Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Total Government Assistance Recognized

The following table presents the total government assistance recognized during the year ended December 31, 2023 (in millions of dollars):

Grantor	Grant	Amount		Duration	Classification
Indiana Economic Development Corporation	IN EDGE Tax Credit	$	1.6	2021 - 2030	Cost of products sold, excluding depreciation and amortization
Total		$	1.6

Estimated Useful Lives of Property, Plant and Equipment

Depreciation is computed using the straight-line method at rates based on the estimated useful lives of the various classes of assets. Depreciable finance lease assets and leasehold improvements are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term. The estimated useful lives are as follows:

	Range (in years)
Land improvements	1-25
Buildings and leasehold improvements	2-45
Machinery and equipment	1-22
Depreciable finance lease assets	2-120

Summarizes of Total Deferred Implementation Costs and Accumulated Amortization Related to Hosted Cloud Computing Software

The following table summarizes the total deferred implementation costs and accumulated amortization related to the hosted cloud computing software for our enterprise resource planning system refresh project (in millions of dollars):

	As of December 31,									Average
	2023			2022			2021			Useful Life
Deferred implementation costs1	$	11.7		$	10.4		$	7.8		9 years
Accumulated amortization	$	(2.2	)	$	(1.1	)	$	(0.1	)	n/a

1.We began amortizing deferred implementation costs in December 2021 and will amortize such costs within Selling, general, administrative, research and development over a nine-year period.