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Leases Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Components of Lease Expense | The components of lease expense are as follows (in millions):
| Successor |  |  | Predecessor
| Year Ended December 31, 2023 |  | Year Ended December 31, 2022 |  | Eight Months Ended December 31, 2021 |  |  | Four Months Ended April 30, 2021
Long-term operating lease cost | $ | 24.6 |  |  | $ | 13.4 |  |  | $ | 12.9 |  |  |  | $ | 9.1 |
Short-term operating lease cost | 13.2 |  |  | 15.2 |  |  | 14.3 |  |  |  | 6.3 |
Variable lease cost (1) | 11.3 |  |  | 1.0 |  |  | 1.0 |  |  |  | 0.7 |
Total operating lease cost | $ | 49.1 |  |  | $ | 29.6 |  |  | $ | 28.2 |  |  |  | $ | 16.1 |
Supplemental Balance Sheet Information | Supplemental balance sheet information related to our operating leases is as follows (in millions, except lease term and discount rate):
| December 31, 2023 |  | December 31, 2022
Operating lease right-of-use assets | $ | 74.6 |  | $ | 21.0
Current lease liability | $ | 27.2 |  | $ | 9.4
Long-term lease liability | 48.9 |  | 13.8
Total operating lease liabilities | $ | 76.1 |  | $ | 23.2
Weighted-average remaining lease term (in years) | 3.6 |  | 5.0
Weighted-average discount rate (1) | 8.21 | % |  | 7.48 | %
(1)Represents our estimated incremental borrowing cost on a secured basis for similar terms as the underlying leases. Supplemental cash flow information related to our operating leases is as follows (in millions):
| Successor |  |  | Predecessor
| Year Ended December 31, 2023 |  | Year Ended December 31, 2022 |  | Eight Months Ended December 31, 2021 |  |  | Four Months Ended April 30, 2021
ROU assets obtained in exchange for operating lease liabilities | $ | 80.3 |  |  | $ | 14.7 |  |  | $ | 0.9 |  |  |  | $ | 5.5 |
Cash paid for amounts included in the measurement of our operating lease liabilities | $ | 26.2 |  |  | $ | 14.0 |  |  | $ | 11.7 |  |  |  | $ | 7.1 |
Maturities of Lease Liabilities | Maturities of lease liabilities as of December 31, 2023 were as follows (in millions):
2024 | $ | 32.4 |
2025 | 20.5 |
2026 | 19.1 |
2027 | 10.0 |
2028 | 2.4 |
Thereafter | 3.7 |
Total lease payments | $ | 88.1 |
Less imputed interest | (12.0) |
Total | $ | 76.1 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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- Definition Assets and Liabilities, Lessee [Table Text Block] + References No definition available. + Details
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