XML 16 R3.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 66.4 $ 62.2
Accounts receivable less allowances of $22.9 and $26.6, respectively 430.7 384.1
Inventories 327.5 395.2
Other current assets 30.8 40.8
Total current assets 855.4 882.3
Total property, plant and equipment 599.6 589.2
Less: accumulated depreciation (429.5) (404.1)
Property, plant and equipment, net [1] 170.1 185.1
Right of use asset, leases 91.0 88.8
Deferred income taxes 104.7 99.7
Goodwill 590.0 671.5
Identifiable intangibles, net of accumulated amortization of $429.5 and $380.7, respectively 815.7 847.0
Other non-current assets 17.9 20.3
Total assets 2,644.8 2,794.7
Current liabilities:    
Notes payable 0.2 10.3
Current portion of long-term debt 36.5 49.7
Accounts payable 183.7 239.5
Accrued compensation 53.3 38.3
Accrued customer program liabilities 104.0 103.3
Lease liabilities 20.5 21.2
Other current liabilities 143.8 126.7
Total current liabilities 542.0 589.0
Long-term debt, net of debt issuance costs of $6.7 and $8.4, respectively 882.2 936.5
Long-term lease liabilities 76.8 75.2
Deferred income taxes 125.6 144.1
Pension and post-retirement benefit obligations 157.6 155.5
Other non-current liabilities 73.6 84.3
Total liabilities 1,857.8 1,984.6
Stockholders' equity:    
Common stock, $0.01 par value, 200,000,000 shares authorized; 99,819,679 and 98,851,581 shares issued and 94,925,652 and 94,260,926 outstanding, respectively 1.0 1.0
Treasury stock, 4,894,027 and 4,590,655 shares, respectively (45.1) (43.4)
Paid-in capital 1,913.4 1,897.2
Accumulated other comprehensive loss (526.3) (540.3)
Accumulated deficit (556.0) (504.4)
Total stockholders' equity 787.0 810.1
Total liabilities and stockholders' equity $ 2,644.8 $ 2,794.7
[1] Net property, plant and equipment as of December 31, 2023 and 2022 contained $37.9 million and $52.5 million of computer software assets, respectively, which are classified within machinery and equipment and construction in progress. Depreciation expense for software was $14.1 million, $13.9 million and $12.9 million for the years ended December 31, 2023, 2022, and 2021, respectively.