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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 332.8 $ 358.4 [1]
Trade receivables, net of allowance for doubtful accounts of $23.6 in 2016 and $24.9 in 2015 779.4 758.4 [1]
Income tax receivables 25.0 22.7 [1]
Other receivables 144.2 124.8 [1]
Inventories, net of inventory reserves of $27.6 in 2016 and $21.9 in 2015 766.0 660.8 [1]
Assets held for sale 7.0 10.3 [1]
Prepaid expenses and other current assets 321.7 280.2 [1]
Total current assets 2,376.1 2,215.6 [1]
Property and equipment, net [2] 1,033.5 945.7 [1],[3]
Goodwill 2,913.5 2,909.5 [1]
Intangible assets, net 741.8 784.3 [1]
Deferred taxes 178.4 204.7 [1]
Other non-current assets [1] 362.5 345.2
Total assets 7,605.8 7,405.0 [1]
Current liabilities:    
Short-term borrowings 332.2 241.9 [1]
Current portion of long-term debt 328.6 46.6 [1]
Accounts payable 823.3 675.3 [1]
Accrued restructuring costs 40.9 53.6 [1]
Other current liabilities 758.8 789.7 [1]
Total current liabilities [1] 2,283.8 1,807.1
Long-term debt, less current portion 4,000.7 4,266.8 [1]
Deferred taxes 58.6 75.0 [1]
Other non-current liabilities [2] 709.9 729.0 [1]
Total liabilities 7,053.0 6,877.9 [1]
Commitments and contingencies - Note 15 [1]
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2016 and 2015 [1]
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 227,292,089 in 2016 and 225,625,636 in 2015; shares outstanding: 193,307,520 in 2016 and 196,013,299 in 2015 22.7 22.6 [1]
Additional paid-in capital 1,958.9 1,915.0 [1]
Retained earnings 900.3 675.2 [1]
Common stock in treasury, 33,984,569 shares in 2016 and 29,612,337 shares in 2015 (1,470.2) (1,265.7) [1]
Accumulated other comprehensive loss, net of taxes (858.9) [4] (820.0) [1]
Total stockholders’ equity 552.8 527.1 [1]
Total liabilities and stockholders’ equity $ 7,605.8 $ 7,405.0 [1]
[1] As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Recently Issued Accounting Standards” of the notes to the condensed consolidated financial statements for further details.
[2] Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. See Note 1 “Organization and Basis of Presentation” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3] Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.
[4] The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $(31.4) million as of September 30, 2016 and $8.7 million as of September 30, 2015.