v3.25.4
Overview, Basis of Presentation and Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Current Expected Credit Loss Reserve Transactions affecting the current expected credit loss (“CECL”) reserve during the years ended December 31, 2025, 2024 and 2023 were as follows:

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance, beginning of year

 

$

25.0

 

 

$

18.9

 

 

$

17.1

 

Provisions charged to expense

 

 

11.1

 

 

 

17.6

 

 

 

13.7

 

Write-offs, reclassifications and other

 

 

(15.2

)

 

 

(11.5

)

 

 

(11.9

)

Balance, end of year

 

$

20.9

 

 

$

25.0

 

 

$

18.9

 

The components of the CECL reserve balance at December 31, 2025, 2024 and 2023 were as follows:

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Provision for accounts receivable

 

$

20.5

 

 

$

24.6

 

 

$

18.5

 

Provision for unbilled receivables and contract assets

 

 

0.4

 

 

 

0.4

 

 

 

0.4

 

Total

 

$

20.9

 

 

$

25.0

 

 

$

18.9

 

Components of Inventories, Net

The components of the Company’s inventories, net at December 31, 2025 and 2024 were as follows:

 

 

December 31,

 

 

 

2025

 

 

2024

 

Raw materials and manufacturing supplies

 

$

4.0

 

 

$

3.3

 

Work in process

 

 

1.6

 

 

 

1.1

 

Total

 

$

5.6

 

 

$

4.4

 

Components of Company's Property, Plant and Equipment

The components of the Company’s property, plant and equipment, net at December 31, 2025 and 2024 were as follows:

 

 

December 31,

 

 

 

2025

 

 

2024

 

Land

 

$

0.3

 

 

$

0.3

 

Buildings

 

 

13.2

 

 

 

15.1

 

Machinery and equipment

 

 

58.1

 

 

 

56.0

 

 

 

 

71.6

 

 

 

71.4

 

Less: Accumulated depreciation

 

 

(62.8

)

 

 

(62.5

)

Total

 

$

8.8

 

 

$

8.9

 

 

Components of Accrued Liabilities The components of the Company’s accrued liabilities at December 31, 2025 and 2024 were as follows:

 

 

December 31,

 

 

 

2025

 

 

2024

 

Contract liabilities

 

$

58.5

 

 

$

52.6

 

Accrued sales commissions

 

 

48.0

 

 

 

54.9

 

Accrued incentive compensation

 

 

25.2

 

 

 

27.9

 

Other employee-related liabilities

 

 

16.1

 

 

 

17.0

 

Pension and other postretirement benefits plans liabilities

 

 

2.1

 

 

 

14.0

 

Other

 

 

16.7

 

 

 

18.7

 

Accrued liabilities

 

$

166.6

 

 

$

185.1