Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

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, 2022, 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, 2022		Quoted Prices in active markets Level 1		Significant observable inputs Level 2		Significant unobservable inputs Level 3
Assets:
Interest Rate Swap	Other current assets	$	0.3	$	—	$	0.3	$	—
Liabilities:
Interest Rate Swap	Other noncurrent liabilities	$	1.7	$	—	$	1.7	$	—
Interest Rate Cap	Other current liabilities	$	2.1	$	—	$	2.1	$	—
Interest Rate Cap	Other noncurrent liabilities	$	7.9	$	—	$	7.9	$	—

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

The following table summarizes the location of losses in the Condensed Consolidated Statements of Operations that were recognized during the three and six months ended June 30, 2022, in addition to the derivative contract type:

(dollars in millions)	Statement of Operations Location	Three Months Ended June 30, 2022		Six Months Ended June 30, 2022
Interest Rate Swap	Other expense (income), net	$	1.9	$	1.9
Interest Rate Cap	Other expense (income), net	$	10.3	$	10.3

Amount of Gains Recognized in Accumulated Other Comprehensive Income ("AOCI") Net of Reclassification into Earnings

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

	Predecessor
(dollars in millions)	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
Interest Rate Swap	$	2.2	$	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:

		Predecessor
(dollars in millions)	Statement of Operations Location	Three Months Ended June 30, 2021			Six Months Ended June 30, 2021
Interest Rate Swap	Interest Expense	$	(2.3	)	$	(4.6	)

Schedule of Carrying and Fair Values by Balance Sheet Grouping

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

	June 30, 2022				December 31, 2021
(dollars in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current portion*	$	1,535.9	$	1,482.5	$	1,443.0	$	1,443.0
Other financing arrangements		51.6		45.3		53.1		51.7

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