v3.24.1.1.u2
IMMATERIAL FINANCIAL RESTATEMENT AND RECLASSIFICATIONS TO PRIOR PERIOD FINANCIAL STATEMENTS - Statements of Cash Flow (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2023
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:                
Net income (loss) $ (101.0) $ (14.0) $ 30.8 $ 12.5 $ 43.3 $ 29.3 $ (25.2) $ 186.2
Adjustments to reconcile net income to net cash provided by (used for) operating activities:                
Depreciation and amortization 23.5     23.1 48.6 73.6 98.0 93.6
Stock compensation 15.1     6.7 16.1 27.2 42.7 25.4
Operating lease right-of-use asset expense 6.2     7.8 14.3 20.9 27.4 24.9
Long-lived and goodwill asset impairments       0.0   0.0 0.0 9.8
Deferred income taxes 4.2     (3.6) (4.5) (13.3) (41.6) (16.5)
Other, net (12.1)     0.9 6.5 3.5 (1.0) 4.1
Changes in assets and liabilities:                
Decrease in accounts receivable and unbilled services, net 40.5     27.3 11.4 (23.1) (25.6) (105.0)
Increase in prepaid expenses and other (25.5)     (19.1) (17.2) 0.6 (3.4) (9.1)
Increase (decrease) in accounts payable (0.9)     20.4 19.9 45.9 55.3 24.8
Increase (decrease) in unearned revenue 26.4     (12.9) (5.5) (6.0) (2.2) (30.1)
Decrease in accrued expenses and other (26.0)     (65.1) 15.2 (8.6) 30.6 (125.4)
Net cash used for operating activities (25.6)     (2.0) 148.1 150.0 168.4 82.7
CASH FLOWS FROM INVESTING ACTIVITIES:                
Capital expenditures (9.3)     (16.2) (25.8) (30.9) (40.3) (54.4)
Proceeds from sale of assets 0.1     0.0 0.3 8.1 8.5 0.4
Net cash used for investing activities (9.2)     (16.2) (25.5) (22.8) (31.8) (54.0)
CASH FLOWS FROM FINANCING ACTIVITIES:                
Proceeds from revolving credit facilities 271.0     0.0 0.0 24.0 164.0  
Payments on revolving credit facilities (242.0)     0.0 0.0 (24.0) (164.0)  
Proceeds from term loans         1,061.4 1,061.4 1,061.4  
Proceeds from issuance of senior notes         570.0 570.0 570.0  
Debt issuance costs         (26.4) (26.4) (26.4)  
Principal payments of long-term debt (7.7)     0.0 0.0 (7.7) (15.4)  
Special payment to Former Parent         (1,595.0) (1,595.0) (1,595.0)  
Net transfers to Former Parent 0.0     24.5 (135.4) (135.4) (135.4) (6.3)
Net cash provided by financing activities 21.3     24.5 (125.4) (133.1) (140.8) (6.3)
Effect of exchange rate changes on cash and cash equivalents (2.3)     1.5 1.3 (0.7) 2.4 (6.6)
Net change in cash and cash equivalents (15.8)     7.8 (1.5) (6.6) (1.8) 15.8
Cash and cash equivalents at beginning of period 108.6 108.9 118.2 110.4 110.4 110.4 110.4 94.6
Cash and cash equivalents at end of period 92.8 103.8 108.9 118.2 108.9 103.8 108.6 110.4
As Previously Reported                
CASH FLOWS FROM OPERATING ACTIVITIES:                
Net income (loss)   (13.1) 28.3 17.4 45.7 32.6 (3.4) 192.9
Adjustments to reconcile net income to net cash provided by (used for) operating activities:                
Depreciation and amortization       22.8 47.9 72.5 96.4 92.7
Stock compensation       6.7 16.1 27.2 42.7 25.4
Operating lease right-of-use asset expense       7.8 14.3 20.9 27.4 24.9
Long-lived and goodwill asset impairments       0.0   0.0 0.0 9.8
Deferred income taxes       (3.7) (3.9) (12.7) (40.5) (16.5)
Other, net       0.8 6.5 3.5 (1.0) 4.1
Changes in assets and liabilities:                
Decrease in accounts receivable and unbilled services, net       26.8 7.8 (26.6) (28.8) (105.0)
Increase in prepaid expenses and other       (18.6) (16.0) (3.1) (2.0) (12.2)
Increase (decrease) in accounts payable       20.9 23.7 47.3 51.1 22.4
Increase (decrease) in unearned revenue       (13.9) (7.7) (6.5) (3.4) (32.5)
Decrease in accrued expenses and other       (63.6) 19.8 (0.1) 28.9 (118.5)
