Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts and Reserves

Valuation and Qualifying Accounts and Reserves

Years Ended December 31, 2022, 2021 and 2020

Description	Balance at Beginning of Year		Charged to Costs and Expenses		Deductions			Foreign Currency Translation and Other		Balance at End of Year
(In millions)
Year Ended December 31, 2022
Allowance for credit losses on trade receivables	$	11.1	$	6.2	$	(5.6)	(1)	$	(0.2)	$	11.5
Inventory obsolescence reserve	$	24.1	$	19.8	$	(14.6)	(2)	$	(0.4)	$	28.9
Valuation allowance on deferred tax assets	$	189.6	$	2.0	$	(1.9)	(3)	$	(10.2)	$	179.5
Allowance for credit loss on debt investment	$	8.0	$	—	$	(8.0)	(4)	$	—	$	—
Year Ended December 31, 2021
Allowance for credit losses on trade receivables	$	11.7	$	2.1	$	(2.5)	(1)	$	(0.2)	$	11.1
Inventory obsolescence reserve	$	21.1	$	9.5	$	(5.8)	(2)	$	(0.7)	$	24.1
Valuation allowance on deferred tax assets	$	207.1	$	3.7	$	(6.2)	(3)	$	(15.0)	$	189.6
Allowance for credit loss on debt investment	$	—	$	8.0	$	—		$	—	$	8.0
Year Ended December 31, 2020
Allowance for credit losses on trade receivables	$	8.2	$	3.7	$	(0.2)	(1)	$	—	$	11.7
Inventory obsolescence reserve	$	19.6	$	9.0	$	(7.8)	(2)	$	0.3	$	21.1
Valuation allowance on deferred tax assets	$	197.6	$	(1.4)	$	(6.5)	(3)	$	17.4	$	207.1
Allowance for credit loss on debt investment	$	—	$	—	$	—		$	—	$	—

      

(1)Primarily accounts receivable balances written off, net of recoveries.

(2)Primarily items removed from inventory.

(3)Primarily includes valuation allowances released as a result of the cessation of operations in certain jurisdictions and write off of related deferred tax asset balances.

(4)Primarily due to exchange of debt investment for preferred securities of the same investee during the year.