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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 281.2 $ 561.0
Trade receivables, net of allowance for credit losses of $12.7 in 2022 and $11.1 in 2021 639.9 620.3
Income tax receivables 14.7 28.8
Other receivables 78.2 83.7
Inventories, net of inventory reserves of $26.4 in 2022 and $24.1 in 2021 (Note 7) 932.7 725.7
Prepaid expenses and other current assets 64.4 50.1
Total current assets 2,011.1 2,069.6
Property and equipment, net (Note 8) 1,245.9 1,232.0
Goodwill (Note 9) 2,173.9 2,189.4
Identifiable intangible assets, net (Note 9) 147.1 152.6
Deferred taxes 126.1 138.4
Non-current assets held for sale 0.0 1.5
Operating lease right-of-use-assets (Note 4) 61.2 63.8
Other non-current assets 340.1 382.0
Total assets 6,105.4 6,229.3
Current liabilities:    
Short-term borrowings (Note 13) 1.8 1.3
Current portion of long-term debt (Note 13) 8.9 487.2
Current portion of operating lease liabilities (Note 4) 21.3 21.2
Accounts payable 987.8 959.9
Accrued restructuring costs (Note 12) 9.9 10.2
Income tax payable 32.2 22.7
Other current liabilities 443.5 504.8
Total current liabilities 1,505.4 2,007.3
Long-term debt, less current portion (Note 13) 3,655.4 3,219.6
Long-term operating lease liabilities, less current portion (Note 4) 44.1 44.5
Deferred taxes 46.8 46.7
Non-current liabilities held for sale 0.0 0.9
Other non-current liabilities 654.0 661.6
Total liabilities 5,905.7 5,980.6
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2022 and 2021 0.0 0.0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 233,173,357 in 2022 and 232,483,281 in 2021; shares outstanding: 145,226,204 in 2022 and 148,099,157 in 2021 23.3 23.2
Additional paid-in capital 2,134.2 2,123.4
Retained earnings 2,993.6 2,790.7
Common stock in treasury, 87,947,153 shares in 2022 and 84,384,124 shares in 2021 (3,989.1) (3,754.7)
Accumulated other comprehensive loss, net of taxes (Note 20) (962.3) (933.9)
Total stockholders’ equity 199.7 248.7
Total liabilities and stockholders’ equity $ 6,105.4 $ 6,229.3