Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 440.5	$ 286.2
Short-term investments	14.3	9.4
Accounts receivable (net of allowances of $14.3 and $10.6)	741.6	675.3
Inventories, net	740.7	662.1
Other current assets	84.3	66.8
Assets held for sale - current	0.0	179.5
Total Current Assets	2,021.4	1,879.3
Property, Plant, and Equipment, net	528.0	459.5
Other Assets
Investments	65.9	69.1
Goodwill	1,970.5	1,871.3
Other intangible assets, net	669.9	681.5
Other long-term assets	146.9	143.7
Assets held for sale - non-current	0.0	177.1
TOTAL ASSETS	5,402.6	5,281.5
Current Liabilities
Short-term debt and current portion of long-term debt	4.7	9.7
Accounts payable	529.9	532.8
Accrued salaries, wages and employee benefits	144.2	94.7
Accrued insurance	75.6	73.3
Other accrued liabilities	334.1	263.4
Liabilities held for sale - current	0.0	91.3
Total Current Liabilities	1,088.5	1,065.2
Long-term Debt	1,437.9	1,435.5
Other Non-Current Liabilities	505.6	521.3
Liabilities held for sale - non-current	0.0	18.8
TOTAL LIABILITIES	3,032.0	3,040.8
Commitments and Contingencies (see Note 16)
Hubbell Incorporated Shareholders’ Equity
Common Stock - par value $0.01, Authorized 200,000,000 shares, outstanding 53,689,539 and 54,518,047 shares	0.6	0.6
Additional paid-in capital	0.0	0.0
Retained earnings	2,705.5	2,560.0
Accumulated other comprehensive loss	(345.2)	(330.8)
Total Hubbell Incorporated Shareholders’ Equity	2,360.9	2,229.8
Noncontrolling interest	9.7	10.9
TOTAL EQUITY	2,370.6	2,240.7
TOTAL LIABILITIES AND EQUITY	$ 5,402.6	$ 5,281.5

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable to insurance entities to mitigate potential loss from various risks or to satisfy a promise to provide certain coverage's to employees. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).