                   0.0        
Inventories                   0.0        
Prepaid expenses and other current assets                   (2.8)        
Property, plant and equipment                   (0.3)        
Definite-lived intangible assets                   11.5        
Other long-term assets                   3.3        
Accounts payable                   0.7        
Accrued and other current liabilities                   16.1        
Deferred income taxes                   (2.2)        
Other long-term liabilities                   (7.4)        
Total identifiable net assets                   18.9        
Goodwill                   $ (21.3)        
MTL Holdings LLC                            
Acquisitions                            
Total cash consideration transferred       $ 424.6     $ 423.1              
Total cash consideration transferred                     $ 1.5      
Preliminary Allocation                            
Cash and cash equivalents       10.3     10.3       10.3      
Receivables, net       14.0     14.0       14.0      
Inventories       16.8     17.2       16.8      
Prepaid expenses and other current assets       0.9     0.9       0.9      
Property, plant and equipment       10.4     10.7       10.4      
Definite-lived intangible assets       248.3     248.3       248.3      
Other long-term assets       8.4     8.1       8.4      
Accounts payable       (5.9)     (5.9)       (5.9)      
Accrued and other current liabilities       (6.1)     (6.1)       (6.1)      
Deferred income taxes       (6.5)     (6.9)       (6.5)      
Other long-term liabilities       (7.6)     (6.7)       (7.6)      
Total identifiable net assets       283.0     283.9       283.0      
Goodwill       $ 141.6     $ 139.2       141.6      
Measurement Period Adjustments                            
Cash and cash equivalents                     0.0      
Receivables, net                     0.0      
Inventories                     (0.4)      
Prepaid expenses and other current assets                     0.0      
Property, plant and equipment                     (0.3)      
Definite-lived intangible assets                     0.0      
Other long-term assets                     0.3      
Accounts payable                     0.0      
Accrued and other current liabilities                     0.0      
Deferred income taxes                     0.4      
Other long-term liabilities                     (0.9)      
Total identifiable net assets                     (0.9)      
Goodwill                     $ 2.4      
v3.25.4
Acquisitions - Definite-lived Intangible Assets (Details) - USD ($)
$ in Millions
12 Months Ended
Feb. 03, 2025
Dec. 18, 2024
May 01, 2024
Dec. 31, 2025
Apr. 30, 2025
Acquisitions          
Weighted Average Useful Life (in years)       11 years 10 months 24 days  
Customer relationships          
Acquisitions          
Weighted Average Useful Life (in years)       12 years 3 months 18 days  
Indefinite-lived trade names          
Acquisitions          
Weighted Average Useful Life (in years)       14 years 7 months 6 days  
Technologies          
Acquisitions          
Weighted Average Useful Life (in years)       7 years 3 months 18 days  
ThermaFoam          
Acquisitions          
Fair Value $ 6.7     $ 6.7  
ThermaFoam | Customer relationships          
Acquisitions          
Fair Value $ 6.5        
Weighted Average Useful Life (in years) 9 years        
ThermaFoam | Other intangibles          
Acquisitions          
Fair Value $ 0.2        
Weighted Average Useful Life (in years) 5 years        
PFB Holdco, Inc          
Acquisitions          
Fair Value   $ 124.3      
PFB Holdco, Inc | Customer relationships          
Acquisitions          
Fair Value   $ 81.5      
Weighted Average Useful Life (in years)   11 years      
PFB Holdco, Inc | Indefinite-lived trade names          
Acquisitions          
Fair Value   $ 15.0      
Weighted Average Useful Life (in years)   15 years      
PFB Holdco, Inc | Technologies          
Acquisitions          
Fair Value   $ 27.8      
Weighted Average Useful Life (in years)   11 years      
MTL Holdings LLC          
Acquisitions          
Fair Value     $ 248.3   $ 248.3
MTL Holdings LLC | Customer relationships          
Acquisitions          
Fair Value     $ 183.1    
Weighted Average Useful Life (in years)     13 years    
MTL Holdings LLC | Indefinite-lived trade names          
Acquisitions          
Fair Value     $ 44.6    
Weighted Average Useful Life (in years)     19 years    
MTL Holdings LLC | Technologies          
Acquisitions          
Fair Value     $ 18.1    
Weighted Average Useful Life (in years)     11 years    
MTL Holdings LLC | Software          
Acquisitions          
Fair Value     $ 2.5    
Weighted Average Useful Life (in years)     5 years    
v3.25.4
Discontinued Operations - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
May 21, 2024
Oct. 02, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Income before income taxes     $ 0.3 $ 480.3 $ 21.7
Discontinued Operations, Disposed of by Sale          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Income before income taxes     0.3 480.3 21.7
Provision for income taxes     2.1 33.6 (26.8)
Net cash used in operating activities     $ (1.8) (8.9) 164.1
CIT | Discontinued Operations, Disposed of by Sale          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Proceeds from cash $ 2,025.0        
Income before income taxes       513.5 88.7
Provision for income taxes       49.0 1.3
Net cash used in operating activities       8.9 113.3
CFT | Discontinued Operations, Disposed of by Sale          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Proceeds from cash   $ 520.0      
Income before income taxes       (27.8) (65.2)
Provision for income taxes       (9.5) (26.2)
Net cash used in operating activities       $ (18.3) $ 50.7
v3.25.4
Discontinued Operations - Results from Discontinued Operations (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Income before income taxes $ 0.3 $ 480.3 $ 21.7
Income (loss) from discontinued operations (1.8) 446.7 48.5
Discontinued Operations, Disposed of by Sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Revenues   328.6 1,113.2
Cost of goods sold   237.5 796.1
Impairment     24.8
Other operating expenses, net   34.4 175.5
