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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 318.2 $ 706.2
Accounts receivable, net 542.0 418.4
Current insurance receivable - asbestos 25.0 25.0
Inventories, net:    
Finished goods 121.2 101.1
Finished parts and subassemblies 50.2 46.1
Work in process 64.1 51.6
Raw materials 176.0 150.5
Inventories, net 411.5 349.3
Other current assets 77.1 19.6
Total current assets 1,373.8 1,518.5
Property, plant and equipment:    
Cost 1,144.2 839.4
Less: accumulated depreciation 562.6 557.0
Property, plant and equipment, net 581.6 282.4
Long-term insurance receivable - asbestos 79.1 90.1
Long-term deferred tax assets 32.2 104.2
Other assets 116.7 114.6
Intangible assets, net 504.6 276.8
Goodwill 1,432.5 1,206.9
Total assets 4,120.5 3,593.5
Current liabilities:    
Short-term borrowings and current maturities of long-term debt 171.4 249.4
Accounts payable 274.6 247.4
Current asbestos liability 85.0 85.0
Accrued liabilities 328.0 252.1
U.S. and foreign taxes on income 2.3 3.6
Total current liabilities 861.3 837.5
Long-term debt 937.1 494.1
Accrued pension and postretirement benefits 253.9 240.5
Long-term deferred tax liability 44.3 44.9
Long-term asbestos liability 474.4 520.3
Other liabilities 102.9 107.7
Total liabilities 2,673.9 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 293.3 291.7
Retained earnings 1,927.6 1,813.3
Accumulated other comprehensive loss (387.3) (380.1)
Treasury stock (462.5) (452.1)
Total shareholders' equity 1,443.5 1,345.2
Noncontrolling interests 3.1 3.3
Total equity 1,446.6 1,348.5
Total liabilities and equity $ 4,120.5 $ 3,593.5
Common stock issued 72,426,139 72,426,139
Less: Common stock held in treasury (12,849,280) (13,014,503)
Common stock outstanding 59,576,859 59,411,636