Univar Solutions (UNVR) 10-Q 31 Jul 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-37443
Entity Registrant Name	Univar Solutions Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1251958
Entity Address, Address Line One	3075 Highland Parkway, Suite 200
Entity Address, City or Town	Downers Grove,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60515
City Area Code	331
Local Phone Number	777-6000
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	UNVR
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		157,799,503
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001494319
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 2,574.1	$ 3,016.6	$ 5,259	$ 5,899.2
Cost of goods sold (exclusive of depreciation)	1,949.3	2,280.6	3,994.9	4,433.7
Operating expenses:
Outbound freight and handling	113.9	125.7	231.3	241.6
Warehousing, selling, and administrative	289.5	318.7	596	613
Other operating expenses, net	12.5	5.3	37.9	21
Depreciation	33.9	32.2	66.3	65.1
Amortization	11.9	12	23.1	23.8
Impairment charges	0.2	0	0.4	0
Total operating expenses	461.9	493.9	955	964.5
Operating income	162.9	242.1	309.1	501
Other expense:
Interest income	2	1	3.8	2.1
Interest expense	(33.8)	(24.3)	(67)	(46.5)
Other (expense) income, net	(9.1)	2.7	(15.5)	10.4
Total other expense	(40.9)	(20.6)	(78.7)	(34)
Income before income taxes	122	221.5	230.4	467
Income tax expense	34.2	58.6	59.5	123.3
Net income	$ 87.8	$ 162.9	$ 170.9	$ 343.7
Income per common share:
Basic (in dollars per share)	$ 0.56	$ 0.97	$ 1.08	$ 2.03
Diluted (in dollars per share)	$ 0.55	$ 0.96	$ 1.07	$ 2.02
Weighted average common shares outstanding:
Basic (in shares)	157.8	168.4	157.8	169
Diluted (in shares)	159.5	169.7	159.6	170.5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 87.8	$ 162.9	$ 170.9	$ 343.7
Other comprehensive income (loss), net of tax:
Foreign currency translation, net of tax of $— for the three and six months ended June 30, 2023 and 2022	32.7	(55.3)	54.7	(38.1)
Pension and other postretirement benefits adjustment, net of tax of $0.1 for the three and six months ended June 30, 2023 and 2022	(0.1)	(0.2)	(0.3)	(0.3)
Derivative financial instruments, net of tax of $(6.1) and $(1.5) for the three and six months ended June 30, 2023, respectively, and $(6.7) and $(19.2) for the three and six months ended June 30, 2022, respectively	17.7	19.3	4.2	55.7
Total other comprehensive income (loss), net of tax	50.3	(36.2)	58.6	17.3
Comprehensive income	$ 138.1	$ 126.7	$ 229.5	$ 361

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0	$ 0	$ 0
Pension and other postretirement benefits adjustment, tax	0.1	0.1	0.1	0.1
Derivative financial instruments, tax expense (benefit)	$ (6.1)	$ (6.7)	$ (1.5)	$ (19.2)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 429,500,000	$ 385,300,000
Trade accounts receivable, net of allowance for doubtful accounts of $14.3 and $13.1 at June 30, 2023 and December 31, 2022, respectively	1,501,400,000	1,489,900,000
Inventories	994,800,000	1,137,800,000
Prepaid expenses and other current assets	236,000,000	217,800,000
Total current assets	3,161,700,000	3,230,800,000
Property, plant, and equipment, net	1,092,300,000	1,055,000,000
Goodwill	2,363,800,000	2,288,200,000
Intangible assets, net	193,000,000	167,000,000
Deferred tax assets	21,900,000	20,700,000
Other assets	419,400,000	384,000,000
Total assets	7,252,100,000	7,145,700,000
Current liabilities:
Short-term financing	7,400,000	0
Trade accounts payable	914,400,000	982,500,000
Current portion of long-term debt	41,600,000	38,900,000
Accrued compensation	96,800,000	204,700,000
Other accrued expenses	390,400,000	401,300,000
Total current liabilities	1,450,600,000	1,627,400,000
Long-term debt	2,408,800,000	2,426,900,000
Pension and other postretirement benefit liabilities	134,700,000	135,200,000
Deferred tax liabilities	113,300,000	106,200,000
Other long-term liabilities	408,700,000	355,800,000
Total liabilities	4,516,100,000	4,651,500,000
Stockholders’ equity:
Preferred stock, $0.01 par value, 200,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 173,660,528 and 173,237,533 shares issued at June 30, 2023 and December 31, 2022, respectively	1,700,000	1,700,000
Additional paid-in capital	3,110,800,000	3,046,000,000
Treasury stock at cost, 15,876,417 and 15,254,566 shares at June 30, 2023 and December 31, 2022, respectively	(461,600,000)	(409,100,000)
Retained earnings	371,200,000	200,300,000
Accumulated other comprehensive loss	(286,100,000)	(344,700,000)
Total stockholders’ equity	2,736,000,000	2,494,200,000
Total liabilities and stockholders’ equity	$ 7,252,100,000	$ 7,145,700,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 14.3	$ 13.1
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, share issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	173,660,528	173,237,533
Common stock, shares outstanding (in shares)	173,660,528	173,237,533
Treasury stock (in shares)	15,876,417	15,254,566

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings/ Accumulated deficit	Accumulated other comprehensive loss
Beginning balance (in shares) at Dec. 31, 2021		169,400,000
Beginning balance at Dec. 31, 2021	$ 2,292.5	$ 1.7	$ 3,048.5	$ (50)	$ (345)	$ (362.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343.7				343.7
Other comprehensive income (loss), net of tax	17.3					17.3
Restricted stock units vested, net of tax withholdings (in shares)		500,000
Restricted stock units vested, net of tax withholdings	(7.5)		(7.5)
Stock option exercises (in shares)		700,000
Stock option exercises	16		16
Employee stock purchase plan	0.8		0.8
Stock-based compensation expense	21.7		21.7
Purchases of treasury stock (in shares)		(3,500,000)
Purchases of treasury stock	(104.6)			(104.6)
Other	(0.9)		(0.9)
Ending balance (in shares) at Jun. 30, 2022		167,100,000
Ending balance at Jun. 30, 2022	2,579	$ 1.7	3,078.6	(154.6)	(1.3)	(345.4)
Beginning balance (in shares) at Dec. 31, 2021		169,400,000
Beginning balance at Dec. 31, 2021	$ 2,292.5	$ 1.7	3,048.5	(50)	(345)	(362.7)
Ending balance (in shares) at Dec. 31, 2022	173,237,533	158,000,000
Ending balance at Dec. 31, 2022	$ 2,494.2	$ 1.7	3,046	(409.1)	200.3	(344.7)
Beginning balance (in shares) at Mar. 31, 2022		169,500,000
Beginning balance at Mar. 31, 2022	2,516.8	$ 1.7	3,062.5	(74)	(164.2)	(309.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	162.9				162.9
Other comprehensive income (loss), net of tax	(36.2)					(36.2)
Restricted stock units vested, net of tax withholdings	(0.3)		(0.3)
Stock option exercises (in shares)		400,000
Stock option exercises	7.6		7.6
Employee stock purchase plan	0.8		0.8
Stock-based compensation expense	7.8		7.8
Purchases of treasury stock (in shares)		(2,800,000)
Purchases of treasury stock	(80.6)			(80.6)
Other	0.2		0.2
Ending balance (in shares) at Jun. 30, 2022		167,100,000
Ending balance at Jun. 30, 2022	$ 2,579	$ 1.7	3,078.6	(154.6)	(1.3)	(345.4)
Beginning balance (in shares) at Dec. 31, 2022	173,237,533	158,000,000
Beginning balance at Dec. 31, 2022	$ 2,494.2	$ 1.7	3,046	(409.1)	200.3	(344.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	170.9				170.9
Other comprehensive income (loss), net of tax	58.6					58.6
Restricted stock units vested, net of tax withholdings (in shares)		300,000
Restricted stock units vested, net of tax withholdings	(4.5)		(4.5)
Stock option exercises (in shares)		100,000
Stock option exercises	3.2		3.2
Stock-based compensation expense	16.1		16.1
Purchases of treasury stock (in shares)		(600,000)
Purchases of treasury stock	$ (2.5)		50	(52.5)
Ending balance (in shares) at Jun. 30, 2023	173,660,528	157,800,000
Ending balance at Jun. 30, 2023	$ 2,736	$ 1.7	3,110.8	(461.6)	371.2	(286.1)
Beginning balance (in shares) at Mar. 31, 2023		157,700,000
Beginning balance at Mar. 31, 2023	2,591.2	$ 1.7	3,104.1	(461.6)	283.4	(336.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	87.8				87.8
Other comprehensive income (loss), net of tax	50.3					50.3
Restricted stock units vested, net of tax withholdings (in shares)		100,000
Restricted stock units vested, net of tax withholdings	(0.1)		(0.1)
Stock option exercises	1.3		1.3
Stock-based compensation expense	$ 5.5		5.5
Ending balance (in shares) at Jun. 30, 2023	173,660,528	157,800,000
Ending balance at Jun. 30, 2023	$ 2,736	$ 1.7	$ 3,110.8	$ (461.6)	$ 371.2	$ (286.1)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities:
Net income	$ 170.9	$ 343.7
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization	89.4	88.9
Impairment charges	0.4	0
Amortization of deferred financing fees and debt discount	2.7	2.9
Gain on sale of property, plant, and equipment	(3.1)	(2.2)
Deferred income taxes	(3.6)	12.5
Stock-based compensation expense	16.1	21.7
Other	8.9	0.8
Changes in operating assets and liabilities:
Trade accounts receivable, net	23.9	(317.4)
Inventories	176.1	(288.4)
Prepaid expenses and other current assets	3.8	(37.4)
Trade accounts payable	(84.7)	157.5
Other, net	(129.5)	(68.8)
Net cash provided (used) by operating activities	271.3	(86.2)
Investing activities:
Purchases of property, plant, and equipment	(72.1)	(64.8)
Purchases of businesses, net of cash acquired	(130.3)	(3.8)
Proceeds from sale of property, plant, and equipment	11.4	3.2
Other	(0.8)	0
Net cash used by investing activities	(191.8)	(65.4)
Financing activities:
Payments on long-term debt and finance lease obligations	(21.4)	(68)
Proceeds under revolving credit facilities	573.1	925.6
Payments under revolving credit facilities	(596.1)	(609.5)
Taxes paid related to net share settlements of stock-based compensation awards	(8.4)	(7.5)
Purchases of treasury stock	(2.5)	(104.6)
Stock option exercises	3.2	16
Other	1.2	2.7
Net cash (used) provided by financing activities	(50.9)	154.7
Effect of exchange rate changes on cash and cash equivalents	15.6	(19.8)
Net increase (decrease) in cash and cash equivalents	44.2	(16.7)
Cash and cash equivalents at beginning of period	385.3	251.5
Cash and cash equivalents at end of period	429.5	234.8
Cash paid during the period for:
Income taxes	67	120.3
Interest, net of capitalized interest	56.6	37.5
Non-cash activities:
Additions of property, plant, and equipment included in trade accounts payable and other accrued expenses	5.8	3
Additions of property, plant, and equipment under a finance lease obligation	26	9.3
Additions of assets under an operating lease obligation	$ 63.9	$ 42.1

