Balance Sheet Accounts and Supplemental Disclosures

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Accounts and Supplemental Disclosures

Balance Sheet Accounts and Supplemental Disclosures

a.  Accounts Receivable

	As of December 31,
	2021		2020
	(In millions)
Billed	$	60.3	$	75.3
Other trade receivables	0.3		0.3
Accounts receivable	$	60.6	$	75.6

b.  Other Current Assets

	As of December 31,
	2021		2020
	(In millions)
Deferred costs recoverable from the U.S. government	$	37.4	$	41.0
Income tax receivable	22.1		46.9
Prepaid expenses	15.3		18.0
Inventories	10.0		10.0
Other	23.0		20.6
Other current assets	$	107.8	$	136.5

c.  Property, Plant and Equipment, net

	As of December 31,
	2021		2020
	(In millions)
Land	$	71.1	$	71.2
Buildings and improvements	503.0		433.4
Machinery and equipment, including capitalized software	499.1		471.3
Construction-in-progress	50.0		105.5
	1,123.2		1,081.4
Less: accumulated depreciation	(702.1)		(658.3)
Property, plant and equipment, net	$	421.1	$	423.1

Depreciation expense for 2021, 2020, and 2019 was $48.8 million, $49.2 million, and $58.1 million, respectively. The Company had $8.8 million of property, plant and equipment additions included in accounts payable as of December 31, 2021.

d.  Intangible Assets

	As of December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(In millions)
Customer related	$	87.2	$	81.3	$	5.9
Intellectual property\trade secrets	34.2		22.3		11.9
Trade name	21.0		6.1		14.9
Acquired technology	19.2		17.0		2.2
Intangible assets	$	161.6	$	126.7	$	34.9

	As of December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(In millions)
Customer related	$	87.2	$	75.3	$	11.9
Intellectual property\trade secrets	34.2		19.7		14.5
Trade name	21.0		5.4		15.6
Acquired technology	19.2		16.4		2.8
Intangible assets	$	161.6	$	116.8	$	44.8

The intangible assets relate to the Company’s Aerospace and Defense segment. Amortization expense related to intangible assets was $9.9 million, $13.4 million, and $13.6 million in 2021, 2020, and 2019, respectively.

Future amortization expense for the five succeeding years is estimated to be as follows:

Year Ending December 31,	Future Amortization Expense
	(In millions)
2022	$	6.6
2023	6.1
2024	4.8
2025	3.7
2026	2.1
	$	23.3

e.  Other Noncurrent Assets

	As of December 31,
	2021		2020
	(In millions)
Real estate held for entitlement and leasing	$	103.7	$	101.8
Receivable from Northrop Grumman Corporation for environmental remediation costs	34.5		40.5
Deferred costs recoverable from the U.S. government	62.1		54.7
Other	43.0		57.8
Other noncurrent assets	$	243.3	$	254.8

f.  Other Current Liabilities

	As of December 31,
	2021		2020
	(In millions)
Accrued compensation and employee benefits	$	122.0	$	118.0
Dividends payable	1.7		447.8
Other	49.0		43.9
Other current liabilities	$	172.7	$	609.7

g.  Accumulated Other Comprehensive Loss, Net of Income Taxes

The following table presents the changes in accumulated other comprehensive loss by components, net of income taxes:

	Actuarial Losses, Net		Prior Service Credits (Costs), Net		Total
	(In millions)
December 31, 2019	$	(236.4)	$	(0.1)	$	(236.5)
Actuarial losses, net of income taxes	(31.5)		—		(31.5)
Amortization of net actuarial losses and prior service credits, net of income taxes	40.3		0.1		40.4
December 31, 2020	(227.6)		—		(227.6)
Actuarial gains, net of income taxes	80.5		—		80.5
Amortization of net actuarial losses and prior service costs, net of income taxes	46.0		0.1		46.1
December 31, 2021	$	(101.1)	$	0.1	$	(101.0)