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Revenue (Tables)
12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Remaining Performance Obligations

The Company expects to recognize the remaining performance obligations as revenue in future periods as follows:

 

 

 

Remaining Performance

 

(millions)

 

Obligations

 

2023

 

$

72.2

 

2024

 

 

47.7

 

2025

 

 

26.3

 

2026

 

 

19.0

 

2027

 

 

6.8

 

2028 and thereafter

 

 

7.4

 

Total

 

$

179.4

 

Schedule of Contract with Customer, Asset and Liabilities

The following table provides information about accounts receivable, contract assets and contract liabilities with customers and clients as of December 31, 2022 and 2021:

 

(millions)

 

2022

 

 

2021

 

Accounts receivable

 

$

169.9

 

 

$

140.8

 

Contract asset

 

 

1.8

 

 

 

2.3

 

Contract liability

 

 

(17.4

)

 

 

(15.7

)

 

Changes in contract assets, which include recognition of additional consideration due from the client, are offset by reclassifications of contract asset balances to accounts receivable when the Company obtains an unconditional right to consideration, thereby establishing an accounts receivable. The following table provides information about changes to contract asset balances during the years ended December 31, 2022 and 2021:

 

(millions)

 

2022

 

 

2021

 

Balance, beginning of year

 

$

2.3

 

 

$

8.6

 

Additional contract assets

 

 

1.8

 

 

 

2.3

 

Reclassification to accounts receivable

 

 

(2.3

)

 

 

(8.6

)

Balance, end of year

 

$

1.8

 

 

$

2.3

 

 

Changes in contract liabilities primarily include additional contract liabilities and reductions of contract liabilities when revenue is recognized. The following table provides information about changes to contract liabilities during the years ended December 31, 2022 and 2021:

 

(millions)

 

2022

 

 

2021

 

Balance, beginning of year

 

$

(15.7

)

 

$

(12.5

)

Acquisitions

 

 

(1.1

)

 

 

 

Additional contract liabilities

 

 

(16.4

)

 

 

(15.7

)

Recognition of revenue from contract liabilities

 

 

15.8

 

 

 

12.5

 

Balance, end of year

 

$

(17.4

)

 

$

(15.7

)

 

Schedule of Contract Cost

Cost of contracts, net, as of December 31, 2022 and 2021 was as follows:

 

 

 

December 31,

 

(millions)

 

2022

 

 

2021

 

Cost of contracts

 

$

23.3

 

 

$

23.3

 

Accumulated amortization

 

 

(20.4

)

 

 

(19.5

)

Cost of contracts, net

 

$

2.9

 

 

$

3.8

 

Schedule of Cost of Contracts Expense

Cost of contracts expense related to service concession arrangements and certain management type contracts are recorded as a reduction of revenue. Cost of contracts expense during the years ended December 31, 2022, 2021 and 2020, which was included in Services revenue within the Consolidated Statements of Income (Loss), was as follows:

 

 

 

Year Ended December 31,

 

(millions)

 

2022

 

 

2021

 

 

2020

 

Cost of contracts expense

 

$

1.0

 

 

$

1.0

 

 

$

1.0

 

Weighted average life (years)

 

 

7.1

 

 

 

7.0

 

 

 

7.8