Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 203.7	$ 147.1
Trade and other accounts receivable (less allowances of $10.3 million and $7.7 million respectively)	359.8	334.6
Inventories (less allowances of $28.1 million and $27.1 million, respectively):
Finished goods	215.7	259.3
Raw materials	84.4	113.8
Total inventories	300.1	373.1
Prepaid expenses	18.7	14.1
Prepaid income taxes	2.8	3.3
Other current assets	0.6	0.4
Total current assets	885.7	872.6
Net property, plant and equipment	268.3	220.9
Operating leases right-of-use assets	45.1	45.3
Goodwill	399.3	358.8
Other intangible assets	57.3	45.0
Deferred tax assets	10.4	5.9
Pension asset	35.1	48.1
Other non-current assets	6.2	7.1
Total assets	1,707.4	1,603.7
Current liabilities:
Accounts payable	163.6	165.3
Accrued liabilities	185.9	202.9
Current portion of operating lease liabilities	13.6	13.9
Current portion of plant closure provisions	4.6	5.3
Current portion of accrued income taxes	2.6	18.4
Current portion of Unrecognized tax benefits	1.2	0.0
Total current liabilities	371.5	405.8
Operating lease liabilities, net of current portion	31.6	31.4
Plant closure provisions, net of current portion	57.0	51.9
Accrued income taxes, net of current portion	11.6	21.0
Unrecognized tax benefits, net of current portion	13.6	13.4
Deferred tax liabilities	33.5	26.2
Pension liabilities and post-employment benefits	13.3	12.2
Acquisition-related contingent deferred consideration	23.4	0.0
Other non-current liabilities	2.3	1.4
Total liabilities	557.8	563.3
Equity:
Common stock, $0.01 par value, authorized 40,000,000 shares, issued 29,554,500 shares	0.3	0.3
Additional paid-in capital	361.0	354.1
Treasury stock (4,686,511 and 4,788,966 shares at cost, respectively)	(94.3)	(95.4)
Retained earnings	1,028.2	924.2
Accumulated other comprehensive loss	(148.1)	(145.2)
Total Innospec stockholders' equity	1,147.1	1,038.0
Non-controlling interest	2.5	2.4
Total equity	1,149.6	1,040.4
Total liabilities and equity	$ 1,707.4	$ 1,603.7