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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments The table below presents the fair value of the Company’s derivatives on a gross basis and the balance sheet classification of those instruments:
Fair Value of Derivatives At
March 31, 2024December 31, 2023
Balance Sheet ClassificationAssetLiability
Notional
AssetLiability
Notional
Derivatives designated as hedging instruments:
Interest rate swapsPrepaid expenses and other/
Other liabilities		$1.1 $(0.9)$150.0 $0.7 $(2.6)$150.0 
Derivatives not designated as hedging instruments:
Foreign currency forward contractsPrepaid expenses and other/
Other current liabilities		$0.6 $(0.6)$477.9 $0.8 $— $458.3 
The following table presents the pre-tax effects of cash flow hedges included in the Company’s condensed consolidated and combined statements of comprehensive income (loss):
Pre-Tax Gain (Loss) Included in Other Comprehensive Income
Three Months Ended March 31,
20242023
Interest rate swaps$2.5 $— 
The following table presents amounts reclassified out of accumulated other comprehensive loss and recognized in condensed consolidated and combined statements of operations:
Amounts Reclassified from Other Comprehensive Loss into Earnings
Three Months Ended March 31,
Statement of Operations Classification20242023
Deferred gain (loss) reclassified into earningsInterest expense$(0.4)$— 
The following table presents a summary of the loss for derivative contracts not designated as hedges included in the Company’s condensed consolidated and combined statements of operations:
Gain (Loss) on Derivatives Recognized in Earnings
Three Months Ended March 31,
Statement of Operations Classification20242023
Foreign currency forward contractsForeign exchange gain (loss)$(0.8)$—