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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 642.3 $ 706.2
Accounts receivable, net 493.5 418.4
Current insurance receivable - asbestos 25.0 25.0
Inventories, net:    
Finished goods 112.6 101.1
Finished parts and subassemblies 50.1 46.1
Work in process 64.2 51.6
Raw materials 179.6 150.5
Inventories, net 406.5 349.3
Other current assets 69.6 19.6
Total current assets 1,636.9 1,518.5
Property, plant and equipment:    
Cost 1,154.4 839.4
Less: accumulated depreciation 560.2 557.0
Property, plant and equipment, net 594.2 282.4
Long-term insurance receivable - asbestos 83.3 90.1
Long-term deferred tax assets 85.7 104.2
Other assets 119.9 114.6
Intangible assets, net 521.0 276.8
Goodwill 1,449.5 1,206.9
Total assets 4,490.5 3,593.5
Current liabilities:    
Short-term borrowings and current maturities of long-term debt 272.7 249.4
Accounts payable 252.4 247.4
Current asbestos liability 85.0 85.0
Accrued liabilities 300.5 252.1
U.S. and foreign taxes on income 1.4 3.6
Total current liabilities 912.0 837.5
Long-term debt 1,138.5 494.1
Accrued pension and postretirement benefits 275.1 240.5
Long-term deferred tax liability 100.8 44.9
Long-term asbestos liability 510.6 520.3
Other liabilities 105.4 107.7
Total liabilities 3,042.4 2,245.0
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 287.8 291.7
Retained earnings 1,867.7 1,813.3
Accumulated other comprehensive loss (345.1) (380.1)
Treasury stock (438.0) (452.1)
Total shareholders' equity 1,444.8 1,345.2
Noncontrolling interests 3.3 3.3
Total equity 1,448.1 1,348.5
Total liabilities and equity $ 4,490.5 $ 3,593.5
Common stock issued 72,426,139 72,426,139
Less: Common stock held in treasury (12,598,266) (13,014,503)
Common stock outstanding 59,827,873 59,411,636