NVENT ELECTRIC PLC, 10-Q filed on 10/31/2025
Quarterly Report
v3.25.3
Cover Page
 9 Months Ended
Sep. 30, 2025
shares
Cover [Abstract]  
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Sep. 30, 2025
Document Transition Report false
Entity File Number 001-38265
Entity Registrant Name nVent Electric plc
Entity Incorporation, State or Country Code L2
Entity Tax Identification Number 98-1391970
Entity Address, Address Line One The Mille, 1000 Great West Road, 8th Floor (East)
Entity Address, City or Town London
Entity Address, Postal Zip Code TW8 9DW
Entity Address, Country GB
Country Region 44
City Area Code 20
Local Phone Number 3966-0279
Title of 12(b) Security Ordinary Shares, nominal value $0.01 per share
Trading Symbol NVT
Security Exchange Name NYSE
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Large Accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 161,359,550
Entity Central Index Key 0001720635
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2025
Document Fiscal Period Focus Q3
Amendment Flag false
v3.25.3
Condensed Consolidated and Combined Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Net sales $ 1,054.0 $ 782.0 $ 2,826.4 $ 2,253.9
Cost of goods sold 659.3 470.9 1,746.2 1,344.3
Gross profit 394.7 311.1 1,080.2 909.6
Selling, general and administrative 207.8 161.8 570.0 450.7
Research and development 20.6 16.1 57.2 48.9
Operating income 166.3 133.2 453.0 410.0
Net interest expense 20.9 30.4 55.9 76.6
Other expense 1.2 1.2 3.4 3.3
Income from continuing operations before income taxes 144.2 101.6 393.7 330.1
Provision for income taxes 25.2 22.7 81.0 72.8
Net income from continuing operations 119.0 78.9 312.7 257.3
Income from discontinued operations, net of tax (Note 6) 2.2 26.1 278.7 63.8
Net income 121.2 105.0 591.4 321.1
Comprehensive income, net of tax        
Changes in cumulative translation adjustment (nine months ended September 30, 2025 includes $92.7 million reclassified to gain on sale included in Income from discontinued operations, net of tax) (0.7) 16.5 124.9 (6.9)
Changes in market value of derivative financial instruments, net of tax 1.9 (3.8) (13.8) 1.5
Comprehensive income $ 122.4 $ 117.7 $ 702.5 $ 315.7
Basic        
Continuing operations (in dollars per share) $ 0.74 $ 0.47 $ 1.92 $ 1.55
Discontinued operations (in dollars per share) 0.01 0.16 1.71 0.39
Basic earnings per ordinary share (in dollars per share) 0.75 0.63 3.63 1.94
Diluted        
Continuing operations (in dollars per share) 0.73 0.47 1.90 1.53
Discontinued operations (in dollars per share) 0.01 0.15 1.69 0.38
Diluted earnings per ordinary share (in dollars per share) $ 0.74 $ 0.62 $ 3.59 $ 1.91
Weighted average ordinary shares outstanding        
Basic (shares) 161.2 165.6 162.7 165.7
Diluted (shares) 163.6 168.1 164.8 168.5
Cash dividends paid per ordinary share (in usd per share) $ 0.20 $ 0.19 $ 0.60 $ 0.57
v3.25.3
Condensed Consolidated and Combined Statements of Income and Comprehensive Income (Unaudited) (Parenthetical)
$ in Millions
 9 Months Ended
Sep. 30, 2025
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Changes in cumulative translation adjustment $ 92.7
v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 126.9 $ 131.2
Accounts and notes receivable, net of allowances of $15.7 and $14.3, respectively 718.2 473.1
Inventories 455.2 360.3
Other current assets 230.7 123.9
Current assets held for sale 0.0 300.8
Total current assets 1,531.0 1,389.3
Property, plant and equipment, net 401.6 347.9
Other assets    
Goodwill 2,678.8 2,221.8
Intangibles, net 1,916.9 1,587.0
Other non-current assets 237.4 213.6
Non-current assets held for sale 0.0 975.3
Total other assets 4,833.1 4,997.7
Total assets 6,765.7 6,734.9
Current liabilities    
Current maturities of long-term debt and short-term borrowings 13.8 37.5
Accounts payable 340.7 280.1
Employee compensation and benefits 134.5 95.0
Other current liabilities 483.6 266.5
Current liabilities held for sale 0.0 122.5
Total current liabilities 972.6 801.6
Other liabilities    
Long-term debt 1,579.5 2,117.5
Pension and other post-retirement compensation and benefits 148.3 131.7
Deferred tax liabilities 229.8 242.7
Other non-current liabilities 206.5 157.9
Non-current liabilities held for sale 0.0 45.9
Total liabilities 3,136.7 3,497.3
Equity    
Ordinary shares $0.01 par value, 400.0 million authorized, 161.4 million and 165.0 million issued at September 30, 2025 and December 31, 2024, respectively 1.6 1.7
Additional paid-in capital 2,057.9 2,271.7
Retained earnings 1,602.8 1,108.6
Accumulated other comprehensive loss (33.3) (144.4)
Total equity 3,629.0 3,237.6
Total liabilities and equity $ 6,765.7 $ 6,734.9
v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Accounts and notes receivable, allowances $ 15.7 $ 14.3
Ordinary shares, par value (in dollars per share) $ 0.01 $ 0.01
Ordinary shares authorized (in shares) 400,000,000.0 400,000,000.0
Ordinary shares issued (in shares) 161,400,000 165,000,000.0
v3.25.3
Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 591.4 $ 321.1
Less: Income from discontinued operations, net of tax 278.7 63.8
Net income from continuing operations 312.7 257.3
Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities of continuing operations    
Depreciation 45.0 37.8
Amortization 106.0 66.7
Deferred income taxes (2.5) 0.3
Share-based compensation 30.8 20.1
Changes in assets and liabilities, net of effects of business acquisitions    
Accounts and notes receivable (138.4) (10.3)
Inventories (62.8) 0.3
Other current assets 36.4 (28.1)
Accounts payable 49.2 (11.7)
Employee compensation and benefits 27.7 (13.1)
Other current liabilities 19.8 2.6
Other non-current assets and liabilities 2.7 0.0
Net cash provided by (used for) operating activities of continuing operations 426.6 324.1
Net cash provided by (used for) operating activities of discontinued operations (163.8) 94.4
Net cash provided by (used for) operating activities 262.8 418.5
Investing activities    
Capital expenditures (56.6) (47.5)
Proceeds from sale of property and equipment 1.7 0.5
Acquisitions, net of cash acquired (974.9) (677.7)
Net cash provided by (used for) investing activities of continuing operations (1,029.8) (724.7)
Net cash provided by (used for) investing activities of discontinued operations 1,584.5 (5.6)
Net cash provided by (used for) investing activities 554.7 (730.3)
Financing activities    
Net receipts of revolving credit facility 30.4 0.0
Proceeds from long-term debt 275.0 500.0
Repayments of long-term debt (869.7) (22.5)
Debt issuance costs (1.9) (3.9)
Dividends paid (98.0) (95.3)
Shares issued to employees, net of shares withheld 7.7 (0.2)
Repurchases of ordinary shares (253.1) (100.0)
Net cash provided by (used for) financing activities (909.6) 278.1
Effect of exchange rate changes on cash and cash equivalents 29.1 (4.0)
Change in cash and cash equivalents (63.0) (37.7)
Cash and cash equivalents, beginning of period 131.2 179.6
Cash and cash equivalents within assets held for sale, beginning of period 58.7 5.5
Less: Cash and cash equivalents within assets held for sale, end of period 0.0 10.3
Cash and cash equivalents, end of period 126.9 137.1
Amortization of bridge financing debt issuance costs $ 0.0 $ 2.2
v3.25.3
Condensed Consolidated and Combined Statements of Changes in Equity (Unaudited) - USD ($)
shares in Millions, $ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Beginning balance (in shares) at Dec. 31, 2023   165.1      
Beginning balance at Dec. 31, 2023 $ 3,142.1 $ 1.7 $ 2,339.1 $ 905.3 $ (104.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 105.1     105.1  
Other Comprehensive Income (Loss), Net of Tax (8.6)       (8.6)
Dividends, Common Stock (32.1)     (32.1)  
Exercise of options, net of shares tendered for payment (in shares)   0.5      
Stock Issued During Period, Value, Stock Options Exercised 10.0   10.0    
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures 0.0        
Issuance of restricted shares, net of cancellations   0.6      
Shares surrendered by employees to pay taxes (in shares)   (0.2)      
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (10.8)   (10.8)    
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 6.6   6.6    
Ending balance (in shares) at Mar. 31, 2024   166.0      
Ending balance at Mar. 31, 2024 3,212.3 $ 1.7 2,344.9 978.3 (112.6)
Beginning balance (in shares) at Dec. 31, 2023   165.1      
Beginning balance at Dec. 31, 2023 $ 3,142.1 $ 1.7 2,339.1 905.3 (104.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Share repurchases (in shares) (1.5)        
Share repurchases $ (100.0)        
Ending balance (in shares) at Sep. 30, 2024   164.8      
Ending balance at Sep. 30, 2024 3,283.7 $ 1.7 2,260.3 1,131.1 (109.4)
Beginning balance (in shares) at Mar. 31, 2024   166.0      
Beginning balance at Mar. 31, 2024 3,212.3 $ 1.7 2,344.9 978.3 (112.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 111.0     111.0  
Other Comprehensive Income (Loss), Net of Tax (9.5)       (9.5)
Dividends, Common Stock (31.8)     (31.8)  
Exercise of options, net of shares tendered for payment (in shares)   0.2      
Stock Issued During Period, Value, Stock Options Exercised 0.3   0.3    
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (1.4)   (1.4)    
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 6.9   6.9    
Ending balance (in shares) at Jun. 30, 2024   166.2      
Ending balance at Jun. 30, 2024 3,287.8 $ 1.7 2,350.7 1,057.5 (122.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 105.0     105.0  
Other Comprehensive Income (Loss), Net of Tax 12.7       12.7
Dividends, Common Stock (31.4)     (31.4)  
Share repurchases (in shares)   (1.5)      
Share repurchases (100.0)   (100.0)    
Exercise of options, net of shares tendered for payment (in shares)   0.1      
Stock Issued During Period, Value, Stock Options Exercised 2.5   2.5    
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (0.7)   (0.7)    
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 7.8   7.8    
Ending balance (in shares) at Sep. 30, 2024   164.8      
Ending balance at Sep. 30, 2024 3,283.7 $ 1.7 2,260.3 1,131.1 (109.4)
Beginning balance (in shares) at Dec. 31, 2024   165.0      
Beginning balance at Dec. 31, 2024 3,237.6 $ 1.7 2,271.7 1,108.6 (144.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 360.7     360.7  
Other Comprehensive Income (Loss), Net of Tax 99.5       99.5
Dividends, Common Stock (33.3)     (33.3)  
Share repurchases (in shares)   (1.0)      
Share repurchases (53.1) $ (0.1) (53.0)    
Exercise of options, net of shares tendered for payment (in shares)   0.2      
Stock Issued During Period, Value, Stock Options Exercised 3.6   3.6    
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures 0.0        
Issuance of restricted shares, net of cancellations   0.5      
Shares surrendered by employees to pay taxes (in shares)   (0.1)      
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (8.3)   (8.3)    
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 9.4   9.4    
Ending balance (in shares) at Mar. 31, 2025   164.6      
Ending balance at Mar. 31, 2025 3,616.1 $ 1.6 2,223.4 1,436.0 (44.9)
Beginning balance (in shares) at Dec. 31, 2024   165.0      
Beginning balance at Dec. 31, 2024 $ 3,237.6 $ 1.7 2,271.7 1,108.6 (144.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Share repurchases (in shares) (4.8)        
Share repurchases $ (253.1)        
Ending balance (in shares) at Sep. 30, 2025   161.4      
Ending balance at Sep. 30, 2025 3,629.0 $ 1.6 2,057.9 1,602.8 (33.3)
Beginning balance (in shares) at Mar. 31, 2025   164.6      
Beginning balance at Mar. 31, 2025 3,616.1 $ 1.6 2,223.4 1,436.0 (44.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 109.5     109.5  
Other Comprehensive Income (Loss), Net of Tax 10.4       10.4
Dividends, Common Stock (31.5)     (31.5)  
Share repurchases (in shares)   (3.9)      
Share repurchases (200.0)   (200.0)    
Exercise of options, net of shares tendered for payment (in shares)   0.2      
Stock Issued During Period, Value, Stock Options Exercised 3.2   3.2    
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (0.6)   (0.6)    
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 11.6   11.6    
Ending balance (in shares) at Jun. 30, 2025   160.9      
Ending balance at Jun. 30, 2025 3,518.7 $ 1.6 2,037.6 1,514.0 (34.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 121.2     121.2  
Other Comprehensive Income (Loss), Net of Tax 1.2       1.2
Dividends, Common Stock (32.4)     (32.4)  
Exercise of options, net of shares tendered for payment (in shares)   0.5      
Stock Issued During Period, Value, Stock Options Exercised 10.3   10.3    
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (0.8) $ 0.0 (0.8)    
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 10.8   10.8    
Ending balance (in shares) at Sep. 30, 2025   161.4      
Ending balance at Sep. 30, 2025 $ 3,629.0 $ 1.6 $ 2,057.9 $ 1,602.8 $ (33.3)
v3.25.3
Supplemental Balance Sheet Information
 9 Months Ended
Sep. 30, 2025
Disclosure Supplemental Balance Sheet Information [Abstract]  
Supplemental Balance Sheet Information Supplemental Balance Sheet Information
In millionsSeptember 30,
2025		December 31,
2024
Inventories
Raw materials and supplies$216.6 $146.4 
Work-in-process26.4 15.8 
Finished goods212.2 198.1 
Total inventories$455.2 $360.3 
Other current assets
Contract assets$165.5 $54.9 
Prepaid expenses40.5 36.1 
Prepaid income taxes7.6 18.1 
Other current assets17.1 14.8 
Total other current assets$230.7 $123.9 
Property, plant and equipment, net
Land and land improvements$28.1 $21.5 
Buildings and leasehold improvements207.2 177.1 
Machinery and equipment620.7 565.6 
Construction in progress64.0 47.2 
Total property, plant and equipment920.0 811.4 
Accumulated depreciation and amortization518.4 463.5 
Total property, plant and equipment, net$401.6 $347.9 
Other non-current assets
Deferred compensation plan assets$18.0 $15.4 
Operating lease right-of-use assets130.9 107.2 
Deferred tax assets58.9 57.0 
Other non-current assets29.6 34.0 
Total other non-current assets$237.4 $213.6 
Other current liabilities
Dividends payable$32.8 $33.9 
Accrued rebates80.5 69.4 
Contract liabilities173.0 22.5 
Accrued taxes payable67.5 50.7 
Current operating lease liabilities29.4 22.4 
Accrued interest24.7 11.6 
Other current liabilities75.7 56.0 
Total other current liabilities$483.6 $266.5 
Other non-current liabilities
Income taxes payable$11.6 $11.7 
Deferred compensation plan liabilities18.0 15.4 
Foreign currency contract liabilities35.9 8.4 
Non-current operating lease liabilities107.9 90.7 
Other non-current liabilities33.1 31.7 
Total other non-current liabilities$206.5 $157.9 
v3.25.3
Basis of Presentation and Responsibility for Interim Financial Statements
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Responsibility for Interim Financial Statements Basis of Presentation and Responsibility for Interim Financial Statements
Business
nVent Electric plc ("nVent," "we," "us," "our" or the "Company") is a leading global provider of electrical connection and protection solutions. The Company is comprised of two reporting segments: Systems Protection and Electrical Connections.
