Supplemental Financial Statement Information

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Financial Statement Information

4. SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION

Accounts Receivable

	September 30, 2023			December 31,  2022
Accounts receivable - trade	$	1,180.0		$	1,545.3
Accounts receivable - other		30.8			61.1
Allowance for doubtful accounts		(66.3	)		(82.8	)
Total accounts receivable, net	$	1,144.5		$	1,523.6

Inventories

	September 30, 2023		December 31,  2022
Raw materials	$	492.3	$	535.8
Work in process		176.9		212.7
Finished goods		695.4		839.6
Total inventories, net	$	1,364.6	$	1,588.1

Accrued and Other Liabilities

	September 30, 2023		December 31,  2022
Compensation and employee benefit liabilities	$	191.0	$	301.3
Deferred revenue		102.0		97.9
Accrued interest		56.9		118.1
Operating lease liabilities		40.9		47.7
Product warranty accrual		36.1		44.8
Restructuring liabilities		35.2		58.9
Contract manufacturer inventory repurchase obligation		13.5		79.1
Other		243.6		302.2
Total accrued and other liabilities	$	719.2	$	1,050.0

Operating Lease Information

	Balance Sheet Location	September 30, 2023		December 31,  2022
Right of use assets	Other noncurrent assets	$	167.5	$	149.0
Lease liabilities - current	Accrued and other liabilities	$	40.9	$	47.7
Lease liabilities - noncurrent	Other noncurrent liabilities		146.6		123.5
Total lease liabilities		$	187.5	$	171.2

Accumulated Other Comprehensive Loss

The following table presents changes in accumulated other comprehensive loss (AOCL), net of tax:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
Foreign currency translation
Balance at beginning of period	$	(249.6	)	$	(276.2	)	$	(270.3	)	$	(165.8	)
Other comprehensive loss		(45.1	)		(94.5	)		(24.4	)		(204.9	)
Balance at end of period	$	(294.7	)	$	(370.7	)	$	(294.7	)	$	(370.7	)
Defined benefit plan activity
Balance at beginning of period	$	(14.9	)	$	(14.7	)	$	(14.8	)	$	(13.4	)
Other comprehensive income (loss)		0.1			—			—			(1.6	)
Amounts reclassified from AOCL		—			—			—			0.3
Balance at end of period	$	(14.8	)	$	(14.7	)	$	(14.8	)	$	(14.7	)
Hedging instruments
Balance at beginning of period	$	(11.7	)	$	(15.4	)	$	(11.2	)	$	(27.2	)
Other comprehensive income		3.8			3.7			3.3			15.5
Balance at end of period	$	(7.9	)	$	(11.7	)	$	(7.9	)	$	(11.7	)
Net AOCL at end of period	$	(317.4	)	$	(397.1	)	$	(317.4	)	$	(397.1	)

Amounts reclassified from net AOCL related to defined benefit plans are recorded in other income, net in the Condensed Consolidated Statements of Operations.

Cash Flow Information

	Nine Months Ended
	September 30,
	2023		2022
Cash paid during the period for:
Income taxes, net of refunds	$	85.5	$	91.7
Interest		546.6		469.6