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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of Rollforward of the Allowance for Doubtful Accounts

The following table is a rollforward of the allowance for doubtful accounts for the years ended December 31, 2021 and 2020.

 

 

2021

 

 

2020

 

Balance at beginning of period

 

$

8.5

 

 

$

7.9

 

Bad debt expenses

 

 

 

 

 

3.6

 

Use of reserve

 

 

(1.3

)

 

 

(2.7

)

Currency translation

 

 

0.1

 

 

 

(0.3

)

Balance at end of period

 

$

7.3

 

 

$

8.5

 

 

Schedule of Estimated Useful Lives of Other Intangible Assets Subject to Amortization

The Company’s other intangible assets subject to amortization are amortized straight-line over the following estimated useful lives:

 

 

Useful lives

Patents

 

20 years

Customer relationships

 

12-18 years

Trademarks and tradenames

 

5 years

Noncompetition agreements

 

5 years

Other intangibles

 

9 months

 

Schedule of Estimated Useful Lives of Property, Plant and Equipment

Property, plant and equipment are depreciated over the following estimated useful lives:

 

 

 

Years

Building and improvements

 

2 - 43

Machinery, equipment and tooling

 

3 - 18

Furniture and fixtures

 

3 - 10

Computer hardware and software

 

3 - 10

Rental cranes

 

5 - 15