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SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Inventories | Inventories at year-end were as follows:
(In millions) |  | 2022 |  | 2021
Raw materials |  | $ | 457.6 |  |  | $ | 393.6 |
Work-in-progress |  | 255.1 |  |  | 233.1 |
Finished goods |  | 297.2 |  |  | 280.5 |
Inventories |  | $ | 1,009.9 |  |  | $ | 907.2 |
Schedule of Property, Plant and Equipment | Major classes of property, plant and equipment, stated at cost, at year-end were as follows:
(In millions) |  | 2022 |  | 2021
Land |  | $ | 29.3 |  |  | $ | 28.6 |
Buildings and improvements |  | 781.0 |  |  | 777.6 |
Machinery and equipment |  | 2,667.8 |  |  | 2,582.2 |
Construction-in-progress |  | 269.6 |  |  | 237.8 |
Property, plant and equipment |  | 3,747.7 |  |  | 3,626.2 |
Accumulated depreciation |  | (2,207.5) |  |  | (2,148.5) |
Property, plant and equipment, net |  | $ | 1,540.2 |  |  | $ | 1,477.7 |
Schedule of Capitalized Software Costs | Capitalized software costs at year-end were as follows:
(In millions) |  | 2022 |  | 2021
Cost |  | $ | 390.6 |  |  | $ | 403.9 |
Accumulated amortization |  | (282.3) |  |  | (280.6) |
Software, net |  | $ | 108.3 |  |  | $ | 123.3 |
Software amortization expense was $29.5 million in 2022, $30.1 million in 2021 and $29.0 million in 2020.
Schedule of Allowance for Credit Losses | The activity related to our allowance for credit losses was as follows:
(In millions) |  | 2022 |  | 2021
Balance at beginning of year |  | $ | 33.0 |  |  | $ | 44.6 |
Provision for (reversal of) credit losses |  | 6.9 |  |  | (4.7) |
Amounts written off |  | (4.3) |  |  | (7.7) |
Other, including foreign currency translation |  | (1.2) |  |  | .8 |
Balance at end of year |  | $ | 34.4 |  |  | $ | 33.0 |
Schedule of Research and Development Expense | Research and development expense, which is included in “Marketing, general and administrative expense” in the Consolidated Statements of Income, was as follows:
(In millions) |  | 2022 |  | 2021 |  | 2020
Research and development expense |  | $ | 136.1 |  |  | $ | 136.6 |  |  | $ | 112.8 |
Schedule of Cash Paid for Interest and Income taxes | Cash paid for interest and income taxes was as follows:
(In millions) |  | 2022 |  | 2021 |  | 2020
Interest |  | $ | 80.9 |  |  | $ | 62.8 |  |  | $ | 69.6 |
Income taxes, net of refunds |  | 204.8 |  |  | 253.4 |  |  | 203.4 |
Schedule of Balance Sheet Locations of Deferred Revenue | The following table shows the amounts and balance sheet locations of deferred revenue as of December 31, 2022 and January 1, 2022:
(In millions) |  | December 31, 2022 |  | January 1, 2022
Other current liabilities |  | $ | 22.2 |  |  | $ | 24.7 |
Long-term retirement benefits and other liabilities |  | 2.1 |  |  | 1.9 |
Total deferred revenue |  | $ | 24.3 |  |  | $ | 26.6 |
Revenue recognized from amounts included in deferred revenue as of January 1, 2022 was $23.5 million in 2022. Revenue recognized from amounts included in deferred revenue as of January 2, 2021 was $18.4 million in 2021. Revenue recognized from amounts included in deferred revenue as of December 28, 2019 was $12.0 million in 2020. This revenue was included in “Net sales” in the Consolidated Statements of Income.

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