Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Interest Rate Derivatives

The key terms of the interest rate swap were as follows:

	March 19, 2019 Interest Rate Swap
Effective date	March 29, 2019
Termination date	March 28, 2024
Term	5 years
Notional amount	$130.0
Fixed swap rate	2.40%

The fair value of the interest rate swap classified as Level 2 as of December 31, 2023, was as follows:

	Balance Sheet Location	December 31, 2023
Interest rate swap asset	Prepaid expenses and other current assets	$	0.9

The key terms of the interest rate collars are as follows:

	December 12, 2022 Interest Rate Collar	December 14, 2022 Interest Rate Collar
Effective date	February 1, 2023	February 1, 2023
Termination date	October 30, 2026	October 31, 2025
Term	45 Months	33 Months
Notional amount	$75.0	$75.0
Floor Rate	2.09%	2.25%
Ceiling Rate	5.00%	5.00%

The fair value of the interest rate collars classified as Level 2 as of March 31, 2024, and December 31, 2023, were as follows:

	Balance Sheet Location	March 31, 2024		December 31, 2023
Interest rate collar assets	Prepaid expenses and other current assets	$	0.3	$	—
Interest rate collar liabilities	Other long-term liabilities	$	—	$	(0.2)

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The cash flows associated with the interest rate swap have been recognized as an adjustment to interest expense in the condensed consolidated statements of operations:

	Three Months Ended March 31,
	2024		2023
Cash Flow Impacts
Net interest received	$	(1.0)	$	(0.7)
Impacts with Swap as Nonhedging Instrument
Loss recognized in interest expense excluded from hedge effectiveness assessments	0.9		1.0
Amounts reclassified out of accumulated other comprehensive loss to interest expense	0.6		0.7
Net interest expense	(1.0)		(0.7)
Total impact of swap to interest expense	$	0.5	$	1.0

The cash flows associated with the interest rate collars have been recognized as an adjustment to interest expense in the condensed consolidated statements of operations, and the changes in the fair value of the interest rate collars have been included in other comprehensive income in the condensed consolidated statements of comprehensive loss:

	Three Months Ended March 31,
	2024		2023
Cash Flow Impacts
Net interest received	$	(0.1)	$	—
Gain recognized in other comprehensive income	$	(0.5)	$	(0.1)