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Balance Sheet Components | 12 Months Ended
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Dec. 31, 2024
Additional Financial Information Disclosure [Abstract] |
Balance Sheet Components | Balance Sheet Components
| December 31,
| 2024 |  | 2023
RECEIVABLES - NET |  |  |
Customers | $ | 461.0 |  |  | $ | 419.0 |
Other | 14.7 |  |  | 16.3 |
Total | 475.7 |  |  | 435.3 |
Less: allowance for credit losses | 9.8 |  |  | 7.5 |
Receivables - net | $ | 465.9 |  |  | $ | 427.8 |
INVENTORIES - NET |  |  |
Raw materials and components parts | $ | 285.5 |  |  | $ | 268.1 |
Work in process | 34.4 |  |  | 44.5 |
Finished goods | 109.8 |  |  | 108.2 |
Inventories - net | $ | 429.7 |  |  | $ | 420.8 |
PROPERTY, PLANT AND EQUIPMENT - NET |  |  |
Land and improvements | $ | 30.0 |  |  | $ | 30.8 |
Buildings and improvements | 268.9 |  |  | 234.7 |
Machinery, equipment and other | 607.9 |  |  | 551.0 |
Office and transportation equipment | 108.6 |  |  | 106.0 |
Construction in progress | 34.9 |  |  | 53.5 |
Total | 1,050.3 |  |  | 976.0 |
Less: accumulated depreciation and amortization | 589.9 |  |  | 545.7 |
Property, plant and equipment - net | $ | 460.4 |  |  | $ | 430.3 |
ACCRUED EXPENSES |  |  |
Payroll and related items | $ | 105.0 |  |  | $ | 97.1 |
Management incentive compensation | 14.6 |  |  | 16.4 |
Income taxes payable | 10.1 |  |  | 18.5 |
Deferred revenue | 50.7 |  |  | 55.9 |
Lease liability | 26.1 |  |  | 22.0 |
Other | 72.2 |  |  | 61.6 |
Accrued expenses | $ | 278.7 |  |  | $ | 271.5 |
The valuation and qualifying account activity for the years ended December 31, 2024, 2023 and 2022 is as follows:
| 2024 |  | 2023 |  | 2022
ALLOWANCE FOR CREDIT LOSSES |  |  |
Beginning balance January 1 | $ | 7.5 |  |  | $ | 8.0 |  |  | $ | 7.2 |
Charged to costs and expenses, net of recoveries | 1.7 |  |  | 0.6 |  |  | 2.2 |
Utilization | (1.0) |  |  | (1.2) |  |  | (1.2) |
Acquisitions and divestitures | 1.8 |  |  | 0.4 |  |  | 0.5 |
Other adjustments, including foreign currency translation | (0.2) |  |  | (0.3) |  |  | (0.7) |
Ending balance December 31 | $ | 9.8 |  |  | $ | 7.5 |  |  | $ | 8.0 |

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