Selected Balance Sheet Information

9 Months Ended

Sep. 30, 2011

Selected Balance Sheet Information

Selected Balance Sheet Information

3.     Selected Balance Sheet Information

	September 30			December 31
(millions)	2011			2010
	(unaudited)
Accounts receivable, net
Accounts receivable	$	1,190.8		$	1,044.5
Allowance for doubtful accounts	(47.7		)	(44.9		)
Total	$	1,143.1		$	999.6
Inventories
Finished goods	$	283.3		$	254.2
Raw materials and parts	243.8			216.1
Inventories at FIFO cost	527.1			470.3
Excess of FIFO cost over LIFO cost	(22.2		)	(22.7		)
Total	$	504.9		$	447.6
Property, plant and equipment, net
Land	$	36.1		$	28.4
Buildings and improvements	307.8			279.9
Leasehold improvements	77.3			75.9
Machinery and equipment	739.8			699.1
Merchandising equipment	1,565.4			1,419.2
Capitalized software	339.7			321.2
Construction in progress	71.8			48.9
	3,137.9			2,872.6
Accumulated depreciation	(1,919.7		)	(1,724.3		)
Total	$	1,218.2		$	1,148.3
Other intangible assets, gross
Customer relationships	$	440.2		$	276.0
Trademarks	122.5			111.3
Patents	82.0			79.0
Customer lists	5.6			5.6
Other intangibles	84.2			73.3
	$	734.5		$	545.2
Accumulated amortization
Customer relationships	$	(195.0	)	$	(159.5	)
Trademarks	(47.0		)	(41.0		)
Patents	(32.8		)	(28.2		)
Customer lists	(5.6		)	(5.5		)
Other intangibles	(35.3		)	(28.5		)
Other intangible assets, net	$	418.8		$	282.5
Other assets
Deferred income taxes	$	112.2		$	112.0
Pension	1.5			1.5
Other	159.9			128.7
Total	$	273.6		$	242.2

	September 30			December 31
(millions)	2011			2010
	(unaudited)
Short-term debt
Commercial paper	$	305.0		$	—
Notes payable	24.6			32.4
Long-term debt, current maturities	7.2			156.8
Total	$	336.8		$	189.2
Other current liabilities
Discounts and rebates	$	235.5		$	220.7
Dividends payable	40.6			40.7
Interest payable	16.4			9.3
Taxes payable, other than income	48.8			49.2
Derivative liabilities	21.8			5.1
Restructuring	44.5			2.8
Other	123.4			113.7
Total	$	531.0		$	441.5
Other liabilities
Deferred income taxes	$	71.3		$	65.3
Income taxes payable - non-current	30.7			38.1
Other	120.0			88.8
Total	$	222.0		$	192.2
Accumulated other comprehensive loss
Unrealized loss on derivative financial instruments, net of tax	$	(19.3	)	$	(3.3	)
Unrecognized pension and postretirement benefit expense, net of tax	(380.6		)	(387.4		)
Cumulative translation, net of tax	239.2			118.8
Total	$	(160.7	)	$	(271.9	)

In September the company replaced its existing $600 million multi-year credit facility with a $1.5 billion multi-year credit facility, which expires in September 2016. The company also entered into a $2.0 billion, 364 day credit facility. Both credit facilities have been established with a diverse portfolio of banks. The credit facilities will be used for general corporate purposes, including share repurchases, the repayment of other indebtedness and acquisitions. The credit facilities are also expected to be used in connection with the funding of the anticipated Nalco merger.