The Company was incorporated in Ireland on May 30, 2017. Although our jurisdiction of organization is Ireland, we manage our affairs so that we are centrally managed and controlled in the United Kingdom (the "U.K.") and have tax residency in the U.K.
Basis of presentation
The accompanying unaudited Condensed Consolidated Financial Statements of nVent have been prepared following the requirements of the Securities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America ("GAAP") can be condensed or omitted.
We are responsible for the unaudited Condensed Consolidated Financial Statements included in this document. The financial statements include all normal recurring adjustments that are considered necessary for the fair presentation of our financial position and operating results. As these are condensed financial statements, one should also read our consolidated financial statements and notes thereto, which are included in our Annual Report on Form 10-K for the year ended December 31, 2024.
Revenues, expenses, cash flows, assets and liabilities can and do vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be indicative of those for a full year. We may experience changes in customer demand or constrained supply that could materially adversely impact our business, financial condition, results of operations and overall financial performance in future periods.
On July 31, 2024, we entered into a definitive agreement to sell our Thermal Management business to BCP VI Summit Holdings LP (as assignee of BCP Acquisitions LLC), an affiliate of funds managed by Brookfield Asset Management. As a result of the agreement, the Thermal Management business met the criteria set forth in Accounting Standards Codification ("ASC") 205-20 to be presented as a discontinued operation and the related assets and liabilities have been reclassified as held for sale for all periods presented. The Thermal Management business was previously disclosed as a stand-alone reporting segment. The Thermal Management business' results of operations and the related cash flows have been reclassified to Income from discontinued operations, net of tax in the Condensed Consolidated Statements of Income and cash flows from discontinued operations in the Condensed Consolidated Statements of Cash Flows, respectively, for all periods presented prior to the sale. We completed the sale of the Thermal Management business on January 30, 2025. For additional information regarding this transaction and its effect on our financial reporting, see Note 6 below.
v3.25.3
Revenue
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of revenue
We disaggregate our revenue from contracts with customers by geographic location and vertical, as we believe these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.
Geographic net sales information, based on geographic destination of the sale, was as follows:
Three months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Americas$574.2 $290.6 $864.8 
EMEA (1)
114.3 37.9 152.2 
Asia-Pacific27.1 9.9 37.0 
Total$715.6 $338.4 $1,054.0 
Nine months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Americas$1,448.6 $828.0 $2,276.6 
EMEA (1)
323.9 113.1 437.0 
Asia-Pacific83.3 29.5 112.8 
Total$1,855.8 $970.6 $2,826.4 
Three months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Americas$354.3 $258.9 $613.2 
EMEA (1)
95.3 35.8 131.1 
Asia-Pacific27.5 10.2 37.7 
Total$477.1 $304.9 $782.0 
Nine months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Americas$988.8 $756.0 $1,744.8 
EMEA (1)
292.0 110.4 402.4 
Asia-Pacific77.0 29.7 106.7 
Total$1,357.8 $896.1 $2,253.9 
(1) EMEA includes Europe, Middle East, India and Africa.
Vertical net sales information was as follows:
Three months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Infrastructure$373.3 $121.3 $494.6 
Industrial265.8 43.5 309.3 
Commercial & Residential69.0 163.1 232.1 
Energy7.5 10.5 18.0 
Total$715.6 $338.4 $1,054.0 
Nine months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Infrastructure$883.7 $325.2 $1,208.9 
Industrial744.9 128.2 873.1 
Commercial & Residential201.4 481.5 682.9 
Energy25.8 35.7 61.5 
Total$1,855.8 $970.6 $2,826.4 
Three months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Infrastructure$177.0 $88.6 $265.6 
Industrial231.9 39.6 271.5 
Commercial & Residential60.9 163.1 224.0 
Energy7.3 13.6 20.9 
Total$477.1 $304.9 $782.0 
Nine months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Infrastructure$452.0 $258.0 $710.0 
Industrial698.8 114.5 813.3 
Commercial & Residential185.8 484.5 670.3 
Energy21.2 39.1 60.3 
Total$1,357.8 $896.1 $2,253.9 
Contract balances
Contract assets and liabilities consisted of the following:
In millionsSeptember 30, 2025December 31, 2024$ Change% Change
Contract assets$165.5 $54.9 $110.6 201.5 %
Contract liabilities173.0 22.5 150.5 668.9 %
Net contract assets$(7.5)$32.4 $(39.9)(123.1)%
The $39.9 million decrease in net contract liabilities from December 31, 2024 to September 30, 2025 was primarily the result of the acquisition of the enclosures, switchgear and bus systems businesses of Avail Infrastructure Solutions (the "Electrical Products Group") and the timing of milestone invoicing. The majority of our contract liabilities at December 31, 2024 were recognized in revenue during the nine months ended September 30, 2025. There were no material impairment losses recognized on our contract assets for the three and nine months ended September 30, 2025 and 2024.
Remaining performance obligations
We have elected the practical expedient to disclose only the value of remaining performance obligations for contracts with an original expected length of one year or more. On September 30, 2025, we had $827.7 million of remaining performance obligations on contracts with an original expected duration of one year or more. We expect to recognize the majority of our remaining performance obligations on these contracts within the next eighteen months.
v3.25.3
Restructuring
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
During the nine months ended September 30, 2025 and the year ended December 31, 2024, we initiated and continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business.
Restructuring related costs included in Selling, general and administrative in the Condensed Consolidated Statements of Income and Comprehensive Income included costs for severance and other restructuring costs as follows:
 
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Severance and related costs$1.8 $1.9 $4.0 $3.7 
Other0.9 0.9 2.7 1.7 
Total restructuring costs$2.7 $2.8 $6.7 $5.4 
Other restructuring costs primarily consist of asset impairment and various contract termination costs.
Restructuring costs by reportable segment as well as enterprise and other were as follows:
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Systems Protection$0.4 $0.7 $1.0 $1.1 
Electrical Connections2.1 1.9 2.9 3.8 
Enterprise and other0.2 0.2 2.8 0.5 
Total$2.7 $2.8 $6.7 $5.4 
Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows:
Nine months ended
In millionsSeptember 30,
2025		September 30,
2024
Beginning balance$1.8 $1.2 
Costs incurred4.0 3.7 
Cash payments and other(3.0)(3.0)
Ending balance$2.8 $1.9 
v3.25.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and diluted earnings per share were calculated as follows:
Three months endedNine months ended
In millions, except per share dataSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Net income from continuing operations$119.0 $78.9 $312.7 $257.3 
Income from discontinued operations, net of tax2.2 26.1 278.7 63.8 
Net income $121.2 $105.0 $591.4 $321.1 
Weighted average ordinary shares outstanding
Basic161.2 165.6 162.7 165.7 
Dilutive impact of stock options, restricted stock units and performance share units2.4 2.5 2.1 2.8 
Diluted163.6 168.1 164.8 168.5 
Earnings per ordinary share
Basic
Continuing operations$0.74 $0.47 $1.92 $1.55 
Discontinued operations0.01 0.16 1.71 0.39 
Basic earnings per ordinary share$0.75 $0.63 $3.63 $1.94 
Diluted
Continuing operations$0.73 $0.47 $1.90 $1.53 
Discontinued operations0.01 0.15 1.69 0.38 
Diluted earnings per ordinary share$0.74 $0.62 $3.59 $1.91 
Anti-dilutive stock options excluded from the calculation of diluted earnings per share0.00.4 0.4 0.3 
v3.25.3
Acquisitions
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
Electrical Products Group Acquisition
On May 1, 2025, we acquired the Electrical Products Group for a purchase price of $978.7 million in cash. The Electrical Products Group is a leading provider of infrastructure solutions, designed to help ensure safe and reliable electrical operations primarily in the infrastructure vertical, including power utilities and data centers. We funded the purchase price for the acquisition with available cash on hand.
The purchase price has been preliminarily allocated based on the estimated fair value of assets acquired and liabilities assumed at the date of the Electrical Products Group acquisition. The preliminary purchase price allocation is subject to further refinement and may require significant adjustments to arrive at the final purchase price allocation. These changes will primarily relate to impacts associated with income taxes and other accruals. There can be no assurance that such finalization will not result in material changes from the preliminary purchase price allocation.
The following table summarizes our preliminary estimates of the fair values of the assets acquired and liabilities assumed in the Electrical Products Group acquisition previously reported as of June 30, 2025 and revised as of September 30, 2025:
In millionsAs Previously Reported As Revised
Accounts receivable$98.6 $98.0 
Inventories22.0 22.0 
Other current assets87.3 87.3 
Property, plant and equipment39.2 39.0 
Identifiable intangible assets429.8 433.8 
Goodwill440.9 440.9 
Other assets23.5 23.5 
Current liabilities(145.9)(145.8)
Other liabilities(20.0)(20.0)
Purchase price$975.4 $978.7 
The excess purchase price over tangible net assets and identified intangible assets acquired has been allocated to goodwill in the amount of $440.9 million, substantially all of which is expected to be deductible for income tax purposes. Goodwill recognized from the Electrical Products Group acquisition reflects the future economic benefit resulting from synergies of our combined operations.
Preliminary identifiable intangible assets acquired include $325.2 million of definite-lived customer relationships with estimated useful lives of 16 and 20 years, $32.8 million of definite-lived proprietary technologies with estimated useful lives of 8 years and $75.8 million of customer backlog with estimated useful lives of approximately 3 years. The fair values of proprietary technologies acquired in the acquisition were determined using a relief-from-royalty method, and the fair values of customer relationships and customer backlog acquired were determined using a multi-period excess earnings method. These methods utilize unobservable inputs that are significant to these fair value measurements and thus classified as Level 3 of the fair value hierarchy.
Electrical Products Group net sales and operating income for the three months ended September 30, 2025 were $127.2 million and $14.6 million, respectively. Electrical Products Group net sales and operating income for the period from the acquisition date to September 30, 2025 were $205.7 million and $26.0 million, respectively. Electrical Products Group operating income for the three and nine months ended September 30, 2025 includes $13.6 million and $21.3 million of identifiable intangible asset amortization expense, respectively.
Trachte Acquisition
On July 16, 2024, as part of our Systems Protection reporting segment, we completed the acquisition of Trachte, LLC ("Trachte") for approximately $687.5 million in cash. Trachte is a leading manufacturer of engineered control building solutions designed to protect critical infrastructure assets. The purchase price was funded primarily through borrowings under the 2024 Term Loan Facility and the Revolving Credit Facility (as described in Note 10 below).
The purchase price has been allocated based on the fair value of assets acquired and liabilities assumed at the date of the Trachte acquisition. The purchase price allocation was completed in the second quarter of 2025.
