RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Financing Receivable Credit Quality Indicators

The table below summarizes the amortized cost basis of financial assets by years of origination and credit quality. The key credit quality indicator is updated as of December 31, 2023.


	December 31, 2023				December 31, 2022
(In millions)	Credit rating	Year of origination	Balance		Credit rating	Year of origination	Balance
Loans receivables and other	Moody’s rating A3 - Ba2	2020-2023	$	138.1	Moody’s rating Aa3-Ba2	2020-2022	$	51.0
Debt securities at amortized cost	Moody’s rating B3	2021	1.4		Moody’s rating B3	2021	16.2
Total financial assets			$	139.5			$	67.2

Schedule of Financing Receivable, Allowance for Credit Loss

The table below shows the roll-forward of allowance for credit losses as of December 31, 2023 and 2022, respectively.


	Balance as of December 31, 2023
(In millions)	Trade receivables		Contract assets		Loans receivables and other		Held-to-maturity debt securities
Allowance for credit losses at December 31, 2022	$	34.1	$	1.1	$	0.3	$	0.2
Current period provision (release) for expected credit losses	1.3		0.3		2.0		(0.2)

Recoveries	(1.0)		—		—		—
Allowance for credit losses at December 31, 2023	$	34.4	$	1.4	$	2.3	$	—


	Balance as of December 31, 2022
(In millions)	Trade receivables		Contract assets		Loans receivables and other		Held-to-maturity debt securities
Allowance for credit losses at December 31, 2021	$	38.1	$	1.1	$	0.6	$	2.7
Current period provision (release) for expected credit losses	0.7		—		(0.3)		(2.5)

Recoveries	(4.7)		—		—		—
Allowance for credit losses at December 31, 2022	$	34.1	$	1.1	$	0.3	$	0.2