Basis of presentation

Basis of presentation	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of presentation	1. Basis of presentation Financial statement presentation The unaudited interim condensed consolidated financial statements of Univar Solutions Inc. (the “Company,” “we,” “our,” and “us”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) have been condensed or omitted. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In the opinion of management, the unaudited interim condensed consolidated financial statements include all normal and recurring adjustments necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows for the periods presented. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for the full year. Certain immaterial prior period amounts have been reclassified to conform to the current period presentation. Agreement and Plan of Merger with Windsor Parent, L.P. and Windsor Merger Sub, Inc. On March 13, 2023, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Windsor Parent, L.P., a Delaware limited partnership (“Parent”), and Windsor Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Parent (“Merger Sub”). Parent and Merger Sub are affiliates of funds managed by affiliates of Apollo Global Management, Inc. (“Apollo”), an alternative asset manager, and Platinum Falcon B 2018 RSC Limited (“Platinum Falcon”), an indirect wholly owned subsidiary of the Abu Dhabi Investment Authority. The Merger Agreement provides that, among other things, and on the terms and subject to the conditions of the Merger Agreement, (i) Merger Sub will merge with and into the Company (the “Merger”), with the Company surviving the Merger as an indirect wholly owned subsidiary of Parent and (ii) at the effective time of the Merger (the “Effective Time”), each issued and outstanding share of the Company’s common stock (other than (a) certain shares owned by the Company as treasury stock or otherwise or by Parent or Merger Sub and certain shares owned by any direct or indirect wholly owned subsidiary of Parent (other than Merger Sub) or of the Company, (b) shares issued and outstanding immediately prior to the Effective Time which are held by stockholders who have properly demanded appraisal for such shares pursuant to Section 262 of the General Corporation Law of the State of Delaware and have complied with and have not waived, effectively withdrawn, or lost their right to appraisal under Delaware law with respect to such shares, and (c) shares covered by share awards granted subject to any time-based vesting, forfeiture, or other lapse restrictions), will be automatically converted into the right to receive $36.15 per share in cash, without interest. The Company’s Board of Directors has unanimously approved the Merger Agreement and the transactions contemplated thereby. On June 6, 2023, the Company's stockholders approved a proposal to adopt the Merger Agreement. The Company received approval by the Committee on Foreign Investment in the United States (“CFIUS”) on July 31, 2023. Assuming timely satisfaction of other necessary closing conditions, the transaction is expected to close as soon as August 1, 2023. If the Merger is consummated, the Company’s common stock will be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934 at or after the Effective Time. The Closing (as defined in the Merger Agreement) of the Merger is subject to the fulfillment or waiver of certain customary mutual closing conditions, including the receipt of certain other regulatory approvals, including other applicable antitrust and foreign investment reviews (which have been received), and the absence of any order, decree, or ruling by any other governmental entity in any jurisdiction in which Parent or the Company have material business operations and the absence of any law, statute, rule, regulation, decree, injunction, or order in any jurisdiction in which Parent or the Company have material business operations that prohibits or makes the consummation of the Merger illegal. The obligation of each party to consummate the Merger is also conditioned upon certain unilateral closing conditions, including the other party’s representations and warranties being accurate (subject to certain customary materiality exceptions) and the other party having performed in all material respects all obligations and complied in all material respects with its covenants in the Merger Agreement. The obligation of Parent to consummate the Merger is additionally conditioned upon the absence of a material adverse effect, as specified in the Merger Agreement, on the Company since the execution of the Merger Agreement. The availability of financing is not a condition to the consummation of the Merger. The Company has incurred, and will continue to incur, significant costs, expenses, and fees for professional services and other transaction costs in connection with the Merger. See “Note 5: Supplemental financial information” for additional information on Merger transaction costs. The Company is required to pay Parent a termination fee of $204.2 million in cash upon termination of the Merger Agreement under specified circumstances. The Merger Agreement also provides that a reverse termination fee of $379.2 million in cash will be payable by Parent to the Company under specified circumstances, including, among others, if (i) Parent fails to timely consummate the Merger following the completion of the Marketing Period (as defined in the Merger Agreement) after the satisfaction or waiver of certain closing conditions and the Company standing ready to consummate the Closing and (ii) Parent materially breaches its representations, warranties, covenants, or agreements under the Merger Agreement such that there is a failure of certain conditions to the Merger that is not timely cured. The Merger Agreement further provides that a regulatory termination fee of $291.7 million in cash will be payable by Parent to the Company under specified circumstances, including if (i) the Company or Parent terminates the Merger Agreement as of the End Date (as defined in the Merger Agreement) and all conditions to Closing have been satisfied other than regulatory-related conditions (including approval by CFIUS) or (ii) the Company or Parent terminates the Merger Agreement due to a final, non-appealable order enjoining or prohibiting the Merger that relates to an antitrust or foreign investment law. The foregoing summary of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is subject to and qualified in its entirety by the full text of the Merger Agreement. Recently adopted accounting pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2021-08 “Business Combinations” (Topic 805) – “Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” This ASU requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 (Revenue from Contracts with Customers). The Company adopted this guidance on a prospective basis effective January 1, 2023, which did not have a material impact on the consolidated financial statements. In September 2022, the FASB issued ASU 2022-04 “Liabilities – Supplier Finance Programs” (Subtopic 405-50) – “Disclosure of Supplier Finance Program Obligations” to enhance the transparency of disclosures regarding supplier finance programs. The ASU requires a buyer in a supplier finance program to disclose information about the program’s nature, activity during the period, changes from period to period, and potential magnitude. The standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023. Retrospective application of the guidance is required for all disclosures except rollforward information, which requires prospective application. The Company adopted the standard in the first quarter of 2023, which did not impact the consolidated financial statements and disclosures as the Company has not had significant activity under supplier finance programs.

Business combinations

Business combinations	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business combinations	2. Business combinations Kale Kimya On June 1, 2023, the Company acquired Kale Kimya, a leading regional specialty chemical distributor in Turkey, for total cash consideration of $119.7 million, net of cash acquired and subject to closing adjustments. Total consideration includes a holdback of $7.5 million that is expected to be paid, net of any closing adjustments, in the third quarter of 2023 and was recorded within other accrued expenses in the condensed consolidated balance sheets. Contingent consideration of up to €7 million was determined to have no acquisition date fair value as certain financial targets are not expected to be achieved. The transaction was accounted for under the acquisition method of accounting and the results of operations are included in the EMEA segment. The following table presents the preliminary purchase price allocation: (in millions) Cash and cash equivalents $ 0.4 Trade accounts receivable, net 24.2 Inventories 13.0 Prepaid expenses and other current assets 9.4 Goodwill 57.8 Intangible assets, net 41.5 Short-term financing (7.6) Trade accounts payable (9.5) Deferred tax liabilities (7.1) Other liabilities (2.0) Purchase consideration 120.1 Less: Cash and cash equivalents 0.4 Purchase consideration, net of cash $ 119.7 The preliminary purchase price allocation is subject to change as additional information about the fair values of assets and liabilities becomes available. The goodwill recognized is primarily attributable to synergies and the assembled workforce. The goodwill is included in the EMEA segment and is not deductible for income tax purposes. The identified intangible assets relate to customer relationships that will be amortized over a useful life of eight years. ChemSol Group On February 6, 2023, the Company acquired ChemSol Group, a leading ingredients and specialty chemical distributor in Central America, for cash consideration of $18.0 million, net of cash acquired of $1.7 million and subject to closing adjustments. Contingent consideration of up to $5.0 million was determined to have no acquisition date fair value as certain financial targets are not expected to be achieved. The transaction was accounted for under the acquisition method of accounting and the results of operations are included in the LATAM segment. The preliminary purchase price allocation included identified intangible assets related to customer relationships and trade names of $4.1 million and $0.9 million, respectively, and $3.2 million in goodwill, which is included in the LATAM segment and is not deductible for income tax purposes. Vicom Distribución Productos Quimicos, S.L . (“Vicom”) On July 29, 2022, the Company acquired all of the outstanding equity interests in Vicom, a leading regional specialty chemical distributor in Spain and Portugal, for cash consideration of $14.5 million. The transaction was accounted for under the acquisition method of accounting and the results of operations are included in the EMEA segment. The final purchase price allocation included $3.4 million in identified intangible assets related to customer relationships and $5.6 million in goodwill, which is included in the EMEA segment and is not deductible for income tax purposes.

Goodwill and intangible assets,

Goodwill and intangible assets, net	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets, net	3. Goodwill and intangible assets, net Goodwill The following is a summary of goodwill activity by segment: (in millions) USA EMEA Canada LATAM Total Balance as of December 31, 2022 $ 1,812.6 $ 12.6 $ 402.5 $ 60.5 $ 2,288.2 Acquisitions — 57.8 — 3.2 61.0 Foreign currency translation — 0.1 9.0 5.5 14.6 Balance as of June 30, 2023 $ 1,812.6 $ 70.5 $ 411.5 $ 69.2 $ 2,363.8 Intangible assets, net The gross carrying amounts and accumulated amortization of the Company's intangible assets were as follows: June 30, 2023 December 31, 2022 (in millions) Gross Accumulated amortization Net Gross Accumulated amortization Net Customer relationships $ 983.4 $ (793.2) $ 190.2 $ 929.6 $ (765.2) $ 164.4 Other 171.4 (168.6) 2.8 167.0 (164.4) 2.6 Total intangible assets $ 1,154.8 $ (961.8) $ 193.0 $ 1,096.6 $ (929.6) $ 167.0 Other intangible assets consist of intellectual property trademarks, trade names, producer relationships and contracts, non-compete agreements, and exclusive distribution rights. The estimated annual amortization expense in each of the next five years is as follows: (in millions) 2023 $ 46.4 2024 39.5 2025 35.6 2026 30.4 2027 24.8

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	4. Revenue The Company disaggregates revenues from contracts with customers by both geographic reportable segments and revenue contract types. Geographic reportable segmentation is pertinent to understanding the Company's revenues, as it aligns with how the Company reviews the financial performance of its operations. Revenue contract types are differentiated by the type of good or service the Company offers customers, since the contractual terms necessary for revenue recognition are unique to each of the identified revenue contract types. The following table disaggregates external customer net sales by major category: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 USA Chemical distribution $ 1,594.0 $ 1,900.2 $ 3,246.4 $ 3,677.3 Services 72.2 70.0 149.0 136.1 Total external customer net sales $ 1,666.2 $ 1,970.2 $ 3,395.4 $ 3,813.4 EMEA Chemical distribution $ 474.9 $ 547.1 $ 989.0 $ 1,109.3 Services — 0.1 — 0.1 Total external customer net sales $ 474.9 $ 547.2 $ 989.0 $ 1,109.4 Canada Chemical distribution $ 243.0 $ 298.2 $ 517.2 $ 591.6 Total external customer net sales $ 243.0 $ 298.2 $ 517.2 $ 591.6 LATAM Chemical distribution $ 182.9 $ 196.8 $ 348.1 $ 377.5 Services 7.1 4.2 9.3 7.3 Total external customer net sales $ 190.0 $ 201.0 $ 357.4 $ 384.8 Consolidated Chemical distribution $ 2,494.8 $ 2,942.3 $ 5,100.7 $ 5,755.7 Services 79.3 74.3 158.3 143.5 Total external customer net sales $ 2,574.1 $ 3,016.6 $ 5,259.0 $ 5,899.2 Deferred revenue Deferred revenues are recognized as contract liabilities when customers provide the Company with consideration prior to the Company satisfying its performance obligations and are recognized in revenue when the performance obligations are met. Deferred revenues relate to revenues that are expected to be recognized within one year and are recorded within other accrued expenses in the condensed consolidated balance sheets. Deferred revenues as of June 30, 2023 and December 31, 2022 were $5.9 million and $15.3 million, respectively. Revenue recognized for the six months ended June 30, 2023 and 2022 from amounts included in contract liabilities at the beginning of the respective periods was $12.9 million and $16.4 million, respectively.

Supplemental financial informat

Supplemental financial information	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Supplemental financial information	5. Supplemental financial information Other operating expenses, net Other operating expenses, net consisted of the following: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Acquisition and integration related expenses $ 0.9 $ — $ 1.1 $ — Stock-based compensation expense 5.5 7.8 16.1 21.7 Restructuring charges 2.1 — 2.9 — Gain on sale of property, plant, and equipment (2.6) (1.3) (3.1) (2.2) Merger transaction costs 5.8 — 19.6 — Other 0.8 (1.2) 1.3 1.5 Total other operating expenses, net $ 12.5 $ 5.3 $ 37.9 $ 21.0 Other (expense) income, net Other (expense) income, net consisted of the following: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Foreign currency loss, net $ (9.0) $ (4.4) $ (13.9) $ (3.9) Undesignated derivative instruments 1.5 3.5 1.6 8.5 Non-operating retirement (costs) benefits (0.9) 2.9 (1.9) 5.5 Other (0.7) 0.7 (1.3) 0.3 Total other (expense) income, net $ (9.1) $ 2.7 $ (15.5) $ 10.4 Cash and cash equivalents Certain of the Company’s subsidiaries participate in a multi-currency, notional cash pooling arrangement with a third-party bank provider to manage global liquidity requirements (the “Notional Cash Pool”). Under the Notional Cash Pool, cash deposited by participating subsidiaries is pledged as security against the overdraft balances of other participating subsidiaries, providing legal rights of offset. As a result, the balances are presented on a net basis within cash and cash equivalents in the condensed consolidated balance sheets. As of June 30, 2023, the net cash position of the Notional Cash Pool was $117.8 million, which consisted of a gross cash balance of $262.8 million less a bank overdraft balance of $145.0 million. As of December 31, 2022, the net cash position of the Notional Cash Pool was $52.9 million, which consisted of a gross cash balance of $69.8 million less a bank overdraft balance of $16.9 million. Allowance for doubtful accounts The allowance for doubtful accounts reflects the Company’s current estimate of credit losses expected to be incurred over the life of the trade accounts receivable. Collectability of the trade accounts receivable balance is assessed on an ongoing basis and determined based on the delinquency of customer accounts, the financial condition of individual customers, past collections experience, and future economic expectations. Changes in the allowance for doubtful accounts were as follows: (in millions) Balance as of December 31, 2022 $ 13.1 Provision for credit losses 2.2 Write-offs (1.5) Foreign exchange 0.5 Balance as of June 30, 2023 $ 14.3 Property, plant, and equipment, net (in millions) June 30, 2023 December 31, 2022 Property, plant, and equipment, at cost $ 2,391.3 $ 2,303.9 Less: accumulated depreciation (1,299.0) (1,248.9) Property, plant, and equipment, net $ 1,092.3 $ 1,055.0

