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Guarantee Arrangements (Tables)
 9 Months Ended
Sep. 30, 2023
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
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Balance at beginning of period

 

$

12.1

 

 

$

12.1

 

 

$

12.2

 

 

$

12.1

 

Provision for new credit guarantees

 

 

0.8

 

 

 

0.4

 

 

 

2.2

 

 

 

2.4

 

Changes for pre-existing guarantees, net

 

 

0.2

 

 

 

(0.1

)

 

 

0.3

 

 

 

(1.2

)

Amortization of previous guarantees

 

 

(0.8

)

 

 

(0.2

)

 

 

(2.3

)

 

 

(1.0

)

Foreign currency translation

 

 

(0.1

)

 

 

(0.2

)

 

 

(0.2

)

 

 

(0.3

)

Balance at end of period

 

$

12.2

 

 

$

12.0

 

 

$

12.2

 

 

$

12.0

 
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
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Balance at beginning of period

 

$

6.0

 

 

$

6.7

 

 

$

6.3

 

 

$

4.0

 

Provision for new credit guarantees

 

 

0.4

 

 

 

0.2

 

 

 

1.2

 

 

 

1.3

 

Changes for pre-existing guarantees, net

 

 

(0.7

)

 

 

(0.2

)

 

 

(1.8

)

 

 

1.6

 

Foreign currency translation

 

 

—

 

 

 

(0.2

)

 

 

—

 

 

 

(0.4

)

Balance at end of period

 

$

5.7

 

 

$

6.5

 

 

$

5.7

 

 

$

6.5