Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

Leases

Our operating lease obligations are for our office facilities. Our leases have remaining lease terms ranging between less than 1 year and 9 years, some of which include options to extend the leases.

The lease information is as follows:

	December 31,
	2024			2023
(in millions)
Operating leases right-of-use assets	$	47.6		$	51.2
Operating lease liabilities	49.1			51.4
Operating lease weighted-average remaining lease term	6.80			7.70
Operating lease weighted-average discount rate	6.07		%	6.13		%

	Successor				Predecessor
	For the Year Ended		Period from		Period from		For the Year Ended
	December 31, 2024		November 16, 2023 through December 31, 2023		January 1, 2023 through November 15, 2023		December 31, 2022
(in millions)
Operating lease costs	$	5.2	$	0.7	$	5.2	$	8.1
Variable lease costs	2.3		0.5		3.3		4.7
Sublease income	(1.0)		(0.1)		(0.9)		(1.0)
Total lease costs	$	6.5	$	1.1	$	7.6	$	11.8

Our short-term leases as of December 31, 2024 and 2023 were not material.

Future minimum lease payments under operating leases as of December 31, 2024 were as follows:

	December 31,
(in millions)	2024
2025	$	9.9
2026	9.5
2027	8.9
2028	7.6
2029	7.2
Thereafter	16.8
Total future minimum lease payments	59.9
Less imputed interest	(10.8)
Total operating lease liability	$	49.1