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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 408.9 $ 363.5
Accounts receivable, net 435.2 397.6
Current insurance receivable - asbestos 20.5 20.5
Inventories, net:    
Finished goods 109.7 102.3
Finished parts and subassemblies 53.0 46.9
Work in process 65.4 60.7
Raw materials 161.3 167.0
Inventories, net 389.4 376.9
Current deferred tax asset 33.5 27.5
Other current assets 21.0 17.5
Total current assets 1,308.5 1,203.5
Property, plant and equipment:    
Cost 829.0 809.5
Less: accumulated depreciation 547.3 533.5
Property, plant and equipment, net 281.7 276.0
Long-term insurance receivable - asbestos 100.6 108.7
Long-term deferred tax assets 146.3 162.4
Other assets 109.2 101.3
Intangible assets, net 309.2 317.1
Goodwill 1,176.9 1,167.9
Total assets 3,432.4 3,336.9
Current liabilities:    
Short-term borrowings 100.9 49.6
Accounts payable 205.9 223.3
Current asbestos liability 75.0 75.0
Accrued liabilities 215.3 218.6
U.S. and foreign taxes on income 4.5 6.3
Total current liabilities 601.6 572.8
Long-term debt 745.0 744.6
Accrued pension and postretirement benefits 224.4 235.4
Long-term deferred tax liability 52.5 50.0
Long-term asbestos liability 436.7 470.5
Other liabilities 102.4 112.8
Total liabilities 2,162.6 2,186.1
Commitments and contingencies (Note 8)
Equity:    
Preferred shares, par value $.01; 5,000,000 shares authorized 0.0 0.0
Common stock, par value $1.00; 200,000,000 shares authorized, 72,426,139 shares issued 72.4 72.4
Capital surplus 267.4 263.6
Retained earnings 1,759.2 1,674.3
Accumulated other comprehensive loss (356.1) (376.7)
Treasury stock (484.8) (494.2)
Total shareholders' equity 1,258.1 1,139.4
Noncontrolling interests 11.7 11.4
Total equity 1,269.8 1,150.8
Total liabilities and equity $ 3,432.4 $ 3,336.9
Common stock issued 72,426,139 72,426,139
Less: Common stock held in treasury (14,039,832) (14,317,102)
Common stock outstanding 58,386,307 58,109,037