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Overview, Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Transactions affecting the current expected credit loss ("CECL") reserve during the years ended December 31, 2022, 2021 and 2020 were as follows:


	December 31,
	2022			2021			2020
Balance, beginning of year	$	12.7		$	10.5		$	7.7
Provisions charged to expense		8.4			2.8			3.8
Write-offs, reclassifications and other		(4.0	)		(0.6	)		(1.5	)
Adoption of ASU 2016-13 (a)		—			—			0.5
Balance, end of year (b)	$	17.1		$	12.7		$	10.5

__________

(a)

On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments and recorded a $0.5 million cumulative-effect adjustment to retained earnings.

(b)

As of December 31, 2022, the CECL reserve balance is comprised of a $16.5 million provision for accounts receivable and a $0.6 million provision for unbilled receivables and contract assets. As of December 31, 2021, the CECL reserve balance is comprised of a $12.0 million provision for accounts receivable and a $0.7 million provision for unbilled receivables and contract assets. As of December 31, 2020, the CECL reserve balance was comprised of a $10.1 million provision for accounts receivable and a $0.4 million provision for unbilled receivables and contract assets.

Components of Inventories

The components of the Company’s inventories at December 31, 2022 and 2021 were as follows:


	December 31,
	2022		2021
Raw materials and manufacturing supplies	$	5.6	$	2.8
Work in process		2.3		2.8
Total	$	7.9	$	5.6

Components of Company's Property, Plant and Equipment

The components of the Company’s property, plant and equipment, net at December 31, 2022 and 2021 were as follows:


	December 31,
	2022			2021
Land	$	0.3		$	0.3
Buildings		20.2			20.8
Machinery and equipment		66.8			68.5
		87.3			89.6
Less: Accumulated depreciation		(69.7	)		(70.9	)
Total	$	17.6		$	18.7

Components of Accrued Liabilities

The components of the Company’s accrued liabilities at December 31, 2022 and 2021 were as follows:


	December 31,
	2022		2021
Accrued sales commissions	$	48.3	$	66.5
Contract liabilities		46.1		36.0
Accrued incentive compensation		22.7		61.2
Other employee-related liabilities		20.9		23.8
Other		21.3		19.7
Accrued liabilities	$	159.3	$	207.2

Contract