Operating income   56.7 116.8
Other non-operating (income) expense, net   30.8 1.3
Income (loss) from discontinued operations before income taxes and (loss) gain on sale   25.9 115.5
Pre-close transaction expenses     11.3
Loss (gain) on sale of discontinued operations   (454.4) 82.5
Income before income taxes 0.3 480.3 21.7
Provision for (benefit from) income taxes $ 2.1 33.6 (26.8)
Income (loss) from discontinued operations   446.7 48.5
CIT | Discontinued Operations, Disposed of by Sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Revenues   328.6 886.1
Cost of goods sold   237.5 666.9
Impairment     0.0
Other operating expenses, net   34.4 119.7
Operating income   56.7 99.5
Other non-operating (income) expense, net   0.5 (0.5)
Income (loss) from discontinued operations before income taxes and (loss) gain on sale   56.2 100.0
Pre-close transaction expenses     11.3
Loss (gain) on sale of discontinued operations   (457.3) 0.0
Income before income taxes   513.5 88.7
Provision for (benefit from) income taxes   49.0 1.3
Income (loss) from discontinued operations   464.5 87.4
CFT | Discontinued Operations, Disposed of by Sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Revenues   0.0 227.1
Cost of goods sold   0.0 129.2
Impairment     24.8
Other operating expenses, net   0.0 55.8
Operating income   0.0 17.3
Other non-operating (income) expense, net   24.9 0.0
Income (loss) from discontinued operations before income taxes and (loss) gain on sale   (24.9) 17.3
Pre-close transaction expenses     0.0
Loss (gain) on sale of discontinued operations   2.9 82.5
Income before income taxes   (27.8) (65.2)
Provision for (benefit from) income taxes   (9.5) (26.2)
Income (loss) from discontinued operations   (18.3) (39.0)
Other | Discontinued Operations, Disposed of by Sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Revenues   0.0 0.0
Cost of goods sold   0.0 0.0
Impairment     0.0
Other operating expenses, net   0.0 0.0
Operating income   0.0 0.0
Other non-operating (income) expense, net   5.4 1.8
Income (loss) from discontinued operations before income taxes and (loss) gain on sale   (5.4) (1.8)
Pre-close transaction expenses     0.0
Loss (gain) on sale of discontinued operations   0.0 0.0
Income before income taxes   (5.4) (1.8)
Provision for (benefit from) income taxes   (5.9) (1.9)
Income (loss) from discontinued operations   $ 0.5 $ 0.1
v3.25.4
Discontinued Operations - Summary of Cash Flows from Discontinued Operations (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Change in cash and cash equivalents from discontinued operations $ 0.0 $ (28.8) $ (6.4)
Discontinued Operations, Disposed of by Sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Net cash provided by (used in) operating activities (1.8) (8.9) 164.1
Net cash provided by (used in) investing activities   1,986.3 480.2
Net cash provided by (used in) financing activities   (2,006.2) (650.7)
Change in cash and cash equivalents from discontinued operations   (28.8) (6.4)
Cash and cash equivalents from discontinued operations at beginning of period 0.0 28.8 35.2
Cash and cash equivalents from discontinued operations at end of period   0.0 28.8
CIT | Discontinued Operations, Disposed of by Sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Net cash provided by (used in) operating activities   8.9 113.3
Net cash provided by (used in) investing activities   1,986.3 (28.8)
Net cash provided by (used in) financing activities   (2,024.0) (79.6)
Change in cash and cash equivalents from discontinued operations   (28.8) 4.9
Cash and cash equivalents from discontinued operations at beginning of period 0.0 28.8 23.9
Cash and cash equivalents from discontinued operations at end of period   0.0 28.8
CFT | Discontinued Operations, Disposed of by Sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Net cash provided by (used in) operating activities   (18.3) 50.7
Net cash provided by (used in) investing activities   0.0 509.0
Net cash provided by (used in) financing activities   18.3 (571.0)
Change in cash and cash equivalents from discontinued operations   0.0 (11.3)
Cash and cash equivalents from discontinued operations at beginning of period 0.0 0.0 11.3
Cash and cash equivalents from discontinued operations at end of period   0.0 0.0
Other | Discontinued Operations, Disposed of by Sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Net cash provided by (used in) operating activities   0.5 0.1
Net cash provided by (used in) investing activities   0.0 0.0
Net cash provided by (used in) financing activities   (0.5) (0.1)
Change in cash and cash equivalents from discontinued operations   0.0 0.0
Cash and cash equivalents from discontinued operations at beginning of period $ 0.0 0.0 0.0
Cash and cash equivalents from discontinued operations at end of period   $ 0.0 $ 0.0
v3.25.4
Earnings Per Share - Narrative (Details)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Percentage of nonforfeitable dividends 1
Percent allocated to common stockholders 100.00%
v3.25.4
Earnings Per Share - Summary of Basic and Diluted Earnings Per Share and Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Income from continuing operations $ 742.5 $ 865.1 $ 718.9
Less: Income allocated to participating securities 1.5 1.7 1.6
Income available to common stockholders $ 741.0 $ 863.4 $ 717.3
Shares:      
Basic weighted-average shares outstanding (in shares) 42.8 46.5 49.9
Effect of dilutive securities (in shares) 0.4 0.6 0.5
Diluted weighted-average shares outstanding (in shares) 43.2 47.1 50.4
Earnings per share from continuing operations attributable to common shares:      
Basic (in dollars per share) $ 17.31 $ 18.58 $ 14.38
Diluted (in dollars per share) $ 17.16 $ 18.34 $ 14.22
Anti-dilutive stock options excluded from earnings per share calculation (in shares) 0.1 0.0 0.6
v3.25.4
Revenue Recognition - Timing of Revenue Recognition and Reconciliation of Disaggregate Revenue (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Revenues $ 5,019.9 $ 5,003.6 $ 4,586.9
United States      
Disaggregation of Revenue [Line Items]      
Revenues 4,500.3 4,527.2 4,130.1
International:      
Disaggregation of Revenue [Line Items]      
Revenues 519.6 476.4 456.8
Europe      
Disaggregation of Revenue [Line Items]      
Revenues 250.7 237.8 211.8
North America (excluding U.S.)      
