FRANKLIN ELECTRIC CO INC (FELE) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Jan-02-16
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
ASSETS
Current assets:
Cash and cash equivalents	45.8	40.5	130.8	64.4	59.2	67.2	104.3	81.6
Receivables, less allowances of $4,211 and $3,975, respectively	230.4	196.2	159.8	173.3	172.9	171.0	146.0	127.3

Inventories:
Raw material	196.9	166.9	87.2	98.3	98.9	109.6	80.1	82.2
Work-in-process	30.3	24.7	20.6	18.4	18.6	16.7	18.7	18.4
Finished goods	317.8	258.3	193.1	183.6	196.5	186.0	104.7	94.0
Total inventories	545.0	450.0	300.9	300.2	314.0	312.3	203.5	194.6
Other current assets	36.9	38.0	27.7	29.5	33.8	38.6	30.0	34.7
Total current assets	858.1	724.6	619.3	567.4	579.9	589.1	483.8	438.1

Property, plant, and equipment, at cost:
Land and buildings	159.3	154.5	152.3	142.2	144.3	142.1	121.4	117.8
Machinery and equipment	297.5	296.1	287.8	276.5	269.5	268.4	242.2	233.8
Furniture and fixtures	50.3	44.3	47.9	43.6
Other	50.2	40.2	33.2	29.3	22.8	22.8	19.1	19.8
Property, plant, and equipment, gross	557.3	535.2	521.2	491.7	486.0	486.2	430.1	411.1
Less: Allowance for depreciation	-342.1	-324.5	-312.2	-290.3	-278.9	-270.5	-234.0	-221.0
Property, plant, and equipment, net	215.2	210.7	209.0	201.3	207.1	215.7	196.1	190.0
Lease right-of-use assets, net	48.9	48.4
Deferred income taxes	6.8	7.7	8.8	9.2	8.7	8.9	4.6	3.5
Intangible assets, net	231.3	249.7	133.8	131.1	135.1	131.5	134.7	141.4
Goodwill	328.0	329.6	266.7	256.1	248.7	236.8	199.6	199.8
Other assets	5.9	4.5	2.7	2.0	2.9	3.3	21.1	21.7
Total assets	1,694.2	1,575.2	1,272.3	1,194.7	1,182.4	1,185.4	1,039.9	996.1

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	139.3	164.8	95.9	82.6	76.7	79.3	63.9	57.8
Accrued expenses and other current liabilities	120.6	115.4	89.0	68.4	64.8	63.9	56.8	52.1
Current lease liability	16.0	15.3	11.1	9.8
Income taxes	3.2	2.5	5.1	3.0	2.4	2.2	3.3	1.8
Current maturities of long-term debt and short-term borrowings	126.8	98.0	2.6	21.9	112.0	100.5	33.7	32.9
Total current liabilities	405.8	396.0	203.7	185.8	255.9	245.9	157.8	144.7
Long-term debt	89.3	90.5	92.0	93.1	94.4	125.6	156.5	187.8
Long-term lease liability	32.9	32.9	20.9	17.8
Income taxes payable non-current	8.7	11.6	12.0	12.0	10.9	17.4
Deferred income taxes	29.7	28.2	25.7	27.6	28.9	30.9	40.5	33.4
Employee benefit plans	31.9	40.7	44.4	38.3	38.0	42.2	45.3	47.4
Other long-term liabilities	25.2	26.6	24.0	21.8	17.9	19.3	17.1	16.5

Redeemable noncontrolling interest
Shareholders’ equity:
Common stock (65	4.6	4.6	4.6	4.6	4.6	4.7	4.6	4.6
Additional capital	325.4	310.6	283.4	269.7	257.5	240.1	228.6	216.5
Retained earnings	969.3	859.8	764.6	712.5	654.7	604.9	550.1	498.2
Accumulated other comprehensive loss	-231.4	-228.6	-204.8	-190.2	-183.0	-149.0	-169.9	-161.6
Total shareholders’ equity	1,067.9	946.5	847.8	796.5	733.9	700.7	613.4	557.7
Noncontrolling interest	2.3	2.2	2.1	2.1	2.0	2.0	1.6	1.8
Total equity	1,070.1	948.7	849.9	798.7	735.8	702.6	615.1	559.5
Total liabilities and equity	1,694.2	1,575.2	1,272.3	1,194.7	1,182.4	1,185.4	1,039.9	996.1