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings per share	6. Earnings per share The following table presents the basic and diluted earnings per share computations: Three months ended June 30, Six months ended June 30, (in millions, except per share data) 2023 2022 2023 2022 Net income $ 87.8 $ 162.9 $ 170.9 $ 343.7 Weighted average common shares outstanding Basic 157.8 168.4 157.8 169.0 Effect of dilutive securities: stock compensation plans 1.7 1.3 1.8 1.5 Diluted 159.5 169.7 159.6 170.5 Income per common share Basic $ 0.56 $ 0.97 $ 1.08 $ 2.03 Diluted $ 0.55 $ 0.96 $ 1.07 $ 2.02 For the three and six months ended June 30, 2023 and 2022, weighted average common shares for stock-based compensation awards that were not included in the computation of diluted earnings per share because their inclusion would be anti-dilutive were less than 0.1 million. On November 1, 2022, the Company entered into an accelerated share repurchase agreement (“ASR”) with Goldman Sachs & Co. LLC (“Goldman”), which was accounted for as an open market repurchase of its common stock on the trade date and a forward contract indexed to its common stock. Refer to “Note 10: Share repurchase program and stock-based compensation” for additional information. The Company reflected the initial share delivery as an immediate reduction in common shares outstanding. The effect of the forward contract was excluded from the computation of diluted earnings per share until final settlement in February 2023 as its inclusion would have been anti-dilutive.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	7. Debt Short-term financing As of June 30, 2023, the Company had outstanding short-term financing facilities of $7.4 million. The Company had no outstanding balance as of December 31, 2022. The Company had $128.7 million and $127.7 million of outstanding letters of credit as of June 30, 2023 and December 31, 2022, respectively. Long-term debt Long-term debt consisted of the following: (in millions) June 30, 2023 December 31, 2022 Senior Term Loan Facilities: Term B-5 Loan due 2026, variable interest rate of 7.54% and 6.38% at June 30, 2023 and December 31, 2022, respectively $ 386.0 $ 388.0 Term B-6 Loan due 2028, variable interest rate of 7.29% and 6.13% at June 30, 2023 and December 31, 2022, respectively 980.0 985.0 Asset Backed Loan (“ABL”) Facilities: Senior ABL Credit Facility due 2027, variable interest rate of 6.52% and 5.59% at June 30, 2023 and December 31, 2022, respectively 330.0 353.0 Senior ABL Term Loan due 2027, variable interest rate of 6.71% and 6.17% at June 30, 2023 and December 31, 2022, respectively 200.0 200.0 Senior Unsecured Notes: Senior Unsecured Notes due 2027, fixed interest rate of 5.13% at June 30, 2023 and December 31, 2022 454.0 454.0 Finance lease obligations 116.9 104.3 Total long-term debt before unamortized debt issuance costs and discount 2,466.9 2,484.3 Less: unamortized debt issuance costs and discount on debt (16.5) (18.5) Total long-term debt 2,450.4 2,465.8 Less: current maturities (41.6) (38.9) Total long-term debt, excluding current maturities $ 2,408.8 $ 2,426.9 The weighted average interest rate on long-term debt, including the effect of designated and undesignated derivative instruments (refer to “Note 11: Derivatives” for more information), was 4.54% and 4.36% as of June 30, 2023 and December 31, 2022, respectively. Senior Unsecured Notes During the second quarter of 2022, the Company repaid $46.0 million of its Senior Unsecured Notes due 2027, resulting in a gain on extinguishment of debt of $1.5 million, which is included in other (expense) income, net in the condensed consolidated statements of operations. Other Information The fair values of debt were based on current market quotes for similar borrowings and credit risk adjusted for liquidity, margins, and amortization, as necessary, and are classified as Level 2 in the fair value hierarchy. June 30, 2023 December 31, 2022 (in millions) Carrying amount Fair value Carrying amount Fair value Total long-term debt $ 2,450.4 $ 2,476.6 $ 2,465.8 $ 2,459.3

Employee benefit plans

Employee benefit plans	6 Months Ended
	Jun. 30, 2023
Postemployment Benefits [Abstract]
Employee benefit plans	8. Employee benefit plans The following table summarizes the components of net periodic benefit cost (income) recognized in the condensed consolidated statements of operations related to defined benefit plans: Domestic Foreign Three months ended June 30, Six months ended June 30, Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Service cost (1) $ — $ — $ — $ — $ 0.2 $ 0.4 $ 0.5 $ 0.7 Interest cost (2) 6.3 5.1 12.5 10.3 4.1 2.7 8.0 5.6 Expected return on plan assets (2) (5.4) (7.6) (10.5) (15.2) (3.9) (2.8) (7.7) (5.8) Amortization of prior service credit (2) — — — — (0.2) (0.3) (0.4) (0.4) Net periodic benefit cost (income) $ 0.9 $ (2.5) $ 2.0 $ (4.9) $ 0.2 $ — $ 0.4 $ 0.1 (1) Service cost is included in warehousing, selling, and administrative expenses. (2) These amounts are included in other (expense) income, net and represent non-operating retirement costs (benefits). Multi-employer pension plan withdrawal liability During the year ended December 31, 2021, the Company recognized its best estimate of a withdrawal liability of $31.2 million related to triggering events at all eight sites of the Central States, Southeast, and Southwest Areas Pension Plan (“Central States Pension Fund”), culminating in the Company ceasing to participate in the Central States Pension Fund. Upon an agreed final funding assessment with the Central States Pension Fund, the Company will recognize any differences between the estimated and actual withdrawal liability. As of June 30, 2023, this balance has not been adjusted and represents the Company's best estimate of its withdrawal liability. The Company estimates its cash obligation to be approximately $1.9 million annually for 20 years subsequent to an agreed final funding assessment with the Central States Pension Fund. The net present value of the withdrawal liability was determined using a risk-free interest rate. Amounts associated with the withdrawal liability are included in other accrued expenses and other long-term liabilities in the condensed consolidated balance sheets.

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income taxes	9. Income taxes The income tax expense and effective income tax rate for the three and six months ended June 30, 2023 and 2022 were as follows: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Income tax expense $ 34.2 $ 58.6 $ 59.5 $ 123.3 Effective income tax rate 28.0 % 26.5 % 25.8 % 26.4 % The Company’s 2023 and 2022 effective income tax rates were higher than the US federal statutory rate of 21.0%, primarily due to higher rates on foreign earnings, US tax on foreign earnings, US state income taxes, and non-deductible employee costs. On August 16, 2022, the Inflation Reduction Act ("IRA") was enacted into US law. Effective for tax years beginning after December 31, 2022, the IRA imposes a 15% corporate minimum tax, a 1% excise tax on share repurchases, and creates and extends certain tax-related energy incentives. The tax-related provisions of the IRA do not have a material impact on the Company's consolidated financial statements.

Share repurchase program and st

Share repurchase program and stock-based compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share repurchase program and stock-based compensation	10. Share repurchase program and stock-based compensation Share repurchase program On November 1, 2021, the Company announced that its Board of Directors had authorized a share repurchase program of up to $500.0 million of its outstanding common stock, which expires on October 27, 2026. On November 1, 2022, the Company announced that its Board of Directors had approved an increase in the amount of authorized repurchases under the program of $1.0 billion, resulting in a total authorized repurchase amount of $1.5 billion. The program does not require the repurchase of any minimum number of shares and can be suspended, modified, or discontinued at any time at the Company’s discretion. Under the share repurchase program, the Company may purchase shares from time to time at the discretion of management through open market purchases, privately negotiated transactions, block trades, accelerated or other structured share repurchase programs, or other means. On November 1, 2022, the Company entered into an ASR with Goldman to repurchase $200.0 million of its common stock. On November 3, 2022, the Company paid $200.0 million to Goldman and received an initial delivery of approximately 5.8 million shares of its common stock, which represented 75% of the notional value of the ASR divided by the closing price of the Company’s common stock on November 1, 2022. The final number of shares repurchased under the ASR was based on the daily volume-weighted average prices for Rule 10b-18 eligible transactions in the Company’s common stock during the term of the ASR, less a discount and subject to adjustment pursuant to the terms of the ASR. At final settlement in February 2023, the Company received an additional delivery of approximately 0.5 million shares of its common stock from Goldman. As of December 31, 2022, the aggregate purchase price of the ASR was recorded as a reduction to stockholders’ equity, consisting of a $150.0 million increase in treasury stock to reflect the value of the initial share delivery and a $50.0 million decrease in additional paid-in capital pending final settlement of the ASR. The amount recorded in additional paid-in capital was reclassified to treasury stock in the first quarter of 2023 in connection with the final settlement of the ASR. In addition to the ASR, the Company repurchased on the open market approximately 0.1 million shares for $2.5 million during the six months ended June 30, 2023, approximately 2.8 million shares for $80.6 million during the three months ended June 30, 2022, and approximately 3.5 million shares for $104.6 million during the six months ended June 30, 2022. The Company did not repurchase any shares of its common stock during the three months ended June 30, 2023. The Company’s remaining stock repurchase authorization under the program was approximately $1,038.4 million as of June 30, 2023. While the Merger Agreement is in effect, the Company is prohibited from repurchasing shares of its common stock, except in limited circumstances detailed in the Merger Agreement. In this regard, the Company's ability to make repurchases pursuant to the share repurchase program is limited to an amount not to exceed $300.0 million per fiscal year. Stock-based compensation The Company grants stock-based compensation awards to employees and non-employee directors under the Univar Solutions Inc. 2020 Omnibus Incentive Plan. Most of the Company’s stock-based compensation awards to employees are granted in the first quarter of each year. During the six months ended June 30, 2023, the Company granted the following stock-based awards to employees: • 671,702 of restricted stock units (“RSUs”) with a weighted-average fair value of $34.69 per share; and • 245,600 of performance-based restricted stock units ("PRSUs") with a weighted-average fair value of $36.44 per share. As of June 30, 2023, the Company has unrecognized stock-based compensation expense related to non-vested RSUs of $23.0 million, which will be recognized over a weighted-average period of 1.3 years, and non-vested PRSUs of $8.8 million, which will be recognized over a weighted-average period of 1.3 years.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	11. Derivatives Foreign currency derivatives The Company uses forward currency contracts to hedge earnings from the effects of foreign exchange rates relating to certain of the Company’s intercompany and third-party receivables and payables denominated in foreign currencies. These derivative instruments are not formally designated as cash flow hedges by the Company and the terms of these instruments range from one Interest rate swap contracts The objective of the Company’s designated interest rate swap contracts is to offset the variability of cash flows in LIBOR and SOFR indexed debt interest payments attributable to changes in the benchmark interest rates related to the Term B-6 Loan (previously the Term B-3 Loan) and a portion of debt outstanding under the Senior ABL Credit Facility (previously the North American ABL Facility). In March 2023, the Company executed two interest rate swap contracts, both effective June 30, 2023, to reduce its exposure to interest rate risk on floating rate debt. These interest rate swap contracts contain an aggregate notional value of $400.0 million through June 2028. In June 2021, the Company executed two interest rate swap contracts, both effective June 30, 2023, to replace existing interest rate swap contracts with maturities occurring between June 2023 and June 2024. These interest rate swap contracts contain an initial aggregate notional value of $250.0 million from June 2023 to June 2024 that increases to an aggregate notional value of $500.0 million from June 2024 to May 2028. The Company also uses undesignated interest rate swap contracts to manage interest rate variability. Cross currency swap contracts Cross currency swap contracts are used to effectively convert the Term B-5 Loan’s principal amount of floating rate US dollar-denominated debt, including interest payments, to fixed-rate Euro-denominated debt. The cross currency swap contracts mature in November 2024 and approximately 95% of the contracts are designated as a cash flow hedge. The Company also uses undesignated cross currency swap contracts to manage interest rate variability and mitigate foreign exchange exposure. Notional amounts and fair value of derivative instruments The following table presents the notional amounts of the Company’s derivative instruments by type, excluding interest rate swap contracts that are not yet effective: (in millions) June 30, 2023 December 31, 2022 Designated Derivatives: Interest rate swap contracts $ 1,050.0 $ 650.0 Cross currency swap contracts 381.0 381.0 Undesignated Derivatives: Foreign currency derivatives $ 130.3 $ 149.2 Interest rate swap contracts 100.0 100.0 Cross currency swap contracts 19.0 19.0 The following table presents the pre-tax gains (losses) recognized in accumulated other comprehensive loss related to designated derivative instruments: Amount of gain (loss) recognized in accumulated other comprehensive loss Amount of gain to be reclassified to consolidated statement of operations within the next 12 months Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Effect of derivative instruments designated and qualifying as cash flow hedges: Interest rate swap contracts $ 28.2 $ 13.4 $ 18.8 $ 45.6 $ 26.9 Cross currency swap contracts 3.7 33.2 (0.3) 58.0 21.2 The following table presents the pre-tax effects of derivative instruments on the condensed consolidated statements of operations: Three Months Ended June 30, Six months ended June 30, 2023 2022 2023 2022 (in millions) Interest expense Other (expense) income, net Interest expense Other (expense) income, net Interest expense Other (expense) income, net Interest expense Other (expense) income, net Total amounts per Condensed Consolidated Statements of Operations $ (33.8) $ (9.1) $ (24.3) $ 2.7 $ (67.0) $ (15.5) $ (46.5) $ 10.4 Effect of derivative instruments designated and qualifying as cash flow hedges: Interest rate swap contracts $ 5.5 $ — $ (1.3) $ — $ 10.3 $ — $ (3.9) $ — Cross currency swap contracts 5.1 (2.5) 1.3 20.6 9.8 (7.3) 1.7 30.9 Effect of undesignated derivatives: Foreign currency derivatives $ — $ 0.7 $ — $ 1.0 $ — $ 1.0 $ — $ 1.9 Interest rate swap contracts — 0.6 — 0.8 — 0.6 — 3.7 Cross currency swap contracts — 0.2 — 1.7 — — — 2.9 The following table presents the Company’s gross assets and liabilities measured on a recurring basis and classified as Level 2 within the fair value hierarchy: Derivative Assets Derivative Liabilities (in millions) Balance Sheet Classification June 30, 2023 December 31, 2022 Balance Sheet Classification June 30, 2023 December 31, 2022 Designated Derivatives: Cross currency swap contracts Prepaid expenses and other current assets $ 21.2 $ 19.7 Other accrued expenses $ — $ — Cross currency swap contracts Other assets 24.7 35.4 Other long-term liabilities — — Interest rate swap contracts Prepaid expenses and other current assets 26.9 19.0 Other accrued expenses — — Interest rate swap contracts Other assets 35.9 35.2 Other long-term liabilities — — Total designated derivatives $ 108.7 $ 109.3 $ — $ — Undesignated Derivatives: Foreign currency contracts Prepaid expenses and other current assets $ — $ — Other accrued expenses $ 0.9 $ 0.9 Cross currency swap contracts Prepaid expenses and other current assets 1.1 1.0 Other accrued expenses — — Cross currency swap contracts Other assets 1.2 1.8 Other long-term liabilities — — Interest rate swap contracts Prepaid expenses and other current assets 2.5 2.7 Other accrued expenses — — Interest rate swap contracts Other assets — 0.5 Other long-term liabilities — — Total undesignated derivatives $ 4.8 $ 6.0 $ 0.9 $ 0.9 Total derivatives $ 113.5 $ 115.3 $ 0.9 $ 0.9 The fair value of forward currency contracts is calculated by reference to current forward exchange rates for contracts with similar maturity profiles. The fair value of interest rate and cross currency swaps is determined by estimating the net present value of amounts to be paid under the agreement offset by the net present value of the expected cash inflows based on market rates and associated yield curves. Based on these valuation methodologies, these derivative contracts are classified as Level 2 in the fair value hierarchy.