The following table summarizes the final fair values of the assets acquired and liabilities assumed in the Trachte acquisition:
In millions
Cash$13.6 
Accounts receivable45.4 
Inventories10.0 
Other current assets42.2 
Property, plant and equipment11.1 
Identifiable intangible assets331.5 
Goodwill368.9 
Other assets25.3 
Current liabilities(63.2)
Other liabilities(97.3)
Purchase price$687.5 
The excess purchase price over tangible net assets and identified intangible assets acquired has been allocated to goodwill in the amount of $368.9 million, substantially none of which is expected to be deductible for income tax purposes. Goodwill recognized from the Trachte acquisition reflects the future economic benefit resulting from synergies of our combined operations.
Identifiable intangible assets acquired include $55.4 million of indefinite-lived trade names, $206.6 million of definite-lived customer relationships with an estimated useful life of 17 years, $23.8 million of definite-lived proprietary technology with an estimated useful life of 8 years and $45.7 million of customer backlog with an estimated useful life of 2 years. The fair values of trade names and proprietary technology acquired in the acquisition were determined using a relief-from-royalty method, and the fair values of customer relationships and customer backlog acquired were determined using a multi-period excess earnings method. These methods utilize unobservable inputs that are significant to these fair value measurements and thus classified as Level 3 of the fair value hierarchy.
The following table presents unaudited pro forma financial information as if the acquisitions of Electrical Products Group and Trachte had occurred on January 1, 2024 and January 1, 2023, respectively:
Three months endedNine months ended
In millions, except per share dateSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Net sales$1,054.0 $882.1 $2,966.2 $2,626.0 
Net income from continuing operations119.8 84.6 326.0 253.0 
Net income122.0 110.7 604.7 316.8 
Earnings per ordinary share
Basic
Continuing operations$0.74 $0.51 $2.00 $1.53 
Basic earnings per ordinary share$0.75 $0.67 $3.71 $1.92 
Diluted
Continuing operations$0.73 $0.50 $1.98 $1.50 
Diluted earnings per ordinary share$0.74 $0.65 $3.67 $1.88 
The unaudited pro forma net income includes adjustments for the amortization of acquired intangible assets and interest expense on debt issued to finance the Trachte acquisition, as well as the related income tax impact.
The pro forma condensed consolidated financial information has been prepared for comparative purposes only and includes certain adjustments, as noted above. The adjustments are estimates based on currently available information and actual amounts
may differ materially from these estimates. They do not reflect the effect of costs or synergies that would have been expected to result from the integration of the Electrical Products Group and Trachte acquisitions. The pro forma information does not purport to be indicative of the results of operations that actually would have resulted had the Electrical Products Group and Trachte acquisitions occurred on January 1, 2024 and January 1, 2023, respectively.
v3.25.3
Discontinued Operations
 9 Months Ended
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations Discontinued Operations
On January 30, 2025, we completed the sale of the Thermal Management business to BCP VI Summit Holdings LP (as assignee of BCP Acquisitions LLC), an affiliate of funds managed by Brookfield Asset Management, for a purchase price of $1.7 billion in cash, subject to customary purchase price adjustments, resulting in cash proceeds, net of transaction costs and cash transferred, of $1,585.1 million. The results of the Thermal Management business have been presented as discontinued operations in our Condensed Consolidated Statements of Income and Comprehensive Income for all periods presented. The assets and liabilities of this business have been presented as held for sale in the Condensed Consolidated Balance Sheets for the year ended December 31, 2024. The Thermal Management business was previously disclosed as a stand-alone reporting segment.
The sale resulted in a pre-tax gain of $435.3 million, net of transaction costs of $32.8 million during the nine months ended September 30, 2025. The Provision for income taxes below of $158.0 million predominately relates to tax expense on the gain on sale during the nine months ended September 30, 2025.
Transaction costs of $12.6 million and $21.2 million related to the sale of Thermal Management were incurred during the three and nine months ended September 30, 2024, respectively and are recorded within Selling, general and administrative below.
The operating results of discontinued operations are summarized below:
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Net sales$— $157.1 $40.5 $440.1 
Cost of goods sold— 81.5 20.9 239.3 
Gross profit— 75.6 19.6 200.8 
Selling, general and administrative0.2 39.8 16.9 105.9 
Research and development— 4.6 1.3 13.5 
Operating income (loss)(0.2)31.2 1.4 81.4 
Other expense (income)— (0.1)— (0.1)
Income (loss) from discontinued operations before gain from sale and income taxes(0.2)31.3 1.4 81.5 
Loss (gain) from sale of discontinued operations before income taxes0.1 — (435.3)— 
Provision for (benefit from) income taxes(2.5)5.2 158.0 17.7 
Income from discontinued operations, net of tax$2.2 $26.1 $278.7 $63.8 
The major classes of assets and liabilities that were previously classified as held for sale were as follows:
In millionsDecember 31,
2024
Cash and cash equivalents$58.7 
Accounts receivable, net of allowances115.0 
Inventories80.8 
Other current assets46.3 
Current assets held for sale$300.8 
Property, plant and equipment, net$71.4 
Goodwill709.1 
Intangibles, net153.4 
Other non-current assets41.4 
Non-current assets held for sale$975.3 
Accounts payable$40.9 
Employee compensation and benefits20.6 
Other current liabilities61.0 
Current liabilities held for sale$122.5 
Pension and other post-retirement compensation and benefits$12.1 
Deferred tax liabilities12.0 
Other non-current liabilities21.8 
Non-current liabilities held for sale$45.9 
v3.25.3
Goodwill and Other Identifiable Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Identifiable Intangible Assets Goodwill and Other Identifiable Intangible Assets
The changes in the carrying amount of goodwill by reportable segment were as follows:
In millionsDecember 31,
2024		Acquisitions/
divestitures		Foreign currency
translation/other		September 30,
2025
Systems Protection$790.1 $399.6 $13.6 $1,203.3 
Electrical Connections1,431.7 43.8 — 1,475.5 
Total goodwill$2,221.8 $443.4 $13.6 $2,678.8 
Identifiable intangible assets consisted of the following:
 September 30, 2025December 31, 2024
In millionsCostAccumulated
amortization		NetCostAccumulated
amortization		Net
Definite-life intangibles
Customer relationships$1,903.4 $(527.2)$1,376.2 $1,571.7 $(458.7)$1,113.0 
Proprietary technology and patents111.5 (28.4)83.1 78.2 (19.5)58.7 
Other finite-lived intangible assets139.5 (49.5)90.0 63.7 (18.9)44.8 
Total definite-life intangibles2,154.4 (605.1)1,549.3 1,713.6 (497.1)1,216.5 
Indefinite-life intangibles
Trade names367.6 — 367.6 370.5 — 370.5 
Total intangibles$2,522.0 $(605.1)$1,916.9 $2,084.1 $(497.1)$1,587.0 
Identifiable intangible asset amortization expense was $41.9 million and $26.8 million for the three months ended September 30, 2025 and 2024, respectively, and $106.0 million and $66.7 million for the nine months ended September 30, 2025 and 2024, respectively.
Estimated future amortization expense for identifiable intangible assets during the remainder of 2025 and the next five years is as follows:
 Q4     
In millions202520262027202820292030
Estimated amortization expense$41.1 $153.8 $136.3 $111.0 $111.0 $107.8 
v3.25.3
Derivatives and Financial Instruments
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Financial Instruments Derivatives and Financial Instruments
Derivative financial instruments
We are exposed to market risk related to changes in foreign currency exchange rates. To manage the volatility related to this exposure, we periodically enter into a variety of derivative financial instruments. Our objective is to reduce, where it is deemed appropriate to do so, fluctuations in earnings and cash flows associated with changes in foreign currency exchange rates. The derivative contracts contain credit risk to the extent that our bank counterparties may be unable to meet the terms of the agreements. The amount of such credit risk is generally limited to the unrealized gains, if any, in such contracts. Such risk is minimized by limiting those counterparties to major financial institutions of high credit quality.
Foreign currency contracts
We conduct business in various locations throughout the world and are subject to market risk due to changes in the value of foreign currencies. We manage our economic and transaction exposure to certain market-based risks through the use of derivative instruments. These derivative instruments primarily consist of forward foreign currency contracts used to mitigate foreign currency exposure for certain foreign currency assets and liabilities. Our objective in holding these derivatives is to reduce the volatility in net earnings and cash flows associated with changes in foreign currency rates. The majority of our foreign currency contracts have an original maturity date of less than one year. These foreign currency contracts are not designated as hedging instruments; accordingly, changes in the fair value are recorded in current period earnings.
At September 30, 2025 and December 31, 2024, we had outstanding foreign currency derivative contracts with gross notional U.S. dollar equivalent amounts of $121.2 million and $73.8 million, respectively. The impact of these contracts on the Condensed Consolidated Statements of Income and Comprehensive Income was not material for any period presented.
Cross currency swaps
At September 30, 2025 and December 31, 2024, we had outstanding cross currency swap agreements with a combined notional amount of $360.3 million and $321.1 million, respectively. The agreements are accounted for as either cash flow hedges or fair value hedges, to hedge foreign currency fluctuations on certain intercompany debt, or as net investment hedges, to manage our exposure to fluctuations in the Euro-U.S. Dollar exchange rate. At September 30, 2025 and December 31, 2024, we had deferred foreign currency loss of $0.8 million and gain of $0.7 million, respectively, in Accumulated other comprehensive loss associated with our cross currency swap activity.
Fair value of financial instruments
The following methods were used to estimate the fair values of each class of financial instrument:
•short-term financial instruments (cash and cash equivalents, accounts and notes receivable, accounts and notes payable and variable-rate debt) — recorded amount approximates fair value because of the short maturity period;
•long-term fixed-rate debt, including current maturities — fair value is based on market quotes available for issuance of debt with similar terms, which are inputs that are classified as Level 2 in the valuation hierarchy defined by the accounting guidance;
•cross currency swap and foreign currency contract agreements — fair values are determined through the use of models that consider various assumptions, including time value, yield curves, as well as other relevant economic measures, which are observable inputs that are classified as Level 2 in the valuation hierarchy defined by the accounting guidance; and
•deferred compensation plan assets (mutual funds, common/collective trusts and cash equivalents for payment of certain non-qualified benefits for retired, terminated and active employees) — fair value of mutual funds and cash equivalents are based on quoted market prices in active markets that are classified as Level 1 in the valuation hierarchy defined by the accounting guidance; fair value of common/collective trusts are valued at net asset value ("NAV"), which is based on the fair value of underlying securities owned by the fund divided by the number of shares outstanding.
The recorded amounts and estimated fair values of total debt, excluding unamortized issuance costs and discounts, were as follows:
September 30,
2025		December 31,
2024
In millionsRecorded
Amount		Fair
Value		Recorded
Amount		Fair
Value
Variable rate debt$302.0 $302.0 $866.3 $866.3 
Fixed rate debt1,300.0 1,293.6 1,300.0 1,251.8 
Total debt$1,602.0 $1,595.6 $2,166.3 $2,118.1 
Financial assets and liabilities measured at fair value on a recurring basis were as follows:
Recurring fair value measurementsSeptember 30, 2025
In millionsLevel 1Level 2Level 3NAVTotal
Cross currency swap liabilities$— $(35.9)$— $— $(35.9)
Cross currency swap assets— 0.9 — — 0.9 
Foreign currency contract liabilities— (0.2)— — (0.2)
Foreign currency contract assets— 0.7 — — 0.7 
Deferred compensation plan assets11.4 — — 6.6 18.0 
Total recurring fair value measurements$11.4 $(34.5)$— $6.6 $(16.5)
Recurring fair value measurementsDecember 31, 2024
In millionsLevel 1Level 2Level 3NAVTotal
Cross currency swap liabilities$— $(8.4)$— $— $(8.4)
Cross currency swap assets— 6.8 — — 6.8 
Foreign currency contract liabilities— (0.3)— — (0.3)
Foreign currency contract assets— 0.3 — — 0.3 
Deferred compensation plan assets10.2 — — 5.2 15.4 
Total recurring fair value measurements$10.2 $(1.6)$— $5.2 $13.8 
v3.25.3
Debt
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt Debt
Debt and the average interest rates on debt outstanding were as follows:
In millions
Average interest
rate at
September 30, 2025
Maturity
Year		September 30,
2025		December 31,
2024
Revolving credit facility5.254%2030$30.4 $— 
2021 Term loan facilityN/A2026— 88.8 
2023 Term loan facilityN/A2028— 277.5 
2024 Term loan facilityN/A2026— 500.0 
2025 Term loan facility5.416%2030271.6 — 
Senior notes - fixed rate4.550%2028500.0 500.0 
Senior notes - fixed rate2.750%2031300.0 300.0 
Senior notes - fixed rate5.650%2033500.0 500.0 
Unamortized debt issuance costs and discountsN/AN/A(8.7)(11.3)
Total debt1,593.3 2,155.0 
Less: Current maturities and short-term borrowings
(13.8)(37.5)
Long-term debt$1,579.5 $2,117.5 
Senior notes
In March 2018, nVent Finance S.à r.l. (“nVent Finance” or "Subsidiary Issuer"), a 100-percent owned subsidiary of nVent, issued $500.0 million aggregate principal amount of 4.550% senior notes due 2028 (the "2028 Notes").
In November 2021, nVent Finance issued $300.0 million aggregate principal amount of 2.750% senior notes due 2031 (the "2031 Notes").
