Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Information

The following tables present information regarding the Company’s segment performance and provide a reconciliation between segment operating profit and the consolidated Profit (loss) before taxes:

	Successor		Predecessor
	Three months ended		Three months ended
	June 30, 2024		June 30, 2023
Net sales summary by segment
Banking	$	707.4	$	664.9
Retail	232.3		252.4
Held for sale non-core business(7)	—		4.9
Total revenue	$	939.7	$	922.2
Segment operating profit
Banking	$	134.6	$	102.4
Retail	34.7		32.1
Total segment operating profit	$	169.3	$	134.5
Corporate charges not allocated to segments(1)	$	(66.5)	$	(64.6)
Impairment of assets(2)	—		(1.8)
Amortization of fair value assets(3)	(17.7)		(18.0)
Restructuring and transformation expenses(4)	(10.6)		(18.6)
Refinancing related costs(5)	(5.0)		(30.5)
Net non-routine income (expense)(6)	1.2		(2.0)
Held for sale non-core business(7)	—		(2.9)
	(98.6)		(138.4)
Operating profit (loss)	70.7		(3.9)
Other income (expense)	(25.4)		(697.6)
Profit (loss) before taxes	$	45.3	$	(701.5)

(1)    Corporate charges not allocated to segments include headquarter-based costs associated primarily with human resources, finance, IT and legal that are not directly attributable to a particular segment and are separately assessed by the CODM for purposes of making decisions, assessing performance and allocating resources.

(2)    Impairment of $(1.8) in the second quarter of 2023 relates to leased European facilities closures.

(3)    The amortization of purchase accounting intangible assets and the depreciation and amortization of assets resulting from Fresh Start accounting are excluded from the segment results used by the CODM to make decisions, allocate resources or assess performance.

(4)    Refer to Note 10 for further information regarding restructurings. Consistent with the historical reportable segment structure, restructuring and transformation costs are not assigned to the segments, and are separately analyzed by the CODM.

(5)    Refinancing related costs are fees earned by our advisors that have been accounted for as period expense.

(6)    Net non-routine expense consists of items that the Company has determined are non-routine in nature and not allocated to the reportable operating segments as they are not included in the measure used by the CODM to make decisions, allocate resources and assess performance.

(7)    Held for sale non-core European retail business represents the revenue and operating profit of a business that had been classified as held for sale in the Predecessor Period and sold in September 2023.

	Successor		Predecessor
	Six months ended		Six months ended
	June 30, 2024		June 30, 2023
Net sales summary by segment
Banking	$	1,356.2	$	1,257.8
Retail	478.9		512.8
Held for sale non-core European retail business(7)	—		9.7
Total revenue	$	1,835.1	$	1,780.3
Segment operating profit
Banking	$	250.9	$	182.3
Retail	70.4		71.1
Total segment operating profit	$	321.3	$	253.4
Corporate charges not allocated to segments(1)	$	(129.1)	$	(133.5)
Impairment of assets(2)	—		(2.7)
Amortization of fair value assets(3)	(40.8)		(35.7)
Restructuring and transformation expenses(4)	(47.3)		(33.6)
Refinancing related costs(5)	(11.9)		(44.6)
Net non-routine income (expense)(6)	2.3		(2.7)
Held for sale non-core European retail business(7)	—		(6.6)
	(226.8)		(259.4)
Operating profit (loss)	94.5		(6.0)
Other income (expense)	(63.4)		(785.8)
Profit (loss) before taxes	$	31.1	$	(791.8)

(1)    Corporate charges not allocated to segments include headquarter-based costs associated primarily with human resources, finance, IT and legal that are not directly attributable to a particular segment and are separately assessed by the CODM for purposes of making decisions, assessing performance and allocating resources.

(2)    Impairment of $(2.7) in the six months ended June 30, 2023 relates to leased European facilities closures.

(3)    The amortization of purchase accounting intangible assets and the depreciation and amortization of assets resulting from Fresh Start accounting are excluded from the segment results used by the CODM to make decisions, allocate resources or assess performance.

(4)    Refer to Note 10 for further information regarding restructurings. Consistent with the historical reportable segment structure, restructuring and transformation costs are not assigned to the segments, and are separately analyzed by the CODM.

(5)    Refinancing related costs are fees earned by our advisors that have been accounted for as period expense.

(6)    Net non-routine expense consists of items that the Company has determined are non-routine in nature and not allocated to the reportable operating segments as they are not included in the measure used by the CODM to make decisions, allocate resources and assess performance.

(7)    Held for sale non-core European retail business represents the revenue and operating profit of a business that had been classified as held for sale in the Predecessor Period and sold in September 2023.

Schedule of Revenue from External Customers by Product and Service Solution

The following table presents information regarding the Company’s segment net sales by service and product solution:

	Successor		Predecessor
	Three months ended		Three months ended
	June 30, 2024		June 30, 2023
Segments
Banking
Services	$	401.5	$	400.2
Products	305.9		264.7
Total Banking	707.4		664.9
Retail
Services	139.2		135.3
Products	93.1		117.1
Total Retail	232.3		252.4
Held for sale non-core European retail business
Services	—		2.5
Products	—		2.4
Total revenue	$	939.7	$	922.2

	Successor		Predecessor
	Six months ended		Six months ended
	June 30, 2024		June 30, 2023
Segments
Banking
Services	$	788.1	$	781.3
Products	568.1		476.5
Total Banking	1,356.2		1,257.8
Retail
Services	277.4		268.5
Products	201.5		244.3
Total Retail	478.9		512.8
Held for sale non-core European retail business
Services	—		4.6
Products	—		5.1
Total revenue	$	1,835.1	$	1,780.3