Finance Lease Receivables

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Finance Lease Receivables

Finance Lease Receivables

Under certain circumstances, the Company provides financing arrangements to customers that are largely classified and accounted for as sales-type leases. The Company records interest income and any fees or costs related to financing receivables using the effective interest method over the term of the lease.

The following table presents the components of finance lease receivables:

	Successor
	March 31, 2024		December 31, 2023
Gross minimum lease receivables	$	23.1	$	24.4
Allowance for credit losses	(0.1)		(0.2)
	23.0		24.2
Less:
Unearned interest income	(0.8)		(0.9)
Total	$	22.2	$	23.3

Future minimum payments due from customers under finance lease receivables as of March 31, 2024 are as follows:

2024	$	6.2
2025	5.4
2026	3.8
2027	2.8
2028	2.4
Thereafter	2.5
	$	23.1

There were no significant changes in provision for credit losses, recoveries and write-offs during the three months ended March 31, 2024 (Successor) or 2023 (Predecessor).