Accumulated other comprehensive

Accumulated other comprehensive loss	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Accumulated other comprehensive loss	12. Accumulated other comprehensive loss The following table presents the changes in accumulated other comprehensive loss by component, net of tax: (in millions) Cash flow hedges Defined benefit pension Currency translation Total Balance as of March 31, 2023 $ 58.7 $ 15.9 $ (411.0) $ (336.4) Other comprehensive income before reclassifications 23.9 — 32.7 56.6 Amounts reclassified from accumulated other comprehensive loss (6.2) (0.1) — (6.3) Net current period other comprehensive income (loss) 17.7 (0.1) 32.7 50.3 Balance as of June 30, 2023 $ 76.4 $ 15.8 $ (378.3) $ (286.1) Balance as of March 31, 2022 $ 25.6 $ 16.6 $ (351.4) $ (309.2) Other comprehensive income (loss) before reclassifications 34.5 — (55.3) (20.8) Amounts reclassified from accumulated other comprehensive loss (15.2) (0.2) — (15.4) Net current period other comprehensive income (loss) 19.3 (0.2) (55.3) (36.2) Balance as of June 30, 2022 $ 44.9 $ 16.4 $ (406.7) $ (345.4) Balance as of December 31, 2022 $ 72.2 $ 16.1 $ (433.0) $ (344.7) Other comprehensive income before reclassifications 13.9 — 54.7 68.6 Amounts reclassified from accumulated other comprehensive loss (9.7) (0.3) — (10.0) Net current period other comprehensive income (loss) 4.2 (0.3) 54.7 58.6 Balance as of June 30, 2023 $ 76.4 $ 15.8 $ (378.3) $ (286.1) Balance as of December 31, 2021 $ (10.8) $ 16.7 $ (368.6) $ (362.7) Other comprehensive income (loss) before reclassifications 77.0 — (38.1) 38.9 Amounts reclassified from accumulated other comprehensive loss (21.3) (0.3) — (21.6) Net current period other comprehensive income (loss) 55.7 (0.3) (38.1) 17.3 Balance as of June 30, 2022 $ 44.9 $ 16.4 $ (406.7) $ (345.4) The following table is a summary of the amounts reclassified from accumulated other comprehensive loss to net income: Statement of Operations Classification Three months ended June 30, Six months ended June 30, (in millions) 2023 (1) 2022 (1) 2023 (1) 2022 (1) Amortization of defined benefit pension items: Prior service credit Other (expense) income, net $ (0.2) $ (0.3) $ (0.4) $ (0.4) Tax expense Income tax expense 0.1 0.1 0.1 0.1 Net of tax (0.1) (0.2) (0.3) (0.3) Cash flow hedges: Interest rate swap contracts Interest expense (5.5) 1.3 (10.3) 3.9 Cross currency swap contracts Interest expense and other (expense) income, net (2.6) (21.9) (2.5) (32.6) Tax expense Income tax expense 1.9 5.4 3.1 7.4 Net of tax (6.2) (15.2) (9.7) (21.3) Total reclassifications for the period, net of tax $ (6.3) $ (15.4) $ (10.0) $ (21.6) (1) Amounts in parentheses represent income in the condensed consolidated statements of operations.

Commitments and contingencies

Commitments and contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	13. Commitments and contingencies Litigation In the ordinary course of business, the Company is subject to pending or threatened claims, lawsuits, regulatory matters, and administrative proceedings from time to time. Where appropriate the Company has recorded provisions in the consolidated financial statements for these matters. The liabilities for injuries to persons or property are in some instances covered by liability insurance, subject to various deductibles and self-insured retentions. Other than as disclosed, the Company is not aware of any claims, lawsuits, regulatory matters, or administrative proceedings, pending or threatened, that are likely to have a material effect on its overall financial position, results of operations, or cash flows. However, the Company cannot predict the outcome of any present or future claims or litigation or the potential for future claims or litigation and adverse developments could negatively impact earnings or cash flows in a particular future period. Asbestos Claims The Company is subject to liabilities from claims alleging personal injury from exposure to asbestos. The claims result primarily from an indemnification obligation related to Univar Solutions USA Inc.’s (“Univar”) 1986 purchase of McKesson Chemical Company from McKesson Corporation (“McKesson”). Univar is pursuing insurance coverage for certain matters under McKesson's historical insurance coverage to partially offset the impact of any fees, settlements, or judgments that Univar is obligated to pay because of its obligation to McKesson. As of June 30, 2023, there were approximately 260 asbestos-related cases for which Univar has the obligation to defend and indemnify; however, this number tends to fluctuate up and down over time. Historically, the vast majority of these asbestos cases have been dismissed without payment or with a nominal payment. While the Company is unable to predict the outcome of these matters, it does not believe, based upon currently available facts, that the ultimate resolution of any of these matters will have a material effect on its overall financial position, results of operations, or cash flows. Canada Revenue Agency In October 2022, the Company received notice from the Canada Revenue Agency ("CRA") proposing that certain historical financing transactions between one of the Company's Canadian subsidiaries (Univar Canada Ltd.) and one of the Company's US subsidiaries (Univar Holdco Canada LLC) should be recharacterized as equity and not debt for the 2015 and 2016 tax years. The CRA has proposed that certain deductions claimed by the Canadian entity should be denied, resulting in additional tax due, as well as interest and penalties on the unpaid tax. The proposed assessment against the Company, inclusive of interest and penalties of Canadian Dollar ("C$") 20.0 million, totals C$49.2 million. It is possible that the CRA might take a similar position in relation to two additional tax years (2017 and 2018), but the Company has not received a proposal in relation to those years. The transactions that are being challenged by the CRA for 2015 and 2016 do not apply in periods after 2018. The Company believes that the tax position previously taken was proper and it will defend itself as appropriate. The Company has not recorded any liabilities in its consolidated financial statements for this matter, as it believes it is more likely than not that the Company's position will be sustained. Stockholder Litigation In connection with the Merger Agreement, complaints were filed as individual actions in federal court, captioned O’Dell v. Univar Solutions Inc., et al. , No. 1:23-cv-03314 (S.D.N.Y., April 20, 2023); Wang v. Univar Solutions Inc., et al. , No. 1:23-cv-03370 (S.D.N.Y., April 21, 2023); Carlisle v. Univar Solutions Inc., et al., No. 1:23-cv-04131 (S.D.N.Y., May 18, 2023); and Jones v. Univar Solutions Inc., et al., No. 1:23-cv-00545-UNA (D. Del., May 18, 2023) (the "Federal Complaints"). In addition, one complaint was filed in Illinois state court in connection with the Merger Agreement, captioned Paul Berger Revocable Trust v. Braca, et al., No. 2023CH000094 (DuPage County Circuit Court, Chancery Division, Illinois, May 4, 2023) (the "State Complaint"). Finally, on April 25, 2023, May 1, 2023, May 2, 2023, May 19, 2023, May 22, 2023, May 23, 2023, May 25, 2023, and May 26, 2023, purported stockholders of the Company sent demand letters in connection with the Merger Agreement (the "Demands," and together with the Federal Complaints and the State Complaint, the "Shareholder Actions"). The Federal Complaints and Demands generally alleged that the preliminary proxy statement filed by the Company on April 13, 2023 in connection with the Merger Agreement (the “Preliminary Proxy Statement”), or the definitive proxy statement filed by the Company on May 2, 2023 (the "Definitive Proxy Statement"), misrepresent and/or omit certain purportedly material information, and assert violations of Section 14(a) and 20(a) of the Exchange Act and Rule 14a-9 promulgated thereunder by the Company and the members of its Board of Directors. The State Complaint generally alleged, in connection with the Preliminary Proxy Statement and/or the Definitive Proxy Statement, violations of the Illinois Securities Act of 1953 (815 ILCS 5/12), fraudulent misrepresentation and concealment under Illinois law, and negligent misrepresentation and concealment under Illinois law. The Shareholder Actions sought, among other things: to enjoin the consummation of the transactions contemplated by the Merger Agreement unless and until the purportedly material information omitted from the Preliminary Proxy Statement or Definitive Proxy Statement is disclosed; rescission or rescissory damages in the event the transactions contemplated by the Merger Agreement are consummated; a declaration of violation and/or wrongdoing; direction for an accounting to the plaintiffs for all damages suffered as a result of the purported wrongdoing; an award of costs and disbursements of the actions, including reasonable attorneys’ and expert fees and expenses; and any other relief the court may deem just and proper. As of June 16, 2023, all of the Federal Complaints and the State Complaint have been dismissed. Environmental The Company is subject to various federal, state, and local environmental laws and regulations that require environmental assessment or remediation efforts (collectively “environmental remediation work”) and from time to time the Company becomes aware of compliance matters regarding possible or alleged violations of these laws or regulations. For example, over the years, the Company has been identified as a “potentially responsible party” (“PRP”) under the Comprehensive Environmental Response, Compensation, and Liability Act and/or similar state laws that impose liability for costs relating to environmental remediation work at various sites. As a PRP, the Company may be required to pay a share of the costs of investigation and cleanup of certain sites. The Company is currently engaged in environmental remediation work at approximately 127 locations, some that are now or were previously Company-owned/occupied and some that were never Company-owned/occupied (“non-owned sites”). The Company’s environmental remediation work at some sites is being conducted pursuant to governmental proceedings or investigations. At other sites, the Company, with appropriate state or federal agency oversight and approval, is conducting the environmental remediation work voluntarily. The Company is currently undergoing remediation efforts or is in the process of active review of the need for potential remediation efforts at approximately 107 current or formerly Company-owned/occupied sites. In addition, the Company may be liable as a PRP for a share of the clean-up of approximately 20 non-owned sites. These non-owned sites are typically (a) locations of independent waste disposal or recycling operations with alleged or confirmed contaminated soil and/or groundwater to which the Company may have shipped waste products or drums for re-conditioning, or (b) contaminated non-owned sites near historical sites owned or operated by the Company or its predecessors from which contamination is alleged to have arisen. In determining the appropriate level of environmental liabilities, the Company considers several factors such as information obtained from investigatory studies; the scope of remediation (including any changes over time); the interpretation, application, and enforcement of laws and regulations; changes in the costs of remediation programs; the development of alternative cleanup technologies and methods; and the relative level of the Company’s involvement at various sites for which the Company is allegedly associated. The level of annual expenditures for remedial, monitoring, and investigatory activities will change in the future as major components of planned remediation activities are completed and the scope, timing, and costs of existing activities are changed. Project lives, and therefore cash flows, may range from 2 to 30 years, depending on the specific site and type of remediation project. Although the Company believes that its accruals are adequate for environmental contingencies, it is possible, due to the uncertainties noted above, that additional accruals could be required in the future that could have a material effect on the overall financial position, results of operations, or cash flows in a particular period. Changes in total environmental liabilities, which were measured on an undiscounted basis, were as follows: (in millions) Environmental liabilities as of December 31, 2022 $ 90.9 Revised obligation estimates 7.1 Payments (12.7) Environmental liabilities as of June 30, 2023 $ 85.3 (in millions) Balance Sheet Classification June 30, 2023 December 31, 2022 Current environmental liabilities Other accrued expenses $ 27.5 $ 36.5 Long-term environmental liabilities Other long-term liabilities 57.8 54.4 As of June 30, 2023, receivables for insurance recoveries of $6.4 million and $7.0 million were recorded within prepaid expenses and other current assets and other assets, respectively, in the condensed consolidated balance sheets. As of December 31, 2022, receivables for insurance recoveries of $6.7 million and $9.3 million were recorded within prepaid expenses and other current assets and other assets, respectively, in the condensed consolidated balance sheets. No insurance recoveries were recorded in the condensed consolidated statements of operations for the three and six months ended June 30, 2023. Insurance recoveries of $9.2 million were recorded within warehousing, selling, and administrative expenses in the condensed consolidated statements of operations for the three and six months ended June 30, 2022.

