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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 349.7 $ 344.5
Accounts receivable, less allowances of $8.5 and $7.3 545.4 526.9
Inventories 595.4 613.3
Other current assets 43.8 45.0
Total Current Assets 1,534.3 1,529.7
Property, Plant and Equipment, Net 939.2 927.7
Equity Investment in Affiliates 12.3 12.0
Trade Names and Other Intangibles, Net 3,271.1 3,302.3
Goodwill 2,431.5 2,431.5
Other Assets 373.1 366.0
Total Assets 8,561.5 8,569.2
Current Liabilities    
Short-term borrowings 4.0 3.9
Current portion of long-term debt 0.0 199.9
Accounts payable 647.4 630.6
Accrued expenses and other liabilities 453.5 580.4
Income taxes payable 46.2 7.2
Total Current Liabilities 1,151.1 1,422.0
Long-term Debt 2,202.8 2,202.2
Deferred Income Taxes 744.1 743.1
Deferred and Other Long-term Liabilities 330.0 313.7
Business Acquisition Liabilities 32.8 32.8
Total Liabilities 4,460.8 4,713.8
Commitments and Contingencies
Stockholders' Equity    
Preferred Stock, $1.00 par value, Authorized 2,500,000 shares; none issued 0.0 0.0
Common Stock, $1.00 par value, Authorized 600,000,000 shares and 293,709,982 shares issued as of March 31, 2024 and December 31, 2023 293.7 293.7
Additional paid-in capital 498.3 454.8
Retained earnings 6,170.8 6,012.3
Accumulated other comprehensive loss (29.3) (27.2)
Common stock in treasury, at cost: 49,241,423 shares as of March 31, 2024 and 50,557,219 shares as of December 31, 2023 (2,832.8) (2,878.2)
Total Stockholders' Equity 4,100.7 3,855.4
Total Liabilities and Stockholders' Equity $ 8,561.5 $ 8,569.2