Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v3.23.2
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Unconditional Purchase Obligations
The Company has entered into certain long-term unconditional purchase obligations with suppliers. These agreements are non-cancellable and specify terms, including fixed or minimum quantities to be purchased, fixed or variable price provisions, and the approximate timing of payment. As of June 30, 2023, unconditional purchase obligations were as follows (in millions):
Fiscal year ending December 31:
2023 $ 20.3 
2024 17.4 
2025 0.6 
2026 0.5 
2027 — 
2028 and thereafter — 
Total $ 38.8 
Litigation
The Company is subject to various legal proceedings, claims, litigation, investigations and contingencies arising out of the ordinary course of business. While the ultimate results of such suits or other proceedings against the Company cannot be predicted with certainty, we believe the resolution of these matters will not have a material effect on our results of operations, financial condition, or cash flows. If we believe the likelihood of an adverse legal outcome is probable and the amount is reasonably estimable, we accrue a liability in accordance with accounting guidance for contingencies. We consult with legal counsel on matters related to litigation and seek input both within and outside the Company.
In April 2023, one of our Russian customers made a claim against the Company regarding liquidated damages for certain delays under the terms of an active project in the amount of $19.3 million. In June 2023, the same customer made a demand against the Company for the return of all payments received by the Company in the amount of $10.5 million related to a Finland nuclear power plant project cancelled in May 2022. No legal actions have been taken to date by the customer on these matters, and management views both the claim and the demand for payments without merit and expect to vigorously defend against any asserted claims. However, uncertainty exists as to the resolutions of these matters, including any impact from potential modifications of the underlying active contract.