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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 650.6 $ 478.6
Accounts receivable, net of allowance for doubtful accounts of $10.0 as of June 30, 2022 and $10.4 as of December 31, 2021 490.4 483.0
Current insurance receivable - asbestos 13.7 13.7
Inventories, net:    
Finished goods 103.6 147.3
Finished parts and subassemblies 73.6 59.5
Work in process 37.4 37.0
Raw materials 228.3 205.3
Inventories, net 442.9 449.1
Other current assets 130.8 118.7
Total current assets 1,728.4 1,543.1
Property, plant and equipment:    
Cost 1,239.1 1,288.5
Less: accumulated depreciation 724.9 732.9
Property, plant and equipment, net 514.2 555.6
Long-term insurance receivable - asbestos 51.2 60.0
Long-term deferred tax assets 6.2 17.7
Other assets 239.6 259.3
Intangible assets, net 435.8 467.1
Goodwill 1,523.7 1,583.8
Total assets 4,499.1 4,486.6
Current liabilities:    
Short-term borrowings 119.4 0.0
Accounts payable 247.9 273.7
Current asbestos liability 62.3 62.3
Accrued liabilities 361.6 442.7
U.S. and foreign taxes on income 54.1 10.6
Total current liabilities 845.3 789.3
Long-term debt 842.9 842.4
Accrued pension and postretirement benefits 210.4 231.9
Long-term deferred tax liability 75.1 76.9
Long-term asbestos liability 517.5 549.8
Other liabilities 143.3 161.2
Total liabilities 2,634.5 2,651.5
Commitments and contingencies (Note 10)
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 369.3 363.9
Retained earnings 2,837.7 2,527.3
Accumulated other comprehensive loss (530.9) (440.2)
Treasury stock (886.7) (691.1)
Total shareholders’ equity 1,861.8 1,832.3
Noncontrolling interests 2.8 2.8
Total equity 1,864.6 1,835.1
Total liabilities and equity $ 4,499.1 $ 4,486.6
Share data:    
Common shares issued (in shares) 72,426,139 72,426,139
Less: Common shares held in treasury (in shares) 16,333,384 14,590,274
Common shares outstanding (in shares) 56,092,755 57,835,865