Other Current and Non-Current Assets

12 Months Ended

Dec. 31, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Current and Non-Current Assets

OTHER CURRENT AND NON-CURRENT ASSETS

	2015		2014
Asbestos-related current assets	$	74.5	$	102.4
Current deferred income taxes(a)	—		56.2
Short-term investments	64.9		5.4
Prepaid income tax	14.3		25.9
Other	50.7		59.9
Other current assets	$	204.4	$	249.8
Other employee benefit-related assets	$	92.9	$	93.0
Capitalized software costs	28.2		26.8
Environmental related assets	10.8		7.7
Equity method investments	5.6		3.9
Other	15.8		18.4
Other non-current assets	$	153.3	$	149.8

(a) In the fourth quarter of 2015, we adopted a new accounting pronouncement related to the balance sheet presentation of deferred income taxes. We have applied the provisions of the guidance on a prospective basis. Refer to Note 2, Recent Accounting Pronouncements for further information.