Segments

Segments	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segments	14. Segments The Company’s operations are structured into four reportable segments that represent the geographic areas under which it operates and manages the business. Management, including the Chief Operating Decision Maker, monitors the operating results of its reportable segments separately for the purpose of making decisions about resource allocation and performance assessment. Management evaluates performance of its reportable segments on the basis of Adjusted EBITDA. Adjusted EBITDA is defined as the sum of consolidated net income; depreciation; amortization; net interest expense; income tax expense; impairment charges; (gain) loss on sale of business; other operating expenses, net and other (expense) income, net (for both, see “Note 5: Supplemental financial information”). Transfer prices between reportable segments are set on an arms-length basis in a similar manner to transactions with third parties. Corporate operating expenses that directly benefit segments have been allocated to the reportable segments. Allocable operating expenses are identified through a review process by management. The allocable operating expenses are assigned to the reportable segments on a basis that reasonably approximates the use of services, which is generally measured based on a weighted distribution of margin, asset, headcount, or time spent. Financial information for the Company’s reportable segments was as follows: (in millions) USA EMEA Canada LATAM Other/ Eliminations (1) Consolidated Net sales Three months ended June 30, 2023 External customers $ 1,666.2 $ 474.9 $ 243.0 $ 190.0 $ — $ 2,574.1 Inter-segment 29.2 1.1 1.3 0.1 (31.7) — Net sales $ 1,695.4 $ 476.0 $ 244.3 $ 190.1 $ (31.7) $ 2,574.1 Three months ended June 30, 2022 External customers $ 1,970.2 $ 547.2 $ 298.2 $ 201.0 $ — $ 3,016.6 Inter-segment 43.8 3.0 2.5 0.1 (49.4) — Net sales $ 2,014.0 $ 550.2 $ 300.7 $ 201.1 $ (49.4) $ 3,016.6 Six months ended June 30, 2023 External customers $ 3,395.4 $ 989.0 $ 517.2 $ 357.4 $ — $ 5,259.0 Inter-segment 55.7 1.7 2.9 0.1 (60.4) — Net sales $ 3,451.1 $ 990.7 $ 520.1 $ 357.5 $ (60.4) $ 5,259.0 Six months ended June 30, 2022 External customers $ 3,813.4 $ 1,109.4 $ 591.6 $ 384.8 $ — $ 5,899.2 Inter-segment 72.3 3.7 4.3 0.1 (80.4) — Net sales $ 3,885.7 $ 1,113.1 $ 595.9 $ 384.9 $ (80.4) $ 5,899.2 (1) Other/Eliminations represents the elimination of intersegment transactions. Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Adjusted EBITDA USA $ 156.5 $ 198.6 $ 302.3 $ 407.8 EMEA 31.3 50.4 75.6 114.2 Canada 24.1 32.0 49.5 68.7 LATAM 13.0 16.2 22.9 32.4 Other/Eliminations (1) (3.5) (5.6) (13.5) (12.2) Consolidated $ 221.4 $ 291.6 $ 436.8 $ 610.9 (1) Other/Eliminations represents unallocated corporate costs consisting of items specifically related to parent company operations that do not directly benefit segments, either individually or collectively. The following table is a reconciliation of net income to Adjusted EBITDA for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Net income $ 87.8 $ 162.9 $ 170.9 $ 343.7 Depreciation 33.9 32.2 66.3 65.1 Amortization 11.9 12.0 23.1 23.8 Interest expense, net 31.8 23.3 63.2 44.4 Income tax expense 34.2 58.6 59.5 123.3 EBITDA 199.6 289.0 383.0 600.3 Other operating expenses, net 12.5 5.3 37.9 21.0 Other expense (income), net 9.1 (2.7) 15.5 (10.4) Impairment charges 0.2 — 0.4 — Adjusted EBITDA $ 221.4 $ 291.6 $ 436.8 $ 610.9

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent events	15. Subsequent events Termination of interest rate and cross currency swap contracts In July 2023, the Company elected to terminate seven interest rate swap contracts and all of its cross currency swap contracts. Upon termination, the Company received $52.6 million for interest rate swap contracts with an aggregate notional value of $750.0 million as of June 30, 2023 and $36.9 million for cross currency swap contracts with an aggregate notional value of $400.0 million. Amounts relating to these terminated derivatives recorded in accumulated other comprehensive loss in the condensed consolidated balance sheets will be amortized to earnings over the remaining lives of the original contracts, which were scheduled to expire between March 2024 and May 2028. The Company has two remaining interest rate swap contracts with an aggregate notional value of $400.0 million through June 2028, which were designated to the Term B-6 Loan. Notice of redemption for Senior Unsecured Notes On July 21, 2023, the Company provided notice to U.S. Bank National Association (in such capacity, the “Trustee”) under that certain Indenture, dated as of November 22, 2019 (as amended, supplemented or otherwise modified from time to time, including by that certain First Supplemental Indenture, dated as of November 22, 2019, the “Indenture”), among Univar Solutions USA Inc. (the “Issuer”), the Company, the subsidiary guarantors from time to time party thereto, and the Trustee, relating to the Issuer’s 5.125% Senior Notes due 2027 (the “Notes”), that on August 1, 2023 (the “Redemption Date”), subject to and conditioned upon the closing of the Merger (such condition, the “Condition”), the Company intends to redeem all $454.0 million in aggregate principal amount of the Notes at a redemption price of 102.563% of the principal amount thereof, plus accrued and unpaid interest, in accordance with the terms of the Indenture. At the Company’s discretion, the Redemption Date may be delayed until such time as the Condition is satisfied (or waived by the Company in its sole discretion). The Company may rescind the notice of redemption in its sole discretion if the Condition is not satisfied.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income	$ 87.8	$ 162.9	$ 170.9	$ 343.7

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
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

Basis of presentation (Policies

Basis of presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Financial statement presentation	Financial statement presentation The unaudited interim condensed consolidated financial statements of Univar Solutions Inc. (the “Company,” “we,” “our,” and “us”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) have been condensed or omitted. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2021-08 “Business Combinations” (Topic 805) – “Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” This ASU requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 (Revenue from Contracts with Customers). The Company adopted this guidance on a prospective basis effective January 1, 2023, which did not have a material impact on the consolidated financial statements. In September 2022, the FASB issued ASU 2022-04 “Liabilities – Supplier Finance Programs” (Subtopic 405-50) – “Disclosure of Supplier Finance Program Obligations” to enhance the transparency of disclosures regarding supplier finance programs. The ASU requires a buyer in a supplier finance program to disclose information about the program’s nature, activity during the period, changes from period to period, and potential magnitude. The standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023. Retrospective application of the guidance is required for all disclosures except rollforward information, which requires prospective application. The Company adopted the standard in the first quarter of 2023, which did not impact the consolidated financial statements and disclosures as the Company has not had significant activity under supplier finance programs.

Business combinations (Tables)

Business combinations (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of preliminary purchase price allocation	The following table presents the preliminary purchase price allocation: (in millions) Cash and cash equivalents $ 0.4 Trade accounts receivable, net 24.2 Inventories 13.0 Prepaid expenses and other current assets 9.4 Goodwill 57.8 Intangible assets, net 41.5 Short-term financing (7.6) Trade accounts payable (9.5) Deferred tax liabilities (7.1) Other liabilities (2.0) Purchase consideration 120.1 Less: Cash and cash equivalents 0.4 Purchase consideration, net of cash $ 119.7

Goodwill and intangible asset_2

Goodwill and intangible assets, net (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The following is a summary of goodwill activity by segment: (in millions) USA EMEA Canada LATAM Total Balance as of December 31, 2022 $ 1,812.6 $ 12.6 $ 402.5 $ 60.5 $ 2,288.2 Acquisitions — 57.8 — 3.2 61.0 Foreign currency translation — 0.1 9.0 5.5 14.6 Balance as of June 30, 2023 $ 1,812.6 $ 70.5 $ 411.5 $ 69.2 $ 2,363.8
Schedule of intangible assets, net	The gross carrying amounts and accumulated amortization of the Company's intangible assets were as follows: June 30, 2023 December 31, 2022 (in millions) Gross Accumulated amortization Net Gross Accumulated amortization Net Customer relationships $ 983.4 $ (793.2) $ 190.2 $ 929.6 $ (765.2) $ 164.4 Other 171.4 (168.6) 2.8 167.0 (164.4) 2.6 Total intangible assets $ 1,154.8 $ (961.8) $ 193.0 $ 1,096.6 $ (929.6) $ 167.0
Schedule of finite-lived intangible assets, future amortization expense	The estimated annual amortization expense in each of the next five years is as follows: (in millions) 2023 $ 46.4 2024 39.5 2025 35.6 2026 30.4 2027 24.8

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	The following table disaggregates external customer net sales by major category: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 USA Chemical distribution $ 1,594.0 $ 1,900.2 $ 3,246.4 $ 3,677.3 Services 72.2 70.0 149.0 136.1 Total external customer net sales $ 1,666.2 $ 1,970.2 $ 3,395.4 $ 3,813.4 EMEA Chemical distribution $ 474.9 $ 547.1 $ 989.0 $ 1,109.3 Services — 0.1 — 0.1 Total external customer net sales $ 474.9 $ 547.2 $ 989.0 $ 1,109.4 Canada Chemical distribution $ 243.0 $ 298.2 $ 517.2 $ 591.6 Total external customer net sales $ 243.0 $ 298.2 $ 517.2 $ 591.6 LATAM Chemical distribution $ 182.9 $ 196.8 $ 348.1 $ 377.5 Services 7.1 4.2 9.3 7.3 Total external customer net sales $ 190.0 $ 201.0 $ 357.4 $ 384.8 Consolidated Chemical distribution $ 2,494.8 $ 2,942.3 $ 5,100.7 $ 5,755.7 Services 79.3 74.3 158.3 143.5 Total external customer net sales $ 2,574.1 $ 3,016.6 $ 5,259.0 $ 5,899.2

Supplemental financial inform_2

Supplemental financial information (Tables)	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Schedule of other operating expenses	Other operating expenses, net consisted of the following: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Acquisition and integration related expenses $ 0.9 $ — $ 1.1 $ — Stock-based compensation expense 5.5 7.8 16.1 21.7 Restructuring charges 2.1 — 2.9 — Gain on sale of property, plant, and equipment (2.6) (1.3) (3.1) (2.2) Merger transaction costs 5.8 — 19.6 — Other 0.8 (1.2) 1.3 1.5 Total other operating expenses, net $ 12.5 $ 5.3 $ 37.9 $ 21.0
Schedule of other income (expense), net	Other (expense) income, net consisted of the following: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Foreign currency loss, net $ (9.0) $ (4.4) $ (13.9) $ (3.9) Undesignated derivative instruments 1.5 3.5 1.6 8.5 Non-operating retirement (costs) benefits (0.9) 2.9 (1.9) 5.5 Other (0.7) 0.7 (1.3) 0.3 Total other (expense) income, net $ (9.1) $ 2.7 $ (15.5) $ 10.4
Schedule of allowance for doubtful accounts	Changes in the allowance for doubtful accounts were as follows: (in millions) Balance as of December 31, 2022 $ 13.1 Provision for credit losses 2.2 Write-offs (1.5) Foreign exchange 0.5 Balance as of June 30, 2023 $ 14.3
Schedule of property, plant and equipment, net	Property, plant, and equipment, net (in millions) June 30, 2023 December 31, 2022 Property, plant, and equipment, at cost $ 2,391.3 $ 2,303.9 Less: accumulated depreciation (1,299.0) (1,248.9) Property, plant, and equipment, net $ 1,092.3 $ 1,055.0

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of computations of basic and diluted earnings per share	The following table presents the basic and diluted earnings per share computations: Three months ended June 30, Six months ended June 30, (in millions, except per share data) 2023 2022 2023 2022 Net income $ 87.8 $ 162.9 $ 170.9 $ 343.7 Weighted average common shares outstanding Basic 157.8 168.4 157.8 169.0 Effect of dilutive securities: stock compensation plans 1.7 1.3 1.8 1.5 Diluted 159.5 169.7 159.6 170.5 Income per common share Basic $ 0.56 $ 0.97 $ 1.08 $ 2.03 Diluted $ 0.55 $ 0.96 $ 1.07 $ 2.02

