v3.25.2
Supplemental Financial Statement Information (Tables)
6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Accounts Receivable

Accounts Receivable

 

 

June 30,
2025

 

 

December 31,
2024

 

Accounts receivable - trade

 

$

935.3

 

 

$

693.8

 

Accounts receivable - other

 

 

13.7

 

 

 

8.6

 

Allowance for doubtful accounts

 

 

(13.9

)

 

 

(16.5

)

Total accounts receivable, net

 

$

935.1

 

 

$

685.9

 

Inventories

Inventories

 

 

June 30,
2025

 

 

December 31,
2024

 

Raw materials

 

$

403.5

 

 

$

391.7

 

Work in process

 

 

201.2

 

 

 

154.6

 

Finished goods

 

 

218.1

 

 

 

190.5

 

Total inventories, net

 

$

822.8

 

 

$

736.8

 

Accrued and Other Liabilities

Accrued and Other Liabilities

 

 

June 30,
2025

 

 

December 31,
2024

 

Compensation and employee benefit liabilities

 

$

187.9

 

 

$

172.8

 

Deferred revenue

 

 

116.0

 

 

 

95.5

 

Accrued interest

 

 

78.2

 

 

 

112.4

 

Operating lease liabilities

 

 

32.8

 

 

 

33.7

 

Product warranty accrual

 

 

18.9

 

 

 

17.9

 

Other

 

 

193.2

 

 

 

181.4

 

Total accrued and other liabilities

 

$

627.0

 

 

$

613.7

 

Operating Lease Information

Operating Lease Information

 

 

Balance Sheet Location

 

June 30,
2025

 

 

December 31,
2024

 

Right of use assets

 Other noncurrent assets

 

$

118.6

 

 

$

129.3

 

 

 

 

 

 

 

 

 

Lease liabilities - current

 Accrued and other liabilities

 

$

32.8

 

 

$

33.7

 

Lease liabilities - noncurrent

 Other noncurrent liabilities

 

 

105.3

 

 

 

111.7

 

Total lease liabilities

 

 

$

138.1

 

 

$

145.4

 

 

Changes in Accumulated Other Comprehensive Loss, Net of Tax

The following table presents changes in AOCL, net of tax:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Foreign currency translation

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(172.5

)

 

$

(237.6

)

 

$

(308.8

)

 

$

(232.4

)

Other comprehensive income (loss)

 

 

89.5

 

 

 

(16.1

)

 

 

127.9

 

 

 

(48.7

)

Amounts reclassified from AOCL

 

 

3.1

 

 

 

 

 

 

101.0

 

 

 

27.4

 

Balance at end of period

 

$

(79.9

)

 

$

(253.7

)

 

$

(79.9

)

 

$

(253.7

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Defined benefit plan activity

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(15.5

)

 

$

(15.1

)

 

$

(15.5

)

 

$

(14.9

)

Other comprehensive income (loss)

 

 

0.2

 

 

 

0.1

 

 

 

0.2

 

 

 

(0.1

)

Balance at end of period

 

$

(15.3

)

 

$

(15.0

)

 

$

(15.3

)

 

$

(15.0

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(21.6

)

 

$

(12.6

)

 

$

(20.2

)

 

$

(19.4

)

Other comprehensive income (loss)

 

 

0.3

 

 

 

0.6

 

 

 

(1.1

)

 

 

7.4

 

Balance at end of period

 

$

(21.3

)

 

$

(12.0

)

 

$

(21.3

)

 

$

(12.0

)

Net AOCL at end of period

 

$

(116.5

)

 

$

(280.7

)

 

$

(116.5

)

 

$

(280.7

)

Cash Flow Information

Cash Flow Information

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2025

 

 

2024

 

Cash paid during the period for:

 

 

 

 

 

 

   Income taxes, net of refunds

 

$

87.3

 

 

$

54.0

 

   Interest

 

 

345.9

 

 

 

322.9

 

Non-cash investing activities:

 

 

 

 

 

 

   Equity method investment from divestiture

 

 

 

 

 

17.0