Supplemental Balance Sheet Information

Accounts Receivable

Accounts receivable consist of the following (in millions):



	June 30, 2018			December 31, 2017
Accounts receivable	$	190.4		$	204.9
Allowances and doubtful accounts	(1.2		)	(1.9		)
Accounts receivable, net	$	189.2		$	203.0

Allowances and doubtful accounts includes allowances of $0.9 million and $0.9 million for doubtful accounts, $0.2 million and $0.8 million for sales discounts, and $0.1 million and $0.2 million for sales returns as of June 30, 2018 and December 31, 2017, respectively.

Inventories

Inventories at the lower of cost (determined on the LIFO/FIFO or weighted-average cost methods) or market consist of the following (in millions):



	June 30, 2018								December 31, 2017
	LIFO			Non- LIFO		Total			LIFO			Non- LIFO		Total
Raw materials	$	37.3		$	1.2	$	38.5		$	26.6		$	1.5	$	28.1
Work in process	25.6			0.4		26.0			20.4			0.3		20.7
Finished goods	40.0			10.3		50.3			40.0			9.6		49.6
Supplies and other	—			5.9		5.9			—			5.7		5.7
	102.9			17.8		120.7			87.0			17.1		104.1
Excess of FIFO or weighted-average cost over LIFO cost	(12.9		)	—		(12.9		)	(13.0		)	—		(13.0		)
Total	$	90.0		$	17.8	$	107.8		$	74.0		$	17.1	$	91.1

Property, Plant and Equipment

Property, plant and equipment consists of the following (in millions):



	June 30, 2018			December 31, 2017
Land	$	0.9		$	1.0
Buildings	41.9			41.0
Machinery and equipment	130.8			124.4
Construction in progress	30.1			21.5
	203.7			187.9
Less accumulated depreciation	(80.2		)	(78.0		)
Total	$	123.5		$	109.9

Construction in progress includes $10.7 million of costs capitalized in connection with migration to a new IT platform and enhancements to our IT environment. See Note 3 for further discussion of our IT-related restructuring and enhancement activities.

Depreciation expense was $3.2 million and $6.4 million for the three and six months ended June 30, 2018 compared to $5.1 million and $10.0 million for the three and six months ended June 30, 2017, respectively.

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill by business segment are as follows (in millions):



	Goodwill
Balance at December 31, 2017	$	764.7
Currency translation adjustment	(0.9		)
Balance at June 30, 2018	$	763.8

Intangible assets subject to amortization consist of the following (in millions):



	June 30, 2018							December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trademarks	$	76.4	$	(50.0	)	$	26.4	$	125.9	$	(97.6	)	$	28.3
Patents and acquired technologies	237.1		(136.9		)	100.2		253.0		(146.1		)	106.9
Other	38.0		(30.8		)	7.2		43.1		(35.1		)	8.0
Total	$	351.5	$	(217.7	)	$	133.8	$	422.0	$	(278.8	)	$	143.2

As of each period ended June 30, 2018 and December 31, 2017, we had $5.7 million of acquired in-process research and development projects. Amortization expense for intangible assets was $4.7 million and $9.2 million for the three and six months ended June 30, 2018 compared to $5.1 million and $10.4 million for the three and six months ended June 30, 2017, respectively. We estimate amortization expense for the remainder of 2018 and the following four years and beyond will be as follows (in millions):



For the years ending December 31,
2018	$	8.8
2019	15.3
2020	13.1
2021	10.9
2022	10.4
Thereafter	75.3
Total	$	133.8

Accrued Expenses

Accrued expenses consist of the following (in millions):



	June 30, 2018		December 31, 2017
Accrued rebates	$	33.4	$	64.4
Accrued salaries and wages	23.6		44.5
Accrued taxes - income and other	87.9		6.8
Other	31.0		29.2
Total	$	175.9	$	144.9

Accrued rebates represents amounts accrued for estimated incentives earned by customers.

Other Long-Term Liabilities

Other long-term liabilities consist of the following (in millions):



	June 30, 2018		December 31, 2017
Taxes payable	$	9.4	$	10.0
Accrued compensation benefits	4.9		4.6
Other	15.3		17.2
Total	$	29.6	$	31.8