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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 478.6 $ 551.0
Current insurance receivable - asbestos 13.7 14.4
Accounts receivable, net 472.4 423.9
Inventories, net 440.9 429.7
Other current assets 118.1 137.3
Current assets held for sale   17.4
Total current assets 1,744.2 1,573.7
Property, plant and equipment, net 527.3 573.7
Insurance receivable - asbestos 60.0 72.5
Long-term deferred tax assets 17.7 41.0
Intangible assets, net 465.9 519.1
Goodwill 1,412.5 1,437.7
Other assets 259.0 197.4
Long-term assets held for sale 0.0 199.9
Total assets 4,486.6 4,615.0
Current liabilities:    
Short-term borrowings 0.0 375.7
Accounts payable 246.7 198.9
Current asbestos liability 62.3 66.5
Accrued liabilities 430.7 388.0
U.S. and foreign taxes on income 10.6 0.1
Current liabilities held for sale   27.4
Total current liabilities 795.2 1,056.6
Long-term debt 842.4 842.9
Accrued pension and postretirement benefits 231.9 329.7
Long-term deferred tax liability 71.1 53.6
Long-term asbestos liability 549.8 603.6
Other liabilities 161.1 171.3
Long-term liabilities held for sale 0.0 26.2
Commitments and contingencies (Note 13)
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; 57,835,865 and 58,127,948 shares outstanding in 2021 and 2020, respectively 72.4 72.4
Capital surplus 363.9 330.7
Retained earnings 2,527.3 2,192.8
Accumulated other comprehensive loss (440.2) (466.4)
Treasury stock; 14,590,274 and 14,298,191 treasury shares in 2021 and 2020, respectively (691.1) (600.6)
Total shareholders’ equity 1,832.3 1,528.9
Noncontrolling interest 2.8 2.2
Total equity 1,835.1 1,531.1
Total liabilities and equity $ 4,486.6 $ 4,615.0