“Financing interest expense on long-term borrowings increased $4.9 million, or 16.4%, to $34.8 million for the three months ended March 31, 2026, compared to $29.9 million for the three months ended March 31, 2025.The increase was primarily attributable to the completion in February 2025 of the amortization of the amounts in AOCI related to the interest rate swaps that were terminated in December 2023, as well as a higher outstanding principal under the Senior Secured First Lien Term B-2 Loans, as described in Note 9 “Borrowings”, partially offset by the effect from lower overall interest rates as a result of rate cuts.”
“The cash used in financing activities for the three months ended March 31, 2026 was primarily attributable to $114.5 million in dividends to stockholders and distributions made to noncontrolling interests and $55.8 million in purchases of treasury stock, partially offset by $144.5 million of net proceeds from short-term borrowings.”
“Although we closely monitor potential exposures as a result of these fluctuations in currencies, and where cost‑justified we adopt strategies that are designed to reduce the impact of these fluctuations on our financial performance, including the financing of non‑U.S. dollar assets with borrowings in the same currency and the use of various hedging transactions related to net assets, revenues, expenses or cash flows, there can be no assurance that we will be successful in managing our foreign exchange risk.”