Disaggregation of Revenue [Line Items]      
Revenues 231.0 194.7 198.0
Other      
Disaggregation of Revenue [Line Items]      
Revenues 37.9 43.9 47.0
Non-residential construction      
Disaggregation of Revenue [Line Items]      
Revenues 4,028.7 3,998.5 3,529.9
Residential construction      
Disaggregation of Revenue [Line Items]      
Revenues 863.1 877.1 935.2
Other      
Disaggregation of Revenue [Line Items]      
Revenues 128.1 128.0 121.8
CCM      
Disaggregation of Revenue [Line Items]      
Revenues 3,721.7 3,704.3 3,253.4
CCM | United States      
Disaggregation of Revenue [Line Items]      
Revenues 3,392.0 3,373.7 2,949.3
CCM | International:      
Disaggregation of Revenue [Line Items]      
Revenues 329.7 330.6 304.1
CCM | Europe      
Disaggregation of Revenue [Line Items]      
Revenues 231.9 217.3 192.7
CCM | North America (excluding U.S.)      
Disaggregation of Revenue [Line Items]      
Revenues 75.7 85.0 85.4
CCM | Other      
Disaggregation of Revenue [Line Items]      
Revenues 22.1 28.3 26.0
CCM | Non-residential construction      
Disaggregation of Revenue [Line Items]      
Revenues 3,432.9 3,414.9 2,986.0
CCM | Residential construction      
Disaggregation of Revenue [Line Items]      
Revenues 288.8 289.4 267.4
CCM | Other      
Disaggregation of Revenue [Line Items]      
Revenues 0.0 0.0 0.0
CWT      
Disaggregation of Revenue [Line Items]      
Revenues 1,298.2 1,299.3 1,333.5
CWT | United States      
Disaggregation of Revenue [Line Items]      
Revenues 1,108.3 1,153.5 1,180.8
CWT | International:      
Disaggregation of Revenue [Line Items]      
Revenues 189.9 145.8 152.7
CWT | Europe      
Disaggregation of Revenue [Line Items]      
Revenues 18.8 20.5 19.1
CWT | North America (excluding U.S.)      
Disaggregation of Revenue [Line Items]      
Revenues 155.3 109.7 112.6
CWT | Other      
Disaggregation of Revenue [Line Items]      
Revenues 15.8 15.6 21.0
CWT | Non-residential construction      
Disaggregation of Revenue [Line Items]      
Revenues 595.8 583.6 543.9
CWT | Residential construction      
Disaggregation of Revenue [Line Items]      
Revenues 574.3 587.7 667.8
CWT | Other      
Disaggregation of Revenue [Line Items]      
Revenues $ 128.1 $ 128.0 $ 121.8
v3.25.4
Revenue Recognition - Narrative (Details) - Net sales - Customer
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Beacon Roofing Supply, Inc      
Disaggregation of Revenue [Line Items]      
Concentration risk (as a percent) 16.70% 17.80% 16.40%
ABC Supply Co.      
Disaggregation of Revenue [Line Items]      
Concentration risk (as a percent) 16.30% 15.90% 15.30%
v3.25.4
Revenue Recognition - Contract Balances (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Change in Contract with Customer, Liability [RollForward]      
Beginning balance $ 350.5 $ 324.0 $ 294.8
Revenue deferred 52.5 55.3 56.1
Revenue recognized (30.7) (28.8) (26.9)
Ending balance $ 372.3 $ 350.5 $ 324.0
v3.25.4
Revenue Recognition - Remaining Performance Obligation (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Extended service warranties $ 29.8
Extended service warranties, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Extended service warranties $ 29.3
Extended service warranties, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Extended service warranties $ 28.2
Extended service warranties, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Extended service warranties $ 27.3
Extended service warranties, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Extended service warranties $ 26.4
Extended service warranties, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2031-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Extended service warranties $ 231.3
Extended service warranties, period
v3.25.4
Stock-Based Compensation - Narrative (Details)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
shares
Stock-based compensation  
Unrecognized compensation cost related to stock options | $ $ 35.4
Weighted average period of recognition of unrecognized compensation cost related to restricted stock awards 1 year 6 months
Stock options - annual equity grant  
Stock-based compensation  
Stock options granted (in shares) 108
Restricted stock awards  
Stock-based compensation  
Awards granted (in shares) 30
Unrecognized compensation cost related to stock options | $ $ 9.3
Vesting period of shares awarded under the Program 3 years
Weighted average period of recognition of unrecognized compensation cost related to restricted stock awards 1 year 8 months 12 days
Performance share awards  
Stock-based compensation  
Awards granted (in shares) 20
Unrecognized compensation cost related to stock options | $ $ 10.7
Vesting period of shares awarded under the Program 3 years
Weighted average period of recognition of unrecognized compensation cost related to restricted stock awards 1 year 8 months 12 days
Measurement period 3 years
Stock option awards  
Stock-based compensation  
Stock options granted (in shares) 108
Unrecognized compensation cost related to stock options | $ $ 7.5
Vesting period of shares awarded under the Program 3 years
Maximum term life 10 years
Executive Incentive Program  
Stock-based compensation  
Shares available for grant under the plan (in shares) 2,700
Executive Incentive Program | Restricted shares, performance shares, or other full value awards  
Stock-based compensation  
Shares available for grant under the plan (in shares) 800
v3.25.4
Stock-Based Compensation - Stock Award Information (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stock-based compensation      
Total stock-based compensation cost incurred $ 34.4 $ 32.8 $ 31.5
Capitalized cost during the period (1.9) (3.3) (4.5)
Amortization of capitalized cost during the period 2.3 3.4 4.7
Total stock-based compensation expense 34.8 32.9 31.7