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of long term debt	Long-term debt consisted of the following: (in millions) June 30, 2023 December 31, 2022 Senior Term Loan Facilities: Term B-5 Loan due 2026, variable interest rate of 7.54% and 6.38% at June 30, 2023 and December 31, 2022, respectively $ 386.0 $ 388.0 Term B-6 Loan due 2028, variable interest rate of 7.29% and 6.13% at June 30, 2023 and December 31, 2022, respectively 980.0 985.0 Asset Backed Loan (“ABL”) Facilities: Senior ABL Credit Facility due 2027, variable interest rate of 6.52% and 5.59% at June 30, 2023 and December 31, 2022, respectively 330.0 353.0 Senior ABL Term Loan due 2027, variable interest rate of 6.71% and 6.17% at June 30, 2023 and December 31, 2022, respectively 200.0 200.0 Senior Unsecured Notes: Senior Unsecured Notes due 2027, fixed interest rate of 5.13% at June 30, 2023 and December 31, 2022 454.0 454.0 Finance lease obligations 116.9 104.3 Total long-term debt before unamortized debt issuance costs and discount 2,466.9 2,484.3 Less: unamortized debt issuance costs and discount on debt (16.5) (18.5) Total long-term debt 2,450.4 2,465.8 Less: current maturities (41.6) (38.9) Total long-term debt, excluding current maturities $ 2,408.8 $ 2,426.9
Schedule of carrying values and estimated fair values of debt instruments	The fair values of debt were based on current market quotes for similar borrowings and credit risk adjusted for liquidity, margins, and amortization, as necessary, and are classified as Level 2 in the fair value hierarchy. June 30, 2023 December 31, 2022 (in millions) Carrying amount Fair value Carrying amount Fair value Total long-term debt $ 2,450.4 $ 2,476.6 $ 2,465.8 $ 2,459.3

Employee benefit plans (Tables)

Employee benefit plans (Tables)	6 Months Ended
	Jun. 30, 2023
Postemployment Benefits [Abstract]
Summary of net periodic benefit income	The following table summarizes the components of net periodic benefit cost (income) recognized in the condensed consolidated statements of operations related to defined benefit plans: Domestic Foreign Three months ended June 30, Six months ended June 30, Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Service cost (1) $ — $ — $ — $ — $ 0.2 $ 0.4 $ 0.5 $ 0.7 Interest cost (2) 6.3 5.1 12.5 10.3 4.1 2.7 8.0 5.6 Expected return on plan assets (2) (5.4) (7.6) (10.5) (15.2) (3.9) (2.8) (7.7) (5.8) Amortization of prior service credit (2) — — — — (0.2) (0.3) (0.4) (0.4) Net periodic benefit cost (income) $ 0.9 $ (2.5) $ 2.0 $ (4.9) $ 0.2 $ — $ 0.4 $ 0.1 (1) Service cost is included in warehousing, selling, and administrative expenses. (2) These amounts are included in other (expense) income, net and represent non-operating retirement costs (benefits).

Income taxes (Tables)

Income taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of effective income tax expense and effective income tax rate	The income tax expense and effective income tax rate for the three and six months ended June 30, 2023 and 2022 were as follows: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Income tax expense $ 34.2 $ 58.6 $ 59.5 $ 123.3 Effective income tax rate 28.0 % 26.5 % 25.8 % 26.4 %

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of notional amounts of outstanding derivative positions	The following table presents the notional amounts of the Company’s derivative instruments by type, excluding interest rate swap contracts that are not yet effective: (in millions) June 30, 2023 December 31, 2022 Designated Derivatives: Interest rate swap contracts $ 1,050.0 $ 650.0 Cross currency swap contracts 381.0 381.0 Undesignated Derivatives: Foreign currency derivatives $ 130.3 $ 149.2 Interest rate swap contracts 100.0 100.0 Cross currency swap contracts 19.0 19.0
Schedule of cash flow hedges included in accumulated other comprehensive income (loss)	The following table presents the pre-tax gains (losses) recognized in accumulated other comprehensive loss related to designated derivative instruments: Amount of gain (loss) recognized in accumulated other comprehensive loss Amount of gain to be reclassified to consolidated statement of operations within the next 12 months Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Effect of derivative instruments designated and qualifying as cash flow hedges: Interest rate swap contracts $ 28.2 $ 13.4 $ 18.8 $ 45.6 $ 26.9 Cross currency swap contracts 3.7 33.2 (0.3) 58.0 21.2
Schedule of pre-tax effects of derivative instruments	The following table presents the pre-tax effects of derivative instruments on the condensed consolidated statements of operations: Three Months Ended June 30, Six months ended June 30, 2023 2022 2023 2022 (in millions) Interest expense Other (expense) income, net Interest expense Other (expense) income, net Interest expense Other (expense) income, net Interest expense Other (expense) income, net Total amounts per Condensed Consolidated Statements of Operations $ (33.8) $ (9.1) $ (24.3) $ 2.7 $ (67.0) $ (15.5) $ (46.5) $ 10.4 Effect of derivative instruments designated and qualifying as cash flow hedges: Interest rate swap contracts $ 5.5 $ — $ (1.3) $ — $ 10.3 $ — $ (3.9) $ — Cross currency swap contracts 5.1 (2.5) 1.3 20.6 9.8 (7.3) 1.7 30.9 Effect of undesignated derivatives: Foreign currency derivatives $ — $ 0.7 $ — $ 1.0 $ — $ 1.0 $ — $ 1.9 Interest rate swap contracts — 0.6 — 0.8 — 0.6 — 3.7 Cross currency swap contracts — 0.2 — 1.7 — — — 2.9
Schedule of gross assets and liabilities measured on a recurring basis and classified as level 2	The following table presents the Company’s gross assets and liabilities measured on a recurring basis and classified as Level 2 within the fair value hierarchy: Derivative Assets Derivative Liabilities (in millions) Balance Sheet Classification June 30, 2023 December 31, 2022 Balance Sheet Classification June 30, 2023 December 31, 2022 Designated Derivatives: Cross currency swap contracts Prepaid expenses and other current assets $ 21.2 $ 19.7 Other accrued expenses $ — $ — Cross currency swap contracts Other assets 24.7 35.4 Other long-term liabilities — — Interest rate swap contracts Prepaid expenses and other current assets 26.9 19.0 Other accrued expenses — — Interest rate swap contracts Other assets 35.9 35.2 Other long-term liabilities — — Total designated derivatives $ 108.7 $ 109.3 $ — $ — Undesignated Derivatives: Foreign currency contracts Prepaid expenses and other current assets $ — $ — Other accrued expenses $ 0.9 $ 0.9 Cross currency swap contracts Prepaid expenses and other current assets 1.1 1.0 Other accrued expenses — — Cross currency swap contracts Other assets 1.2 1.8 Other long-term liabilities — — Interest rate swap contracts Prepaid expenses and other current assets 2.5 2.7 Other accrued expenses — — Interest rate swap contracts Other assets — 0.5 Other long-term liabilities — — Total undesignated derivatives $ 4.8 $ 6.0 $ 0.9 $ 0.9 Total derivatives $ 113.5 $ 115.3 $ 0.9 $ 0.9

Accumulated other comprehensi_2

Accumulated other comprehensive loss (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of changes in accumulated other comprehensive loss by component, net of tax	The following table presents the changes in accumulated other comprehensive loss by component, net of tax: (in millions) Cash flow hedges Defined benefit pension Currency translation Total Balance as of March 31, 2023 $ 58.7 $ 15.9 $ (411.0) $ (336.4) Other comprehensive income before reclassifications 23.9 — 32.7 56.6 Amounts reclassified from accumulated other comprehensive loss (6.2) (0.1) — (6.3) Net current period other comprehensive income (loss) 17.7 (0.1) 32.7 50.3 Balance as of June 30, 2023 $ 76.4 $ 15.8 $ (378.3) $ (286.1) Balance as of March 31, 2022 $ 25.6 $ 16.6 $ (351.4) $ (309.2) Other comprehensive income (loss) before reclassifications 34.5 — (55.3) (20.8) Amounts reclassified from accumulated other comprehensive loss (15.2) (0.2) — (15.4) Net current period other comprehensive income (loss) 19.3 (0.2) (55.3) (36.2) Balance as of June 30, 2022 $ 44.9 $ 16.4 $ (406.7) $ (345.4) Balance as of December 31, 2022 $ 72.2 $ 16.1 $ (433.0) $ (344.7) Other comprehensive income before reclassifications 13.9 — 54.7 68.6 Amounts reclassified from accumulated other comprehensive loss (9.7) (0.3) — (10.0) Net current period other comprehensive income (loss) 4.2 (0.3) 54.7 58.6 Balance as of June 30, 2023 $ 76.4 $ 15.8 $ (378.3) $ (286.1) Balance as of December 31, 2021 $ (10.8) $ 16.7 $ (368.6) $ (362.7) Other comprehensive income (loss) before reclassifications 77.0 — (38.1) 38.9 Amounts reclassified from accumulated other comprehensive loss (21.3) (0.3) — (21.6) Net current period other comprehensive income (loss) 55.7 (0.3) (38.1) 17.3 Balance as of June 30, 2022 $ 44.9 $ 16.4 $ (406.7) $ (345.4)
Schedule of amounts reclassified from accumulated other comprehensive loss to net income	The following table is a summary of the amounts reclassified from accumulated other comprehensive loss to net income: Statement of Operations Classification Three months ended June 30, Six months ended June 30, (in millions) 2023 (1) 2022 (1) 2023 (1) 2022 (1) Amortization of defined benefit pension items: Prior service credit Other (expense) income, net $ (0.2) $ (0.3) $ (0.4) $ (0.4) Tax expense Income tax expense 0.1 0.1 0.1 0.1 Net of tax (0.1) (0.2) (0.3) (0.3) Cash flow hedges: Interest rate swap contracts Interest expense (5.5) 1.3 (10.3) 3.9 Cross currency swap contracts Interest expense and other (expense) income, net (2.6) (21.9) (2.5) (32.6) Tax expense Income tax expense 1.9 5.4 3.1 7.4 Net of tax (6.2) (15.2) (9.7) (21.3) Total reclassifications for the period, net of tax $ (6.3) $ (15.4) $ (10.0) $ (21.6) (1) Amounts in parentheses represent income in the condensed consolidated statements of operations.

Commitments and contingencies (

Commitments and contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of changes in total environmental liabilities	Changes in total environmental liabilities, which were measured on an undiscounted basis, were as follows: (in millions) Environmental liabilities as of December 31, 2022 $ 90.9 Revised obligation estimates 7.1 Payments (12.7) Environmental liabilities as of June 30, 2023 $ 85.3
Schedule of environmental liabilities	(in millions) Balance Sheet Classification June 30, 2023 December 31, 2022 Current environmental liabilities Other accrued expenses $ 27.5 $ 36.5 Long-term environmental liabilities Other long-term liabilities 57.8 54.4

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Financial information for the Company's segments	Financial information for the Company’s reportable segments was as follows: (in millions) USA EMEA Canada LATAM Other/ Eliminations (1) Consolidated Net sales Three months ended June 30, 2023 External customers $ 1,666.2 $ 474.9 $ 243.0 $ 190.0 $ — $ 2,574.1 Inter-segment 29.2 1.1 1.3 0.1 (31.7) — Net sales $ 1,695.4 $ 476.0 $ 244.3 $ 190.1 $ (31.7) $ 2,574.1 Three months ended June 30, 2022 External customers $ 1,970.2 $ 547.2 $ 298.2 $ 201.0 $ — $ 3,016.6 Inter-segment 43.8 3.0 2.5 0.1 (49.4) — Net sales $ 2,014.0 $ 550.2 $ 300.7 $ 201.1 $ (49.4) $ 3,016.6 Six months ended June 30, 2023 External customers $ 3,395.4 $ 989.0 $ 517.2 $ 357.4 $ — $ 5,259.0 Inter-segment 55.7 1.7 2.9 0.1 (60.4) — Net sales $ 3,451.1 $ 990.7 $ 520.1 $ 357.5 $ (60.4) $ 5,259.0 Six months ended June 30, 2022 External customers $ 3,813.4 $ 1,109.4 $ 591.6 $ 384.8 $ — $ 5,899.2 Inter-segment 72.3 3.7 4.3 0.1 (80.4) — Net sales $ 3,885.7 $ 1,113.1 $ 595.9 $ 384.9 $ (80.4) $ 5,899.2 (1) Other/Eliminations represents the elimination of intersegment transactions. Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Adjusted EBITDA USA $ 156.5 $ 198.6 $ 302.3 $ 407.8 EMEA 31.3 50.4 75.6 114.2 Canada 24.1 32.0 49.5 68.7 LATAM 13.0 16.2 22.9 32.4 Other/Eliminations (1) (3.5) (5.6) (13.5) (12.2) Consolidated $ 221.4 $ 291.6 $ 436.8 $ 610.9 (1) Other/Eliminations represents unallocated corporate costs consisting of items specifically related to parent company operations that do not directly benefit segments, either individually or collectively.
Schedule of Reconciliation of net income (loss) to adjusted EBITDA	The following table is a reconciliation of net income to Adjusted EBITDA for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Net income $ 87.8 $ 162.9 $ 170.9 $ 343.7 Depreciation 33.9 32.2 66.3 65.1 Amortization 11.9 12.0 23.1 23.8 Interest expense, net 31.8 23.3 63.2 44.4 Income tax expense 34.2 58.6 59.5 123.3 EBITDA 199.6 289.0 383.0 600.3 Other operating expenses, net 12.5 5.3 37.9 21.0 Other expense (income), net 9.1 (2.7) 15.5 (10.4) Impairment charges 0.2 — 0.4 — Adjusted EBITDA $ 221.4 $ 291.6 $ 436.8 $ 610.9

