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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents [1] $ 326.9 $ 594.0
Trade receivables, net of allowance for doubtful accounts of $6.8 in 2018 and $6.5 in 2017 465.1 552.4
Income tax receivables 13.4 85.1
Other receivables 99.3 90.2
Inventories, net of inventory reserves of $18.6 in 2018 and $15.5 in 2017 563.8 506.8
Current assets held for sale 1.7 4.0
Prepaid expenses and other current assets 195.0 33.9
Total current assets 1,665.2 1,866.4
Property and equipment, net 1,013.6 998.4
Goodwill 1,943.3 1,939.8
Identifiable intangible assets, net 87.2 83.6
Deferred taxes 127.0 176.2
Other non-current assets 204.8 215.9
Total assets 5,041.1 5,280.3
Current liabilities:    
Short-term borrowings 155.7 25.3
Current portion of long-term debt 1.6 2.2
Accounts payable 729.9 723.8
Current liabilities held for sale 0.0 2.2
Accrued restructuring costs 20.6 15.4
Income tax payable 46.2 47.3
Other current liabilities 468.8 562.0
Total current liabilities 1,422.8 1,378.2
Long-term debt, less current portion 3,247.9 3,230.5
Deferred taxes 27.4 28.5
Other non-current liabilities 707.8 490.8
Total liabilities 5,405.9 5,128.0
Commitments and contingencies - Note 16
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2018 and 2017 0.0 0.0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 231,580,569 in 2018 and 230,080,944 in 2017; shares outstanding: 161,616,753 in 2018 and 168,595,521 in 2017 23.2 23.0
Additional paid-in capital 2,025.8 1,939.6
Retained earnings 1,502.9 1,735.2
Common stock in treasury, 69,963,816 shares in 2018 and 61,485,423 shares in 2017 (3,090.9) (2,700.6)
Accumulated other comprehensive loss, net of taxes (825.8) (844.9)
Total stockholders’ equity (364.8) 152.3
Total liabilities and stockholders’ equity $ 5,041.1 $ 5,280.3
[1] Due to the adoption of ASU 2016-18, the Company now is required to include restricted cash as part of the change in the total cash balance. As a result, amounts which were previously classified as cash flows from financing activities have been reclassified as they are recognized in the total change in cash. Refer to Note 2, "Recently Adopted and Issued Accounting Standards," in the Notes to Condensed Consolidated Financial Statements for more information.