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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 307.2 $ 478.6
Accounts receivable, net of allowance for doubtful accounts of $9.3 as of March 31, 2022 and $10.4 as of December 31, 2021 510.9 472.4
Current insurance receivable - asbestos 13.7 13.7
Inventories, net:    
Finished goods 156.1 143.8
Finished parts and subassemblies 68.4 59.5
Work in process 33.3 36.9
Raw materials 213.5 200.7
Inventories, net 471.3 440.9
Other current assets 115.1 118.1
Current assets held for sale 234.1 220.5
Total current assets 1,652.3 1,744.2
Property, plant and equipment:    
Cost 1,176.2 1,179.9
Less: accumulated depreciation 660.0 652.6
Property, plant and equipment, net 516.2 527.3
Long-term insurance receivable - asbestos 55.8 60.0
Long-term deferred tax assets 19.4 17.7
Other assets 254.7 259.0
Intangible assets, net 452.1 465.9
Goodwill 1,402.7 1,412.5
Total assets 4,353.2 4,486.6
Current liabilities:    
Short-term borrowings 104.0 0.0
Accounts payable 233.9 246.7
Current asbestos liability 62.3 62.3
Accrued liabilities 333.1 430.7
U.S. and foreign taxes on income 23.0 10.6
Current liabilities held for sale 41.5 44.9
Total current liabilities 797.8 795.2
Long-term debt 842.7 842.4
Accrued pension and postretirement benefits 223.6 231.9
Long-term deferred tax liability 69.2 71.1
Long-term asbestos liability 538.1 549.8
Other liabilities 155.6 161.1
Total liabilities 2,627.0 2,651.5
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 364.7 363.9
Retained earnings 2,605.9 2,527.3
Accumulated other comprehensive loss (458.6) (440.2)
Treasury stock (861.1) (691.1)
Total shareholders’ equity 1,723.3 1,832.3
Noncontrolling interests 2.9 2.8
Total equity 1,726.2 1,835.1
Total liabilities and equity $ 4,353.2 $ 4,486.6
Share data:    
Common shares issued (in shares) 72,426,139 72,426,139
Less: Common shares held in treasury (in shares) 16,120,215 14,590,274
Common shares outstanding (in shares) 56,305,924 57,835,865