XML 42 R26.htm IDEA: XBRL DOCUMENT
v3.24.2

Supplemental Balance Sheet Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of Accounts Receivable | Accounts receivable consist of the following (in millions):
| June 30, 2024 |  | December 31, 2023
Accounts receivable | $ | 128.1 |  |  | $ | 134.0 |
Income tax receivable | 0.1 |  |  | 14.1 |
Allowances and doubtful accounts: |  |  |
Doubtful accounts | (4.6) |  |  | (5.1) |
Sales discounts | (0.6) |  |  | (0.2) |
Accounts receivable, net | $ | 123.0 |  |  | $ | 142.8 |
Summary of Inventories | Inventories at the lower of cost (determined on the FIFO method) or net realizable value consists of the following (in millions):
| June 30, 2024 |  |  |  |  |  | December 31, 2023
Raw materials | $ | 49.6 |  |  |  |  |  |  | $ | 50.3 |
Work in process | 24.2 |  |  |  |  |  | 19.8
Finished goods | 86.2 |  |  |  |  |  | 88.5
Supplies and other | 3.9 |  |  |  |  |  | 4.6
Total Inventory | $ | 163.9 |  |  |  |  |  |  | $ | 163.2 |
Summary of Property, Plant and Equipment | Property, plant and equipment consists of the following (in millions):
| June 30, 2024 |  | December 31, 2023
Land | $ | 1.3 |  |  | $ | 1.3 |
Buildings and leasehold improvements | 37.2 |  |  | 38.0 |
Machinery and equipment | 184.9 |  |  | 182.8 |
Construction in progress | 16.5 |  |  | 18.0 |
| 239.9 |  |  | 240.1 |
Less accumulated depreciation | (129.2) |  |  | (122.9) |
Total | $ | 110.7 |  |  | $ | 117.2 |
Summary of Changes in the Carrying Amount of Goodwill | The changes in the carrying amount of goodwill are as follows (in millions):
| Goodwill
Balance, December 31, 2023 | $ | 796.1 |
Currency translation adjustment | (1.7) |
Balance, June 30, 2024 | $ | 794.4 |
Summary of Intangible Assets Subject to Amortization | Intangible assets subject to amortization consist of the following (in millions):
| June 30, 2024 |  | December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trademarks | $ | 41.6 |  |  | $ | (29.4) |  |  | $ | 12.2 |  |  | $ | 42.0 |  |  | $ | (28.8) |  |  | $ | 13.2 |
Patents and acquired technologies | 248.5 |  |  | (176.7) |  |  | 71.8 |  |  | 248.6 |  |  | (171.9) |  |  | 76.7 |
Other | 207.2 |  |  | (65.0) |  |  | 142.2 |  |  | 207.7 |  |  | (58.1) |  |  | 149.6 |
Total | $ | 497.3 |  |  | $ | (271.1) |  |  | $ | 226.2 |  |  | $ | 498.3 |  |  | $ | (258.8) |  |  | $ | 239.5 |
Summary of Estimated Amortization Expense | Amortization expense for the remainder of 2024, the following four years and thereafter is estimated as follows (in millions):
|  | Amount
Remainder of 2024 |  | $ | 13.1 |
2025 |  | 25.0 |
2026 |  | 24.5 |
2027 |  | 22.8 |
2028 |  | 22.6 |
Thereafter |  | 118.2 |
Total |  | $ | 226.2 |
Summary of Accrued Expenses | Accrued expenses consist of the following (in millions):
| June 30, 2024 |  | December 31, 2023
Accrued rebates and customer incentives | $ | 21.8 |  |  | $ | 17.7 |
Accrued salaries and wages | 25.8 |  |  | 31.5 |
Accrued taxes and other | 6.1 |  |  | 16.7 |
Other | 25.8 |  |  | 27.3 |
Total | $ | 79.5 |  |  | $ | 93.2 |
Liabilities for estimated returns, rebates and incentives are presented in the table below (in millions):
| June 30, 2024 |  | December 31, 2023
Accrued rebates | $ | 12.6 |  |  | $ | 10.4 |
Accrued customer incentives | 9.2 |  |  | 7.3 |
Accrued rebates and customer incentives | 21.8 |  |  | 17.7 |
Accrued sales returns(a) | 0.1 |  |  | 0.1 |
Total estimated liabilities | $ | 21.9 |  |  | $ | 17.8 |
__________________________________________________ (a)Accrued sales returns are included in “Other” in the accrued expenses table in Note 5, “Supplemental Balance Sheet Information”.
Summary of Other Long-Term Liabilities | Other long-term liabilities consist of the following (in millions):
| June 30, 2024 |  | December 31, 2023
Accrued compensation and benefits | $ | 6.6 |  |  | $ | 5.9 |
Other | 3.9 |  |  | 4.1 |
Total | $ | 10.5 |  |  | $ | 10.0 |

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of other noncurrent liabilities. + References No definition available. + Details
Name: | us-gaap_OtherNoncurrentLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accrued liabilities. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-2 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483489/210-10-50-1 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration