OTHER CURRENT AND NON-CURRENT ASSETS

9 Months Ended

Sep. 30, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]


	September 30, 2020			December 31, 2019
Asbestos-related assets(a)		$	91.0		$	67.2

Advance payments and other prepaid expenses		31.3			45.4
Current contract assets, net		17.4			18.0
Prepaid income taxes		30.6			20.6
Other		1.5			2.2
Other current assets		$	171.8		$	153.4
Other employee benefit-related assets		$	137.6		$	133.6
Operating lease right-of-use assets		87.9			91.7
Capitalized software costs		25.2			30.1
Environmental-related assets		19.6			22.2
Equity method investments		10.0			9.8
Other		25.8			29.1
Other non-current assets		$	306.1		$	316.5

(a)The increase in asbestos-related assets as of September 30, 2020 primarily relates to a June 2020 settlement agreement with an insurer accelerating payments previously included in a buyout agreement. Refer to Note 19, Commitments and Contingencies, for further information.

Subsequent Event

In October 2020, we signed a lease to relocate our corporate headquarters to Stamford, Connecticut. We plan to move to the new location in early 2021. The lease has a fixed, noncancellable term of 12 years with two five-year renewal options. As a result, in the fourth quarter of 2020, we expect to recognize a non-cash operating lease right-of-use asset of approximately $10, within other non-current assets. The lease for our current corporate headquarters in White Plains, New York has a right-of-use asset of $4.1 as of September 30, 2020 and we are currently evaluating the accounting impact.