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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Apr. 02, 2023
Current assets      
Cash and cash equivalents including restricted cash of $0.9 million, $13.4 million and $0.6 million $ 570.2 $ 545.4 $ 386.2
Accounts receivable, net 632.5 1,029.3 685.2
Inventories 336.2 332.0 713.4
Prepaid expenses and other current assets 456.5 416.9 754.4
Total current assets 1,995.4 2,323.6 2,539.2
Property, plant and equipment, less accumulated depreciation of $625.4 million, $637.8 million and $618.9 million 501.3 488.6 509.1
Other assets:      
Goodwill 2,278.8 2,279.2 3,470.1
Other intangible assets, net of accumulated amortization of $1,314.7 million, $1,165.3 million and $1,296.9 million 569.7 587.5 801.0
Other 857.8 862.0 1,604.3
Total other assets 3,706.3 3,728.7 5,875.4
Total assets 6,203.0 6,540.9 8,923.7
Current liabilities      
Short-term borrowings 0.0 0.0 134.5
Current portion of long-term debt 500.0 500.0 109.0
Accounts payable 254.2 340.6 360.1
Accrued liabilities 1,038.0 1,215.8 1,293.8
Total current liabilities 1,792.2 2,056.4 1,897.4
Long-term debt 2,966.9 2,965.8 3,682.4
Other liabilities 414.0 431.7 585.2
Total liabilities 5,173.1 5,453.9 6,165.0
Shareholders' equity      
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued 0.0 0.0 0.0
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 220,286,736 shares at March 31, 2024, April 2, 2023, and December 31, 2023 110.1 110.1 110.1
Additional paid-in capital 2,569.9 2,590.6 2,535.7
Retained earnings 2,148.0 2,188.4 3,951.8
Accumulated other comprehensive loss (203.3) (201.5) (237.4)
Treasury stock, at cost; 81,081,180 shares at March 31, 2024; 81,687,608 shares at April 2, 2023; and 81,498,181 shares at December 31, 2023 (3,618.8) (3,625.7) (3,629.4)
Noncontrolling interests 24.0 25.1 27.9
Total shareholders' equity 1,029.9 1,087.0 2,758.7
Total liabilities, noncontrolling interests and shareholders' equity $ 6,203.0 $ 6,540.9 $ 8,923.7