Balance Sheet Components

12 Months Ended

Dec. 31, 2024


	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