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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents [1] $ 180.1 $ 594.0
Trade receivables, net of allowance for doubtful accounts of $6.7 in 2018 and $6.5 in 2017 495.5 552.4
Income tax receivables 19.9 85.1
Other receivables 100.0 90.2
Inventories, net of inventory reserves of $19.6 in 2018 and $15.5 in 2017 580.2 506.8
Current assets held for sale 0.7 4.0
Prepaid expenses and other current assets 154.6 33.9
Total current assets 1,531.0 1,866.4
Property and equipment, net 983.7 998.4
Goodwill 1,932.0 1,939.8
Identifiable intangible assets, net 85.6 83.6
Deferred taxes 113.6 176.2
Other non-current assets 213.3 215.9
Total assets 4,859.2 5,280.3
Current liabilities:    
Short-term borrowings 117.1 25.3
Current portion of long-term debt 1.5 2.2
Accounts payable 790.7 723.8
Current liabilities held for sale 0.0 2.2
Accrued restructuring costs 20.4 15.4
Income tax payable 64.5 47.3
Other current liabilities 379.9 562.0
Total current liabilities 1,374.1 1,378.2
Long-term debt, less current portion 3,217.1 3,230.5
Deferred taxes 19.4 28.5
Other non-current liabilities 621.0 490.8
Total liabilities 5,231.6 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: 231,571,835 in 2018 and 230,080,944 in 2017; shares outstanding: 159,897,862 in 2018 and 168,595,521 in 2017 23.2 23.0
Additional paid-in capital 2,035.0 1,939.6
Retained earnings 1,593.2 1,735.2
Common stock in treasury, 71,673,973 shares in 2018 and 61,485,423 shares in 2017 (3,165.0) (2,700.6)
Accumulated other comprehensive loss, net of taxes (858.8) (844.9)
Total stockholders’ equity (372.4) 152.3
Total liabilities and stockholders’ equity $ 4,859.2 $ 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.