In May 2023, to finance the acquisition of ECM Industries, nVent Finance issued $500.0 million aggregate principal amount of 5.650% Senior Notes due 2033 (the "2033 Notes" and, collectively with the 2028 Notes and the 2031 Notes, the "Notes").
Interest on the 2028 Notes is payable semi-annually in arrears on April 15 and October 15 of each year, and interest on the 2031 Notes and 2033 Notes is payable semi-annually in arrears on May 15 and November 15 of each year.
The Notes are fully and unconditionally guaranteed as to payment by nVent (the "Parent Company Guarantor"). There are no subsidiaries that guarantee the Notes. The Parent Company Guarantor is a holding company that has no independent assets or operations unrelated to its investments in consolidated subsidiaries. The Subsidiary Issuer is a holding company that has no independent assets or operations unrelated to its investments in consolidated subsidiaries and the issuance of the Notes and other external debt. The Parent Company Guarantor’s principal source of cash flow, including cash flow to make payments on the Notes pursuant to the guarantees, is dividends from its subsidiaries. The Subsidiary Issuer’s principal source of cash flow is interest income from its subsidiaries. None of the subsidiaries of the Parent Company Guarantor or the Subsidiary Issuer is under any direct obligation to pay or otherwise fund amounts due on the Notes or the guarantees, whether in the form of dividends, distributions, loans or other payments. In addition, there may be statutory and regulatory limitations on the payment of dividends from certain subsidiaries of the Parent Company Guarantor or the Subsidiary Issuer. If such subsidiaries are unable to transfer funds to the Parent Company Guarantor or the Subsidiary Issuer and sufficient cash or liquidity is not otherwise available, the Parent Company Guarantor or the Subsidiary Issuer may not be able to make principal and interest payments on their outstanding debt, including the Notes or the guarantees.
The Notes constitute general unsecured senior obligations of the Subsidiary Issuer and rank equally in right of payment with all existing and future unsubordinated and unsecured indebtedness and liabilities of the Subsidiary Issuer. The guarantees of the Notes by the Parent Company Guarantor constitute general unsecured obligations of the Parent Company Guarantor and rank equally in right of payment with all existing and future unsubordinated and unsecured indebtedness and liabilities of the Subsidiary Issuer. Subject to certain qualifications and exceptions, the indenture pursuant to which the Notes were issued contains covenants that, among other things, restrict nVent’s, nVent Finance’s and certain subsidiaries’ ability to merge or consolidate with another person, create liens or engage in sale and lease-back transactions.
There are no significant restrictions on the ability of nVent to obtain funds from its subsidiaries by dividend or loan. None of the assets of nVent or its subsidiaries represents restricted net assets pursuant to the guidelines established by the Securities and Exchange Commission.
Senior credit facilities
In September 2021, nVent and its subsidiaries nVent Finance and Hoffman Schroff Holdings, Inc. entered into an amended and restated credit agreement (the "2021 Credit Agreement") with a syndicate of banks providing for a five-year $300.0 million senior unsecured term loan facility (the "2021 Term Loan Facility") and a five-year $600.0 million senior unsecured revolving credit facility. In 2025, nVent repaid the remainder of the borrowings on the 2021 Term Loan Facility.
In June 2025, nVent and its subsidiaries nVent Finance and Hoffman Schroff Holdings, Inc. entered into an amended and restated credit agreement (the "Credit Agreement") with a syndicate of banks providing for a five-year $275.0 million senior unsecured term loan facility (the "2025 Term Loan Facility") and a five-year $600.0 million senior unsecured revolving credit facility (the "Revolving Credit Facility" and, together with the 2025 Term Loan Facility, the "Senior Credit Facilities"). The Credit Agreement amended and restated in its entirety the 2021 Credit Agreement. Borrowings under the Revolving Credit Facility are permitted from time to time during the full five-year term of the Revolving Credit Facility. nVent Finance has the option to request to increase the Revolving Credit Facility in an aggregate amount of up to $300.0 million, subject to customary conditions, including the commitment of the participating lenders.
As of September 30, 2025, the borrowing capacity under the Revolving Credit Facility was $569.6 million.
Borrowings under the Senior Credit Facilities bear interest at a rate equal to an adjusted base rate, the Term Secured Overnight Financing Rate ("SOFR"), Euro Interbank Offer Rate (“EURIBOR”), Sterling Overnight Index Average (“SONIA”) or, solely
for swingline loans denominated in Euros, the Euro Short Term Rate ("ESTR"), plus, in each case, an applicable margin. The applicable margin will be based on, at nVent Finance’s election, nVent's net leverage ratio or public debt rating.
In April 2023, nVent and nVent Finance entered into a loan agreement providing for another unsecured term loan facility of $300.0 million for five years (the "2023 Term Loan Facility"), which was used to fund the acquisition of ECM Industries. In 2025, nVent repaid the remainder of the borrowings on the 2023 Term Loan Facility.
In June 2024, nVent and nVent Finance entered into a loan agreement providing for an additional senior unsecured term loan facility of $500.0 million for two years (the "2024 Term Loan Facility"). In July 2024, nVent partially financed the acquisition of Trachte using the 2024 Term Loan Facility. In 2025, nVent repaid the remainder of the borrowings on the 2024 Term Loan Facility.
Our debt agreements contain certain financial covenants, the most restrictive of which are in the Senior Credit Facilities, including that we may not permit (i) the ratio of our consolidated debt (net of our consolidated unrestricted cash in excess of $5.0 million but not to exceed $250.0 million) to our consolidated net income (excluding, among other things, non-cash gains and losses) before interest, taxes, depreciation, amortization and non-cash share-based compensation expense ("EBITDA") on the last day of any period of four consecutive fiscal quarters (each a "testing period") to exceed 3.75 to 1.00 (or, at nVent Finance's election and subject to certain conditions, 4.25 to 1.00 for four testing periods in connection with certain material acquisitions) and (ii) the ratio of our EBITDA to our consolidated interest expense for the same period to be less than 3.00 to 1.00. In addition, subject to certain qualifications and exceptions, the Senior Credit Facilities also contain covenants that, among other things, restrict our ability to create liens, merge or consolidate with another person, make acquisitions and incur subsidiary debt. As of September 30, 2025, we were in compliance with all financial covenants in our debt agreements, and there is no material uncertainty about our ongoing ability to meet those covenants.
Debt outstanding at September 30, 2025, excluding unamortized issuance costs and discounts, matures on a calendar year basis as follows:
 Q4       
In millions202520262027202820292030ThereafterTotal
Contractual debt obligation maturities$3.4 $13.8 $13.8 $517.2 $20.6 $233.2 $800.0 $1,602.0 
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The effective income tax rate for the nine months ended September 30, 2025 was 20.6% compared to 22.1% for the nine months ended September 30, 2024. The liability for uncertain tax positions was $11.6 million and $11.7 million at September 30, 2025 and December 31, 2024, respectively. We record penalties and interest related to unrecognized tax benefits in Provision for income taxes and Net interest expense, respectively, on the Condensed Consolidated Statements of Income and Comprehensive Income, which is consistent with our past practices.
v3.25.3
Shareholders' Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Share repurchases
On May 14, 2021, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $300.0 million (the "2021 Authorization"). The 2021 Authorization expired on July 22, 2024.
On May 17, 2024, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $500.0 million (the "2024 Authorization"). The 2024 Authorization began on July 23, 2024, following the expiration of the 2021 Authorization, and expires on July 22, 2027.
During the nine months ended September 30, 2025, we repurchased 4.8 million of our ordinary shares for $253.1 million under the 2024 Authorization. During the nine months ended September 30, 2024, we repurchased 1.5 million of our ordinary shares for $100.0 million under the 2024 Authorization and we did not repurchase ordinary shares under the 2021 Authorization.
As of September 30, 2025, we had $146.9 million available for share repurchases under the 2024 Authorization.
Dividends payable
On September 22, 2025, the Board of Directors declared a quarterly cash dividend of $0.20 per ordinary share payable on November 7, 2025, to shareholders of record at the close of business on October 17, 2025. The balance of dividends payable included in Other current liabilities on our Condensed Consolidated Balance Sheets was $32.8 million and $33.9 million at September 30, 2025 and December 31, 2024, respectively.
v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Our continuing operations are comprised of two reporting segments: Systems Protection and Electrical Connections. In the first quarter of 2025, we renamed our Enclosures segment to Systems Protection, and our Electrical & Fastening Solutions segment to Electrical Connections.
"Enterprise and other" activity primarily consists of enterprise expenses not allocated to the segments, including certain executive office, board of directors, and centrally-managed enterprise functional or shared service costs related to finance, human resources, legal, supply chain, digital and corporate development. These activities do not meet the criteria for a stand-alone reporting segment under ASC 280.
The accounting policies of our reporting segments are the same as those described in the summary of significant accounting policies in our Annual Report on Form 10-K for the year ended December 31, 2024. The Company's primary measure of segment profitability is reportable segment income. Reportable segment income represents operating income, which includes certain corporate overhead allocations, and is exclusive of intangible amortization, acquisition related costs, costs of restructuring activities, "mark-to-market" gain/loss for pension and other post-retirement plans, impairments and other unusual non-operating items.
nVent's chief operating decision maker ("CODM") is our chief executive officer. This presentation is consistent with how the CODM evaluates the results of operations and makes strategic decisions about the business. The CODM uses reportable segment income for purposes of evaluating performance, allocating resources, setting incentive compensation targets, as well as internal forecasting of future period financial results. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented.
Net sales and significant expense categories to arrive at our measure of segment profitability by reportable segment were as follows:
Three months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Net sales$715.6 $338.4 $1,054.0 
Cost of goods sold(1)
470.5 184.9 
Selling, general and administrative(1)
85.7 46.3 
Research and development(1)
13.2 5.6 
Reportable segment income$146.2 $101.6 $247.8 
Nine months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Net sales$1,855.8 $970.6 $2,826.4 
Cost of goods sold(1)
1,196.9 536.5 
Selling, general and administrative(1)
236.0 136.1 
Research and development(1)
35.4 16.4 
Reportable segment income$387.5 $281.6 $669.1 
Three months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Net sales$477.1 $304.9 $782.0 
Cost of goods sold(1)
302.7 164.2 
Selling, general and administrative(1)
60.8 42.5 
Research and development(1)
9.2 5.6 
Reportable segment income$104.4 $92.6 $197.0 
Nine months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Net sales$1,357.8 $896.1 $2,253.9 
Cost of goods sold(1)
853.3 479.1 
Selling, general and administrative(1)
174.6 128.6 
Research and development(1)
26.9 18.1 
Reportable segment income$303.0 $270.3 $573.3 
(1)    These costs exclude certain expenses reported in the Condensed Consolidated Statements of Income and Comprehensive Income that are reflected in 'Enterprise and other', as well as the costs that are excluded from reportable segment income as discussed above.
The following table presents a reconciliation of reportable segment income to consolidated income before income taxes:
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Systems Protection$146.2 $104.4 $387.5 $303.0 
Electrical Connections101.6 92.6 281.6 270.3 
Reportable segment income247.8 197.0 669.1 573.3 
Enterprise and other(34.5)(28.6)(93.6)(79.6)
Restructuring and other(2.7)(2.8)(6.7)(5.9)
Intangible amortization(41.9)(26.8)(106.0)(66.7)
Acquisition transaction and integration costs(2.4)(5.6)(9.8)(11.1)
Net interest expense(20.9)(30.4)(55.9)(76.6)
Other expense(1.2)(1.2)(3.4)(3.3)
Income before income taxes$144.2 $101.6 $393.7 $330.1 
v3.25.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Warranties and guarantees
In connection with the disposition of our businesses or product lines, we may agree to indemnify purchasers for various potential liabilities relating to the sold business, such as pre-closing tax, product liability, warranty, environmental, or other obligations. The subject matter, amounts and duration of any such indemnification obligations vary for each type of liability indemnified and may vary widely from transaction to transaction.
Generally, the maximum obligation under such indemnifications is not explicitly stated and as a result, the overall amount of these obligations cannot be reasonably estimated. Historically, we have not made significant payments for these indemnifications. We believe that if we were to incur a loss in any of these matters, the loss would not have a material effect on our financial position, results of operations or cash flows.
We recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee.
We provide service and warranty policies on our products. Liability under service and warranty policies is based upon a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience warrant. Our liability for service and product warranties as of September 30, 2025 and December 31, 2024 was not material.
Stand-by letters of credit, bank guarantees and bonds
In the ordinary course of business, we are required to commit to bonds, letters of credit and bank guarantees that require payments to our customers for any non-performance. The outstanding face value of these instruments fluctuates with the value of our projects in process and in our backlog. In addition, we issue financial stand-by letters of credit primarily to secure our performance to third parties under self-insurance programs.
As of September 30, 2025 and December 31, 2024, the outstanding value of bonds, letters of credit and bank guarantees totaled $58.8 million and $10.7 million, respectively.
v3.25.3
Share-Based Compensation
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
Total share-based compensation expense for the three and nine months ended September 30, 2025 and 2024, was as follows:
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Restricted stock units$5.1 $3.8 $14.4 $10.3 
Performance share units3.5 2.2 10.3 5.8 
Stock options2.1 1.4 6.1 4.0 
Total$10.7 $7.4 $30.8 $20.1 
In the first quarter of 2025, we issued our annual share-based compensation grants under the 2018 Omnibus Incentive Plan to eligible employees. The total number of awards issued was approximately 0.8 million, of which 0.3 million were restricted stock units ("RSUs"), 0.2 million were performance share units ("PSUs") and 0.3 million were stock options. The weighted-average grant date fair value of the RSUs, PSUs and stock options issued was $56.35, $59.17 and $22.05, respectively.
