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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 29, 2024
Dec. 31, 2023
Oct. 01, 2023
Current assets      
Cash and cash equivalents, including restricted cash of $0.3 million, $1.1 million and $0.6 million $ 696.1 $ 545.4 $ 185.5
Short-term investments 489.3 0.0 0.0
Accounts receivable, net 1,069.2 1,029.3 1,102.0
Inventories 375.4 332.0 617.7
Prepaid expenses and other current assets 391.6 416.9 286.2
Assets held for sale 0.0 0.0 1,048.7
Total current assets 3,021.6 2,323.6 3,240.1
Property, plant and equipment, less accumulated depreciation of $643.2 million, $603.3 million and $618.9 million 564.2 488.6 474.6
Other assets:      
Goodwill 2,278.9 2,279.2 3,238.8
Other intangible assets, net of accumulated amortization of $1,350.5 million, $1,229.3 million and $1,296.9 million 539.5 587.5 655.1
Other 825.7 862.0 731.6
Total other assets 3,644.1 3,728.7 4,625.5
Total assets 7,229.9 6,540.9 8,340.2
Current liabilities      
Current portion of long-term debt 500.0 500.0 60.0
Accounts payable 420.3 340.6 371.4
Accrued liabilities 1,132.5 1,215.8 985.4
Liabilities held for sale 0.0 0.0 607.4
Total current liabilities 2,052.8 2,056.4 2,024.2
Long-term debt 3,462.6 2,965.8 3,654.6
Other liabilities 404.8 431.7 438.2
Total liabilities 5,920.2 5,453.9 6,117.0
Commitments and contingencies (Note 14)
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 September 29, 2024, October 1, 2023, and December 31, 2023 110.1 110.1 110.1
Additional paid-in capital 2,609.5 2,590.6 2,574.1
Retained earnings 2,408.2 2,188.4 3,348.3
Accumulated other comprehensive loss (227.8) (201.5) (208.4)
Treasury stock, at cost; 80,798,468 shares at September 29, 2024; 81,541,637 shares at October 1, 2023; and 81,498,181 shares at December 31, 2023 (3,612.8) (3,625.7) (3,626.3)
Noncontrolling interests 22.5 25.1 25.4
Total shareholders' equity 1,309.7 1,087.0 2,223.2
Total liabilities, noncontrolling interests and shareholders' equity $ 7,229.9 $ 6,540.9 $ 8,340.2