Basis of presentation (Details)

Basis of presentation (Details) - Windsor Parent, L.P. and Windsor Merger Sub, Inc $ / shares in Units, $ in Millions	Mar. 13, 2023 USD ($) $ / shares
Business Acquisition [Line Items]
Right to receive cash per share (in dollars per share) | $ / shares	$ 36.15
Windsor Parent, L.P
Business Acquisition [Line Items]
Termination fee	$ 204.2
Reverse termination fee	379.2
Regulatory termination fee	$ 291.7

Business combinations - Narrati

Business combinations - Narrative (Details) € in Millions, $ in Millions	Jun. 01, 2023 USD ($)	Feb. 06, 2023 USD ($)	Jul. 29, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 01, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Goodwill				$ 2,363.8		$ 2,288.2
Kale Kimya
Business Acquisition [Line Items]
Cash consideration	$ 119.7
Liabilities incurred	7.5
Contingent consideration component | €					€ 7
Intangible assets, net	41.5
Goodwill	$ 57.8
Kale Kimya | Customer relationships
Business Acquisition [Line Items]
Weighted average period of amortization on intangible assets	8 years
ChemSol Group Acquisition
Business Acquisition [Line Items]
Cash consideration		$ 18
Contingent consideration component		5
Cash acquired from acquisition		1.7
Goodwill		3.2
ChemSol Group Acquisition | Customer relationships
Business Acquisition [Line Items]
Intangible assets, net		4.1
ChemSol Group Acquisition | Trade names
Business Acquisition [Line Items]
Intangible assets, net		$ 0.9
Vicom Distribución Productos Quimicos, S.L.
Business Acquisition [Line Items]
Cash consideration			$ 14.5
Intangible assets, net			3.4
Goodwill			$ 5.6

Business combinations - Summary

Business combinations - Summary of Purchase Price Allocation for Acquisition (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 01, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 2,363.8		$ 2,288.2
Kale Kimya
Business Acquisition [Line Items]
Cash and cash equivalents		$ 0.4
Trade accounts receivable, net		24.2
Inventories		13
Prepaid expenses and other current assets		9.4
Goodwill		57.8
Intangible assets, net		41.5
Short-term financing		(7.6)
Trade accounts payable		(9.5)
Deferred tax liabilities		(7.1)
Other liabilities		(2)
Purchase consideration		120.1
Purchase consideration, net of cash		$ 119.7

Goodwill and intangible asset_3

Goodwill and intangible assets, net - Summary of the Activity in Goodwill by Segment (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,288.2
Acquisitions	61
Foreign currency translation	14.6
Goodwill, ending balance	2,363.8
USA
Goodwill [Roll Forward]
Goodwill, beginning balance	1,812.6
Acquisitions	0
Foreign currency translation	0
Goodwill, ending balance	1,812.6
EMEA
Goodwill [Roll Forward]
Goodwill, beginning balance	12.6
Acquisitions	57.8
Foreign currency translation	0.1
Goodwill, ending balance	70.5
Canada
Goodwill [Roll Forward]
Goodwill, beginning balance	402.5
Acquisitions	0
Foreign currency translation	9
Goodwill, ending balance	411.5
LATAM
Goodwill [Roll Forward]
Goodwill, beginning balance	60.5
Acquisitions	3.2
Foreign currency translation	5.5
Goodwill, ending balance	$ 69.2

Goodwill and intangible asset_4

Goodwill and intangible assets, net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,154.8	$ 1,096.6
Accumulated amortization	(961.8)	(929.6)
Net	193	167
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	983.4	929.6
Accumulated amortization	(793.2)	(765.2)
Net	190.2	164.4
Other
Finite-Lived Intangible Assets [Line Items]
Gross	171.4	167
Accumulated amortization	(168.6)	(164.4)
Net	$ 2.8	$ 2.6

Goodwill and intangible asset_5

Goodwill and intangible assets, net - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Millions	Jun. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 46.4
2024	39.5
2025	35.6
2026	30.4
2027	$ 24.8

Revenue - Schedule of External

Revenue - Schedule of External Net Sales Disaggregated by Major Stream Type (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 2,574.1	$ 3,016.6	$ 5,259	$ 5,899.2
USA
Disaggregation of Revenue [Line Items]
Net sales	1,666.2	1,970.2	3,395.4	3,813.4
EMEA
Disaggregation of Revenue [Line Items]
Net sales	474.9	547.2	989	1,109.4
Canada
Disaggregation of Revenue [Line Items]
Net sales	243	298.2	517.2	591.6
LATAM
Disaggregation of Revenue [Line Items]
Net sales	190	201	357.4	384.8
Chemical distribution
Disaggregation of Revenue [Line Items]
Net sales	2,494.8	2,942.3	5,100.7	5,755.7
Chemical distribution | USA
Disaggregation of Revenue [Line Items]
Net sales	1,594	1,900.2	3,246.4	3,677.3
Chemical distribution | EMEA
Disaggregation of Revenue [Line Items]
Net sales	474.9	547.1	989	1,109.3
Chemical distribution | Canada
Disaggregation of Revenue [Line Items]
Net sales	243	298.2	517.2	591.6
Chemical distribution | LATAM
Disaggregation of Revenue [Line Items]
Net sales	182.9	196.8	348.1	377.5
Services
Disaggregation of Revenue [Line Items]
Net sales	79.3	74.3	158.3	143.5
Services | USA
Disaggregation of Revenue [Line Items]
Net sales	72.2	70	149	136.1
Services | EMEA
Disaggregation of Revenue [Line Items]
Net sales	0	0.1	0	0.1
Services | LATAM
Disaggregation of Revenue [Line Items]
Net sales	$ 7.1	$ 4.2	$ 9.3	$ 7.3

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Customer prepayments and deposits	$ 5.9		$ 15.3
Revenue recognized from amounts included in contract liabilities	$ 12.9	$ 16.4

Supplemental financial inform_3

Supplemental financial information - Other Operating Expenses, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Acquisition and integration related expenses	$ 0.9	$ 0	$ 1.1	$ 0
Stock-based compensation expense	5.5	7.8	16.1	21.7
Restructuring charges	2.1	0	2.9	0
Gain on sale of property, plant, and equipment	(2.6)	(1.3)	(3.1)	(2.2)
Merger transaction costs	5.8	0	19.6	0
Other	0.8	(1.2)	1.3	1.5
Total other operating expenses, net	$ 12.5	$ 5.3	$ 37.9	$ 21

Supplemental financial inform_4

Supplemental financial information - Other (Expense) Income, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Foreign currency loss, net	$ (9)	$ (4.4)	$ (13.9)	$ (3.9)
Undesignated derivative instruments	1.5	3.5	1.6	8.5
Non-operating retirement (costs) benefits	(0.9)	2.9	(1.9)	5.5
Other	(0.7)	0.7	(1.3)	0.3
Total other (expense) income, net	$ (9.1)	$ 2.7	$ (15.5)	$ 10.4

Supplemental financial inform_5

Supplemental financial information - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Amount held in notional cash pool, net	$ 117.8	$ 52.9
Gross amount of cash in notional cash pool	262.8	69.8
Bank overdrafts, notional cash pool	$ 145	$ 16.9

Supplemental financial inform_6

Supplemental financial information - Allowance for Doubtful Accounts (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 13.1
Provision for credit losses	2.2
Write-offs	(1.5)
Foreign exchange	0.5
Balance, end of period	$ 14.3

Supplemental financial inform_7

Supplemental financial information - Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Property, plant, and equipment, at cost	$ 2,391.3	$ 2,303.9
Less: accumulated depreciation	(1,299)	(1,248.9)
Property, plant, and equipment, net	$ 1,092.3	$ 1,055

Earnings per share - Summary of

Earnings per share - Summary of Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 87.8	$ 162.9	$ 170.9	$ 343.7
Weighted average common shares outstanding
Weighted average common shares outstanding - basic (in shares)	157.8	168.4	157.8	169
Effect of dilutive securities: stock compensation plans (in shares)	1.7	1.3	1.8	1.5
Weighted average common shares outstanding - diluted (in shares)	159.5	169.7	159.6	170.5
Income per common share
Basic income per common share (in dollars per share)	$ 0.56	$ 0.97	$ 1.08	$ 2.03
Diluted income per common share (in dollars per share)	$ 0.55	$ 0.96	$ 1.07	$ 2.02
Antidilutive securities excluded from diluted income (loss) per share (in shares)	0.1	0.1	0.1	0.1

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Short-term financing		$ 7,400,000	$ 0
Letters of credit outstanding		$ 128,700,000	$ 127,700,000
Weighted average interest rate on long-term debt		4.54%	4.36%
Senior Unsecured Notes due 2027 | Unsecured Debt
Debt Instrument [Line Items]
Repayments of senior unsecured notes	$ 46,000,000
Gain on extinguishment of debt	$ 1,500,000

Debt - Schedule of Long Term De

Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Finance lease obligations	$ 116.9	$ 104.3
Total long-term debt before unamortized debt issuance costs and discount	2,466.9	2,484.3
Less: unamortized debt issuance costs and discount on debt	(16.5)	(18.5)
Total long-term debt	2,450.4	2,465.8
Less: current maturities	(41.6)	(38.9)
Total long-term debt, excluding current maturities	2,408.8	2,426.9
Term B-5 Loan Due 2026
Debt Instrument [Line Items]
Aggregate principal amount	$ 386	$ 388
Variable interest rate	7.54%	6.38%
Term B-6 Loan Due 2028
Debt Instrument [Line Items]
Aggregate principal amount	$ 980	$ 985
Variable interest rate	7.29%	6.13%
Senior ABL Credit Facility due 2027
Debt Instrument [Line Items]
Aggregate principal amount	$ 330	$ 353
Variable interest rate	6.52%	5.59%
Senior ABL Term Loan due 2027
Debt Instrument [Line Items]
Aggregate principal amount	$ 200	$ 200
Variable interest rate	6.71%	6.17%
Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Aggregate principal amount	$ 454	$ 454
Fixed interest rate	5.13%	5.13%

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount	$ 2,450.4	$ 2,465.8
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount	2,450.4	2,465.8
Fair value	$ 2,476.6	$ 2,459.3

Employee benefit plans - Compon

Employee benefit plans - Components of Net Periodic Benefit Cost (Details) - Defined Benefit Pension Plans - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
USA
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	6.3	5.1	12.5	10.3
Expected return on plan assets	(5.4)	(7.6)	(10.5)	(15.2)
Amortization of prior service credit	0	0	0	0
Net periodic benefit cost (income)	0.9	(2.5)	2	(4.9)
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.2	0.4	0.5	0.7
Interest cost	4.1	2.7	8	5.6
Expected return on plan assets	(3.9)	(2.8)	(7.7)	(5.8)
Amortization of prior service credit	(0.2)	(0.3)	(0.4)	(0.4)
Net periodic benefit cost (income)	$ 0.2	$ 0	$ 0.4	$ 0.1

Employee benefit plans - Multi-

Employee benefit plans - Multi-Employer Pension Plan Exit Liability (Details) - Central States Southeast and Southwest Areas Pension Plan $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($)	Dec. 31, 2021 USD ($) facility
Defined Benefit Plan Disclosure [Line Items]
Partial withdrawal liability		$ 31.2
Number of sites | facility		8
Annual cash obligation	$ 1.9
Term of annual cash obligation payments	20 years

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 34.2	$ 58.6	$ 59.5	$ 123.3
Effective income tax rate	28%	26.50%	25.80%	26.40%

Share repurchase program and _2

Share repurchase program and stock-based compensation (Details) - USD ($)		3 Months Ended	6 Months Ended		12 Months Ended
	Nov. 03, 2022	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Feb. 28, 2023	Nov. 01, 2022	Nov. 01, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Repurchase of common stock			$ 2,500,000	$ 104,600,000
Increase in treasury stock		$ 80,600,000	$ 2,500,000	$ 104,600,000
Restricted Stock Units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares granted in period (in shares)			671,702
Grant date fair value of shares granted in period (in dollars per share)			$ 34.69
Unrecognized stock-based compensation expense			$ 23,000,000
Period of recognition for unrecognized stock-based compensation expense			1 year 3 months 18 days
Performance-Based Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares granted in period (in shares)			245,600
Grant date fair value of shares granted in period (in dollars per share)			$ 36.44
Unrecognized stock-based compensation expense			$ 8,800,000
Period of recognition for unrecognized stock-based compensation expense			1 year 3 months 18 days
The 2021 Stock Repurchase Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock repurchase program, authorized amount			$ 300,000,000				$ 1,500,000,000	$ 500,000,000
Stock repurchase program, authorized amount increase							1,000,000,000
Reacquired shares (in shares)		2,800,000	100,000	3,500,000
Purchase of treasury stock		$ 80,600,000	$ 2,500,000	$ 104,600,000
Remaining authorized repurchased amount			$ 1,038,400,000
ASR with Goldman
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock repurchase program, authorized amount							$ 200,000,000
Repurchase of common stock	$ 200,000,000
Stock repurchase program, initial delivery (in shares)	5,800,000
Stock repurchase program, percent of notional value of the ASR divided by closing price of common stock	75%
Number of additional shares delivered (in shares)						500,000
Increase in treasury stock					$ 150,000,000
Decrease in additional paid-in capital					$ 50,000,000