We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends, and using the following assumptions:
2025 Annual Grant
Risk-free interest rate4.33 %
Expected dividend yield1.16 %
Expected share price volatility37.6 %
Expected term (years)6.1
These estimates require us to make assumptions based on historical results, observance of trends in our share price, changes in option exercise behaviors, future expectations and other relevant factors. If other assumptions had been used, share-based compensation expense, as calculated and recorded under the accounting guidance, could have been affected.
We based the expected life assumption on historical experience as well as the terms and vesting periods of the options granted. For purposes of determining expected volatility, we considered historical volatilities of peer companies over a period approximately equal to the expected option term. The risk-free rate for periods that coincide with the expected life of the options is based on the U.S. Treasury Department yield curve in effect at the time of grant.
v3.25.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Pay vs Performance Disclosure        
Net Income (Loss) $ 121.2 $ 105.0 $ 591.4 $ 321.1
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 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
v3.25.3
Revenue (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue by Category
Geographic net sales information, based on geographic destination of the sale, was as follows:
Three months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Americas$574.2 $290.6 $864.8 
EMEA (1)
114.3 37.9 152.2 
Asia-Pacific27.1 9.9 37.0 
Total$715.6 $338.4 $1,054.0 
Nine months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Americas$1,448.6 $828.0 $2,276.6 
EMEA (1)
323.9 113.1 437.0 
Asia-Pacific83.3 29.5 112.8 
Total$1,855.8 $970.6 $2,826.4 
Three months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Americas$354.3 $258.9 $613.2 
EMEA (1)
95.3 35.8 131.1 
Asia-Pacific27.5 10.2 37.7 
Total$477.1 $304.9 $782.0 
Nine months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Americas$988.8 $756.0 $1,744.8 
EMEA (1)
292.0 110.4 402.4 
Asia-Pacific77.0 29.7 106.7 
Total$1,357.8 $896.1 $2,253.9 
(1) EMEA includes Europe, Middle East, India and Africa.
Vertical net sales information was as follows:
Three months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Infrastructure$373.3 $121.3 $494.6 
Industrial265.8 43.5 309.3 
Commercial & Residential69.0 163.1 232.1 
Energy7.5 10.5 18.0 
Total$715.6 $338.4 $1,054.0 
Nine months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Infrastructure$883.7 $325.2 $1,208.9 
Industrial744.9 128.2 873.1 
Commercial & Residential201.4 481.5 682.9 
Energy25.8 35.7 61.5 
Total$1,855.8 $970.6 $2,826.4 
Three months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Infrastructure$177.0 $88.6 $265.6 
Industrial231.9 39.6 271.5 
Commercial & Residential60.9 163.1 224.0 
Energy7.3 13.6 20.9 
Total$477.1 $304.9 $782.0 
Nine months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Infrastructure$452.0 $258.0 $710.0 
Industrial698.8 114.5 813.3 
Commercial & Residential185.8 484.5 670.3 
Energy21.2 39.1 60.3 
Total$1,357.8 $896.1 $2,253.9 
Contract assets and liabilities
Contract assets and liabilities consisted of the following:
In millionsSeptember 30, 2025December 31, 2024$ Change% Change
Contract assets$165.5 $54.9 $110.6 201.5 %
Contract liabilities173.0 22.5 150.5 668.9 %
Net contract assets$(7.5)$32.4 $(39.9)(123.1)%
v3.25.3
Restructuring (Tables)
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Related Costs
Restructuring related costs included in Selling, general and administrative in the Condensed Consolidated Statements of Income and Comprehensive Income included costs for severance and other restructuring costs as follows:
 
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Severance and related costs$1.8 $1.9 $4.0 $3.7 
Other0.9 0.9 2.7 1.7 
Total restructuring costs$2.7 $2.8 $6.7 $5.4 
Restructuring Costs By Segment
Restructuring costs by reportable segment as well as enterprise and other were as follows:
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Systems Protection$0.4 $0.7 $1.0 $1.1 
Electrical Connections2.1 1.9 2.9 3.8 
Enterprise and other0.2 0.2 2.8 0.5 
Total$2.7 $2.8 $6.7 $5.4 
Restructuring Accrual Activity Recorded on Consolidated Balance Sheets
Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows:
Nine months ended
In millionsSeptember 30,
2025		September 30,
2024
Beginning balance$1.8 $1.2 
Costs incurred4.0 3.7 
Cash payments and other(3.0)(3.0)
Ending balance$2.8 $1.9 
v3.25.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Basic and Diluted Earnings Per Share
Basic and diluted earnings per share were calculated as follows:
Three months endedNine months ended
In millions, except per share dataSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Net income from continuing operations$119.0 $78.9 $312.7 $257.3 
Income from discontinued operations, net of tax2.2 26.1 278.7 63.8 
Net income $121.2 $105.0 $591.4 $321.1 
Weighted average ordinary shares outstanding
Basic161.2 165.6 162.7 165.7 
Dilutive impact of stock options, restricted stock units and performance share units2.4 2.5 2.1 2.8 
Diluted163.6 168.1 164.8 168.5 
Earnings per ordinary share
Basic
Continuing operations$0.74 $0.47 $1.92 $1.55 
Discontinued operations0.01 0.16 1.71 0.39 
Basic earnings per ordinary share$0.75 $0.63 $3.63 $1.94 
Diluted
Continuing operations$0.73 $0.47 $1.90 $1.53 
Discontinued operations0.01 0.15 1.69 0.38 
Diluted earnings per ordinary share$0.74 $0.62 $3.59 $1.91 
Anti-dilutive stock options excluded from the calculation of diluted earnings per share0.00.4 0.4 0.3 
v3.25.3
Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes our preliminary estimates of the fair values of the assets acquired and liabilities assumed in the Electrical Products Group acquisition previously reported as of June 30, 2025 and revised as of September 30, 2025:
In millionsAs Previously Reported As Revised
Accounts receivable$98.6 $98.0 
Inventories22.0 22.0 
Other current assets87.3 87.3 
Property, plant and equipment39.2 39.0 
Identifiable intangible assets429.8 433.8 
Goodwill440.9 440.9 
Other assets23.5 23.5 
Current liabilities(145.9)(145.8)
Other liabilities(20.0)(20.0)
Purchase price$975.4 $978.7 
The following table summarizes the final fair values of the assets acquired and liabilities assumed in the Trachte acquisition:
In millions
Cash$13.6 
Accounts receivable45.4 
Inventories10.0 
Other current assets42.2 
Property, plant and equipment11.1 
Identifiable intangible assets331.5 
Goodwill368.9 
Other assets25.3 
Current liabilities(63.2)
Other liabilities(97.3)
Purchase price$687.5 
Business Acquisition, Pro Forma Information
The following table presents unaudited pro forma financial information as if the acquisitions of Electrical Products Group and Trachte had occurred on January 1, 2024 and January 1, 2023, respectively:
Three months endedNine months ended
In millions, except per share dateSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Net sales$1,054.0 $882.1 $2,966.2 $2,626.0 
Net income from continuing operations119.8 84.6 326.0 253.0 
Net income122.0 110.7 604.7 316.8 
Earnings per ordinary share
Basic
Continuing operations$0.74 $0.51 $2.00 $1.53 
Basic earnings per ordinary share$0.75 $0.67 $3.71 $1.92 
Diluted
Continuing operations$0.73 $0.50 $1.98 $1.50 
Diluted earnings per ordinary share$0.74 $0.65 $3.67 $1.88 
v3.25.3
Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations
The operating results of discontinued operations are summarized below:
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Net sales$— $157.1 $40.5 $440.1 
Cost of goods sold— 81.5 20.9 239.3 
Gross profit— 75.6 19.6 200.8 
Selling, general and administrative0.2 39.8 16.9 105.9 
Research and development— 4.6 1.3 13.5 
Operating income (loss)(0.2)31.2 1.4 81.4 
Other expense (income)— (0.1)— (0.1)
Income (loss) from discontinued operations before gain from sale and income taxes(0.2)31.3 1.4 81.5 
Loss (gain) from sale of discontinued operations before income taxes0.1 — (435.3)— 
Provision for (benefit from) income taxes(2.5)5.2 158.0 17.7 
Income from discontinued operations, net of tax$2.2 $26.1 $278.7 $63.8 
The major classes of assets and liabilities that were previously classified as held for sale were as follows:
In millionsDecember 31,
2024
Cash and cash equivalents$58.7 
Accounts receivable, net of allowances115.0 
Inventories80.8 
Other current assets46.3 
Current assets held for sale$300.8 
Property, plant and equipment, net$71.4 
Goodwill709.1 
Intangibles, net153.4 
Other non-current assets41.4 
Non-current assets held for sale$975.3 
Accounts payable$40.9 
Employee compensation and benefits20.6 
Other current liabilities61.0 
Current liabilities held for sale$122.5 
Pension and other post-retirement compensation and benefits$12.1 
Deferred tax liabilities12.0 
Other non-current liabilities21.8 
Non-current liabilities held for sale$45.9 
v3.25.3
Goodwill and Other Identifiable Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Carrying Amount of Goodwill by Segment
The changes in the carrying amount of goodwill by reportable segment were as follows:
In millionsDecember 31,
2024		Acquisitions/
divestitures		Foreign currency
translation/other		September 30,
2025
Systems Protection$790.1 $399.6 $13.6 $1,203.3 
Electrical Connections1,431.7 43.8 — 1,475.5 
Total goodwill$2,221.8 $443.4 $13.6 $2,678.8 
Schedule of Finite-Lived Intangible Assets
Identifiable intangible assets consisted of the following:
 September 30, 2025December 31, 2024
In millionsCostAccumulated
amortization		NetCostAccumulated
amortization		Net
Definite-life intangibles
Customer relationships$1,903.4 $(527.2)$1,376.2 $1,571.7 $(458.7)$1,113.0 
Proprietary technology and patents111.5 (28.4)83.1 78.2 (19.5)58.7 
Other finite-lived intangible assets139.5 (49.5)90.0 63.7 (18.9)44.8 
Total definite-life intangibles2,154.4 (605.1)1,549.3 1,713.6 (497.1)1,216.5 
Indefinite-life intangibles
Trade names367.6 — 367.6 370.5 — 370.5 
Total intangibles$2,522.0 $(605.1)$1,916.9 $2,084.1 $(497.1)$1,587.0 
Schedule of Indefinite-Lived Intangible Assets
Identifiable intangible assets consisted of the following:
 September 30, 2025December 31, 2024
In millionsCostAccumulated
amortization		NetCostAccumulated
amortization		Net
Definite-life intangibles
Customer relationships$1,903.4 $(527.2)$1,376.2 $1,571.7 $(458.7)$1,113.0 
Proprietary technology and patents111.5 (28.4)83.1 78.2 (19.5)58.7 
Other finite-lived intangible assets139.5 (49.5)90.0 63.7 (18.9)44.8 
Total definite-life intangibles2,154.4 (605.1)1,549.3 1,713.6 (497.1)1,216.5 
Indefinite-life intangibles
Trade names367.6 — 367.6 370.5 — 370.5 
Total intangibles$2,522.0 $(605.1)$1,916.9 $2,084.1 $(497.1)$1,587.0 
Estimated Future Amortization Expense for Identifiable Intangible Assets
Estimated future amortization expense for identifiable intangible assets during the remainder of 2025 and the next five years is as follows:
 Q4     
In millions202520262027202820292030
Estimated amortization expense$41.1 $153.8 $136.3 $111.0 $111.0 $107.8 
v3.25.3
Supplemental Balance Sheet Information (Tables)
 9 Months Ended
Sep. 30, 2025
Disclosure Supplemental Balance Sheet Information [Abstract]  
Supplemental Balance Sheet Information
In millionsSeptember 30,
2025		December 31,
2024
Inventories
Raw materials and supplies$216.6 $146.4 
Work-in-process26.4 15.8 
Finished goods212.2 198.1 
Total inventories$455.2 $360.3 
Other current assets
Contract assets$165.5 $54.9 
Prepaid expenses40.5 36.1 
Prepaid income taxes7.6 18.1 
Other current assets17.1 14.8 
Total other current assets$230.7 $123.9 
Property, plant and equipment, net
Land and land improvements$28.1 $21.5 
Buildings and leasehold improvements207.2 177.1 
Machinery and equipment620.7 565.6 
Construction in progress64.0 47.2 
Total property, plant and equipment920.0 811.4 
Accumulated depreciation and amortization518.4 463.5 
Total property, plant and equipment, net$401.6 $347.9 
Other non-current assets
Deferred compensation plan assets$18.0 $15.4 
Operating lease right-of-use assets130.9 107.2 
Deferred tax assets58.9 57.0 
Other non-current assets29.6 34.0 
Total other non-current assets$237.4 $213.6 
Other current liabilities
Dividends payable$32.8 $33.9 
Accrued rebates80.5 69.4 
Contract liabilities173.0 22.5 
Accrued taxes payable67.5 50.7 
Current operating lease liabilities29.4 22.4 
Accrued interest24.7 11.6 
Other current liabilities75.7 56.0 
Total other current liabilities$483.6 $266.5 
Other non-current liabilities
Income taxes payable$11.6 $11.7 
Deferred compensation plan liabilities18.0 15.4 
Foreign currency contract liabilities35.9 8.4 
Non-current operating lease liabilities107.9 90.7 
Other non-current liabilities33.1 31.7 
Total other non-current liabilities$206.5 $157.9 
