Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in the Company’s accumulated other comprehensive income (loss) (AOCI), net of tax, by component for 2023:


	Translation		Foreign Currency Hedges		Interest Rate Hedges		Pension and Other Post-retirement Benefits		Other		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2023 (Predecessor)	$	(352.1)	$	(1.9)	$	5.3	$	(12.6)	$	1.3	$	(360.0)
Other comprehensive income (loss) before reclassifications (1)	4.7		—		0.3		—		—		5.0
Amounts reclassified from AOCI	—		—		—		1.3		—		1.3
Net current-period other comprehensive income (loss)	4.7		—		0.3		1.3		—		6.3
Balance at March 31, 2023 (Predecessor)	$	(347.4)	$	(1.9)	$	5.6	$	(11.3)	$	1.3	$	(353.7)
Other comprehensive income (loss) before reclassifications (2)	25.2		—		0.2		—		—		25.4
Amounts reclassified from AOCI	—		—		—		0.8		—		0.8
Net current-period other comprehensive income (loss)	25.2		—		0.2		0.8		—		26.2
Balance at June 30, 2023 (Predecessor)	$	(322.2)	$	(1.9)	$	5.8	$	(10.5)	$	1.3	$	(327.5)
Other comprehensive income (loss) before reclassifications (3)	(1.2)		4.7		2.9		—		—		6.4
Amounts reclassified from AOCI	—		—		—		1.1		—		1.1
Fresh Start adjustments	323.4		(2.8)		(8.7)		9.4		(1.3)		320.0
Net current-period other comprehensive income (loss)	322.2		1.9		(5.8)		10.5		(1.3)		327.5
Balance at August 12, 2023 (Successor)	$	—	$	—	$	—	$	—	$	—	$	—
Other comprehensive income (loss) before reclassifications (4)	(35.8)		—		—		—		—		(35.8)
Amounts reclassified from AOCI	—		—		—		—		—		—
Net current-period other comprehensive income (loss)	(35.8)		—		—		—		—		(35.8)
Balance at September 30, 2023 (Successor)	$	(35.8)	$	—	$	—	$	—	$	—	$	(35.8)

(1) Other comprehensive income (loss) before reclassifications within the translation component excludes $(2.2) of translation attributable to noncontrolling interests.

(2) Other comprehensive income (loss) before reclassifications within the translation component excludes $6.6 of translation attributable to noncontrolling interests.

(3) Other comprehensive income (loss) before reclassifications within the translation component excludes $3.3 of translation attributable to noncontrolling interests.

(4) Other comprehensive income (loss) before reclassifications within the translation component excludes $(0.2) of translation attributable to noncontrolling interests.

The following table summarizes the changes in the Company’s AOCI, net of tax, by component for 2022:


	Translation		Foreign Currency Hedges		Interest Rate Hedges		Pension and Other Post-retirement Benefits		Other		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2022 (Predecessor)	$	(310.9)	$	(1.9)	$	0.4	$	(64.6)	$	(1.5)	$	(378.5)
Other comprehensive income (loss) before reclassifications (1)	10.4		(1.0)		2.9		—		0.7		13.0
Amounts reclassified from AOCI	—		—		(0.6)		0.7		—		0.1
Net current-period other comprehensive income (loss)	10.4		(1.0)		2.3		0.7		0.7		13.1
Balance at March 31, 2022 (Predecessor)	$	(300.5)	$	(2.9)	$	2.7	$	(63.9)	$	(0.8)	$	(365.4)
Other comprehensive income (loss) before reclassifications (2)	(49.6)		0.9		1.8		—		—		(46.9)
Amounts reclassified from AOCI	—		—		—		0.1		—		0.1
Net current-period other comprehensive income (loss)	(49.6)		0.9		1.8		0.1		—		(46.8)
Balance at June 30, 2022 (Predecessor)	$	(350.1)	$	(2.0)	$	4.5	$	(63.8)	$	(0.8)	$	(412.2)
Other comprehensive income (loss) before reclassifications (3)	(38.1)		0.1		0.5		—		—		(37.5)
Amounts reclassified from AOCI	—		—		—		12.9		—		12.9
Net current-period other comprehensive income (loss)	(38.1)		0.1		0.5		12.9		—		(24.6)
Balance at September 30, 2022 (Predecessor)	$	(388.2)	$	(1.9)	$	5.0	$	(50.9)	$	(0.8)	$	(436.8)

(1) Other comprehensive income (loss) before reclassifications within the translation component excludes $(0.8) of translation attributable to noncontrolling interests.:

(2) Other comprehensive income (loss) before reclassifications within the translation component excludes $(2.3) of translation attributable to noncontrolling interests.:

(3) Other comprehensive income (loss) before reclassifications within the translation component excludes $(1.9) of translation attributable to noncontrolling interests.:

The following table summarizes the details about the amounts reclassified from AOCI:


	Successor		Predecessor				Affected Line Item on the Statement of Operations
	Period from		Period from		Three months ended
	08/12/2023 through 09/30/2023		07/01/2023 through 08/11/2023		September 30, 2022

Pension and post-retirement benefits:
Net actuarial gain (loss) amortized (net of tax of $(3.1), and $(0.6) in the Predecessor Periods, respectively)	$	—	$	1.1	$	(1.4)	Miscellaneous, net
Net actuarial losses recognized due to settlement (net of tax of $0.0 and $0.0 in the Predecessor Periods, respectively)	—		—		14.3		Miscellaneous, net
Total reclassifications for the period	$	—	$	1.1	$	12.9


	Successor		Predecessor				Affected Line Item on the Statement of Operations
	Period from		Period from		Nine months ended
	08/12/2023 through 09/30/2023		01/01/2023 through 08/11/2023		September 30, 2022
Interest rate hedge loss	$	—	$	—	$	(0.6)	Interest expense
Pension and post-retirement benefits:
Net actuarial gain (loss) amortized (net of tax of $(3.8), and $(1.0) in the Predecessor Periods, respectively)	—		3.2		(0.6)		Miscellaneous, net
Net actuarial losses recognized due to settlement (net of tax of $0.0 and $0.0 in the Predecessor Periods, respectively)	—		—		14.3		Miscellaneous, net
Total reclassifications for the period	$	—	$	3.2	$	13.1