Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

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

As of June 30, 2024, the fair values of the interest rate swaps and interest rate caps are recorded in the Condensed Consolidated Balance Sheets as follows:

(dollars in millions)	Balance Sheet Location	June 30, 2024		Quoted Prices in active markets Level 1		Significant observable inputs Level 2		Significant unobservable inputs Level 3
Assets:
Interest Rate Swap	Other current assets	$	14.3	$	—	$	14.3	$	—
Interest Rate Swap	Other noncurrent assets	$	5.4	$	—	$	5.4	$	—
Interest Rate Cap	Other current assets	$	4.3	$	—	$	4.3	$	—
Interest Rate Cap	Other noncurrent assets	$	0.8	$	—	$	0.8	$	—

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

(dollars in millions)	Balance Sheet Location	December 31, 2023		Quoted Prices in active markets Level 1		Significant observable inputs Level 2		Significant unobservable inputs 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	$	—

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

The following table summarizes the location of (gains) losses in the Condensed Consolidated Statements of Operations that were recognized during the three and six months ended June 30, 2024 and 2023, in addition to the derivative contract type:

		Three Months Ended June 30,						Six Months Ended June 30,
(dollars in millions)	Statement of Operations Location	2024			2023			2024			2023
Interest Rate Swap	Other income, net	$	(4.7	)	$	(19.4	)	$	(19.8	)	$	(13.6	)
Interest Rate Cap	Other income, net	$	(1.7	)	$	(8.3	)	$	(7.5	)	$	(5.9	)

Schedule of Carrying and Fair Values by Balance Sheet Grouping

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

	June 30, 2024				December 31, 2023
(dollars in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current portion*	$	2,020.4	$	2,010.1	$	1,842.3	$	1,815.1
Other financing arrangements		42.2		37.6		43.6		37.7

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