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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 569.2 $ 322.6 [1]
Trade receivables, net of allowance for doubtful accounts of $27.3 in 2015 and $28.8 in 2014 1,040.9 1,002.2 [1]
Income tax receivables 44.0 277.0 [1]
Other receivables 139.4 127.0 [1]
Inventories 765.2 695.3 [1],[2]
Deferred taxes 92.2 105.6 [1]
Assets held for sale 5.8 69.3 [1]
Prepaid expenses and other current assets 88.3 122.1 [1]
Total current assets 2,745.0 2,721.1 [1]
Property and equipment, net 928.4 970.6 [1],[3]
Goodwill 2,959.7 [4] 2,998.6 [1]
Intangible assets, net 832.4 872.2 [1],[4]
Non-current deferred taxes 120.4 105.9 [1]
Other non-current assets 369.5 373.3 [1]
Total assets 7,955.4 8,041.7 [1]
Current liabilities:    
Short-term borrowings 92.7 130.4 [1]
Current portion of long-term debt 1.6 1.1 [1]
Accounts payable 733.3 638.7 [1]
Deferred taxes 7.7 4.8 [1]
Liabilities held for sale [1]   6.1
Accrued restructuring costs 55.4 55.8 [1]
Other current liabilities 763.3 894.0 [1]
Total current liabilities 1,654.0 1,730.9 [1]
Long-term debt, less current portion 4,369.0 4,282.5 [1]
Non-current deferred taxes 156.3 161.5 [1]
Other non-current liabilities 701.4 704.0 [1]
Total liabilities $ 6,880.7 $ 6,878.9 [1]
Commitments and contingencies    
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2015 and 2014    
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 225,687,281 in 2015 and 224,683,653 in 2014; shares outstanding: 208,931,639 in 2015 and 210,531,894 in 2014 $ 22.6 $ 22.5 [1]
Additional paid-in capital 1,829.8 1,787.0 [1]
Retained earnings 517.9 448.5 [1]
Common stock in treasury, 16,755,642 shares in 2015 and 14,151,759 shares in 2014 (611.5) (481.4) [1]
Accumulated other comprehensive loss, net of taxes:    
Unrecognized pension items (220.9) (236.5) [1]
Cumulative translation adjustment (448.8) (382.5) [1]
Unrealized net (loss) gains on derivative instruments for net investment hedge (19.3)  
Unrealized net (loss) gains on derivative instruments for cash flow hedge 4.9 5.2 [1]
Total accumulated other comprehensive loss, net of taxes (684.1) (613.8) [1]
Total stockholders’ equity 1,074.7 1,162.8 [1]
Total liabilities and stockholders’ equity $ 7,955.4 $ 8,041.7 [1]
[1] During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to condensed consolidated financial statements for further details.
[2] Excludes North American foam trays and absorbent pads business inventory. Refer to Note 3, “Divestitures and Acquisitions” of the notes to condensed consolidated financial statements for further details.
[3] Excludes North American foam trays and absorbent pads business property and equipment, net. Refer to Note 3, “Divestitures and Acquisitions” of the notes to condensed consolidated financial statements for further details.
[4] Excludes North American foam trays and absorbent pads business goodwill. Refer to Note 3, “Divestitures and Acquisitions” of the notes to condensed consolidated financial statements for further details.