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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 281.3 $ 456.1
Trade receivables, net of allowance for credit losses of $13.9 in 2023 and $11.5 in 2022 479.8 592.4
Income tax receivables 46.8 40.3
Other receivables 86.0 91.5
Advances and deposits (Note 17) and (Note 18) 198.7 12.7
Inventories, net of inventory reserves of $39.6 in 2023 and $28.9 in 2022 (Note 7) 834.2 866.3
Current assets held for sale 1.0 0.0
Prepaid expenses and other current assets 195.0 57.5
Total current assets 2,122.8 2,116.8
Property and equipment, net (Note 8) 1,386.2 1,275.9
Goodwill (Note 9) 2,913.3 2,174.5
Identifiable intangible assets, net (Note 9) 445.8 138.4
Deferred taxes 119.5 141.5
Operating lease right-of-use-assets (Note 4) 86.0 70.2
Other non-current assets 294.1 297.4
Total assets 7,367.7 6,214.7
Current liabilities:    
Short-term borrowings (Note 13) 211.6 6.6
Current portion of long-term debt (Note 13) 28.1 434.0
Current portion of operating lease liabilities (Note 4) 29.3 24.0
Accounts payable 746.1 865.6
Accrued restructuring costs (Note 12) 22.4 14.7
Income tax payable 19.8 19.9
Other current liabilities 662.6 717.0
Total current liabilities 1,719.9 2,081.8
Long-term debt, less current portion (Note 13) 4,630.9 3,237.9
Long-term operating lease liabilities, less current portion (Note 4) 64.5 49.6
Deferred taxes 58.3 33.4
Other non-current liabilities 485.7 467.9
Total liabilities 6,959.3 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: 234,012,500 in 2023 and 233,233,456 in 2022; shares outstanding: 144,426,208 in 2023 and 144,672,113 in 2022 23.4 23.3
Additional paid-in capital 2,167.8 2,155.3
Retained earnings 3,293.7 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) (1,000.5) (978.8)
Total stockholders’ equity 408.4 344.1
Total liabilities and stockholders’ equity $ 7,367.7 $ 6,214.7