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Balance Sheet Information (Tables)
 12 Months Ended
Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]  
Supplemental Balance Sheet Information
Certain significant amounts included in the Company's Consolidated Balance Sheets consist of the following (in millions):
As of
December 31, 2023December 31, 2022
Inventories:
Raw materials$469.3 $236.8 
Work in process1,221.1 951.0 
Finished goods421.4 429.0 
$2,111.8 $1,616.8 
Property, plant and equipment, net:
Land$117.8 $117.8 
Buildings1,324.2 1,056.2 
Machinery, equipment and other6,489.0 5,431.8 
Property, plant and equipment, gross7,931.0 6,605.8 
Less: Accumulated depreciation(3,529.5)(3,155.1)
$4,401.5 $3,450.7 
Accrued expenses and other current liabilities:
Accrued payroll and related benefits$183.8 $284.8 
Amount due to EFK seller— 236.3 
Sales related reserves108.3 209.9 
Income taxes payable37.4 34.8 
Other (1)333.7 281.5 
$663.2 $1,047.3 
_______________________
(1)The current portion of operating lease liabilities is included in this amount. See discussion below.
Schedule of Components of Lease Expense and Lease Liabilities
The components of operating lease expense are as follows (in millions):
Year Ended
December 31, 2023December 31, 2022December 31, 2021
Operating lease$48.0 $47.8 $39.7 
Variable lease5.1 9.8 3.8 
Short-term lease1.7 2.6 2.0 
Total lease expense$54.8 $60.2 $45.5 

The operating lease liabilities included in the Consolidated Balance Sheets are as follows (in millions):
As of
December 31, 2023December 31, 2022
Operating lease liabilities included in:
Accrued expenses and other current liabilities$33.0 $35.2 
Other long-term liabilities231.0 246.5 
Total$264.0 $281.7 
Operating ROU assets included in:
Other assets$247.3 $262.1 
Reconciliation of the Maturities of Operating Leases The reconciliation of the maturities of the operating and financing leases to the lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2023 is as follows (in millions):
Operating LeasesFinancing Leases
2024$43.0 $1.7 
202536.8 1.7 
202630.8 1.7 
202728.9 1.8 
202823.6 1.8 
Thereafter188.8 31.0 
Total lease payments351.9 39.7 
Less: Interest(87.9)(16.5)
Total lease liabilities$264.0 $23.2 
Reconciliation of the Maturities of Finance Leases The reconciliation of the maturities of the operating and financing leases to the lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2023 is as follows (in millions):
Operating LeasesFinancing Leases
2024$43.0 $1.7 
202536.8 1.7 
202630.8 1.7 
202728.9 1.8 
202823.6 1.8 
Thereafter188.8 31.0 
Total lease payments351.9 39.7 
Less: Interest(87.9)(16.5)
Total lease liabilities$264.0 $23.2