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Guarantee Arrangements (Tables)
6 Months Ended
Jun. 30, 2024
Non-Contingent Portion  
Guarantor Obligations [Line Items]  
Schedule of Provision for Losses on Customer Guarantees

Changes in the Company’s stand ready obligations (non-contingent) to perform under guarantees were as follows (in millions):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

12.2

 

 

$

12.2

 

 

$

12.4

 

 

$

12.2

 

Provision for new credit guarantees

 

 

0.7

 

 

 

0.6

 

 

 

1.3

 

 

 

1.4

 

Changes to pre-existing guarantees, net

 

 

 

 

 

0.1

 

 

 

(0.4

)

 

 

0.1

 

Amortization of previous guarantees

 

 

(0.4

)

 

 

(0.7

)

 

 

(0.8

)

 

 

(1.5

)

Foreign currency translation

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.1

)

Balance at end of period

 

$

12.4

 

 

$

12.1

 

 

$

12.4

 

 

$

12.1

 

Contingent Portion  
Guarantor Obligations [Line Items]  
Schedule of Provision for Losses on Customer Guarantees

Changes in the Company’s off-balance sheet credit loss exposure (contingent) related to its guarantees were as follows (in millions):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

5.2

 

 

$

6.2

 

 

$

5.8

 

 

$

6.3

 

Provision for new credit guarantees

 

 

0.3

 

 

 

0.3

 

 

 

0.5

 

 

 

0.8

 

Changes to pre-existing guarantees, net

 

 

 

 

 

(0.4

)

 

 

(0.8

)

 

 

(1.1

)

Foreign currency translation

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.1

)

 

 

 

Balance at end of period

 

$

5.4

 

 

$

6.0

 

 

$

5.4

 

 

$

6.0