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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 303.1 $ 456.1
Trade receivables, net of allowance for credit losses of $12.4 in 2023 and $11.5 in 2022 481.8 592.4
Income tax receivables 32.2 40.3
Other receivables 94.5 104.2
Inventories, net of inventory reserves of $31.4 in 2023 and $28.9 in 2022 (Note 7) 961.7 866.3
Prepaid expenses and other current assets 193.8 57.5
Total current assets 2,067.1 2,116.8
Property and equipment, net (Note 8) 1,396.5 1,275.9
Goodwill (Note 9) 2,908.9 2,174.5
Identifiable intangible assets, net (Note 9) 472.0 138.4
Deferred taxes 123.7 141.5
Operating lease right-of-use-assets (Note 4) 82.4 70.2
Other non-current assets 305.6 297.4
Total assets 7,356.2 6,214.7
Current liabilities:    
Short-term borrowings (Note 13) 175.7 6.6
Current portion of long-term debt (Note 13) 14.0 434.0
Current portion of operating lease liabilities (Note 4) 27.1 24.0
Accounts payable 826.3 865.6
Accrued restructuring costs (Note 12) 11.8 14.7
Income tax payable 24.6 19.9
Other current liabilities 653.3 717.0
Total current liabilities 1,732.8 2,081.8
Long-term debt, less current portion (Note 13) 4,640.4 3,237.9
Long-term operating lease liabilities, less current portion (Note 4) 58.2 49.6
Deferred taxes 97.0 33.4
Other non-current liabilities 481.3 467.9
Total liabilities 7,009.7 5,870.6
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2023 and 2022 0.0 0.0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 233,971,693 in 2023 and 233,233,456 in 2022; shares outstanding: 144,385,401 in 2023 and 144,672,113 in 2022 23.4 23.3
Additional paid-in capital 2,152.8 2,155.3
Retained earnings 3,195.5 3,163.4
Common stock in treasury, 89,586,292 shares in 2023 and 88,561,343 shares in 2022 (4,076.0) (4,019.1)
Accumulated other comprehensive loss, net of taxes (Note 20) (949.2) (978.8)
Total stockholders’ equity 346.5 344.1
Total liabilities and stockholders’ equity $ 7,356.2 $ 6,214.7