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Balance Sheet Components | 12 Months Ended
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Dec. 31, 2022
Additional Financial Information Disclosure [Abstract] |
Balance Sheet Components | Balance Sheet Components
| December 31,
| 2022 |  | 2021
| (In millions)
RECEIVABLES |  |  |
Customers | $ | 431.3 |  |  | $ | 354.9 |
Other | 19.5 |  |  | 8.7 |
Total | 450.8 |  |  | 363.6 |
Less allowance for credit losses | 8.0 |  |  | 7.2 |
Total receivables - net | $ | 442.8 |  |  | $ | 356.4 |
INVENTORIES |  |  |
Raw materials and components parts | $ | 301.2 |  |  | $ | 229.4 |
Work in process | 54.3 |  |  | 47.4 |
Finished goods | 115.4 |  |  | 93.6 |
Total inventories | $ | 470.9 |  |  | $ | 370.4 |
PROPERTY, PLANT AND EQUIPMENT |  |  |
Land and improvements | $ | 35.2 |  |  | $ | 39.1 |
Buildings and improvements | 214.2 |  |  | 197.9 |
Machinery, equipment and other | 492.4 |  |  | 467.8 |
Office and transportation equipment | 100.6 |  |  | 96.7 |
Construction in progress | 56.4 |  |  | 30.5 |
Total | 898.8 |  |  | 832.0 |
Less accumulated depreciation and amortization | 516.7 |  |  | 504.7 |
Total property, plant and equipment - net | $ | 382.1 |  |  | $ | 327.3 |
ACCRUED EXPENSES |  |  |
Payroll and related items | $ | 102.7 |  |  | $ | 91.5 |
Management incentive compensation | 26.4 |  |  | 25.0 |
Income taxes payable | 30.2 |  |  | 17.9 |
Insurance | 11.2 |  |  | 11.0 |
Warranty | 8.1 |  |  | 7.6 |
Deferred revenue | 44.7 |  |  | 49.0 |
Lease liability | 21.6 |  |  | 17.6 |
Restructuring | 1.4 |  |  | 2.8 |
Accrued interest | 5.5 |  |  | 3.6 |
Pension and retiree medical obligations | 3.3 |  |  | 3.5 |
Other | 34.0 |  |  | 30.3 |
Total accrued expenses | $ | 289.1 |  |  | $ | 259.8 |
OTHER NONCURRENT LIABILITIES |  |  |
Pension and retiree medical obligations | $ | 55.1 |  |  | $ | 82.2 |
Transition tax payable | 9.1 |  |  | 14.1 |
Deferred revenue | 15.0 |  |  | 32.2 |
Lease liability | 96.6 |  |  | 93.4 |
Other | 20.0 |  |  | 25.5 |
Total other noncurrent liabilities | $ | 195.8 |  |  | $ | 247.4 |
The valuation and qualifying account activity for the years ended December 31, 2022 and 2021 is as follows:
| 2022 |  | 2021 |  |
| (In millions)
ALLOWANCE FOR CREDIT LOSSES |
Beginning balance January 1 | $ | 7.2 |  |  | $ | 6.1 |  |  |
Charged to costs and expenses, net of recoveries | 2.2 |  |  | 1.5 |  |  |
Utilization | (1.2) |  |  | (0.9) |  |  |
Other adjustments, including acquisitions and currency translation | (0.2) |  |  | 0.5 |  |  |
Ending balance December 31 | $ | 8.0 |  |  | $ | 7.2 |  |  |

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