Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 429.8	$ 440.5
Short-term investments	17.0	14.3
Accounts receivable (net of allowances of $13.9 and $14.3)	778.3	741.6
Inventories, net	779.6	740.7
Other current assets	94.0	84.3
Total Current Assets	2,098.7	2,021.4
Property, Plant, and Equipment, net	539.0	528.0
Other Assets
Investments	66.1	65.9
Goodwill	1,976.1	1,970.5
Other intangible assets, net	652.9	669.9
Other long-term assets	148.0	146.9
TOTAL ASSETS	5,480.8	5,402.6
Current Liabilities
Short-term debt	4.7	4.7
Accounts payable	545.3	529.9
Accrued salaries, wages and employee benefits	69.1	144.2
Accrued insurance	84.7	75.6
Other accrued liabilities	348.3	334.1
Total Current Liabilities	1,052.1	1,088.5
Long-Term Debt	1,438.5	1,437.9
Other Non-Current Liabilities	507.1	505.6
TOTAL LIABILITIES	2,997.7	3,032.0
Hubbell Incorporated Shareholders’ Equity	2,472.7	2,360.9
Noncontrolling interest	10.4	9.7
TOTAL EQUITY	2,483.1	2,370.6
TOTAL LIABILITIES AND EQUITY	$ 5,480.8	$ 5,402.6

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).