Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Summary of Impacts of ASU on Condensed Consolidated Financial Statements

The impacts of this ASU on our condensed consolidated financial statements for the three and six month periods ended June 30, 2017 and as of December 31, 2017 are included in the tables below.

				New			New
	As			Revenue			Pension
	Previously			Standard			Standard						As
(in millions)	Reported			Adjustment			Adjustment			Reclassifications			Restated
Statement of Earnings
Three Months Ended June 30, 2017
Net Sales	$	1,954.4		$	(4.9	)	$	-		$	-		$	1,949.5
Research and development		90.1			-			-			2.5			92.6
Selling, general and administrative		748.0			(4.9	)		2.2			6.9			752.2
Intangible asset impairment		-			-			-			26.8			26.8
Acquisition, integration and related		-			-			-			72.5			72.5
Quality remediation		-			-			-			49.9			49.9
Special items		158.6			-			-			(158.6	)		-
Operating expenses		1,672.1			(4.9	)		2.2			-			1,669.4
Operating Profit		282.3			-			(2.2	)		-			280.1
Other expense, net		(3.9	)		-			2.2			-			(1.7	)

				New			New
	As			Revenue			Pension
	Previously			Standard			Standard						As
(in millions)	Reported			Adjustment			Adjustment			Reclassifications			Restated
Statement of Earnings
Six Months Ended June 30, 2017
Net Sales	$	3,931.7		$	(9.8	)	$	-		$	-		$	3,921.9
Research and development		181.2			-			-			2.5			183.7
Selling, general and administrative		1,508.8			(9.8	)		4.5			24.4			1,527.9
Intangible asset impairment		-			-			-			26.8			26.8
Acquisition, integration and related		-			-			-			130.7			130.7
Quality remediation		-			-			-			84.3			84.3
Special items		268.7			-			-			(268.7	)		-
Operating expenses		3,299.0			(9.8	)		4.5			-			3,293.7
Operating Profit		632.7			-			(4.5	)		-			628.2
Other expense, net		(6.7	)		-			4.5			-			(2.2	)

			New
	As		Revenue
	Previously		Standard			As
(in millions)	Reported		Adjustment			Restated
Balance Sheet
December 31, 2017
Accounts receivable, less allowance for doubtful accounts	$	1,494.6	$	49.5		$	1,544.1
Inventories		2,081.8		(13.5	)		2,068.3
Prepaid expenses and other current assets		414.5		13.5			428.0
Other current liabilities		1,299.8		49.5			1,349.3