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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Restrictions on Cash and Cash Equivalents
Total cash, cash equivalents and restricted cash consisted of the following:
December 31,
(in millions)20242023
Cash and cash equivalents$117.4 $74.9 
Restricted cash1,592.3 — 
Cash, cash equivalents and restricted cash$1,709.7 $74.9 
Schedule of Cash, Cash Equivalents, and Restricted Cash
Total cash, cash equivalents and restricted cash consisted of the following:
December 31,
(in millions)20242023
Cash and cash equivalents$117.4 $74.9 
Restricted cash1,592.3 — 
Cash, cash equivalents and restricted cash$1,709.7 $74.9 
Schedule of Inventory, Current Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method and consist of the following:
December 31,
(in millions)20242023
Finished goods$300.5 $335.4 
Work-in-process16.1 16.5 
Raw materials and supplies130.4 131.2 
$447.0 $483.1 
Schedule of Property, Plant and Equipment Property, plant and equipment are carried at cost at acquisition date and are depreciated using the straight-line method over their estimated useful lives as follows:
Estimated
Useful Lives
(in years)
Buildings
25-30
Computer equipment and software
3-7
Leasehold improvements
4-7
Machinery and equipment
3-7
Office furniture and fixtures
5-7
 
The Company records depreciation and amortization in cost of sales for long-lived assets used in the manufacturing process, and within each line item of operating expenses for all other long-lived assets. Leasehold improvements are amortized over the shorter of the life of the lease or seven years. Assets under finance leases are included within property, plant and equipment and represent non-cash investing activities.

Property, plant and equipment, net consisted of the following:
December 31,
(in millions)20242023
Machinery and equipment$713.0 $599.1 
Land and buildings635.3 526.3 
Computer equipment and software256.0 247.3 
Furniture and fixtures106.1 99.8 
Construction in progress54.0 250.2 
Total property, plant and equipment1,764.4 1,722.7 
Accumulated depreciation(953.3)(844.4)
Total property, plant and equipment, net$811.1 $878.3 
Changes in Accrued Sales Returns
The Company had the following activity for accrued sales returns from December 31, 2022 to December 31, 2024:
 (in millions)
Balance as of December 31, 2022$40.5 
Amounts accrued208.2 
Returns charged to accrual(205.0)
Balance as of December 31, 202343.7 
Amounts accrued209.9 
Returns charged to accrual(209.4)
Balance as of December 31, 2024$44.2 
Warranty Activity
The Company had the following activity for its accrued warranty expense from December 31, 2022 to December 31, 2024:
 (in millions)
Balance as of December 31, 2022$41.6 
Amounts accrued19.6 
Warranties charged to accrual(20.4)
Balance as of December 31, 202340.8 
Amounts accrued8.1 
Warranties charged to accrual(15.3)
Balance as of December 31, 2024$33.6 
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The Company had the following activity for its allowance for credit losses from December 31, 2022 to December 31, 2024.
(in millions)
Balance as of December 31, 2022
$62.4 
Amounts accrued8.2 
Write-offs charged against the allowance(3.7)
Balance as of December 31, 2023
66.9 
Amounts accrued 22.5 
Write-offs charged against the allowance(9.0)
Balance as of December 31, 2024
$80.4 
Schedule of Long-term Debt Instruments The fair value of the following material financial instruments were based on Level 2 inputs, which include observable inputs estimated using discounted cash flows and market-based expectations for interest rates, credit risk and the contractual terms of debt instruments:
Fair Value
(in millions)December 31, 2024December 31, 2023
2029 Senior Notes$739.1 $724.2 
2031 Senior Notes698.2 677.6