Income tax benefit 17.8 18.7 11.4
Stock option awards      
Stock-based compensation      
Total stock-based compensation cost incurred 13.1 14.0 14.4
Restricted stock awards      
Stock-based compensation      
Total stock-based compensation cost incurred 10.8 9.4 8.3
Performance share awards      
Stock-based compensation      
Total stock-based compensation cost incurred $ 10.5 $ 9.4 $ 8.8
v3.25.4
Stock-Based Compensation - Fair Value Assumptions (Details) - Stock options - annual equity grant
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stock-based compensation      
Expected dividend yield 1.00% 1.20% 1.20%
Expected term (in years) 4 years 6 months 4 years 8 months 12 days 4 years 7 months 6 days
Expected volatility 28.70% 32.10% 32.40%
Risk-free interest rate 4.20% 3.90% 3.60%
v3.25.4
Stock-Based Compensation - Summary of Stock Option Activity Under the Company's Stock Option Awards (Details) - Stock option awards - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of Units      
Outstanding at the beginning of the period (in shares) 875    
Options granted (in shares) 108    
Options exercised (in shares) (119)    
Options forfeited / expired (in shares) (36)    
Outstanding at the end of the period (in shares) 828 875  
Vested and exercisable at the end of the period (in shares) 606    
Weighted-Average Exercise Price      
Outstanding at the beginning of the period (in dollars per share) $ 227.97    
Options granted (in dollars per share) 395.46    
Options exercised (in dollars per share) 195.71    
Options forfeited / expired (in dollars per share) 304.86    
Outstanding at the end of the period (in dollars per share) 251.17 $ 227.97  
Vested and exercisable at the end of the period (in dollars per share) $ 219.08    
Weighted average contractual term 6 years    
Weighted average contractual term of options vested and exercisable 5 years 2 months 12 days    
Aggregate intrinsic value of options outstanding $ 64.6    
Aggregate intrinsic value of options vested and exercisable $ 61.2    
Weighted average grant date fair value (in dollars per share) $ 112.37 $ 97.11 $ 74.20
Intrinsic value of options exercised (in millions) $ 21.1 $ 118.2 $ 23.5
v3.25.4
Stock-Based Compensation - Summary of Activity Related to Restricted Stock (Details) - Restricted stock awards - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of Shares      
Outstanding at beginning of period ( in shares) 100    
Shares granted (in shares) 30    
Shares vested (in shares) (35)    
Shares forfeited (in shares) (2)    
Outstanding at end of period (in shares) 93 100  
Weighted-Average Grant Date Fair Value      
Outstanding at beginning of period (in dollars per share) $ 265.53    
Shares granted (in dollars per share) 387.39 $ 337.83 $ 250.83
Shares vested (in dollars per share) 245.31    
Shares forfeited (in dollars per share) 330.78    
Outstanding at end of period (in dollars per share) $ 312.23 $ 265.53  
Weighted average contractual term 1 year    
Aggregate intrinsic value $ 29.7    
v3.25.4
Stock-Based Compensation - Additional Information Related to Restricted Stock (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restricted stock awards      
Stock-based compensation      
Weighted-average grant date fair value (in dollars per share) $ 387.39 $ 337.83 $ 250.83
Intrinsic value of restricted stock awards vested (in millions) $ 12.7 $ 18.5 $ 10.7
Performance share awards      
Stock-based compensation      
Weighted-average grant date fair value (in dollars per share) $ 570.01 $ 467.92 $ 368.47
Intrinsic value of performance share awards vested (in millions) $ 24.8 $ 31.0 $ 19.9
v3.25.4
Stock-Based Compensation - Summary of Activity Related to Performance Shares (Details) - Performance share awards - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of Shares      
Outstanding at beginning of period ( in shares) 90    
Awards granted (in shares) 20    
Awards vested (in shares) (71)    
Awards converted (in shares) 35    
Awards forfeited (in shares) (2)    
Outstanding at end of period (in shares) 72 90  
Weighted-Average Grant Date Fair Value      
Outstanding at beginning of period (in dollars per share) $ 368.42    
Awards granted (in dollars per share) 570.01 $ 467.92 $ 368.47
Award vested (in dollars per share) 310.22    
Awards converted (in dollars per share) 310.37    
Awards forfeited (in dollars per share) 482.33    
Outstanding at end of period (in dollars per share) $ 449.29 $ 368.42  
Weighted average contractual term 10 months 24 days    
Aggregate intrinsic value $ 23.2    
v3.25.4
Income Taxes - Pre-tax Income and Provision (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Continuing operations:      
U.S. domestic $ 942.1 $ 1,106.5 $ 924.1
Foreign 6.7 4.4 6.3
Income from continuing operations before income taxes 948.8 1,110.9 930.4
Discontinued operations:      
U.S. domestic 0.3 (15.2) (121.9)
Foreign 0.0 495.5 143.6
Income from discontinued operations before income taxes 0.3 480.3 21.7
Total income before income taxes 949.1 1,591.2 952.1
Current provision:      
Federal 153.4 231.7 195.8
State 41.9 50.4 39.4
Foreign 1.2 22.8 4.5
Total current provision 196.5 304.9 239.7
Deferred provision:      
Federal 15.5 (27.8) (18.2)
State (1.7) (7.8) (2.0)
Foreign (4.0) (23.5) (8.0)
Total deferred provision 9.8 (59.1) (28.2)
Total provision for income taxes $ 206.3 $ 245.8 $ 211.5
v3.25.4
Income Taxes - Summary of Reconciliation of Taxes from Continuing Operations (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of taxes from continuing operations      
Taxes at U.S. statutory rate $ 199.2 $ 233.3 $ 195.4
State and local taxes, net of federal income tax benefit 31.4 33.8 31.4
Tax credits (12.6) (9.1) (3.3)
Other, net (11.7) (12.2) (12.0)
Total provision for income taxes $ 206.3 $ 245.8 $ 211.5