v3.25.3
Derivatives and Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments
The recorded amounts and estimated fair values of total debt, excluding unamortized issuance costs and discounts, were as follows:
September 30,
2025		December 31,
2024
In millionsRecorded
Amount		Fair
Value		Recorded
Amount		Fair
Value
Variable rate debt$302.0 $302.0 $866.3 $866.3 
Fixed rate debt1,300.0 1,293.6 1,300.0 1,251.8 
Total debt$1,602.0 $1,595.6 $2,166.3 $2,118.1 
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis
Financial assets and liabilities measured at fair value on a recurring basis were as follows:
Recurring fair value measurementsSeptember 30, 2025
In millionsLevel 1Level 2Level 3NAVTotal
Cross currency swap liabilities$— $(35.9)$— $— $(35.9)
Cross currency swap assets— 0.9 — — 0.9 
Foreign currency contract liabilities— (0.2)— — (0.2)
Foreign currency contract assets— 0.7 — — 0.7 
Deferred compensation plan assets11.4 — — 6.6 18.0 
Total recurring fair value measurements$11.4 $(34.5)$— $6.6 $(16.5)
Recurring fair value measurementsDecember 31, 2024
In millionsLevel 1Level 2Level 3NAVTotal
Cross currency swap liabilities$— $(8.4)$— $— $(8.4)
Cross currency swap assets— 6.8 — — 6.8 
Foreign currency contract liabilities— (0.3)— — (0.3)
Foreign currency contract assets— 0.3 — — 0.3 
Deferred compensation plan assets10.2 — — 5.2 15.4 
Total recurring fair value measurements$10.2 $(1.6)$— $5.2 $13.8 
v3.25.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt and Average Interest Rates on Debt Outstanding
Debt and the average interest rates on debt outstanding were as follows:
In millions
Average interest
rate at
September 30, 2025
Maturity
Year		September 30,
2025		December 31,
2024
Revolving credit facility5.254%2030$30.4 $— 
2021 Term loan facilityN/A2026— 88.8 
2023 Term loan facilityN/A2028— 277.5 
2024 Term loan facilityN/A2026— 500.0 
2025 Term loan facility5.416%2030271.6 — 
Senior notes - fixed rate4.550%2028500.0 500.0 
Senior notes - fixed rate2.750%2031300.0 300.0 
Senior notes - fixed rate5.650%2033500.0 500.0 
Unamortized debt issuance costs and discountsN/AN/A(8.7)(11.3)
Total debt1,593.3 2,155.0 
Less: Current maturities and short-term borrowings
(13.8)(37.5)
Long-term debt$1,579.5 $2,117.5 
Debt Outstanding Matures on Calendar Year Basis
Debt outstanding at September 30, 2025, excluding unamortized issuance costs and discounts, matures on a calendar year basis as follows:
 Q4       
In millions202520262027202820292030ThereafterTotal
Contractual debt obligation maturities$3.4 $13.8 $13.8 $517.2 $20.6 $233.2 $800.0 $1,602.0 
v3.25.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Financial Information by Reportable Segment as follows:
Three months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Net sales$715.6 $338.4 $1,054.0 
Cost of goods sold(1)
470.5 184.9 
Selling, general and administrative(1)
85.7 46.3 
Research and development(1)
13.2 5.6 
Reportable segment income$146.2 $101.6 $247.8 
Nine months ended September 30, 2025
In millionsSystems ProtectionElectrical ConnectionsTotal
Net sales$1,855.8 $970.6 $2,826.4 
Cost of goods sold(1)
1,196.9 536.5 
Selling, general and administrative(1)
236.0 136.1 
Research and development(1)
35.4 16.4 
Reportable segment income$387.5 $281.6 $669.1 
Three months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Net sales$477.1 $304.9 $782.0 
Cost of goods sold(1)
302.7 164.2 
Selling, general and administrative(1)
60.8 42.5 
Research and development(1)
9.2 5.6 
Reportable segment income$104.4 $92.6 $197.0 
Nine months ended September 30, 2024
In millionsSystems ProtectionElectrical ConnectionsTotal
Net sales$1,357.8 $896.1 $2,253.9 
Cost of goods sold(1)
853.3 479.1 
Selling, general and administrative(1)
174.6 128.6 
Research and development(1)
26.9 18.1 
Reportable segment income$303.0 $270.3 $573.3 
(1)    These costs exclude certain expenses reported in the Condensed Consolidated Statements of Income and Comprehensive Income that are reflected in 'Enterprise and other', as well as the costs that are excluded from reportable segment income as discussed above.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The following table presents a reconciliation of reportable segment income to consolidated income before income taxes:
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Systems Protection$146.2 $104.4 $387.5 $303.0 
Electrical Connections101.6 92.6 281.6 270.3 
Reportable segment income247.8 197.0 669.1 573.3 
Enterprise and other(34.5)(28.6)(93.6)(79.6)
Restructuring and other(2.7)(2.8)(6.7)(5.9)
Intangible amortization(41.9)(26.8)(106.0)(66.7)
Acquisition transaction and integration costs(2.4)(5.6)(9.8)(11.1)
Net interest expense(20.9)(30.4)(55.9)(76.6)
Other expense(1.2)(1.2)(3.4)(3.3)
Income before income taxes$144.2 $101.6 $393.7 $330.1 
Identifiable assets(1)
In millionsSeptember 30,
2025		December 31,
2024
Systems Protection$3,342.2 $2,129.3 
Electrical Connections3,281.0 3,154.7 
Total for reportable segments6,623.2 5,284.0 
Enterprise and other142.5 1,450.9 
Consolidated$6,765.7 $6,734.9 
(1)     Identifiable assets for 'Enterprise and other' includes total assets held for sale attributable to the Company's Thermal Management business of $1,276.1 million as of December 31, 2024. See Note 6 for further information on the Company's sale of the Thermal Management business.
Depreciation(1)
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Systems Protection$9.6 $6.5 $23.6 $18.8 
Electrical Connections6.1 5.5 18.0 16.2 
Total reportable segments15.7 12.0 41.6 35.0 
Enterprise and other1.1 1.0 3.4 2.8 
Consolidated$16.8 $13.0 $45.0 $37.8 
(1)    These amounts of depreciation disclosed by reportable segment are included within the significant expense categories above, such as cost of goods sold and selling, general and administrative expenses.
Capital expenditures
Nine months ended
In millionsSeptember 30,
2025		September 30,
2024
Systems Protection$37.1 $28.7 
Electrical Connections14.7 16.6 
Total reportable segments51.8 45.3 
Enterprise and other4.8 2.2 
Consolidated$56.6 $47.5 
v3.25.3
Share-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense
Total share-based compensation expense for the three and nine months ended September 30, 2025 and 2024, was as follows:
Three months endedNine months ended
In millionsSeptember 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Restricted stock units$5.1 $3.8 $14.4 $10.3 
Performance share units3.5 2.2 10.3 5.8 
Stock options2.1 1.4 6.1 4.0 
Total$10.7 $7.4 $30.8 $20.1 
Schedule of Valuation Assumptions
We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends, and using the following assumptions:
2025 Annual Grant
Risk-free interest rate4.33 %
Expected dividend yield1.16 %
Expected share price volatility37.6 %
Expected term (years)6.1
v3.25.3
Basis of Presentation and Responsibility for Interim Financial Statements (Details)
 9 Months Ended
Sep. 30, 2025
segment
Accounting Policies [Abstract]  
Number of reportable segments 2
v3.25.3
Revenue - Geographic Net Sales Information by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Net sales $ 1,054.0 $ 782.0 $ 2,826.4 $ 2,253.9
Americas        
Disaggregation of Revenue [Line Items]        
Net sales 864.8 613.2 2,276.6 1,744.8
EMEA        
Disaggregation of Revenue [Line Items]        
Net sales 152.2 131.1 437.0 402.4
Asia-Pacific        
Disaggregation of Revenue [Line Items]        
Net sales 37.0 37.7 112.8 106.7
Systems Protection        
Disaggregation of Revenue [Line Items]        
Net sales 715.6 477.1 1,855.8 1,357.8
Systems Protection | Americas        
Disaggregation of Revenue [Line Items]        
Net sales 574.2 354.3 1,448.6 988.8
Systems Protection | EMEA        
Disaggregation of Revenue [Line Items]        
Net sales 114.3 95.3 323.9 292.0
Systems Protection | Asia-Pacific        
Disaggregation of Revenue [Line Items]        
Net sales 27.1 27.5 83.3 77.0
Electrical Connections        
Disaggregation of Revenue [Line Items]        
Net sales 338.4 304.9 970.6 896.1
Electrical Connections | Americas        
Disaggregation of Revenue [Line Items]        
Net sales 290.6 258.9 828.0 756.0
Electrical Connections | EMEA        
Disaggregation of Revenue [Line Items]        
Net sales 37.9 35.8 113.1 110.4
Electrical Connections | Asia-Pacific        
Disaggregation of Revenue [Line Items]        
Net sales $ 9.9 $ 10.2 $ 29.5 $ 29.7
v3.25.3
Revenue - Vertical Sales by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Net sales $ 1,054.0 $ 782.0 $ 2,826.4 $ 2,253.9
Systems Protection        
Disaggregation of Revenue [Line Items]        
Net sales 715.6 477.1 1,855.8 1,357.8
Electrical Connections        
Disaggregation of Revenue [Line Items]        
Net sales 338.4 304.9 970.6 896.1
Infrastructure        
Disaggregation of Revenue [Line Items]        
Net sales 494.6 265.6 1,208.9 710.0
Infrastructure | Systems Protection        
Disaggregation of Revenue [Line Items]        
Net sales 373.3 177.0 883.7 452.0
Infrastructure | Electrical Connections        
Disaggregation of Revenue [Line Items]        
Net sales 121.3 88.6 325.2 258.0
Industrial        
Disaggregation of Revenue [Line Items]        
Net sales 309.3 271.5 873.1 813.3
Industrial | Systems Protection        
Disaggregation of Revenue [Line Items]        
Net sales 265.8 231.9 744.9 698.8
Industrial | Electrical Connections        
Disaggregation of Revenue [Line Items]        
Net sales 43.5 39.6 128.2 114.5
Commercial & Residential        
Disaggregation of Revenue [Line Items]        
Net sales 232.1 224.0 682.9 670.3
Commercial & Residential | Systems Protection        
Disaggregation of Revenue [Line Items]        
Net sales 69.0 60.9 201.4 185.8
Commercial & Residential | Electrical Connections        
Disaggregation of Revenue [Line Items]        
Net sales 163.1 163.1 481.5 484.5
Energy        
Disaggregation of Revenue [Line Items]        
Net sales 18.0 20.9 61.5 60.3
Energy | Systems Protection        
Disaggregation of Revenue [Line Items]        
Net sales 7.5 7.3 25.8 21.2
Energy | Electrical Connections        
Disaggregation of Revenue [Line Items]        
Net sales $ 10.5 $ 13.6 $ 35.7 $ 39.1
v3.25.3
Revenue - Schedule of Contract Assets and Liabilities (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]    
Contract assets $ 165.5 $ 54.9
Contract liabilities 173.0 22.5
Net contract assets (7.5) $ 32.4
$ Change    
Contract assets 110.6  
Contract liabilities 150.5  
Net contract assets $ 39.9  
% Change    
Contract assets 201.50%  
Contract liabilities 668.90%  
Net contract assets (123.10%)  
v3.25.3
Revenue - Additional Information (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]    
Net contract assets (liabilities) $ (39.9)  
Material impairment losses $ 0.0 $ 0.0
v3.25.3
Revenue - Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
$ in Millions
Sep. 30, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 827.7
Maximum  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, expected timing of satisfaction period 18 months
v3.25.3
Restructuring - Costs Included in Selling, General & Administrative Expenses (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]        
Restructuring costs $ 2.7 $ 2.8 $ 6.7 $ 5.4
Severance and related costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring costs 1.8 1.9 4.0 3.7
Other        
Restructuring Cost and Reserve [Line Items]        
Restructuring costs $ 0.9 $ 0.9 $ 2.7 $ 1.7
v3.25.3
Restructuring - Costs by Reportable Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]        
Total restructuring costs $ 2.7 $ 2.8 $ 6.7 $ 5.4
Systems Protection | Operating Segments        
Restructuring Cost and Reserve [Line Items]        
Total restructuring costs 0.4 0.7 1.0 1.1
Electrical Connections | Operating Segments        
Restructuring Cost and Reserve [Line Items]        
Total restructuring costs 2.1 1.9 2.9 3.8
Enterprise and other | Operating Segments        
Restructuring Cost and Reserve [Line Items]        
Total restructuring costs $ 0.2 $ 0.2 $ 2.8 $ 0.5
v3.25.3
Restructuring - Accrual Activity (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Restructuring Reserve [Roll Forward]    
Beginning balance $ 1.8 $ 1.2
Costs incurred 4.0 3.7
Cash payments and other (3.0) (3.0)
Ending balance $ 2.8 $ 1.9
v3.25.3
Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Abstract]        
Net income from continuing operations $ 119.0 $ 78.9 $ 312.7 $ 257.3
Income from discontinued operations, net of tax (Note 6) 2.2 26.1 278.7 63.8
Net income $ 121.2 $ 105.0 $ 591.4 $ 321.1
Weighted average common shares outstanding        
Basic (shares) 161.2 165.6 162.7 165.7
Dilutive impact of stock options, restricted stock units and performance share units (in shares) 2.4 2.5 2.1 2.8
Diluted (shares) 163.6 168.1 164.8 168.5
Basic        
Continuing operations (in dollars per share) $ 0.74 $ 0.47 $ 1.92 $ 1.55
