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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 386.7 $ 551.0
Accounts receivable, net 458.6 423.9
Current insurance receivable - asbestos 14.4 14.4
Inventories, net:    
Finished goods 154.5 125.4
Finished parts and subassemblies 57.1 54.5
Work in process 43.4 45.1
Raw materials 201.9 204.7
Inventories, net 456.9 429.7
Other current assets 129.8 137.3
Current assets held for sale 225.9 17.4
Total current assets 1,672.3 1,573.7
Property, plant and equipment:    
Cost 1,173.4 1,191.9
Less: accumulated depreciation 635.2 618.2
Property, plant and equipment, net 538.2 573.7
Long-term insurance receivable - asbestos 65.8 72.5
Long-term deferred tax assets 33.1 41.0
Other assets 196.5 197.4
Intangible assets, net 491.3 519.1
Goodwill 1,426.0 1,437.7
Long-term assets held for sale 0.0 199.9
Total assets 4,423.2 4,615.0
Current liabilities:    
Short-term borrowings 15.0 375.7
Accounts payable 242.2 198.9
Current asbestos liability 66.5 66.5
Accrued liabilities 388.4 388.0
U.S. and foreign taxes on income 8.8 0.1
Current liabilities held for sale 37.9 27.4
Total current liabilities 758.8 1,056.6
Long-term debt 843.4 842.9
Accrued pension and postretirement benefits 297.4 329.7
Long-term deferred tax liability 54.1 53.6
Long-term asbestos liability 576.7 603.6
Other liabilities 164.7 171.3
Long-term liabilities held for sale 0.0 26.2
Total liabilities 2,695.1 3,083.9
Commitments and contingencies
Equity:    
Preferred shares, par value $0.01; 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 72.4 72.4
Capital surplus 348.4 330.7
Retained earnings 2,389.3 2,192.8
Accumulated other comprehensive loss (484.3) (466.4)
Treasury stock (600.6) (600.6)
Total shareholders’ equity 1,725.2 1,528.9
Noncontrolling interests 2.9 2.2
Total equity 1,728.1 1,531.1
Total liabilities and equity $ 4,423.2 $ 4,615.0
Share data:    
Common shares issued (in shares) 72,426,139 72,426,139
Less: Common shares held in treasury (in shares) 13,801,550 14,298,191
Common shares outstanding (in shares) 58,624,589 58,127,948