Property, Plant, and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment, Net

Property, Plant and Equipment, Net

Property, plant and equipment, net consist of the following (in millions):

	Depreciable Lives	December 31, 2023		December 31, 2022
Land, buildings, and leasehold improvements	3-39 years	$	49.4	$	46.5
Machinery and equipment	5-15 years	38.5		33.6
Badges	3-5 years	41.0		33.4
Furniture, fixtures, computer equipment and other	3-10 years	22.9		20.8
Software development costs	3-5 years	10.7		5.0
Construction in progress (1)	—	28.6		15.9
		191.1		155.2
Less: accumulated depreciation and amortization		(56.6)		(30.9)
		$	134.5	$	124.3

(1) Includes $4.2 million and $4.5 million of Construction in progress for internally developed software as of December 31, 2023 and December 31, 2022, respectively.

Certain reclassifications have been made to the components of property, plant and equipment for the year ending December 31, 2022 to conform to the 2023 presentation.

Total depreciation expense included in costs of revenues and operating expenses was as follows (in millions):

	Successor						Predecessor
	Fiscal Year Ended December 31, 2023		Fiscal Year Ended December 31, 2022		From October 20, 2021 through December 31, 2021		From July 1, 2021 through October 19, 2021		Fiscal Year Ended June 30, 2021
Depreciation expense in:
Cost of revenues	$	19.2	$	18.0	$	3.5	$	3.9	$	14.0
Operating expenses	$	12.0	$	10.1	$	1.7	$	2.1	$	6.8