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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present the fair value of those assets and (liabilities) measured on a recurring basis as of September 30, 2023 and December 31, 2022, (in millions):

									Fair Value Measurements at
									September 30, 2023
			Condensed Consolidated Balance Sheet Location						Total						Quoted Prices in Active Markets (Level 1)						Significant Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets
Derivative financial instruments - interest rate swaps			Prepaid expenses and other assets						$	9.6					$	—					$	9.6					$	—

									Fair Value Measurements at
									December 31, 2022
			Condensed Consolidated Balance Sheet Location						Total						Quoted Prices in Active Markets (Level 1)						Significant Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets
Derivative financial instruments - interest rate swaps			Prepaid expenses and other assets						$	5.5					$	—					$	5.5					$	—
Liabilities
Derivative financial instruments - interest rate swaps			Accrued and other liabilities						$	(2.8)					$	—					$	(2.8)					$	—

Schedule of Fair Value of the Long-Lived Assets Held-for-sale

The following table presents the fair value hierarchy and quantitative information about the significant unobservable inputs used to determine the fair value of long-lived assets held and used and assets held for sale, net for which a nonrecurring fair value adjustment was recorded (in millions):

						Fair Value Measurements at																														Quantitative Information about
						December 31, 2022																														Level 3 Fair Value Measurements
						Total						Quoted Prices in Active Markets (Level 1)						Significant Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total Gains (Losses)						Valuation Technique/ Unobservable Inputs												Weighted Average Discount Rate
Assets held for sale, net1,2						$	50.0					$	—					$	—					$	50.0					$	(89.8)					Indicative bids												N/A
Long-lived assets3						—						—						—						—						(5.0)						Discounted cash flows/												16%
																																				Market comparables												N/A
Total						$	50.0					$	—					$	—					$	50.0					$	(94.8)
1 Assets or liabilities are presented in Assets held for sale or Liabilities associated with assets held for sale, respectively, in the Condensed Consolidated Balance Sheets. Impairment loss is presented in Income (loss) from discontinued operations, net of income taxes in the Condensed Consolidated Statements of Operations.
2 Assets held for sale of $126.8 million, net of liabilities associated with assets held for sale of $81.0 million, and excluding estimated selling costs of $4.2 million.
3 Included in Real estate property in the Condensed Consolidated Balance Sheets. Impairment loss is presented in Cost of Land Operations in the Condensed Consolidated Statements of Operations and is recognized in the Land Operations segment.

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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X

- References

No definition available.

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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