PRODUCT WARRANTIES

12 Months Ended

Dec. 31, 2023

Guarantees and Product Warranties [Abstract]

PRODUCT WARRANTIES

PRODUCT WARRANTIES

The Company provides its customers a standard manufacturer’s warranty and records, at the time of the sale, a corresponding estimated liability for potential warranty costs. Estimated future obligations due to warranty claims are based upon historical factors such as labor rates, average repair time, travel time, number of service calls per machine and cost of replacement parts.

Changes in the Company’s warranty liability balance are illustrated in the following table:

	Successor		Predecessor
	Period from 08/12/2023 through 12/31/2023		Period from 01/01/2023 through 08/11/2023		Year ended December 31, 2022
Beginning balance	$	26.6	$	28.3	$	36.3
Accruals	16.3		18.8		19.5
Settlements	(14.6)		(21.9)		(26.4)
Currency translation	(0.3)		1.4		(1.1)
Ending balance	$	28.0	$	26.6	$	28.3