OTHER CURRENT AND NON-CURRENT ASSETS

9 Months Ended

Sep. 30, 2023

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

OTHER CURRENT AND NON-CURRENT ASSETS

OTHER CURRENT AND NON-CURRENT ASSETS 

The following table summarizes our other current and non-current assets.

As of the Period Ended	September 30, 2023		December 31, 2022
Advance payments and other prepaid expenses	$	44.6	$	45.0
Current contract assets, net	24.8		26.3
Prepaid income taxes	13.3		25.1
Other	19.7		16.5
Other current assets	$	102.4	$	112.9
Other employee benefit-related assets	$	125.3	$	119.8
Operating lease right-of-use assets(a)	83.4		73.8
Deferred income taxes(b)	71.9		54.7
Equity-method and other investments	45.7		42.9
Capitalized software costs	9.1		12.4
Environmental-related assets	7.0		9.6
Other	31.1		25.9
Other non-current assets	$	373.5	$	339.1

(a)    The increase in the operating lease right-of-use asset balance from December 31, 2022 to September 30, 2023 is primarily driven by the renewal of an operating facility lease in Irvine, California and by the current period acquisition of Micro-Mode.

(b)    The increase in deferred income taxes from December 31, 2022 to September 30, 2023 is primarily due to benefits of $16.5 from valuation allowance reversals on deferred tax assets in Germany.