v3.26.1
Balance Sheet Components
6 Months Ended
Jun. 30, 2026
Additional Financial Information Disclosure [Abstract]  
Balance Sheet Components Balance Sheet Components
Balance Sheet Components

The following table presents additional information regarding certain balance sheet components as of June 30, 2026 and December 31, 2025:

 June 30, 2026December 31, 2025
RECEIVABLES – NET
Customers$544.3 $511.9 
Other22.6 19.2 
Total566.9 531.1 
Less: allowance for credit losses, estimated returns and other reserves(1)
19.1 9.4 
Receivables – net$547.8 $521.7 
INVENTORIES – NET
Raw materials and component parts$329.7 $316.1 
Work in process66.0 47.7 
Finished goods124.6 115.6 
Inventories – net$520.3 $479.4 
ACCRUED EXPENSES
Payroll and related items$102.9 $112.2 
Management incentive compensation18.4 19.1 
Income taxes payable14.5 14.0 
Warranty13.1 14.4 
Deferred revenue54.7 45.8 
Lease liability26.6 27.8 
Restructuring2.1 3.0 
Accrued interest12.0 11.7 
Other49.2 49.0 
Accrued expenses$293.5 $297.0 
(1) The allowance for credit losses, estimated returns and other reserves as of June 30, 2026 includes expected customer rebates associated with the International Emergency Economic Powers Act tariff refunds recorded during the three months ended June 30, 2026.

Cash, Cash Equivalents and Restricted Cash

The Company has restricted cash primarily related to certain letters of credit, funds held in escrow in connection with a business acquisition and funds restricted in connection with a legal matter. The following table presents a reconciliation of Cash and cash equivalents and restricted cash in the Condensed Consolidated Statements of Cash Flows:

June 30, 2026December 31, 2025June 30, 2025December 31, 2024
Cash and cash equivalents$621.3 $580.0 $568.2 $620.8 
Restricted cash(1)
3.9 3.0 1.4 18.1 
Long-term restricted cash(2)
2.9 2.9 0.4 — 
Total cash, cash equivalents and restricted cash$628.1 $585.9 $570.0 $638.9 

(1) Restricted cash has been included in Other current assets in the Consolidated Balance Sheets for all periods disclosed.
(2) Long-term restricted cash has been included in Other noncurrent assets in the Consolidated Balance Sheets for all periods disclosed.