Reconciliation of taxes from continuing operations, percent      
Taxes at U.S. statutory rate 21.00% 21.00% 21.00%
State and local taxes, net of federal income tax benefit 3.30% 3.00% 3.40%
Tax credits (1.30%) (0.80%) (0.40%)
Other, net (1.20%) (1.10%) (1.30%)
Effective Tax Rate 21.70% 22.10% 22.70%
Tax Jurisdiction of Domicile [Extensible Enumeration] United States United States United States
v3.25.4
Income Taxes - Summary of Cash Payments for Income Taxes, Net of Refunds (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Federal $ 137.9 $ 259.4 $ 190.2
State 38.0 50.2 41.5
Foreign 29.6 14.6 16.0
Total $ 205.5 $ 324.2 $ 247.7
v3.25.4
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets (liabilities)    
U.S. federal tax attributes $ 39.7 $ 37.6
Deferred revenue 37.1 35.9
Employee benefits 30.0 30.9
Capitalized research and development costs 0.0 29.4
Lease liabilities 27.3 22.8
U.S. state tax attributes 22.2 19.2
Non-U.S. tax attributes 18.3 15.7
Other, net 26.0 21.7
Gross deferred assets 200.6 213.2
Valuation allowances (52.0) (51.7)
Deferred tax assets after valuation allowances 148.6 161.5
Intangibles (297.7) (308.1)
Property, plant and equipment (54.3) (47.7)
Right of use assets (25.7) (21.6)
Undistributed foreign earnings (6.7) (6.3)
Gross deferred liabilities (384.4) (383.7)
Net deferred tax liabilities $ (235.8) $ (222.2)
v3.25.4
Income Taxes - Balance Sheet Location for Deferred Items (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets (liabilities)    
Other long-term assets $ 148.6 $ 161.5
Deferred taxes (384.4) (383.7)
Net deferred tax liabilities (235.8) (222.2)
Other long-term assets    
Deferred tax assets (liabilities)    
Other long-term assets 9.8 6.0
Other long-term liabilities    
Deferred tax assets (liabilities)    
Deferred taxes $ (245.6) $ (228.2)
v3.25.4
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Federal capital loss carryforwards $ 37.6    
Foreign tax credit carryforwards 2.1    
Deferred tax asset for state tax loss carry forwards 22.2    
Valuation allowance on state tax losses 11.4    
Non-U.S. tax attributes 18.3 $ 15.7  
Valuation allowance on foreign tax losses 0.9    
Undistributed foreign earnings 6.7 6.3  
Uncertain tax position that would impact effective tax rate 10.7    
Total amount of interest and penalties accrued $ 1.4 $ 1.2 $ 1.2
v3.25.4
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of the beginning and ending amount of unrecognized tax benefits      
Balance at the beginning of the period $ 9.6 $ 7.3 $ 6.4
Additions based on tax positions related to current year 3.6 3.1 3.3
Reductions due to statute of limitations (0.8) (0.8) (2.7)
Reductions due to settlements 0.0 0.0 (0.2)
Adjustments due to foreign exchange rates (0.3) 0.0 0.5
Balance at the end of the period $ 12.1 $ 9.6 $ 7.3
v3.25.4
Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Raw materials $ 169.6 $ 157.0
Work-in-process 25.1 26.1
Finished goods 266.5 299.8
Reserves (13.9) (10.2)
Inventories $ 447.3 $ 472.7
v3.25.4
Property, Plant and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Property, Plant, and Equipment    
Property, plant and equipment, gross $ 1,581.1 $ 1,414.3
Accumulated depreciation (774.0) (702.5)
Property, plant and equipment, net 807.1 711.8
Land    
Property, Plant, and Equipment    
Property, plant and equipment, gross 57.8 50.8
Buildings and leasehold improvements    
Property, Plant, and Equipment    
Property, plant and equipment, gross 500.7 475.0
Machinery and equipment    
Property, Plant, and Equipment    
Property, plant and equipment, gross 828.5 763.5
Projects in progress    
Property, Plant, and Equipment    
Property, plant and equipment, gross $ 194.1 $ 125.0
v3.25.4
Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Changes in the carrying amount of goodwill    
Goodwill, Balance at the beginning of the period $ 1,478.0 $ 1,202.5
Goodwill acquired during the year 69.6 286.0
Currency translation and other (8.7) (10.5)
Goodwill, Balance at the end of the period 1,538.9 1,478.0
CCM    
Changes in the carrying amount of goodwill    
Goodwill, Balance at the beginning of the period 1,073.1 934.7
Goodwill acquired during the year 0.0 141.0
Currency translation and other 5.8 (2.6)
Goodwill, Balance at the end of the period 1,078.9 1,073.1
CWT    
Changes in the carrying amount of goodwill    
Goodwill, Balance at the beginning of the period 404.9 267.8
Goodwill acquired during the year 69.6 145.0
Currency translation and other (14.5) (7.9)
Goodwill, Balance at the end of the period $ 460.0 $ 404.9
v3.25.4
Goodwill and Other Intangible Assets - Other Intangibles and Amortization (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Other intangible assets    
Other intangible assets, Acquired Cost $ 2,099.2 $ 2,048.4
Accumulated Amortization (673.7) (543.5)
Other intangible assets, net $ 1,425.5 1,504.9
Subject of amortization [Abstract]    
Total assets subject to amortization 11 years 10 months 24 days  
Estimated amortization expense    
2026 $ 123.5  
2027 109.6  
2028 105.9  
2029 99.1  
2030 90.7  
Thereafter 642.3  
Indefinite-lived trade names    
Assets not subject to amortization:    
Acquired Cost 254.4 252.0
Accumulated Amortization 0.0 0.0
Net Book Value 254.4 252.0
Customer relationships    
Other intangible assets    
Acquired Cost 1,479.6 1,456.0
Accumulated Amortization (483.6) (380.5)
Net Book Value $ 996.0 1,075.5
Subject of amortization [Abstract]    
Total assets subject to amortization 12 years 3 months 18 days  
Technologies    
Other intangible assets    
Acquired Cost $ 203.3 185.6
Accumulated Amortization (116.6) (103.4)
Net Book Value $ 86.7 82.2
Subject of amortization [Abstract]    
Total assets subject to amortization 7 years 3 months 18 days  
Indefinite-lived trade names    
Other intangible assets    
Acquired Cost $ 117.6 117.0
