Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Values of Interest rate Swaps and Interest Rate Caps Recorded in Condensed Consolidated Balance Sheets

As of December 31, 2023, the fair values of the interest rate swaps and interest rate caps are recorded in the Consolidated Balance Sheets as follows:

				Quoted Prices in		Significant		Significant
		December 31,		Active Markets		Observable Inputs		Unobservable Inputs
(dollars in millions)	Balance Sheet Location	2023		Level 1		Level 2		Level 3
Assets:
Interest Rate Swap	Other current assets	$	10.7	$	—	$	10.7	$	—
Interest Rate Swap	Other noncurrent assets	$	1.8	$	—	$	1.8	$	—
Interest Rate Cap	Other current assets	$	3.2	$	—	$	3.2	$	—
Liabilities:
Interest Rate Swap	Other noncurrent liabilities	$	3.8	$	—	$	3.8	$	—
Interest Rate Cap	Other noncurrent liabilities	$	2.6	$	—	$	2.6	$	—

As of December 31, 2022, the fair values of the interest rate swaps and interest rate caps are recorded in the Consolidated Balance Sheets as follows:

				Quoted Prices in		Significant		Significant
		December 31,		Active Markets		Observable Inputs		Unobservable Inputs
(dollars in millions)	Balance Sheet Location	2022		Level 1		Level 2		Level 3
Assets:
Interest Rate Swap	Other current assets	$	7.2	$	—	$	7.2	$	—
Interest Rate Swap	Other noncurrent assets	$	5.1	$	—	$	5.1	$	—
Interest Rate Cap	Other current assets	$	3.8	$	—	$	3.8	$	—
Liabilities:
Interest Rate Cap	Other noncurrent liabilities	$	2.4	$	—	$	2.4	$	—

Schedule of Summarizes the Location of Gains in the Condensed Consolidated Statements of Operations in Addition to the Derivative Contract Type

The following table summarizes the location of gains in the Consolidated Statements of Operations that were recognized during the years ended December 31, 2023 and 2022, in addition to the derivative contract type:

		Year ended			Year ended
(dollars in millions)	Statement of Operations Location	December 31, 2023			December 31, 2022
Interest Rate Swap	Other (income) expense, net	$	(9.3	)	$	(11.7	)
Interest Rate Cap	Other (income) expense, net	$	(3.8	)	$	(0.3	)

Amount of Gains Recognized in Accumulated Other Comprehensive Income Net of Reclassification into Earnings

The amount of gains recognized in Accumulated Other Comprehensive Income ("AOCI") (effective portion) net of reclassifications into earnings is as follows:

	Successor						Predecessor
	Year Ended		Year Ended		September 8, 2021 to		January 1, 2021 to
(dollars in millions)	December 31, 2023		December 31, 2022		December 31, 2021		September 7, 2021
Interest Rate Swap	$	—	$	—	$	—	$	5.3

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The amount of losses reclassified from AOCI into earnings is as follows:

		Successor						Predecessor
		Year Ended		Year Ended		September 8, 2021 to		January 1, 2021 to
(dollars in millions)	Statement of Operations Location	December 31, 2023		December 31, 2022		December 31, 2021		September 7, 2021
Interest Rate Swap	Other (income) expense, net	$	—	$	—	$	—	$	(20.1	)
Interest Rate Swap	Interest expense	$	—	$	—	$	—	$	(5.4	)

Schedule of Carrying and Fair Values by Balance Sheet Grouping

The carrying and fair values of these items are as follows:

	December 31, 2023				December 31, 2022
(dollars in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current portion*	$	1,842.3	$	1,815.1	$	1,686.5	$	1,647.0
Other financing arrangements		46.6		40.4		50.1		45.3

* Excludes finance leases, other financing arrangements and note issuance costs