Other Current Liabilities

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

11. Other Current Liabilities

The following is a summary of other current liabilities (in millions):

	2023		2022
Accrued compensation		166.5		136.1
Accrued warranty		30.0		24.7
Contingent consideration		7.2		8.1
Income taxes payable		138.7		85.5
Other taxes payable		18.7		18.5
Derivative liabilities		0.9		0.9
Operating lease liabilities		23.3		16.4
Legal and professional fees		17.1		14.2
Hybrid instruments liability		14.1		—
Restructuring liabilities		12.5		0.6
Other accrued expenses		49.2		42.0
Other current liabilities	$	478.2	$	347.0

The following table sets forth the changes in accrued warranty (in millions):

Balance at December 31, 2020	$	20.3
Accruals for warranties issued during the year		23.4
Settlements of warranty claims		(19.0	)
Foreign currency impact		(0.9	)
Balance at December 31, 2021		23.8
Accruals for warranties issued during the year		12.9
Settlements of warranty claims		(10.9	)
Foreign currency impact		(1.1	)
Balance at December 31, 2022		24.7
Accruals for warranties issued during the year		16.8
Settlements of warranty claims		(12.4	)
Foreign currency impact		0.9
Balance at December 31, 2023	$	30.0