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Supplementary Financial Information | 6 Months Ended
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Jun. 30, 2021
Offsetting [Abstract] |
Supplementary Financial Information | 10. Supplementary Financial Information Contracts in Progress Costs and recognized earnings in excess of billings on uncompleted contracts and billings in excess of costs and recognized earnings on uncompleted contracts consist of the following:
|  | June 30, 2021 |  | December 31, 2020
Costs incurred on contracts in progress |  | $ | 1,611.6 |  |  | $ | 752.9 |
Estimated earnings |  | 254.0 |  |  | 139.0
|  | 1,865.6 |  |  | 891.9
Less progress billings |  | 1,948.7 |  |  | 888.5
|  | $ | (83.1) |  |  | $ | 3.4 |
The above is included in the accompanying condensed consolidated balance sheet under the following line items:
Costs and recognized earnings in excess of billings on uncompleted contracts |  | $ | 63.7 |  |  | $ | 55.6 |
Billings in excess of costs and recognized earnings on uncompleted contracts |  | (146.8) |  |  | (52.2) |
|  | $ | (83.1) |  |  | $ | 3.4 |
Investments Carrying values of other invested assets were as follows (in millions):
|  | June 30, 2021 |  | December 31, 2020
|  | Measurement Alternative |  | Equity Method |  | Total |  | Measurement Alternative |  | Equity Method |  | Total
Common stock |  | $ | — |  |  | $ | 2.5 |  |  | $ | 2.5 |  |  | $ | — |  |  | $ | 2.5 |  |  | $ | 2.5 |
Preferred stock |  | — |  |  | 12.1 |  |  | 12.1 |  |  | — |  |  | 15.4 |  |  | 15.4 |
Fixed maturities |  | 0.5 |  |  | — |  |  | 0.5 |  |  | 0.5 |  |  | — |  |  | 0.5 |
Other |  | 11.3 |  |  | 26.7 |  |  | 38.0 |  |  | 11.3 |  |  | 25.7 |  |  | 37.0 |
Total |  | $ | 11.8 |  |  | $ | 41.3 |  |  | $ | 53.1 |  |  | $ | 11.8 |  |  | $ | 43.6 |  |  | $ | 55.4 |
Fair Value of Financial Instruments Not Measured at Fair Value The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis. The table excludes carrying amounts for cash and cash equivalents, accounts receivable, accounts payable and other current liabilities, and other assets and liabilities that approximate fair value due to relatively short periods to maturity (in millions):
June 30, 2021 |  |  |  |  |  | Fair Value Measurement Using:
| Carrying Value |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |
Other invested assets |  | $ | 11.3 |  |  | $ | 11.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 11.3 |
Total assets not accounted for at fair value |  | $ | 11.3 |  |  | $ | 11.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 11.3 |
Liabilities |  |  |  |  |  |  |  |  |  |
Debt obligations (1) |  | $ | 676.3 |  |  | $ | 692.7 |  |  | $ | — |  |  | $ | 692.7 |  |  | $ | — |
Total liabilities not accounted for at fair value |  | $ | 676.3 |  |  | $ | 692.7 |  |  | $ | — |  |  | $ | 692.7 |  |  | $ | — |
December 31, 2020 |  |  |  |  |  | Fair Value Measurement Using:
| Carrying Value |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |
Other invested assets |  | $ | 11.3 |  |  | $ | 11.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 11.3 |
Total assets not accounted for at fair value |  | $ | 11.3 |  |  | $ | 11.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 11.3 |
Liabilities |  |  |  |  |  |  |  |  |  |
Debt obligations (1) |  | $ | 560.7 |  |  | $ | 579.2 |  |  | $ | — |  |  | $ | 579.2 |  |  | $ | — |
Total liabilities not accounted for at fair value |  | $ | 560.7 |  |  | $ | 579.2 |  |  | $ | — |  |  | $ | 579.2 |  |  | $ | — |
(1) Excludes certain lease obligations accounted for under ASC 842, Leases. Debt Obligations. The fair value of the Company’s long-term obligations was determined using Bloomberg Valuation Service BVAL. The methodology combines direct market observations from contributed sources with quantitative pricing models to generate evaluated prices and classified as Level 2. Other Non-Current Assets The following tables provide information relating to Other non-current assets (in millions):
|  | June 30, 2021 |  | December 31, 2020
Right of use asset |  | $ | 72.2 |  |  | $ | 39.8 |
Other |  | 4.5 |  |  | 2.4 |
Total other non-current assets |  | $ | 76.7 |  |  | $ | 42.2 |
Accrued Liabilities Accrued liabilities consist of the following (in millions):
|  | June 30, 2021 |  | December 31, 2020
Accrued expenses and other current liabilities |  | $ | 42.2 |  |  | $ | 27.9 |
Accrued payroll and employee benefits |  | 32.6 |  |  | 34.7 |
Accrued interest |  | 26.7 |  |  | 13.9 |
Accrued income taxes |  | 0.4 |  |  | 0.6 |
Total accrued liabilities |  | $ | 101.9 |  |  | $ | 77.1 |
Other Non-Current Liabilities The following tables provide information relating to Other non-current liabilities (in millions):
|  | June 30, 2021 |  | December 31, 2020
Lease liability, net of current portion |  | $ | 60.4 |  |  | $ | 31.6 |
Other |  | 10.2 |  |  | 8.2 |
Total other non-current liabilities |  | $ | 70.6 |  |  | $ | 39.8 |

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