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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 393.9 $ 343.4
Current insurance receivable - asbestos 14.1 16.0
Accounts receivable, net 555.1 515.8
Inventories 457.3 411.5
Other current assets 79.5 76.2
Total current assets 1,499.9 1,362.9
Property, plant and equipment, net 616.3 599.1
Insurance receivable - asbestos 83.6 75.0
Long-term deferred tax assets 35.1 18.8
Intangible assets, net 505.1 481.8
Goodwill 1,472.4 1,403.7
Other assets 211.3 101.4
Total assets 4,423.7 4,042.7
Current liabilities:    
Commercial paper and current maturities of long-term debt 149.4 6.9
Accounts payable 311.1 329.2
Current asbestos liability 65.0 66.0
Accrued liabilities 378.2 337.1
U.S. and foreign taxes on income 13.0 1.0
Total current liabilities 916.7 740.2
Long-term debt 842.0 942.3
Accrued pension and postretirement benefits 298.4 244.0
Long-term deferred tax liability 55.8 53.2
Long-term asbestos liability 646.6 451.3
Other liabilities 187.9 84.6
Commitments and contingencies (Note 12)
Equity:    
Preferred shares, par value $.01; 5,000,000 shares authorized 0.0 0.0
Common shares, par value $1.00; 200,000,000 shares authorized; 72,426,139 shares issued; 59,002,205 shares outstanding (59,508,401 in 2018) 72.4 72.4
Capital surplus 315.6 303.5
Retained earnings 2,112.2 2,072.1
Accumulated other comprehensive loss (483.7) (447.6)
Treasury stock; 13,423,934 treasury shares (12,917,713 in 2018) (542.8) (476.2)
Total shareholders’ equity 1,473.7 1,524.2
Noncontrolling interest 2.6 2.9
Total equity 1,476.3 1,527.1
Total liabilities and equity $ 4,423.7 $ 4,042.7