XML 119 R96.htm IDEA: XBRL DOCUMENT v3.24.0.1
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Deferred tax assets:    
Inventories $ 12.0 $ 9.6
Lease liabilities 42.5 27.4
Income tax credits 26.1 22.8
Accrued liabilities 42.5 40.8
Pension 32.2 38.9
Post retirement and post employment benefits 3.9 4.5
Stock-based compensation 7.4 6.9
Loss carryforwards 12.7 14.2
Capitalized research expenditures 40.0 18.4
Miscellaneous other 25.0 16.4
Gross deferred tax assets 244.3 199.9
Valuation allowance (37.4) (32.2)
Total deferred tax assets, net of valuation allowance 206.9 167.7
Deferred tax liabilities:    
Liability on undistributed foreign earnings (9.4) (7.0)
Goodwill and intangibles (329.0) (185.0)
Right-of-use assets (41.8) (26.1)
Property, plant, and equipment (59.8) (57.9)
Total deferred tax liabilities (440.0) (276.0)
Deferred taxes are reflected in the Consolidated Balance Sheet as follows:    
Non-current tax assets (included in Other long-term assets) 7.2 5.5
Non-current tax liabilities (included in Other Non-Current Liabilities) (240.3) (113.8)
TOTAL NET DEFERRED TAX LIABILITY $ (233.1) $ (108.3)