Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Contract with Customer, Asset and Liability

Contract assets and liabilities consisted of the following:

	December 31
In millions	2022		2021		$ Change		% Change
Contract assets	$	48.4	$	48.8	$	(0.4)	(0.8)	%
Contract liabilities	58.1		39.4		18.7		47.5	%
Net contract assets (liabilities)	$	(9.7)	$	9.4	$	(19.1)	(203.2)	%

Disaggregation of Revenue

Geographic net sales information, based on geographic destination of the sale, was as follows:

	Years ended December 31
In millions	2022		2021		2020
U.S.	$	2,913.2	$	2,571.2	$	2,011.7
Western Europe	439.2		460.4		375.3
Developing (1)	515.5		487.1		427.5
Other Developed (2)	253.9		246.1		203.3
Consolidated net sales (3)	$	4,121.8	$	3,764.8	$	3,017.8
(1) Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia.
(2) Other Developed includes Australia, Canada and Japan.
(3) Net sales in Ireland, for each of the years presented, were not material.

Vertical market net sales information was as follows:

	Years ended December 31
In millions	2022		2021		2020
Residential	$	2,613.6	$	2,437.6	$	1,883.4
Commercial	809.1		665.9		528.6
Industrial	699.1		661.3		605.8
Consolidated net sales	$	4,121.8	$	3,764.8	$	3,017.8

Allowance for Doubtful Accounts Activity

The following table summarizes the activity in the allowance for credit losses:

	Years ended December 31
In millions	2022		2021		2020
Beginning balance	$	9.1	$	8.4	$	10.3
Bad debt expense (benefit) (1)	3.6		1.1		(0.5)
Acquisitions	0.3		1.0		0.1
Write-offs, net of recoveries	(1.4)		(0.9)		(1.6)
Other (2)	(0.8)		(0.5)		0.1
Ending balance	$	10.8	$	9.1	$	8.4
(1) The bad debt benefit for the year-ended December 31, 2020 includes the positive impact related to the adoption of Accounting Standards Update No. 2016-13 “Financial Instruments-Credit Losses.”
(2) Other amounts are primarily the effects of changes in currency translations and the impact of allowance for credits.

Property, Plant and Equipment

Property, plant and equipment, net

Property, plant and equipment is stated at historical cost. We compute depreciation by the straight-line method based on the following estimated useful lives:

	Years
Land improvements	5 to 20
Buildings and leasehold improvements	5 to 50
Machinery and equipment	3 to 15
Capitalized software	3 to 10

Long-lived Assets by Geographic Areas

The following table presents geographic Property, plant and equipment, net by region as of December 31:

In millions	2022		2021
U.S.	$	213.3	$	198.7
Western Europe	74.4		71.5
Developing (1)	46.8		29.5
Other Developed (2)	10.0		10.3
Consolidated (3)	$	344.5	$	310.0
(1) Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia.
(2) Other Developed includes Australia, Canada and Japan.
(3) Property, plant and equipment, net in Ireland, for each of the years presented, were not material.