Discontinued operations (in dollars per share) 0.01 0.16 1.71 0.39
Basic earnings per ordinary share (in dollars per share) 0.75 0.63 3.63 1.94
Diluted        
Continuing operations (in dollars per share) 0.73 0.47 1.90 1.53
Discontinued operations (in dollars per share) 0.01 0.15 1.69 0.38
Diluted earnings per ordinary share (in dollars per share) $ 0.74 $ 0.62 $ 3.59 $ 1.91
Anti-dilutive stock options excluded from the calculation of diluted earnings per share 0.0 0.4 0.4 0.3
v3.25.3
Acquisitions (Details) - USD ($)
$ in Millions
 2 Months Ended 3 Months Ended 9 Months Ended
Jun. 30, 2025
Sep. 30, 2025
Sep. 30, 2025
May 01, 2025
Dec. 31, 2024
Jul. 16, 2024
Business Acquisition [Line Items]            
Goodwill   $ 2,678.8 $ 2,678.8   $ 2,221.8  
Electrical Products Group            
Business Acquisition [Line Items]            
Purchase price $ 975.4 978.7 978.7 $ 978.7    
Goodwill 440.9 440.9 440.9      
Identifiable intangible assets 429.8 433.8 433.8      
Net sales since acquisition 205.7 127.2        
Operating income since acquisition $ 26.0 14.6        
Amortization since acquisition   13.6 21.3      
Electrical Products Group | Customer relationships            
Business Acquisition [Line Items]            
Identifiable intangible assets       325.2    
Electrical Products Group | Proprietary Technology            
Business Acquisition [Line Items]            
Identifiable intangible assets       $ 32.8    
Useful life       8 years    
Electrical Products Group | Customer Backlog            
Business Acquisition [Line Items]            
Identifiable intangible assets       $ 75.8    
Useful life       3 years    
Electrical Products Group | Minimum | Customer relationships            
Business Acquisition [Line Items]            
Useful life       16 years    
Electrical Products Group | Maximum | Customer relationships            
Business Acquisition [Line Items]            
Useful life       20 years    
Trachte, LLC            
Business Acquisition [Line Items]            
Purchase price   687.5 687.5   $ 687.5  
Goodwill   368.9 368.9      
Identifiable intangible assets   $ 331.5 $ 331.5      
Trachte, LLC | Trade names            
Business Acquisition [Line Items]            
Identifiable intangible assets           $ 55.4
Trachte, LLC | Customer relationships            
Business Acquisition [Line Items]            
Identifiable intangible assets           $ 206.6
Useful life           17 years
Trachte, LLC | Proprietary Technology            
Business Acquisition [Line Items]            
Identifiable intangible assets           $ 23.8
Useful life           8 years
Trachte, LLC | Customer Backlog            
Business Acquisition [Line Items]            
Identifiable intangible assets           $ 45.7
Useful life           2 years
v3.25.3
Acquisitions - Schedule of Assets and Liabilities Acquired (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Jun. 30, 2025
May 01, 2025
Dec. 31, 2024
Jul. 16, 2024
Business Acquisition [Line Items]          
Goodwill $ 2,678.8     $ 2,221.8  
Trachte, LLC          
Business Acquisition [Line Items]          
Cash 13.6        
Accounts receivable 45.4        
Inventories 10.0        
Other current assets 42.2        
Property, plant and equipment 11.1        
Identifiable intangible assets 331.5        
Goodwill 368.9        
Other assets 25.3        
Current liabilities (63.2)        
Other liabilities (97.3)        
Purchase price 687.5     $ 687.5  
Trachte, LLC | Trade names          
Business Acquisition [Line Items]          
Identifiable intangible assets         $ 55.4
Electrical Products Group          
Business Acquisition [Line Items]          
Accounts receivable 98.0 $ 98.6      
Inventories 22.0 22.0      
Other current assets 87.3 87.3      
Property, plant and equipment 39.0 39.2      
Identifiable intangible assets 433.8 429.8      
Goodwill 440.9 440.9      
Other assets 23.5 23.5      
Current liabilities (145.8) (145.9)      
Other liabilities (20.0) (20.0)      
Purchase price $ 978.7 $ 975.4 $ 978.7    
v3.25.3
Acquisitions - Pro Forma Information (Details) - Trachte, LLC and ECM Investors, LLC - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Business Acquisition [Line Items]        
Net sales $ 1,054.0 $ 882.1 $ 2,966.2 $ 2,626.0
Net income from continuing operations 119.8 84.6 326.0 253.0
Net income $ 122.0 $ 110.7 $ 604.7 $ 316.8
Basic        
Continuing operations (in dollars per share) $ 0.74 $ 0.51 $ 2.00 $ 1.53
Basic (in dollars per share) 0.75 0.67 3.71 1.92
Diluted        
Continuing operations (in dollars per share) 0.73 0.50 1.98 1.50
Diluted (in dollars per share) $ 0.74 $ 0.65 $ 3.67 $ 1.88
v3.25.3
Discontinued Operations - Narrative (Details) - Discontinued Operations, Held-for-Sale - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Jan. 30, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Purchase price         $ 1,700.0
Net purchase price         $ 1,585.1
Loss (gain) from sale of discontinued operations before income taxes $ 0.1 $ 0.0 $ (435.3) $ 0.0  
Provision for (benefit from) income taxes $ (2.5) 5.2 158.0 17.7  
Thermal Management          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Transaction costs   $ 12.6 $ 32.8 $ 21.2  
v3.25.3
Discontinued Operations - Operating Results (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Income from discontinued operations, net of tax $ 2.2 $ 26.1 $ 278.7 $ 63.8
Discontinued Operations, Held-for-Sale        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Net sales 0.0 157.1 40.5 440.1
Cost of goods sold 0.0 81.5 20.9 239.3
Gross profit 0.0 75.6 19.6 200.8
Selling, general and administrative 0.2 39.8 16.9 105.9
Research and development 0.0 4.6 1.3 13.5
Operating income (loss) (0.2) 31.2 1.4 81.4
Other expense (income) 0.0 (0.1)    
Income (loss) from discontinued operations before gain from sale and income taxes (0.2) 31.3 1.4 81.5
Loss (gain) from sale of discontinued operations before income taxes 0.1 0.0 (435.3) 0.0
Provision for (benefit from) income taxes (2.5) 5.2 158.0 17.7
Income from discontinued operations, net of tax $ 2.2 $ 26.1 $ 278.7 $ 63.8
v3.25.3
Discontinued Operations - Assets and Liabilities (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Cash and cash equivalents $ 0.0 $ 58.7 $ 10.3 $ 5.5
Current assets held for sale 0.0 300.8    
Non-current assets held for sale 0.0 975.3    
Current liabilities held for sale 0.0 122.5    
Non-current liabilities held for sale $ 0.0 45.9    
Discontinued Operations, Held-for-Sale        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Cash and cash equivalents   58.7    
Accounts receivable, net of allowances   115.0    
Inventories   80.8    
Other current assets   46.3    
Current assets held for sale   300.8    
Property, plant and equipment, net   71.4    
Goodwill   709.1    
Intangibles, net   153.4    
Other non-current assets   41.4    
Non-current assets held for sale   975.3    
Accounts payable   40.9    
Employee compensation and benefits   20.6    
Other current liabilities   61.0    
Current liabilities held for sale   122.5    
Pension and other post-retirement compensation and benefits   12.1    
Deferred tax liabilities   12.0    
Other non-current liabilities   21.8    
Non-current liabilities held for sale   $ 45.9    
v3.25.3
Goodwill and Other Identifiable Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization $ 41.9 $ 26.8 $ 106.0 $ 66.7
v3.25.3
Goodwill and Other Identifiable Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2025
USD ($)
Goodwill [Roll Forward]  
Beginning Balance $ 2,221.8
Acquisitions/divestitures 443.4
Foreign currency translation/other 13.6
Ending Balance 2,678.8
Systems Protection  
Goodwill [Roll Forward]  
Beginning Balance 790.1
Acquisitions/divestitures 399.6
Foreign currency translation/other 13.6
Ending Balance 1,203.3
Electrical Connections  
Goodwill [Roll Forward]  
Beginning Balance 1,431.7
Acquisitions/divestitures 43.8
Foreign currency translation/other 0.0
Ending Balance $ 1,475.5
v3.25.3
Goodwill and Other Identifiable Intangible Assets - Definite-life Intangible Assets (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets, Net [Abstract]    
Cost $ 2,154.4 $ 1,713.6
Accumulated amortization (605.1) (497.1)
Net 1,549.3 1,216.5
Customer relationships    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost 1,903.4 1,571.7
Accumulated amortization (527.2) (458.7)
Net 1,376.2 1,113.0
Proprietary technology and patents    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost 111.5 78.2
Accumulated amortization (28.4) (19.5)
Net 83.1 58.7
Other finite-lived intangible assets    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost 139.5 63.7
Accumulated amortization (49.5) (18.9)
Net $ 90.0 $ 44.8
v3.25.3
Goodwill and Other Identifiable Intangible Assets - Indefinite-life Intangible Assets (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Indefinite-lived Intangible Assets [Line Items]          
Amortization $ 41.9 $ 26.8 $ 106.0 $ 66.7  
Cost 2,522.0   2,522.0   $ 2,084.1
Accumulated amortization (605.1)   (605.1)   (497.1)
Net 1,916.9   1,916.9   1,587.0
Trade names          
Indefinite-lived Intangible Assets [Line Items]          
Indefinite-life intangibles $ 367.6   $ 367.6   $ 370.5
v3.25.3
Goodwill and Other Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Q4 2025 $ 41.1
2026 153.8
2027 136.3
2028 111.0
2029 111.0
2030 $ 107.8
v3.25.3
Supplemental Balance Sheet Information (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Inventories    
Raw materials and supplies $ 216.6 $ 146.4
Work-in-process 26.4 15.8
Finished goods 212.2 198.1
Total inventories 455.2 360.3
Other current assets    
Contract assets 165.5 54.9
Prepaid expenses 40.5 36.1
Prepaid income taxes 7.6 18.1
Other current assets 17.1 14.8
Total other current assets 230.7 123.9
Property, plant and equipment, net    
Land and land improvements 28.1 21.5
Buildings and leasehold improvements 207.2 177.1
Machinery and equipment 620.7 565.6
Construction in progress 64.0 47.2
Total property, plant and equipment 920.0 811.4
Accumulated depreciation and amortization 518.4 463.5
Total property, plant and equipment, net 401.6 347.9
Other non-current assets    
Deferred compensation plan assets 18.0 15.4
Operating lease right-of-use assets 130.9 107.2
Deferred tax assets 58.9 57.0
Other non-current assets 29.6 34.0
Total other non-current assets 237.4 213.6
Other current liabilities    
Dividends payable 32.8 33.9
Accrued rebates 80.5 69.4
Contract liabilities 173.0 22.5
Accrued taxes payable 67.5 50.7
Accrued interest 24.7 11.6
Current operating lease liabilities 29.4 22.4
Other current liabilities 75.7 56.0
Total other current liabilities 483.6 266.5
Other non-current liabilities    
Income taxes payable 11.6 11.7
Deferred compensation plan liabilities 18.0 15.4
Foreign currency contract liabilities 35.9 8.4
Non-current operating lease liabilities 107.9 90.7
Other non-current liabilities 33.1 31.7
Total other non-current liabilities $ 206.5 $ 157.9
v3.25.3
Derivatives and Financial Instruments - Additional Information (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Derivative [Line Items]    
Derivative instruments in hedges, net $ (0.8) $ 0.7
Foreign Exchange Contract    
Derivative [Line Items]    
Derivative, notional amount 121.2 73.8
Currency Swap    
Derivative [Line Items]    
Derivative, notional amount $ 360.3 $ 321.1
v3.25.3
Derivatives and Financial Instruments - Recorded Amounts and Estimated Fair Values (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Derivative [Line Items]    
Total $ 1,602.0  
Recorded Amount    
Derivative [Line Items]    
Variable rate debt 302.0 $ 866.3
Fixed rate debt 1,300.0 1,300.0
Total 1,602.0 2,166.3
Fair Value    
Derivative [Line Items]    
Variable rate debt 302.0 866.3
Fixed rate debt 1,293.6 1,251.8
Total $ 1,595.6 $ 2,118.1
v3.25.3
Derivatives and Financial Instruments - Assets and Liabilities Measured at Fair Value (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets $ 18.0 $ 15.4
Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets 18.0 15.4
Total recurring fair value measurements (16.5) 13.8
Recurring | Currency Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities (35.9) (8.4)
Foreign currency contract assets 0.9 6.8
Recurring | Forward Contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities (0.2) (0.3)
Foreign currency contract assets 0.7 0.3
Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets 11.4 10.2
Total recurring fair value measurements 11.4 10.2
Recurring | Level 1 | Currency Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities 0.0 0.0
Foreign currency contract assets 0.0 0.0
Recurring | Level 1 | Forward Contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities 0.0 0.0
Foreign currency contract assets 0.0 0.0
Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets 0.0 0.0
Total recurring fair value measurements (34.5) (1.6)
