Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Employee Benefit Plans

Schedule of funded status of the defined benefit plans and amounts recognized in the consolidated balance sheets

	Year Ended
	December 31, 2023
	(in millions)
Change in projected benefit obligation
Balance at beginning of period (October 23, 2023)	$	68.0
Service cost		—
Administration costs paid		—
Interest cost		0.7
Actuarial loss (gain)		5.5
Benefits paid		(0.7)
Balance at end of year	$	73.5
Change in fair value of plan assets
Balance at beginning of period (October 23, 2023)	$	67.9
Actual gain (loss) on assets		7.2
Employer contributions		—
Administration costs paid		—
Benefits paid		(0.7)
Fair value of plan assets at end of the year	$	74.4
Funded (underfunded) status at end of year	$	0.9

	December 31, 2023
	(in millions)
Current liabilities	$	—
Noncurrent assets (liabilities)		0.9
Net amount recognized	$	0.9

Schedule of amounts recognized in accumulated other comprehensive income

	December 31, 2023
	(in millions)
Net actuarial gain recognized	$	(0.9)

Schedule of the components of net periodic benefit cost

	Year Ended
	December 31, 2023
	(in millions)
Service cost - benefits earned	$	—
Interest costs on benefit obligation		0.7
Expected return on assets		(0.7)
Net actuarial loss amortization	$	—
Net periodic benefit cost	$	—

Schedule of weighted average assumptions used to determine benefit obligations

	December 31, 2023
	(in millions)
Discount rate	4.64	%

Schedule of weighted-average assumptions used to determine net periodic benefit costs

	December 31, 2023
	(in millions)
Discount rate	5.36	%
Long-term rate of return on assets	5.60	%

Schedule of the weighted average asset allocations by asset category

	December 31, 2023
	(in millions)
Asset Category
Cash	39	%
Equity	-
Fixed Income	61
Total	100	%

Schedule of the investments in the pension plan measured at fair value

	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Cash	$	28.9	$	—	$	—	$	28.9
Fixed income securities
Corporate notes		—		31.7		—		31.7
Treasury notes		12.7		—		—		12.7
Other investments(a)	$	1.7	$	—	$	—	$	1.7
Total investments	$	43.3	$	31.7	$	—	$	75.0

(a) Includes Aetna Co. Annuity Contract and accrued interest and dividends

Information related to the company's pension funds cash flow

	Year Ended
	December 31, 2023
	(in millions)
Employer contributions	$	—
Benefit payments	$	0.7

Schedule of expected benefit payments to be paid by the pension plans

	(in millions)
During fiscal year ending December 31, 2024	$	73.5
During fiscal year ending December 31, 2025		N/A (1)
During fiscal year ending December 31, 2026		N/A (1)
During fiscal year ending December 31, 2027		N/A (1)
During fiscal year ending December 31, 2028		N/A (1)
During fiscal year ending December 31, 2029 through December 31, 2033		N/A (1)

(1) Benefits under the Pension Plan are expected to be distributed by December 31, 2024.