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Valuation and Qualifying Accounts and Reserves
 12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Valuation and Qualifying Accounts and Reserves

Allowances for Doubtful Accounts

 

Changes in the allowances for doubtful accounts were as follows:

 

 

 

Year Ended December 31,

 

(in millions)

 

 

2023

 

 

 

2022

 

 

 

2021

 

Balance at beginning of year

 

$

9.1

 

 

$

10.0

 

 

$

11.4

 

Additions charged to expense

 

 

1.3

 

 

 

0.5

 

 

 

0.9

 

Deductions - write offs

 

 

(1.6

)

 

 

(1.5

)

 

 

(1.9

)

Foreign exchange changes

 

 

0.5

 

 

 

0.1

 

 

 

(0.4

)

Balance at end of year

 

$

9.3

 

 

$

9.1

 

 

$

10.0

 

 

Allowances for Sales Discounts and Other Credits

 

Changes in the allowances for sales discounts and returns were as follows:

 

 

 

Year Ended December 31,

 

(in millions)

 

 

2023

 

 

 

2022

 

 

 

2021

 

Balance at beginning of year

 

$

15.6

 

 

$

15.2

 

 

$

12.2

 

Additions charged to expense

 

 

8.1

 

 

 

15.7

 

 

 

28.9

 

Deductions

 

 

(11.8

)

 

 

(13.8

)

 

 

(25.8

)

Foreign exchange changes

 

 

(0.3

)

 

 

(1.5

)

 

 

(0.1

)

Balance at end of year

 

$

11.6

 

 

$

15.6

 

 

$

15.2

 

 

Allowances for Cash Discounts

 

Changes in the allowances for cash discounts were as follows:

 

 

 

Year Ended December 31,

 

(in millions)

 

 

2023

 

 

 

2022

 

 

 

2021

 

Balance at beginning of year

 

$

1.9

 

 

$

2.4

 

 

$

1.9

 

Additions charged to expense

 

 

20.7

 

 

 

22.9

 

 

 

22.8

 

Deductions - discounts taken

 

 

(20.7

)

 

 

(23.3

)

 

 

(22.2

)

Foreign exchange changes

 

 

0.1

 

 

 

(0.1

)

 

 

(0.1

)

Balance at end of year

 

$

2.0

 

 

$

1.9

 

 

$

2.4

 

 

Warranty Reserves

 

Changes in the reserve for warranty claims were as follows:

 

 

 

Year Ended December 31,

 

(in millions)

 

 

2023

 

 

 

2022

 

 

 

2021

 

Balance at beginning of year

 

$

6.4

 

 

$

5.7

 

 

$

6.1

 

Provision for warranties issued

 

 

3.8

 

 

 

5.3

 

 

 

2.9

 

Deductions - settlements made (in cash or in kind)

 

 

(4.5

)

 

 

(4.3

)

 

 

(2.9

)

Foreign exchange changes

 

 

0.3

 

 

 

(0.3

)

 

 

(0.4

)

Balance at end of year

 

$

6.0

 

 

$

6.4

 

 

$

5.7

 

 

Income Tax Valuation Allowance

 

Changes in the deferred tax valuation allowances were as follows:

 

 

 

Year Ended December 31,

 

(in millions)

 

 

2023

 

 

 

2022

 

 

 

2021

 

Balance at beginning of year

 

$

51.9

 

 

$

52.4

 

 

$

55.4

 

Net increase to valuation allowance - expense (benefit)

 

 

5.4

 

 

 

3.2

 

 

 

(2.2

)

Foreign exchange changes

 

 

1.9

 

 

 

(3.7

)

 

 

(0.8

)

Balance at end of year

 

$

59.2

 

 

$

51.9

 

 

$

52.4