Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The table below sets forth our financial assets and liabilities (in millions) that required disclosure of fair value on a recurring basis as of December 31, 2022. The table presents the carrying values and fair values of our financial instruments as of December 31, 2022 and 2021, that were measured using the valuation techniques described in Note 1, "Significant Accounting Policies,". The table excludes other financial instruments such as other receivables and accounts payable as the carrying values associated with these instruments approximate their fair value since their maturities are less than one year. These are classified as Level 1 in the hierarchy.

	December 31, 2022
Financial Assets	Carrying Value		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash, cash equivalents and restricted cash	$	90.4	$	90.4	$	—	$	—	$	90.4
Marketable securities	127.3		127.3		—		—		127.3
Installment notes receivable on manufactured homes, net	65.9		—		—		65.9		65.9
Notes receivable from real estate developers and operators	305.2		—		—		305.2		305.2
Derivative assets	32.0		—		32.0		—		32.0
Total assets measured at fair value	$	620.8	$	217.7	$	32.0	$	371.1	$	620.8
Financial Liabilities
Secured debt	$	3,217.8	$	—	$	3,217.8	$	—	$	2,814.1
Unsecured debt
Senior unsecured notes	1,779.6		—		1,779.6		—		1,432.7
Line of credit and other unsecured debt	2,199.8		—		2,199.8		—		2,199.8
Total unsecured debt	3,979.4		—		3,979.4		—		3,632.5
Other financial liabilities (contingent consideration)	20.2		—		—		20.2		20.2
Total liabilities measured at fair value	$	7,217.4	$	—	$	7,197.2	$	20.2	$	6,466.8

	December 31, 2021
Financial Assets	Carrying Value		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash, cash equivalents and restricted cash	$	78.2	$	78.2	$	—	$	—	$	78.2
Marketable securities	186.9		186.9		—		—		186.9
Installment notes receivable on manufactured homes, net	79.1		—		—		79.1		79.1
Notes receivable from real estate developers and operators	284.0		—		—		284.0		284.0
Derivative assets	0.4		—		0.4		—		0.4
Total assets measured at fair value	$	628.6	$	265.1	$	0.4	$	363.1	$	628.6
Financial Liabilities
Secured debt	$	3,380.7	$	—	$	3,380.7	$	—	$	3,405.9
Unsecured debt
Senior unsecured notes	1,186.4		—		1,186.4		—		1,201.8
Line of credit and other unsecured debt	1,104.7		—		1,104.7		—		1,104.7
Total unsecured debt	2,291.1		—		2,291.1		—		2,306.5
Other financial liabilities (contingent consideration)(1)	20.2		—		—		20.2		20.2
Total liabilities measured at fair value	$	5,692.0	$	—	$	5,671.8	$	20.2	$	5,732.6

(1) Balance updated during the three months ended March 31, 2022 to include contingent consideration related to a marina acquisition. This contingent consideration was included within Other liabilities on the Consolidated Balance Sheets at December 31, 2021.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The change in the marketable securities balance is as follows (in millions):

	Year Ended
	December 31, 2022		December 31, 2021
Beginning Balance	$	186.9	$	124.7
Additional purchases	—		35.5
Change in fair value measurement	(53.4)		33.4
Foreign currency translation adjustment	(7.7)		(9.2)
Dividend reinvestment, net of tax	1.5		2.5
Ending Balance	$	127.3	$	186.9

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

The following tables summarize changes to our financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the year ended December 31, 2022 and 2021 (in millions):

	Year Ended
	December 31, 2022						December 31, 2021
Assets:	Installment Notes Receivable on MH, net		Notes Receivable From Real Estate Developers and Operators		Warrants		Installment Notes Receivable on MH, net		Notes Receivable From Real Estate Developers and Operators
Level 3 beginning balance at December 31, 2022 and 2021	$	79.1	$	284.0	$	—	$	—	$	—
Transfer to level 3	—		—				85.9		52.6
Realized gains / (losses)(1)	(0.8)		—		(3.4)		0.7		—
Purchases and issuances	1.0		79.3		3.4		8.6		239.7
Sales and settlements	(13.4)		(34.9)		—		(14.6)		(13.0)
Dispositions of properties	—		—		—		(1.9)		—
Foreign currency exchange losses	—		(23.3)		—		—		—
Other adjustments	—		0.1		—		0.4		4.7
Level 3 ending balance at December 31, 2022 and 2021	$	65.9	$	305.2	$	—	$	79.1	$	284.0

	Year Ended
	December 31, 2022		December 31, 2021
Liabilities:	Other Liabilities (Contingent Consideration)		Other Liabilities (Contingent Consideration)
Level 3 beginning balance at December 31, 2022 and 2021	$	20.2	$	15.8
Realized losses(1)	—		9.3
Purchases and issuances	—		26.5
Sales and settlements	—		(33.7)
Other adjustments	—		2.3
Level 3 ending balance at December 31, 2022 and 2021	$	20.2	$	20.2

(1) Includes realized gains / losses recorded in earnings within the following line items on the Consolidated Income Statements: Warrants - Income from nonconsolidated affiliates; Installment Notes Receivable on MH, net - Gain / (loss) on remeasurement of notes receivable; Contingent Consideration - Other expense, net.