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v3.23.3

Property, Plant, and Equipment (Tables) | 9 Months Ended
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Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | The following is a summary of property, plant, and equipment:
|  |  | Successor |  |  | Predecessor
| Estimated Useful Life (years) |  | September 30, 2023 |  |  | December 31, 2022
Land and land improvements | (1) |  | $ | 20.8 |  |  |  | $ | 10.0 |
Buildings and building improvements | 15-30 |  | 40.9 |  |  |  | 68.3 |
Machinery, tools and equipment | 5-12 |  | 34.3 |  |  |  | 81.8 |
Leasehold improvements (2) | 10 |  | 6.5 |  |  |  | 17.2 |
Computer equipment | 3 |  | 17.7 |  |  |  | 101.1 |
Computer software | 5-10 |  | 6.1 |  |  |  | 127.8 |
Furniture and fixtures | 5-8 |  | 17.4 |  |  |  | 54.6 |
Tooling | 3-5 |  | 10.9 |  |  |  | 134.7 |
Construction in progress |  |  | 13.0 |  |  |  | 4.6 |
Total property plant and equipment, at cost |  |  | $ | 167.6 |  |  |  | $ | 600.1 |
Less accumulated depreciation and amortization |  |  | (8.6) |  |  |  | (479.4) |
Total property, plant, and equipment, net |  |  | $ | 159.0 |  |  |  | $ | 120.7 |
(1)Estimated useful life for land and land improvements is perpetual and 15 years, respectively. (2)The estimated useful life for leasehold improvements is the lesser of 10 years or the term of the lease. Depreciation expense is computed on a straight-line basis over the estimated useful lives of the related assets. Depreciation expense was as follows:
| Successor |  |  | Predecessor
| Period from |  |  | Period from |  | Three months ended
| 08/12/2023 through 09/30/2023 |  |  | 07/01/2023 through 08/11/2023 |  | September 30, 2022
Depreciation expense | $ | 5.4 |  |  |  | $ | 5.8 |  |  | $ | 6.7 |
| Period from |  |  | Period from |  | Nine months ended
| 08/12/2023 through 09/30/2023 |  |  | 01/01/2023 through 08/11/2023 |  | September 30, 2022
Depreciation expense | $ | 5.4 |  |  |  | $ | 18.3 |  |  | $ | 23.0 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1 + Details
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