Accumulated Amortization (43.1) (37.0)
Net Book Value $ 74.5 80.0
Subject of amortization [Abstract]    
Total assets subject to amortization 14 years 7 months 6 days  
Other    
Other intangible assets    
Acquired Cost $ 44.3 37.8
Accumulated Amortization (30.4) (22.6)
Net Book Value $ 13.9 $ 15.2
Subject of amortization [Abstract]    
Total assets subject to amortization 1 year 4 months 24 days  
v3.25.4
Goodwill and Other Intangible Assets - Net Carrying Value of Other Intangibles (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Net book value of other intangible assets by the reportable segment    
Other intangible assets $ 1,425.5 $ 1,504.9
Corporate    
Net book value of other intangible assets by the reportable segment    
Other intangible assets 0.4 2.2
Carlisle Construction Materials    
Net book value of other intangible assets by the reportable segment    
Other intangible assets 314.9 343.0
Carlisle Weatherproofing Technologies    
Net book value of other intangible assets by the reportable segment    
Other intangible assets $ 1,110.2 $ 1,159.7
v3.25.4
Other Current Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Payables and Accruals [Abstract]    
Accrued customer incentives $ 117.9 $ 112.2
Accrued compensation and benefits 78.9 96.3
Accrued income and other taxes 147.8 55.3
Other 158.4 140.9
Other current liabilities $ 503.0 $ 404.7
v3.25.4
Long-term Debt - Summary of Long Term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Aug. 20, 2025
Dec. 31, 2024
Sep. 28, 2021
Feb. 28, 2020
Nov. 16, 2017
Borrowings            
Unamortized discount and debt issuance costs $ (27.3)   $ (16.4)      
Other 13.7   7.0      
Total debt 2,886.4   1,890.6      
Less: current portion of debt 4.8   3.2      
Long-term debt $ 2,881.6   1,887.4      
5.55% Notes due 2040            
Borrowings            
Interest rate (as a percent) 5.55% 5.55%        
Long-term debt, carrying amount $ 500.0   0.0      
5.55% Notes due 2040 | Significant Observable Inputs (Level 2)            
Borrowings            
Fair value of notes $ 505.6   0.0      
5.25% Notes due 2035            
Borrowings            
Interest rate (as a percent) 5.25% 5.25%        
Long-term debt, carrying amount $ 500.0   0.0      
5.25% Notes due 2035 | Significant Observable Inputs (Level 2)            
Borrowings            
Fair value of notes $ 511.1   0.0      
2.20% Notes due 2032            
Borrowings            
Interest rate (as a percent) 2.20%     2.20%    
Long-term debt, carrying amount $ 550.0   550.0      
2.20% Notes due 2032 | Significant Observable Inputs (Level 2)            
Borrowings            
Fair value of notes $ 479.4   448.7      
2.75% Notes due 2030            
Borrowings            
Interest rate (as a percent) 2.75%       2.75%  
Long-term debt, carrying amount $ 750.0   750.0      
2.75% Notes due 2030 | Significant Observable Inputs (Level 2)            
Borrowings            
Fair value of notes $ 707.8   672.2      
3.75% Notes due 2027            
Borrowings            
Interest rate (as a percent) 3.75%         3.75%
Long-term debt, carrying amount $ 600.0   600.0      
3.75% Notes due 2027 | Significant Observable Inputs (Level 2)            
Borrowings            
Fair value of notes $ 597.1   $ 584.1      
v3.25.4
Long-term Debt (Details) - USD ($)
12 Months Ended
Aug. 20, 2025
Sep. 28, 2021
Feb. 28, 2020
Nov. 16, 2017
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Borrowings              
Proceeds from notes         $ 987,800,000 $ 0 $ 0
Percentage of principal amount at which the entity may redeem some or all of the notes prior to specified date         100.00%    
Percentage of the principal amount at which the notes are redeemable, upon a change in control         101.00%    
Financing costs incurred         $ 27,300,000 16,400,000  
Borrowings from revolving credit facility         0 22,000,000.0 84,000,000.0
Repayments of revolving credit facility         0 22,000,000.0 84,000,000.0
Letters of credit outstanding         48,800,000 22,800,000  
Cash payments for interest         $ 56,200,000 70,200,000 $ 71,900,000
5.55% Notes due 2040              
Borrowings              
Interest rate (as a percent) 5.55%       5.55%    
Notes issued in public offering $ 500,000,000.0            
Unamortized discount 7,300,000            
Proceeds from issuance of debt 492,700,000            
Issuance costs including underwriter's, credit rating agencies' and attorneys' fees and other costs, which are included in other long-term assets $ 1,000,000.0            
5.25% Notes due 2035              
Borrowings              
Interest rate (as a percent) 5.25%       5.25%    
Notes issued in public offering $ 500,000,000.0            
Unamortized discount 5,000,000.0            
Proceeds from issuance of debt 495,000,000.0            
Issuance costs including underwriter's, credit rating agencies' and attorneys' fees and other costs, which are included in other long-term assets $ 1,000,000.0            
2.20% Notes due 2032              
Borrowings              
Interest rate (as a percent)   2.20%     2.20%    
Unamortized discount   $ 4,800,000          
Proceeds from issuance of debt   545,200,000          
Issuance costs including underwriter's, credit rating agencies' and attorneys' fees and other costs, which are included in other long-term assets   1,100,000          
Proceeds from notes   $ 550,000,000.0          
2.75% Notes due 2030              
Borrowings              
Interest rate (as a percent)     2.75%   2.75%    
Notes issued in public offering     $ 750,000,000.0        
Unamortized discount     9,300,000        
Proceeds from issuance of debt     740,700,000        
Issuance costs including underwriter's, credit rating agencies' and attorneys' fees and other costs, which are included in other long-term assets     6,500,000        