Derivatives - Narrative (Detail

Derivatives - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($) derivative	Jun. 30, 2021 USD ($) derivative
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of swaps designated as cash flow hedges	95%
Cross currency swap contracts | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument, term	1 month
Cross currency swap contracts | Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument, term	3 months
Interest rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of contracts held | derivative		2	2
Notional amount of derivative	$ 750,000,000	$ 400,000,000
Interest rate swap derivatives, notional amount, June 30, 2023 to June 29, 2024			$ 250,000,000
Interest rate swap derivatives, notional amount, June 30, 2024 to May 31, 2028			$ 500,000,000

Derivatives - Schedule of Notio

Derivatives - Schedule of Notional Amounts (Details) - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Interest rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivative	$ 750	$ 400
Cross currency swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivative	400
Designated | Interest rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivative	1,050		$ 650
Designated | Cross currency swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivative	381		381
Undesignated | Interest rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivative	100		100
Undesignated | Foreign currency derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivative	130.3		149.2
Undesignated | Cross currency swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivative	$ 19		$ 19

Derivatives - Pre-Tax Effects o

Derivatives - Pre-Tax Effects of AOCL and Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest expense	$ 33.8	$ 24.3	$ 67	$ 46.5
Other (expense) income, net	(9.1)	2.7	(15.5)	10.4
Interest rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain (loss) recognized in accumulated other comprehensive loss	28.2	13.4	18.8	45.6
Interest rate swap contracts | Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain to be reclassified to consolidated statement of operations within the next 12 months			26.9
Interest rate swap contracts | Interest expense | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	5.5	(1.3)	10.3	(3.9)
Interest rate swap contracts | Interest expense | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	0	0	0	0
Interest rate swap contracts | Other (expense) income, net | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	0	0	0	0
Interest rate swap contracts | Other (expense) income, net | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	0.6	0.8	0.6	3.7
Cross currency swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain (loss) recognized in accumulated other comprehensive loss	3.7	33.2	(0.3)	58
Cross currency swap contracts | Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain to be reclassified to consolidated statement of operations within the next 12 months			21.2
Cross currency swap contracts | Interest expense | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	5.1	1.3	9.8	1.7
Cross currency swap contracts | Interest expense | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	0	0	0	0
Cross currency swap contracts | Other (expense) income, net | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	(2.5)	20.6	(7.3)	30.9
Cross currency swap contracts | Other (expense) income, net | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	0.2	1.7	0	2.9
Foreign currency derivatives | Interest expense | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	0	0	0	0
Foreign currency derivatives | Other (expense) income, net | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of undesignated derivatives:	$ 0.7	$ 1	$ 1	$ 1.9

Derivatives - Assets and Liabil

Derivatives - Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	$ 113.5	$ 115.3
Derivative Liabilities	0.9	0.9
Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	108.7	109.3
Derivative Liabilities	0	0
Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	4.8	6
Derivative Liabilities	0.9	0.9
Prepaid expenses and other current assets | Cross currency swap contracts | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	21.2	19.7
Prepaid expenses and other current assets | Cross currency swap contracts | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	1.1	1
Prepaid expenses and other current assets | Interest rate swap contracts | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	26.9	19
Prepaid expenses and other current assets | Interest rate swap contracts | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	2.5	2.7
Prepaid expenses and other current assets | Foreign currency derivatives | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	0	0
Other assets | Cross currency swap contracts | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	24.7	35.4
Other assets | Cross currency swap contracts | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	1.2	1.8
Other assets | Interest rate swap contracts | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	35.9	35.2
Other assets | Interest rate swap contracts | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	0	0.5
Other accrued expenses | Cross currency swap contracts | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0	0
Other accrued expenses | Cross currency swap contracts | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0	0
Other accrued expenses | Interest rate swap contracts | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0	0
Other accrued expenses | Interest rate swap contracts | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0	0
Other accrued expenses | Foreign currency derivatives | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0.9	0.9
Other long-term liabilities | Cross currency swap contracts | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0	0
Other long-term liabilities | Cross currency swap contracts | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0	0
Other long-term liabilities | Interest rate swap contracts | Designated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0	0
Other long-term liabilities | Interest rate swap contracts | Undesignated
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	$ 0	$ 0

Accumulated other comprehensi_3

Accumulated other comprehensive loss - Schedule of Changes in Accumulated Other Comprehensive Loss by Component Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,591.2	$ 2,516.8	$ 2,494.2	$ 2,292.5
Other comprehensive income (loss) before reclassifications	56.6	(20.8)	68.6	38.9
Amounts reclassified from accumulated other comprehensive loss	(6.3)	(15.4)	(10)	(21.6)
Total other comprehensive income (loss), net of tax	50.3	(36.2)	58.6	17.3
Ending balance	2,736	2,579	2,736	2,579
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(336.4)	(309.2)	(344.7)	(362.7)
Total other comprehensive income (loss), net of tax	50.3	(36.2)	58.6	17.3
Ending balance	(286.1)	(345.4)	(286.1)	(345.4)
Cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	58.7	25.6	72.2	(10.8)
Other comprehensive income (loss) before reclassifications	23.9	34.5	13.9	77
Amounts reclassified from accumulated other comprehensive loss	(6.2)	(15.2)	(9.7)	(21.3)
Total other comprehensive income (loss), net of tax	17.7	19.3	4.2	55.7
Ending balance	76.4	44.9	76.4	44.9
Defined benefit pension
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	15.9	16.6	16.1	16.7
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	(0.1)	(0.2)	(0.3)	(0.3)
Total other comprehensive income (loss), net of tax	(0.1)	(0.2)	(0.3)	(0.3)
Ending balance	15.8	16.4	15.8	16.4
Currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(411)	(351.4)	(433)	(368.6)
Other comprehensive income (loss) before reclassifications	32.7	(55.3)	54.7	(38.1)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive income (loss), net of tax	32.7	(55.3)	54.7	(38.1)
Ending balance	$ (378.3)	$ (406.7)	$ (378.3)	$ (406.7)

Accumulated other comprehensi_4

Accumulated other comprehensive loss - Summary of Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other (expense) income, net	$ 9.1	$ (2.7)	$ 15.5	$ (10.4)
Interest expense	31.8	23.3	63.2	44.4
Interest expense and other (expense) income, net	33.8	24.3	67	46.5
Income tax expense	34.2	58.6	59.5	123.3
Net of tax	(87.8)	(162.9)	(170.9)	(343.7)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net of tax	(6.3)	(15.4)	(10)	(21.6)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of defined benefit pension items
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other (expense) income, net	(0.2)	(0.3)	(0.4)	(0.4)
Income tax expense	0.1	0.1	0.1	0.1
Net of tax	(0.1)	(0.2)	(0.3)	(0.3)
Reclassification out of Accumulated Other Comprehensive Income | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income tax expense	1.9	5.4	3.1	7.4
Net of tax	(6.2)	(15.2)	(9.7)	(21.3)
Reclassification out of Accumulated Other Comprehensive Income | Cash flow hedges | Interest rate swap contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest expense	(5.5)	1.3	(10.3)	3.9
Reclassification out of Accumulated Other Comprehensive Income | Cash flow hedges | Cross currency swap contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest expense and other (expense) income, net	$ (2.6)	$ (21.9)	$ (2.5)	$ (32.6)

Commitments and contingencies -

Commitments and contingencies - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2022 CAD ($)	Jun. 30, 2023 USD ($) claim	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) claim site location	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Number of asbestos-related claims | claim		260		260
Income tax examination, penalties and interest accrued	$ 20
Income tax examination, estimate of possible loss	$ 49.2
Number of locations impacted by environmental laws and regulations | location				127
Number of company owned/occupied sites requiring environmental remediation work | site				107
Number of non owned sites liable for a share of clean-up | site				20
Estimated life of project, minimum				2 years
Estimated life of project, maximum				30 years
Warehousing, selling, and administrative
Loss Contingencies [Line Items]
Insurance recoveries		$ 0	$ 9,200,000	$ 0	$ 9,200,000
Prepaid expenses and other current assets
Loss Contingencies [Line Items]
Receivables for insurance recoveries		6,400,000		6,400,000		$ 6,700,000
Other assets
Loss Contingencies [Line Items]
Receivables for insurance recoveries		$ 7,000,000		$ 7,000,000		$ 9,300,000

Commitments and contingencies_2

Commitments and contingencies - Changes in Total Environmental Liabilities (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Accrual for Environmental Loss Contingencies [Roll Forward]
Environmental liabilities at beginning of period	$ 90.9
Revised obligation estimates	7.1
Payments	(12.7)
Environmental liabilities at end of period	$ 85.3

Commitments and contingencies_3

Commitments and contingencies - Environmental Liabilities Balance Sheet Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Current environmental liabilities	$ 27.5	$ 36.5
Long-term environmental liabilities	$ 57.8	$ 54.4

Segments - Narrative (Details)

Segments - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segments - Financial Informatio

Segments - Financial Information for Company's Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net sales	$ 2,574.1	$ 3,016.6	$ 5,259	$ 5,899.2
Adjusted EBITDA	221.4	291.6	436.8	610.9
USA
Segment Reporting Information [Line Items]
Net sales	1,666.2	1,970.2	3,395.4	3,813.4
EMEA
Segment Reporting Information [Line Items]
Net sales	474.9	547.2	989	1,109.4
Canada
Segment Reporting Information [Line Items]
Net sales	243	298.2	517.2	591.6
LATAM
Segment Reporting Information [Line Items]
Net sales	190	201	357.4	384.8
Inter-segment
Segment Reporting Information [Line Items]
Net sales	(31.7)	(49.4)	(60.4)	(80.4)
Adjusted EBITDA	(3.5)	(5.6)	(13.5)	(12.2)
Inter-segment | USA
Segment Reporting Information [Line Items]
Net sales	(29.2)	(43.8)	(55.7)	(72.3)
Inter-segment | EMEA
Segment Reporting Information [Line Items]
Net sales	(1.1)	(3)	(1.7)	(3.7)
Inter-segment | Canada
Segment Reporting Information [Line Items]
Net sales	(1.3)	(2.5)	(2.9)	(4.3)
Inter-segment | LATAM
Segment Reporting Information [Line Items]
Net sales	(0.1)	(0.1)	(0.1)	(0.1)
Operating Segments | USA
Segment Reporting Information [Line Items]
Net sales	1,695.4	2,014	3,451.1	3,885.7
Adjusted EBITDA	156.5	198.6	302.3	407.8
Operating Segments | EMEA
Segment Reporting Information [Line Items]
Net sales	476	550.2	990.7	1,113.1
Adjusted EBITDA	31.3	50.4	75.6	114.2
Operating Segments | Canada
Segment Reporting Information [Line Items]
Net sales	244.3	300.7	520.1	595.9
Adjusted EBITDA	24.1	32	49.5	68.7
Operating Segments | LATAM
Segment Reporting Information [Line Items]
Net sales	190.1	201.1	357.5	384.9
Adjusted EBITDA	$ 13	$ 16.2	$ 22.9	$ 32.4

Segments - Reconciliation of Ne

Segments - Reconciliation of Net Income (Loss) to Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting [Abstract]
Net income	$ 87.8	$ 162.9	$ 170.9	$ 343.7
Depreciation	33.9	32.2	66.3	65.1
Amortization	11.9	12	23.1	23.8
Interest expense, net	31.8	23.3	63.2	44.4
Income tax expense	34.2	58.6	59.5	123.3
EBITDA	199.6	289	383	600.3
Other operating expenses, net	12.5	5.3	37.9	21
Other expense (income), net	9.1	(2.7)	15.5	(10.4)
Impairment charges	0.2	0	0.4	0
Adjusted EBITDA	$ 221.4	$ 291.6	$ 436.8	$ 610.9

Subsequent events (Details)

Subsequent events (Details) $ in Millions		1 Months Ended
	Jul. 21, 2023 USD ($)	Jul. 31, 2023 USD ($) derivative	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($) derivative	Dec. 31, 2022 USD ($)	Jun. 30, 2021 derivative
Senior Unsecured Notes due 2027
Subsequent Event [Line Items]
Aggregate principal amount			$ 454		$ 454
Interest rate swap contracts
Subsequent Event [Line Items]
Notional amount of derivative			750	$ 400
Number of contracts held | derivative				2		2
Cross currency swap contracts
Subsequent Event [Line Items]
Notional amount of derivative			$ 400
Subsequent Event | Senior Unsecured Notes due 2027
Subsequent Event [Line Items]
Interest rate	5.125%
Aggregate principal amount	$ 454
Redemption price percentage	102.563%
Subsequent Event | Interest rate swap contracts
Subsequent Event [Line Items]
Number of contract terminated | derivative		7
Proceeds from derivative instruments		$ 52.6
Notional amount of derivative		$ 400
Number of contracts held | derivative		2
Subsequent Event | Cross currency swap contracts
Subsequent Event [Line Items]
Proceeds from derivative instruments		$ 36.9