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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of Rollforward of the Allowance for Credit Losses

The following table is a rollforward of the allowance for credit losses for the years ended December 31, 2023, 2022 and 2021.

 

 

2023

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

5.3

 

 

$

7.3

 

 

$

8.5

 

Bad debt expenses

 

 

2.3

 

 

 

0.1

 

 

 

 

Use of reserve

 

 

(1.4

)

 

 

(1.8

)

 

 

(1.3

)

Currency translation

 

 

(0.1

)

 

 

(0.3

)

 

 

0.1

 

Balance at end of period

 

$

6.1

 

 

$

5.3

 

 

$

7.3

 

Schedule of Estimated Useful Lives of Intangible Assets Subject to Amortization

The Company’s intangible assets subject to amortization are amortized straight-line over the following minimum and maximum estimated useful lives according to the Company's policy:

 

 

Years

Patents

 

20

Customer relationships

 

12 - 18

Trademarks and tradenames

 

5

Noncompetition agreements

 

5

Schedule of Estimated Useful Lives of Property, Plant and Equipment

Property, plant and equipment are generally depreciated over the following estimated useful lives according to the Company's policy:

 

 

Years

Building and improvements

 

10 - 50

Machinery, equipment and tooling

 

5 - 20

Furniture and fixtures

 

5 - 10

Computer hardware and software

 

3 - 5

Rental cranes

 

5 - 10