Net cash used for operating activities       3.4 154.2 155.0 167.4 87.5
CASH FLOWS FROM INVESTING ACTIVITIES:                
Capital expenditures       (16.2) (25.8) (30.9) (40.3) (54.4)
Proceeds from sale of assets       0.0 0.3 8.1 8.5 0.4
Net cash used for investing activities       (16.2) (25.5) (22.8) (31.8) (54.0)
CASH FLOWS FROM FINANCING ACTIVITIES:                
Proceeds from revolving credit facilities         0.0 24.0 164.0  
Payments on revolving credit facilities         0.0 (24.0) (164.0)  
Proceeds from term loans         1,061.4 1,061.4 1,061.4  
Proceeds from issuance of senior notes         570.0 570.0 570.0  
Debt issuance costs         (26.4) (26.4) (26.4)  
Principal payments of long-term debt         0.0 (7.7) (15.4)  
Special payment to Former Parent         (1,595.0) (1,595.0) (1,595.0)  
Net transfers to Former Parent       19.9 (136.7) (136.7) (133.6) (8.7)
Net cash provided by financing activities       19.9 (126.7) (134.4) (139.0) (8.7)
Effect of exchange rate changes on cash and cash equivalents       1.1 0.3 (2.3) 0.0 (7.4)
Net change in cash and cash equivalents       8.2 2.3 (4.5) (3.4) 17.4
Cash and cash equivalents at beginning of period 108.6 114.3 120.2 112.0 112.0 112.0 112.0 94.6
Cash and cash equivalents at end of period   107.5 114.3 120.2 114.3 107.5 108.6 112.0
Adjustments                
CASH FLOWS FROM OPERATING ACTIVITIES:                
Net income (loss)   (0.9) 2.5 (4.9) (2.4) (3.3) (21.8) (6.7)
Adjustments to reconcile net income to net cash provided by (used for) operating activities:                
Depreciation and amortization       0.3 0.7 1.1 1.6 0.9
Stock compensation       0.0 0.0 0.0 0.0 0.0
Operating lease right-of-use asset expense       0.0 0.0 0.0 0.0 0.0
Long-lived and goodwill asset impairments       0.0   0.0 13.4 0.0
Deferred income taxes       0.1 (0.6) (0.6) (1.1) 0.0
Other, net       0.1 0.0 0.0 0.0 0.0
Changes in assets and liabilities:                
Decrease in accounts receivable and unbilled services, net       0.5 3.6 3.5 3.2 0.0
Increase in prepaid expenses and other       (0.5) (1.2) 3.7 (1.4) 3.1
Increase (decrease) in accounts payable       (0.5) (3.8) (1.4) 4.2 2.4
Increase (decrease) in unearned revenue       1.0 2.2 0.5 1.2 2.4
Decrease in accrued expenses and other       (1.5) (4.6) (8.5) 1.7 (6.9)
Net cash used for operating activities       (5.4) (6.1) (5.0) 1.0 (4.8)
CASH FLOWS FROM INVESTING ACTIVITIES:                
Capital expenditures       0.0 0.0 0.0 0.0 0.0
Proceeds from sale of assets       0.0 0.0 0.0 0.0 0.0
Net cash used for investing activities       0.0 0.0 0.0 0.0 0.0
CASH FLOWS FROM FINANCING ACTIVITIES:                
Proceeds from revolving credit facilities         0.0 0.0 0.0  
Payments on revolving credit facilities         0.0 0.0 0.0  
Proceeds from term loans         0.0 0.0 0.0  
Proceeds from issuance of senior notes         0.0 0.0 0.0  
Debt issuance costs         0.0 0.0 0.0  
Principal payments of long-term debt         0.0 0.0 0.0  
Special payment to Former Parent         0.0 0.0 0.0  
Net transfers to Former Parent       4.6 1.3 1.3 (1.8) 2.4
Net cash provided by financing activities       4.6 1.3 1.3 (1.8) 2.4
Effect of exchange rate changes on cash and cash equivalents       0.4 1.0 1.6 2.4 0.8
Net change in cash and cash equivalents       (0.4) (3.8) (2.1) 1.6 (1.6)
Cash and cash equivalents at beginning of period $ 0.0 (5.4) (2.0) (1.6) (1.6) (1.6) (1.6) 0.0
Cash and cash equivalents at end of period   $ (3.7) $ (5.4) $ (2.0) $ (5.4) $ (3.7) 0.0 (1.6)
As Restated                
Adjustments to reconcile net income to net cash provided by (used for) operating activities:                
Long-lived and goodwill asset impairments             $ 13.4 $ 9.8