Accumulated loss on treasury locks     16,400,000        
Debt discount and issuance costs     $ 15,800,000        
3.75% Notes due 2027              
Borrowings              
Interest rate (as a percent)       3.75% 3.75%    
Notes issued in public offering       $ 600,000,000.0      
Unamortized discount       2,400,000      
Proceeds from issuance of debt       597,600,000      
Issuance costs including underwriter's, credit rating agencies' and attorneys' fees and other costs, which are included in other long-term assets       $ 7,700,000      
Credit Agreement | Revolving Credit Facility              
Borrowings              
Borrowings outstanding         $ 0    
Remaining borrowing capacity         1,000,000,000.0    
Borrowings from revolving credit facility         0 22,000,000  
Repayments of revolving credit facility         0 $ 22,000,000  
Weighted average interest rate, over time           8.50%  
Credit Agreement | Revolving Credit Facility | Line of Credit              
Borrowings              
Maximum borrowing capacity         $ 1,000,000,000    
Financing costs incurred           $ 1,900,000  
Credit Agreement | Revolving Credit Facility | Line of Credit | Minimum              
Borrowings              
Commitment fee percentage         0.05%    
Credit Agreement | Revolving Credit Facility | Line of Credit | Minimum | Base Rate              
Borrowings              
Basis spread on interest rate (percent)         0.00%    
Credit Agreement | Revolving Credit Facility | Line of Credit | Minimum | Applicable Benchmark Rate              
Borrowings              
Basis spread on interest rate (percent)         0.825%    
Credit Agreement | Revolving Credit Facility | Line of Credit | Maximum              
Borrowings              
Commitment fee percentage         0.25%    
Credit Agreement | Revolving Credit Facility | Line of Credit | Maximum | Base Rate              
Borrowings              
Basis spread on interest rate (percent)         0.50%    
Credit Agreement | Revolving Credit Facility | Line of Credit | Maximum | Applicable Benchmark Rate              
Borrowings              
Basis spread on interest rate (percent)         1.50%    
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility              
Borrowings              
Line of credit, additional borrowing capacity         $ 500,000,000.0    
Fifth Amended and Restated Credit Agreement | Letter of Credit              
Borrowings              
Maximum borrowing capacity         50,000,000.0    
Line of Credit | Letter of Credit              
Borrowings              
Maximum borrowing capacity         100,000,000.0    
Remaining borrowing capacity         $ 51,200,000    
v3.25.4
Long-term Debt - Summary of Debt Instrument Redemption (Details)
12 Months Ended
Dec. 31, 2025
Aug. 20, 2025
Sep. 28, 2021
Feb. 28, 2020
Nov. 16, 2017
Borrowings          
Percentage of principal amount at which the entity may redeem some or all of the notes after specified date 100.00%        
5.55% Notes due 2040          
Borrowings          
Interest rate (as a percent) 5.55% 5.55%      
Long-term debt redemption price, basis spread on variable discount rate (as a percent) 25.00%        
5.25% Notes due 2035          
Borrowings          
Interest rate (as a percent) 5.25% 5.25%      
Long-term debt redemption price, basis spread on variable discount rate (as a percent) 20.00%        
2.20% Notes due 2032          
Borrowings          
Interest rate (as a percent) 2.20%   2.20%    
Long-term debt redemption price, basis spread on variable discount rate (as a percent) 20.00%        
2.75% Notes due 2030          
Borrowings          
Interest rate (as a percent) 2.75%     2.75%  
Long-term debt redemption price, basis spread on variable discount rate (as a percent) 20.00%        
3.75% Notes due 2027          
Borrowings          
Interest rate (as a percent) 3.75%       3.75%
Long-term debt redemption price, basis spread on variable discount rate (as a percent) 25.00%        
v3.25.4
Employee Benefit Plans - Summary of Weighted-Average Assumptions for Benefit Obligations (Details) - Defined Benefit Plans
Dec. 31, 2025
Dec. 31, 2024
Oct. 17, 2024
Dec. 31, 2023
Defined Benefit Plans        
Discount rate 5.20% 5.50% 5.00% 4.80%
Rate of compensation increase 3.80% 3.80%    
v3.25.4
Employee Benefit Plans - Summary of Weighted-Average Assumptions for Net Periodic Benefit Cost (Details) - Defined Benefit Plans
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans      
Discount rate 5.50% 4.80% 5.10%
Rate of compensation increase 3.80% 3.80% 3.80%
Expected long-term return on plan assets 6.70% 6.00% 6.00%
v3.25.4
Employee Benefit Plans - Narrative (Details)
3 Months Ended 12 Months Ended
Oct. 17, 2024
USD ($)
participant
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Defined Benefit Plans          
Mandatory minimum employer contributions to pension plans     $ 0 $ 0  
Maximum company match (as a percent)     4.00%    
Employer contributions for the savings account     $ 17,400,000 17,500,000 $ 19,900,000
Quoted Prices in Active Markets for Identical Assets (Level 1)          
Defined Benefit Plans          
Fair value of plan assets   $ 58,200,000 54,700,000 58,200,000  
Fixed income mutual funds | Quoted Prices in Active Markets for Identical Assets (Level 1)          
Defined Benefit Plans          
Fair value of plan assets   41,500,000 $ 37,800,000 41,500,000  
Target allocation percentage of investments     88.00%    
Equity mutual funds | Quoted Prices in Active Markets for Identical Assets (Level 1)          
Defined Benefit Plans          
Fair value of plan assets   5,600,000 $ 6,700,000 $ 5,600,000  
Target allocation percentage of investments     12.00%    
Defined Benefit Plans          
Defined Benefit Plans          
