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Balance Sheet Components | 12 Months Ended
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Dec. 31, 2023
Additional Financial Information Disclosure [Abstract] |
Balance Sheet Components | Balance Sheet Components
| December 31,
| 2023 |  | 2022
RECEIVABLES - NET |  |  |
Customers | $ | 419.0 |  |  | $ | 431.3 |
Other | 16.3 |  |  | 19.5 |
Total | 435.3 |  |  | 450.8 |
Less allowance for credit losses | 7.5 |  |  | 8.0 |
Total receivables - net | $ | 427.8 |  |  | $ | 442.8 |
INVENTORIES - NET |  |  |
Raw materials and components parts | $ | 268.1 |  |  | $ | 301.2 |
Work in process | 44.5 |  |  | 54.3 |
Finished goods | 108.2 |  |  | 115.4 |
Total inventories - net | $ | 420.8 |  |  | $ | 470.9 |
PROPERTY, PLANT AND EQUIPMENT - NET |  |  |
Land and improvements | $ | 30.8 |  |  | $ | 35.2 |
Buildings and improvements | 234.7 |  |  | 214.2 |
Machinery, equipment and other | 551.0 |  |  | 492.4 |
Office and transportation equipment | 106.0 |  |  | 100.6 |
Construction in progress | 53.5 |  |  | 56.4 |
Total | 976.0 |  |  | 898.8 |
Less accumulated depreciation and amortization | 545.7 |  |  | 516.7 |
Total property, plant and equipment - net | $ | 430.3 |  |  | $ | 382.1 |
ACCRUED EXPENSES |  |  |
Payroll and related items | $ | 97.1 |  |  | $ | 102.7 |
Management incentive compensation | 16.4 |  |  | 26.4 |
Income taxes payable | 18.5 |  |  | 30.2 |
Insurance | 11.4 |  |  | 11.2 |
Warranty | 9.1 |  |  | 8.1 |
Deferred revenue | 55.9 |  |  | 44.7 |
Lease liability | 22.0 |  |  | 21.6 |
Restructuring | 2.1 |  |  | 1.4 |
Accrued interest | 4.5 |  |  | 5.5 |
Pension and retiree medical obligations | 3.4 |  |  | 3.3 |
Other | 31.1 |  |  | 34.0 |
Total accrued expenses | $ | 271.5 |  |  | $ | 289.1 |
OTHER NONCURRENT LIABILITIES |  |  |
Pension and retiree medical obligations | $ | 65.1 |  |  | $ | 55.1 |
Transition tax payable | 5.0 |  |  | 9.1 |
Deferred revenue | 17.3 |  |  | 15.0 |
Lease liability | 98.1 |  |  | 96.6 |
Other | 21.2 |  |  | 20.0 |
Total other noncurrent liabilities | $ | 206.7 |  |  | $ | 195.8 |
The valuation and qualifying account activity for the years ended December 31, 2023 and 2022 is as follows:
| 2023 |  | 2022 |  |
ALLOWANCE FOR CREDIT LOSSES |
Beginning balance January 1 | $ | 8.0 |  |  | $ | 7.2 |  |  |
Charged to costs and expenses, net of recoveries | 0.6 |  |  | 2.2 |  |  |
Utilization | (1.2) |  |  | (1.2) |  |  |
Other adjustments, including acquisitions and Foreign currency translation | 0.1 |  |  | (0.2) |  |  |
Ending balance December 31 | $ | 7.5 |  |  | $ | 8.0 |  |  |

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