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OTHER CURRENT AND NON-CURRENT ASSETS - Components of Other Current and Non-Current Assets - USD ($)
$ in Millions
Jul. 01, 2023
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Advance payments and other prepaid expenses $ 43.1 $ 45.0
Current contract assets, net 28.1 26.3
Prepaid income taxes 11.2 25.1
Other 22.2 16.5
Other current assets 104.6 112.9
Other employee benefit-related assets 124.4 119.8
Deferred income taxes(b) [1] 74.5 54.7
Operating lease right-of-use assets(a) [2] 86.8 73.8
Equity-method and other investments 45.3 42.9
Capitalized software costs 10.2 12.4
Environmental-related assets 7.3 9.6
Other 33.5 25.9
Other non-current assets $ 382.0 $ 339.1
[1] The increase in deferred income taxes from December 31, 2022 to July 1, 2023 is primarily due to benefits of $16.3 from valuation allowance reversals on deferred tax assets in Germany.
[2] The increase in the operating lease right-of-use asset balance from December 31, 2022 to July 1, 2023 is primarily driven by the renewal of an operating facility lease in Irvine, California and by the current period acquisition of Micro-Mode.