Weighted-average cash balance interest crediting rate (as a percent)     4.00% 4.00% 4.00%
Pension obligation   71,000,000.0 $ 68,200,000 $ 71,000,000.0 $ 134,300,000
Accumulated benefit obligation at end of year   70,800,000 67,100,000 70,800,000  
Fair value of plan assets   $ 58,200,000 54,700,000 58,200,000 114,800,000
Company contributions     1,500,000 2,100,000  
Settlement expense     $ 3,000,000.0 $ 21,100,000 $ 0
Discount rate 5.00% 5.50% 5.20% 5.50% 4.80%
Defined Benefit Plans | United States          
Defined Benefit Plans          
Defined benefit pension plan transferred $ 55,000,000        
Number of participants in benefit pension plan | participant 1,300        
Expected non-cash pension settlement loss   $ 21,100,000      
Executive Supplemental and Director Defined Benefit Pension Plans          
Defined Benefit Plans          
Pension obligation   17,700,000 $ 17,300,000 $ 17,700,000  
Accumulated benefit obligation at end of year   17,500,000 16,300,000 17,500,000  
Fair value of plan assets   $ 0 0 0  
Discretionary contributions     1,500,000 $ 1,600,000  
Expected employer contributions in next fiscal year     $ 1,300,000    
v3.25.4
Employee Benefit Plans - Defined Benefit Plans (Details) - Defined Benefit Plans - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Projected benefit obligation      
Beginning of year $ 71.0 $ 134.3  
Service cost 1.8 2.2 $ 2.1
Interest cost 3.4 5.5 6.3
Actuarial (gain) loss 1.8 (8.4)  
Benefits paid and transferred (9.8) (62.6)  
End of year 68.2 71.0 134.3
Fair value of plan assets      
Beginning of year 58.2 114.8  
Actual gain on plan assets 4.8 3.9  
Company contributions 1.5 2.1  
Benefits paid and transferred (9.8) (62.6)  
End of year 54.7 58.2 $ 114.8
Unfunded status end of year (13.5) (12.8)  
Accumulated benefit obligation at end of year $ 67.1 $ 70.8  
v3.25.4
Employee Benefit Plans - Summary of Net Asset (Liability) (Details) - Defined Benefit Plans - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plans    
Other long-term assets $ 3.8 $ 4.9
Other current liabilities (1.3) (1.6)
Other long-term liabilities (16.0) (16.1)
Net pension liabilities $ (13.5) $ (12.8)
v3.25.4
Employee Benefit Plans - Summary of Amounts Included in Accumulated Other Comprehensive Loss (Details) - Defined Benefit Plans - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plans    
Unrecognized actuarial losses (gross) $ 20.5 $ 22.9
Unrecognized actuarial losses (net of tax) 16.0 17.7
Unrecognized prior service costs (gross) 0.4 0.4
Unrecognized prior service costs (net of tax) $ 0.3 $ 0.3
v3.25.4
Employee Benefit Plans - Summary of Components of Net Periodic Benefit Cost (Details) - Defined Benefit Plans - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans      
Service cost $ 1.8 $ 2.2 $ 2.1
Interest cost 3.4 5.5 6.3
Expected return on plan assets (4.3) (7.0) (8.2)
Amortization of unrecognized net loss 0.7 1.8 1.3
Amortization of unrecognized prior service cost 0.1 0.1 0.1
Settlement expense 3.0 21.1 0.0
Net periodic benefit cost $ 4.7 $ 23.7 $ 1.6
v3.25.4
Employee Benefit Plans - Fair Value Measurements (Details) - Quoted Prices in Active Markets for Identical Assets (Level 1) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plans    
Fair value of plan assets $ 54.7 $ 58.2
Cash    
Defined Benefit Plans    
Fair value of plan assets 3.5 4.7
U.S. treasury bonds    
Defined Benefit Plans    
Fair value of plan assets 6.7 6.4
Equity mutual funds    
Defined Benefit Plans    
Fair value of plan assets 6.7 5.6
Fixed income mutual funds    
Defined Benefit Plans    
Fair value of plan assets $ 37.8 $ 41.5
v3.25.4
Employee Benefit Plans - Summary of Estimated Future Benefits (Details) - Defined Benefit Plans
$ in Millions
Dec. 31, 2025
USD ($)
Estimated future benefit payments  
2026 $ 9.5
2027 7.0
2028 6.6
2029 6.5
2030 5.9
2031-2035 $ 29.7
v3.25.4
Commitments and Contingencies - Narrative (Details)
12 Months Ended
Dec. 31, 2025
renewal_options
Lessee, Lease, Description [Line Items]  
Number of renewal options 1
Minimum  
Lessee, Lease, Description [Line Items]  
Remaining lease term 1 year
Lease renewal term 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Remaining lease term 16 years
Lease renewal term 10 years
v3.25.4
Commitment and Contingencies - Lease Costs (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]      
Operating lease cost $ 37.6 $ 26.6 $ 21.2
Variable lease cost 7.8 8.5 5.5
Short-term lease cost 10.8 8.1 6.9
Total lease cost $ 56.2 $ 43.2 $ 33.6
v3.25.4
Commitment and Contingencies - Lease Assets and Lease Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Other long-term assets $ 129.6 $ 121.6
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other long-term assets Other long-term assets
Other current liabilities $ 30.2 $ 25.7
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accrued Liabilities, Current Accrued Liabilities, Current
Other long-term liabilities $ 105.4 $ 100.5
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other long-term liabilities Other long-term liabilities
v3.25.4
Commitment and Contingencies - Maturity of Lease Liabilities (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Lease payments  
2026 $ 36.9
2027 27.7
2028 20.9
2029 18.7
2030 15.0
Thereafter 48.9
Total 168.1
Less: imputed interest (32.5)
Total lease liabilities $ 135.6
v3.25.4
Commitment and Contingencies - Lease Term and Discount Rate (Details)
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Weighted-average remaining lease term (in years) 7 years 7 months 6 days 8 years 4 months 24 days
Weighted-average discount rate 5.10% 5.10%
v3.25.4
Commitment and Contingencies - Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]      
Operating lease liabilities - cash paid $ 36.0 $ 23.4 $ 19.9
Operating lease liabilities - right-of-use assets obtained $ 26.4 $ 92.8 $ 19.2