Restructuring (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following tables summarizes the impact of the Company’s restructuring and transformation charges on the consolidated statements of operations:

	Successor		Predecessor
	Three months ended		Three months ended
	June 30, 2024		June 30, 2023
Cost of sales – services	$	(0.3)	$	3.6
Cost of sales – products	1.1		0.3
Selling and administrative expense	10.3		13.4
Research, development and engineering expense	(0.5)		0.5
Loss on sale of assets, net	—		0.8
Total	$	10.6	$	18.6

	Successor		Predecessor
	Six months ended		Six months ended
	June 30, 2024		June 30, 2023
Cost of sales – services	$	16.0	$	4.2
Cost of sales – products	1.8		0.6
Selling and administrative expense	27.0		26.4
Research, development and engineering expense	2.5		1.1
Loss on sale of assets, net	—		1.3
Total	$	47.3	$	33.6

Schedule of Restructuring Accrual Balances and Related Activity

The following table summarizes the Company’s severance accrual balance and related activity:

	2024
Beginning balance as of January 1 (Successor)	$	10.3
Severance accrual	22.8
Payout/Settlement	(16.4)
Other	(0.3)
Ending balance as of June 30 (Successor)	$	16.4

	2023
Beginning balance as of January 1 (Predecessor)	$	44.2
Severance accrual	6.4
Payout/Settlement	(36.3)
Other	0.3
Ending balance as of June 30 (Predecessor)	$	14.6