Recurring | Level 2 | Currency Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities (35.9) (8.4)
Foreign currency contract assets 0.9 6.8
Recurring | Level 2 | Forward Contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities (0.2) (0.3)
Foreign currency contract assets 0.7 0.3
Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets 0.0 0.0
Total recurring fair value measurements 0.0 0.0
Recurring | Level 3 | Currency Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities 0.0 0.0
Foreign currency contract assets 0.0 0.0
Recurring | Level 3 | Forward Contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities 0.0 0.0
Foreign currency contract assets 0.0 0.0
Recurring | NAV    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets 6.6 5.2
Total recurring fair value measurements 6.6 5.2
Recurring | NAV | Currency Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities 0.0 0.0
Foreign currency contract assets 0.0 0.0
Recurring | NAV | Forward Contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cross currency swap liabilities 0.0 0.0
Foreign currency contract assets $ 0.0 $ 0.0
v3.25.3
Debt - Schedule of Debt (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
May 31, 2023
Apr. 30, 2023
Nov. 30, 2021
Mar. 31, 2018
Debt Instrument [Line Items]              
Long-term debt, gross $ 1,602.0            
Unamortized debt issuance costs and discounts (8.7) $ (11.3)          
Total debt 1,593.3 2,155.0          
Less: Current maturities and short-term borrowings (13.8) (37.5)          
Long-term debt $ 1,579.5 2,117.5          
Senior Notes | Revolving Credit Facility              
Debt Instrument [Line Items]              
Average interest rate at September 30, 2025 5.254%            
Long-term debt, gross $ 30.4 0.0          
Senior Notes | 2021 Term Loan Facility | Term Loan Facility              
Debt Instrument [Line Items]              
Long-term debt, gross 0.0 88.8          
Senior Notes | 2023 Term Loan Facility | Term Loan Facility              
Debt Instrument [Line Items]              
Long-term debt, gross 0.0 277.5     $ 300.0    
Senior Notes | 2024 Term Loan Facility | Term Loan Facility              
Debt Instrument [Line Items]              
Long-term debt, gross 0.0 500.0 $ 500.0        
Senior Notes | Senior Notes, Due 2028              
Debt Instrument [Line Items]              
Average interest rate at September 30, 2025             4.55%
Long-term debt, gross 500.0 500.0          
Senior Notes | Senior Notes, Due 2031              
Debt Instrument [Line Items]              
Average interest rate at September 30, 2025           2.75%  
Long-term debt, gross 300.0 300.0       $ 300.0  
Senior Notes | Senior Notes Due 2033              
Debt Instrument [Line Items]              
Average interest rate at September 30, 2025       5.65%      
Long-term debt, gross $ 500.0 500.0   $ 500.0      
Senior Notes | 2025 Term Loan Facility | Term Loan Facility              
Debt Instrument [Line Items]              
Average interest rate at September 30, 2025 5.416%            
Long-term debt, gross $ 271.6 $ 0.0          
v3.25.3
Debt - Senior Notes (Details) - USD ($)
$ in Millions
 1 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Sep. 30, 2021
Sep. 30, 2025
Dec. 31, 2024
May 31, 2023
Nov. 30, 2021
Mar. 31, 2018
Debt Instrument [Line Items]                
Long-term debt       $ 1,602.0        
Senior Notes | Term Loan Facility                
Debt Instrument [Line Items]                
Debt term 5 years   5 years          
Senior Notes | Senior Notes, Due 2028                
Debt Instrument [Line Items]                
Debt face amount               $ 500.0
Average interest rate               4.55%
Long-term debt       500.0 $ 500.0      
Senior Notes | Senior Notes, Due 2031                
Debt Instrument [Line Items]                
Average interest rate             2.75%  
Long-term debt       300.0 300.0   $ 300.0  
Senior Notes | Senior Notes Due 2033                
Debt Instrument [Line Items]                
Average interest rate           5.65%    
Long-term debt       500.0 500.0 $ 500.0    
Senior Notes | 2024 Term Loan Facility | Term Loan Facility                
Debt Instrument [Line Items]                
Long-term debt   $ 500.0   $ 0.0 $ 500.0      
Debt term   2 years            
v3.25.3
Debt - Senior Credit Facilities (Details)
$ in Millions
 1 Months Ended 9 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Debt Instrument [Line Items]              
Long-term debt         $ 1,602.0    
Repayment of debt         $ 869.7 $ 22.5  
Senior Notes | Senior Credit Facilities              
Debt Instrument [Line Items]              
EBITDA ratio covenant         3.00    
Senior Notes | Senior Credit Facilities | Minimum              
Debt Instrument [Line Items]              
Debt covenant, consolidated unrestricted cash         $ 5.0    
Leverage ratio covenant         3.75    
Senior Notes | Senior Credit Facilities | Maximum              
Debt Instrument [Line Items]              
Debt covenant, consolidated unrestricted cash         $ 250.0    
Leverage ratio covenant         4.25    
Senior Notes | Term Loan Facility              
Debt Instrument [Line Items]              
Debt term 5 years     5 years      
Maximum borrowing capacity $ 275.0     $ 300.0      
Senior Notes | Term Loan Facility | 2023 Term Loan Facility              
Debt Instrument [Line Items]              
Debt term     5 years        
Long-term debt     $ 300.0   $ 0.0   $ 277.5
Senior Notes | Term Loan Facility | 2024 Term Loan Facility              
Debt Instrument [Line Items]              
Debt term   2 years          
Long-term debt   $ 500.0     0.0   500.0
Senior Notes | Revolving Credit Facility              
Debt Instrument [Line Items]              
Debt term 5 years     5 years      
Maximum borrowing capacity $ 600.0     $ 600.0      
Line of credit increase limit $ 300.0            
Line of credit facility, remaining borrowing capacity         569.6    
Long-term debt         $ 30.4   $ 0.0
v3.25.3
Debt - Schedule of Contracutal Debt Maturities (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Debt Disclosure [Abstract]  
Q4 2025 $ 3.4
2026 13.8
2027 13.8
2028 517.2
2029 20.6
2030 233.2
Thereafter 800.0
Total $ 1,602.0
v3.25.3
Income Taxes (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Income Tax Disclosure [Abstract]      
Effective income tax rate 20.60% 22.10%  
Total gross liability for unrecognized tax benefits $ 11.6   $ 11.7
v3.25.3
Shareholders' Equity (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
May 17, 2024
May 14, 2021
Equity [Abstract]                  
Repurchase of shares of our common stock up to a maximum aggregate value               $ 500.0 $ 300.0
Shares repurchased (in shares)         4.8 1.5      
Shares repurchased   $ 200.0 $ 53.1 $ 100.0 $ 253.1 $ 100.0      
Remaining authorized repurchase amount $ 146.9       146.9        
Dividends payable $ 32.8       $ 32.8   $ 33.9    
Dividends declared (in dollars per share) $ 0.20                
v3.25.3
Segment Information - Financial Information by Reportable Segment (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2024
USD ($)
Segment Reporting Information [Line Items]        
Number of reportable segments | segment     2  
Net sales $ 1,054.0 $ 782.0 $ 2,826.4 $ 2,253.9
Reportable segment income 166.3 133.2 453.0 410.0
Cost of goods sold 659.3 470.9 1,746.2 1,344.3
Selling, general and administrative 207.8 161.8 570.0 450.7
Research and development 20.6 16.1 57.2 48.9
Systems Protection        
Segment Reporting Information [Line Items]        
Net sales 715.6 477.1 1,855.8 1,357.8
Electrical Connections        
Segment Reporting Information [Line Items]        
Net sales 338.4 304.9 970.6 896.1
Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 1,054.0 782.0 2,826.4 2,253.9
Reportable segment income 247.8 197.0 669.1 573.3
Operating Segments | Systems Protection        
Segment Reporting Information [Line Items]        
Net sales 715.6 477.1 1,855.8 1,357.8
Reportable segment income 146.2 104.4 387.5 303.0
Cost of goods sold 470.5 302.7 1,196.9 853.3
Selling, general and administrative 85.7 60.8 236.0 174.6
Research and development 13.2 9.2 35.4 26.9
Operating Segments | Electrical Connections        
Segment Reporting Information [Line Items]        
Net sales 338.4 304.9 970.6 896.1
Reportable segment income 101.6 92.6 281.6 270.3
Cost of goods sold 184.9 164.2 536.5 479.1
Selling, general and administrative 46.3 42.5 136.1 128.6
Research and development $ 5.6 $ 5.6 $ 16.4 $ 18.1
v3.25.3
Segment Information - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]          
Reportable segment income $ 166.3 $ 133.2 $ 453.0 $ 410.0  
Restructuring and other (2.7) (2.8) (6.7) (5.4)  
Intangible amortization (41.9) (26.8) (106.0) (66.7)  
Net interest expense (20.9) (30.4) (55.9) (76.6)  
Other expense (1.2) (1.2) (3.4) (3.3)  
Income from continuing operations before income taxes 144.2 101.6 393.7 330.1  
Assets 6,765.7   6,765.7   $ 6,734.9
Depreciation 16.8 13.0 45.0 37.8  
Capital expenditures     56.6 47.5  
Discontinued Operations, Held-for-Sale          
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]          
Assets, discontinued operation         1,276.1
Operating Segments          
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]          
Reportable segment income 247.8 197.0 669.1 573.3  
Assets 6,623.2   6,623.2   5,284.0
Depreciation 15.7 12.0 41.6 35.0  
Capital expenditures     51.8 45.3  
Operating Segments | Systems Protection          
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]          
Reportable segment income 146.2 104.4 387.5 303.0  
Restructuring and other (0.4) (0.7) (1.0) (1.1)  
Assets 3,342.2   3,342.2   2,129.3
Depreciation 9.6 6.5 23.6 18.8  
Capital expenditures     37.1 28.7  
Operating Segments | Electrical Connections          
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]          
Reportable segment income 101.6 92.6 281.6 270.3  
Restructuring and other (2.1) (1.9) (2.9) (3.8)  
Assets 3,281.0   3,281.0   3,154.7
Depreciation 6.1 5.5 18.0 16.2  
Capital expenditures     14.7 16.6  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment          
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]          
Restructuring and other (2.7) (2.8) (6.7) (5.9)  
Intangible amortization (41.9) (26.8) (106.0) (66.7)  
Acquisition transaction and integration costs (2.4) (5.6) (9.8) (11.1)  
Net interest expense (20.9) (30.4) (55.9) (76.6)  
Other expense (1.2) (1.2) (3.4) (3.3)  
Capital expenditures     4.8 2.2  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Enterprise and other          
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]          
Reportable segment income (34.5) (28.6) (93.6) (79.6)  
Segment Reporting, Reconciling Item, Corporate Nonsegment          
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]          
Assets 142.5   142.5   $ 1,450.9
Depreciation $ 1.1 $ 1.0 $ 3.4 $ 2.8  
v3.25.3
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Stand-by Letters of Credit, Bank Guarantees and Bonds    
Guarantor Obligations [Line Items]    
Obligations outstanding $ 58.8 $ 10.7
v3.25.3
Share-Based Compensation - Total Share-Based Compensation (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Share-based compensation expense $ 10.7 $ 7.4 $ 30.8 $ 20.1
Restricted stock units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Share-based compensation expense 5.1 3.8 14.4 10.3
Performance share units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Share-based compensation expense 3.5 2.2 10.3 5.8
Stock options        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Share-based compensation expense $ 2.1 $ 1.4 $ 6.1 $ 4.0
v3.25.3
Share-Based Compensation - Stock Option Assumptions (Details) - Stock options
 9 Months Ended
Sep. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Risk-free interest rate 4.33%
Expected dividend yield 1.16%
Expected share price volatility 37.60%
Expected term (years) 6 years 1 month 6 days
v3.25.3
Share-Based Compensation - Narrative (Details)
shares in Millions
 9 Months Ended
Sep. 30, 2025
$ / shares
shares
Restricted stock units  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Grants in period (in shares) 0.3
Weighted average grant date fair value (in dollars per share) | $ / shares $ 56.35
Performance share units  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Grants in period (in shares) 0.2
Weighted average grant date fair value (in dollars per share) | $ / shares $ 59.17
Stock options  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Grants in period (in shares) 0.3
Weighted-average grant date fair value for options granted during the year (in USD per share) | $ / shares $ 22.05
RSUs, PSUs, and Options  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Awards issued in period 0.8